<html><body>
Australia dropped from third to fourth most popular commercial property investment destination in the second quarter of 2012, according to the latest Asia Pacific Capital Markets report from CBRE.
Investors snapped up close to $2.5 billion in Australian commercial assets, slightly higher than the first quarter of the year, but offshore investor sentiment dampened due to concerns over the doubling of the withholding tax from 7.5% to 15%.
The tax rate – charged on returns paid to overseas investors of managed investment trusts, many of which hold commercial property assets – increased from 7.5% to 15% on July 1.
Trusts that exclusively hold property built after July 1, 2012 and that meet high energy rating standards (five-star green star or 5.5 star NABERS) are taxed at 10%.
According to CBRE, China was the top investment destination in the Asia-Pacific region in the second quarter of 2012, attracting $4.5 billion of the $17.9 billion in commercial property assets snapped up by investors (both local and offshore) over the quarter – a 54% increase on the first quarter for the Asia-Pacific region.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/08/cbreaug131.gif"><img src="/images/stories/2012/08/cbreaug131thumb.gif"></a>
According to the report, authored by CBRE’s head of Asia-Pacific research director Nick Axford, investor sentiment towards Australian commercial property deteriorated in the June quarter as offshore investors were forced to take into account the higher tax rate in their pricing to achieve the same returns.
But he expects the market to be more active in the second half of the year “given the volume of foreign money on the sidelines”.
Axford says most foreign groups are still attracted to the Australian markets given the high yields that are still available.
The report shows that Australia’s prime office markets have higher office yields relative to other parts of Asia-Pacific.
Sydney’s prime office yield is 6.43%, with Melbourne offering a return of 6.85%, Brisbane 7.56% and Perth 7.88%. This compares with smaller returns in Beijing (4.75%), Shanghai (4.25%), Tokyo (3.5%), Singapore (3.92%) and Hong Kong (2.5%).
Sydney, Melbourne, Perth and Brisbane are all offering retail yields in excess of 8%, compared to 4.6% in Hong Kong, 7.2% in Shanghai, 5.5% in Tokyo and 4.8% in Singapore.
For the year to June, Australia has been the third most popular commercial property investment destination, behind Japan and China, but ahead of Hong Kong and Singapore.
Australia has also been the most popular destination for investor outside of the Asia-Pacific region with the chart below showing that local investors were the biggest buyers of commercial property in all major investment markets.
CBRE’s figures taken into account office, retail, industrial and mixed-use property priced at US$10 billion and above.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/08/cbreaug132.gif"><img src="/images/stories/2012/08/cbreaug132thumb.gif"></a>
CBRE says the 54% regional increase was underpinned by a rebound in cross-border investment activity as well as due to a rise in transactions worth US$250 million and above, most of which had been under prolonged negotiation.
“Sentiment in Asia-Pacific was mixed in the second quarter, with many investors mindful of the eurozone debt crisis, however private investors remained in buying mode and there was a significant increase in cross border investment activity,” says Axford.
“Western property funds were particularly active and Asia Pacific investors continued to be net buyers in the cross-border arena.”
The CBRE data shows that investment activity picked up in most markets, with the largest increases recorded in China, Taiwan, Singapore and New Zealand.
“Barring any dramatic negative developments in the United States and eurozone, we expect real estate investment activity to remain steady in the second half of 2012,” Axford says.
“Domestic investors will continue to dominate in their home markets although overseas core investors are likely to step up their activity, with Australia and Japan being the major focus.
“That being said, the availability of prime assets will remain tight across the region and investors are expected to take longer to reach decisions given the sizable gap in price expectations between buyers and sellers.”
The CBRE report highlights that office property remained the subject of strong interest in the second quarter, particularly in Australia and Japan, and comprised 47% of total investment turnover.
“The past 12 months has seen a rise in investment demand for retail assets in China and Hong Kong, whilst the high yields currently available in the industrial sector continue to attract investors.”
</body></html>

lschlesinger-FZcF9M3vE6

Higher commercial yields to encourage offshore investment in Australia in second half of year despite withholding tax fears: CBRE

<html><body>
Prudential regulator APRA has written to lenders warning them they must accurately report overdue loans to borrowers who have been granted hardship concessions.
The regulator is concerned that lenders have been relaxing their reporting standards in relation to these loans, which can paint a distorted picture of the performance of a lender's loan book.
APRA executive general managers Keith Chapman and Brandon Khoo wrote to banks on August 8 saying there had been instances where lenders were “re-ageing arrears on loans granted such concessions in order to prevent the triggering of collections processes”.
Re-aging refers a to a lender increasing the term of a loan agreement when the borrower has missed one or more payments and changes the account from “delinquent" to “current”.
If a significant number of loans are re-aged, it can make a lender’s loan portfolio appear of higher quality than it actually is.
The letter, seen by the Australian Financial Review, adds that while this practice may be “reasonable from an operational perspective, it can obscure prudent internal and regulatory reporting of past-due and impaired loans”.
The strict approach adopted by APRA comes as banks are required to hold higher reserves of cash under global banking rules, which conflict with consumer rules designed to help borrowers who fall into arrears due loss of a job, illness or other hardship.
In Australia, banks can accommodate these hardships by reducing the interest rate, providing a “holiday” from loan repayments, lengthening the loan maturity, or offering full or partial deferral of interest for a temporary period.
APRA rules require that lenders have a full understanding of its the risk profile of the loans that are re-aged, with the risks appropriately reflected in internal management reporting, provisioning and capital adequacy calculations.
A loan is considered “past due” when at least 90 calendar days have elapsed since the due date of the last required payment.
“These loans may be restored to performing status for APRA reporting purposes once sufficient payments have been made such that the amount owed is less than 90 days’ worth of payments; and past-due loans that are not well secured must be reported as impaired,” APRA said in its letter to lenders.
</body></html>

Lenders must more accurately report mortgage delinquency data: APRA

<html><body>
ANZ forecasts mining projects to peak at around $37 billion in 2014 in its August Major Projects report.
Mining sector investment
Click to enlarge
<a href="/images/stories/2012/08/anzaug131.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/08/anzaug131thumb.gif"></a>
Source: ANZ
Overall the bank expects infrastructure project investment to peak earlier in 2013 under revised projections, but to a higher peak.
"This largely reflects improved estimates of the timing of expected capital expenditure across years for the major LNG [liquefied natural gas] and coal projects," says ANZ.
Click to enlarge
<a href="/images/stories/2012/08/anzaug132.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/08/anzaug132thumb.gif"></a>
Source: ANZ
ANZ says the majority of infrastructure investment will be concentrated in the mining and energy sectors, with the investment pipeline across these two sectors totalling $380 billion between 2012 and 2016.
Given the concentration of investment in the mining and resource sectors and related infrastructure (i.e. ports,railways and harbours), the resource-rich states of Western Australia, Queensland and Northern Territory will receive the lion’s share – around 75%, or $450 billion – of the total investment expected over this time frame.
Click to enlarge
<a href="/images/stories/2012/08/anzaug133.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/08/anzaug133thumb.gif"></a>
Source: ANZ
</body></html>

Australian mining project investment to peak in 2014: ANZ

<html><body>
ANZ has left its standard variable mortgage rate unchanged today at 6.8% following its monthly independent interest rate review.
The decision follows the Reserve Bank leaving the cash rate unchanged on Tuesday at 3.5% at its August monetary policy meeting.
ANZ has also left small business lending rates unchanged.
The RBA's monetary policy statement indicated the central bank was comfortable with its current cash rate setting as it upgraded GDP forecasts for 2012 to 3.5% and also noted recent improvements in the housing market.
ANZ’s head of Australian economics and property research Ivan Colhoun said RBA communications week (the August 7 cash rate statement and Friday's monetary policy statement) indicated the central bank is “quite comfortable at present with the pace of growth in the domestic economy, while noting that the global outlook is subdued”.
 
“We continue to expect that the RBA will eventually come to the view that the economy can grow a little more quickly, given that employment growth is likely to remain below-trend and inflation well behaved.
“We currently have 25 basis points rate cuts pencilled in for October and November but the tone of recent RBA communications suggests that the risk to this call is that the RBA doesn’t reduce the cash rate as early as we currently expect.”
</body></html>

ANZ leaves mortgage rates unchanged at August monthly independent meeting

<html><body>
The housing market is becoming more attractive to property investors, says the RBA in its August monetary policy statement.
The central bank includes this chart (below) showing that national residential vacancy rates have fallen below 2% while rents are trending up above 2%.
<img src="/images/stories/2012/08/rbaaug10.gif">
“Falls in mortgage interest rates and higher rental yields have increased the attractiveness of new housing investment, although falls in dwelling prices appear to have been weighing on demand for new housing,” notes the RBA.
The RBA also notes the recent improvements in dwelling prices in Sydney and Melbourne in this chart (below):
<img src="/images/stories/2012/08/rbaaug102.gif">
But it also says that changes to state government housing initiatives are likely to have a “mixed effect on national demand for new housing in coming quarters” due to initiatives such as the first-home bonus scheme in Victoria having recently expired and other new policies taking effect, including the first-home owner grant (new homes) scheme in New South Wales, which will increase the allowance to first-home buyers from $7,000 to $15,000, but only for new homes.
It includes another chart showing how the different data providers it follows (ABS, RP-Data-Rismark and Australian Property Monitors) have reported on recent changes in the housing market.
While the results are divergent, the chart shows that all three providers recorded better results in the three months to June than in the three months to March.
<img src="/images/stories/2012/08/rbaaug104.gif">
</body></html>

Rising rents and lower vacancy rates encouraging property investment: RBA charts

<html><body>
The Reserve Bank has backed up its August 7 cash rate statement that the housing market is showing signs of firming with expectations that residential construction activity could pick up in the second half of the year.
“There are tentative signs that housing market conditions and residential building activity may be starting to improve,” says the RBA in its August statement on monetary policy.
“Dwelling prices have increased modestly in recent months in most capital cities, but remain down a little over the year.
“Demand for housing finance is broadly unchanged from a year ago.
“With building approvals rising from low levels in recent months, there are signs that residential activity may start to pick up some time in the second half of 2012; lower interest rates, rising rental yields and population growth are likely to provide support for new housing construction," says the RBA.
In the RBA’s August 7 monetary policy decision statement put out after it announced that the cash rate would remain unchanged at 3.5%, the central bank said that while it was too soon to see the full impact of interest rate changes, "dwelling prices have firmed a little over the past couple of months, and business credit has over the past six months recorded its strongest growth for several years.”
The RBA also provided an economic update in today's August monetary policy statement, saying the  outlook for the Australian economy is largely unchanged from the May statement, though it has boosted the outlook for GDP growth over 2012 to 3.5%.
"Real GDP growth is forecast to slow somewhat over the second half of 2012 as the strong growth of domestic demand in the first half of the year moderates. While the forecast for growth in the second half of 2012 is similar to that in the May Statement, the stronger than-expected growth in the first half of 2012 has boosted the forecast for GDP growth over 2012 to 3.5%.
"The economy is then expected to grow at around 3% over 2013 and 2014," says the RBA.
It added that while an "adverse shock to global demand would be expected to reduce commodity prices, and hence Australia’s terms of trade, by more than is currently forecast" the country remains "relatively well placed to respond to such shocks given the scope to adjust macroeconomic policies and a robust financial system; movements in the exchange rate would also be expected to play an important role in adjusting to such shocks".
</body></html>

New home building could pick up in second half of 2012: RBA 

<html><body>
Legendary Melbourne CBD watering hole the English-style Mitre Tavern failed to sell at auction today despite a large crowd gathering outside on Bank Place in the damp and cold.

The mediaeval-looking tavern was passed in at $6.05 million with just three bids received, including one from the vendor for $6 million.
Bidding started at $4 million – or four pints, as the bidder called out initially.
The auction was conducted by David Combes, managing director of Alexander Robertson, which also had the listing.
It was listed with $6.5 million-plus hopes.
<img src="/images/stories/2012/08/mitreauc.jpg">
Most who attended appeared to be interested observers, intent on enjoying a pint after the swiftly concluded auction, plus a few industry players
Kristian Peatling who alongside colleague Warwick Bramich from Alexander Robertson marketed the tavern, told Property Observer he was confident of negotiating a sale post-auction.
The pub, which has claims to hold one of the oldest continuous pub licences, granted in 1868 when a two-storey private dwelling was converted to a drinking house, was listed for auction with $6.5 million-plus hopes.
<img src="/images/stories/2012/08/mitreauc2.jpg">
The pub has current net annual income is $430,000 plus GST with a long-term lease with three renewal options of 10 years each.
Set on Bank Place between Collins and Little Collins streets, it last traded at $6.3 million in 2008 when bought by the Toorak investor Ian Hicks from the hotelier Robertson family. There was a $4.6 million transfer in 2006 and a $5.75 million transfer in 2004.
The two-storey pub has 480 square metres of retail space as well as one of the city's largest outdoor beer spaces.
 
</body></html>

Pints on offer but few punters as Melbourne watering hole the Mitre Tavern passed in at $6.05 million

<html><body>
Property investors have patience and hold off buying in a brand-new apartment project until the last few units are listed for sale at discounted prices, according to Residex’s John Edwards.
Edwards says developers will often discount the last few units that they are struggling to sell and investors can secure discounts of tens of thousands of dollars.
He made these observations in an interview with Peter Switzer on Switzer's Sky Business investment program this week.
Edwards says the unit market is the one being targeted by investors but is also the one most likely to “correct” should the economy turn downwards.
Asked by Switzer if he would advise his family members to invest in a brand new apartment, Edwards was adamant.
“I would not be steering them into a brand-new unit.
“Have you ever tried to negotiate a price with a developer?… It’s almost impossible.”
But, he says “colossal discounts” are possible if you hold off and approach a developer when the project is almost finished.
Edwards says he's aware of savings as much as $70,000 discounts by waiting.
According to Edwards, the Australian unit investor market was being driven by miners.
“Now that’s a bit of a risk because the miners  have a greater tendency to overpay as they have a higher income then the others.”
This means anyone bidding against them at auction could end up paying too much.
</body></html>

While miners rush, savvy investors show patience when buying new apartments: Residex’s John Edwards

<html><body>
Yellow Brick Road's Mark Bouris looking suave in a smoking jacket holding a martini glass.
<img style="margin: 5px; float: left;" src="/images/stories/2012/08/toonbouris.jpg" width="100">
A terrified RP Data’s Tim Lawless in roller coaster heading down the property market curve.
<img style="margin: 5px; float: right;" src="/images/stories/2012/08/toonlawless.jpg" width="100">
Westpac strategist and housing bubble denier Rory Robertson sweating inside a bubble floating above a sharpened nail.
<img style="margin: 5px; float: left;" src="/images/stories/2012/08/toonrobertson.jpg" width="100">
Rismark’s Christopher Joye as Rodin’s The Thinker.
<img style="margin: 5px; float: right;" src="/images/stories/2012/08/toonjoye.jpg" width="100">
Big four bank economists Westpac’s Bill Evans, NAB’s Alan Oster, Commonwealth Bank’s Michael Blythe and ANZ’s Warren Hogan atop four Roman pillars.
 
John McGrath as the king with a crown, coat and sceptre.
<img style="margin: 5px; float: left;" src="/images/stories/2012/08/toonmcgrath.jpg" width="100">
These are just some of the 25 “star” home loan and property market gurus selected and depicted in cleverly observed cartoon format by mortgage comparison website homeloanfinder.com.au.
Homeloanfinder.com.au is part of the finder.com.au group of financial comparison websites, which operate under umbrella company Hive Empire, set up by entrepeneurs and business partners Frank Restuccia and Fred Schebesta in 2006.
<img style="margin: 5px; float: right;" src="/images/stories/2012/08/toonpillars.jpg" width="100">
Schebesta tells Property Observer the cartoons were selected and produced in-house.
“We initially brainstormed the categories of where we saw the majority of value and commentary happening in the home loan and property market.
“After picking the categories, it was much easier to isolate our research and identify some key commentators within each category. “After a huge amount of research, we chose to restrict our list to the commentators featured in the article but are wanting to expand the list down the track. There is so much amazing work being produced each day here in Australia, and we'd love to put in an effort to highlight more amazing property commentators.”
 
<hr class="system-pagebreak">
 <a href="https://homeloanfinder.com.au/">HomeLoanFinder.com.au</a> was setup in March, 2010 following the success of another comparison website in the group, <a href="https://creditcardfinder.com.au/">CreditCardFinder.com.au</a>.
 
Schebesta says what sets HomeLoanFinder.com.au apart from other comparison websites is that comparisons are “contextual and supported with guides”.
In all 25 people are depicted, with caricaturea that cleverly play on the gurus' characteristics, achievements and reputations accompanied by details of their and former roles and some tongue-in-cheek insights into their successes and what has made them who they are.
Each profile includes links to the guru's Twitter feed and blog so property buyers and investors can follow their observations.
As all but a handful are regulars on Property Observer, we've tip-toed around pointing out one or two inaccuracies in their depictions.
Property market bear and University of Western Sydney’s  professor Steve Keen is depicted as lonely jogger in the desert running towards a chart showing rising prices with a note on the back of his shirt with the words: “I was wrong about housing prices” in reference to his prediction that housing prices would fall by as much as 40%.
<img src="/images/stories/2012/08/toonkeen.jpg" width="470">
However, homeloanfinder.com.au does say that Keen is a good one to keep an eye on for advanced predictions about housing prices and he has some interesting views about the nature of economy and debt.
Aussie Home Loans founder John Symond, famous for his “We’ll save you” mantra and for taking on the banks, is depicted grabbing out for a battler dangling over a fiery lava pit with four ghouls (the big four banks) reaching out for him.
<img src="/images/stories/2012/08/toonsymond.jpg" width="470">
Weekly Property Observer commentators Michael Yardney and Catherine Cashmore are also included in cartoon format, the former as a school teacher and the latter – a play on her name - surrounded by money.
<img src="/images/stories/2012/08/toonyardney.jpg" width="470">
<img src="/images/stories/2012/08/tooncashmore.jpg" width="470">
<a href="https://www.homeloanfinder.com.au/australian-property-market/star-commentators-of-the-home-loan-and-housing-industry" target="_blank">You can view all 25 cartoon depictions here.</a>
</body></html>

From Mark Bouris to John Symond: Property market gurus glorified in website marketing gimmick

<html><body>
More than 150 submissions have been received as part of a Senate inquiry into changes in bank lending practices since the GFC and the relationship between banks, receivers and valuers.
The inquiry is being led by Nationals Senator John Williams, who <a target="_blank" href="https://www.propertyobserver.com.au/news/bankwest-class-action-gathers-steam-as-120-business-owners-and-property-developers-sign-on/2012041154216">raised the alarm at reports that banks were pulling loans to small business clients, including farmers, leading to assets being sold at rock-bottom levels.</a>
Its purpose is to examine recent developments in the banking sector arising out of the impact of the GFC and subsequent events, including “the impact on borrowing and lending practices in the banking sector both during and since the global financial crisis”.
Many of the personal submissions relate to the conduct of Bankwest following its acquisition by the Commonwealth Bank in December 2008.
Law firm Slater &amp; Gordon in conjunction with litigation funder IMF Australia is currently conducting due diligence with respect to a potential class action for aggrieved borrowers/mortgagors against BankWest and the Commonwealth Bank, with more than 120 businesses having signed up.
“As part of its purchase arrangements for Bankwest, CBA extracted from the seller a warranty which enabled CBA to claw back part of the purchase price depending upon whether the assets of Bankwest had been accurately disclosed to CBA in the accounts of Bankwest. Little is known about that warranty,” says Slater &amp; Gordon.
The Commonwealth Bank acquired Bankwest in late 2008 for the bargain price of $2.1 billion following the near collapse of UK parent HBOS.
The committee will issue its report and recommendations at the end of October.
Property Observer has five telling charts that have been included in submissions:
Abacus, which represents building societies and credit unions, presented this chart to show the dominant positions of CBA and Westpac reflecting their respective acquisitions of Bankwest and St George. 
Click to enlarge
<a href="/images/stories/2012/08/abacus.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/08/abacusthumb.gif"></a>
Source: Abacus
The Commonwealth Bank includes this chart which its ays shows that while Australia’s banking system ranks well by international standards for profitability, it falls far short of the top performing international systems
Click to enlarge
<a href="/images/stories/2012/08/cbaaug9.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/08/cbaaug9thumb.gif"></a>
The Mortgage and Finance Association of Australia (MFAA), which principally represents mortgage brokers and non-bank lenders (NBLs), presents this chart to show how interest rates on mortgages increased at the same time as non-bank lenders almost disappeared from mortgage lending.
Click to enlarge
<a href="/images/stories/2012/08/mfaa.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/08/mfaathumb.gif"></a>
Source: MFAA
Bankwest, which in its submissions says CBA’s acquisition “did not cause any change to existing contractual arrangements between Bankwest and its customers” presented this chart to show that its customer satisfaction rating has improved relative to the big four banks since being acquired by the CBA.
Click to enlarge
<a href="/images/stories/2012/08/bw.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/08/bwthumb.gif"></a>
Source: Bankwest
NAB in its submission presented this chart to show that it has only recovered 124 out of the 137 basis point increase in funding costs since June 2007:
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/08/nabaug9.gif"><img src="/images/stories/2012/08/nabaug9thumb.gif"></a>
Source: NAB
</body></html>

Senate banking inquiry submissions: Five telling charts

Design-led developer-builder Lowe Living has unveiled its latest residential development, Jardin House, marking its first foray into Melbourne's blue-chip City of Boroondara.

Located a short walk from Camberwell Junction, <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House</a> has been designed to appeal to affluent local downsizers and established families seeking a low-maintenance alternative to the large homes that have long defined Camberwell and surrounding suburbs.

The project will comprise a collection of two and three-bedroom apartments ranging from 92 sqm to 280 sqm, alongside a limited number of penthouse residences featuring rooftop terraces spanning more than 100 sqm, with optional private pools.

&nbsp;

[smartcode_project:default project_id=146717 project_image_fid=372212]

Lowe Living Co-Founder and Managing Director Tim Lowe said Camberwell represented a natural next step for the developer as it expands into some of Melbourne's most tightly held residential markets.

"Jardin House is an important project for our team as it marks the next evolution of our portfolio into different well-established blue-chip pockets of Melbourne," Lowe said.

"Camberwell, with its incredible walkability, family-led neighbourhood feel and superb access to education and transport, makes it a natural choice for us."

[smartcode_project:default project_id=146717 project_image_fid=372227]

Designed by Tristan Wong Architects, with interiors by Hecker Guthrie and landscaping by Acre, the development takes inspiration from the Art Deco architecture that remains a defining feature of many of Camberwell's established streets.

A curved facade, arched openings, textured brickwork and sculpted forms reference the suburb's architectural heritage, while extensive landscaping softens the building's presence and creates a strong connection to the surrounding tree-lined streetscape.

The project will be set behind a secure gated entrance, with residents arriving through landscaped gardens designed to create a transition between the public realm and private residences.

Inside, the residences feature natural stone and timber finishes, full-height glazing, Miele appliances and generous open-plan living areas designed for long-term owner occupation.

[smartcode_project:default project_id=146717 project_image_fid=372225]

While the apartments themselves have been designed to attract discerning owner-occupiers, it is the amenity offering that sets Jardin House apart from many other boutique projects currently launching across Melbourne.

The centrepiece is a 350 sqm private bathhouse curated in partnership with Aurora Spa &amp; Bathhouse founder Lyndall Mitchell.

The wellness precinct includes mineral pools, hydrotherapy experiences, a Himalayan salt room, sauna, steam room, cold plunge pools and dedicated relaxation spaces, creating what Lowe Living describes as a private wellness retreat exclusively for residents.

[smartcode_project:default project_id=146717 project_image_fid=372222]

The collaboration follows Lowe Living's recent partnership with Aurora at Maison Savoy in Brighton, although Jardin House is the first project to incorporate both indoor and outdoor wellness experiences.

Emma Lowe, Co-Founder and Managing Director of Lowe Living, said wellness was becoming an increasingly important consideration for apartment buyers.

"Collaborating with Lyndall Mitchell from Aurora Spa &amp; Bathhouse for a second time is an intentional nod to creating residences that are more than just homes, but a way to enrich the lives of our residents through wellness and longevity," Lowe said.

The amenity offering is complemented by a Technogym fitness studio, residents' lounge, private dining spaces and concierge services.

The launch comes as developers increasingly target Melbourne's established eastern suburbs, where rising land values, ageing housing stock and growing downsizer demand are creating opportunities for boutique apartment projects.

Lowe said the company expects significant generational wealth transfer across suburbs such as Camberwell in coming years, creating further demand for luxury apartment living.

"Camberwell is a blue-chip suburb where homes regularly transact for multiple millions of dollars," he said.

"The generational change of wealth in these locations expected in the coming years is significant, so we see an opportunity to create exclusive residences that appeal to older families and downsizers in order to meet this demand."

Apartments at Jardin house start from $1,195,000. The project forms part of Lowe Living's near-$1 billion portfolio of new developments across Melbourne.

[smartcode_project_cta:default project_id=146717]

Joel Robinson

Lowe Living launches Jardin House in Camberwell

As <a href="https://www.apartments.com.au/developments/north-sydney-nsw-2060">North Sydney</a> continues its transition from a commercial centre into a more layered residential and lifestyle precinct, a new generation of apartment developments is reshaping expectations around scale, amenity, and long-term liveability.

Improved transport connections through the Victoria Cross Metro, continued investment in dining and public spaces, and a constrained supply of new luxury apartments have sharpened demand for homes that combine proximity to the CBD with the privacy and outlook traditionally associated with harbourside houses.

At 177 Walker Street, <a href="https://www.apartments.com.au/developers/aland">ALAND</a>’s new apartment development <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-177-walker-street-north-sydney-nsw-2060">The Walden</a> enters the market with a distinctly residential approach to high-rise living. The 30-level tower will deliver 161 residences, ranging from one-bedroom apartments through to sub-penthouses and a full-floor penthouse, all oriented to capture uninterrupted views across Sydney Harbour, the Opera House, and out toward the Pacific Ocean.

[smartcode_project:default project_id=134323 project_image_fid=6395]

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, the project takes advantage of the site’s natural topography and elevated position above the harbour. Rather than relying on density alone, the architecture focuses on outlook, orientation, and spatial flow, with every apartment occupying a corner position to maximise natural light and cross ventilation.

Rothelowman says the site itself shaped much of the architectural response.

“The site has a long history in terms of its inevitable transformation and when we came in, we took inspiration from the idea of reestablishing a sense of the site’s natural terrain and fall. Our scheme aims to integrate with the terrain and the landscape, using the undulating site to slowly reveal glimpses and views of the harbour. The rotation of the tower off grid means every apartment has a view and is naturally cross ventilated. The building's colour palette is quintessentially Sydney, with bronze and sandstone and a luminescent green colour in the glass, making it very earthy and grounded in its location.”

[smartcode_project:default project_id=134323 project_image_fid=6399]

Inside the residences, the emphasis moves toward larger-format living typically associated with standalone homes. Kitchens sit at the centre of the apartments, connecting directly to open-plan dining and living areas before extending outward into expansive winter gardens and balconies. Calacatta marble, bespoke joinery, integrated appliances, and custom metal detailing are used throughout, while three distinct interior palettes, Terrace, Opera, and Harbour, allow buyers to personalise the spaces without compromising the architectural consistency of the project.

The larger residences place particular attention on separation between entertaining and private zones. In many apartments, master suites occupy the outer corners of the floorplates, allowing bedrooms to benefit from floor-to-ceiling glazing and harbour outlooks independent of the living spaces. Dressing rooms and ensuites continue the material palette through fluted detailing, freestanding baths, and layered stone finishes.

Rothelowman says the design intent centred on creating homes that feel enduring rather than transient.

“Our philosophy is all about the way people live in these spaces, and we wanted to create homes that reflect the quality of life in this unique Sydney location. The apartments showcase expansive living spaces that are generous, sophisticated, and bold, with the ability to connect with views throughout each apartment.”

[smartcode_project:default project_id=134323 project_image_fid=353235]

A separate four-storey amenity building known as The Pavilion expands the residential offering beyond the apartments themselves. Positioned alongside the tower, the building consolidates wellness, recreation, and social spaces into a dedicated resident retreat. Facilities include a 20-metre rooftop pool and sundeck, sauna, spa, ice bath, wellness studio, gymnasium, concierge service, wine cellar, residents’ lounge, private dining spaces, and dedicated co-working areas with meeting rooms and boardroom facilities.

The amenity mix reflects the buyer profile emerging in North Sydney, where owner-occupiers and downsizers are increasingly prioritising convenience, apartment scale, and long-term usability over purely investment-driven decisions.

The Walden also represents a significant milestone for ALAND, marking the company’s first major move into Sydney’s inner-city luxury apartment market after more than two decades delivering large-scale residential communities across Greater Sydney. Founder Andrew Hrsto says the Walker Street site stood apart because of both its positioning and its rarity.

[smartcode_project:default project_id=134323 project_image_fid=6390]

“As a company, we had been searching for a site in one of Sydney’s blue-chip locations, spanning the Eastern Suburbs, the Sydney CBD and the North Shore, and when we had the opportunity to purchase this site, we immediately recognised that it could be something iconic.”

At launch, The Walden recorded more than $103 million in sales, with buyers drawn to the project’s harbour positioning, apartment scale, and proximity to the Metro, which now connects North Sydney to Barangaroo in three minutes and Martin Place in five.

ALAND has commenced construction, and is expecting a completion date in 2028.

[smartcode_project_cta:default project_id=134323]

The Walden pairs house-scale living with North Sydney connectivity

The ACT will become the first jurisdiction in Australia to abolish stamp duty for all first home buyers, with no income caps and no property price thresholds from 1 July.

The move, announced as part of the ACT Budget, completes a key election commitment from the Barr Government and removes what Chief Minister Andrew Barr described as one of the biggest barriers to entering the housing market. The reform forms part of the ACT's long-running transition away from transaction taxes and towards a broader-based property tax system.

"This budget marks a major milestone in our long-term tax reform program," Barr said, adding that the government had maintained a sustained focus on removing barriers to home ownership. He said stamp duty had long been one of the largest upfront hurdles facing buyers and that from July, "that barrier is gone" for first home buyers in the Territory.

[smartcode_project:default project_id=139989 project_image_fid=350986]

The changes come alongside a range of measures designed to encourage new housing supply, including support for the delivery of so-called "missing middle" housing such as terraces, townhouses and low-rise multi-unit developments.

The announcement has renewed debate around whether the ACT's approach could provide a blueprint for improving housing affordability nationally.

New research from OurTop10.com.au, conducted by Primara Research, suggests the Territory's decade-long reform agenda has produced outcomes unmatched elsewhere in Australia.

While stamp duty costs have increased by an average 67 per cent nationally over the past decade, the ACT has recorded growth of just 15 per cent, the lowest increase of any jurisdiction.

The Territory has also emerged as one of the strongest performers on housing delivery. Based on population-weighted housing targets, the ACT is sitting less than one per cent behind its target. Victoria is the next closest at seven per cent behind, while the national average sits 25 per cent below target. New South Wales is tracking 39 per cent behind.

The latest reform removes one of the final barriers facing first home buyers in Canberra.

[smartcode_project:default project_id=139989 project_image_fid=359152]

The average Australian home buyer currently pays $61,714 in stamp duty. In the ACT, that figure is $38,399 despite the Territory having the third-highest median house price in the country.

Until now, the ACT's first home buyer concession scheme only applied to purchases up to $1.02 million, around $51,000 below Canberra's median house price of $1.071 million. In practical terms, many first home buyers were unable to access the median-priced home without losing the concession.

From July, those restrictions disappear.

Every first home buyer in the ACT will pay no stamp duty, regardless of income or purchase price.

Canberra remains one of Australia's most expensive housing markets, with dwelling values increasing 82 per cent over the past decade. However, that growth ranks only 11th among Australia's 15 major housing markets, suggesting affordability pressures have been less severe than in many other parts of the country.

Simon Ma, CEO of OurTop10.com.au, said the latest reforms recognise that many first home buyers have simply outgrown thresholds set years ago.

"Many first home buyers aren't just looking for a way onto the ladder, they want a home their family can actually live in," Ma said.

"In a market where the median house price is over a million dollars, a concession scheme that cuts out at $1.02 million was never going to get them there.

"Removing the ceiling entirely means ACT first home buyers can now pursue the home they actually want, rather than limiting themselves to a price point designed for a very different market."

Whether other states follow remains to be seen. But at a time when most jurisdictions are struggling to improve affordability while also increasing housing supply, the ACT has quietly become the national test case for both.

15% stamp duty growth. Just 1% off the national housing target. Zero stamp duty for FHBs. Is the ACT the blueprint for the great Australian dream?

ACT abolishes stamp duty for first home buyers

A rooftop pool and spa overlooking the Brisbane CBD, private dining spaces, expansive landscaped gardens and a residents' lounge are set to crown <a href="https://www.apartments.com.au/new-apartments/callista-on-park-west-end-49-mollison-street-west-end-qld-4101">Callista on Park</a>, the final residential building within Brisbane's West Village precinct.

The rooftop amenity collection has been designed as an extension of the lifestyle already established throughout West Village, providing residents with a series of indoor and outdoor spaces that capitalise on the building's elevated position above West End.

A swimming pool and heated spa form the centrepiece of the rooftop offering, surrounded by landscaped gardens developed through a collaboration between developer Sekisui House and ASPECT Studios. The design incorporates expansive lawn areas surrounded by English garden-inspired planting.

[smartcode_project:default project_id=134800 project_image_fid=370648]

Residents will also have access to two barbecue and outdoor dining areas positioned to take advantage of views across Brisbane's skyline, neighbouring Mollison Park, and the surrounding inner-city landscape.

For larger gatherings, the rooftop includes a private dining room centred around a substantial stone island bench, complete with a full kitchen and a 10-seat dining table set beneath four-metre-high ceilings. The space has been designed to overlook both the rooftop gardens and the Brisbane CBD skyline.

A separate residents' lounge provides an additional indoor retreat connected to the broader rooftop amenity offering, creating another space for residents to work, relax or entertain guests.

[smartcode_project:default project_id=134800 project_image_fid=370647]

The attention to detail extends beyond the rooftop.

Upon arrival, residents will enter through a lobby featuring a bespoke ceiling light installation developed in collaboration between Sekisui House and Alcorn Middleton Architecture. The arrival experience is complemented by private resident mailboxes and carefully considered interior finishes designed to reflect the premium positioning of the building.

[smartcode_project:default project_id=134800 project_image_fid=372541]

The amenity offering forms part of Callista on Park, the final residential release within the decade-long transformation of the former Peters Ice Cream Factory site into West Village, one of Brisbane's most established mixed-use communities.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and being delivered by <a href="https://www.apartments.com.au/builders/hutchinson-builders">Hutchinson Builders</a>, Callista represents the most premium residential offering within the masterplanned precinct.

Construction is now entering its final stages, with scaffolding beginning to come down and completion expected in the first quarter of 2027.

Prices for the three-bedroom plus MPR apartments start from just over $2.6 million.

[smartcode_project:default project_id=134800 project_image_fid=351535]

Callista will mark the final opportunity to purchase within West Village, where residents have direct access to more than 35 retail, dining, wellness and medical operators including Harris Farm Markets, Woolworths, Function Well and Goodlife Health Clubs, Metro Arts, and a growing collection of restaurants and cafés.

Located just 800 metres from the Brisbane CBD, the precinct also places residents within walking distance of South Bank, West End's dining scene, riverfront parklands and major public transport connections.

For Sekisui House, which has delivered more than two million homes globally, Callista serves as the concluding piece of the West Village masterplan, bringing together the precinct's heritage character, parkland setting and emphasis on walkability in a final collection of larger-format residences.

[smartcode_project_cta:default project_id=134800]

Rooftop pool, private dining and skyline gardens to crown West Village's final apartment release, Callista on Park

<a href="https://www.apartments.com.au/developments/wahroonga-nsw-2076">Wahroonga</a>’s enduring appeal has long been tied to its balance of bushland, established amenity, and access to some of Sydney’s most respected education and healthcare institutions.

Along Fox Valley Road, that combination is becoming increasingly sought after by buyers looking to remain connected to the Upper North Shore lifestyle while prioritising walkability, wellbeing, and convenience.

Developer Capital Corporation's initial vision of a 62-hectare site on Fox Valley Road was that they could create their own walkable community, bordered by&nbsp;more than 25 hectares of bushland and adjoining Coups Creek.

<img alt="Wahroonga" data-entity-type="file" data-entity-uuid="b84917a1-0d75-49b9-888c-ddf7ebfd6692" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/NEW2026_Wahroonga_Walkway.gif?VersionId=Gk3_xi5ssYfalmwuQQ5umQakddceC31j" />

<a href="https://www.apartments.com.au/new-apartments/the-residences-at-wahroonga-estate-169-fox-valley-road-wahroonga-nsw-2076">The Residences at Wahroonga Estate</a> draws directly on the area’s natural landscape, with walking trails and green corridors linking into sections of Lane Cove National Park. The surrounding network of bushwalks, cycling tracks, and reserves reinforces the suburb’s long-standing reputation as one of Sydney’s most nature-oriented residential pockets, while still maintaining close ties to village retail and transport infrastructure.

The address places residents within minutes of Wahroonga and Turramurra villages, where cafés, local grocers, boutiques, and everyday services support a highly localised lifestyle. Popular nearby venues including The Fox Café and Breeze Valley Café provide easy options for morning coffee or casual dining, while longstanding retailers such as IGA Wahroonga Fresh and Novella Fine Books continue to anchor the area’s village character.

&nbsp;

<img alt="Wahroonga" data-entity-type="file" data-entity-uuid="c4a950f7-4f05-4370-b360-b106359788e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/2026_Wahroonga_Entry_Gates.gif?VersionId=7n5kh9ymu.azYEYDemJkPgiIAfSw44oj" />

Healthcare access remains one of the defining locational advantages of the estate. Sydney Adventist Hospital, known locally as The San, sits directly adjacent and is one of the largest and most respected private hospitals in New South Wales. The hospital precinct incorporates specialist medical services, radiology, physiotherapy, and outpatient care, contributing to growing buyer demand from downsizers and owner-occupiers seeking long-term convenience and peace of mind.

Research commissioned by Capital Corporation found that health and wellbeing considerations are increasingly influencing downsizing decisions, particularly among buyers wanting to remain within familiar neighbourhoods while accessing medical infrastructure more easily.

Education has also historically underpinned demand across Wahroonga and the broader Upper North Shore. The estate sits close to several of Sydney’s leading private and independent schools, including Knox Grammar, Abbotsleigh, Barker College, Pymble Ladies’ College, Ravenswood School for Girls, and Loreto Normanhurst. Co-educational options including Wahroonga Adventist School and Sydney Adventist School further strengthen the area’s appeal to established families looking for long-term schooling pathways within a tightly held catchment.

[smartcode_project:default project_id=135247 project_image_fid=262183]

Transport connectivity supports the suburb’s liveability without compromising its quieter residential character. Wahroonga and Turramurra train stations provide direct rail access into the Sydney CBD, while the nearby Pacific Highway and M1 motorway strengthen links across the North Shore and broader metropolitan area. At the same time, the heavily treed streetscape and low-density character continue to distinguish the precinct from more urbanised parts of Sydney.

The Residences at Wahroonga Estate forms the first stage of <a href="https://www.apartments.com.au/developers/capital-corporation">Capital Corporation</a>’s broader masterplanned vision for the precinct, delivered alongside the Seventh-day Adventist Church.

[smartcode_project:default project_id=135247 project_image_fid=364995]

Designed by <a href="https://www.apartments.com.au/architects/group-gsa">GroupGSA</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/coco-republic-interior-design">Coco Republic</a>, the development integrates landscaped communal spaces including a pet-friendly Green Spine, resident lounge, BBQ pavilion, and direct bushland access, reinforcing the project’s focus on outdoor connection and community-based living.

Now under construction by Gold Star iCIRT-rated builder <a href="https://www.apartments.com.au/builders/dasco-australia">DASCO</a>, The Residences at Wahroonga Estate will deliver a collection of one, two, and three-bedroom apartments priced from $990,000, with completion anticipated in 2027.

[smartcode_project_cta:default project_id=135247]

Larry Schlesinger

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News