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The majority of economists expect the RBA to cut the cash rate to a new record low of 2.5% on August.
Of the 28 economists polled by Bloomberg just before the weekend, 22 expect the RBA to reduce the cash rate to fall by 25 basis points.
ANZ chief economist Warren Hogan is the most notable exception among the six economists expecting the RBA to hold fire.
The others are from Deutsche Bank, J.P. Morgan, Merrill Lynch, QIC and TD Securities.
Looking beyond August, no further rate cut is forecast on September 3 with all economists' surveyed maintaining their August positions.
Beyond September and views are quite divergent.
Macquarie Research and Westpac's Bill Evans foresee a 2% cash rate, the former before the end of the year and the later by the first quarter 0f 2014.
However, Shane Oliver from AMP Capital, expects the cash rate to start rising from the first quarter of 2014 to 2.75% and to reach 3.5% by the end of 2014.
The median view is a cash rate of 2.63% (so either 2.5% or 2.75%) by the end of 2014 - suggesting rates could remain low throughout next year.
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Economists favour rate cut on August 6: Bloomberg survey

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The four major banks are currently writing around 90% of new mortgages
Three out of the four major banks – NAB, Commonwealth Bank and Westpac - are tipping the RBA to cut the cash rate to 2.5% when its board meets in just over a week (August 6).
ANZ expects the RBA to hold fire until the final quarter of the year.
Currently there is not much difference between the major banks when looking at their standard variable rates, but most customers will be offered between 50 and 85 basis points off that rate, depending on factors including how much they borrow, size of their deposit and their credit-worthiness.
These are the lowest advertised variable and fixed mortgage rates on the websites of the major banks as of July 22:
Standard variable rate offerings:
<table width="347" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="137" valign="top">
Provider
</td>
<td width="95" valign="top">
Rate
</td>
<td width="114" valign="top">
Comparison rate*
</td>
</tr>
<tr>
<td width="137" valign="top">
NAB
</td>
<td width="95" valign="top">
6.13%
</td>
<td width="114" valign="top">
6.22%
</td>
</tr>
<tr>
<td width="137" valign="top">
ANZ
</td>
<td width="95" valign="top">
6.13%
</td>
<td width="114" valign="top">
6.23%
</td>
</tr>
<tr>
<td width="137" valign="top">
CBA
</td>
<td width="95" valign="top">
6.15%
</td>
<td width="114" valign="top">
6.29%
</td>
</tr>
<tr>
<td width="137" valign="top">
Westpac
</td>
<td width="95" valign="top">
6.26%
</td>
<td width="114" valign="top">
6.39%
</td>
</tr>
</tbody></table>
Lowest discount variable rate offerings 
<table width="461" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="137" valign="top">
Provider
</td>
<td width="95" valign="top">
Rate
</td>
<td width="114" valign="top">
Maximum advertised discount
</td>
<td width="114" valign="top">
Comparison rate*
</td>
</tr>
<tr>
<td width="137" valign="top">
NAB
</td>
<td width="95" valign="top">
5.28%
</td>
<td width="114" valign="top">
85 basis points
</td>
<td width="114" valign="top">
6.22%
</td>
</tr>
<tr>
<td width="137" valign="top">
CBA
</td>
<td width="95" valign="top">
5.35%
</td>
<td width="114" valign="top">
80 basis points
</td>
<td width="114" valign="top">
6.29%
</td>
</tr>
<tr>
<td width="137" valign="top">
ANZ
</td>
<td width="95" valign="top">
5.43%
</td>
<td width="114" valign="top">
70 basis points
</td>
<td width="114" valign="top">
6.23%
</td>
</tr>
<tr>
<td width="137" valign="top">
Westpac
</td>
<td width="95" valign="top">
5.56%
</td>
<td width="114" valign="top">
70 basis points
</td>
<td width="114" valign="top">
6.39%
</td>
</tr>
</tbody></table>
Lowest one-year fixed-rate package offerings
<table width="347" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="137" valign="top">
Provider
</td>
<td width="95" valign="top">
Rate
</td>
<td width="114" valign="top">
Comparison rate*
</td>
</tr>
<tr>
<td width="137" valign="top">
NAB
</td>
<td width="95" valign="top">
4.79%
</td>
<td width="114" valign="top">
5.83%
</td>
</tr>
<tr>
<td width="137" valign="top">
CBA
</td>
<td width="95" valign="top">
4.79%
</td>
<td width="114" valign="top">
5.93%
</td>
</tr>
<tr>
<td width="137" valign="top">
ANZ
</td>
<td width="95" valign="top">
4.85%
</td>
<td width="114" valign="top">
6.07%
</td>
</tr>
<tr>
<td width="137" valign="top">
Westpac
</td>
<td width="95" valign="top">
5.24%
</td>
<td width="114" valign="top">
6.31%
</td>
</tr>
</tbody></table>
Lowest three-year fixed-rate package offerings
<table width="347" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="137" valign="top">
Provider
</td>
<td width="95" valign="top">
Rate
</td>
<td width="114" valign="top">
Comparison rate*
</td>
</tr>
<tr>
<td width="137" valign="top">
NAB
</td>
<td width="95" valign="top">
4.99%
</td>
<td width="114" valign="top">
5.75%
</td>
</tr>
<tr>
<td width="137" valign="top">
CBA
</td>
<td width="95" valign="top">
4.99%
</td>
<td width="114" valign="top">
5.84%
</td>
</tr>
<tr>
<td width="137" valign="top">
Westpac
</td>
<td width="95" valign="top">
4.99%
</td>
<td width="114" valign="top">
6.09%
</td>
</tr>
<tr>
<td width="137" valign="top">
ANZ
</td>
<td width="95" valign="top">
5.19%
</td>
<td width="114" valign="top">
5.98%
</td>
</tr>
</tbody></table>
 *A comparison rate includes both the interest rate and the fees and charges relating to a loan, combined into a single percentage figure. All comparison rates recorded here are calculated on the basis of secured credit of $150,000 over a 25 year term. Different amounts and terms will result in different comparison rates.
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The four major banks lowest fixed and variable mortgage offerings ahead of August 6 RBA cash rate decision

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The outlook for the residential building sector is mixed with growth expected in the previously underperforming states of NSW, Queensland and WA, but Victoria to weaken as the Melbourne apartment market cools.
Overall, residential building is forecast to decline 2% in the 2013 financial year, before picking up 9% in 2014/15 and 4% in 2015/16.
Nationally, the recovery will see private detached house starts grow by 2% in 2013/14 and 12% in 2014/15. Another lift of 6% will follow in 2015/16.
At the same time private multi-residential dwelling starts will initially fall by 5% in 2013/14 as the Melbourne apartment market cools, before a bounce back of 5% begins in 2014/15 and a further 1% rise the year after.
However, then a cyclical decline will set in with a 5% contraction in 2016/17 followed by an 8% fall in 2017/18.
“[2013/14] will be a year of change in the mix – from Victoria to NSW, and from high rise to bungalows – before gaining strong traction the following year, in 2014/15,” says Dr Kim Hawtrey, associate director at BIS Shrapnel and author of its Building in Australia 2013 report.
The report forecasts a critical 12 month period for the Australian economy as it transitions away from mining investment into non-mining sectors.
“We’re in for a real nail biter,” says Hawtrey.
“We see an upswing in building but it will be uneven and slower to get going than usual.
“The next 12 months will be a critical test of how quickly the construction sector can take on more of the heavy lifting, and the Australian economy will remain balanced on a knife edge.”
The strongest upswings will occur in the prevously underperforming NSW new home building market and in the the two ‘mining’ states of Western Australia and Queensland.
However, Victoria, South Australia, Tasmania and the ACT are all expected to post declines in 2012/13 and this will continue into 2013/14.
Victoria will undergo an “inevitable correction following several record years of phenomenal home building".
“These markets are generally in oversupply, notably Victoria,” says Hawtrey. 
Overall, BIS Shrapnel says that building, especially home construction, is not responding to low interest rates as might be expected.
“Home building has been punching below its weight and normally low mortgage rates would be stimulating the sector toward clear recovery by now.
"But the antibiotics are taking longer to work this time around.
“High household debt, concerns about the global economy, planning restrictions in some states and lack of land supply are among the factors that explain this new phenomenon," says Hawtrey.
Figures for the financial year to date has residential outperforming expectations over 2012/13, with strong results in the September and December 2012 quarters boosting the calendar 2012 result to 147,970 commencements.
The emergence of tentative growth in NSW, Queensland, Western Australia and the Northern Territory as well as a softer than anticipated fall in Victoria are behind the positive results.
Leading indicators suggest that growth in these markets will continue and this fits with BIS Shrapnel’s expectations based off its longer term analysis.
However, despite the low interest rates (set to remain low for the immediate future) and improved housing affordability, BIS Shrapnel notes that the recovery in residential building activity has not been as strong or as quick to set in as some commentators would have expected.
“Although the Australian economy has shown more resilience than many other developed economies, it has faced its own struggles,” says Hawtrey.
“Outside the resources sector, activity has been subdued, with many industries struggling with the higher dollar and the public sector pulling back on spending.
“As investment in the mining sector begins to decline economic growth will weaken and unemployment will pick up. This has already begun to happen and is weighing heavily on confidence.
BIS Shrapnel expects that a fall in residential building in Victoria’s will “basically neutralize the rise in NSW” resulting in an overall 9% pick-up in residential construction in 2014/15 and 4% in 2015/16.
“Momentum will build in the undersupplied states of New South Wales, Queensland and Western Australia driving the national total, whilst declines in Victoria will level out, and South Australia and Tasmania will return to growth off their low levels,” says Hawtrey.
The overall outlook for building (residential and non-residential) is weak with the value of national building commencements is forecast to grow 3% in 2013/14.The sector will then stabilise in 2015/16 (0%) and record falls in 2016/17 and 2017/18.</body></html>

Residential building recovery to transition from “high rise to bungalows” as NSW picks up Victoria’s slack: BIS Shrapnel

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The finance arm of Yellow Brick Road has changed the way it authorises companies and individuals that offer home loan advice under its Australian credit licence, through its 150 plus franchise network.
This following concerns from ASIC. YBR Finance has directly authorised over 100 individuals working in YBR branches as credit representatives (loan writers).
ASIC considered that the national credit licensing framework also required YBR to authorise the companies which operate the branches as the companies also act as intermediaries between the licensee and the consumer. 
ASIC acknowledges YBR's co-operation in responding to this issue and says the franchise group is now in the process of authorising the corporate entities directly under its licence.
Those entities can sub-authorise employees or they can be directly appointed under YBR’s credit licence.
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Yellow Brick Road upgrades credit licence structure following ASIC concerns

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Aussie Home Loans founder John Symond paid at least $100,000 to $150,000 after tax every month to lawyers over a five year period to defend his reputation after receiving a $7 million tax bill from the Australian Tax Office based on poor advice from a former partner of law firm Gadens.
The tax bill with penalties - paid in full in 2008 - related to a restructuring of the Aussie Home Loans business to facilitate a loan Symond sought to build his Point Piper mansion.
Speaking to Ross Greenwood on 2GB Money News this week following Supreme Court Justice Robert Beech-Jones ruling last week that he had received “aggressive and wrong” advice by former Gadens partner Ross Seller in 2003 and 2004, Symond said the court case was about protecting his reputation as well as receiving justice.
John Symond built his reputation on the back of Aussie Home Loans offering ordinary Aussie battlers a fair go when it came to home loan deals with his catch-phrase “We’ll save you” and by his promise to keep the major banks honest.
“It was primarily about reputation, that was the main thing I was concerned about,” said John Symond to Ross Greenwood.
He told Greenwood he received a letter from the tax office after they completed their investigations, which he says showed “no signs of me, nor any of my companies, trying to avoid paying income tax”.
But to clear his name took many years and millions of dollars.
“I went for at least five years paying at least $100,000 to $150,000 after tax dollars every month to lawyers,” said Symond.
“[Gadens] gave me terrible advice and caused me to pay unnecessarily millions of dollars in double taxation to the tax office
“Even the tax office admitted they were never out of pocket a dollar,” he said.
Symond's mansion in Point Piper on Sydney harbour was completed in November 2006.
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Legal bills were $100,000 a month plus for five years: John Symond

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Daniel Grollo’s Grocon development group is partnering with private developer Harry Stamoulis on plans to build a $600 million office tower at 555 Collins Street.
An earlier proposal by the Stamoulis Property Group to build a 404 metre tower on the Western side of Collins Street, just behind the Rialto Tower, was deemed too tall and there were also concerns it would cast a shadow over the Yarra River.
Grocon and Stamoulis are working on a proposal for an office tower to feature around 60,000 square metres of prime space and are already seeking out potential anchor tenants, reports the Australian Financial Review.
There is currently a 24 storey building on the site built in 1975 and owned by the Stamoulis Property Group. It is leased to NAB, with the lease due to expire in 2014.
The partnership with Grocon, should add gravitas to the Stamoulis proposals – the Rialto Tower at 524 Collins Street, once the second tallest building in Melbourne after the Eureka tower was developed by the Grollo family and completed in 1986.
It is all part of efforts to regenerate the less glamorous Western end of Collins Street with construction now underway of the 26 storey 55,000-square-metre office building at 567 Collins Street on the site of a former ‘black hole’.
<a target="_blank" href="https://www.propertyobserver.com.au/retail/richard-branson-s-virgin-active-group-virginactiveoz-exercises-leasing-deal-at-leighton-properties-567-collins-street-development/2013060661996">567 Collins Street, being built by Leighton Contractors</a> and due for completion in 2015, was acquired by Investa Office Fund (IOF) and Investa Commercial Property Fund (ICPF) earlier this year and has signed Richard Branson's Virgin Active gym group as ground floor tenants with other tenants including law firm Corrs Chambers Westgarth who will lease 8,800 square metres.
GPT has recently “revitalised” its premium grade 530 Collins Street, which now has a 5.5 star NABERS Energy rating.
Office space in the tower was advertised for lease last year via an advertising campaign that included street performers and tram advertising, which won Jones Lang LaSalle the REIV’s 2012 Commercial &amp; Industrial Marketing Awards.
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Daniel Grollo's Grocon joins forces with Harry Stamoulis on 555 Collins Street tower project

Investor magazines' 2011 unit hotspots are more misses than hits two years on

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Tiernan O’Rourke has been appointed as the new chief financial officer at Stockland as part of the management shake-up by chief executive Mark Steinert.
O’Rourke will commence in the role on October 20 with current CFO Tim Foster remaining on board until the end of October to ensure a smooth transition.
Steinert announced in May that Foster would step down later in the year once a replacement had been appointed.
O'Rourke is currently chief financial officer at Transfield Services Limited and was previously finance chief at Australand.
A month again, Stockland appointed Andrew Whitson as group executive and chief executive of Stockland's residential business following the departure of Stockland’s former head of residential, <a href="https://www.propertyobserver.com.au/australian-capital-territory/stockland-executive-team-shake-up-as-tim-foster-and-mark-hunter-sacked/2013050861155" target="_blank">Mark Hunter in May</a>.
At the same time Stephen Bull promotedgeneral manager development and design (commercial property) as its new group executive and chief executive of retirement living following the resignation of David Pitman.
Steinert took over as new Stockland boss in January, replacing Matthew Quinn.
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Stockland appoints former Australand executive Tiernan O'Rourke as new finance boss

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A rate cut in August is not inevitable but underlying inflation trends mean the RBA has the justification it needs to cut the cash rate to 2.5% says the Australian Financial Review’s economics editor, Alan Mitchell.
His analysis of the inflation data and broader economic trends suggest it will be a complicated decision for the RBA.
Mitchell says the situation is complicated due to the need to rebalance the economy and for the RBA to “induce a revival of non-mining business investments”.
This is happening to a degree as the most recent NAB business survey revealed but Mitchell says the “investment outlook still looks soft”.
An issue is the Australian dollar, which stopped depreciating in the first week of July and which has since risen slightly – a fall in the dollar will help non-mining sectors of the economy such as tourism, manufacturing and retail.
Mitchell also highlights the difficulty in assessing the true impact of inflation given the different measures used to work underlying inflation – inflation with volatile components stripped out.
He says one measure of underlying inflation has it running at the bottom of the RBA’s 2% to 3% target band, while another shows it running in the top half of this target.
“The lower of the two measures of underlying inflation is more reliable and a simple average of the two readings still has inflation in the bottom half of the target range,” he says.
Fellow AFR economics writer David Bassanese says while underlying inflation could have been lower, it’s “probably good enough” for a rate cut.
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A rate cut in August is “justified” but inflation and economic picture “complicated”: AFR's Alan Mitchell

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Listed commercial property trust Dexus has acquired a 14.9% investment in the Commonwealth Office Property Fund.
The fund holds prime-grade office assets worth $3.7 billion, including a 50% share of  the premium grade 5 Martin Place office tower in Sydney, due for completion in 2015, with law firm Ashurst to occupy 44% of the 31,000 square metres of office space.
Dexus says the investment is consistent with its investment in high quality Australian office properties.
The investment comes <a target="_blank" href="/news">one day after the Commonwealth Bank</a> announced that it had submitted non-binding proposals to internalise the management rights of the Commonwealth Office Property Fund, the CFS Retail Property Trust and the Kiwi Income Property Trust.
All three are managed by the banks’ wealth management arm, Colonial First State Global Asset Management.
This is believed to be as part of plans by the bank to exit the real estate funds management business.
The Australian Financial Review reports that Dexus and GPT are mulling a possible takeover bid for the office fund. They may also bid for the management rights.
Both have strong ties to the funds management business - Dexus chief executive Darren Steinberg was previously managing director of property for Colonial First State Global Asset Management while Carmel Hourigan, head of investment management at GPT, is a former fund manager of the Commonwealth Property Office Fund.
The AFR also names Mirvac, Investa Property, Brookfield and Blackstone as possible bidders for the office fund.
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Dexus acquires 14.9% of Commonwealth Office Property Fund as big players circle

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

Joel Robinson

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

&nbsp;

Developer GURNER™ Group has revealed $1.65 billion in residential sales nationally across the 12 months to December 2025, driven largely by the continued momentum of its Docklands wellness-focused precinct, Elysium Fields.

The sales result was generated across seven projects in Victoria and New South Wales, headlined by Elysium Fields, GURNER™’s $2.75 billion mixed-use precinct planned for Harbour Esplanade in Docklands.

The project has recorded more than $500 million in sales across the first three towers, equating to around 580 apartments sold.

The first tower, Helios, has now sold out of its 240 private residences, with GURNER™ preparing to release a premium penthouse collection comprising 15 three-bedroom penthouses in coming weeks.

[smartcode_project:default project_id=144441 project_image_fid=370975]

Elysium Fields is being developed on the long-held 20,000 sqm Docklands site at 208-226 Harbour Esplanade, which had remained undeveloped for more than two decades prior to GURNER™ taking over the project around four years ago.

Construction has now commenced across four towers ranging between 18 and 30 storeys, with Hamilton Marino and Maxcon appointed as builders.

Once complete, the precinct is expected to comprise around 1,100 residences, alongside retail, hospitality and public realm uses integrated throughout the site.

[smartcode_project:default project_id=144441 project_image_fid=370981]

Designed by Fraser &amp; Partners in collaboration with GURNER™ Design House, the project has been positioned around the developer’s broader focus on wellness-led residential living.

“We don’t sell apartments. We create a true luxury lifestyle that simply doesn’t exist elsewhere in the market today,” Founder and Executive Chairman Tim Gurner said.

“To deliver that requires an extraordinary level of detail, coordination and discipline across multiple verticals, from design and hospitality through to wellness and service.”

“We’ve always believed that living extends far beyond the physical residence. It’s about how you feel the moment you arrive, how you live day-to-day, and the ecosystem that supports that.” 
[smartcode_project:default project_id=144441 project_image_fid=370977]

The project’s design places a heavy focus on landscaping, wellness amenities and biophilic design principles.

Plans include around 3,700 sqm of landscaped gardens and open space throughout the precinct, alongside a retail and dining offering spanning approximately 5,000 sqm.

The broader public realm strategy centres around what GURNER™ describes as the “Path of Life”, an urban forest and landscaped pedestrian environment intended to connect the various buildings and wellness spaces across the precinct.

The apartments themselves will incorporate a range of wellness-focused inclusions, including purified air and water systems, circadian lighting, antimicrobial surfaces, and optional in-home wellness upgrades.

[smartcode_project:default project_id=144441 project_image_fid=370980]

Gurner said the company’s experience through its Saint Haven wellness clubs had directly informed the residential offering now being incorporated into Elysium Fields.

“We’re seeing a clear global shift toward longevity, performance and proactive health,” Gurner said.

“Our role is to deliver that in a way that feels seamless, highly private and beautifully resolved within the environments we create.”

A large component of the wellness offering is planned through the resident amenity and health facilities proposed within the precinct.

That includes plans for bathing and recovery facilities spread throughout the towers, incorporating mineral pools, saunas, steam rooms, flotation therapy, red light therapy and wellness lounges.

The developer is also seeking approvals for what it describes as a “reverse ageing medical clinic” within the precinct.

[smartcode_project:default project_id=144441 project_image_fid=370978]

According to project information released by the group, the proposed facility would include cryotherapy, IV infusion therapy, infrared and dry saunas, PEMF beds, MRIs, DEXA scans, brain scans and blood analysis services.

Within the first tower, Helios, residents will also have access to a dedicated amenity offering known as the Sky Private Club.

The upper 15 levels of the building will include private lounges, dining spaces, rooftop amenities and optional private wellness studios integrated within residences.

The Helios tower itself comprises 260 apartments ranging between 60 sqm and 300 sqm, including a collection of penthouses.

That includes a planned two-storey penthouse spanning around 600 sqm with uninterrupted bay views.

The Elysium Fields precinct is being delivered in partnership with Digital Harbour Holdings, a consortium that includes the Liberman family, which controls the development rights across the Docklands site.

[smartcode_project:default project_id=144441 project_image_fid=370979]

The sales result comes as GURNER™ continues expanding its national development pipeline beyond Victoria.

“We have a strong pipeline across Australia and are now focused on scaling into key markets including New South Wales and Queensland, while continuing to build on our Melbourne base,” Gurner said.

“We currently have more than $3 billion in the market, growing to over $5 billion by October, and expect to materially outperform last year in the 2026 calendar year.”

The result also reflects the continued strength of the upper-end apartment market in Melbourne, particularly for owner-occupier-focused product with large-scale amenity and lifestyle offerings.

[smartcode_project_cta:default project_id=144441]

Record result anchored by the Group’s “utopian” Elysium Fields precinct – defying market headwinds in Docklands.

Elysium Fields drive Gurner to $1.65 billion in apartment sales over 2025

National Australia Bank (NAB) will fund <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera</a>, a $1 billion, 52-level luxury residential tower being developed by Central Equity in one of the Gold Coast’s most tightly held coastal locations at Northcliffe.

The project, launched recently by <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a>, one of Victoria’s largest private residential developers, comes at a time when construction funding for large residential developments has become increasingly competitive as lenders tighten exposure to the sector.

Multiplex has been appointed the builder, and construction is now underway.

[smartcode_project:default project_id=108274 project_image_fid=365784]

Since its first project, Central Equity has delivered more than 85 residential developments with a combined end value exceeding $8 billion.

Palmera reflects Central Equity’s growing focus on the Gold Coast luxury apartment market and continues a relationship between Central Equity and NAB that dates back to the late 1980s, when the bank funded one of Melbourne’s earliest inner-city residential towers at a time when high-rise apartment living in the CBD was largely unproven.

“NAB’s funding of Central Equity’s $36 million CBD development in the late 1980’s to the financing of the billion-dollar tower today highlights the long-term relationship between the two organisations in delivering major residential projects” said Central Equity Founder and Chairman Eddie Kutner.

He said NAB’s early support was instrumental in helping establish the company’s development model.

“When we commenced our first residential tower in the late 1980s the concept of funding off-the-plan apartments was still largely untested in Australia,” Kutner said.

“NAB recognised the opportunity early and supported the project when others were uncertain. That relationship has now continued for more than 37 years across many developments.”

[smartcode_project:default project_id=108274 project_image_fid=365771]

Central Equity was established in 1987 when Melbourne’s CBD and Southbank precinct were still dominated by warehouses and commercial buildings. Fewer than 100 residents lived in Southbank at the time, and large-scale residential development in the inner city was not widely considered.

Recognising changing demographics and lifestyle preferences, the company began developing high-rise residential projects designed to bring permanent residents into the city centre.

Central Equity has provided accommodation for approximately 40,000 residents across Melbourne’s CBD and Southbank, while also incorporating supporting infrastructure including essential lifestyle facilities like retail spaces, childcare facilities and neighbourhood activity centres.

Central Equity has spent many years assembling the Palmera development site on the corner of Garfield Terrace and Frederick Street in Northcliffe, creating a supersite of around 3,300 sqm.

The developer said the Palmera apartment tower reflects its long-term view of the Gold Coast as a growing and increasingly diversified economy.

[smartcode_project:default project_id=108274 project_image_fid=365768]

Supported by infrastructure including the light rail network, major road upgrades expanded education, hospital and medical facilities and continued expansion at the Gold Coast Airport with more international and domestic flights.

Positioned in the tightly held Northcliffe precinct, the 52-level tower will deliver 347 apartments, targeting buyers seeking a high-end coastal lifestyle, from downsizers to interstate investors.

Designed by Marchese Partners with interiors by DBI, Palmera has been conceived as a next-generation residential offering, featuring a collection of oversized apartments, with premium three-bedroom residences offering sweeping northern views stretching from Surfers Paradise through to Burleigh Heads.

[smartcode_project_cta:default project_id=108274]

NAB funds $1 billion Surfers Paradise apartment development, Palmera

Two years after completing one of the newest developments in North Sydney, developer <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a> is turning its attention to the rapidly evolving St Leonards apartment market.

The developer, which completed AURA by Aqualand on North Sydney's Walker Street, has lodged plans for a 5,918 sqm site at <a href="https://www.apartments.com.au/new-apartments/33-37-herbert-street-st-leonards-nsw-2065">33-37 Herbert Street, St Leonards,</a> seeking approval for a pair of residential towers rising above a shared podium opposite Royal North Shore Hospital.

The proposal forms part of the broader transformation underway across the St Leonards-Crows Nest precinct, where former industrial and commercial sites are increasingly being redeveloped into high-density mixed-use projects tied to major transport infrastructure.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="2cc428cf-fe70-4cac-9cd5-264ad53af62c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.56%E2%80%AFAM.png?VersionId=otKSnHtbjAvAddOnovyXQMgcAwE6DMe1" />

According to the planning documents, the site sits “within the St Leonards–Crows Nest Strategic Centre, identified by the NSW Government as a key area for accommodating future jobs and housing across Sydney.”

The proposal has been designed by fjcstudio, formerly FJMT Studio, and is being progressed through the State Significant Development pathway due to its scale and affordable housing provision.

The scheme would comprise 413 apartments, including 46 affordable housing units, alongside retail and commercial uses fronting Herbert Street. The project would also include communal open space, landscaping, a swimming pool, gymnasium, children’s play areas and podium-level resident amenities.

Planning documents show the development would consist of a part-13, part-39 storey tower form positioned above a four-storey podium.

“The development comprises a unified podium that activates the street interface, and two setback towers to accommodate new housing supply while maintaining an appropriate human scale at ground level,” fjcstudio noted in its Design Report.

The northern and southern towers have been shaped to respond to the surrounding skyline while also limiting overshadowing impacts to nearby public open space, particularly Talus Reserve.

The design report said the differing tower heights were intended to “contribute to a varied skyline while responding to the surrounding built form context and solar access considerations.”

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="36da62dc-ff9e-41f2-a7e3-7be38373751c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.45%E2%80%AFAM_0.png?VersionId=Mo6Rp2r.XRLTzIfg_PEEpw8NepDH8UBs" />

The site sits directly opposite Royal North Shore Hospital and within walking distance of both St Leonards Station and the new Crows Nest Metro station.

While the site itself sits just outside the formal Crows Nest Transport Oriented Development boundary, the planning documents repeatedly reference its alignment with the broader TOD objectives reshaping the Lower North Shore.

“The site is located adjacent to St Leonards Station and in close proximity to Crows Nest Metro which is within the Crows Nest Transit Orientated Development Accelerated Precinct which has been identified by the NSW Government to support housing delivery,” the Design Verification Statement noted.

According to fjcstudio, the project has been designed to respond to the broader transition occurring across St Leonards, where increasing residential density is being concentrated around transport infrastructure and employment hubs.

“The broader precinct is undergoing significant change, with a mix of existing mid-rise buildings and newer high-density developments,” the report stated.

“Recent and approved projects indicate a consistent shift toward taller built form, typically organised as tower-and-podium typologies with more active ground levels.”

The proposal includes close to 6,000 sqm of retail and commercial space across the ground floor and podium levels, designed to create a more activated street edge along Herbert Street.

Aqualand’s plans would also introduce a landscaped podium shared between the two towers, with communal open space in the form of a podium rooftop designed to support resident interaction and improve urban greening outcomes. The scheme would also introduce pocket parks at the northern and southern ends of the site, including a landscaped area at the corner of Herbert and Ella streets designed to improve pedestrian amenity and soften the streetscape.

&nbsp;

The proposal is being progressed through the NSW Government’s Housing Delivery Authority pathway, which was introduced to accelerate housing supply across the state. The application was declared State Significant Development in April 2025 following an expression of interest process.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="faf6d97d-2671-454f-b85a-fe1c6a7be608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.49%E2%80%AFAM.png?VersionId=diVd28OBVr5.YV.7prrOz.uAanwwwm7a" />

St Leonards has been particularly active with new developments in recent weeks. Developer SP Setia’s <a href="https://www.apartments.com.au/news/nsw/first-look-sp-setia-targets-st-leonards-skyline-with-40-storey-tod-tower">plans for a new 42-storey tower</a> recently went on exhibition through the same pathway, while <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">Stockland’s 52-storey tower proposal</a> was also recently unveiled.

Aside from the St Leonards project, which is expected to take around nine months to move through the approvals process ahead of a potential 2027 launch, Aqualand is also preparing to launch Boronia, a new apartment project in Roseville comprising around 111 apartments on Larkin Street.

The developer also has approvals in place for the next stage of the Barangaroo precinct, which will feature new residential, retail, hospitality and community uses, alongside a new metro entry across the five-hectare site.

More than 50 new retail destinations are planned for Central Barangaroo, alongside a 270-metre-long boulevard connecting Hickson Park to Nawi Cove. Together with Harbour Park, more than 50 per cent of the precinct will comprise public open space and parkland.

Larry Schlesinger

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