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HSBC Australia chief economist Paul Bloxham says there is “some room for [house] prices to increase” in his latest note on the performance of the Australian economy.
“After a period of falling housing prices in the 18 months to May 2012, there is also some room for prices to increase, although excessive price growth would be a worry, given housing prices are already quite high,” writes Bloxham in his latest Downunder Digest.
The digest notes the pick-up in retail sales in January and February and that consumer sentiment is around two-year highs.
Bloxham expects that “below neutral monetary policy should support a consumer revival” freeing up cash for the majority of borrowers who have variable rate mortgages.
“Low rates have boosted consumer cash flows, as around 90% of mortgages are on floating rates and RBA cuts have largely flowed through to effective rates.
“Low rates are also encouraging portfolio shifts from deposits to equities and housing, which is also boosting household wealth. Rising household wealth encourages consumption and less saving,” Bloxham says.
Bloxham expects a recovery in retail sales to be supported by an upturn in housing construction, “which already appears to be underway”.
“As more houses are built, we expect demand for consumer durables to rise to fill these houses.
“While on-line sales have been a key source of competition for domestic retailers in recent years, durable goods are still largely purchased through traditional shop front retailers. We expect an upturn in sales of durable goods to support the local retail sector.
"Hence, our view remains that ‘Australian retailers are to see a better 2013’," Bloxham says.
The rosier outlook for retailers is driven by low rates and less impact from the Australian dollar.
“In addition to the effect of low rates, we also expect that the Australian dollar is no longer putting as much downward pressure on local retail sales as it had been in 2010 and 2011,” says Bloxham.
“Back then, the strong Australian dollar appreciation had encouraged very strong growth in overseas departures of Australian residents, as more people chose to go on international holidays.
"This meant more dollars leaking offshore, as there was less domestic travel and more spending abroad.
“But growth in overseas departures has slowed. While it is still a drag on local spending, the drag is easing. In this way, the Australian dollar effect on growth is starting to wear off.”
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lschlesinger-FZcF9M3vE6

“Some room” for house prices to increase as low interest rates support “consumer revival”: HSBC’s Paul Bloxham

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Four Melbourne businesses running seminars on investing in real estate through self-managed super funds are being investigated by ASIC over the potentially misleading nature of flyers, advertisements and online ads promoting these seminars.
The four businesses operating in the 'sand belt' region of the city - a law firm, a mortgage broker, a real estate agency and a firm of chartered accountants – are named in a leaked letter sent by ASIC commissioner Peter Kell to Liberal MP Peter Fletcher.
The letter was obtained by the Australian Financial Review.
Their last known seminar was held in late 2011.
It follows a review of property sales by the special SMSF taskforce established last year by ASIC chairman Greg Tanzer to examine “high-risk SMSF issues” with its first major project, being “looking at the quality of advice provided to investors”.
ASIC has yet to form an opinion as to whether the material being promoted by these four companies was unlawful.
It comes as part of an ASIC drive to improve the quality of advice provided to SMSF trustees as the sector continues to expand as does the appeal of property as an income-generating asset to hold in these funds.
A spokesperson for ASIC would not comment on the companies named in the letter, but told Property Observer it was “cracking down on the sector, including advertising”. He said ASIC had released guidance for how investing in property through SMSFs should be advertised and expected promoters to adhere to these guidelines.
“We don’t want SMSF investors to become the targets of unscrupulous spruikers," he said.
The guidance on advertising is contained in <a href="https://www.asic.gov.au/asic/pdflib.nsf/LookupByFileName/rg234-published-15-November-2012.pdf/%24file/rg234-published-15-November-2012.pdf" target="_blank">Regulatory Guide 234</a> - Advertising financial products and services (including credit): Good practice guidance.
“Advertisements for financial products and credit products should give a balanced message about the returns, features, benefits and risks associated with the product. Benefits should not be given undue prominence compared with risks,” reads the guide.
ASIC established its special SMSF taskforce in September last year.
In a speech made earlier this month ASIC commissioner Peter Kell said it had been established due to several concerning developments including “an increase in geared investment strategies and increasingly aggressive advertising for SMSFs”.
ASIC does not regulate direct property investment, except where the investment is made through an SMSF.
“In the last year we have seen a rise in SMSF advertising. Unfortunately, we’ve seen more blatant examples of misleading or deceptive advertisements. Particular problem areas we have seen include misleading or deceptive statements about SMSF fees, returns and risks,” said Kell in his speech.
Following this speech, Kell later warned that ASIC “did not want to see SMSFs become the vehicle of choice for property spruikers.
“Where we see examples of unlicensed SMSF advice, or misleading marketing, we will be taking regulatory action," he said.
In its report on the sector released earlier this month, ASIC said it had seen “blatant examples of misleading or deceptive advertising and have taken regulatory action to stop these advertisements”.
“Particular problem areas we have seen include misleading or deceptive statements about SMSF fees; SMSF returns; and SMSF risks.
Misleading advertising of property investment through self-managed super funds can result in ASIC seeking civil penalties of up to $340,000 for an individual or $1.7 million for a body corporate, investors being compensated and orders seeking correct disclosure.
ASIC’s particular areas of focus over the next 12 months are:
<ul>
<li>enforcement—looking at unlicensed financial advice, misleading or deceptive advertising in relation to SMSFs, and continuing to actively pursue enforcement matters in the SMSF sector; </li>
<li>policy implementation—working with accountants following the Government’s announcement to remove the accountants’ exemption, consulting on SMSF issues (e.g. SMSF disclosure requirements and the costs of establishing an SMSF) and registering SMSF auditors; and </li>
<li>education and disclosure—continuing our financial literacy work, updating our MoneySmart website to provide Australian consumers with useful and reliable information about all types of superannuation, including SMSFs, and examining investor attitudes to SMSFs. </li>
</ul>
In March, the Australian Taxation Office revealed it expects more than 1,000 applications a week to be lodged for SMSFs in May and June this year.
<ul></ul>
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Melbourne sandbelt SMSF property spruikers face ASIC probe over seminar advertising

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Australand’s residential division had an “encouraging” start to 2013 with “solid sales activity” recorded over the first three months of the year, managing director Bob Johnston told shareholders at yesterday’s annual general meeting.
Johnston said Australand has built on its “strong contracts on hand position at the start of the year” to average around 190 sales per month for the January quarter.
“This is an encouraging start to the year and puts us in a good position to achieve our full year targets,” he said.
Australand has one of the biggest residential lot portfolios in the country with 20,400 lots under management with an estimated end value of $8 billion.
Johnston highlighted that “importantly” most of its residential projects (master planned communities and inner city apartment developments) are zoned and weighted to the biggest housing markets of Sydney and Melbourne.
“We see our ability to create and deliver new product at our below the median price in each of our markets as a key competitive advantage.
“This is particularly important as homebuyers are confronted with a lack of new, affordable housing options,” he said.
Johnston added that the residential sector continued to be a “deep and undersupplied market” noting that affordability had improved “significantly” with the fall in mortgage rates.
Projects selling well in 2013, Johnston said, were its medium density “Local” project in Carlton, in inner Melbourne which will deliver 675 apartments when completed and its <a href="https://residential.australand.com.au/land/nsw/sutherland-shire/greenhills-beach#forsale" target="_blank">Greenhills Beach master planned development</a> (pictured below) in Cronulla, in Sutherland Shire, Sydney.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/04/greenhillsapril23one.jpg" alt="greenhillsapril23one" width="470" height="279">
Local delivered 97 sales over 2012 at an average price point of $500,000 with a further 89 sales recorded at year end.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/04/greenhillsapril23two.jpg" alt="greenhillsapril23two" width="470" height="301">
Greenhills Beach managed 136 lots sales in 2012 at an average price of $830,000 and “has continued to deliver solid sales in the first quarter of 2013”.
Other projects continuing to sell well include Hamilton Reach on the Brisbane River and Cockburn Central, 20 kilometres south of the Perth CBD.
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Greenhills Beach helps Australand report “solid” residential sales activity in 2013 first quarter

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Investors who purchased a house in the east Melbourne suburb of Box Hill based on its inclusion in last year’s Hot 100 list published by Australian Property Investor (API) magazine are unlikely to be a happy bunch.
As API published its flagship 2013 Hot 100 list this month, Property Observer analysed the performance of all 100 suburbs that made it on to last year’s list.
We found that Box Hill was the poorest performing detached housing market on last year’s list, which included suburbs that were expected to show growth over the following 12 months and beyond.
But rather than rise as expected, Box Hill's median house price has fallen 19% between publication of the 2012 and 2013 Hot 100 reports. And it fails to make a re-appearance on the latest list of hotspots.
Of the 90 hot spot suburbs from 2012 where comparison were possible, 25 locations recorded declined of 1% or more over the year, 19 locations treaded water, 34 recorded gains of between 1% and 10% in their median house prices and 12 managed gains of more than 10%. 
According to Australian Property Monitors (APM) data published by API Magazine, Box Hill recorded a median house price of $545,000 based on sales of 111 houses over the 12 months to January 2013.
This compares with a median price of $748,000 recorded from 101 sales for the 12 months to December 2011.
Box Hill was picked last year because of its good local council,  good location – just 13 kilometres east of the Melbourne CBD – and because of its status as one of Melbourne’s biggest transport interchanges “expected to accommodate a significant increase in housing around the core retail district”.
The suburb is the site of the $447 million Box Hill hospital redevelopment while the Cromwell Property Group recently raised $66 million from investors for a new 20-storey ATO building.
While investing in property is clearly a long-term play – a point highlighted by API Magazine - and Box Hill prices may yet rise as these major projects are completed, investors who bought in the suburb will be dismayed to learn that Box Hill is not among the 29 suburbs that have scored consecutive mentions in both 2012 and 2013 Hot 100 lists prepared by API Magazine.
Three other Melbourne suburbs, picked as hotspots last year by API, recorded near 10% annual declines in median values, with Broadmeadows house prices falling 10%, Sunshine prices down 9.4% and Northcote prices down 8.1%.
At the other end of the spectrum, the inner Perth suburb of Highgate, just 1.7 kilometres from the CBD, has been a hotspot standout, with house median prices up 43% over the same period.
For the 12 months to January 31 2013, APM records a Highgate median house price of $609,000 from 40 sales compared with a median house price of $497,000 for the 12 months to December 2011.
Highgate was included on the Hot 100 list based on good local council involvement in creating “mixed-use hubs” in surrounding areas, great accessibility to the city centre via road and train and good amenities and services in neighbouring suburbs like Mount Lawley and East Perth.
In addition, and as indicated by the small number of sales recorded, Highgate is a tightly-held suburb with “aesthetic appeal”
Surprisingly and despite the strong showing, Highgate is not listed as a hot spot in this year’s list, though a number of other eastern Perth suburbs are, including Dianella (6 kilometres north east of Perth), Carlisle ( 6 kilometres south east of Perth), Bayswater (6.6 kilometres north east of Perth) and Belmont (6.5 kilometres east of Perth.)
WA locations dominated the best performing locations from the 2012 list with Highgate followed by the Pilbara mining hotspots of Karratha (up 36.4%), Newman (up 25.5%) and Onslow (22.6%).
Just 29 suburbs have made it onto the hotlist for the second year in a row demonstrating the fleeting nature of so-called “hotspots”
The report highlights the challenges in picking property investment hotspots and the importance of doing your own research.
Indeed, API Magazine, in its guide to this year’s list says readers should not buy a property in a location “just because it’s in the Hot 100”.
However, it does say that suburbs have been picked for their “growth prospects over the next 12 months as well as the longer term”.
“This list isn’t your due diligence. You must do your own detailed homework into any area you’re going to invest in, as well as the property type,” says API.
<table style="width: 309px;" frame="box" border="0" cellpadding="0" cellspacing="0">
<colgroup>
<col width="141">
<col width="168">
</colgroup>
<tbody>
<tr height="21">
<td height="21" width="141">Suburb</td>
<td width="168">Houses (12 month change)</td>
</tr>
<tr height="21">
<td height="21" width="141">Box Hill, VIC</td>
<td width="168">-19%</td>
</tr>
<tr height="21">
<td height="21" width="141">Port Adelaide, SA</td>
<td width="168">-14.80%</td>
</tr>
<tr height="21">
<td height="21" width="141">Broadmeadows, VIC</td>
<td width="168">-10%</td>
</tr>
<tr height="21">
<td height="21" width="141">Sunshine, VIC</td>
<td width="168">-9.40%</td>
</tr>
<tr height="21">
<td height="21" width="141">Townsville, QLD</td>
<td width="168">-8.30%</td>
</tr>
<tr height="21">
<td height="21" width="141">Northcote, VIC</td>
<td width="168">-8.10%</td>
</tr>
<tr height="21">
<td height="21" width="141">South Brisbane, QLD</td>
<td width="168">-8.10%</td>
</tr>
<tr height="21">
<td height="21" width="141">Ascot Vale, VIC</td>
<td width="168">-7.90%</td>
</tr>
<tr height="21">
<td height="21" width="141">Mandurah, WA</td>
<td width="168">-6.90%</td>
</tr>
<tr height="21">
<td height="21" width="141">Oakey, QLD</td>
<td width="168">-6.90%</td>
</tr>
<tr height="21">
<td height="21" width="141">Carindale, QLD</td>
<td width="168">-6.70%</td>
</tr>
<tr height="21">
<td height="21" width="141">Frankston, VIC</td>
<td width="168">-5.70%</td>
</tr>
<tr height="21">
<td height="21" width="141">Smithton, TAS</td>
<td width="168">-5.30%</td>
</tr>
<tr height="21">
<td height="21" width="141">Dickson, ACT</td>
<td width="168">-4.80%</td>
</tr>
<tr height="21">
<td height="21" width="141">Keperra, QLD</td>
<td width="168">-4.00%</td>
</tr>
<tr height="21">
<td height="21" width="141">Magill, SA</td>
<td width="168">-3.70%</td>
</tr>
<tr height="21">
<td height="21" width="141">Warrane, TAS</td>
<td width="168">-3.60%</td>
</tr>
<tr height="21">
<td height="21" width="141">Eden Hill, WA</td>
<td width="168">-3.20%</td>
</tr>
<tr height="21">
<td height="21" width="141">Werribee, VIC</td>
<td width="168">-3.20%</td>
</tr>
<tr height="21">
<td height="21" width="141">Stafford, QLD</td>
<td width="168">-2.20%</td>
</tr>
<tr height="21">
<td height="21" width="141">Dandenong, VIC</td>
<td width="168">-2.10%</td>
</tr>
<tr height="21">
<td height="21" width="141">Warrnambool, VIC</td>
<td width="168">-1.90%</td>
</tr>
<tr height="21">
<td height="21" width="141">Coorparoo, QLD</td>
<td width="168">-1.60%</td>
</tr>
<tr height="21">
<td height="21" width="141">Ningi, QLD</td>
<td width="168">-1.50%</td>
</tr>
<tr height="21">
<td height="21" width="141">Woodville West, SA</td>
<td width="168">-1.50%</td>
</tr>
<tr height="21">
<td height="21" width="141">Maitland, NSW</td>
<td width="168">-0.90%</td>
</tr>
<tr height="21">
<td height="21" width="141">Southport, QLD</td>
<td width="168">-0.90%</td>
</tr>
<tr height="21">
<td height="21" width="141">Ceduna, SA</td>
<td width="168">-0.80%</td>
</tr>
<tr height="21">
<td height="21" width="141">Indooroopilly, QLD</td>
<td width="168">-0.80%</td>
</tr>
<tr height="21">
<td height="21" width="141">Camperdown, NSW</td>
<td width="168">-0.70%</td>
</tr>
<tr height="21">
<td height="21" width="141">Sherwood, QLD</td>
<td width="168">-0.60%</td>
</tr>
<tr height="21">
<td height="21" width="141">Armadale, WA</td>
<td width="168">-0.40%</td>
</tr>
<tr height="21">
<td height="21" width="141">Coburg, VIC</td>
<td width="168">-0.20%</td>
</tr>
<tr height="21">
<td height="21" width="141">Moorooka, QLD</td>
<td width="168">0%</td>
</tr>
<tr height="21">
<td height="21" width="141">Parap, NT</td>
<td width="168">0%</td>
</tr>
<tr height="21">
<td height="21" width="141">Port Lincoln, SA</td>
<td width="168">0.20%</td>
</tr>
<tr height="21">
<td height="21" width="141">Turner, ACT</td>
<td width="168">0.20%</td>
</tr>
<tr height="21">
<td height="21" width="141">Ballarat, VIC</td>
<td width="168">0.30%</td>
</tr>
<tr height="21">
<td height="21" width="141">Mentone, VIC</td>
<td width="168">0.40%</td>
</tr>
<tr height="21">
<td height="21" width="141">Bunbury, WA</td>
<td width="168">0.50%</td>
</tr>
<tr height="21">
<td height="21" width="141">West Footscray, VIC</td>
<td width="168">0.50%</td>
</tr>
<tr height="21">
<td height="21" width="141">Fremantle, WA</td>
<td width="168">0.60%</td>
</tr>
<tr height="21">
<td height="21" width="141">Granville, NSW</td>
<td width="168">0.90%</td>
</tr>
<tr height="21">
<td height="21" width="141">Ringwood, VIC</td>
<td width="168">0.90%</td>
</tr>
<tr height="21">
<td height="21" width="141">Footscray, VIC</td>
<td width="168">1.00%</td>
</tr>
<tr height="21">
<td height="21" width="141">Chermside, QLD</td>
<td width="168">1.10%</td>
</tr>
<tr height="21">
<td height="21" width="141">Como, WA</td>
<td width="168">1.10%</td>
</tr>
<tr height="21">
<td height="21" width="141">Marrickville, NSW</td>
<td width="168">1.30%</td>
</tr>
<tr height="21">
<td height="21" width="141">Westminster, WA</td>
<td width="168">1.30%</td>
</tr>
<tr height="21">
<td height="21" width="141">Yeerongpilly, QLD</td>
<td width="168">1.50%</td>
</tr>
<tr height="21">
<td height="21" width="141">Toowoomba, QLD</td>
<td width="168">2.00%</td>
</tr>
<tr height="21">
<td height="21" width="141">Edgewater, WA</td>
<td width="168">2.30%</td>
</tr>
<tr height="21">
<td height="21" width="141">Thornbury, VIC</td>
<td width="168">2.30%</td>
</tr>
<tr height="21">
<td height="21" width="141">Enmore, NSW</td>
<td width="168">2.50%</td>
</tr>
<tr height="21">
<td height="21" width="141">Erskineville, NSW</td>
<td width="168">2.60%</td>
</tr>
<tr height="21">
<td height="21" width="141">Blacktown, NSW</td>
<td width="168">2.70%</td>
</tr>
<tr height="21">
<td height="21" width="141">Perth CBD, WA</td>
<td width="168">3.00%</td>
</tr>
<tr height="21">
<td height="21" width="141">Orange, NSW</td>
<td width="168">3.30%</td>
</tr>
<tr height="21">
<td height="21" width="141">Heathridge, WA</td>
<td width="168">3.50%</td>
</tr>
<tr height="21">
<td height="21" width="141">Maroubra, NSW</td>
<td width="168">3.80%</td>
</tr>
<tr height="21">
<td height="21" width="141">Murarrie, QLD</td>
<td width="168">3.90%</td>
</tr>
<tr height="21">
<td height="21" width="141">Kellyville, NSW</td>
<td width="168">4.00%</td>
</tr>
<tr height="21">
<td height="21" width="141">Underwood, QLD</td>
<td width="168">4.30%</td>
</tr>
<tr height="21">
<td height="21" width="141">Hackham, SA</td>
<td width="168">4.40%</td>
</tr>
<tr height="21">
<td height="21" width="141">Joondalup, WA</td>
<td width="168">4.50%</td>
</tr>
<tr height="21">
<td height="21" width="141">Willetton, WA</td>
<td width="168">5.10%</td>
</tr>
<tr height="21">
<td height="21" width="141">Osbourne Park, WA</td>
<td width="168">5.40%</td>
</tr>
<tr height="21">
<td height="21" width="141">Dunsborough,WA</td>
<td width="168">5.60%</td>
</tr>
<tr height="21">
<td height="21" width="141">Hamilton Hill, WA</td>
<td width="168">5.70%</td>
</tr>
<tr height="21">
<td height="21" width="141">Yangebup, WA</td>
<td width="168">5.80%</td>
</tr>
<tr height="21">
<td height="21" width="141">Cloverdale, WA</td>
<td width="168">6.10%</td>
</tr>
<tr height="21">
<td height="21" width="141">Belmont, WA</td>
<td width="168">7.40%</td>
</tr>
<tr height="21">
<td height="21" width="141">Midland, WA</td>
<td width="168">7.70%</td>
</tr>
<tr height="21">
<td height="21" width="141">Roxby Downs, SA</td>
<td width="168">8.30%</td>
</tr>
<tr height="21">
<td height="21" width="141">Bendigo, VIC</td>
<td width="168">8.70%</td>
</tr>
<tr height="21">
<td height="21" width="141">Whyalla, SA</td>
<td width="168">8.70%</td>
</tr>
<tr height="21">
<td height="21" width="141">Mackay, QLD</td>
<td width="168">9.40%</td>
</tr>
<tr height="21">
<td height="21" width="141">Carlton North, VIC</td>
<td width="168">9.60%</td>
</tr>
<tr height="21">
<td height="21" width="141">Summer Hill, NSW</td>
<td width="168">10.90%</td>
</tr>
<tr height="21">
<td height="21" width="141">Neutral Bay, NSW</td>
<td width="168">12.50%</td>
</tr>
<tr height="21">
<td height="21" width="141">Port Hedland, WA</td>
<td width="168">13.20%</td>
</tr>
<tr height="21">
<td height="21" width="141">Roma, QLD</td>
<td width="168">14.20%</td>
</tr>
<tr height="21">
<td height="21" width="141">Moranbah, QLD</td>
<td width="168">14.50%</td>
</tr>
<tr height="21">
<td height="21" width="141">Norwood, SA</td>
<td width="168">14.50%</td>
</tr>
<tr height="21">
<td height="21" width="141">Nundah, QLD</td>
<td width="168">16.30%</td>
</tr>
<tr height="21">
<td height="21" width="141">Broome, WA</td>
<td width="168">16.70%</td>
</tr>
<tr height="21">
<td height="21" width="141">Onslow, WA</td>
<td width="168">22.60%</td>
</tr>
<tr height="21">
<td height="21" width="141">Newman, WA</td>
<td width="168">25.50%</td>
</tr>
<tr height="21">
<td height="21" width="141">Karratha, WA</td>
<td width="168">36.40%</td>
</tr>
<tr height="21">
<td height="21" width="141">Highgate, WA</td>
<td width="168">43.00%</td>
</tr>
<tr height="20">
<td height="20" width="141">Source: API Magazine</td>
<td></td>
</tr>
</tbody>
</table>
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Hit and miss hotspots: Box Hill flames out while Highgate, Karratha, Newman and other WA mining locations are on fire

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The Redcape Property Fund has appointed John Russell, the former chief financial officer of Australian Leisure &amp; Hospitality Group, as its new chief executive.
The announcement was made by Redcape chairman Trevor O'Hoy.
O’Hoy, the former boss of Fosters, said the appointment of Russell completed the formation of the executive leadership team and would help Redcape "achieve the board's strategic objectives for its portfolio of outstanding freehold and leasehold pub assets".
The formerly ASX-listed group has been under the stewardship of O’Hoy while an international search has been underway for a chief executive.
In his most recent executive role, Russell led Customers Limited, Australia's largest owner and operator of ATMs.
<a target="_blank" href="/news">O'Hoy</a> was appointed chairman of the privatised pub landlord group in May last year.
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Redcape completes executive team with John Russell appointed chief executive

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Gold Coast real estate company Total Project Marketing Pty Ltd is being prosecuted by the Fair Work Ombudsman for allegedly underpaying three salespeople a total of more than $53,000.
The majority of the alleged underpayments relate to sales commissions earned by the three salespeople.
Total Project Marketing is based at Ashmore and bill itself as a "specialist project marketing agency that manages the marketing of residential projects in northern New South Wales, Gold Coast, Brisbane, Sunshine Coast and Northern Queensland".
<div align="justify" style="color: #505050; font-family: verdana, 'bitstream vera sans', arial, helvetica, sans-serif; font-size: 11px;"></div>
Also facing court will be company owner-manager Adrian Keith Parsons, and his wife Karen Nicole Parsons, the company’s office manager, said the Fair Work Ombudsman.
A directions hearing is listed in the Federal Circuit Court in Brisbane on May 6.
The Fair Work Ombudsman alleges the company underpaid three real estate salespeople a total of $53,222 between October, 2009 and February, 2011.
It is alleged the majority of the underpayments are the result of the employees being significantly underpaid the sales commissions they were entitled to.
The employees were allegedly also underpaid their minimum weekly wages and annual leave entitlements.
The Fair Work Ombudsman alleges the employees were underpaid individual amounts of $32,951, $16,551 and $3,720.
Fair Work inspectors discovered the alleged breaches when they investigated complaints lodged by the employees.
The Parsons faces penalties of up to $6,600 per breach and the company faces penalties of up to $33,000 per breach.
The Fair Work Ombudsman is also seeking a Court Order for back-payment of the employees. 
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Gold Coast agency allegedly underpaid three staff $53,000: Fair Work Ombudsman

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The lowest advertised mortgage offering -fixed or variable - is a one-year fixed rate package home loan of 4.79% offered by non-bank lender Quick Direct, according to mortgage comparison websites.
The rate is 30 basis points below the lowest big four one-year fixed rate offering – NAB one-year fixed rate of 5.09% available under its package home loan offerings.
All Quick Direct package home loans require a 10% deposit.
Borrowers looking to refinance with a major bank brand can secure a one-year fixed rate home loan with UBank – NAB’s online brand – of 4.83%.
Quick Direct is a subsidiary of Sydney-based BMC Mortgage Corporation.
These are the lowest advertised variable and fixed mortgage rates based on listings on mortgage comparison websites <a target="_blank" href="https://www.ratecity.com.au/">ratecity.com.au</a>, <a target="_blank" href="https://mozo.com.au/">Mozo.com.au</a>,  <a target="_blank" href="https://www.infochoice.com.au/">infochoice.com.au</a> and <a href="https://www.homeloanfinder.com.au/">homeloanfinder.com.au</a> as of April 22:
Where the headline rate is the same, the lender with the lowest comparison rate gets preference.
Lowest variable rate offerings:
<table width="470" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" width="134">
Provider
</td>
<td valign="top" width="124">
Loan name
</td>
<td valign="top" width="97">
Rate
</td>
<td valign="top" width="116">
Comparison rate*
</td>
</tr>
<tr>
<td valign="top" width="134">
Loans.com.au
</td>
<td valign="top" width="124">
Blackboard Special
</td>
<td valign="top" width="97">
4.99%
</td>
<td valign="top" width="116">
5.01%
</td>
</tr>
<tr>
<td valign="top" width="134">
State Custodians
</td>
<td valign="top" width="124">
State Custodians Peak Performance Offset (Refinance Only)
</td>
<td valign="top" width="97">
4.99%
</td>
<td valign="top" width="116">
5.38%
</td>
</tr>
<tr>
<td valign="top" width="134">
Loans.com.au
</td>
<td valign="top" width="124">
Dream Loan Express Variable
</td>
<td valign="top" width="97">
5.09%
</td>
<td valign="top" width="116">
5.12%
</td>
</tr>
</tbody></table>
 Lowest one-year fixed-rate offerings
<table width="470" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" width="137">
Provider
</td>
<td valign="top" width="123">
Loan name
</td>
<td valign="top" width="95">
Rate
</td>
<td valign="top" width="114">
Comparison rate*
</td>
</tr>
<tr>
<td valign="top" width="137">
Quick Direct
</td>
<td valign="top" width="123">
One year fixed
</td>
<td valign="top" width="95">
4.79%
</td>
<td valign="top" width="114">
5.46%
</td>
</tr>
<tr>
<td valign="top" width="137">
UBank
</td>
<td valign="top" width="123">
UHomeLoan for refinance fixed rate
</td>
<td valign="top" width="95">
4.83%
</td>
<td valign="top" width="114">
5.34%
</td>
</tr>
<tr>
<td valign="top" width="137">
Loans.com.au
</td>
<td valign="top" width="123">
Dream loan express fixed
</td>
<td valign="top" width="95">
4.89%
</td>
<td valign="top" width="114">
5.28%
</td>
</tr>
</tbody></table>
 
Lowest three-year fixed-rate offerings
<table width="470" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" width="131">
Provider
</td>
<td valign="top" width="131">
Loan name
</td>
<td valign="top" width="96">
Rate
</td>
<td valign="top" width="111">
Comparison rate*
</td>
</tr>
<tr>
<td valign="top" width="131">
ME Bank
</td>
<td valign="top" width="131">
Member Package SMHL Standard Home Loan
</td>
<td valign="top" width="96">
4.99%
</td>
<td valign="top" width="111">
5.49%
</td>
</tr>
<tr>
<td valign="top" width="131">
Teachers Mutual Bank
</td>
<td valign="top" width="131">
Teachers Fixed Option Loan
</td>
<td valign="top" width="96">
4.99%
</td>
<td valign="top" width="111">
5.90%
</td>
</tr>
<tr>
<td valign="top" width="131">
ING Direct
</td>
<td valign="top" width="131">
Residential Fixed
</td>
<td valign="top" width="96">
5.09%
</td>
<td valign="top" width="111">
5.60%
</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.
For information on refinancing, watch our free webinar <a href="/news">The Do's and Don’ts of Refinancing Your Existing Home Loan ... and How to Avoid Unnecessary Hurdles</a>.
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From Quick Direct’s 4.79%: the lowest fixed and variable home loan offerings

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The large variance between economists' forecasts for the cash rate between now and the end of 2014 may create a conundrum for borrowers trying to decide between fixing their home loan or going with a variable rate product, given the current cheap fixed-rate offerings in the market place.
Over the remainder of 2013, the median forecast is for the cash rate to fall to 2.75%, according to the latest Bloomberg survey of bank and financial institution economists.
However, forecasts vary from HSBC’s Paul Bloxham’s expectation that the cash rate could rise by 25 basis points to 3.25% to Macquarie’s Richard Gibbs, who expects the cash rate could fall 100 basis points to 2% over the course of the year.
Just nine economists expect a cash rate at the median of 2.75%, including Westpac’s Bill Evans and economists from JP Morgan and Citi.
A greater number, 10 economists, expect no change over 2013 and the cash rate remaining at 3%, including the Commonwealth Bank’s Michael Blythe and AMP Capital’s Shane Oliver.
Seven economists foresee two more rate cuts this year (2.5%), including ANZ’s Warren Hogan.
Looking beyond 2013, and the lack of consensus is even greater with forecasts varying from a cash rate of 2.5% (ANZ Bank and FIIG Securities) to as high as 4.25% (Laminar Capital) by the end of 2014.
The median forecast is for a cash rate of 3.25% by the end of 2014, but with only three replies at the median.
The major banks have different expectations for the cash rate by the end of 2014, though tellingly none of them expect a cash rate higher than 3%.
The Commonwealth Bank currently expects no change in the cash rate between now and the end of 2014.
NAB also has a cash rate setting of 3% by the end of 2014.
Westpac expects a cash rate of 2.75% by the end of 2014.
ANZ expects a cash rate of 2.5% by the end of 2014.
March quarter inflation data out on Wednesday (April 24) is expected to be well within the RBA’s target band of between 2% and 3%, allowing scope for further rate cuts if needed.
According to same Bloomberg survey, the median forecast is for an inflation reading of 2.4% on both trimmed mean and weighted mean measures.
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Possibly one more rate cut in 2013 but lack of consensus the overriding theme: Bloomberg survey

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NAB has from today cut its five-year fixed-rate home loan by 29 basis points to 5.55% under its package home loan offering.
This is its lowest the bank’s five-year fixed-rate home loan has been in 20 years.
NAB offers package home loan borrowers a discounted variable rate of 5.53% if they borrow $500,000 or more.
Borrowers who take out a five-year fixed-rate will be punting on interest rates rising over the next five years.
NAB chief economist Alan Oster expects to further rate cuts this year, taking the cash rate to 2.5%.
Were the bank to pass on around 40 out of these expected 50 basis points, variable rate borrowers could see their interest rate fall to as low as 5.1%.
However, over 2014, NAB expects the cash rate to rise back to 3%, though some lenders expect it could rise as high as 4%.
<ul>
<li>The Commonwealth Bank offers a five-year fixed rate home loan at 5.69% under its package offering</li>
<li>Westpac is at 5.79% under its package home loan offering</li>
<li>ANZ is at 5.84% under its package home loan offering</li>
</ul>
Three-year fixed-rate home loans remain by far the most popular fixed-rate product among borrowers, with five-year fixed-rate home loans a marginal product.
According to mortgage comparison website homeloanfinder.com.au, three-year fixed-rate home loans currently account for two-thirds of all fixed-rate product choices with five-year fixed-rate home loans second most popular, <a href="https://www.propertyobserver.com.au/news/monday-feb-25-feature-the-fix-is-on-for-bank-mortgage-rates-should-you-take-the-deal/2013022159504" target="_blank">accounting for a fifth of fixed-rate products selected currently</a>.
Adrian Barclay, personal finance expert from HomeLoanFinder.com.au, wrote recently on Property Observer, that choosing between a three-year and five-year fixed rate home loan was an “important decision” especially considering that an average home changes hands every seven years.
“So, if you lock in a five-year fixed home loan three years into your home ownership, on average, you may sell it before. This can be an extremely costly way to handle home ownership,” Barclay says.
Costs can rise to thousands of dollars if you sell your house within the five-year fixed period while obtaining financing for renovations can also be harder than for borrowers who have a variable construction loan or line of credit home loan.
In 1993 borrowers who fixed for five-years with NAB would have done very well.
The cash rate fell to 4.75% in December 1993 but then rose to a high of 7.5% between December 1994 and July 1996.
It only fell back to 4.75% in December 1998.
NAB will be looking to cash in on the growing appetite among borrowers for fixed-rate home loans with Mortgage Choice reporting that more than a quarter of home loans (26%) were fixed in March, up from 20.6% in February and well above the 12-month average of 17.7%.
Demand for fixed-rate home loan is particularly high in Queensland where more than a third fixed their home loan in March, according to Mortgage Choice figures.
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NAB cuts five-year fixed-rate home loan to 20-year low of 5.55%

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Cromwell Property Group has raised $66.5 million from investors for its unlisted Cromwell Box Hill Trust.
The single asset unlisted property trust managed by Cromwell Funds Management Limited was launched in December 2012 to help fund construction of an eco-friendly, 20-storey office building in Box Hill in Melbourne.
The building is 97% leased to the federal government for 15 years from completion and will house the Australian Taxation Office.
The building is currently under construction and due for completion in March 2015.
The building is expected to be valued at $116.8 million on completion.
Cromwell CEO Paul Weightman said the fund raising was strongly supported by a range of investors and financial advisers, including many retail investors and financial advisers investing in Cromwell for the first time.
“We continue to see strong demand for high-yielding investments that are underpinned by quality assets,” he says.
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Cromwell raises $66 million to build ATO building in Box Hill

Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

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.

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]

Larry Schlesinger

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