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RBA Governor Philip Lowe has given a clear message that interest rates have bottomed, implying the central bank won’t be cutting the overnight cash rate anytime soon, according to CBA chief economist Craig James.
At his first speech of the year during the A50 Australian Economic Forum, Governor Lowe said the “bank's central scenario is for some pick-up in economic growth and for inflation to move gradually higher”.  
The RBA is tipping economic growth of 3 per cent over 2017 and 2018. 
On inflation, he said that while it remains low, running at around 11⁄2 per cent in both headline and underlying terms, inflation is not expected to fall further. 
“Instead, our central forecast is for underlying inflation to gradually rise over the next couple of years,” he said. 
Clearly, that signals the bank is not in a hurry to cut rates, says James.
The Governor was also asked about the Aussie dollar, and based on the answer reported by the <a href="https://www.afr.com/news/economy/monetary-policy/donald-trump-might-even-be-good-news-says-rbas-philip-lowe-20170209-gu9iw6" target="_blank">Financial Review</a>, he also seems happy with current levels. 
"At the moment we think it'll deliver (economic growth of) 3 per cent, which is pretty good. While ever that's the case it's hard to say the exchange rate is fundamentally too high. At the moment I struggle to say the configuration that we have is leading to growth outcomes that are unsatisfactory." 
He also spoke of mixed conditions in the housing and job markets and the challenge in keeping high household debt under control. The Governor also said the RBA was closely monitoring the housing market and household balance sheets. 
He said, “the picture varies widely across the country. Prices for houses in Sydney and Melbourne are rising strongly, but apartment prices in some cities, including Perth and Brisbane have fallen. The population is growing strongly, but there is a large number of additional dwellings to come onto the overall market this year”. 
“Growth in rents is weak, but vacancy rates in most markets are not unusually high. And investor demand looks to have strengthened in the closing months of 2016. So it is a complex picture.”
While saying that high household debts are a risk, he was positive about the tightening of lending standards by banks over the past couple of years.
While upbeat on Australia and Australia’s prospects, the RBA Governor highlighted challenges including lifting productivity growth, greater engagement with Asia, lifting spending on infrastructure and keeping public finances in good shape.
On the unwinding of the mining boom, encouragingly the Governor said “we are already around 90 per cent of the way through the fall from the peak to expected trough in mining investment”. 
His near-term outlook was positive, according to James, though he did say the GDP fall in the September quarter was a surprise, but the economy was expected to have returned to growth in the December quarter.
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CBA economist Craig James says RBA has given clear message rates have bottomed

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Crowdfunding company DomaCom (ASX:DCL) has got regulatory approval to “deal in securities” and has also entered into an agreement with a US crowdfund that will expand the range of investment options for its clients.
The Australian Securities &amp; Investments Commission has given approval to DomaCom to vary its Australian Financial Services Licence that would allow it to launch mortgage bond sub-funds and allow for investment loans in the DomaCom property portfolio.
Chief executive Arthur Naoumidis said the “varied AFS Licence will allow us to offer peer-to-peer mortgage bond sub-funds and a fractional investment model for corporate bonds with work well under way to issue a new Product Disclosure Statement (PDS) to support these new products”.
They will offer a yield of 3.54% over the RBA cash rate with the security of a first registered mortgage and a loan-to value ratio(LVR) of less than 50 per cent.
Mortgage bonds will usually have a fixed term of five years and the current expected return of 5.04% with the security of a first registered mortgage and low LVR is expected to be attractive to the SMSF market, it said.
“What DomaCom can achieve with mortgage and corporate bond products is to offer investors the opportunity to lock in yields that are more attractive than bank deposits, use the fractional model to allow them to invest with a minimum amount, and to have potential liquidity of trading using our liquidity facility,” said Naoumidis.
DomaCom has funded 39 property acquisitions — mainly residential — which it claims to be the largest number of book-builds by any crowdfunder in Australia.
Meanwhile, the company announced this week it has signed an exclusive distribution agreement with Prodigy Network, a leading real estate crowdfunding platform in the United States that has raised more than $410 million of equity from the crowd for their portfolio of assets, valued at US$750 million. 
The agreement will pave the way for Australian investors and advisors to invest in prime commercial real estate assets located in Manhattan. 
Naoumidis said the agreement would open up more overseas property crowdfunding opportunities for Australian investors.  
“Whilst crowdfunding is still a relatively new phenomenon in Australia it is gaining significant ground overseas. There are over 125 such businesses globally with the 2015 transactions estimated to be around US$2.5 billion up from only US$20 million 4 years ago,” he said. 
“Enormous buying power exists in our large industry and retail superannuation funds and our growing A$600 billion self-managed superannuation fund (SMSF) market. There are vast sums of money sitting there some of which must be looking for an opportunity to invest in global real estate markets”.
Prodigy Network formally initiated its track record in January 2016, by providing 23% yearly after tax returns to the investors that participated in a 95 unit extended stay property called AKA United Nations, located at 234 E 46th Street. This was the first crowd funded project in the history of New York. 
Their success is explained by two main factors: 1) they both co-develop and co-invest in the deals they present to investors, 2) they have access to an extensive network of US and international mid-sized investors (capital raised from 26 US States and 29 different countries).
The investment platform and developer currently focuses primarily on investments in high-end collaborative workspaces and extended stay hotel developments in Manhattan.
 “We think partnering with DomaCom makes a lot of sense given their strong reputation and scalable distribution network in APAC” said Leonard Chinchay, VP of client relations at Prodigy Network. 
The deal was arranged by Tara Hill Capital in Sydney and Alpine Capital Advisors in New York.
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DomaCom gets ASIC approval for mortgage bonds, enters into deal with US firm

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Loans.com.au said it will keep up its focus on the investor market despite recent moves by the Commonwealth Bank and its subsidiary Bankwest clamping down on refinancing by investors.
Marie Mortimer, managing director, said borrowers who are turned away by BankWest or CBA "should come to us instead because we have much lower rates and we still want their business.”
She said <a href="https://loans.com.au/" target="_blank">loans.com.au</a> had maintained its focus on the market through its investor package which cut rates for investors who brought over both their home loan and investment loan.
“We want people with both a home loan and an investment property loan to come to us so we are offering a market-leading rate on their investment loan to encourage that,” she said. 
The online lender has packages starting from 3.59 percent, compared to most banks’ investor loan rate of 4 percent or more.
Mortimer said BankWest’s move may be the next phase of a retreat from investment lending by the banks.
Bankwest said earlier in the week it will no longer accept applications from new customers seeking to refinance their stand-alone investment lending from other financial institutions.
BankWest said the move would impact a very small number of applications and existing customers would not be affected. 
A BankWest spokesperson was cited by Mortgage Business as saying, “Bankwest continues to assess investment lending applications from current and prospective customers who meet relevant criteria within risk appetite,” they said.
“This aligns with Bankwest’s commitment to supporting a stable national housing market and sustainable economy in line with regulatory guidance.”
Commonwealth Bank, Australia’s largest bank, followed Bankwest in halting applications for new refinancing for investor loans, in a move that could see other lenders in the industry follow.
In a notice to mortgage brokers, CommBank said they are “committed to consistently delivering the best customer experience for home buyers, upholding the highest level of professional standards, and meeting our responsible lending and regulatory obligations,” according to a story published in news.com.au.
Home Loan Experts’ managing director Otto Dargan was cited as saying the Commonwealth Bank had to act to meet the  Australian Prudential and Regulation Authority’s 10 per cent cap on growth in investment lending.
“If they are too far below it (the 10 per cent cap) then they are losing market share,’’ he said.
“If they go over it then APRA will require them to set aside more capital which is very costly for the bank.”
He said CBA had “missed the mark” and had to take immediate action to reduce its investment lending.
Investment home loans represent 35 percent of CBA’s mortgage lending.
Mortimer of loans.com.au added that, “In recent months, a number of lenders have raised their rates or tightened their lending criteria in this space because of fears that they are over-exposed to investors.” 
“But we are excited about the prospects for the investment market and working as always to build long-term relationships with new property investors.”
During the month of December, lending to property investors across Australia grew at 0.8 percent, or at a 10.1 percent annualised rate, she said.
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Loans.com.au woos investors amid CBA-Bankwest moves to shun refinancing

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The Novotel Melbourne Glen Waverley, one of Melbourne’s best performing hotels, has exchanged hands for a cool $73.6 million.
The four-star hotel at <a href="https://www.realcommercial.com.au/property-hotel+leisure-vic-glen+waverley-502104650" target="_blank">285 Springvale Road, Glen Waverley, Vic 3150</a> went to the market in September 2016 through an expressions of interest campaign managed by Colliers International.
The hotel comprises 200 upscale rooms, a bar and restaurant, meeting space, gym, indoor pool and parking for nearly 100 cars. 
It is currently leased to leading hotel operator Accor Asia Pacific under a triple net lease expiring in July 2018.
Situated within the Glen Waverley Activity Centre and surrounded by the retail precincts of the Glen Shopping Centre, Century City Walk and Kingsway, the hotel benefits from the broad base of accommodation drivers within the City of Monash. 
Although the deal value was not disclosed, the Australian Financial Review had reported that the transaction was worth $73,666,666.66. The buyer is investment manager iProsperity, which handles Asian investment and the number is considered lucky by Asian investors.
The selling agents were Gus Moors, Guy Wells and Neil Scanlan of Colliers.
“The Novotel Melbourne Glen Waverley is widely regarded as one of Melbourne’s strongest performing metropolitan hotels due to its ability to capitalise on the broad-based activity within the City of Monash, which is the second largest employment region in Melbourne, after the CBD,” Moors said at the time the hotel was up for sale.
 
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Novotel Glen Waverley sells for $73.6 million

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An award-winning restaurant/function centre set on more than 6.88 ha in Olinda, Victoria has sold for $2.5 million through Ray White after a price reduction.
Olinda Tea House, Wedding, Conference Centre and Flower Farm at <a href="https://www.realcommercial.com.au/property-hotel+leisure-vic-olinda-502134650" target="_blank">86 Olinda Monbulk Road, Olinda, Vic 3788</a> is one of the most iconic venues across the Dandenong Ranges, according to the property’s description.
The property's features include a restaurant/function centre with clear-span dining area, commercial kitchen, guest/staff amenities and office facilities.
Designed by Smith + Tracey Architects this eco-friendly and award winning building is oriented to maximize north solar access and views down the valley. Solar panels run along the rooftop for energy efficiency.
Other features include a four-bedroom residence with its own private driveway and gardens. Around an hour's drive from the CBD in one of Victoria's premier tourist precincts.
The flower farm is leased. 
The property was listed in September 2015 for $3.6 million and spent 523 days on the market, according to RP Data.
<div title="Paul Waterhouse">The selling agents were Paul Waterhouse and Stefanie Taylor.</div>
 
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Olinda Tea House sells for $2.5 million

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More than 300,000 home loan customers have little or no equity in their homes, because they either failed to keep up with mortgage repayments or values in their area have fallen, new research by Roy Morgan has found.
Equity in this context is the difference between the value of your property and how much you owe on it.
In the 12 months to October 2016, it was revealed that 6.9% (302,000) of Australian mortgage holders had little or no real equity in their home, says a post on the website of Roy Morgan Research. The figure has improved just a little from around the same time in 2015, when around 345,000 home loan customers had no equity. 
This is based on the fact that the value of their home is only equal to or less than the amount they still owe, placing them at considerable risk if they have to sell or prices decline. 
Roy Morgan communications director Norman Morris said, “this represents a considerable risk to these households and their banks, particularly if home values fall or households are hit by unemployment”. 
“With some early signs that home loan rates are rising, the problem is likely to worsen as repayments increase and home values may decline, which has the potential to lower equity levels even further.”
<a href="https://www.propertyobserver.com.au/images/2017/02/02/Feb3Equity1.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/02/02/Feb3Equity1.png" alt="">
Morris added that there were several reasons that some borrowers were not gaining equity in their homes despite a generally strong property market. These include being in areas with declining values, apartments in Sydney and Melbourne losing value, borrowing more than the real value of the property, falling behind in mortgage payments, and increased borrowing for renovations that haven’t been reflected in increased property values.
The analysis was based on the Roy Morgan Single Source survey of more than 100,000 interviews over the last two years. 
Over the last 12 months, Roy Morgan said it interviewed more than 10,000 owner-occupied mortgage holders.
Western Australia had the largest proportion of such homeowners, with 10.4 percent of mortgage holders, or 54,000, having little or no equity in their home, the highest in Australia and 2.1% points higher than the same period in 2015. 
“The slowdown in WA’s mining sector is seeing the highest proportion of mortgage holders faced with little or no equity in their homes, and this position has deteriorated further over the last twelve months,” said Morris.
South Australia also recorded an increase in proportion over the last 12 months, up by 1.8 percent points to 8% (27,000), according to the analysis.
Among the states and two largest cities included in this analysis, Sydney had the lowest proportion of mortgage holders with little or no equity in their home: just 3.9 percent (33,000), down 1.1 percent points in the last year. 
“This improvement is due to home prices increasing faster than in most other areas of Australia and outpacing the growth in the average amount owing on mortgages,” Roy Morgan’s research said. 
<a href="https://www.propertyobserver.com.au/images/2017/02/02/Feb3Equity2.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/02/02/Feb3Equity2.png" alt="">
Tasmania was the second-best performer with 4.7 percent (5,000) of mortgage holders facing equity risk, followed by NSW with 5.1 percent (73,000), Victoria with 6.0 percent (65,000), Melbourne with 6.1 percent (50,000) and Queensland with 7.2 percent (63,000).
The research also observed that mortgage gearing or risk was lowest in Sydney (28.9 percent) and Melbourne (32.4 percent), mainly because of the rapid rise in property values.
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300,000 mortgage holders have no equity in their homes: Roy Morgan

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Pemulwuy, a western Sydney suburb named after an Aboriginal warrior, is a high second on the list of suburbs predicted to grow most in the next eight years by a research report.
The <a href="https://www.residex.com.au/top-100-predictions-report?utm_source=blog.residex.com.au&amp;utm_medium=article-link&amp;utm_campaign=kd-160117">Residex Predictions Report</a> ranks the top 109 suburbs where predicted capital growth is forecast to be between an average of 4.0 percent and 11.1 percent per annum over the next five years, and between an average of 5.1 percent and 8.4 percent per annum over the next eight years.
The report is a valuable starting point for property investors researching where to buy next.
House values in Pemulwuy (postcode 2145) are expected to provide an average of 8.34 percent growth per year over the next eight years, according to the report. It ranks behind Gordon in the ACT where house values are predicted to grow by an average of 8.4% per year till 2025.
Tim Lawless, CoreLogic’s Asia Pacific research director said the suburbs listed in the report are the ones that we would expect to perform well in future years based purely upon the statistical patterns that the Residex algorithm has identified in their historical growth rates.
“Residex’s predictive model doesn’t allow for new developments, changing demographic patterns, improved infrastructure or any other such factors and these can have a substantial impact on the capital gain prospects across a suburb or town,” he said.
The December report is the first <a href="https://www.residex.com.au/top-100-predictions-report?utm_source=blog.residex.com.au&amp;utm_medium=article-link&amp;utm_campaign=kd-160117" target="_blank">Predictions Report</a> compiled by Residex since the business was purchased by CoreLogic in 2016, and uses the combined data resources of the two businesses.
The data is drawn from median values using the CoreLogic automated valuation model, rather than median sales prices. This is an important distinction as it takes into account the value of all properties within the suburb, not just those that have transacted across the period. This makes it a more reliable and stable indicator of values across the region.
The median value of houses in Pemulwuy was $914,000 as at October 2016, with an annual average growth of 8.22 percent, according to CoreLogic data.
Around the median price, some of the houses recently sold or on the market were:
A four-bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-pemulwuy-124063734" target="_blank">7 Cummings Avenue, Pemulwuy,</a> (below) NSW 2145, which is on the market with a price guide of $899,000.
<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/2017/01/17/ResidexPemulbuy1.jpg" alt="">
Another four-bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-pemulwuy-123775782" target="_blank">23 Bulbi Street, Pemulwuy, NSW 2145</a> has been listed for $980,000.
 <img src="https://www.urban.com.au/images/2017/01/17/ResidexPemulbuy2.png" alt="">
Besides the ones on the market, some houses that recently changed hands include a four-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-pemulwuy-123857974" target="_blank">36 Bulbi St, Pemulwuy, NSW 2145</a> that sold for $930,000 in November 2016. The selling agency was Riverbank Real Estate. 
<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/2017/01/17/ResidexPemulbuy3.jpg" alt="">
Another sale was that of a four-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-pemulwuy-123405206" target="_blank">19 Stanbury Ave, </a><a href="https://www.realestate.com.au/sold/property-house-nsw-pemulwuy-123405206" target="_blank">Pemulwuy, NSW 2145</a> for $915,000 in September 2016. This too was sold through Riverbank. 
<img src="https://www.urban.com.au/images/2017/01/17/ResidexPemulbuy4.png" alt="">
 
In the national report, 107 suburbs had top predictions for houses while there were two suburbs for units. Across the country, 60 of the top 109 suburbs were in regional Australia and 49 were in city areas.
 
Broken down by state, 16 were in the ACT, 39 suburbs were within NSW, 15 were in Queensland, there was 1 from SA, 13 from Tasmania, 6 from Victoria and 19 from WA. Separate reports are also available for Victoria, NSW and Queensland.
 
Lawless said the report was not definitive and other suburbs could also perform strongly. Investors should conduct their own additional research before deciding to commit to a purchase.
 
“As with any forward looking analytic, the reports are predictions, not a guarantee of future growth, and taking into consideration your own personal circumstances is vital,” Mr Lawless said.
 
Get your full copy of the <a href="https://www.residex.com.au/top-100-predictions-report?utm_source=blog.residex.com.au&amp;utm_medium=article-link&amp;utm_campaign=kd-160117" target="_blank">Residex Predictions Report here</a> for $195 per state or $250 for the national report.
 
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Sydney's Pemulwuy follows Gordon as suburb with best growth prospects: Residex report

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The ad promises you earnings of up to $80,000 for the December-January period just by using Airbnb. 
There’s also a testimonial from Arnold Schwarzenegger and mention of Facebook founder Mark Zuckerberg’s sister Randy sharing with Jamie McIntyre tips about “"luxury living without luxury prices" on the website of <a href="https://www.21stcenturyservices.com.au/airbnb-consultancy-business/" target="_blank">21st Century Education</a>. 
All these tips from McIntyre, only for $67 events in Melbourne, Brisbane and Sydney.
Once there, according to a recent report in the Weekend Australian, McIntyre would reveal his secret: “How to make $5000-$10,000 per month in semi-passive income from anywhere in the world.”
McIntyre’s current play is with Airbnb. 
“Airbnb is paying out billions to clients and you can be getting this money for your clients and taking,” the email quoted Mc­Intyre as saying, according to the report in the Weekend Australian.
“Imagine a business that require­s no capital to get started. No ongoing overhead. Thanks to technology this is now possible.”
McIntyre was recently banned from corporate life for a decade by the Australian Securities &amp; Investments Commission following a lengthy Federal Court fight. 
The property spruiker was grilled by Senators Sam Dastyari and Nick Xenophon at a Senate hearing in 2015 over a stalled Shepparton land-banking scheme where many investors were duped of their money on the false promises of strong returns. 
McIntyre listed more than a dozen properties for short-term stays from Queensland’s tropical north to the mansionettes of Melbourne’s Toorak. 
Many of these, the report said, had first been leased by McIntyre and advertised without the knowledge or consent of the owners. 
Airbnb’s global head of policy Chris Lehane has said in a previous report it expects limits to be introduced on the number of listings a person is allowed to have.
McIntyre’s use of the website to build this property empire also raises questions that he is back in business despite the ASIC ban. 21st Century Education denies it.
The Australian report said Blair Harding, a business coach and now the chief executive of 21st Century, dismissed claims McIntyre was back in business.
“Mr McIntyre is no longer involved­ in the management of Australian companies,” Harding is said to have told The Australian in an email. 
“Like many people he uses an Airbnb management company to manage his Airbnb properties. He is also an educator who has educated his clients on the potential to profit from Airbnb and new emerging trends."
McIntyre’s so-called “education programs” first came to the corporate regulator’s attention in 2002, the report said. 
The email advertising the seminars with McIntyre offers a number of ways to make a fortune. You can pay for Mc­Intyre’s advice — one client who did this apparently “made over $4000 in his first month”. Or you can allow 21st Century to manage the service for you — where “we can generate you income almost instantly from accepting your home onto our system”.
An ASIC spokeswoman is cited by the report as saying the regulator is “aware of Mr McIntyre’s latest venture”, and will continue to monitor his conduct while another investigation into his previous ventures remains under way.
“The (Airbnb) service involved doesn’t involve financial advice in relation to a financ­ial product or involve the operation of a financial services business,” the spokeswoman says.
The report lists properties in Gold Coast and Surfers Paradise being advertised through Airbnb for rents such as $595 a night on weekends though they were advertised for weekly rent for much less earlier. The letting agents say they were unaware of McIntyre leasing those places.  
An Airbnb spokeswoman was cited in the report as not being able to explain how the website ensures landlords are made aware their property is being leased through the online platform, although she says “frankly, there’s no place for this sort of behaviou­r on Airbnb”.
The Gold Coast Bulletin has reported its is the neighbours who are annoyed at noisy guests. 
The mansion, owned by McIntyre family company Isle of Capri 2, was purchased for $4.75 million in 2009.
It is advertised at $791 a night if you want the master bedroom unlocked.
The rate for wedding events is not advertised but believed to be upwards of $1200 a night. The listing says the home can sleep up to 18 people in its five bedrooms and cinema room.
His 27m, four-bedroom yacht Livin II is also advertised on the site — at a minimum $1490 a night.
“The Isle of Capri is an exclusive area — we pay a lot of rates and taxes to live here and we don’t expect this,” one neighbour said.
“The council should be acting to close it down.”
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Property spruiker Jamie McIntyre's Airbnb play under scrutiny

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Hunters Hill in Sydney's North Shore led the country in the biggest change in median values for units in 2016, according to the latest CoreLogic report.
The top 10 list for 12-month change in median values in CoreLogic's Best of the Best 2016 report was dominated by Sydney suburbs. The report's data was for the 12 months up to September 2016. 
Hunters Hill topped the list with a median value change of 45.8 percent over 12 months and a median value of $1.16 million. The suburb saw 52 units sold during the period.
Fairlight in Manly and Point Piper in Woollahra, also in Sydney, were in second and third place respectively. However, the 12-month change in Fairlight was 31.5 percent, making it a distant second to Hunters Hill.
<a href="https://www.propertyobserver.com.au/images/2017/01/11/Screen%20Shot%202017-01-11%20at%209.40.46%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/11/Screen%20Shot%202017-01-11%20at%209.40.46%20AM.png" alt="">
Property Observer looked up some sales around the median price.
A two-bedroom unit at 14/64 Gladesville Road Hunters Hill, NSW, 2110 sold in September 2016 for $1.25 million, according to RP Data. It was on the market for 59 days. The selling agency was First National. It had previously changed hands late in 2013 for $840,000, meaning a 48 percent change in median value in nearly three years.
 <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/2017/01/10/CoreLogic-12mth-HuntersHill1.jpg" alt="">
A two-bedroom unit at 213/64 Gladesville Road Hunters Hill, NSW, 2110 sold in July 2016 for $1,040,000. The unit changed hands just a year earlier in 2015 for $805,000, which implies a percentage change in value of 29 percent, which is still below the average 12-month change.
<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/2017/01/10/HuntersHill2.jpg" alt="">
 
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Sydney's Hunters Hill tops 12-month change in median values: CoreLogic

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When it comes to affordability and lowest rents, there’s no beating Tassie.
Queenstown and Rosebery in Tasmania’s West Coast top the list of median rents in 2016 for both houses and units, according to property analysis firm CoreLogic.
While Queenstown had the lowest median rent of $140 per week for houses, Rosebery scored for units, again with a median rent of $140 pw, figures from CoreLogic’s Best of the Best 2016 show.
In fact, the West Coast appears in four places in the top 10 list of lowest median rents for houses.
Even though the median rents are the same for both Queenstown and Rosebery, the median price values are different. While in Queenstown, it is $90,008 for houses, in Rosebery the median is $76,846 for units, implying a higher rental yield in Rosebery.
Property Observer found some houses and units for rent in the two towns around the median prices.
1. A three-bedroom house at <a href="https://www.realestate.com.au/property-house-tas-queenstown-419315994" target="_blank">25 Austin Street, Queenstown</a>, Tas 7467 (above) is available for $140 pw, the same as the median price. 
2. Another three-bedroom house at <a href="https://www.realestate.com.au/property-house-tas-queenstown-419853814" target="_blank">6 Hurst St Queenstown</a> Tas 7467 (below) is out for renting at $135 pw.
<img src="https://www.urban.com.au/images/2017/01/13/Screen%20Shot%202017-01-13%20at%209.33.42%20AM.png" alt="">
 
3. In Rosebery, a two-bedroom unit at <a href="https://www.realestate.com.au/property-unit-tas-rosebery-419504506" target="_blank">2/4 Huon Court Rosebery</a> Tas 7470 (below) is up for rent for $120 pw, well below the median price. 
<img src="https://www.urban.com.au/images/2017/01/13/Screen%20Shot%202017-01-13%20at%209.34.41%20AM.png" alt="">
Property Observer found only one unit with the applied filters around the median price.
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Tassie led in lowest median rents in 2016: CoreLogic data 

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

Joel Robinson

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

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Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

Prateek Chatterjee

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