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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 

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

Joel Robinson

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

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

WM Residences fills gap in Mordialloc townhouse market

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

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

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

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

NAB funds $1 billion Surfers Paradise apartment development, Palmera

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

Prateek Chatterjee

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