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SJB architect’s stunning Stellar Ryde is strategically positioned at the gateway to one of Sydney’s fastest growing suburbs. The area is undergoing significant change and benefiting from major infrastructure investment in the region.
The project is situated in a thriving green suburban metropolis. Parks, shopping centres, restaurants and schools are all easily accessible, creating the perfect lifestyle destination.
Jennifer Loh, head of sales and marketing for CWG Development, comments: “Stellar Ryde was a strategic purchase in the expanding North West corridor. Ryde offers a clean and green lifestyle with plenty of open spaces, yet is still accessible to major transport links and employment hubs. It offers the epitome of luxurious living in a thriving suburb. 
“There is a broad range of apartment types to suit every purchaser. Most of the sales have been to local buyers who understand the superior proposition Stellar Ryde offers them. The unique architectural façade and stunning interiors will appeal to any discerning purchaser.”
Prices start at $599,000 to $675,000 for one bed (52-59 square metres internal), two beds are priced from $810,000 to $940,000 (75-80 square metres internal) and three beds are priced from $999,000 to $1.16 million (97 square metres internal). All apartments include parking and most enjoy a Northerly aspect. 
Stellar Ryde is located within 1.5 kilometres to West Ryde and Meadowbank train stations and several bus stops are located along Victoria Road which connect to the city. Top Ryde City Shopping Centre, Ryde Aquatic Leisure Centre, Ryde Park and Meadowbank Memorial Park also easily accessible.
Rhodes is a 3.7 kilometre commute, Eastwood is 4.4 kilometres, Concord Hospital is 4.7 kilometres, Macquarie Park is 5.8 kilometres and the Sydney CBD is 13 kilometres.
There are also several excellent schools in the near vicinity including Ryde Public School, St Charles Catholic Primary School, Northcross Christian School and Gladesville Public School.
For further information visit <a href="https://www.stellarryde.com.au/" target="_blank">www.stellarryde.com.au</a> or the display suite at 819b Victoria Road, Ryde which is open daily from 11am to 4pm. 
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Stellar Ryde – the gateway to Ryde

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<img src="/images/2016/12/07/CWG-logo-270W-trans.png" alt="" width="437" height="118">
SPONSORED POST 
Acclaimed architects SJB has revealed its latest signature design  – Stellar Ryde which is an $80 million development located in the heart of Ryde.
Ninety five luxurious apartments are spread across two towers reaching nine and five storeys high with prices starting from $599,000 for a one bed.
Gabrielle Suhr, associate SJB Architects, comments: “Bright metallic ribbon like balustrades wrap and shimmer around the solid exterior which brings an element of movement to the façade. The contoured and geometric architecture establishes a unique street presence. 
“Stellar Ryde’s striking grand forms feature a unique blend of colours, with radiant orange on lower levels ascending to yellow and white as the building meets the sky. Bronze louvres and charcoal renders support the autumn colour palette to unveil a distinctive and smart design.
“The interiors reflect the playfulness of the façade with the majority of the apartments enjoying light spanning the depth of the spaces. Shelving details in bright colours bring a touch of the signature yellow into the apartments, while a colour palette of elegant navy and white joinery options bring a crispness to the interiors that are framed by the bronze coloured window details.”
Stellar Ryde comprises 38 one beds, 53 two beds and four three beds. Nine floor plate options are on offer and 24 apartment types. Landscaped gardens and outdoor living areas will also support Stellar Ryde in addition to 208 square metres of retail space on the ground level. Building A also features a roof top terrace with a BBQ and picnic area for recreational activities. Also, 121 car spaces are included in the project (95 residential, 19 visitors, seven retail).
The spacious apartments boast floor to ceiling windows, open-plan layouts, chic modern kitchens with island benches and glazed splashbacks and splendid views of the district and city skyline from most apartments. 
For further information visit <a href="https://www.stellarryde.com.au/" target="_blank">www.stellarryde.com.au</a> or the display suite at 819b Victoria Road, Ryde which is open daily from 11am to 4pm.
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SJB presents its stunning Stellar Ryde design

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<img src="/images/2016/12/07/CWG-logo-270W-trans.png" alt="" width="452" height="122">
SPONSORED POST
CWG Development (formerly Chiwayland) has unveiled its latest boutique project – Stellar Ryde, a stunning $80 million structure designed by award winning architects SJB. 
Located in the heart of Ryde’s central business district on Victoria Road minutes to Top Ryde Shopping Centre, Stella Ryde comprises of 95 stunning apartments spread across two towers reaching nine and five storeys high that wrap around a central landscaped courtyard.
Shayne Harris, director residential at Savills Australia and project director for Stellar Ryde, comments: “Stellar Ryde will set a new standard for luxury and sophistication in Ryde. It represents contemporary living at its best and offers a vibrant and well-connected lifestyle that is within a short drive to major employment and transport hubs including Epping, Eastwood, Macquarie Park, Rhodes and Sydney’s CBD.
“The striking architectural design by SJB will ensure Stella Ryde will become an iconic structure on the suburb’s skyline. Its superbly designed spacious interiors complement the exterior. The expansive views of the Parramatta River across to the city are breathtaking and will command buyer attention. Purchasers who are attracted to quality and style will be drawn to this project.”
Prices start at $599,000 to $675,000 for one bed (52 - 59 square metres internal), two beds are priced from $810,000 to $940,000 (75 - 80 square metres internal) and three beds are priced from $999,000 to $1.16 million (97 square metres internal). All apartments include parking and most enjoy a Northerly aspect. 
For further information visit <a href="https://www.stellarryde.com.au/" target="_blank">www.stellarryde.com.au</a> or the display suite at 819b Victoria Road, Ryde which is open daily from 11am to 4pm.
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Stellar Ryde launches with its striking bold architecture

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Reserve Bank Governor Philip Lowe December 2016 RBA statement.
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At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent.
The global economy is continuing to grow, at a lower than average pace. Labour market conditions in the advanced economies have improved over the past year. Economic conditions in China have steadied, supported by growth in infrastructure and property construction, although medium-term risks to growth remain. Inflation remains below most central banks’ targets, although headline inflation rates have increased recently. Globally, the outlook for inflation is more balanced than it has been for some time.
Commodity prices have risen over the course of this year, reflecting both stronger demand and cut-backs in supply in some countries. The higher commodity prices have supported a rise in Australia’s terms of trade, although they remain much lower than they have been in recent years. The higher prices are providing a boost to national income.
Financial markets are functioning effectively. Government bond yields have risen further with the adjustment having been orderly. Funding costs for some borrowers have also risen, but remain low. Globally, monetary policy remains remarkably accommodative.
In Australia, the economy is continuing its transition following the mining investment boom. Some slowing in the year-ended growth rate is likely, before it picks up again. Further increases in exports of resources are expected as completed projects come on line. The outlook for business investment remains subdued, although measures of business sentiment remain above average.
Labour market indicators continue to be somewhat mixed. The unemployment rate has declined this year, although some measures of labour underutilisation are little changed. There continues to be considerable variation in employment outcomes across the country. Part-time employment has been growing strongly, but employment growth overall has slowed. The forward-looking indicators point to continued expansion in employment in the near term.
Inflation remains quite low. The continuing subdued growth in labour costs means that inflation is expected to remain low for some time, before returning to more normal levels.
Low interest rates have been supporting domestic demand and the lower exchange rate since 2013 has been helping the traded sector. Financial institutions are in a position to lend for worthwhile purposes. These factors are assisting the economy to make the necessary adjustments, though an appreciating exchange rate could complicate this.
Conditions in the housing market have strengthened overall, although they vary considerably around the country. In some markets, prices are rising briskly, while in others they are declining. Housing credit has picked up a little, although turnover of established dwellings is lower than it was a year ago. Supervisory measures have strengthened lending standards and some lenders are taking a more cautious attitude to lending in certain segments. Considerable supply of apartments is scheduled to come on stream over the next couple of years, particularly in the eastern capital cities. Growth in rents is the slowest for some decades.
Taking account of the available information, and having eased monetary policy earlier in the year, the Board judged that holding the stance of policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time.
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Cautious approach by lenders noted by Governor Philip Lowe December 2016 RBA statement

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SPONSORED POST
If we had a completely blank slate to work with, how would we design our buildings and cities? How different would they be from the environments we have created now?
That was the question posed by JLL and TEDxSydney earlier this year for their Urban Canvas research project, which surveyed more than 200 professionals from 19 industries and conducted full-day workshops to explore issues around workplaces, buildings and cities.
Participants were asked to imagine creating places for people to work, live and play within the construct of a completely fresh slate - the planet Mars in 2050, made habitable for humans. 
The concept of Mars was used to give people a blank canvas and understand what they would create if they didn’t have the limitations of the existing built environment.
The resultant whitepaper – ‘Is humanity the future architect: how human connections will ultimately shape the future of real estate’ - projects a vision of the future where buildings do more than function as places of work – they promote connections between people and nature, whilst enhancing our health and wellbeing.
“The results unanimously focused on human connections and a desire to be closer to nature,” says Richard Fennell, Australian Head of Property &amp; Asset Management for JLL.
“It seems that amongst our condensed and densely populated skylines, the people living and working within them are craving more open spaces, more air, and more natural materials and environments.” 
Participants sought a lifestyle where home and work were more interconnected in a physical sense - promoting concepts such as community workplaces, co-working and flexible work locations - whilst craving to be less connected mentally and emotionally.
This is a response to the recognition that the modern workforce does not ‘switch off’ - workers no longer leave work behind when heading home, and this is acknowledged as negatively impacting mental health.
“Our basic needs and wants remain consistent with what they were 100 years ago,” Fennell says. “We saw five key themes emerge when asking the TEDxSydney Community to design their future, four of these themes focused on human needs.”
Those five key themes are:
<ol>
<li>Human connections</li>
<li>Health and wellness</li>
<li>Nature and human sustainability</li>
<li>Social consciousness</li>
<li>Robotics and artificial intelligence</li>
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“Throughout our research, certain mega-trends also emerged that might shape how we interact with our urban environment, including robotics, quantum computing, driverless cars and co-working,” Fennell says. “But it will be a desire for authentic, deeper human interactions, health and wellbeing, and a closeness to nature that will continue to dominate the built environment.”
JLL’s Australian Head of Corporate Account Management, Rajiv Nagrath, says the research found that, despite technological advancements and the potential impacts of robotics and artificial intelligence, there was a desire for a future dependent on people, not machines.
For more information, <a href="https://access.jll.com/tedxsydney/" target="_blank">click here</a>.
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How human connections will ultimately shape the future of real estate 

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SPONSORED POST
For anyone considering investing in commercial real estate, one of the first questions you will want to ask is: what return on investment will I get from this property or, in other words, what is its yield?
Yield is an important way of measuring the future income on an investment. It is particularly important in commercial real estate as capital growth rates are not usually as high as the residential market. So the return you get now and in the future is a key factor in working out whether to invest.
So, how do you work out yield?
Yield is calculated as a percentage, based on the property’s cost or market value, annual income and running costs. It does not take into account how much the property increases in value over time (ie the capital growth).
When calculating yield, it’s important to know if you are calculating ‘gross yield’ or ‘ net yield’. Gross yield is everything before expenses, whereas net yield takes into account running expenses such as management fees, maintenance costs, stamp duty and vacancy costs.
Yield definition
Yield calculations are worked out by dividing the annual rental income on a property by how much it cost to buy. For example:
Gross yield = annual rental income (weekly rental x 52) / property value x 100.
So if you buy a retail property for $750,000 and rent it out for $1,500 a week ($78,000 annually) the annual return on your investment, or your yield, will be 10.4 percent. This is an example of gross yield, where the running expenses of owning a retail business have not been taken into account.
Commercial properties typically return a much higher yield than residential, generating yields upwards of 7 percent compared to yields of 4-5 percent in residential.
What drives yield?
Yield, business confidence and occupancy rates are the top three drivers of the commercial real estate market.
All three are affected by consumer confidence, politics and the economy. Commercial property yields are more susceptible to market conditions than residential properties as people will always need somewhere to live, whereas business can and do go out of business. This risk is reflected in the higher yields that commercial property attract.
The demand for property is one of the key drivers of yield. When demand is high, the cost of buying an investment property increases. The more you pay, the less yield you get (unless rental income increases in proportion to the purchase price). When yields are decreasing this is often referred to as ‘hardening yields’.
The opposite is also true. When demand for property is down, prices fall and yields can increase. When the rent-to-value ratio increases it is referred to as ‘softening yields’.
It is important to note that yields are a measurement of expected return on your investment and not a guarantee. Potential investors need to take into account all the other factors, such as likelihood of finding and retaining a good, long-term tenant, maintenance and infrastructure costs, suitability and location of a property and all the other factors that can impact on your ability to achieve your expected yield.
For more information, <a href="https://bs.serving-sys.com/BurstingPipe/adServer.bs?cn=tf&amp;c=20&amp;mc=click&amp;pli=18755997&amp;PluID=0&amp;ord=%5Btimestamp%5D" target="_blank">click here</a>.
ABOUT REALCOMMERCIAL.COM.AU: realcommercial.com.au is the leading website in Australia for commercial property, attracting an average of 1.7 million visitors a month (Source: Nielsen Online Market Intelligence, Total Traffic, average calculation May-July 2015, includes app traffic from Omniture Site Catalyst as Nielsen doesn’t report on app). It is owned and operated by realestate.com.au Pty Ltd, a subsidiary of ASX-listed REA Group Limited ACN 068 349 066 (ASX:REA).
 
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Yield: what is it & what drives it in commercial real estate?

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SPONSORED POST 
Visitors add an average of 3 percent to a city’s population every night, posing significant opportunities for hotel, leisure and retail operators, according to the latest <a href="https://pdf.euro.savills.co.uk/global-research/12-cities-h2-2016---visitors.pdf" target="_blank">Savills 12 Cities Report H2/2016</a>. 
The report found that around 901 million domestic and overseas visitors were attracted to the twelve cities examined during 2015. They spent a total of 1.05 billion nights in hotels or other guest accommodation. In some cases, such as New York and London, the visitor populations were equivalent of another city.
<a href="/images/2016/11/14/The%20size%20of%20the%20visitor%20city.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/14/The%20size%20of%20the%20visitor%20city.jpg" alt="">
 
Visitor breakdown – who is visiting and why? According to the report, the split between domestic and overseas visitors varies widely between cities. In most, especially those with vast hinterlands such as USA, China, Australia and Russia, more visitors come from the home country. With a relatively high number of domestic visitors (9.20 million), Sydney is also experiencing a growth in international visitors (3.75 million) underpinned by strong holiday and education segments. London, with a relatively small UK hinterland, has the highest number of overseas overnight visitors (20 million) but fewer domestic visitors (13 million). View the full domestic/international visitor breakdown in the <a href="https://pdf.euro.savills.co.uk/global-research/12-cities-h2-2016---visitors.pdf" target="_blank">Savills 12 Cities Report</a>. 
It’s easy to assume that the attraction of global cities is all the history, buildings, culture, entertainment, lifestyle and leisure that they offer, and that it is tourists who make up most of their visitors. On average, 77 percent of international visitors to the cities in the Savills 12 Cities Report are there for leisure, tourism and reasons other than business, such as meeting up with friends and relatives.
Shanghai has a large percentage of international business visitors (55 percent) as it is not a prominent international leisure destination, especially compared to cities such as Rio de Janeiro and Sydney, which have a large proportion of tourists and other types of visitors seeking sunshine and lifestyle experiences. 
<a href="/images/2016/11/14/thumbnail_International%20Overnight%20Visitors.jpg" target="_blank">Click to enlarge</a>
 <img src="/images/2016/11/14/thumbnail_International%20Overnight%20Visitors.jpg" alt=""> 
Impact on the hotel, leisure and retail industries
Across Savills 12 cities, international overnight visitors spend a total of US$132.6 billion a year when they visit, 30 percent of it on accommodation. In this way, city visitors are participating in the real estate markets of cities every time they pay their hotel bill. This is also true of retail, food and beverage spend, which helps create demand for space and to pay the rent on these premises. They also support industries outside of the hospitality sector, such as airports.
George Nicholas, Global Head of Hotels at Savills, comments: “As global tourism continues to rise, demand for bed space in many city markets is now outstripping supply. For example, Tokyo has had an influx of tourists from China following the relaxation of Visa requirements and the city now has a chronic shortage of rooms, while in London, the fall in the value of the Sterling is attracting visitors who previously thought the UK’s capital too expensive. The net result of this is that we’re seeing a shift in where investor appetite for hotel assets and platforms stems from, with Asian capital in particular coming to the fore in Europe over the past twelve months.” Yolande Barnes, Director of Savills World Research, adds: “It’s not just the market for hotels and hotel land upon which international visitors have an impact. Across nine top global cities including New York, London and Paris, annual food and beverage spend by international visitors totals at least US$21 billion a year and shopping accounts for US$38 billion. Restaurants, bars, cafes and shops are significantly impacted by these revenue inflows, so ensuring that there is enough space to accommodate visitors is therefore not just imperative for the hotels sector, but also for the wider city economy.”
To learn more about the latest trends in world real estate, visitor cities and economic outlook, view <a href="https://pdf.euro.savills.co.uk/global-research/12-cities-h2-2016---visitors.pdf" target="_blank">Savills 12 Cities Report H2/2016</a>.
Savills is a leading global real estate service provider offering the full spectrum of services from strategic advice to managing assets and projects and transacting deals. To learn more about Savills, visit <a href="https://www.savills.com.au" target="_blank">savills.com.au</a>.
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Swelling visitor numbers pose opportunities for global cities

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GUEST OBSERVATION
Australia's economic success over recent decades reflects both the underlying fundamentals and our ability to ride out various shocks.
The fundamentals that have helped us are well known. They include our openness to trade and investment, our generally favourable demographics, our diverse and talented people, our abundance of natural resources, our ability to undertake structural reform to boost productivity and our links with the fast-growing Asian region. But also important to our prosperity is the fact that over the past quarter of a century, our economy has not been seriously derailed by economic shocks. After all, nothing undermines prosperity like a severe recession in which large numbers of people lose their jobs and see their wealth decline.
It is not as if there has been a shortage of shocks that could have derailed us. There was the Asian crisis, the bust of the US tech boom and the global financial crisis. We also experienced a once in a century surge in our terms of trade and the subsequent decline.
The point is that we have been able to ride out these and other shocks without too much difficulty. In part this is because of the flexibility of our exchange rate, monetary policy and the labour market. We have also avoided the build-up of large financial imbalances. But this resilience is also because when the shocks hit we have had buffers to absorb them. Because of these buffers, we had options that not all other countries have had.
Today, many business people tell us they feel the heavy weight of uncertainty. The long list of factors we hear includes: uncertainty about the transition in the Chinese economy; the future direction of technology; the political environment, both abroad and at home; the impact of high debt levels on future consumer demand; and uncertainty about where the extraordinary global monetary expansion will ultimately end. Understandably, when people feel uncertain, they sometimes feel that it's best to delay making decisions, especially if those decisions are difficult to reverse. We want to seek out more information before proceeding. We want to wait.
Australians have managed pretty well over the past quarter of a century, but we feel a bit uncertain about the future.
In my view, despite the uncertainties, we should still be looking forward to the future with some optimism. Here in Australia, with our long track record of good economic growth and our demonstrated ability to adjust to a changing world, we have a set of advantages that not all countries have. Our collective challenge is to capitalise on those advantages. Ensuring a strong focus on lifting productivity is surely the key here.
As we work out how to do this, though, we obviously can't ignore the uncertainties. But neither can we let those uncertainties force us to retreat, to withdraw from the world. If we do this, then we, and our children, will be poorer as a result. Rather, we need to deal with, and prepare for, those uncertainties. Part of our preparation is to ensure that we have adequate buffers in place to deal with future shocks wherever they come from. These buffers provide us with options when challenges arise.
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<h2 id="financial-system">Financial System</h2>
One area where it is particularly important to have adequate buffers is in the financial sector.
The financial sector can either act as a cushion for adverse shocks or it can act as an amplifier. Which one it turns out to be depends upon how well the system is prepared to deal with bad events. If the system has skimped on liquidity and is carrying too little capital, then it is likely to amplify shocks. Conversely, if the financial system has adequate buffers, it is better able to support the economy in difficult times.
The aftermath of the global financial crisis is a good example of what can happen. The chart below (Graph 1) shows how bank lending has grown – or in the case of Europe, contracted – since the financial crisis in 2008. Many banks in Europe and the United States simply did not have large enough buffers for the events that unfolded. Even today, capital levels remain an issue for some European banks. Insufficient capital means that some banks are constrained in their ability to provide finance and helps explain why banks have not taken advantage of the European Central Bank's offer to lend them money at an interest rate below zero. The European economy has suffered as a result. In the United States, the picture is more positive, partly because there were more successful efforts early on to rebuild the buffers in the system.
Graph 1
<img src="https://www.rba.gov.au/speeches/2016/images/sp-gov-2016-11-15-graph1.gif" alt="Graph 1: Total Banking Lending">  
In Australia, it has been a different story. The banking system did have the capacity to support the economy during the global crisis, although it is important to point out that it did this with the assistance of the Australian government through various guarantee schemes following the freezing of global capital markets.
Around the world, the experience of recent years has rightly caused banks and their regulators to think again about how large the buffers should be. The answer has been that they should be larger than they were before. This has been true in Australia too, despite the starting point here being better than in many other countries.
Since the beginning of 2015, the major banks have raised around $28 billion from new equity and retained earnings, significantly increasing their capital relative to their assets (Graph 2). Banks are also holding a larger share of their assets in liquid form and have changed the composition of their funding towards more stable sources (Graph 3). During 2016, liquid assets have accounted for around 20% of the major Australian banks' total assets, up from an average of around 15% in the years preceding the financial crisis. Banks have also increased their use of deposits and long-term debt and reduced their use of short-term debt.
Graph 2
<img src="https://www.rba.gov.au/speeches/2016/images/sp-gov-2016-11-15-graph2.gif" alt="Graph 2: Australian Banks' Capital and Assets">
Graph 3
<img src="https://www.rba.gov.au/speeches/2016/images/sp-gov-2016-11-15-graph3.gif" alt="Graph 3: Liquid Assets and Deposits">
These are positive developments and they provide us with an extra degree of insurance against future shocks.
Of course, this insurance does not come for free. Higher capital, more liquidity and more expensive, stable funding all have a price. We need to keep an eye out to make sure that this price is not too high and that we don't constrain the ability of the financial system to do its job. My view is that this has not been the case in Australia and that the changes have increased the resilience of our system.
There is, though, a legitimate discussion to be held as to who pays the price. We see this issue frequently debated in our media. One possibility is that the cost falls on the bank shareholders in the form of lower returns on equity. Another is that it falls on borrowers in the form of higher interest rates on bank loans relative to the cash rate.
Ultimately, the balance is for the market to sort out, but it would seem unlikely that the cost will fall entirely on one side or the other. Over time, shareholders and borrowers will both benefit from these larger buffers to the extent that they contribute to economic stability. The shareholders should experience less volatile returns and borrowers should be more likely to be supported during difficult times. The larger buffers provide a form of insurance to all.
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<h2 id="fiscal-arena">Fiscal Arena</h2>
A second area where buffers are important is on the fiscal front.
Again, the events of the past decade provide a useful illustration.
In Europe, we saw examples of what can happen when public finances are not in order when difficult times strike. In some countries, when troubles arrived, governments felt that they had little choice other than to impose austerity measures to restore the fiscal accounts, despite the fact that these measures added to the immediate downturn in the economy.
Australia, again, provides a counter example. When the shockwaves of the global financial crisis hit us, the Australian government did have the capacity to support the economy through a fiscal expansion. This support was one of a number of factors that helped us get through this period. The ability to provide the stimulus was enhanced by the sound fiscal position that had been built up over previous years (Graph 4). While the exact nature of the stimulus remains a matter of debate, regardless of where you stand on that debate, the fiscal buffers that we had did provide us with options that not all other countries had.
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<div>Graph 4</div>
<img src="https://www.rba.gov.au/speeches/2016/images/sp-gov-2016-11-15-graph4.gif" alt="Graph 4: Australian Government - Per Cent of GDP">
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Since the financial crisis in 2008, the budget has been in deficit and debt levels have moved higher. Under current projections, net debt is expected to peak in 2017/18 at 19.2% of GDP and a balanced budget is not expected until 2020/21. This would still leave the fiscal accounts in better order than those in many other countries. Importantly, this means that fiscal policy still retains capacity to support the economy in difficult times. But this capacity is less than it once was. We have a smaller buffer than we once did and a smaller buffer means fewer options.
So from a risk-management perspective, there is merit in rebuilding our buffers on the fiscal front. This is a task that can be undertaken over time and it requires difficult choices to be made. As Secretary to the Treasury John Fraser reminded us in a recent speech, the task is made more difficult by slow growth in nominal income. But it is important that we ensure our public finances are on a sustainable track. This requires a better balance to be established, over time, between recurrent spending and revenue. It is worth pointing out that this does not preclude government spending on infrastructure, where this is backed by a strong business case. Such spending can provide support for the economy and can help generate the productive assets that a prosperous economy needs. Done well, infrastructure spending is not inconsistent with establishing a better balance between recurrent spending and revenue.
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<h2 id="household-finances">Household Finances</h2>
The third set of buffers are those in household balance sheets. These buffers too are important as they influence how households respond to difficult economic times.
Ideally, in such times, people are able to draw on their savings a bit, and perhaps even access credit, so that they don't have to cut their consumption sharply. Of course they can do this only if their balance sheets are in reasonable shape.
Again, overseas experience is relevant here. In the United States when the recession hit in 2008 some households found that they had simply borrowed too much. What followed was a period of defaults by some, less new borrowing and faster repayment of some debt. The result was a more severe downturn and a more protracted recovery than otherwise would have occurred.
Given this and other experiences, we need to pay close attention to household balance sheets here in Australia too. Debt levels, relative to income, are high in Australia and are much higher than they once were (Graph 5). Currently, household debt is equivalent to 185% of annual household disposable income, a record high and up from around 70% in the early 1990s. If we net off the household sector's holdings of cash and deposits the pattern looks somewhat different. It is important, though, to recognise that the households with the debt typically are not the same ones with the large deposits.
Graph 5
<img src="https://www.rba.gov.au/speeches/2016/images/sp-gov-2016-11-15-graph5.gif" alt="Graph 5: Household Debt and Deposits">
The reasons for the large increase in household debt have been well documented. The lower nominal interest rates that followed lower inflation in the 1990s allowed people to borrow more, as did the liberalisation of the financial system. As a nation, we took advantage of these new opportunities to borrow. As a result, we ended up with both higher levels of debt and higher housing prices.
Given the low level of interest rates and ongoing employment growth, most households are managing the higher levels of debt, but many feel that they are closer to their borrowing capacity than they once were and have adjusted their behaviour accordingly. Since the financial crisis, there has been a noticeable increase in the household saving rate. We are not using our houses like ATMs in the way that we were in the decade to the mid 2000s. Gone are the days when higher housing prices were a sign that we should go to the bank and borrow more to spend.
One illustration of this change in behaviour is the large increase in balances held in mortgage offset accounts and redraw facilities. In aggregate, households now have balances in these accounts equivalent to 17% of total outstanding housing loans, which is a buffer worth 2½ years of scheduled repayments at current interest rates (Graph 6). From the survey data we look at, we can see that over recent years more households in all income brackets have got ahead on their mortgages (Graph 7).
Graph 6
<img src="https://www.rba.gov.au/speeches/2016/images/sp-gov-2016-11-15-graph6.gif" alt="Graph 6: Aggregate Mortgage Buffers">
Graph 7
<img src="https://www.rba.gov.au/speeches/2016/images/sp-gov-2016-11-15-graph7.gif" alt="Graph 7: Households Ahead on Home Loan Repayments">
 
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<h2 id="conclusion">Conclusion</h2>
This more prudent behaviour is a positive development. Given the high and rising levels of debt, though, we need to watch things carefully.
It is important that we avoid a build-up of financial imbalances in household balance sheets. We can never know with certainty exactly what level of debt is sustainable. It depends on income growth, lending standards and asset prices. But it surely must be the case that the higher is the debt, the greater is the risk. Given this, as I said recently when explaining our monetary policy decisions, it is unlikely to be in the public interest, given current projections for the economy, to encourage a noticeable rise in household indebtedness, even if doing so might encourage slightly faster consumption growth in the short term.
In each of the three areas I have talked about this evening – the financial sector, the fiscal arena and household balance sheets – the story is broadly similar. Stronger buffers give us more options. And more options promote stability and prosperity. If we skimp on the buffers then we expose ourselves to more risk.
It is true that building these buffers does not come for free. In the financial sector, it might mean lower returns on equity or higher lending margins. In the fiscal arena, it means difficult trade-offs about recurrent spending and taxation. And in the household sector, it means consumption growth is slower for a time than it might otherwise be. But this is the nature of insurance. You pay a premium for protection against future uncertainties and to provide resilience. Of course, we need to make sure that this premium is not too high. But it is surely better to pay the insurance premium when the sun is shining than when the storm clouds are building or, worse still, to seek insurance when it is too late.
This is an edited extract of a <a href="https://www.rba.gov.au/speeches/2016/sp-gov-2016-11-15" target="_blank">speech by Philip Lowe</a>, Governor of the Reserve Bank of Australia, at the Committee for Economic Development of Australia (CEDA) Annual Dinner, Melbourne.
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Financial buffers will help us weather fiscal storms: RBA Governor Philip Lowe

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SPONSORED POST
Zoning is a key ingredient to your commercial property and business success.
There is no point finding the perfect location if you cannot legally run your business there or if there are restrictions on how you can operate.
What is a zone?
Across Australia, all land has a designated zone and this tells you how the land within that certain area can be used.
There are generally four zones: residential, commercial, industrial and agricultural. Within these there are often sub-categories, such as those defining what type of commercial and industrial business can be carried out.
The laws around zoning are established by state and territory governments and this means they differ around the nation.
What role does council play in zoning?
It’s up to local councils to decide what zoning is appropriate in their area and to ensure all businesses and properties comply with their regulations.
Anyone buying commercial property, or planning to change or modify their commercial property, should contact their local council to see what they are able to do and what plans and permits they will need.
Zoning matters when…
Business Victoria also suggests checking whether any overlays apply to your property or whether there are any heritage listings that might restrict what you can do.
It says that might be necessary for commercial property if you want to:
* Set up a store, a food business or other type of business.
* Change the look of the existing shop front.
* Put advertising signs on the building.
* Change the internal fit-out of the building.
* Put outdoor seating or heaters on a footpath.
WBP Property Commercial Valuation Manager Justin Thomas says zoning and planning issues dictate use and development, and hence value.
 “The existing use may not be allowable under the zoning and could possibly be prohibited,” Thomas says.
“Purchasers must also have regard to planning overlays and investigate future planning proposals in their purchasing decision.”
Thomas says it’s also important to consider the zoning around the immediate area of a property you are thinking about buying.
“Large areas of former industrial land in inner city areas have been rezoned to allow for a more flexible use,” he says.
For more information, <a href="https://bs.serving-sys.com/BurstingPipe/adServer.bs?cn=tf&amp;c=20&amp;mc=click&amp;pli=18755997&amp;PluID=0&amp;ord=%5Btimestamp%5D" target="_blank">click here</a>.
About realcommercial.com.au: realcommercial.com.au is the leading website in Australia for commercial property, attracting an average of 1.7 million visitors a month (Source: Nielsen Online Market Intelligence, Total Traffic, average calculation May-July 2015, includes app traffic from Omniture Site Catalyst as Nielsen doesn’t report on app). It is owned and operated by realestate.com.au Pty Ltd, a subsidiary of ASX-listed REA Group Limited ACN 068 349 066 (ASX:REA).
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Zoning: why it matters for commercial property

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SPONSORED POST
Coronation’s world-class ‘8 Phillip Street’ is set to become a Sydney icon, not only for its striking contemporary design, but for the way it will totally transform the dynamic of Parramatta’s dining, riverside and historic precinct. 
<img src="/images/2016/11/08/coronation1.jpg" alt="" width="426" height="767">
The 55-storey Woods Bagot designed building will include 35 levels of apartments, 14 levels of designer QT Hotel accommodation and dining, Spa Q, and separate rooftop bar, Studio 54, on the 54th floor, and open-air pool overlooking greater Sydney.
Joe Nahas, Coronation’s Managing Director said “it’s been designed to create vibrancy in the area, during both day and night.  Locals will be encouraged to experience the sweeping 180-degree panorama of the Blue Mountains, across to Sydney Olympic Park and over to Sydney’s CBD, harbour and beyond from Studio 54, the rooftop bar, and dine in the gourmet restaurants.  It’s going to become a destination for the entire community.”
<img src="/images/2016/11/08/coronation2.jpg" alt="" width="475" height="475">
“We are deeply committed to delivering world-class architecture and creating residences that the local community will love. 8 Phillip Street will set the benchmark for mixed-use developments not only in Sydney, but internationally. Woods Bagot have delivered a design that is truly visionary and manages to exceed the high standard we insist on,” said Mr Nahas.
The project includes 280 contemporary residences with options including studios, one, two, three-bedroom layouts PLUS penthouses.
<img src="/images/2016/11/08/coronation3.jpg" alt="">
The project gallery and display apartment offers visitors the opportunity toexperience the tower’s ‘Studio 54’ rooftop bar via blockbuster movie-grade virtual reality in two booths. Via the latest technology you are transported to 8 Phillip Street and taken up the tower lift. With doors opening on level 54 you are greeted by the hostess before venturing down to your reserved table to enjoy the buzzing bar scene.
The project gallery features a luxurious to-scalethree-bedroom apartment complete with ensuite, main bathroom, powder room, laundry, kitchen, dining and living room complete with a balcony. Those interested are encouraged to secure their appointment with Coronation Property as soon as possible to see the gallery first and have their chance to secure their residence in this truly remarkable building.
Apartment sales will launch 19th November, with construction due for completion in 2020.
The project gallery and display apartment opens this weekend and is located at Level 1, 8 Phillip Street, Parramatta. Inspection is strictly by appointment only on Saturday and Sunday 11am to 4pm and Tuesday to Friday 11am to 6pm.
For more information, please call Coronation Property on 1800 753 163 or visit <a href="https://www.liveat8phillipst.com.au" target="_blank">liveat8phillipst.com.au</a>.
 
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Coronation Property’s ‘8 Phillip Street’ in Parramatta lifts the benchmark for mixed-use apartment developments to 55 storeys

Longstanding Gold Coast and Canberra developer <a href="https://www.apartments.com.au/developers/morris-property-group">Morris Property Group</a> is continuing to roll on with its Glitter Strip apartment pipeline, seeking to return to Mermaid Beach with a new 68-apartment development.

Morris, founded by Barry Morris in 1978 and one of the Gold Coast’s most prolific apartment developers over the past two decades, has filed plans for a 12-storey mixed-use building at <a href="https://www.apartments.com.au/new-apartments/36-seabeach-avenue-mermaid-beach-qld-4218">34-36 Seabeach Avenue</a>, on the prized eastern side of the Gold Coast Highway.

The 1,227 sqm site occupies a prominent corner position at Seabeach Avenue and the Gold Coast Highway, opposite the Mermaid Plaza retail and office precinct and around 140 metres walking distance from the future Mermaid Beach South light rail station.

<a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser &amp; Partners</a> has designed the project, which will comprise 68 apartments across a mix of 48 two-bedroom and 20 three-bedroom residences.

The building will rise 12 storeys, reaching a maximum height of 36 metres, with the apartments accounting for a total of 156 bedrooms. The development application also seeks approval for short-term accommodation across the 68 apartments, while two office tenancies are proposed at ground level.

The plans show 108 car spaces across the development, with parking accommodated at ground level and within a three-level basement accessed from Seabeach Avenue.

<img alt="Seabeach Avenue and the Gold Coast Highway" data-entity-type="file" data-entity-uuid="c2175c99-12fd-4a3c-9be1-89bbf258a90d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-20%20at%202.59.41%E2%80%AFPM_0.png?VersionId=iNLzWcE6gaAE76rafhEXfHve.4g4Se0p" />

Resident amenity will be concentrated on level two, where Fraser &amp; Partners has designed a recreation deck with a swimming pool, 90 sqm pool terrace, outdoor barbecue area and gym.

The broader communal offering will also incorporate landscaped spaces, with the planning documents noting the amenity has been designed to provide areas for recreation, social interaction and outdoor living.

The proposal would continue the transformation of the Gold Coast Highway corridor through Mermaid Beach ahead of the arrival of the light rail.

The site is zoned Neighbourhood Centre and sits within the Mermaid Beach/Broadbeach Light Rail Corridor neighbourhood plan. While the prescribed building height is 24 metres, the site is identified within an Urban Neighbourhood context providing for a 50 per cent height uplift to 36 metres.

Planning documents describe the stretch of the Gold Coast Highway between Broadbeach and Nobby Beach as increasingly characterised by medium and high-rise development, with the proposed Morris tower joining projects including Ventura, The Alfred, Oceans and Otto.

<img alt="Seabeach Avenue and the Gold Coast Highway" data-entity-type="file" data-entity-uuid="911f193f-e381-4a55-be08-58be87fcf978" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-20%20at%202.59.48%E2%80%AFPM.png?VersionId=oxVvLJaY.SOXEdXrIcogfyEXDfvCmmpM" />

The development would mark Morris Property Group's latest investment in Mermaid Beach, where it has already delivered two apartment projects.

Otto, at 1 Bondi Avenue on the western side of the Gold Coast Highway, comprises 70 apartments across nine storeys. The project was completed in 2019 and includes a residents' gym, recreation deck and swimming pool.

Morris also developed Oceans at 46 Ocean Street, a nine-storey, 70-apartment build-to-rent development completed in 2019. Oceans was the group's first build-to-rent project and incorporates commercial space at ground level.

The two existing Morris projects sit further north along the same Gold Coast Highway corridor as the proposed Seabeach Avenue development. Fraser &amp; Partners' planning analysis specifically identifies both Otto and Oceans among the established built-form precedents surrounding the site.

<img alt="Seabeach Avenue and the Gold Coast Highway" data-entity-type="file" data-entity-uuid="14925119-7b71-4812-8149-340317512c7c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-20%20at%203.00.15%E2%80%AFPM.png?VersionId=aEJqYuw_nTCjcin17BSD0piB1EFotTlj" />

Mermaid Beach represents only part of Morris' considerable Gold Coast footprint.

The family-owned developer has been particularly active in neighbouring Broadbeach, delivering projects including Sierra Grand, Eclipse, Synergy, Qube, Koko, Opus and Malo, while its current pipeline includes Maison and the two-tower Crest development.

Further south, Morris has also developed a string of projects in Burleigh Heads, including Element, Boardwalk and Sandbar, while Essentia expanded its footprint north into Surfers Paradise.

The Seabeach Avenue application has been lodged by PMM Broadbeach Pty Ltd and seeks a development permit for a Material Change of Use for multiple dwellings, short-term accommodation and office uses. Zone Planning Group prepared the planning application, with Fraser &amp; Partners commissioned as architect.

The project comes as the developer continues to expand its Gold Coast pipeline while retaining a significant presence in Canberra. Morris now has more than $2.5 billion of development in its national pipeline and has delivered more than 7,000 homes during its near five-decade history

Joel Robinson

First look: Morris Property Group returns to Mermaid Beach with new Seabeach Avenue apartment development

<a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/developers/fortis&amp;source=gmail&amp;ust=1787272340808000&amp;usg=AOvVaw3hvFB2uWTRfEyEcpTSnnK9" href="https://www.apartments.com.au/developers/fortis" target="_blank">Fortis</a>&nbsp;is continuing its stronghold on Sydn​ey’s eastern suburbs apartment market, launching&nbsp;in September&nbsp;its latest boutique&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/developments/double-bay-nsw-2028&amp;source=gmail&amp;ust=1787272340808000&amp;usg=AOvVaw0GI5S9-wNeiLUnM-d1uYkw" href="https://www.apartments.com.au/developments/double-bay-nsw-2028" target="_blank">Double Bay</a>&nbsp;development,&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/new-apartments/55-william-double-bay-55-william-street-double-bay-nsw-2028&amp;source=gmail&amp;ust=1787272340808000&amp;usg=AOvVaw2YNouJQcFjiTTgVHbgDLA-" href="https://www.apartments.com.au/new-apartments/55-william-double-bay-55-william-street-double-bay-nsw-2028" target="_blank">55 William</a>.

55 William presents&nbsp;just eight north-facing&nbsp;two-bedroom, three-bedroom and full-floor&nbsp;residences to the market, priced from $4.5 million.

The upcoming launch comes just weeks after Fortis secured approval for the $80 million development, its third eastern suburbs approval in two months. Construction is already underway, with completion targeted for 2028.

[smartcode_project:default project_id=152579 project_image_fid=376250]

55 William adds to a growing concentration of Fortis projects in and around Double Bay, a market the developer has become increasingly active in over recent years.

Fortis previously completed the nine-residence Marmont on New South Head Road, while it is currently developing a mixed-use residential and retail project at 12 Cross Street. Its wider Double Bay footprint also extends into commercial and retail development.

The developer's broader Sydney residential pipeline is particularly concentrated across the eastern suburbs, with projects spanning Doub​le Bay, Ro​se Bay, Wo​ollahra, Dar​ling Point, Poi​nt Piper and Eli​zabeth Bay.

[smartcode_project:default project_id=152579 project_image_fid=376253]

At 55 William, Fortis has again turned to MHN Design Union, the architecture practice behind several of its eastern suburbs projects, while London-based 1508 London has been appointed to handle the interiors and Wyer &amp; Co the landscaping.

The six-level building will comprise a combination of two and three-bedroom apartments, including a garden residence, full-floor apartments, a sub-penthouse and penthouse. Each residence will have secure basement parking and private outdoor space.

A rooftop terrace for all residents, along with select apartments, enjoys views across Double Bay Harbour and toward the Sydney skyline.

Ceiling heights will reach up to three metres&nbsp;in select residences, while the kitchens will feature natural stone and integrated Gaggenau appliances.

&nbsp;

&nbsp;

The boutique nature of the project reflects the type of stock Fortis has increasingly targeted across Sydney's eastern suburbs, where larger apartments and smaller buildings are being pitched primarily toward local owner-occupiers and downsizers.

Fortis Group General Manager Ed Eve said the developer continues to see demand from buyers wanting to remain in the eastern suburbs but move into newer, lower-maintenance housing.

“We're seeing continued demand from local owner-occupiers and downsizers looking for high-quality homes that allow them to remain in the eastern suburbs, close to the lifestyle and community they know,” Eve said.

55 William is also one of the early projects to respond directly to the NSW Government's Low and Mid-Rise Housing reforms. Fortis had previously secured approval for just two townhouses on the 599 sqm site before revising the scheme to eight apartments following the planning changes.

Situated one street back from Double Bay's water's edge, the project enjoys an enviable harbourside setting within walking distance of Double Bay Village and the ferry wharf.

[smartcode_project:default project_id=152579 project_image_fid=376252]

Fortis has increasingly made the eastern suburbs a major focus of its Sydney pipeline. Beyond Double Bay, it recently completed the 14-residence Piper in Point Piper and has projects underway or planned across Rose Bay, Woollahra and Darling Point.

The developer recently secured approval for Verano in Rose Bay, a six-level development comprising 21 two, three and four-bedroom apartments, also designed by MHNDU.

55 William&nbsp;is soon to be release to the market with VIP appointments commencing early September,&nbsp;with residences priced from $4.5 million.

[smartcode_project_cta:default project_id=152579]

Fortis continues eastern suburbs push with 55 William launch

UAE-based developer Arada has unveiled plans for a $2 billion twin-tower apartment development in Broadbeach, marking its first move into Queensland as it continues its rapid expansion across Australia.

Arada will develop 952 apartments across two towers on a prominent site opposite the Gold Coast Convention and Exhibition Centre, with the project targeted for completion ahead of the Brisbane 2032 Olympic and Paralympic Games.

The project represents Arada's largest commitment to the Australian market since arriving in the country in 2024 and significantly expands a local pipeline that has now grown to eight projects and more than 5,000 homes.

It will also be the first major Queensland project delivered by Roberts Co since the tier-one contractor was acquired by Arada Group in 2025.

Plus Studio has designed the Broadbeach development, which will comprise one, two and three-bedroom apartments across two towers connected by a landscaped podium.

A significant resident amenity offering will include lagoon and lap pools, a gym, sauna and steam room, alongside a mist room, infrared room and salt scrub facilities. Communal terraces, private dining areas, a library, residents' lounge and work-from-home spaces are also planned. Around 1,200 sqm of retail and hospitality space will occupy the ground floor.

The site puts Arada in one of the Gold Coast's most active apartment markets, directly opposite the convention centre and within walking distance of Pacific Fair, The Star Gold Coast and Broadbeach's dining and retail precinct.

It also has immediate access to the Gold Coast light rail network and sits just a few blocks from the beach.

Arada Group Chief Executive Ahmed Alkhoshaibi said Broadbeach represented an opportunity for the developer to expand beyond its initial NSW pipeline.

“Broadbeach is a world-class address that gives us the canvas to create a community of exceptional design and lifestyle quality that genuinely enriches the daily lives of the people who call it home,” Alkhoshaibi said.

“This is our first development outside New South Wales, and it reflects our growing ambition to grow in key urban markets around the country.”

Alkhoshaibi said bringing Roberts Co into the project would give Arada greater control over the development and construction process.

“Delivering this project through Roberts Co, our own tier-one construction business, means we can bring the quality, pace and accountability that our buyers expect.”

The move into Broadbeach comes as Arada accelerates its Australian expansion following its entry into the market two years ago. The developer has assembled a pipeline of eight projects comprising more than 5,000 homes, while the acquisition of Roberts Co last year gave the group its own Australian construction capability.

Globally, Arada has a development portfolio valued at $50 billion comprising more than 55,000 homes across the UAE, United Kingdom and Australia.

The Gold Coast is emerging as the next major market for the developer, with strong population growth and infrastructure spending ahead of the 2032 Games continuing to underpin significant apartment development across the coastal strip.

Arada plots $2 billion Broadbeach towers in major Queensland move

Sydney’s downsizer market is changing, with a growing cohort of buyers prioritising the right home over simply finding a smaller one.

Coronation Property Head of Sales Cam Porter says the traditional idea of downsizing does not necessarily reflect what many buyers are now looking for, particularly those moving from established family homes across Sydney.

Instead, he says they are increasingly becoming “right-sizers”, seeking lower-maintenance homes without sacrificing the space, amenity or quality they have become accustomed to.

“We are increasingly seeing buyers who are not motivated by the idea of simply moving into a smaller property,” Porter says.

“They are right-sizers. They want a home that is easier to manage and better connected, but they still expect generosity, quality and a floorplan that supports the way they live.”

It is a subtle but important distinction in a market where apartment developers are increasingly targeting established owner-occupiers.

[smartcode_project:default project_id=135149 project_image_fid=377495]

For many of these buyers, moving from a house to an apartment is not driven by a desire to dramatically reduce their living space. Instead, the appeal is in removing some of the maintenance associated with a larger home while retaining generous living areas, storage and enough flexibility to accommodate family and friends.

Coronation’s sales team is seeing buyers place particular importance on natural light, practical storage and additional rooms that can be used as guest bedrooms, home offices or secondary living spaces.

Kitchens and dining areas are also playing an increasingly important role, particularly for buyers who regularly entertain or have children and grandchildren visit.

[smartcode_project:default project_id=135149 project_image_fid=377494]

“These buyers still want their home to feel generous,” Porter says.

“They may want less maintenance, but they are not looking for less life.”

The challenge for the broader housing market is providing enough of the right stock to encourage that move.

While much of the discussion around Sydney’s housing shortage has centred on the number of homes being delivered, Porter says the diversity of those homes is equally important.

Older homeowners can remain in large family houses for longer when they cannot find an appropriate alternative in the neighbourhoods where they have built their lives.

“The decision is rarely as simple as wanting fewer bedrooms,” Porter says.

“People are weighing up their connection to a neighbourhood, the space they need for family, the quality of the home and whether it will continue to work for them over the long term.”

It also has implications beyond the downsizer market. Providing suitable apartments for smaller households can free up established houses for families who need the additional bedrooms and land, creating greater movement through the housing market.

<h2>Lillian targets the next stage of apartment buyer</h2>

It is a buyer Coronation is targeting at <a href="https://www.apartments.com.au/new-apartments/lillian-erskineville-9-metters-street-erskineville-nsw-2043">Lillian</a>, its new collection of apartments, terraces and penthouses at Erskineville Village.

Designed by Silvester Fuller, Lillian has been shaped around larger living spaces, natural light and flexible floorplans, alongside landscaped areas, wellness amenity and communal spaces for residents.

The development will form part of Coronation’s broader Erskineville Village precinct, which will combine new homes with green space, retail, hospitality and new pedestrian connections.

[smartcode_project:default project_id=135149 project_image_fid=377688]

McPherson Park will sit at the centre of the precinct, creating a significant new green space alongside the project’s retail and hospitality offering.

For Porter, the opportunity is to give buyers another housing option without forcing them to leave the part of Sydney they already know.

“People should be able to change the type of home they live in without having to change their entire life,” he says.

“For many buyers, Lillian offers the opportunity to remain connected to the Inner West and the city, while gaining access to a more convenient, walkable and considered way of living.”

[smartcode_project:default project_id=135149 project_image_fid=377687]

Coronation will explore the changing <a href="https://lillianresidences.com.au/news/lillian-x-space-x-downsizers-event-27-august/">right-sizer market at an event on August 27</a>, bringing together experts across property, design and lifestyle.

Held in partnership with SPACE, Poliform and Downsizer.com.au, the event will include a property market outlook from economist Michael Blythe alongside discussion around the considerations facing buyers planning their next move.

Attendees will also be able to learn more about the residences and amenity planned at Lillian Erskineville.

[smartcode_project_cta:default project_id=135149]

From downsizing to right-sizing: What Sydney buyers want from their next home

Family-owned builder and developer <a href="https://www.apartments.com.au/developers/omaya">Omaya</a> is bringing its 27-storey The Maybelle development to market, with the 229-apartment tower rising alongside Ismay Reserve near North Strathfield.

<a href="https://www.apartments.com.au/new-apartments/the-maybelle-21-parramatta-road-homebush-nsw-2140">The Maybelle</a> will comprise one, two and three-bedroom apartments, with its height providing elevated outlooks towards the Sydney skyline and Harbour Bridge, while other residences will look across neighbouring Ismay Reserve.

Designed by <a href="https://www.apartments.com.au/architects/squillace-architects">Squillace Architects</a>, the tower combines its parkside setting with proximity to the established retail, dining and transport amenity around North Strathfield.

[smartcode_project:default project_id=134873 project_image_fid=376196]

Residences will feature open-plan living spaces and a choice of two interior schemes, while communal amenity is spread across two elevated levels of the building.

Level 8 will be home to the Garden Pavilion, a full-floor resident space incorporating communal entertaining and breakout areas, seating and recreation spaces. Further up the tower, a landscaped Sky Terrace on Level 14 will provide another communal area with panoramic views towards the Harbour Bridge and Sydney skyline.

At ground level, the development sits directly alongside Ismay Reserve, where lawns, walking paths, children's play areas, picnic spaces and recreational facilities extend the green space available immediately around the project.

[smartcode_project:default project_id=134873 project_image_fid=376194]

The Maybelle is also within walking distance of North Strathfield and the Bakehouse Quarter, which provides a mix of cafés, restaurants, shops and everyday services.

Existing rail and bus services provide connections across Sydney, while the future North Strathfield Metro and access to the M4 will add to the transport options available around the precinct. Walking and cycling routes also extend via Powells Creek towards Sydney Olympic Park and its sporting, entertainment and parkland precincts.

Families are also well positioned for access to a broad selection of established schools and education options across Strathfield and the surrounding Inner West.

[smartcode_project:default project_id=134873 project_image_fid=376181]

Omaya has operated in Sydney for more than 35 years, managing projects from acquisition and design through to construction and delivery. The family-owned company is both developer and builder of The Maybelle.

Apartments start from $560,000, with the development protected by 10-year Latent Defects Insurance.

Construction is well underway, with completion expected by the end of 2026 and move-in anticipated from Q1 2027.

[smartcode_project_cta:default project_id=134873]

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