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After last month’s rout, global stock markets bounced back but financial markets remain edgy. The unemployment rate rose to 6%, and inflation, at 1.7%, remains below the RBA’s target band of 2-3%. Overall, the outlook for the Australian economy is modest.
The CAMA RBA Shadow Board continues to have a strong preference for keeping the cash rate on hold, attaching a 68% probability to this being the appropriate policy setting. The confidence attached to a required rate cut equals 22%, down five percentage points from the previous month, while the confidence in a required rate hike only equals 10%.
Australia’s unemployment, according to the Australian Bureau of Statistics, climbed to 6%. Full-time employment shrank by over 40,000 in January, while the participation rate remain unchanged. At less than 0.5%, there is still no real wage growth to speak of, making it more difficult for households to stimulate the economy with higher consumption expenditure.
The Aussie dollar remains range-bound between 70 US¢ and 73 US¢. The benefits of a weak domestic currency are not yet obvious from the trade data. In December 2015 the trade deficit equalled $3.5 billion which is greater than the previous five months. Yields on Australian 10-year government bonds have fallen yet again, most recently to 2.39%, indicating that financial markets are expecting sustained weakness in the Australian economy.
Worldwide, particularly in the emerging markets, the economic outlook looks feeble. Global share markets have rebounded a little but volatility and uncertainty, as measured by the VIX, remain high.
World trade fell 13.8% in dollar terms in 2015, making it the worst year for global trade since the global financial crisis, according to the Netherlands Bureau of Economic Policy World Trade Monitor. However, much of this decline can be attributed to falling commodity prices; in volume terms the picture looks much less grim.
While the US economy continues to expand at a modest clip, Europe and the emerging markets are straining. High indebtedness, both private and public, limits the extent to which these economies can fuel demand, even at historically low interest rates. Thus, global growth will likely remain weak, and there may be further disruptions in financial markets.
The Shadow Board’s confidence that the cash rate should remain at its current level is virtually unchanged at 68% (69% in February). The confidence that a rate cut is appropriate has, after two consecutive drops, risen again and now equals 22% (17% in February); the confidence that a rate increase, to 2.25% or higher, is necessary has fallen to 10% (14% in February).
The probabilities at longer horizons are as follows: 6 months out, the estimated probability that the cash rate should remain at 2% has jumped to 30% (24% in February). The estimated need for an interest rate increase has fallen 13 percentage point to 47%, while the need for a rate decrease has risen to 23% (16% in February). A year out, the Shadow Board members’ confidence that the cash rate should be held steady edged up three percentage points, from 19% to 22%, while the confidence in a required cash rate increase equals 63% (66% in February) and in a required cash rate decrease 16% (unchanged from February).
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po-LsXgBTHBmX

More of the same from the Reserve Bank: Shadow Board

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The preliminary clearance rate for the Gold Coast stands at 48.8 percent from 70 total auctions for the week ending February 28, according to CoreLogic RP Data.
Queensland's Sunshine Coast came in at 43.3 percent, Victoria's Geelong at 88.9 percent and NSW's Wollongong at 75.9 percent.
 
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Gold Coast clearance rate stands at 48.8 percent: CoreLogic RP Data

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Melbourne held a preliminary clearance rate of 75 percent for the week ending February 29, up from 74.1 percent of last week according to CoreLogic RP Data.
The Inner South had a preliminary clearance rate of 83.9 percent, with Inner Melbourne at 71.8 percent.
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Melbourne's Inner South nets clearance rate of 83.9 percent: CoreLogic RP Data

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Sydney'a preliminary auction clearance fell to 73.3 percent, for the week ending 28 February from last week's 76.5 percent, according to CoreLogic RP Data.
The Eastern Suburbs has a preliminary clearance rate of 86.9 percent with North Sydney and Hornsby with 173 auctions. and a preliminary clearance rate of 78.5 percent.
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Sydney's Eastern Suburbs holds clearance rate of 86.9 percent: CoreLogic RP Data

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<div id="GeneralBodyContent">
Consumer Affairs Victoria is undertaking a review of the following consumer property legislation:
<ul>
<li>Estate Agents Act 1980</li>
<li>Owners Corporations Act 2006</li>
<li>Conveyancers Act 2006</li>
<li>Sale of Land Act 1962</li>
</ul>
The review will:
<ul>
<li>identify opportunities to modernise and improve the legislation, taking into account stakeholders’ experiences and industry developments since each Act came into operation</li>
<li>examine whether the legislation efficiently and effectively regulates the conduct of licensed practitioners involved in the sale of land, real estate transactions and management of owners corporations</li>
<li>recommend changes to improve the way the legislation operates. </li>
</ul>
</div>
<div id="GeneralBodyContent">
<h2>Consultation process</h2>
As part of this review, the Minister for Consumer Affairs has approved the release of three issues papers for public consultation. The purpose of these papers is to raise issues for consideration and comment, and draw out evidence and commentary from stakeholders about the nature of the issues and the extent of any problems.
Anyone may make a submission for consideration in response to the issues papers.
Each issues paper includes a series of questions as a guide to writing your submission. We also welcome your suggestions for other issues you believe should be considered in the lead-up to the release of an options paper in mid-2016.
<h3>Making a submission</h3>
You can make a submission until 11 March 2016:
By mail: Consumer Property Law Review Policy and Legislation Branch Consumer Affairs Victoria GPO Box 123 Melbourne VIC 3001 By email: <a href="mailto:consumerpropertylawreview@justice.vic.gov.au" target="_blank">consumerpropertylawreview@justice.vic.gov.au</a>
Unless you label your submission as confidential, your submission or its contents will be made publicly available in this and any subsequent review process. Submissions may be subject to Freedom of Information and other laws. Consumer Affairs Victoria reserves the right to not publish information that could be seen to be defamatory or discriminatory.
Please ensure any documents sent via email do not exceed 5 MB in size. Word documents are preferred, for accessibility reasons.
Your submission must include:
<ul>
<li>your name</li>
<li>organisation name (if applicable)</li>
<li>your email address.</li>
</ul>
Submissions will be made available on our website after 11 March.
If you have any queries, please email <a href="mailto:consumerpropertylawreview@justice.vic.gov.au" target="_blank">consumerpropertylawreview@justice.vic.gov.au</a>
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Property 101: Consumer property law review - February 2016

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Economists believe the Reserve Bank will keep the cash rate on hold at 2 percent ahead of Tuesday's monthly board meeting.
31 experts surveyed for the <a href="https://www.finder.com.au" target="_blank">finder.com.au</a> Reserve Bank Survey believe the Reserve Bank is comfortable with the current cash rate setting, with Shane Oliver from AMP Capital saying it's basically in 'wait and see mode' regarding the jobs market and the potential impact of global financial turmoil.
Westpac's Bill Evans said the Board will be assessing whether the recent improvement in labour market conditions was to continue and whether recent financial market turbulence presaged weaker global and domestic demand.
According to the survey, 39 percent of respondents  predict ‘out of cycle’ interest rate changes this year despite the overwhelming majority expecting that the Reserve Bank will keep the cash rate on hold or drop it in 2016.
Some 45 percent of respondents believe we are at the bottom of the cycle and 26 percent forecast one further rate cut to 1.75 percent. 10 percent of those surveyed predict the cash rate will fall to 1.50 percent this cycle. Nearly half of those polled believe the next move from the RBA will be to increase rates, however not until 2017.
Finder.com.au consumer advocate Bessie Hassan said some lenders have a tendency to keep their rate hikes quiet and with the uncertainty in the market, it’s really important that homeowners don’t become complacent about their mortgages and therefore miss any important news that may impact their finances. “Australians should be cautious – experts are divided about what lenders will do next. While we don’t expect a dramatic upswing in rates, they can turn very quickly and catch borrowers by surprise.  “But if you do your homework now those changes won’t become a burden. A little planning can go a long way.”  
Tips on how to maximise your mortgage now 
<ul>
<li dir="ltr">
Consider fixing your home loan. Look around at other financial institutions, not just your current lender, to find the best deals. The lowest 3-year fixed rates on finder.com.au currently sit at 3.99 percent.
</li>
<li dir="ltr">
Pay off more on your mortgage each month or drop money into an offset account while interest rates are at record lows to give  yourself a buffer against possible increases.
</li>
<li dir="ltr">
Cut back on spending to be better placed with a rise in interest rates. Those savings can help service your mortgage debt.
</li>
</ul>
 What our experts had to say in the March Reserve Bank Survey: Shane Oliver, AMP Capital: “Recent Reserve Bank commentary suggests a degree of comfort with the current level for the cash rate and while it retains an easing bias not enough has changed to suggest it is about to act on it. It's basically in wait and see mode regarding the jobs market and the potential impact of global financial turmoil.”
Garry Shilson-Josling, Australian Associated Press: “For the Reserve Bank, it's a matter of "so far, so good". In his testimony to parliament on Friday, Reserve Bank governor Stevens made it pretty clear he was in no hurry to move the cash rate.The big question for the RBA is to reconcile the strong labour market data and the weaker GDP data. If jobs growth continues in line with its recent trend, talk of rate hikes will be grow louder over the second half of this year.”
Steven Pambris, Bank Of Sydney: “Current Market Conditions remain subdued.”
Richard Robinson, BIS Shrapnel: “Although below trend, economic growth is still holding, with enough positives to outweigh the negatives. Confidence rebounded in February, so consumers are not panicking, and households will continue to spend, albeit with modest growth.”
Mark Brimble, Griffith University: “The majority of indicators are weakening (employment, confidence, sentiment, output, market volatility, capex, the ill advised Fed movement last year, default rates, oil related debt concerns, etc) and the rise in rates by banks (which they argued was due to APRA capital requirements) has further dampened growth.  The Reserve Bank has room to move on rates and the economy needs the support - both the actual and the psychological.”
Chris Caton, BT Financial Group: “No reason to do anything else.”
Michael Blythe, CBA: “Economy is responding to low rates and lower AUD. So no need for more stimulus at this point.”
Savanth Sebastian, CommSec: “Reserve Bank Board Members will wait on more data on just how well the economy is tracking in early 2016.”
Dr Andrew Wilson, Domain: “Labour market still holding.”
Jason Spencer, Homely.com.au: “Credit growth is growing at a moderate pace while the dollar remains around the reasonable 70c mark.”
Shane Garrett, Housing Industry Association: “The Reserve Bank remains open to the possibility of reducing interest rates, but is only likely to do so should the economic situation internationally deteriorate further.”
Paul Bloxham, HSBC: “Gross is solid.”
Michael Witts, ING Bank: “The domestic economy is continuing to be resilient in the face of the global volatility. the Bank will want to see more information prior to making a call.”
Grant Harrod, LJ Hooker: “Despite a slight increase in the unemployment rate, there are no clear signs that the Australian economy has deteriorated. This will see the Reserve Bank continue its wait and see approach. Slower house price growth and low levels of inflation provide the Reserve Bank with enough room to cut rates should they need to stimulate growth during the first half of 2016.”
John Caelli, ME: “Weaker than expected global growth.”
Mark Crosby, Melbourne Business School: “Despite a volatile international environment the local economy is still stable and the inflation outlook would warrant holding for the moment.The current environment is quite volatile, and my expectation is that this will subside as China in particular stabilises. But there is a non-trivial downside risk which would alter the path for rates.”
Lisa Montgomery, Mortgage &amp; Consumer Finance Expert: “There is no economic data to support any change in cash rate.”
Jessica Darnbrough, Mortgage Choice: “Domestic data has been relatively upbeat of late, thus providing the Reserve Bank with no real reason to change their stance on monetary policy.”
Ken Sayer, Mortgage House: “Economic indicators ‘lack lustre’.”
Chris Schade, MyState Bank: “Whilst it remains more likely the Reserve Bank will cut as oppose to raise rates in 2016, conditions in the domestic economy do not currently warrant such. That said, the Board will be closely watching economic developments over the coming period and remains ready to act if required.”
Saul Eslake, Independent Economist: “There is no good reason for the Reserve Bank to change the cash rate. Monetary policy is already highly accommodative; although the economy is growing at a below-trend pace, the unemployment rate has been falling of late and 'underlying' inflation is comfortably within the Reserve Bank's target band. Although the ongoing turmoil on financial markets potentially represents a source of downside risk, there is as yet no evidence of that potential being realized: and as the Reserve Bank has noted, they have scope to cut rates further should that prove necessary.”
Alan Oster, NAB: “Too early to tell what is happening in non mining post equity route.”
Peter Boehm, onthehouse.com.au: “Holding rates seems like the sensible option at this stage. With inflation under control (and unlikely to be a problem for the next twelve months or so), unemployment at sub 6% with good participation rates and reasonable albeit below trend economic growth as measured by GDP, there is no need to help stimulate the economy by dropping rates further right now.  In any event, there is some doubt that a drop in the Reserve Bank’s Cash Rate would be passed on to consumers in full through lower borrowing costs as lenders aim to shore up their balance sheets and bottom line. Further, it is also doubtful that any further reduction in interest rates would help stimulate economic activity to the extent hoped given the effect of global forces currently impacting market sentiment here in Australia – with China’s response to its economic situation topping the list.  It is also worth noting that dropping rates further may hurt older Australians who rely on earnings from their savings to help fund their retirement living.   If rates were to fall further it’s a signal that our economy is probably in a lot worse shape then we’re led to believe.  A key area of economic focus should be on how to effectively fund the provision of what has been described as “expensive government services” and this relies on reform of the tax system and not interest rates.” 
Zoe Pointon, OpenAgent.com.au: “Uncertainty in the equity markets and slowing property price growth.”
Jonathan Chancellor, Property Observer: “The Reserve Bank loves to move slowly when lowering rates, so not yet.”
Noel Whittaker, QUT: “Uncertainty.”
Angus Raine, Raine &amp; Horne: “The Reserve Bank will stick with its 'wait and see' approach from February. It will seek to weigh inflation data, financial and commodity market turmoil, and business confidence, against local real estate data which appears to be on the improve compared to the end of 2015.There are plenty of buyers and investors in the Sydney, Melbourne and Brisbane markets, who missed out in 2015 and have decided to return to the market for a second shot at buying a property. While we don't expect the double-digit growth of 2015, we still expect to see growth in some of Australia's biggest real estate markets, especially in light of ongoing share market volatility.”
Nathan McMullen, RAMS: “Reasonable prospects for growth in the economy remain driven by current accommodative interest rate settings.”
Janu Chan, St.George Bank: “The Reserve Bank is in a wait and see stance. Low inflation and global uncertainty keeps the possibility of a rate cut alive, but it won't feel the need to while the labour market is performing quite well.”
Nicki Hutley, Urbis: “The domestic economy continues to post moderate growth on output and employment. The impact of recent global instability on the real economy is as yet unknown.”
Bill Evans, Westpac: “The Board will be assessing whether “the recent improvement in labour market conditions was continuing and whether recent financial market turbulence presaged weaker global and domestic demand...  We assess that the balance of these forces will see the unemployment rate hold around 6.0% during 2016 before grinding lower in 2017, as the economy gains momentum.” 
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1.5% cash rate forecast, but no move at March RBA: finder.com.au

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Share markets in Australia have had a horror start to 2016 following weak performance in 2015.
Market losses are leading some investors to query whether to look elsewhere for investment.
Amid market volatility, some Australians will be eyeing residential property as a safer haven for their investments, not withstanding the likelihood of reform to the longstanding negative gearing system.
The prospects for Australian property over the coming year also mixed.
So what should you consider when reviewing your asset portfolio?
To download our handy guide from DPN to help aid your decision, <a href="/images/2016/DPN_ebook/DPN.pdf" target="_blank">click here</a>.
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Property v Shares

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SPONSORED POST
Macquarie Park is the latest suburb on the lips of Sydney’s savviest property seekers.
The median unit price has risen 49.9 per cent in the past five years to $671,000, according to the latest CoreLogic RP Data statistics.
Macquarie Park already has a larger office market than North Sydney and Parramatta, is home to Sydney’s largest shopping centre and boasts a world-class university. The area is tipped to become Australia’s fourth largest CBD by 2030.
At 16 km northwest of Sydney’s CBD, Macquarie Park is nestled between three train stations with a new train line to service the suburb by 2019. 
Australian property developer and hotelier TOGA this month unveiled its latest residential tower in the area offering buyers a bite at the rapidly growing hotspot.  Designed by award-winning Australian architects Turner, One Twenty Macquarie will offer buyers a choice of one, two and three-bedroom apartments, with prices starting from $600,000.
It is set to be the tallest tower in the suburb at 23-storeys.
All 196 luxury apartments will have access to the development’s premium amenities including a gymnasium, theatrette, landscaped gardens and a retail café. All apartments include car parking. One Twenty Macquarie is a short walk to Macquarie University, Macquarie Shopping Centre and Macquarie University train station, luring investors, the area’s working population and families alike.
TOGA has reported strong interest ahead of the March 5 sales launch.
TOGA Chief Executive of Development and Construction, Fabrizio Perilli, said One Twenty Macquarie would offer buyers unsurpassed convenience and exceptional liveability in an area with a strong long-term outlook.   
“With significant investment in the region for infrastructure and services, Macquarie Park is no doubt an excellent choice for buyers,” Mr Perilli said.
“Occupying a prime position along the rail corridor, One Twenty Macquarie is ideally located to connect to the Sydney CBD as well as Macquarie Park’s thriving local metropolis,” he said.
“One Twenty Macquarie is designed to enrich the lifestyles of its residents with sophisticated amenities and spectacular views,” Mr Perilli added.
Views from the One Twenty Macquarie apartments’ include the city, North Sydney, Chatswood, Homebush and sprawling Lane Cove National Park.
One Twenty Macquarie’s apartments will feature Miele appliances and premium finishes including Caesarstone benchtops, mirrored splashbacks, timber flooring and custom joinery.
Buyers can choose between Arcus or Opacus – either understated light or dark palettes featuring softly-layered earthy tones.
Construction is scheduled to begin mid-year with completion expected in 2018.
TOGA has already enjoyed sales success with two developments in the same area, the 618-apartment sold-out development Macquarie Central and the 164-apartment Macquarie Green, 90 per cent of which has already been sold.
One Twenty Macquarie is located at 120 Herring Road, Macquarie Park.
Potential buyers can see a replica of a two-bedroom apartment at One Twenty Macquarie’s display, which is a fully-appointed and furnished 82sqm floor plan featuring available finishes, accurate ceiling heights and apartment upgrade options.  
One Twenty Macquarie’s project gallery can be viewed by appointment only and is located at: G03/13-15 Lyon Park Road Macquarie Park NSW 2113
For more information visit <a href="https://www.onetwentymacquarie.com.au" target="_blank">www.onetwentymacquarie.com.au </a>or call 1300 926 946.
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Savvy property seekers eye Macquarie Park

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Existing staff habits could derail the implementation of new workplace strategies according to commercial real estate firm JLL.
JLL’s associate director of workplace strategy, Nathan Sri, said many staff have long-ingrained habits relating to their work space, and the power of habit is the single biggest risk to workplace change programs
Mr Sri said facilitating a change in people’s habits relied on two critical success factors; how they relate to space and technology.
“It’s about the ability of staff to adopt the new space according to their work tasks and business drivers, and their ability to utilise the technology to drive congruent values and behaviours,” he said.
"As surprising as it may be, brain scans show that elite athletes use significantly less of their brain than their non-elite counterparts. In fact, extensive research has found that the cognitive side of the brain is used less and less as the athlete begins mastering his actions and movements. 
“Practice makes permanent, not perfect. This idea can also be applied to the knowledge worker when they are transitioning to a new work space. The longer individuals are in a certain workplace arrangement, the more entrenched their habits relating to that space become.
"it was important for companies to realise that the organisational change process can start a number of months before a company moves into a new space, and that this was a key factor in mitigating risk.
“The fallacy is for companies to think that they need to wait for their brand new office before they can affect behavioural change among staff. Staging behavioural changes helps break down the change into chunks that allow staff to adapt changes and adjust their habits in a more gradual process – preparing them for the change when it officially arrives.”
JLL’s Director of Workplace Strategy, Dinesh Acharya said the success of a workplace program depends largely on a well-conceived change program that considers the needs and experiences of employees and in particular, managers, in order to inspire new conversations and behaviours over time.
“Too often, change management programs focus on communicating to employees, assuming that if we inform people of the change, they will ultimately embrace it. While strategic communications are effective in many situations, the more complex initiatives that aim to drive new collaborative ways of working require a more subtle and continuous approach to managing change," he said.
 
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Staff habits are the single biggest risk to workplace change programs 

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The current laws governing residential and commercial buildings in Queensland are overly onerous and out-of-step with lawmakers’ objectives, according to a leading litigation lawyer. 
The Queensland government called for submissions regarding administrative and procedural issues arising from The Body Corporate and Community Management Act 1997 (Qld). 
In his submission, Slater and Gordon Litigation Lawyer David Greene said the current regulations are placing a large burden on bodies corporate across the state. 
“A growing number of Queenslanders live and work in buildings governed by this regulatory framework, which is failing to strike a balance between individual rights and democratic decision making,” Mr Greene said. 
“For example, some decisions currently require unanimous agreement, including potentially sustainable infrastructure proposals such as solar panels, water saving devices and wind generators. 
“Securing the agreement of every lot owner is onerous and counter-productive, especially when you consider that most sustainable infrastructure increases the value and longevity of the building, as well as reducing cost of living for residents.” 
However, Mr Greene also stressed the importance of ensuring every lot owner has a voice in the process. 
“In my opinion, there is no better safeguard to protect the minority interests of lot owners than their ability to challenge the reasonableness of a decision by the body corporate” Mr Greene said. 
“The current legislation allows for such challenges, but parties should not have to put up with the uncertainty and expense of utilising those procedures every time they fail to obtain unanimous support for a proposal. 
“Instead, the introduction of a special resolution for certain decisions (those presently requiring unanimous support) would provide an adequate layer of support and protection by balancing individual rights with the need for community consensus.” 
Recommendations to improve the effectiveness of Queensland’s body corporate laws 
1. Remove the onerous requirement for unanimous support and replace with a requirement to obtain a special resolution for certain decisions. 
2. Improve the dispute resolution provisions (including lot boundary disputes) and building and maintenance issues by requiring the original owner to hand over the development approval, the certificate of classification, the fire safety plan, the building contract and any other contracts which the body corporate is a party to for the site at the first AGM. 
3. Protect schemes from external influence and proxy voting by maintaining secret ballots to appoint a body corporate manager. 
4. Prevent ‘gaming’ of the system in small schemes that struggle to find sufficient numbers of lot owners willing to serve on a committee, by having the appointment of a body corporate manager as default, with an option to establish a committee as an alternative. 
5. Broaden the scope of the dispute resolution provisions, but ensure sufficient protections are built in to ensure concurrent litigation is not running in the Commissioner’s office and a Court. Concurrent litigation could become a legitimate strategy for a developer to undermine the ability of the body corporate to obtain a relatively inexpensive, easy and quick resolution to a dispute. 
Slater and Gordon Litigation Lawyer David Greene’s full submission to the Property Law Review Issues Paper is available <a href="https://media.slatergordon.com.au/s3fs-public/submission.pdf" target="_blank">here</a>: 
 
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Property 101: Queensland body corporate laws onerous and 'out of step'

Abadeen has released the whole-floor penthouse crowning its recently completed <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences</a> development in Cremorne, bringing the near-300 sqm residence to market for the first time.

Occupying the entire top floor of the boutique Lower North Shore development, the penthouse includes 221 sqm of internal living and a 74 sqm wraparound terrace, with a prized north-facing aspect taking in views across Middle Harbour.

The residence has been completed and fully furnished following a collaboration between Abadeen Executive Chairman Justin Brown and internationally recognised interior designer Jack Freeman, Founder and Managing Director of FREEMAN &amp; CO.

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and Freeman approached the penthouse as a finished home, sourcing furniture, artwork, lighting and objects from Australia and overseas.

[smartcode_project:default project_id=114246 project_image_fid=378718]

Pieces from Parisian design house Pierre Augustin Rose sit alongside contemporary artworks and bespoke lighting, with Freeman drawing on recent visits to PAD Paris and Salone del Mobile Milano for the final collection.

Brown said the aim was to create a penthouse that felt more like a large-scale private home than a traditional apartment.

"The experience begins the moment the lift doors open. You're welcomed into an elegant dining room before the home opens into an extraordinary living space framed by sun-drenched harbour views.

"Every time someone walks through the front door they pause. It's not just the view, it's the incredible sense of space, the warmth created by the northern sunlight that fills the interiors, and the way every room connects so effortlessly.

"It has all the proportions of a luxury home, while delivering the effortless lifestyle and personalised experience of living in a world-class six-star hotel, combined with the simplicity and convenience of apartment living."

[smartcode_project:default project_id=114246 project_image_fid=378713]

A secure lift provides exclusive access to the penthouse level, opening to a dedicated arrival foyer and dining area before the residence expands into its main living and entertaining spaces.

Floor-to-ceiling glazing runs across the northern side of the home, connecting the interiors with the terrace and Middle Harbour outlook.

The penthouse also features a fireplace and substantial chef's kitchen, while the wraparound terrace has been designed to accommodate both everyday outdoor living and larger-scale entertaining.

[smartcode_project:default project_id=114246 project_image_fid=378720]

Freeman said the interiors had been deliberately kept restrained to complement the scale, natural light and outlook already established by the architecture.

"The penthouse is a serene study in quiet luxury," Freeman said.

"The interior pairs soft, sculptural forms with warm timber, pale stone and a restrained neutral palette. Curated artwork and metallic accents add depth, while abundant natural light creates a calm, effortlessly refined atmosphere. In my world, less is always more."

Freeman said the approach was centred around collecting individual pieces rather than simply decorating the apartment.

"Every material, every object and every piece of furniture has been curated with intention. I am a true believer in collecting versus decorating.

"The architecture already provided extraordinary natural light, remarkable volume and an uninterrupted connection to Middle Harbour. Our role was to complement those qualities with unique one-of-a-kind pieces of fine art and collectible design sourced from recent travels around the world."

[smartcode_project:default project_id=114246 project_image_fid=378694]

Among the collection are solid bronze sculptures by Lorenzo Quinn, alongside a curated crystalware collection and pieces sourced from international design fairs.

Park Residences sits opposite Cammeray Golf Club, Cammeray Croquet Club and Grand Slam Tennis Cammeray, around 300 metres from Neutral Bay Village and its established collection of restaurants, cafés and retail.

Brown said the combination of a whole-floor floorplan, northern aspect and proximity to Neutral Bay was becoming increasingly difficult to find on the Lower North Shore.

"Completed whole-floor penthouses with a sun-drenched north-facing aspect and sweeping Middle Harbour views are exceptionally rare," Brown said.

"Add a quiet position opposite golf, croquet and tennis facilities, a level walk to Neutral Bay Village and only minutes to the CBD, and you have a lifestyle that's incredibly difficult to replicate.

"This is a home that offers the privacy and generosity of a luxury residence together with the convenience of one of Sydney's best-connected harbourside locations."

The penthouse will be exclusively marketed by SRM Residential.

[smartcode_project_cta:default project_id=114246]

Joel Robinson

Abadeen unveils penthouse at Park Residences in Cremorne

New Brisbane developer Dalcott has unveiled Marrone, the first of three residential projects it is planning in and around Browning Street in South Brisbane.

<a href="https://www.apartments.com.au/new-apartments/marrone-south-brisbane-39-browning-street-south-brisbane-qld-4101">Marrone</a> will comprise 97 predominantly two- and three-bedroom apartments, with larger residences aimed squarely at the owner-occupier market.

The project will sit in a quiet pocket of South Brisbane between South Bank and West End, close to the restaurants, cultural attractions and riverfront amenity that have driven the suburb's continued transformation.

Dalcott is targeting buyers looking for more space and amenity than has traditionally been offered in the inner-city apartment market, particularly downsizers and professionals wanting to remain close to the city.

[smartcode_project:default project_id=149951 project_image_fid=377072]

Resident facilities will be concentrated around an extensive rooftop amenity offering, including a swimming pool, spa, infrared sauna, warm and cold magnesium plunge pools, private lounge, dining room and outdoor entertaining areas.

Dalcott Managing Director Lachlan Cottee said South Brisbane's combination of lifestyle, connectivity and established character had been central to the approach to Marrone.

“South Brisbane offers a combination of lifestyle, connectivity and character that’s difficult to replicate elsewhere in Brisbane,” Cottee said.

“Our focus has been on creating homes that feel connected to that environment while providing the level of design, functionality and quality that today's owner-occupiers expect.”

The residences will feature an expressive material palette. Italian Calacatta Viola marble, known for its deep burgundy veining, will be paired with aged brass tapware, Chestnut engineered timber flooring and Tuscan Oak joinery.

<img alt="Marrone" data-entity-type="file" data-entity-uuid="b8d833da-3b30-496a-ae30-07bdff371b50" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.35%E2%80%AFAM.png?VersionId=P6DAgOfaQzIXljKKK5j3e5NhWtrHIu9G" />

Bathrooms will feature Nara Japanese ceramics and glass bricks, while clay, walnut and brass lighting will be used throughout the apartments.

Dalcott has appointed Realm Projects, led by Managing Director Shane Foley, to handle sales and marketing following previous sold-out collaborations between the groups.

Foley said the Brisbane apartment buyer had become increasingly focused on the quality of the home itself rather than simply securing an inner-city address.

“We expect to see strong demand from buyers who still want all the advantages of inner-city living but aren’t prepared to compromise on the quality of their home,” Foley said.

“Many will be downsizers looking to leave behind the maintenance of a traditional family home without giving up the space they enjoy, while others are likely to be professionals wanting a residence that reflects the way they live today.”

“Marrone responds directly to that demand, with generous floorplans, exceptional resident amenity and a location that places some of Brisbane’s best dining, entertainment and cultural attractions within walking distance.”

<img alt="Marrone" data-entity-type="file" data-entity-uuid="61f7b22f-899e-4c0f-940a-7d3ab1bfb93a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.44%E2%80%AFAM.png?VersionId=PvN1JYxBgUpyCB7efKo52WGdSDs9nmim" />

Marrone will be the first project delivered as part of Dalcott's broader investment in the precinct.

It will be followed by La Terra, a boutique project comprising penthouse-style, single-level apartments on a northeast corner site with extensive resident amenity and city views.

Cottee said Marrone represented the first stage of the group's longer-term plans for the area.

Dalcott was established in 2025 by Lachlan Cottee and Ben Dalgliesh, combining development and construction capability under an integrated model and focusing on architecturally considered residential projects.

Marrone will initially be offered through a pre-release registration campaign ahead of its broader public launch.

Dalcott targets owner-occupiers with South Brisbane debut Marrone

Parnell Developments is the latest to seek significant uplift through the NSW Government's Housing Delivery Authority on a Strathfield site previously approved for a much smaller apartment development.

Parnell has sought approval for a 32-storey mixed use tower across&nbsp;<a href="https://www.apartments.com.au/new-apartments/7-lyons-street-strathfield-nsw-2135">3-7 Lyons Street and 18 Parnell Street</a>, a&nbsp;1,857 sqm site around 400 metres from Strathfield Station. The building would yield 160 apartments, 15 per cent of which will be dedicated affordable as per the government mandate for buildings seeking additional uplift.

Approved previously was a nine-storey building back in 2022 with just over 30 apartments. That approval came prior to the project being&nbsp;progressively reconsidered as planning policy shifted toward greater density around transport hubs.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="c5af5281-a643-4eb2-b8c4-0081b59c04c7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.16.48%E2%80%AFAM.png?VersionId=37bd3mI7rHNpThOV_75VO8xsGFwWOi1u" />

Turner has designed the latest building that would replace&nbsp;existing detached homes across the four lots.

The apartment mix comprises 22 one-bedroom apartments, 107 two-bedroom and two-bedroom-plus configurations, and 31 apartments with three or more bedrooms. The scheme also includes 203 car spaces across six basement levels and 58 bicycle spaces.

The proposal has been designed around a three-storey podium addressing Lyons Street, with the tower rising above and stepping toward its upper levels.

Turner said the podium was deliberately scaled to respond to the existing street, while the taller element has been designed as part of the emerging skyline anticipated around Strathfield Town Centre and the wider Homebush transport-oriented development precinct.

The Lyons Street frontage would have a more active, pedestrian-focused character, incorporating the commercial tenancy, landscaping and a brick-framed podium with an awning.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="14b20874-b8c3-4ac7-bc03-92be9a69fb78" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.48%E2%80%AFAM.png?VersionId=av.9TxtqIRTC6v3PkSuu1rL9rreWoe2h" />

Parnell Street, which faces the railway corridor, has been given a different architectural treatment, with double-height breeze blocks, landscaping and communal areas used to soften the interface with the rail infrastructure.

The tower itself uses curved and recessed facade elements, with wave-like indentations across the northern elevation breaking the building into three vertical forms.

A palette of grey concrete, brick and breeze blocks is complemented by clay and terracotta accents, while the upper tower adopts a lighter expression through articulated slab edges, vertical fins and recessed glazing.

Residents would have access to 467 sqm of communal open space spread across three levels. The ground floor would accommodate the more active resident areas, including barbecue and group gathering spaces and an internal communal room capable of being used for working from home.

A more passive viewing deck is proposed at level three, overlooking the ground-level landscaping and neighbouring tennis courts, while a rooftop "sunset deck" at level 30 would provide another social and relaxation space.

<img alt="Parnell" data-entity-type="file" data-entity-uuid="c3dce401-a80f-4682-8471-4caa01180880" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.34%E2%80%AFAM.png?VersionId=Xyo8JVqbOhSJXNy6Ih.1cHL.O6i0bGR." />

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Strathfield has been earmarked for substantial change through the Strathfield Town Centre planning work and the nearby Homebush TOD precinct.

Turner's report says the project has been designed to act as a transition between the existing low and mid-rise development surrounding the site and the taller built form expected to emerge across the town centre.

The proposal is being assessed as State Significant Development under the HDA pathway, alongside the concurrent request to amend the Burwood Local Environmental Plan.

First look: New apartment tower pitched for Strathfield Town Centre precinct

An $18 million penthouse has hit the market in Main Beach as construction tops out on La Mer, the $155 million apartment development rising just metres from the beach.

Spanning around 600 sqm across the top two levels of the 29-storey tower on Main Beach Parade, the four-bedroom penthouse is one of the latest eight-figure residences to test the upper end of the Gold Coast apartment market.

Its launch comes amid continued activity at the very top of the market, following the $30 million off-the-plan sale of a Burleigh Heads penthouse earlier this year, which surpassed the Gold Coast's previous $24 million apartment record set in 2023.

The <a href="https://www.apartments.com.au/new-apartments/la-mer-main-beach-3580-main-beach-parade-main-beach-qld-4217">La Mer penthouse</a> has been designed as a private residence in the sky, with 360-degree views spanning the ocean, Broadwater, hinterland and Gold Coast skyline.

[smartcode_project:default project_id=95606 project_image_fid=378731]

All four bedrooms have ensuites, while the ocean-facing master retreat occupies around half of the upper level and includes its own lounge, private balcony, two walk-in wardrobes and an oversized ensuite with a freestanding stone bath positioned to take in the views.

The residence also features a kitchen designed to accommodate a private chef, a 3.6-metre island bench, expansive butler's pantry, wine cellar and integrated bar.

[smartcode_project:default project_id=95606 project_image_fid=378732]

A rooftop pool and substantial outdoor entertaining area with its own kitchen sit above the residence, while a grand staircase connects the two internal levels. The penthouse also has its own express lift.

OTP Group Director James Elliott, who is marketing La Mer, said the penthouse was expected to appeal to high-net-worth buyers seeking either a permanent Main Beach residence or Gold Coast holiday home.

“The La Mer penthouse represents exceptional value, considering its quality design, size, privacy and location, not to mention the 360-degree views capturing the beach and Gold Coast Broadwater,” Elliott said.

“We’re anticipating interest from high-net-worth individuals and couples seeking a residence or holiday home in the sought-after village enclave of Main Beach, taking advantage of the unprecedented growth underway in the area and neighbouring The Spit.”

[smartcode_project:default project_id=95606 project_image_fid=378736]

La Mer is being developed by developer-builder ODUS and Nazero, in partnership with funder Metrics Credit Partners.

ODUS Director Byron Sakha said topping out the tower had provided the opportunity to release the project's most significant residence.

“We’ve worked with internationally-recognised studio Sici Design on the penthouse interiors, with a focus on ensuring it isn’t luxury for luxury’s sake. Every element has been thoughtfully designed to enhance quality of life for those who call it home,” Sakha said.

“The views are the hero of virtually every space, but we’ve given equal attention to the fittings and finishes, so every detail exudes elegance and refinement.”

Sici Design Founder and Director Maria Papadopoulos said the extensive views became an integral part of the interior design rather than simply something the residence was designed around.

“The views weren't something we designed around, they became part of the design itself, with the true luxury of La Mer in its feeling of peace, calm and wellbeing,” Papadopoulos said.

“Luxury isn't defined by how something looks, but how it makes you feel, and we believe a luxurious home should be beautiful to live in, not stressful to maintain.”

The interiors combine Austral Dream Dolomite natural stone and travertine with timber flooring and a restrained coastal palette.

[smartcode_project:default project_id=95606 project_image_fid=378734]

Designed by Plus Studio, La Mer is one of the more boutique additions to the rapidly changing Main Beach apartment market.

The tower comprises just 24 full-floor, three-bedroom plus multipurpose room apartments below the two-level penthouse, giving the project a considerably lower density than many of the larger towers being developed across the Gold Coast.

Residents will have access to a pool and spa, gym, sauna, barbecue facilities, private sun lounges, yoga lawn and outdoor beach shower.

The penthouse has been released as part of the final collection of residences at La Mer, with remaining apartments priced from $4.3 million.

Construction is expected to complete later this year, with a fully furnished display apartment now open on level four.

[smartcode_project_cta:default project_id=95606]

ODUS releases $18 million penthouse crowning La Mer Main Beach

<a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a> is preparing to commence construction on <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> this October, marking the next milestone for the Melbourne CBD development and its higher-end Eliza Collection.

Spanning levels 44 to 68 of the 68-storey <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed tower, the Eliza Collection has been conceived as a lower-density offering within the broader development, with only five apartments on each floor, dedicated lift access and a collection of resident spaces reserved exclusively for Eliza Collection residents.

The Eliza Collection forms part of Far East Consortium's broader move toward larger-format residences at 640 Bourke Street, where the number of apartments was reduced from earlier plans as apartment sizes increased.

[smartcode_project:default project_id=509 project_image_fid=365685]

"What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Far East Consortium Director of Sales and Marketing Lauren Sheldon said.

Rothelowman Associate Jun Chang said the design process provided an opportunity to create more generous floorplans.

"We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."

[smartcode_project:default project_id=509 project_image_fid=368869]

That thinking carries through to the Eliza Collection, where the residences have been designed around the space and functionality associated with a larger home, but positioned high above the centre of Melbourne.

Kitchens are equipped with Gaggenau appliances, a butler's pantry, temperature-controlled wine cabinet and sculptural pendant lighting, while engineered timber flooring, stone and porcelain finishes and custom cabinetry feature throughout the broader interiors.

Privacy and security are another point of distinction. Eliza Collection residents have dedicated lift access, while 640 Bourke Street will provide concierge services and secure resident parking. Short-stay accommodation, including Airbnb, will not be permitted within the development.

[smartcode_project:default project_id=509 project_image_fid=365689]

Eliza Collection residents will also have exclusive access to selected amenity spaces across levels one and three of the restored Eliza Tinsley building. These include the Salon with grand piano, an art therapy room, private dining rooms and treatment rooms.

They sit within more than 3,000 sqm of amenity planned across 640 Bourke Street, alongside facilities including a pool, gym, whisky lounge and further social and wellness spaces.

The Eliza Tinsley building itself is central to the wider project's identity. Rather than treating the existing Eliza Tinsley façade as a separate element, Rothelowman used it as a starting point for the architecture of the new tower, with the historic building to accommodate the project's gallery and lobby.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

[smartcode_project:default project_id=509 project_image_fid=368872]

The tower will rise behind the retained heritage building at 640 Bourke Street, placing residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market and the Docklands waterfront.

With construction scheduled to begin in October, Far East Consortium has established an onsite display gallery at 640 Bourke Street, including fully built apartments that allow the project's layouts, materials and finishes to be inspected at full scale.

A fully built Eliza Collection apartment is also available to view at the display suite by appointment ahead of the planned October construction commencement.

Eligible purchasers who buy before construction commences can secure the full available off-the-plan stamp duty savings, subject to eligibility and applicable conditions.

[smartcode_project_cta:default project_id=509]

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