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The RBA cash rate decision came out at 2.30 today with the decision to hold rates. The bank's last move saw it go to 2 per cent at the May 2015 meeting.
Today’s decision to keep the cash rate unchanged came as no surprise.
Mortgage Choice chief executive officer John Flavell said today’s decision by the Board was ‘unsurprising’.
Tim Lawless, CoreLogic RP Data head of research, said there were plenty of reasons why the RBA may have contemplated cutting the cash rate today.
He noted however the housing market was playing out exactly as the RBA probably would have hoped:  losing steam without a collapse in values. 
"The last three months have seen capital city dwelling values drift 0.6% lower and capital city home values are up by only 0.7% over the past six months."
"The RBA probably doesn’t need to worry too much about over stimulating the housing market via another rate cut; mortgage rates are already higher than a year ago due to the higher capital requirements implemented by APRA and the pace of investment growth has fallen below APRA’s 10% speed limit imposed in December 2014.  
"With heat in the housing market no longer likely to be a major concern for the RBA, a major obstacle has been removed from preventing rate cuts and we may see the cash rate move lower later in the year," Lawless said.
Laing+Simmons managing director Leanne Pilkington said she hoped the banks follow the RBA’s lead and keep their rates steady too.
“Certainly there’s no genuine impetus for the majors to move independently, aside from greed,” she said.
 
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RBA holds interest rates at 2 percent at February 2016 meeting

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Property investors have been urged to conduct an annual property portfolio review to make sure they are getting the most from their property investment.
The financial services company Direct Property Network has posted a four stage procedure to ensure all portfolios are kept running like a "well-oiled machine".
Access further equity
One of the most advantageous features of investing in property is the fact that it's a direct route into further real estate investment. The equity you hold in your portfolio can be leveraged to borrow for another property, further growing this equity and continuing the cycle. By conducting an annual portfolio review, you'll know if you've built up sufficient equity in one or more of your assets in order to purchase another property, and can start putting your plans into motion.
Restructure your portfolio
Even if your portfolio as a whole is doing well, that doesn't mean every single property is performing to your preferred standard. One or more properties could be seeing stalled or even stagnating value growth, while others might not be delivering the same kind of rental revenue as they were before. Through an annual review, you'll be able to identify any potential issues before they become bigger problems, and gain insight into which properties you need to sell. 
Revise your finance
Any mortgage expert will tell you about the usefulness of re-examining your financial structuring. Refinancing a home loan to take advantage of recent interest rate cuts, for instance, can save you thousands of dollars. You can also restructure a mortgage to insulate yourself from changes in your financial circumstances, such as by splitting your home loan between a fixed and variable rate. The ultimate goal is to make sure your rental income continues to offset the expense of your own home mortgage, so incorporate this into your annual portfolio review.
Ensure you're on track
No one should start building a portfolio without a cohesive property investment plan in place. This plan should be based on a concrete goal or aim that you want to achieve through investing - saving for retirement, for instance, or making enough to open and run a particular business. Your annual review will let you see if you're still on track for meeting this goal and if not, why and how you can change course. If your goal was more tentative when you began, then this could be an opportunity to clarify it. 
No matter the reason you decide to start reviewing your portfolio on an annual basis, be sure to work with experienced professionals. Not only can they help you determine the next course of action to take, but they can also use their industry knowledge to measure and identify the true performance of your portfolio - often easier said than done.
For more information, <a href="https://www.directpropertynetwork.com.au" target="_blank">click here</a>.
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Property 101: Top 4 reasons you need to carry out an annual portfolio review

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<h3>The RBA shadow group suggest that despite the turmoil in global markets, a rate hold is still the best policy.</h3>
People who invested in shares have not had a good start to the new year.
Global stock markets have seen falls of more than 15 percent in some places as investors worry about slow growth in China.
The Australian share market losses are slightly more modest but the Australian dollar has been caught in the maelstrom, temporarily trading as low as 69 US¢.
Unemployment is steady, while inflation in the December quarter edged up to 1.7 percent, from 1.5 percent in the previous quarter and remains below the RBA's target band of 2-3 percent.
Latest figures estimate GDP growth at 2.5% annualized, a slight improvement over the previous quarter.
 
What the CAMA RBA Shadow Board believe
 
The CAMA RBA Shadow Board on balance prefers to keep the cash rate on hold, attaching a 69% probability to this being the appropriate policy setting.
The confidence attached to a required rate cut equals 17%, down five percentage points from the previous month, while the confidence in a required rate hike has risen to 14%.
Australia’s unemployment, according to the Australian Bureau of Statistics, is steady at 5.8%.
Employment has barely budged, though there has been an increase in full-time employment accompanied by an offsetting decrease in part-time employment.
Even though the participation rate is down to 65.1%, the labour market, at least for moment, appears robust.
After pausing around the 72 US¢ for some time, the Aussie dollar has depreciated further, briefly falling to as low as 69 US¢.
It now trades above 70 US¢ again. A further weakening of the international and domestic economies may see the Aussie dollar decline further.
Yields on Australian 10-year government bonds have fallen again, most recently to 2.69%, pointing to weakness in the Australian economy.
Globally, the economic outlook is weakening. Even though the US Federal Reserve raised the federal funds rate during its last FOMC meeting of 2015, the rest of the world is teetering.
Global share markets, led by China, suffered big losses in the opening weeks of the new year.
Increasingly cracks are showing in emerging market economies, following excessive debt levels and plummeting commodity prices.
Consequently, an estimated $740 billion (net) flowed out of emerging markets in 2015, most of it leaving China.
Further capital flight is likely, and there is a genuine risk that some countries and some financial institutions will be in serious financial difficulties.
Overall, global growth is likely to be sluggish, a view shared by the International Monetary Fund, which recently dropped its growth forecast for the world in 2016 from 3.6% to 3.4%.
Consumer and producer sentiment measures are pointing South.
The Westpac/Melbourne Institute Consumer Sentiment Index fell from 101 in December 2015 to 97.3 in January.
Business confidence, according to the NAB business survey, after a brief blip up, fell again from 5 to 3.
The AIG manufacturing and services indices, leading economic indicators, both fell.
The Shadow Board’s confidence that the cash rate should remain at its current level increased marginally, from 67% in December to 69%.
The confidence that a rate cut is appropriate has dropped for the second time in a row and now equals 17% (22% in December); the confidence that a rate increase, to 2.25% or higher, is necessary has risen to 14% (11% in December).
The probabilities at longer horizons are as follows: 6 months out, the estimated probability that the cash rate should remain at 2% is nearly unchanged at 24% (23% in December).
The estimated need for an interest rate increase is unchanged at 60%, while the need for a rate decrease has slipped to 16% (17% in December).
A year out, the Shadow Board members’ confidence that the cash rate should be held steady edged up a percentage point, from 18% to 19%, while the confidence in a required cash rate increase equals 66% (67% in December) and in a required cash rate decrease 16% (unchanged from December).
To access the comments made by the RBA Shadow board <a href="https://cama.crawford.anu.edu.au/sites/default/files/outcome/attachments/2016-01/shadow_board_comments_february2016.pdf" target="_blank">click here</a>
 
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Turmoil in global markets causing headaches: RBA Shadow Board

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South Australia now has some of the strongest protections in the nation for victims of domestic violence who are renting their homes, under new laws coming into effect today.
Minister for Business Services and Consumers Susan Close said the amendments to the Residential Tenancies Act would help people leave violent relationships by making it easier for them to break rental agreements which might previously have prevented them from leaving an abusive partner.
“Everyone has the right to feel safe and live free from violence and the safety of people who are experiencing, or who fear domestic violence, is critically important,” Dr Close said.
“These changes will allow victims to terminate leases on rental properties they share with abusive partners - without facing further financial penalties.
“Until now, laws did not allow victims who leave a rental property to take their name off a joint lease without the consent of the other tenant.
“Furthermore, victims were liable for damage caused to a property by an abusive partner, even after they had fled for their safety or the safety of their children.”
Changes coming into effect today include:
• Recognising domestic violence in South Australian tenancy legalisation.
• Allowing victims to either continue in the tenancy without the perpetrator, leave the tenancy and no longer be liable for the premises, or terminate the tenancy altogether.
• Empowering the South Australian Civil and Administrative Tribunal to determine that one or more, but not all, co-tenants are liable for compensation to the landlord.
• Prohibiting a victim’s personal information being listed on a Residential Tenancy Database where it is determined domestic violence has occurred.
“One in six Australian women has experienced physical or sexual assault by a current or former partner. For more than 60 percent of women who had experienced physical assault by a male perpetrator, the most recent incident was in their home,” Dr Close said.
“We want to ensure victims feel confident there are protections in place so they don’t face further disadvantage if they decide to leave a hostile environment.”
The State Government worked closely in preparing the amendments with victim groups and crisis services, SAPOL, the Real Estate Institute of South Australia, landlords, property owners and other government agencies such as Housing SA. 
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Property 101: SA domestic violence victims rental protection reform

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CoreLogic RP Data's senior research analyst Cameron Kusher has weighed into the Sydney property market decline debate through his twitter <a href="https://twitter.com/cmkusher" target="_blank">@cmkusher</a> by asking, why exactly is the fact that Sydney house prices are allegedly not booming any more a bad thing?
Sydney house prices have recorded a sharp decline over the last quarter with the fall marking the end of the Sydney property boom, according to figures released recently by Domain.com.au. 
Despite the property boom ending, Sydney and Melbourne are set to reclaim some of the losses record over the final quarter of 2015, according to CoreLogic RP Data's head of research Tim Lawless.
In preparation for the announcement on Monday, Lawless said Sydney will bounce half a percent higher over the first 27 days of January while dwelling values in Melbourne are likely to increase by around 2 percent by the months end.
He said that the month to date performance will help to offset the 2.3% fall in Sydney values recorded over the December quarter, while the higher growth rate in Melbourne should bring Australia’s second largest city back into positive growth territory on a rolling quarterly basis.
Although there will be higher index readings across the largest cities, Tim suggests it's likely that housing market conditions will track lower than what we saw over 2015.
Property Observer will keep you up to date with the home value index when it is released on Monday.
 
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Tweet of the day: Cameron Kusher on Sydney's possible bust 

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China’s slower growth figures have caused jitters in world financial markets. Nevertheless its growth remains at miracle levels. At this pace, China would appear to remain on track to become the richest and most powerful country in the world, bar none.
In a scenario where Chinese “miracle” growth continues around 5-6% for three decades and gradually slows to the average world growth rate, the average Chinese citizen would be as wealthy as the average American.
But ongoing Chinese growth miracle seems an unlikely outcome, when compared to the history of emerging economies. Instead, it is likely China will have to grapple with what is called the “middle income trap”. This is because China’s income level is currently at a level where many countries seem to stagnate.
<h2>The middle income trap</h2>
An example of this can be seen in the figure which charts per capita income for China, Turkey and Brazil as a percentage of the United States. It shows that, despite its remarkable growth, China’s income gap with the US has only reached the level that Brazil and Turkey had already achieved by the 1970s.
<a href="/images/2016/01/29/image-20160127-26778-1nykof.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/01/29/image-20160127-26778-1nykof.jpg" alt="">
Moreover it can be seen that, since the 1970s, Brazil and Turkey made practically no further ground in closing the gap with the US.
According to a 2012 World Bank report, this slow growth pattern is typical of middle income countries. Specifically, of 101 countries that were “middle income” in 1960, only 13 broke through the middle income band to become rich countries.
Thus, based on history there is a reasonable concern that China’s growth will slow to an extent that it stops catching up with the West. China would then begin to look like like Brazil or Turkey in the sense that per capita income remains well below Western levels and there is a constant threat of political and economic instability.
<h2>Causes of the middle income trap</h2>
Unfortunately we don’t know very much at all about why there appears to be a middle income trap.
The authors of the World Bank study who coined the term suggested it was due to rising wage costs that make exports less competitive.
It is true that wage increases can hurt some export sectors, but market forces prevent this happening for the economy as a whole. Thus wage growth cannot reduce an economy’s overall competitiveness.
Other explanations suggest the middle income trap results from too much investment in physical infrastructure at the expense of education and skills. Alternatively it could be a result of political failure.
But these are only descriptions of the symptoms – they don’t tell why so many countries have political failures or why so many countries over-invest in physical capital.
So while there are many descriptions of the middle income trap, there is no clear theory and hence there are no testable propositions. It remains an elusive statistical fact.
<h2>Traps versus bad luck and bad policy</h2>
The lack of a clear view about the causes of a middle income trap makes it difficult to know whether it is a pattern likely to continue in the future. In a recent study, therefore, we tried to get a better sense of the predictability of a middle income trap from a purely statistical viewpoint.
For example if, for any reason, a country was unable to change its growth rate, the growth rate would exhibit persistence over time. That is, if things got better by chance one year, there would be some market or political force that brings things back to trend.
Alternatively if some countries simply had a run of bad luck, or made some big policy mistakes, there may be little persistence in the data. The growth rate might display some randomness from one year to the next.
We therefore tested to see whether we could reject the hypothesis that the path of per capita income had followed a random trend for 47 middle income countries.
Thus in the previous figure one can see that there is apparently very little difference in the trend path of Brazil and Turkey – they have similar growth rates and growth variance. But, in fact, the statistical tests show that Turkey’s growth rate has persistence, but Brazil’s growth rate is random.
So despite the visual similarity, Brazil and Turkey have very different statistical properties.
We found that only seven countries show evidence of a persistent trend toward staying stuck in the middle like Turkey.
Of the rest of the countries, half had a trend that was random like Brazil. For most countries there was no evidence of a persistent trend toward the middle income band.
So only very few countries’ per capita income time paths are consistent with the pattern that we would expect to see if they were constrained to their current relative income level.
Although these results are descriptive, they could be taken as evidence against a structural reason for a middle income trap. That is, perhaps what appears to be a pattern of behaviour across many countries, is just the way things panned out.
So despite the bleak historical record, maybe good statesmanship, market friendly policies and bit of luck are all that is needed to sustain growth.
For China therefore, as a middle income country, the historical odds are against replicating the Japanese or South Korean economic miracle. Thankfully, however, the past need not be a good predictor of the future.
 
Peter Robertson is professor, University of Western Australia and can be contacted <a href="https://theconversation.com/profiles/peter-robertson-11950" target="_blank">here</a>.
Longfeng Ye is assistant researcher, University of Western Australia and can be contacted <a href="https://theconversation.com/profiles/longfeng-ye-221938" target="_blank">here</a>.
Both are authors for The Conversation.
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China's greatest challenge becoming rich and escaping the middle income trap

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The Sydney property boom of the past three years is over, with the harbour city now reporting a sharp decline in house prices over the last quarter. All other Australian capital cities have reported moderate to strong house price growth, except Perth and Darwin which both experienced weakening market activity  The key findings of the Domain.com.au December Rental Report are: 
<ul>
<li>Record drop in Sydney median house prices over the December quarter </li>
<li>Melbourne and Canberra record highest annual house price growth since 2009  </li>
<li>Adelaide, Hobart and Brisbane record stronger house price growth  </li>
<li>House price falls in Perth steadying, while Darwin housing market remains weak </li>
</ul>
Commenting on the report, Domain Senior Economist Dr Andrew Wilson, said:  “The higher mortgage interest rates initiated mid-year by financial regulators for both investors and owner-occupiers have demolished the previous booming markets of Sydney and Melbourne, whilst house prices continued to fall in Perth and Darwin as a consequence of the slowdown in the mining sector. “Other capital city markets, however, are now recording solid results, reflecting improving local economies and restored market confidence.” Sydney  Sydney median house prices fell by a dramatic 3.1 per cent over the December quarter – the first fall since June 2012 and the sharpest quarterly decline in house prices reported by the city on record. Despite the record fall over the December quarter, Sydney house prices increased by 14.8 per cent over 2015. Sydney’s median unit prices also fell steeply over the December quarter, dropping by 2.8 per cent to $655,845. It’s the first quarterly fall since March 2013 and again, the sharpest decline on record. However across the year, Sydney unit prices increased by 8.7 per cent. “The remarkable Sydney boom we’ve seen over the last three years is now clearly over, with the market unlikely to record any notable house prices growth until at least spring. While the median house price still remains above $1 million (at $1,013,258), if current trends continue it will likely fall below this benchmark by mid-year,” said Domain Senior Economist, Dr Andrew Wilson.  Melbourne  The Melbourne median house price increased by 1.8 per cent over the December quarter, recording an annual growth of 14.5 per cent over 2015 – the highest annual result recorded by the city since the 2009 boom and reaching only 0.3 per cent behind Sydney. Melbourne unit prices increased by 1.3 per cent over the December quarter to $446,046 for an annual increase of 2.4 per cent. While a positive result overall, the annual percentage growth was considerably below the previous year’s result of 5.2 per cent.  “It’s good news for Melbourne home owners, with the city recording its highest annual growth since 2009. While quarterly growth rates have weakened sharply, the end-of-year results remained positive as local supply and demand drivers remain robust. Melbourne recorded a median house price of $719,486 over the quarter to remain the second highest priced capital city housing market, behind Sydney,” said Domain Senior Economist, Dr Andrew Wilson. Brisbane  Brisbane house prices bounced back over the December quarter with the median house price increasing by 1.5 per cent to reach $511,361– up on the 0.7 per cent recorded over the previous quarter and the highest result for the year.  Brisbane unit prices fell again over the December quarter down by 1.1 per cent to $359,965.  Local unit prices were down by 5.3 per cent over 2015 – the sharpest decline in annual prices since 2000 – 15 years ago.  “It’s a positive result for Brisbane house owners, with the median house price recording its highest quarterly growth for the year.  “Unfortunately for unit owners, the record levels of new apartments continue to impact the Brisbane unit market, with supply clearly pushing ahead of demand. This has contributed to a fall in unit prices across the city,” said Domain Senior Economist, Dr Andrew Wilson. Adelaide The Adelaide housing market reported another solid result over the December quarter with the median house price increasing by 1.8 per cent to $494,284. The Adelaide median house price increased by 6.7 per cent over 2015, its best annual result since 2007.  Adelaide unit prices increased strongly by 3.0 per cent over the December quarter to $310,090. Unit prices rose by 5.2 per cent over the year - the highest annual growth rate since 2008. “It’s a positive story for Adelaide home owners with the city recording  five consecutive quarters of house price growth for the first time since the boom period of 2010. With growth continuing at it’s current pace it is highly likely that the median house price will break through $500,000 by mid-year,”  said Domain Senior Economist, Dr Andrew Wilson. Perth Perth house prices have been declining for four consecutive quarters but there may be some relief in sight, with the decline recorded this quarter at a marginal  0.8 per cent, for a median price of $585,369. The Perth median house price is now the lowest recorded by the city since the March quarter 2013, with prices falling by 4.5 per cent over 2015 – the sharpest annual decline since 2008. Perth unit prices rebounded over the December quarter rising by 1.5 per cent to a median of $388,834. Similar to house prices, Perth unit prices fell by 5.0 per cent over 2015 – the sharpest annual decline since 2011. “Although Perth’s median house price continues to fall as a result of the declining mining sector, it’s not all bad news. There are early signs suggesting that the rate of decline is moderating, as affordability improves and confidence recovers,” said Domain Senior Economist, Dr Andrew Wilson. Hobart Hobart house prices increased strongly over the December quarter — up by 7.9 per cent to a median of $359,837 – the highest quarterly growth rate for over a decade. The December surge in house prices has resulted in an increase of 8.7 per cent over 2015 — the highest annual result for the local market since 2009.  Although Hobart unit prices fell by 3.3 per cent over the December quarter, they increased by 7.1 per cent over 2015 to a median of $268,401.  “The Hobart housing market delivered a strong result in the December quarter, especially given Hobart house prices have increased by just 5.8 per cent over the past 5 years. This indicates further potential for growth as the local economy improves and positive consumer sentiment builds,” said Domain Senior Economist, Dr Andrew Wilson.  Canberra Canberra’s median house price increased by 4.3 per cent over the December quarter to $652,307 – its highest quarterly growth rate since December 2009. It’s a great result for the capital’s housing market, which has seen a median house price increase of  9.0 per cent overall in 2015. The Canberra unit market also experienced positive growth recording a modest increase of 0.8 per cent over the December quarter to reach a median unit price of $405,110. Despite December’s small rise, Canberra median unit prices fell by 2.2 per cent over 2015.  “A really good story in Canberra this quarter, with the local market continuing to rise after a subdued period of buyer activity. Canberra’s house price growth of 9.0 per cent over the year is behind only that of the Sydney and Melbourne markets and is the best local annual result since 2009. “The fall of unit prices across 2015 demonstrates the high levels of new apartment construction predictably moving supply ahead of demand in the Canberra market,” said Domain Senior Economist, Dr Andrew Wilson.  Darwin Darwin house prices fell again over the December quarter, dropping by 2.0 per cent to reach $636,854.  Despite recent sharp falls, the Darwin median house price has fallen by just 1.0 per cent over the past year, an improvement on the previous year’s decline of 5.4 per cent. Darwin unit prices fell slightly over the December quarter — down by 0.4 per cent to reach a median of $407,132. Unit prices decreased by 2.0 per cent over 2015 which was an improvement on the previous year’s fall of 6.5 per cent.  “While the local economy remains strong, the Darwin housing market continues to be impacted by the decline in the resource economy and the end to the significant demand driver of the fly-in-fly-out mining workforce. Darwin unit prices are now the lowest since June 2012, reflecting the oversupply from record levels of apartment construction,” said Domain Senior Economist, Dr Andrew Wilson. 
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Melbourne almost overtakes as Sydney's three-year property boom is over: Domain's House Price Report

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Noma Australia is officially open.... and booked out.
The restaurant design has been unveiled by the developer Lendlease with key elements of the interior including a floor of red earth, two native Australian Xanthorrhoea trees and woven pieces by indigenous artisans.
With a kitchen fitted out to the highest specification,ï¿½Lendlease has partnered with Tourism Australia to bring Noma Australia to Barangaroo Sydney.ï¿½The cost of the menu was $485 per diner. <img src="/images/2016/01/27/IMG_5183.jpg" alt="" width="1469" height="1392"> 
The restaurant is located in Barangarooï¿½s Anadara building, with floor to ceiling curved glass windows and views of the harbourfront.ï¿½
Noma Australia spans over 500 square metres at ground level with dining room, outdoor lounge area and an extensive kitchen and prep area.
The kitchen remains entirely open to the entry and dining areas, allowing guests to move past the Noma chefs as they work.
Head of Retail Development and Asset Management for Lendlease, Gary Horwitz said that Lendlease prides itself on working with the best local and global retailers, and opening Noma at Barangaroo was just the beginning for Australiaï¿½s most exciting new food and beverage precinct.
ï¿½The restaurant that Lendlease has delivered for Noma Australia is breathtaking, acknowledging the designers, Foolscap Studios.ï¿½
Head chef Renï¿½ï¿½Redzepi said that being at Barangaroo has reminded him of Noma in Copenhagen, in terms of being on the harbour and the proximity to the water.ï¿½
Upon completion Barangaroo will be homeï¿½to up to 90 retailers ï¿½ mostly food and beverage ï¿½ from the smallest laneway bars and canteens, to grand spaces on the harbour including Matt Moranï¿½s three level restaurant and bar.
It was last July whenï¿½Rene Redzepiï¿½s pop-up NOMAï¿½eatery on the Barangaroo waterfront was revealed.
Briefly closing his Danish restaurant, the antipodean NOMA at Barangaroo will last for just 10 weeks.ï¿½Noma is the four-time winner of the The World's 50 Best Restaurants. 
<img src="/images/2016/01/27/CZm8j2-WcAAyRXS.jpg-small.jpeg" alt="">
ï¿½
Noma's current menu below:
ï¿½
ï¿½ Unripe macadamia and spanner crab
ï¿½ Wild seasonal berries flavoured with gubinge
ï¿½ Porridge of golden and desert oak wattleseed with saltbush
ï¿½ Seafood platter and crocodile fat
ï¿½ W.A deep sea snow crab and cured egg yolk
ï¿½ A pie with dried scallops and lantana flowers
ï¿½ BBQï¿½d milk ï¿½dumplingï¿½
ï¿½ Marron and magpie goose
ï¿½ Sea urchin &amp; tomato dried with pepper berries
ï¿½ Abalone schnitzel and bush condiments
ï¿½ Marinated fresh fruit
ï¿½ Rum lamington
ï¿½ Peanut milk and freekeh ï¿½Baytimeï¿½
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Inside Noma Australia, the newest Barangaroo restaurant

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It was a catamaran that make the biggest splash at the Ray White Surfers Paradise’s mega-auction event yesterday topping the sales list when sold at $3.1 million.
Currently moored in Perth, the boat Onde was secured by a Gold Coast buyer through Ray White Marine.
The seller was understood to be interests associated with Denby Roberts, the only daughter of late Multiplex founder John Roberts.
The 2005 vessel had an extensive luxury refit in 2010, Onde features seven double cabins all with en suite bathrooms.
With an open plan layout and a huge 8.5 metre beam, the main deck offers expansive indoor and outdoor spaces all with fabulous lounge and dining settings for guests.
The galley was built to accommodate all applications including private cruising as well as corporate or luxury chartering for up to 47 passengers.  Equipped with twin 3406E Caterpiller diesel engine, large generators and fuel and water tanks, Onde has an economical cruise of 10 to 12 knots and long range cruising capabilities. 
Ray White publicised the deal through their twitter handle <a href="https://twitter.com/RayWhiteSurfers" target="_blank">@RayWhiteSurfers</a>.
<a href="/images/2016/01/25/Screen%20Shot%202016-01-25%20at%209.27.48%20am.png" target="_blank">Click here to enlarge</a>
<img src="/images/2016/01/25/Screen%20Shot%202016-01-25%20at%209.27.48%20am.png" alt="" width="393" height="312"> 
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Tweet of the day: Boat sale tops The Event sales at $3.1 million

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GUEST OBSERVER
I hate to use the phrase but I love the Gold Coast lifestyle.
Not in any particular order but from the lack of traffic chaos, the awesome climate and the wonderful coastline, stunning hinterland and great places to eat.
The geography, location and natural landscape are right.
Nobby Beach is a family favourite, I love Burleigh and Currumbin beaches.
Inland you can’t beat time at Tamborine Mountain or Springbrook.
Then there is Paradise Point, Main Beach and The Spit, not forgetting the whole of the Broadwater/Jumpinpin and the place my family chooses to call home, Sanctuary Cove.
There’s great places to eat all over the coast now, some of the people aren’t bad either. 
For an area that started its growth in the 1960s/70s/80s so much of the architecture, let’s be honest, is pretty awful.
Luckily the past 15 years or so has seen real improvements in architectural styles whether it is an apartment building, single homes or the emerging townhouse/terrace type housing.
The Gold Coast grew from virtually nothing to over half-a-million in only four or five decades. This was fuelled by tourism, holiday homes and overseas home buyers and retirees.
Suddenly we have this substantial population — sixth in the country and no core industries or major sources of employment other than tourism which is great when the dollar is weaker as it is now, but that can create an almost never ending cycle of good and bad times.
Yes, boat building is back, but that again is an industry with highs and lows, so is construction. We need back-up plans for the inevitable quiet times of the future.
A hard task and I cannot offer any real solutions, but here is something political — sorry to the ‘no’ campaigners regarding the cruse ship terminal, but the latest offshore proposal to me is fantastic and an absolute must.
There is no doubt and it is very easy to define a market in recovery mode.
You review homes that sold at peak prices in previous years — that price then became unachievable for many years.
Only when the value of that same home has reached that former peak and moved slightly ahead can you be sure you are in recovery mode.
Right now across the Coast there are many homeowners that will happily confirm this.
So will we see growth? I believe so.
There’s good times ahead.
Andrew Winter writes columns for the News Ltd papers on real estate, with the <a href="https://www.goldcoastbulletin.com.au/news/gold-coast/property-guru-andrew-winter-says-good-things-are-in-store-for-the-coast/news-story/87f5d24957cf797287434d1400f45330" target="_blank" style="line-height: 1.3em;">comments taken from questions posed by the Gold Coast Bulletin on January 2</a>.
Andrew Winter is presenter, <a href="https://www.lifestyle.com.au/tv/selling-houses-australia/" target="_blank">Selling Houses Australia</a> presenter.
Andrew Winter says he's obsessed with houses. With 25 years experience in the property trade, he believes that if you haven’t sold your house within two months then you’re doing something wrong.
Starting his career in a real estate agency at the tender age of 17, Andrew sold his first home within a matter of months. He then went on to spend some years with a firm of Chartered Surveyors fine tuning his house selling skills, but combining it with inside knowledge of construction, structural issues, building faults and problems.
To further expand his career he made the move to Central London where he sold apartments and townhouses in the famous Baker Street and Regents Park areas. Whilst selling properties in the redeveloped Canary Wharf area in London and Kent, his career gained an added angle – he was chosen to present and research a new TV program about his favourite subject “Selling Houses”. Over the last eleven years the program has gone from strength to strength both in the United Kingdom, Australia and other countries worldwide.
Andrew and his family moved to Australia in 2005. 
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There's good times ahead: Andrew Winter

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.

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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.

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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.

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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.

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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.

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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.

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"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.

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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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