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An oceanfront residence in Hastings Point, NSW has been sold at a record price for the postcode prior to auction. 
The four bedroom, two bathroom house at <a href="https://www.realestate.com.au/property-house-nsw-hastings+point-134239842" target="_blank">2 Peninsula Street </a>was sold for $4.45 million to Australian expats living in Hong Kong who inspected via FaceTime. 
It was sold by Dominique Vasers Williams from Queensland Sotheby's International Realty Main Beach. 
In the 1960s it was a beach shack. The current owners bought the property in the late 1990s and built a home designed by architect Scott Carpenter
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/9/7/hastings%20point%202.jpg" alt="">
The home was an RAIA Architectural Award NSW winner in 2007. 
The 382sqm home comes with two-storey foyer and timber-tread staircase connecting two levels. 
The second level offers main living areas, kitchen and parents' retreat. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/9/7/hastings%20point%203.jpg" alt="">
The ground level consists of three bedrooms, family-style bathroom, second living area, laundry and anteroom. 
The home also features fireplace, motorised exterior blind system, security system and landscaped grounds. 
Nestled on 1,644sqm, it's literally seconds to the beach. 
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j.ballantyne1990-6AQqhLzZaK

Hastings Point beachfront trophy home sold for $4.45 million

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The Reserve Bank has left the cash rate on hold today at 0.25 per cent but has left the door open to a future cut.
While home-owners won’t be getting an RBA cut from their bank this month, they can still save thousands by refinancing.
New figures released by the RBA today show the average existing mortgage holder had a home loan rate of 3.19 per cent in August, yet new owner-occupier customers were offered, on average, a rate of just 2.69 per cent.
RateCity.com.au database
<ul type="disc">
<li>Lowest variable rate is 1.89%</li>
<li>Lowest big four bank variable rate is 2.19% (Westpac, intro rate for 2 years, reverts to 2.69%)</li>
<li>87 lenders have at least one fixed or variable rate below 2.50%</li>
<li>12 lenders have at least one fixed or variable rate below 2%</li>
</ul>
RateCity.com.au analysis shows the average owner-occupier would pay $33 less a month with a 0.15 per cent rate cut, but if they refinanced to the RBA average new customer rate their monthly repayments could drop three times as much.
RateCity.com.au research director, Sally Tindall, said mortgage holders don’t need to wait around for the RBA to save money.
“While home-owners didn’t get any reprieve from the RBA this month, they can still make significant savings by shopping around."
“If you’re fortunate enough to still have your regular income and a decent amount of equity in your home, you’re in prime position to capitalise on the refinancing boom."
“According to RBA data, the average existing home loan customer is on a rate that’s half a percent higher than a new customer."
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RBA holds but home-owners can triple savings by refinancing: RateCity

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EXPERT OBSERVER
While some believe that mortgage stress will have a major negative impact on the housing market, deferrals are now clearly in decline, and Australia’s high level of loan repayment deferrals is unlikely to prevent a housing market rebound in 2021, according to Pete Wargent, co-founder of BuyerBuyers.com.au.
APRA’s latest figures reported housing loan deferrals decreased to $167 billion in July from a total $1.8 trillion loan book for authorised deposit-taking institutions (ADIs), representing about 9 per cent of loans still subject to housing loan deferrals.  
Mr Wargent of BuyersBuyers.com.au said that “there is a significant ongoing improvement underway, although clearly 9 per cent of loans subject deferral is still an elevated number, and significantly higher than what would be considered a typical figure for mortgages in arrears”.
Even in Melbourne, Mr. Wargent said, consumer confidence has increased recently as demonstrated by Victorian reporting a sharp increase on ANZ-Roy Morgan’s latest survey, as signs have emerged that newly confirmed COVID-19 cases have been brought under control, implying that restrictions on movement may be relaxed sooner than previously feared.
However, some risks remain, especially relating to landlords with rental apartments in the major capital cities. For example, the continued impact of the COVID19 has led to the extension of an eviction freeze out until March 2021 in New South Wales. This applies further cash flow pressure on landlords, who very often rely on the rental income to service their mortgage.
The weekly payroll figures suggested that between mid-March to mid-May, some of the most significant declines in payrolls occurred in sectors such as accommodation &amp; food services (–29 per cent), arts &amp; recreation (–26 per cent), administration &amp; support services (–10 per cent).
By the first week of September there had only been a modest recovery in accommodation and food services (still -22 per cent) and arts &amp; recreation (-14 per cent).
“This is materially higher than the normal acceptable rate of arrears which might be around 1 to 2 per cent, and in the range of 2 to 3 per cent in states and territories which have been struggling economically” Mr Wargent said.
Doron Peleg of Riskwise Property Research said “banks have a very clear strategy to minimise forced sales as much as possible. We’re seeing lenders, who are our clients, assessing the risks and opportunities for price increases at the individual loan level, before making specific decisions regarding the extensions of holiday repayments and flexible arrangements with borrowers.
“The significant improvement in buyer sentiment in relation to dwelling prices, (as demonstrated by preliminary auction clearance rates that are consistently above the 70 per cent mark for houses in Sydney), show that the risk associated with the vast majority of the deferred loans is lower than expected” Mr Peleg said.
Pete Wargent, co-founder of BuyersBuyers.com.au, a national marketplace offering affordable property buying services to all Australians, said that many borrowers had opted to defer repayments without necessarily being at risk of default.
“Mortgage brokers have signalled that many borrowers elected to take a repayment holiday in order to maintain a financial buffer, as a form of insurance policy, rather than through genuine duress. And targeted stimulus measures providing income support have been very effective, as has been borne out by the lowest bankruptcy and insolvency figures in a quarter of a century”.
“Moreover, banks have reported lately that increasingly owners are beginning to make repayments again, with about 109,000 loans being repaid again by the end of July, suggesting that the figures will continue improve over the coming six months” Mr Wargent said.
Risk areas remain but employment is recovering
The recovery in employment was comfortably stronger than expected through August, despite being held back by Victoria.
Mr Peleg of RiskWise said “we’ve seen that the shutdown measures have disproportionately impacted lower income occupations, and as such there is a risk of rental arrears continuing to rise over the coming year. And this is a time when inner city unit vacancy rates have been at record highs, including in Sydney, Melbourne, and Brisbane”.
“Therefore, we expect that some landlords will experience cashflow pressures in 2021, as previously projected in our Top 10 Unit Oversupply Areas report”.
Regulatory monitoring
The regulator APRA is keenly aware of the risks when mortgage holidays end, and  issued a letter to deposit-taking institutions following a review of plans for the assessment and management of loans with repayment deferrals. 
ASIC noted that some plans included reference to borrowers accessing their superannuation as an option that could potentially be considered if borrowers are unable to resume repayments.
Mr Peleg of RiskWise said that “overall, there is a very low incentive for lenders to push stressed borrowers into default leading to a wave of forced sales or foreclosures, and practical solutions are likely to be found”.
“When a risk becomes well known and widely discussed it rarely blows up into the major outcome that is feared, at least in part because when risks are discussed so openly solutions are found.”
Mr Wargent of BuyersBuyers.com.au “we have seen a similar dynamic previously with the feared interest-only loan reset in recent years, which did not lead to widespread arrears or defaults, despite much breathless reporting.
“This is a different and somewhat unique situation, but we expect lenders to work with borrowers and regulators to smooth the transition, especially at a time when mortgage rates are at record lows and interest serviceability has improved so significantly”.
“Overall, borrowers are now beginning to make repayments again, employment is generally recovering steadily, at least outside Victoria, there is a noticeable improvement in housing measures and projections, and we expect lenders to work closely with borrowers in the first quarter of 2021 to manage the transition, with regulatory oversight” Mr Wargent said.
Fewer forced sales
Mr Peleg said “the upcoming changes to responsible lending, could significantly decrease the number of forced sales. Responsible lending obligations have created a supply barrier of credit from the banks to lenders and particularly for property investors.”
“The upcoming changes will simply enable banks, that have been experiencing a fierce competition from non-bank lenders, to compete more aggressively, i.e. to simply write more loans.
“Obviously, this can have a clear flow-on effect on the aggregate demand for property, and therefore on property prices. The likely increase in property values make the current deferred loans less risky, as borrowers have properties with higher likelihood to increase in value in the future. “
The announced changes may also provide a variety of re-finance options for borrowers.
“Consequently, the number of forced sales is likely to be low, and it is highly unlikely that forced sales will have a macro impact on the property market” Mr Peleg said.
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Four reasons loan deferrals won't derail the housing recovery: RiskWise's Doron Peleg

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Around 65% of economists who weighed in on this question (17/26) say now is a good time to buy property, with recent ABS data revealing a surge in owner-occupier purchases worth $1.2 billion between June and July 2020. 
Almost all respondents (86%, 24/28) agree that the housing market is showing more resilience than expected, despite a rising unemployment rate, JobSeeker cuts and the Victorian lockdown.
Rebecca Cassells of Bankwest Curtin Economics Centre said that government stimulus measures during the pandemic have largely propped up the property market.  
“The current resilience of the housing market is related to the stimulus that both federal and state governments are directing to the sector and not necessarily driven by current economic conditions,” Cassells said.
When asked about the areas where house prices are most likely to retain their value, those who weighed in cited the coastal surrounds of Sydney (50%, 9/18), followed by Greater Melbourne (41%, 7/17).
Where do you think house prices are the most likely to retain their value?  <img src="https://mcusercontent.com/cc5e9bce699fa1d71a67cf499/images/2eb82b1e-4ddb-4737-8b9e-18e3176ef79c.png" data-imagetype="External">
When it comes to the rental market, experts predict prices to decrease in both Sydney and Melbourne by 5% and 8% respectively, yet minor price hikes are forecast for Canberra and Darwin (+2%), as well as Hobart (+1%). 
Economic Sentiment Tracker 
Experts are feeling optimistic about Australia's GDP, with two-thirds (66%, 19) expecting GDP growth before the end of 2020.
Yet over three-quarters (77%, 23) believe Australia has not seen the worst of the unemployment rate, and expect it to rise before 2020 ends. Only three respondents (10%) think that it will go down from here.
Finder's Economic Sentiment Tracker gauges experts' confidence in five key indicators: housing affordability, employment, wage growth, cost of living and household debt.
Cooke said that sentiment toward housing affordability is tipping down after a record high last month, signalling that property prices may not be set to plummet as hard as previously predicted.  
<img src="https://lh4.googleusercontent.com/CxZhj5xApfMZsSbfvzkYXwV4Lb27JdCV-fKVtBSCsG7jIanihy613VWXX1jBrZJRzrFwC-acTjOYGysXQavMGkrHvUL_M-sOPFGqg0QGBN0lkG1vbbXyHyGtByZPqHpdatMl2p_K" data-imagetype="External">
“In terms of economic sentiment, there has been a curious rise in positivity around employment this month. 
“With government benefits on the chopping block, it seems economists are increasingly confident that the slowly awakening economy will cushion the blow,” he said.  
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Two thirds of economists say buy property: Finder

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Cbus Property’s 443 Queen Street project in Brisbane has been awarded a 6 Star Green Star design rating by the Green Building Council of Australia.
<a href="/buildings/443-queen-street-brisbane-443-queen-street-brisbane">443 Queen Street</a> is the first residential building in Australia to be recognised with this rating.
The development received the 6 star Green Star rating, based on outcomes across nine impact categories, including management, indoor environment quality, energy, transport, water, materials, land use and ecology, emissions and innovation.
<a href="/developers/cbus-property?utm_source=PropertyObserver" target="_blank">Cbus Property</a> CEO Adrian Pozzo said the achievement was a testament to the company’s commitment to build and manage a sustainable $5 billion residential and commercial portfolio.
Davina Rooney, GBCA’s chief executive, said the project showed world-leading innovation and sustainability.
“The air-quality features and use of sustainable design are particularly impressive and will help to set a new standard for Australian developments”, she said.
Cbus has developed a series of key targets and milestones for our sustainability strategy, one of which is to become net zero carbon by 2030.
The Queen St rating is demonstrative of the company’s support to this goal and the World Green Building Council’s net zero carbon buildings commitment.
Last year, Urban named two Cbus projects among Melbourne's newest <a href="/news/5-of-melbourne-s-environmentally-conscious-new-development-highlights" target="_blank">environmentally conscious developments</a>.
In August last year, the first five floors of the <a href="/buildings/443-queen-street-brisbane-443-queen-street-brisbane">Brisbane project</a> had been completed.
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Cbus Property's 443 Queen Street, Brisbane project rated Australia's first 6 Star Green Star residential building

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GUEST OBSERVATION
 
After two decades equating budget surpluses with good economic management, it might seem convenient that the federal government has <a href="https://ministers.treasury.gov.au/ministers/josh-frydenberg-2018/speeches/speech-australian-chamber-commerce-and-industry-canberra">changed its fiscal strategy</a> just before the budget to focus on jobs over keeping the deficit in check.
But it’s the right move. The world has changed in ways that make government spending more necessary and government debt more sustainable than ever.
Debt talk still dominates <a href="https://www.afr.com/policy/economy/budget-must-chart-course-to-eliminate-debt-and-deficit-20200929-p5605q">newspaper headlines</a> and many of Treasurer Josh Frydenberg’s <a href="https://ministers.treasury.gov.au/ministers/josh-frydenberg-2018/transcripts/interview-karl-stefanovic-today-show-1">media appearances</a>. But it shouldn’t. Here’s why.
We are in the middle of a major economic shock
The COVID-19 recession is the biggest economic shock since the Great Depression. GDP <a href="https://www.abs.gov.au/statistics/economy/national-accounts/australian-national-accounts-national-income-expenditure-and-product/latest-release">fell 6.3%</a> in the year to June, the worst annual result since 1929.
The federal government should use its balance sheet to spread the costs of such a large shock over time. The alternative would be to leave those who lost their jobs or businesses in poverty.
The government’s emergency response saved businesses and jobs from going under in the short term. Now, as we emerge from the crisis into the recovery phase, large-scale stimulus is needed to boost demand and create new jobs.
Debt has never been cheaper
It has never been cheaper for governments to borrow. As the next chart shows, the interest rate on 10-year Australian Government Bonds is less than 1%. If inflation stays above 1%, as the Reserve Bank and Treasury expect, the “real” interest rate the federal government pays on the bond will be negative. That is, it will effectively be paid to borrow.
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<img src="https://images.theconversation.com/files/361517/original/file-20201005-20-1oqmgxs.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="Yields on 10 Year Australian Government Bonds."> Author provided
<hr>
These very low interest costs change the dynamics of managing debt we accrue now. Investments that boost future growth – including spending to reduce unemployment and close the output gap – will pay for themselves.
This is the fiscal “free lunch” spoken about by the former chief economist of the International Monetary Fund, <a href="https://www.aeaweb.org/articles?id=10.1257/aer.109.4.1197">Olivier Blanchard</a>, and the deputy governor of the Reserve Bank of Australia, <a href="https://www.rba.gov.au/speeches/2020/sp-dg-2020-09-22">Guy Debelle</a>.
Extra stimulus won’t spook financial markets
To get the unemployment rate below 5% by the end of 2022, the <a href="https://theconversation.com/now-well-need-100-120-billion-why-the-budget-has-to-spend-big-to-avoid-scarring-145489">Grattan Institute</a> estimates a further A$100 billion to A$120 billion of fiscal stimulus is needed on top of what governments have already announced.
This is unlikely to cause financial markets to break a sweat. Even if gross debt was to nudge 50% of GDP in the next few years, it would still be far below that of most other developed nations before the COVID crisis. At the end of 2018-19, the gross public debt in the UK was 85% of GDP, in the US 103%, and in Japan more than 200%. All have borrowed substantially more since then at very low rates.
There’s also no risk that significant government spending will cause wages or inflation to rise dramatically. In fact, Australia has the opposite problem. Wages were stagnant before the crisis and are forecast to remain so for years. Inflation has been persistently below the Reserve Bank’s inflation target and is forecast to remain so for years.
We can manage debt without austerity
Frydenberg has signalled that, as employment recovers, the government’s fiscal strategy will shift to stabilising and then reducing debt as a share of GDP. Although his stated threshold of “well under 6% unemployment” is <a href="https://theconversation.com/frydenberg-is-setting-his-budget-ambition-dangerously-low-146855">not ambitious enough</a>, the idea makes sense.
The good news is that with interest rates on government borrowing so low, debt as a share of GDP can be reduced without pursuing austerity in the form of deficit reduction.
The interest rate is one of three factors that affect the size of debt relative to GDP. The other two are the budget balance (the incremental contribution to debt) and nominal GDP growth, which depends on economic activity and inflation.
Even if interest rates were a little higher than now (say, 1.5%), the government can reduce debt relative to GDP even while continuing to run large deficits, provided that nominal GDP growth returns to a moderate level (say, 4.5%, as it was before the pandemic).
The next chart shows that under these circumstances the government can run deficits of up to $50 billion and still reduce debt as a share of GDP.
<hr>
<a href="https://images.theconversation.com/files/361518/original/file-20201005-24-r8s4ta.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/361518/original/file-20201005-24-r8s4ta.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="Gross debt-to-GDP projections based on different budget deficit scenarios."></a> Author provided
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Different rates of GDP growth would change this story, as the next chart shows. With an even higher nominal growth rate, debt would shrink even faster relative to GDP. In a scenario of prolonged low growth, debt would increase relative to GDP a little, but remain very modest.
<hr>
<img src="https://images.theconversation.com/files/361519/original/file-20201005-14-1f2z9na.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="Gross debt-to-GDP projections based on different GDP growth scenarios"> Author provided
<hr>
The government can do things to boost nominal growth in areas such as tax reform, education and skills, workforce participation, energy and climate policy, and land-use planning. The Reserve Bank should also do more by boosting inflation, which would support nominal growth.
Don’t scrimp on stimulus
There are many <a href="https://insidestory.org.au/the-biggest-bang-for-the-stimulus-buck/">urgent and valuable priorities</a> for government spending right now, such as permanently raising JobSeeker, boosting child-care support and building more social housing.
More debt might impose a small cost over a very long time. But the cost of insufficient stimulus and a prolonged recession would be vastly bigger.
The choice is simple. We should not let debt panic distract us from making it.<img src="https://counter.theconversation.com/content/147369/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/danielle-wood-147710">Danielle Wood</a>, Chief executive officer, <a href="https://theconversation.com/institutions/grattan-institute-1168">Grattan Institute</a> and <a href="https://theconversation.com/profiles/tom-crowley-1041697">Tom Crowley</a>, Associate, <a href="https://theconversation.com/institutions/grattan-institute-1168">Grattan Institute</a>
This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/dont-worry-about-the-debt-we-need-more-stimulus-to-avoid-a-prolonged-recession-147369">original article</a>.
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We need more stimulus to avoid a prolonged recession

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The residential investment market is currently in uncharted territory with the Corona-virus pandemic hitting many households, according to the August Herron Todd White (HTW) residential report. 
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The valuation firm took a look at investor activities across the nation.
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The report notes whilst state and federal government initiatives have helped keep some calm in the market, there is a lot of speculation from property professionals that the longer this pandemic goes for the more stress there will be on both tenants paying their rent and investors paying their mortgages. 
As a result this potentially could see an array of properties hitting the market within a short period of time which could put downward pressure on property prices.
"However, at the time of writing, Western Sydney has experienced a lower impact from COVID-19 in comparison to other areas of Sydney such as the inner suburbs which have a higher apportionment of renters and unit supply," the valuation firm said. 
In the greater west, a popular investment option comes in the form of a house and granny flat which can provide a second rental stream and depending on the location, potential for longer term capital growth.
An example of this is <a href="https://www.realestate.com.au/sold/property-house-nsw-colyton-133173686" target="_blank">1 Kipling Drive, Colyton</a> (pictured below), located nearby to St Mary’s which is set to be a major transport intersection linking the existing rail line to the Western Sydney Aerotropolis at Badgerys Creek.
The property is a partially updated 3 bedrooms, 1 bathroom on 632 sqm of land. Detached at the rear is a 2 bedroom, 1 bathroom, self-contained granny flat.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/9/7/colyton%20.jpg" alt="">
The property sold in May for $659,000, with a combined rental potential of $700 per week, calculating to a gross rental return of around 5.5%.
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As seen in other parts of the city, new units can quite often sell below the previous purchase ‘off the plan’, even after several years, the report noted. 
An example of this is <a href="https://www.realestate.com.au/sold/property-apartment-nsw-penrith-133083770" target="_blank">725/1-39 Lord Sheffield Circuit, Penrith</a> (pictured below), a two-bedroom, two-bathroom unit which sold off the plan in February 2017 for $584,000 however re-sold in March 2020 for $505,000. The off the plan purchase was unable to be supported even in 2017.
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The investor market across the South Western Sydney suburbs, in particular the Liverpool LGA, is generally very active as it offers a range of investment opportunities across a variety of asset classes, the report suggested. 
"The rental market is very competitive which has seen rentals stagnate and in some areas fall," the valuation firm said. 
The capital growth in property that has historically driven investor interest is no longer prevalent with some asset classes’ showing a decrease in value from the peaks of the 2016 and 2017 period.
Currently on realestate.com.au there are approximately 99, modern two-bedroom two- bathroom units available and approximately 160, three-to-four bedroom homes available for rent within the Liverpool LGA.
"The entry level of the investment market is driven by affordability and low risk. This is where you typically find your Mr and Mrs Citizen well represented as they are looking to park their savings into the property market rather than in a low interest bank account," the valuation firm said. 
Popular investment opportunities for this market are modern units in the sub-$600,000 range, a single house in one of the modern estates in the sub-$750,000 range, or a house and granny flat set-up. All three property types achieve reasonably safe returns and can come with some tax benefits as well, the report noted. 
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Notwithstanding the below examples, duplex pairs and small unit blocks provide additional investment opportunities however they require a larger capital outlay.
A two-bedroom, two-bathroom unit in 12-14 George Street Liverpool sold in March for $460,000, with an assessed gross yearly rental of $20,650, representing a 4.5% yield. 
However the previous sale in March 2016 was for $519,000, meaning an 11% decrease in value over four years. 
A modern four-bedroom, two-bathroom house in a new estate in Edmondson Park sold in April for $730,000, with an assessed gross yearly rental of $26,400, representing a 3.6% yield. 
"Whilst the rental return is not as strong as a unit may be, this type of property traditionally will show superior capital growth," the valuation firm said. 
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A recent sale of a house and granny flat in Lurnea in June for $835,000, would likely achieve a gross combined annual rental of $38,400, representing a 4.6% yield.
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Moving away from your traditional investment classes, the rezoning of land in the South West, particularly in designated Growth Corridors and the Aerotropolis Precinct has seen property prices skyrocket. 
For the broader residential market you have most likely missed the boat, but for those lucky enough to have owned land prior to any hint of rezoning taking place, developers are paying well above what could have ever been imagined for these traditionally rural areas. 
Nowadays these areas are occupied by developers and established land bankers, the report noted. 
A recent sale of a one-hectare site in Austral, sold in April for $2.625 million. The previous sale of this property was back in 2014 for $1.855 million, a 41 per cent increase in six years.
Another property in Bringelly sold in May for $2.3 million. The previous sale was back in 2015 for $1.15 million, a 100 per cent increase in five years.
"Western Sydney is currently considered the best place for returns, given the varied properties to invest in. We believe a well located house and granny flat provides a great option for their higher yields and depending on the location, future development potential given the land component.
"In other parts of Sydney, investors can look to play the long game and bear the short term loss of rents, for the ability to secure a property at a discount, and also take advantage of current low interest rates. There is value across all levels with strong medium to long term capital growth opportunities," the valuation firm said. 
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Western Sydney sees a lower impact from COVID-19: HTW residential 

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Expressions of interest for a development site opportunity in the heart of Brisbane’s north closed without an immediate sale.    The Kedron properties at <a href="https://ecomms.raywhite.com/collect/click.aspx?u=K0hqbDJ2aytYTTVuOThoM2txbyttK3V3dEJhVE9BcEQ5K3JPRkFqQzNQZVBaSkxOa05aQk9jK3I1bkRoWkR4MkFXcDdqNDd3cHUrYmg4VERRelZyRS9xWHIwbElKay9MWkJoUlhvSENJSHdEdTBjcjBGUm1PaEpzSU1sR1N2R3FRZnZpNWI1WGYreWsxeExwd3I2aVgrVjZ0Z04xQkhReW5MaG1IZlFSKzhBUHhpb0ZnY0JaeU1TY0JMaDZDcjlq&amp;rh=ff0068835071c240aa7c8d491c47b4000d9b0331" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">531-537 Gympie Road,</a> 21 Kate Street and 20-26 Boothby Street came with a substantial 16,724sqm site area.
It also offers a 59m frontage to Gympie Road and a 42m entry to Boothby Street.   The property was being marketed by Ray White Commercial QLD Managing Director and Partner Michael McCullagh and Manager – Brokerage Services Andrew Doyle.   “This really is a fantastic asset that provides an irreplaceable blank canvas development opportunity with a holding income of $413,630 per annum,” Mr McCullagh said.
“Commanding a huge site area in this established and growing suburb, this site lends itself to the design and delivery of a range of development options.   “Long-standing tenants provide significant holding income, some of which have a strong trading history for decades.   The property is also in close proximity to existing retailers such as JB Hi-Fi, Pet Barn, Chemist Warehouse, Coles, Aldi and several car dealerships.   “Gympie Road is a major arterial route which connects the Brisbane CBD to the city’s northern suburbs and services over 23 million cars per annum,” Mr Doyle said.
“As of 2019, the immediate 3km catchment area surrounding the subject properties recorded an estimated resident population of 77,334 people, with an average annual growth rate of 1.92 per cent from 2016-2019.    “The broader catchment area is relatively affluent overall, with average annual income per household exceeding $114,000, or around $15,000 higher than the Queensland average.”   Expressions of interest closed on September 24. 
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EOIs close on rare Gympie development site opportunity without immediate sale

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Australian proptech startup :Different has appointed real estate veteran, Kasey McDonald as its first Head of Leasing.
McDonald, who has spent two decades in the real estate industry, will be tasked with bringing the operations team and departments together to provide positive experiences for property owners and renters.
Founded in 2017, the proptech firm now manages over $1 billion worth of properties across Sydney, Melbourne, Brisbane and the Gold Coast.
The full-service property management startup automates the everyday tasks of a property manager.
It allows property owners to pay a fixed fee of $100 per month instead of a percentage based on the rental price of the property.
McDonald's appointment follows a strong period of growth for :Different, who closed its third funding round earlier this year.
It raised $7.1 million to support its growth plans to expand to Perth, Canberra and beyond.
“I bought my first property at 18, and started as a property manager two decades ago, so I’ve had the experience of being on both sides of the fence”, McDonald said.
She hopes that this will help her in streamlining the way :Different’s property managers work.
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:Different appoints its first head of leasing

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A lakeside house nestled on 718sqm of tropical gardens in northern Sydney has been sold for $4.27 million. 
The four bedroom, five bathroom home is situated at <a href="https://www.realestate.com.au/sold/property-house-nsw-narrabeen-134169810" target="_blank">14 Malcolm Street, Narrabeen</a>.
Built 5 years ago, the home comes with multiple living spaces, alfresco entertaining areas, heated pool and spa. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/9/7/narrabeen%202.jpg" alt="">
It also features timber panelled facade, Caesarstone island kitchen, high ceilings, recalled ironbark flooring and louvered windows. 
There is a seven car automatic lock-up garage plus electronic security gate. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/9/7/narrabeen%203.jpg" alt="">
Within footsteps of lakeside parklands, the home is situated within close proximity to eateries, cafes, schools and supermarkets. 
Garry Greco and Michael Clarke of Clarke&amp; Humel Property Manly sold the home. 
The property was last sold in 2012 for $1.075 million. 
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Narrabeen lakeside trophy home sold for $4.27 million

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

Joel Robinson

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

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

WM Residences fills gap in Mordialloc townhouse market

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

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

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

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

NAB funds $1 billion Surfers Paradise apartment development, Palmera

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

Staff reporter

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