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Gavin Rubinstein is whispered to be heading to Woollahra where he will still operate under the Ray White network.
He is destined for Queen Street, Woollahra, the upmarket district where Randall Kemp has fronted the national brand from Moncur Street.
Kemp and Rubinstein are suppose to work collaboratively, as Rubinstein seeks listings in Bellevue Hill, Rose Bay, Vaucluse, Dover Heights, Double Bay and Bondi.
Rubinstein, along with his current five members of The Rubinstein Group, has been with Ray White Double Bay for more than a decade. 
His only recent social media tweet has been: Don’t follow the path. Blaze the trail. 
It is understood he will own the agency business.
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There have been recently denied suggestions that the White family Ray White head office was "mortified" at the prospect of losing Rubinstein from the group where he has been the top seller for the past six years.
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<div class="m_-4316370515819688225gmail_signature" dir="ltr" data-smartmail="gmail_signature">Gavin Rubinstein's departure from Ray White Double Bay was announced by Ray White Double Bay’s managing director, Elliott Placks late last month.</div>
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“We have enjoyed watching Gavin and his team grow and develop over the years. Our business is like family, and sometimes you have to let them go to grow,” Mr Placks said.
Rubinstein, 31, celebrated 10 years in the real estate industry in 2017, and was just nine months short of 10 years with Ray White Double Bay.
Rubinstein ranked as the number one residential salesperson in all of Australia for Ray White in the past six years.
Placks described the departure as simply “a parting of ways” having briefly initially been reported as describing it as a “divorce”.
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“It’s not an ugly divorce in any sense,” he reportedly said.
“Our values have shifted over the past six months and we’ve decided to part ways."
Rubinstein’s current listings go to May 23 auction.
Last October Rubinstein was featured on the front cover of the local paper, described as "a celebrity in the dazzling world of eastern suburbs property."
There has been no comment forthcoming from Placks on Rubinstein's repositioning, but the two were increasingly engaged in competitive pitching for the same listings when they both operated out of the Double Bay office.
Ray White Double Bay has <a href="/news/ray-white-double-bay-hire-gavin-rubinstein-replacement">recently recruited Alan Fettes</a> from Ballard Property Group.
 
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Gavin Rubinstein heading to Queen Street, Woollahra under Ray White banner

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GUEST OBSERVATION
The lowest blow of this election campaign may have come from a firm of real estate agents that abused its position of trust to scare renters about Labor’s proposed negative gearing changes.
If you are one of those renters, relax. You have nothing to fear from the changes. You might even benefit from them. The only interests the real estate firm is protecting is its own.
<a href="https://images.theconversation.com/files/274660/original/file-20190515-60541-2j3qx4.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip" target="_blank"><img src="https://images.theconversation.com/files/274660/original/file-20190515-60541-2j3qx4.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></a>
Letter from Raine &amp; Horne principal Graham Cockerill. <a class="source" href="https://www.propertyobserver.com.au/https://twitter.com/samanthamaiden/status/1127827648451715074" target="_blank">Samantha Maiden, Twitter</a>
Late last week Raine &amp; Horne principal Graham Cockerill wrote to tenants saying Labor’s changes would be “devastating” and including material from the Real Estate Institue of Australia warning of what might happen if “the planned changes to negative gearing do go ahead”.
“The fall in property prices will decrease the value of 18 million Australian’s retirement nest eggs,” and “rents will rise” the material warns. “Further, government savings will be less than estimated, unemployment will rise and our whole economy will be in jeopardy.”
Other renters have received official looking material apparently sent by the Liberal Party reading “Final Notice: Rent Increase”.
<a href="https://images.theconversation.com/files/274574/original/file-20190515-60557-16beq7g.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/274574/original/file-20190515-60557-16beq7g.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
<a class="source" href="https://www.reddit.com/r/brisbane/comments/bofcll/i_received_this_piece_of_fear_mongering_political/" target="_blank">Apotheosical, Reddit, Tuesday May 14</a>
It’s a jumped-up scare campaign. But some renters may give it more credibility than it’s worth because some of it comes from the people who normally notify you when your rent is going up.
Here are some facts.
Labor’s policy will not raise rents.
Real estate agents don’t decide rents, landlords do.
The Labor policy won’t fundamentally change the balance of supply and demand in the rental market.
Yes, if there are fewer cashed-up investors that might mean fewer rental properties. But those properties won’t disappear – home buyers will move in, so there will be fewer renters.
And the policy shouldn’t reduce the supply of new homes, because most investment lending goes to existing rather than new homes. Labor’s policy actually leaves in place the tax breaks for people who invest in new homes.
Some of the renters targeted by Raine &amp; Horne might be saving to buy a home. If you are one of them, here are some more facts.
Labor’s policy will help renters buy houses
You stand to benefit from the Labor policy. If there are fewer taxpayer dollars in the hands of property investors, that will boost your prospects of being able to buy a home yourself.
If there is reduced demand from investors, house prices will fall. The fall will be modest – we at Grattan Institute calculate it will be <a href="https://theconversation.com/confirmation-from-nsw-treasury-labors-negative-gearing-policy-would-barely-move-house-prices-116736" target="_blank">in the range of 1% to 2%</a>. The Commonwealth and NSW Treasuries estimate similar modest price falls.
So what about the headlines you might have seen about 10% or 20% price falls?
All those estimates were prepared by – or paid for by – the property industry. If you detect a pattern you are right. Well-resourced property groups that stand to lose from capital gains tax and negative gearing changes have been muddying the water for a long time now.
The industry talks its own book
Here are a few facts that real estate agents aren’t rushing to tell you. Negative gearing and the capital gains tax discount work together to create a very generous tax regime for the property industry. Investors write off their losses after interest costs in full against the taxes on their wages. But when they sell, they only pay tax on half their gain. Given strong growth in property prices and low inflation, some wage earners <a href="https://grattan.edu.au/wp-content/uploads/2016/04/872-Hot-Property.pdf" target="_blank">end up paying less tax</a> than if they had not invested at all, despite the profits on the investments.
And like most tax concessions, people with higher incomes benefit the most. That’s why the share of anaesthetists negatively gearing is almost triple that for nurses, and the average tax benefits they receive are around 11 times higher.
The end result is that the government has been subsidising investors to buy their second, third or tenth property while at the same time crying crocodile tears about the fact that lots of young people trying to buy their first home are locked out of the market.
The industry claims of rising unemployment and putting the economy “in jeopardy” show a similar disregard for facts. The Labor policies will collect on average an extra A$3 billion to A$4 billion a year in revenue for the government over the first decade, less than a 1% increase in the total tax take. Much of that money will go back into the economy through <a href="https://theconversation.com/labors-costings-broadly-check-out-the-days-of-black-holes-are-behind-us-thankfully-116904" target="_blank">reductions in other taxes or increases in spending</a>. Any negative overall effects from the higher levels of tax will be imperceptibly small across a A$1.8 trillion economy.
There is, however, one industry that might go backwards.
Real estate agents take healthy commissions from housing investors. Investors, particularly negatively geared ones, also turn over properties faster than homeowners. So real estate agents benefit when there are more properties in the hands of investors and fewer in the hands of homeowners.
Don’t be scared by the real estate agents’ campaign. Labor’s negative gearing policy won’t raise your rent. And if you’re trying to buy your first home, it just might boost your chances.
<a href="https://theconversation.com/profiles/danielle-wood-147710" target="_blank">Danielle Wood</a>, Program Director, Budget Policy and Institutional Reform, <a href="http://theconversation.com/institutions/grattan-institute-1168" target="_blank">Grattan Institute</a>
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/real-estate-agents-targeting-tenants-is-the-lowest-of-the-low-blows-during-election-2019-117188" target="_blank">original article</a>.
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Real estate agents targeting tenants is the lowest of the low blows during election 2019: Grattan Institute's Danielle Wood

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Four Australian capital cities rank in the top 23 cities around the world for luxury residential price growth, according to the latest global research from Knight Frank.
The Knight Frank Prime Global Cities Index – Q1 2019, revealed Brisbane was ranked 14 for luxury price growth, followed by Sydney (18), Melbourne (22) and Perth (23).
Overall the index increased by 1.3% in the year to Q1 2019, its lowest average annual rate of growth since Q4 2009, and down from 1.8% in the previous quarter.
Knight Frank’s Head of Residential Research Australia Michelle Ciesielski said although it was still rising, prime global residential price growth had continued to moderate due to political and economic headwinds, the rising cost of finance and more property market regulations around the world.
“The Australian luxury market continues to perform well, with Sydney, Melbourne, Perth and Brisbane all recording growth in luxury residential prices higher than the overall average of 1.3% in the 12 months leading up to the end of March this year."
“Despite a recent cooling of the market in Sydney and Melbourne, these markets recorded yearly price growth of 2.4% and 1.8% respectively, while Brisbane recorded year-on-year growth of 3.2% and Perth recorded growth of 1.8%.”
Ms Ciesielski added, Australia’s luxury residential markets were expected to continue to perform well going forward, particularly Sydney and Melbourne, where the number of high-net-worth individuals – those with a net worth of more than US$1 million, excluding their primary residence – was expected to grow by 21% from 2018 to 2023 to reach a total of 116,049 in Sydney and 68,888 in Melbourne.
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“Over the past five years four millionaires were created every day in Sydney,” she said. “This is expected to rise to 11 millionaires per day over the next five years."
“In Melbourne, we saw three millionaires created per day over the same period, with projections it will rise to seven millionaires a day over the next five years."
“Perth’s millionaire numbers are expected to double from two per day over the past five years to four per day over the next five years, while for Brisbane the figures will triple from one to three millionaires being created every day over the same timeframe," Ms Ciesielski concluded.
Knight Frank Partner &amp; Head of Residential Australia Sarah Harding said, “Not only will there be more people with more money to buy luxury residential property in Australia, but we have found the majority of buyers in the prestige market across the country are not under the same pressures experienced by those in the mainstream market of minimal wage growth and restrictions on finance from the banks.
“Sydney is continuing to see positive growth in the prestige market, with limited luxury properties suitable for high-end buyers."
“They’re looking not only for superb quality finishes, but smart technology and high levels of privacy within their luxury residences."
“With competition for limited stock, we expect to see positive price growth for luxury homes, albeit at a more sustainable pace than in previous years,” Ms Harding concluded.
European cities accounted for seven of the top 10 rankings for annual growth.
Berlin was the top ranked city, with 14.1% annual growth, while Moscow placed second with 12% growth.
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Berlin leads as Australian luxury property price growth outpaces global average: Knight Frank

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The billionaire hedge fund manager Sir Michael Hintze has bought the Canowindra aggregation in Central Western NSW from Macquarie's Viridis Ag for more than $21 million.
The properties were part of Qatari-owned Hassad’s 100,000 hectare portfolio, which Macquarie’s Paraway Pastoral and Viridis Ag bought in September last year in a deal worth about $300 million.
Just six months after the purchase, a number of the properties it acquired as part of the deal were listed for sale.
The aggregation comprises <a href="https://property.cbre.com.au/properties/canowindra-aggregation-cargo-road-canowindra-nsw-2804/" target="_blank">the 3651-hectare Canomodine on the Belbubula River</a> and 536-hectare Elonera west of Orange.
It will add to the more than 40 properties and 72,000 hectares farmed by Sir Michael's MH Premium Farms (MHPF) in NSW, Victoria and Queensland.
In a rare disposal, MHPF sold Glaisnock, a 1000-hectare mixed farming holding in NSW's south-west slopes, for $8.8 million last November.
In March, Viridis Ag bought the Brudle Park dry-cropping aggregation leased to insolvent farm manager Ceres Agriculture Co paying about $50 million.
Ceres Agricultural Company collapsed with debts of about $175 million including tens of millions owed to Westpac Bank, minutes of the first meeting of creditors show.
Westpac Bank is the largest unrelated secured creditor with a claim of $31 million.
The minutes describe Ceres Ag as "relatively complex with several related party entities forming the group".
Related party creditors include ABP, the pension fund for government and education employees in the Netherlands, which is owed $58.8 million and two trusts - Pegela and Pajiti directed by Vaucluse businessman Garrick Hawkins - owed $28.7 million and $22.7 million respectively.
The minutes also reveal the Oberon-based premium beef, grains and wool producer, which farmed 30,000 hectares across 15 leased properties in central NSW, had experienced financial difficulties for about a year.
Hawkins in late March memo to staff - which was published in the Oberon Review last week - said the business was unsustainable despite his family investing "tens of millions of dollars into the business".
It highlighted the drought as a factor in its recent troubles.
Since Philip Campbell-Wilson and Said Jahani of Grant Thornton were appointed voluntary administrators of Ceres Ag, 49 out of 51 employees have lost their jobs.
"Based on the current creditor register, we have received claims in the amount of circa $175 million owing to creditors, some of which may have security on assets outside the company," said Campbell-Wilson in response to a question at the first meeting of creditors on April 9.
Ceres Ag did not own any of the land it farmed.
 
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Billioniare Sir Michael Hintze spends $21 million on Macquarie's Canowindra aggregation in Central Western NSW

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There were 2300 first home buyers (FHBs) in March across NSW.
The average NSW FHB spends about $465,000 on their purchase, based on the commonly expected 20% deposit and ABS data showing a typical $387,000 NSW mortgage.
There is a lower $359,000 average mortgage in Victoria and $300,000 in Queensland.
The typical Australian first home buyer $342,000 mortgage is around 25% lower than the $462,000 non-first time owner occupier buyer's mortgage.
The ABS data also highlights the price gap between capital cities and the regions.
Sydney established detached house prices sit at around a $900,000 median, with houses in the rest of the state coming in at $466,000.
It is $700,000 for Sydney attached dwellings (terraces, semi and units) with the rest of NSW having a $405,000 median attached dwelling purchase price.
The gap is narrow in Queensland with established detached houses costing $530,000 in Brisbane against $430,000 in the rest of Queensland.
In Victoria, established Melbourne homes cost $705,000 slightly more than double the $350,000 in the rest of the state.
Prime Minister Scott Morrison's proposed deposit guarantee scheme will seek to pioneer a differential recognition of prices across the nation in deciding what priced homes will qualify.
It will have an as yet to be determined different cap on home purchases eligible for the scheme which will underwrite the topping up of buyers with just a 5% deposit who find lenders prepared to lend to them.
The current grants fully fund purchases up to $650,000, petering out on an $800,000 purchase.
The new scheme is likely to attract buyers to think about hiding to the regions and also into apartments in the city.
Urban Taskforce CEO Chris Johnson noted the average apartment in Sydney is likely going to be $400,000 cheaper than the average house.
"So many younger people, including families will see the benefits of a new type of living where they share large gardens, share swimming pools that they don’t have to maintain and often have child care centres next door.”
During March, first home buyers enjoyed the largest share in the Northern Territory, with 42% of owner occupier housing loans.
This was followed by Western Australia (36%), Victoria (30%) and Queensland (27%). 
FHB participation was lowest in Tasmania (20%), followed by South Australia (21%), the ACT (22%) and New South Wales (24%).
With more than 500 first home buyers over the past year, the 2170 Liverpool postcode retains its status as NSW's biggest beneficiary of government grants.
Over 11,000 Liverpool buyers have secured grants to get themselves onto the property ladder since the FHOG's commencement in 2000, introduced in the wake of the goods and services tax.
The outer ring south western buyers have secured $11.7 million in grants and concessions over the past year, and $213 million in the past 19 years.
The median Liverpool house price currently sits at $740,000, with its median unit price $440,000.
Westmead and Campbelltown follow as next busiest FHB hotspots.
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How will the price difference between capital cities and regions impact the new FHB policy?

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A group of investors headed by former Yellow Brick Road owner David Carr has sold the Redcliffe Tavern and First Choice Liquor Superstore in Brisbane's north at a loss.
They sold for $14.5 million having paid $15 million in 2016.
The previous owner, Somerset Properties had bought it from Alceon for $11.5 million in 2014.
It sold in 2013 at $10.65 million.
The latest buyers, Anthony and Julian Vedelago's Wuvulu Property Investments, secured it on a yield of about 7.25% through Savills.
The 1464 square metre freestanding Anzac Avenue building sits on a 2313 square metre site.
It comprises a 643 square metre tavern and 821 square metre liquor store.
It was offered with a 20-year lease to Coles-owned Liquorland plus options to 2049.
The property was developed in 2009.
Nine Entertainment reported Carr played down the sales result and said the investor group had "come out ahead" when the deal was averaged out across a number of pub divestments.
"I don't see it as a turning point for the pub sector," Carr said.
He attributed the weaker sale result to "some uncertainty around the Coles business model in Queensland" during the sales campaign and described the property as more of a retail offering then a pub asset.
Carr runs Sydney wealth advisory firm DBR with Bernard Reilly who was also an investor in the Redcliffe Tavern.
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Investment group led by David Carr makes loss on Redcliffe Tavern sale

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Oscar-winning Mad Max hair designer and make-up artist Lesley Vanderwalt’s Rushcutters Bay apartment has been listed with a $1.65 million price guide.
The two-bedroom, two-bathroom apartment with garage at <a href="https://www.realestate.com.au/property-apartment-nsw-rushcutters+bay-131161146" target="_blank">6/44b Bayswater Road</a> has been listed by Ray White Taylor + Partners.
It has been listed for June 8 auction.
The New Zealander Vanderwalt, who is based on the Gold Coast, paid $985,000 in 2007. 
She won an Academy Award in 2016 for Mad Max: Fury Road alongside Damian Martin and Elka Wardega.
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Oscar-winning hair designer Lesley Vanderwalt’s Rushcutters Bay unit listed

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The next three RBA meetings are clearly live for a rate cut, says the NAB's Alan Oster.
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With its outlook for below trend growth, and below target inflation combined with little further improvement in the labour market, NAB expect the RBA to cut rates twice in 2019, taking the cash rate to a new record low of 1%.
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"We expect a cut by at least August."
"We have left our call for the first cut as July, with a follow up in November." 
However, with the RBA still looking for an improvement in the labour market and monthly figures often volatile, NAB recognise that the timing of the first cut will be especially data dependent.
"On the one hand a marked deterioration in upcoming labour market data as well as weaker national accounts partials, could see the cut brought forward to next month.
"Against that a cut could be delayed to August when the Bank will have observed another quarter of likely weaker GDP growth, a further update on the CPI and a revised set of staff forecasts ahead of the next SMP."
NAB noted labour market indicators should be closely watched, as a turn in the labour market could reasonably be 1.0 expected given the prior slowing in output growth.
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The NAB Survey measure of employment weakened in April and job ads appear to have fallen.
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The NAB reported the impact of the downturn in the housing market was "affecting both output and inflation data.
"The cooling appears to be ongoing, with prices continuing to decline and building approvals continuing to trend down."
NAB expect dwelling investment to record another decline in Q1 following the relatively sharp fall in the last quarter of 2018. 
"Overall we expect dwelling investment to decline by around 20% over the next two years. 
"Alongside this, we expect house prices to decline by another 5% nationally over 2019 and early 2020 before levelling out for a period."
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The report noted capital city house prices have now fallen by almost 10% since peaking in late 2017. 
"These declines have been led by Sydney (down 15%) and Melbourne (down 11%) where the role of investors is much larger and prices saw a much more significant rise. 
"That said, recent months have seen price declines broaden to the other states, with Brisbane and Adelaide having now declined over the year in addition to the ongoing weakness in Perth. In Hobart growth has slowed, but the city remains the standout, with prices remaining well up on a year ago," Alan Oster said.
On the activity side, building approvals continued their trend decline in March, unwinding the spike a month earlier. 
Over the past year approvals are 27% lower and are now 37% below their peak in 2017.
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The decline in approvals is evident across both houses and apartments down 19% and 57% respectively from their peaks in 2017. 
The decline in approvals suggests that activity in the sector will weigh on growth overall as the pipeline of outstanding work is completed.
NAB noted alongside the cooling in the market, housing credit growth has continued to slow. 
Investor lending slowed to just 0.7% y/y in March 2019, while growth in credit extended to owner-occupiers is tracking a little higher but has slowed to 5.7%. 
Overall housing credit has risen by 4.0% over the past year. 
ABS data on the value of new loan approvals has continued to trend down suggesting that credit growth will likely weaken a little further over coming months.
"To date, the adjustment in the housing market appears to have occurred in an orderly fashion – and may have served to reduce the prior build up of risk in the sector," Alan Oster said.
"We see the weakness in prices as having been driven by the earlier tightening driven APRA restrictions, a waning in foreign investor demand as well as affordability constraints themselves. 
"In addition it appears that there are some pockets of oversupply. 
"Going further, we see the cooling in the market continuing with prices declining a little further and also a notable downturn in the construction cycle. 
"Beyond this, we are closely watching for any additional spill overs from this sector to other sectors."
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Next three RBA meetings are live for a possible rate cut: NAB

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New analysis by the Property Investors Council of Australian (PICA) has detailed just how much tax typical property investors pay to governments under current negative gearing and Capital Gains Tax (CGT) rules.
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PICA chairman Ben Kingsley said the council’s modelling showed an average Mum and Dad investor was adding hundreds of thousands of dollars to the public purse over the lifetime of a single investment property.
“The amount of federal taxes property investors pay is extraordinary and will surprise many – and that’s before state based stamp duty and land tax costs are included, adding tens of thousands of dollars more to the bill,” Mr Kingsley said.
“It is clear that property investors do pay well above their fair share in taxes and our concern is that impost on investors is set to blow out even further if Labor’s policies see the light of day.”
PICA modelled their investor tax figures based on current negative gearing and CGT rules assuming assets were held over a standard 30-year loan term.
“Our numbers show while a typical Australian investor will benefit from negative gearing initially, they will be taxed around $167,000 in subsequent years over the full 30 years of modelling,” Mr Kingsley said.
“If fact, their net tax payable from rental income over the life of the investment will be over $138,000 under current negative gearing rules.
“The initial tax benefit in this scenario is around $30,000, before paying the $167,000 over the journey,” Mr Kingsley said.
“If you think about what first home buyers get in grants, stamp duty concessions and the like, it’s very comparable to what investors receive, but investors have to pay a lot more additional tax when homeowners pay nothing more.”
Looking at the Capital Gains Tax impact, Mr Kingsley said under current rules CGT also added significantly to the government’s tax take.
“Our data showed, for example, if the average investing couple sold their asset in the 30th year, under the current 50 per cent exemption rule, they would be paying over $611,000 in CGT.”
<a href="https://www.propertyobserver.com.au/images/2019/5/15/negative%20gearing%201%20.jpg" target="_blank">Click here</a> to enlarge: 
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Source: PICA 
The facts show if Labor wins power on Saturday, it won’t be the wealthy who are funding their election promises, Mr Kingsley said.
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“With the majority of the nation’s 2.2 million property investors earning less than $80,000 a year, Labor’s claim about tax loopholes being for the big end of town are, frankly, insulting,” he said.
“It’s totally deceptive to characterise landlords as ‘the big end of town’ in the lead-up to election day.”
Mr Kingsley said investors have been unfairly targeted throughout Labor’s and the Green’s election campaigns.
“Mum and Dads are tired of being branded as, ‘greedy property investors buying their fifth or sixth property’, when almost 72 per cent only own one,” he said.
“We’re also fed up with being blamed for higher property prices, when historically investors make up just three of every 10 buyers in the market.”
Mr Kingsley said the PICA analysis clearly showed that investors were already contributing plenty towards funding essential services through taxes.
“By releasing this data, we want the Australian public to understand that we certainly pay our way when it comes taxes for government to spend on more hospitals and more schools,” he said.
Mr Kingsley said political attacks via increased taxation on investors looking to self- fund their retirement would have far-reaching economic ramifications for all Australians.
“We agree with research undertaken by the Property Council of Australia regarding Labor’s policy on negative gearing and CGT – that it will force the average Mum and Dad investor out of property, which will reduce demand and have a negatively impact on prices,” he said.
“In addition, the policies will also reduce construction over time, which will force up rents when rental supply tightens.”
In contrast, Mr Kingsley said moves to assist first homebuyers through a recent Coalition policy announcement would prove far more effective than tinkering with negative gearing and CGT.
“PICA supports the First Home Loan Deposit Scheme as a financially astute way to assist first-timers into the market.”
<a href="https://www.propertyobserver.com.au/images/2019/5/15/negative%20gearing%202.jpg" target="_blank">Click here</a> to enlarge:
<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/2019/5/15/negative%20gearing%202.jpg" alt="">
 
Source: PICA 
Mr Kingsley said the new policy, coupled with a variety of other state-based grants and concessions, meant it had never been a better time to be a first home buyer.
"The scheme will assist thousands of people to achieve their dream of home ownership, without drastically reducing the value of that same property, which is the undeniable outcome if negative gearing is restricted to new property,” he said.
"Mark my word, property prices will fall nationwide, and rents will rise if Labor proceeds with its foolhardy policy that will see the wealth of everyday Australians erode overnight."
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How negative gearing property investors pay tax into government coffers: PICA

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The mortgagee in possession of a home in Paralowie, in the north of Adelaide, has secured $209,000.
The 1990s built home at <a href="https://www.realestate.com.au/sold/property-house-sa-paralowie-130551434" target="_blank">42 Magdalena Crescent</a> last traded for $177,500.
It sold for its asking price after 51 days on the market.
Set on 570 sqm, it has two bedrooms, one bathroom and an open plan family and dining area.
The dining space opens to a rear verandah and the yard on 570 sqm.
Paralowie has a <a href="/developments/paralowie-sa-5108">median house price</a> of $302,000, according to CoreLogic.
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Paralowie mortgagee secures $209,000

Developer <a href="https://www.apartments.com.au/developers/bottega-property-group">Bottega House</a> has secured council approval for its first Brisbane project - a $270 million luxury residential development on an absolute riverfront site in leafy St Lucia.&nbsp;

The 15-storey project, known as <a href="https://www.apartments.com.au/new-apartments/st-lucia-by-bottega-house-180-macquarie-street-st-lucia-qld-4067">St Lucia by Bottega House</a> , will occupy a prime north-facing site at 178-180 Macquarie Street, directly fronting the Brisbane River in the established inner-west suburb known for its rowing clubs, golf courses and sprawling University of Queensland campus.&nbsp;

St Lucia by Bottega House will feature a suite of amenities including dedicated wellness spaces, a mineral pool and cold plunge. The project has been positioned to attract affluent owner-occupiers seeking high-quality, house-sized apartments.&nbsp;

Bottega House has been set up by co-directors Nick Malloch, Louis Mennes and Craig Marsh.

Malloch said the project drew inspiration from its Brisbane River setting and leafy inner-west surrounds, while responding to the demands of discerning locals looking to transition from freestanding homes into apartment living.&nbsp;

"With an expansive river frontage and lush green surrounds, we knew we had to create something special that reflects the natural beauty of the location while offering residents masterfully crafted homes," said Malloch.&nbsp;

"Our intent was to complement the project's quiet, private setting by introducing residences that offer a calm retreat and sanctuary from the everyday. The result is a harmonious blend of architecture, interiors and amenity that emphasises wellbeing, comfort and beauty without excess."&nbsp;

Malloch added that project consultants had been carefully selected in alignment with Bottega House's commitment to care, quality and attention to detail. The design team includes architects <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a>, interiors practice <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and landscaping by <a href="https://www.apartments.com.au/architects/urbis">Urbis</a>.&nbsp;

Three-bedroom apartments are expected to start around $5 millio. Selling agents Keenan &amp; Byrne said the pricing strategy for the project was anticipated to achieve upwards of $25,500 per square metre.&nbsp;

The project's development approval this week follows the success of Bottega House's inaugural Queensland project - a 22-storey collection of full-floor sky homes at Broadbeach on the Gold Coast which included the sale of a two-storey penthouse at a record price for a beachside residence.&nbsp;

St Lucia by Bottega House is expected to launch to market in November, with construction anticipated to be completed mid 2029.

[smartcode_project_cta:default project_id=151826]

Joel Robinson

Bottega House to make Brisbane debut with St Lucia riverfront apartment development

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> is advancing its affordable apartment model into Brisbane with the acquisition of another site at Cordelia Street in South Brisbane for $27 million.

Sherpa, which has a $1.7 billion pipeline across Southeast Queensland, intends to bring a cohort of apartments exclusively for first homebuyers into its proposed 186-apartment project to be built at 2 Cordelia Street.

The Sherpa model has already been incredibly well received from their Gold Coast projects, where Sherpa Group set aside a number of apartments exclusively for first homebuyers.

The new $320 million project marks Sherpa Group's second development in Brisbane, following its $255 million Symphony project, also on Cordelia Street, which is currently under construction.

Symphony will deliver 146 apartments across 28 levels, offering a mix of one, two and three-bedroom apartments. With 114 already sold, construction by <a href="https://www.apartments.com.au/builders/lps-group">LPS Group</a> is scheduled for completion in 2028.

[smartcode_project:default project_id=7574 project_image_fid=351654]

Sherpa Founder, Christie Leet, said the company was excited to be venturing into Brisbane for its second residential project.

“We’re big believers in the future of Brisbane as we lead into the 2032 Olympics and beyond,” Leet said.

“The success of Symphony has guided us into what will be our second project and we look forward to submitting our plans with council soon so we can deliver yet another quality project to the inner city residential market.

“Our Flourish model has been very well received both in Brisbane and the Gold Coast, and we’re excited to be able to offer some of these apartments again exclusively to first homebuyers to help get them into the property market.

“The model has been extraordinarily well received in our previous projects and it is something we are committed to moving forward.”

2 Cordelia Street will be designed by <a href="https://www.apartments.com.au/architects/hal-architects">HAL Architects</a> &amp; Finegrain and will include Sherpa’s signature residential amenities including pool, gym, recreation, wellness and work from home spaces.

The project will feature ground-floor commercial space, creating a vibrant amenity for residents and the surrounding community.

A development application will be lodged with Brisbane City Council in August on the code compliant site and will be launched to the market early 2027.

Sherpa acquires new site for second Brisbane apartment tower

One of North Sydney's best-known commercial buildings could become hundreds of new homes, with insurance giant Zurich Australia lodging a State Significant Development Application (SSDA) to transform 5 Blue Street into a mixed-use residential development above North Sydney Station.

Rather than demolishing the existing building and starting again, Zurich is proposing an adaptive reuse project that would convert the landmark office building into a 15-level residential development delivering 62 apartments, 86 affordable co-living dwellings, activated retail and significant upgrades to the Blue Street Plaza.

The proposal reflects a growing trend of commercial property owners repositioning ageing office assets into residential housing as Sydney grapples with housing supply shortages and changing workplace demand.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="0bba7d12-06dc-4375-aad7-238c94b21ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.42.05%E2%80%AFAM.png?VersionId=NJl5oLAEBDGuPmY3RnyliKODjMc8lvRh" />

Located directly above North Sydney Metro and train station, the 3,051 sqm site occupies one of the most strategically positioned parcels of land on Sydney's Lower North Shore.

Designed by fjcstudio, the proposal seeks to retain and adapt much of the existing structure while creating a contemporary residential address that better connects with the public domain surrounding North Sydney Station.

The application proposes two basement levels, ground floor retail, affordable co-living accommodation across the podium levels, and apartments above, while preserving and enhancing the publicly accessible Blue Street Plaza.

Rather than pursuing maximum apartment numbers, Zurich has opted for a housing mix heavily weighted towards larger owner-occupier residences.

The proposal includes 62 build-to-sell apartments comprising 12 one-bedroom, 19 two-bedroom, 29 three-bedroom apartments and two premium penthouses. It also incorporates 86 affordable co-living dwellings, which would be managed in perpetuity by a Community Housing Provider.

That balance between traditional apartments and affordable housing reflects the NSW Government's push to increase housing diversity around major transport infrastructure.

The proposal has been lodged concurrently with a rezoning application, with Zurich arguing the site is ideally positioned to support additional housing given its immediate proximity to public transport, employment and services.

"The proposal aims to respond to the housing challenges facing Sydney through the delivery of diverse housing types in a highly accessible location," the design report by fjcstudio states. It also seeks to improve pedestrian amenity through upgrades to Blue Street Plaza while creating a high-performing residential building that responds to the surrounding context.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="36082e15-c636-4481-bb68-5a5f6443fe39" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.41.36%E2%80%AFAM.png?VersionId=5P6VD.fvmqjQfIG3TWWMRXxQWiQBjeFB" />

Rather than replacing the commercial building, fjcstudio has developed a design that works with the existing structural framework above the rail corridor, an approach that significantly reduces demolition while allowing the site to be repositioned as a mixed-use residential precinct.

The existing structural constraints have informed much of the building's design, including its relationship with Blue Street and surrounding public spaces.

The building has been designed as a slender tower rising above a clearly defined podium, with vertically expressed façades intended to reduce the perceived bulk while reinforcing North Sydney's emerging skyline.

According to fjcstudio, the architectural language responds directly to the surrounding commercial towers while maintaining a finer grain expression more closely aligned with the neighbouring Lavender Bay streetscape.

The tower incorporates articulated façade elements, landscaped podium edges and recessed upper levels to soften its appearance and improve pedestrian amenity below.

A significant component of the proposal is the revitalisation of Blue Street Plaza.

The existing public space has long served as one of the primary pedestrian connections between North Sydney Station, Greenwood Plaza and Blue Street, yet its role is expected to become even more important following the opening of Sydney Metro.

Zurich's proposal seeks to strengthen that role by improving landscaping, introducing new retail frontages, enhancing pedestrian permeability and creating more active edges throughout the day and evening.

Ground floor retail would wrap the plaza, while separate residential and co-living entries have been designed to improve wayfinding without reducing street activation.

Landscape design has been integrated throughout the podium and public realm, softening what is currently one of the most heavily urbanised parts of North Sydney.

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fjcstudio has carefully oriented apartments towards Sydney Harbour and the CBD while using privacy blades and articulated façades to minimise overlooking between neighbouring buildings.

Large framed openings along the western elevation maximise harbour outlooks, while the eastern apartments have been angled towards the south-east to improve privacy from neighbouring development.

The project forms part of the continuing transformation of North Sydney from a predominantly commercial CBD into a genuine mixed-use city centre.

Since the completion of Victoria Cross Metro Station, developers have increasingly shifted their attention towards residential projects capable of leveraging the area's unparalleled transport connectivity.

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FiveX recently lodged plans for a 61-storey, 490-apartment tower that would become one of the tallest residential buildings in North Sydney if approved.

Aqualand continues to expand its Lower North Shore presence following the completion of AURA on Walker Street and its recent St Leonards and Roseville proposals.

Developers are also progressing projects throughout Walker Street, Miller Street and the Victoria Cross precinct as demand for well-located owner-occupier apartments continues to strengthen.

First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station

Busy developer Aqualand Prestige has formally taken the next step in its expansion across Sydney's Lower North Shore, lodging a State Significant Development Application (SSDA) for its long-held Archer Street site in Chatswood.

The application covers <a href="https://www.apartments.com.au/new-apartments/51-55-archer-street-chatswood-nsw-2067">51-55 Archer Street</a>, a 1,767 sqm amalgamated site on the eastern edge of the Chatswood CBD, where the developer is seeking approval for a 45-level mixed-use tower delivering 114 apartments, including a significant affordable housing component, alongside retail, commercial space and six basement levels of parking.

The SSDA marks the latest milestone for a project Aqualand has been quietly progressing over the past two years. The developer first secured the site for its Aqualand Prestige platform before undertaking an alternative design excellence process with PTW Architects, ultimately avoiding a formal design competition through the Housing Delivery Authority pathway.

The proposal has evolved considerably from Aqualand's original concept. The revised scheme has been designed around larger owner-occupier product, with an unusually high proportion of three and four-bedroom apartments, targeting the more affluent buyer profile, and downsizer, emerging across the North Shore.

<img alt="Archer St" data-entity-type="file" data-entity-uuid="0171204c-5811-41b5-9b09-2335d1b7c3d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%208.52.48%E2%80%AFAM.png?VersionId=6YTuxfq.puZo7k2wbfgemcO5K3QfXYGQ" />

The 114-apartment mix comprises six studios, 27 one-bedroom apartments, 18 two-bedroom apartments, 50 three-bedroom residences and 13 four-bedroom homes. A quarter of the building will be dedicated to affordable housing, well above the mandated 15 per cent&nbsp;

PTW has structured the building vertically, with affordable housing across levels one to six, premium apartments through levels seven to 31, duplex skyhomes on klevels 32 to 43, a penthouse on level 44, and a rooftop plant level above. Six basement levels will provide resident parking and servicing.

The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.

Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.

"The primary objective of this project was to create a distinctive building that stands out from the recently approved or built structures in the Chatswood area," the design report states, noting the structural efficiency allows greater investment into apartment quality and resident amenity.

Residents would have access to more than 450 sqm of communal open space including landscaped gardens, swimming pool, rooftop entertaining areas, fitness spaces, community gardens, children's play areas and barbecue facilities.

A major focus of the design has been the public domain.

The ground plane has been opened up through landscaped terraces inspired by Willoughby's sandstone ridges, with native planting, public seating, artwork, retail activation and a series of gathering spaces intended to soften what has traditionally been a hard commercial streetscape.

The landscape strategy references Blue Gum forests once common throughout the area, while incorporating Indigenous storytelling, public art and lighting installations to strengthen the connection to Country.

Chatswood has been one of Sydney's busiest apartment markets over the past 12 months, with a steady pipeline of both new project launches and fresh development applications.

Hyecorp recently launched Celine, a 122-apartment development just along Archer Street, while Changfa and Huirong Group are progressing The Anderson, an 84-apartment project on Anderson Street.

Develotek recently secured approval for a 101-apartment tower on Pacific Highway, while Tian An LFD received the green light for Hammond Greens, its apartment development on the edge of the Chatswood Bowling Club.

Commercial property developer FiveX is also making its move into the residential market. Last month it lodged plans for a 61-storey tower with 490 apartments, which, if approved, would become one of the tallest residential buildings in Chatswood.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-targets-chatswood-skyline-with-61-storey-tower-after-north-sydney-plans">First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans</a>

Aqualand is also expanding its development pipeline following the launch of its luxury residential brand, Aqualand Prestige. The developer has delivered a string of high-end apartment projects across Sydney's affluent suburbs over the past decade, most recently AURA by Aqualand on Walker Street in North Sydney.

[smartcode_project:default project_id=30959 project_image_fid=292863]

It has since quietly assembled its next wave of projects.

Earlier this year Aqualand launched Boronia in Roseville, a boutique 111-apartment development on Larkin Street. The project is one of the first significant apartment developments to launch in the suburb ahead of what is expected to become one of Sydney's most active new housing precincts under the NSW Government's Low and Mid-Rise Housing reforms, which allow greater density around train stations.

[smartcode_project:default project_id=152095 project_image_fid=373685]

The developer has also lodged plans for a two-tower, 413-apartment development on Herbert Street in nearby St Leonards, further strengthening its presence across the Lower North Shore.

Beyond that, Aqualand remains behind the final stage of Barangaroo, where plans will deliver a five-hectare mixed-use precinct comprising new homes, retail, hospitality and community facilities, alongside a new Metro entrance and more than two hectares of public open space, completing the Barangaroo precinct.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/central-barangaroo-development-takes-big-step-with-concept-proposal-approval">Central Barangaroo development takes big step with concept proposal approval</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-aqualand-joins-st-leonards-apartment-party">First look: Aqualand joins St Leonards apartment party</a> 
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First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

Mass timber is becoming an increasingly popular construction material in apartment developments, but Adelaide developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> is taking the approach a step further.

At its new <a href="https://www.apartments.com.au/new-apartments/flowe-bowden-18-gibson-street-bowden-sa-5007">Flowe Bowden</a> development, the exposed cross-laminated timber (CLT) structure isn't just about reducing the building's environmental footprint. It also forms the foundation of a broader wellness strategy, influencing everything from indoor air quality and natural materials to the way residents move through and experience the building.

The 115-apartment mixed-use development, designed by Melbourne-based architecture practice Fieldwork, will occupy a prominent island site opposite Bowden Village Reserve, combining one, two and three-bedroom apartments with retail and a dedicated wellness destination.

[smartcode_project:default project_id=152022 project_image_fid=375528]

Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.

The development has been split into two residential wings connected by a naturally ventilated central breezeway, replacing traditional enclosed corridors with open-air walkways that improve natural light, encourage cross ventilation and create more opportunities for neighbourly interaction.

"Rather than treating wellness as something that only happens on the ground floor, our response integrates it throughout the building, which led us to ask what it really means to design a healthy building," Fieldwork Director Quino Holland said.

[smartcode_project:default project_id=152022 project_image_fid=375531]

The building's architecture also reflects Bowden's industrial heritage. The lower podium references the area's historic brick and sandstone buildings, while the upper levels transition to exposed CLT, allowing the timber structure to become a defining feature throughout the apartments and shared spaces.

The use of mass timber sits alongside a range of sustainability initiatives, including a fully electric, gas-free design, rooftop solar and a targeted 5 Star Green Star rating.

[smartcode_project:default project_id=152022 project_image_fid=375524]

Inside the residences, the focus remains on natural, durable materials. Blackbutt engineered timber flooring, exposed CLT ceilings, porcelain surfaces and warm timber joinery create a calming interior palette, while low-VOC finishes and responsibly sourced materials have been selected to improve indoor air quality.

Kitchens have been designed as the centrepiece of each apartment, featuring porcelain island benchtops, timber-look cabinetry and brushed steel tapware, with layouts that maximise natural light and ventilation.

[smartcode_project:default project_id=152022 project_image_fid=375530]

The more traditional interpretation of wellness comes in the form of Level Eleven, a two-storey wellness club spanning the ground floor, mezzanine and first floor.

The facility will include a gym, yoga and reformer Pilates studios, Finnish and infrared saunas, magnesium hot and cold plunge pools, and dedicated recovery spaces. Unlike many residential wellness facilities, Level Eleven will also operate commercially, allowing the broader Bowden community to access the venue while giving residents exclusive membership benefits.

The ground floor has also been designed around everyday living. A café overlooking Bowden Village Reserve will activate the street frontage, while a bike workshop with tool storage, co-working space and dog wash has been incorporated to support daily routines and encourage interaction between residents.

"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.

"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."

Flowe is positioned directly opposite Bowden Village Reserve and within walking distance of Bowden Railway Station and the Adelaide Entertainment Centre, placing future residents just minutes from the Adelaide CBD while remaining connected to one of the city's most established urban renewal precincts.

[smartcode_project_cta:default project_id=152022]

Staff reporter

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