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Personal wealth and the suburb you live in have little influence on the 'health' of your credit score, according to the latest Veda Australian Credit Scorecard.
Data sourced by getcreditscore.com.au, which analysed over two million VedaScores across 326 regions, with the New South Wales suburbs Blue Mountains and the Hawkesbury a higher average VedaScore than those in Potts Point, Elizabeth Bay and Rushcutters Bay.
In Victoria the rural area of Barwon West outperformed Carlton and South Yarra.
Luke Keller, chief executive officer, getcreditcsore.com.au said the research underlines Australia’s next generation could take a lesson or two from their older counterparts on how to successfully manage their finances and maintain a strong credit score.
"It also showed that with some of Australia’s wealthiest suburbs on the lower end of the ratings, this wealth may not be all that it seems,” he said.
"In regional Queensland, for example, the results reveal the Gen Y men of Caboolture Hinterland, who have the lowest VedaScore in Australia, could take some financial tips from their elders, with those aged 65+ in the same region holding one of the highest VedaScores in the country.
"In New South Wales, the rural areas of Blue Mountains (VedaScore: 791) and Hawkesbury (788) with their beautiful, relaxed lifestyles have a higher average VedaScore than those living the high-life in Sydney Inner City’s (738) harbourside suburbs of Potts Point, Elizabeth Bay and Rushcutters Bay.
"The surfing culture of the Central Coast also seems to help cultivate some strong credit scores in Newcastle (765) and Gosford (772), which are surprisingly higher than those living with harbour views in Sydney’s centre.
"While there are many things that go into a score, you can control how you manage it – it doesn't matter if you’re in the Darling Downs or Darlinghurst,” 
Results from the research include:
● McGraths Hill in the outer suburbs of NSW has a high average credit score (787) with a low median property price of $682,000 compared to Darlinghurst, which has a low average credit score (738) and a high median house price of $1.78 million
● Lilydale in Victoria’s Yarra Ranges tells a similar story. The suburb, which has a high average credit rating (789) and a median house price of $624,000, has a stronger credit score than South Yarra in Melbourne City (739) which has a high median property price of $1.46 million
● Queensland’s high $1.62 million median property price its average credit score of 737 is below that of Bald Hills, which has an average credit score of 777 and a median property price of $419,000
● In Western Australia the family oriented, middle class suburb of Melville (797) manage their finances better than those in Perth City (766), which includes the leafy suburbs of Crawley, West Perth and Subiaco
● The winemakers of South Australia’s Adelaide Hills (795) also show North Adelaide (Adelaide City - 735) residents who’s the boss when it comes to credit
● Young women are more creditworthy across the country than young men with Gen X and Gen Y females out performing Gen X and Gen Y males with higher average credit scores in the majority of 326 regions. (304 Gen Y, 289 Gen X) (see below)
Battle of the sexes – Who’s more creditworthy in your generation?
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="142">
Generation
</td>
<td valign="top" width="142">
Female
</td>
<td valign="top" width="142">
Male
</td>
</tr>
<tr>
<td valign="top" width="142">
Gen Y (18-34)
</td>
<td valign="top" width="142">
304
</td>
<td valign="top" width="142">
22
</td>
</tr>
<tr>
<td valign="top" width="142">
Gen X (35-44)
</td>
<td valign="top" width="142">
289
</td>
<td valign="top" width="142">
37
</td>
</tr>
<tr>
<td valign="top" width="142">
Baby Boomers (45-64)
</td>
<td valign="top" width="142">
251
</td>
<td valign="top" width="142">
75
</td>
</tr>
<tr>
<td valign="top" width="142">
Builders (65+)
</td>
<td valign="top" width="142">
156
</td>
<td valign="top" width="142">
170
</td>
</tr>
<tr>
<td valign="top" width="142">
 
</td>
<td colspan="2" valign="top" width="284">
Number of regions
</td>
</tr>
</tbody></table>
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j.ballantyne1990-6AQqhLzZaK

Wealth and status doesn’t equal a good credit rating

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One of the main determining factors of the overall strong hotel performance is the recent surge in the number of international and domestic tourists, according to CBRE’s latest report.
Australia has seen a steady increase in international visitors over the last decade, but in the last few years there has been rapid expansion, particularly from Asia.
Since 2009 the number of international visitors has increased by 44 percent, recently surpassing seven million annually and is forecast by Tourism Research Australia (TRA) to surpass ten million in 2020.
New Zealand remains the largest source of international visitors at over one million annually, but 2017 will see this group replaced by China as the number one source.
Chinese visitors already account for the largest share of international visitor nights at over 17%.
The domestic market has seen strong growth since 2013 – particularly in the leisure category – as a result of a weakened Australian dollar, but with recent gains against some major currencies, 2017 will likely see this rate of growth slow.
However, a mitigating factor will be corporate travel, particularly in states with strong growth in business activity and the broader economy.
Figure 15 illustrates the historical growth of a selection of major international sources of visitors over the last decade, and the shaded area is how TRA expects these countries to grow over the next decade.
China is by far-and-away the strongest growing market, with an average growth rate of 13% until 2025 when it is expected that over three million Chinese will visit Australia per year.
<a href="https://www.propertyobserver.com.au/images/2017/02/17/Figure%2015.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/02/17/Figure%2015.png" alt="">
Driving this growth of Chinese tourists will be the continued establishing of new airline routes which will be the key to harnessing the massive tourist potential of China.
This would be such as China Southern’s new route to Adelaide which is expected to bring in an over $20 million to the state economy annually.
The Chinese and Australian governments declared 2017 to be the “China-Australia Year of Tourism” with the objective to increase tourism between the two nations and also bilateral relations.
All Chinese airlines that currently fly directly to Australia have pledged support to the scheme and are opening up more routes outside of the major hubs of Beijing and Shanghai.
This will give Australians greater choice when visiting China, but more importantly for the hotel industry within Australia it will open up new resources of Chinese visitors.
Currently less than 2 percent of Chinese tourists visit Australia, and already we have seen how big an impact they have had on the hotel industry.
So if this number does double in the next 5-10 years then the hotel market will continue to see strong growth for the foreseeable future.
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Tourism the main determining factor of hotel industry performance: CBRE

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Victorian horse racing owner/breeder Peter Carrick and wife Trish have listed their award winning Noosa riverfront home through Adrian Reed at Dowling &amp; Neylan Real Estate.
The contemporary house by award-winning designer Chris Clout cost them $3.45 million in 2010.
They bought it from Chris's parents Peter and Janet Clout, who had paid $345,000 for the 779 sqm waterfront parcel before commissioning their son to design the home.
The only request the parents had was that it had four bedrooms with a relaxing holiday vibe.
Designed to have an Asian resort presence, the home features an indoor pebbled garden, bamboos and tropical gardens.
This article first appeared in the Weekend Australian's Mansion Australia section.
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Chris Clout award winning Noosa riverfront listing

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Australia’s tourism sector remains a shining light for the nation’s economy, with strong growth in both international and domestic visitor numbers, according to Deloitte Access Economics’ latest Tourism and Hotel Market Outlook report.
International tourism
While strong macroeconomic tailwinds eased marginally as the Australian dollar edged up, international visitor arrivals continued to grow at record pace, after accelerating over 2016.
The growth Australia is experiencing is the fastest in a generation and is seeing it outpace both global performance and travel across the Asia Pacific.
In fact, international visitation to Australia is growing at nearly three times the rate of global travel.
As Deloitte Access Economics’ Bryon Merzeo observes: “Against any reference point, the performance of the Australian tourism industry is remarkable – the fastest growth and faster than our global competitors are achieving.”
“What is especially encouraging about the growth we’re witnessing in international travel is its broad-based nature.
Although emerging Asia continued to underwrite much of Australian tourism’s strength, Asian travellers only accounted for 50 percent growth in visitor arrivals in 2016, compared to 70% the year prior.”
While markets such as China, India, South Korea and Vietnam continued their double digit growth, many of Australia’s oldest legacy markets also performed strongly, with Japan defying a sluggish local economy to post growth of 23 percent and the US shaking off economic and political uncertainty to record arrivals growth of 18 percent.
Domestic tourism
On the domestic front, the good news continues, with leisure travel sustaining its momentum to grow by 8.2 percent over the year to September.  
As Merzeo notes: “Our report confirms that, for the sixth consecutive year, more Australians are travelling at home, and they’re travelling to Australia’s leisure favourites.
Successful promotional campaigns on food, wine and coastal tourism have contributed to a 6 percent increase in domestic guests at Cairns and Hobart airports, and double digit visitor night growth for both Western Australia and Southern Australia.”
Domestic corporate travel growth, however, slowed considerably to 2.3 percent as the weaker economic performance observed over the latter part of 2016 weighed on business travel, although the strength of the domestic leisure segment was sufficient to keep overall domestic travel growth at above trend.
Hotel performance
Despite the sustained strength of Australia’s tourism sector, performance of the hotel sector was restrained over the latter half of last year.
A significant contributor to this was growth in supply. At around 4,900 new rooms, the nationwide additional supply in 2016 was almost double the 15 year average.
However, performance was also affected by variable demand side conditions.
Merzeo explains: “The weaker demand observed across many markets partly reflects the softening of corporate travel, which accounts for one in three capital city hotel nights on average and considerably more for some individual properties.
However, it also suggests that leisure travellers are increasingly looking beyond traditional options for their holiday accommodation.
“They are clearly enjoying the choice and variety of accommodation offered by the likes of Airbnb.
Leisure travellers’ use of non-traditional accommodation increased by 11.5 percent in 2016, contributing to 8.7 percent growth in use of this form of accommodation overall.
Despite this, it was Australia’s leisure destinations leading the way in terms of hotel market performance:
Tasmania tourism continues to go from strength to strength, with Hobart overtaking Perth to assume third place in the occupancy rankings
Gold Coast and Tropical North Queensland maintained strong hotel performance growth over the second half of 2016
The mantle of the nation’s highest occupancies remained with Sydney (89 percent) and Melbourne (88 percent), while strong supply growth weighed on performance in Perth and Brisbane.
Tourism outlook
Merzeo said: “The outlook for the chief macroeconomic drivers of travel and tourism remains conducive to the super growth sector continuing to re-write the record books.
“Despite increased global political uncertainty, the economic growth prospects across key source markets remain sound.”
Deloitte Access Economics forecasts international visitor trips to grow by 6.3 percent p.a. and visitor nights by 6.2 percent p.a. on average over the next three years – a marginally stronger outlook.
The growth will be led by India at 13 percent, closely followed by Indonesia and China at 10 percent.
“On current forecasts, we expect by 2020 that the value of inbound tourism from China will exceed the entire inbound international tourism market as it stood in 2000,” Merzeo said.
For domestic tourism, the story remains one of resurgent leisure travel, coupled with a transitioning economy and a corporate travel profile slowly re-orientating to the nation’s south-east.
With economic conditions expected to strengthen over the next two years, this points to a solid outlook for domestic travel with domestic trips forecast to grow by 3.3% p.a. and visitor nights to grow by 3.2% p.a. on average over the next three years.
Hotel outlook
A number of demand-side factors, including shifting corporate travel trends, historically high international arrivals growth and the increasing use of non-traditional accommodation options, are bearing heavily on the outlook for hotel markets.
However, the single biggest influence on the performance outlook is supply.
Merzeo said: “After years of record occupancies and rising room rates, investors and developers have finally responded.
The sizeable development pipeline which has emerged in Perth and Brisbane and which saw large additions to inventories in 2016 is being replicated in markets such as Sydney, Hobart and Melbourne, albeit to a lesser degree.”
Over the next two years, another 12,800 rooms are expected to come online, resulting in the nation’s hotel supply growing 2.5 times faster than its long term average rate.
In aggregate, Australian stocks are expected to expand by 122 properties and 15,800 rooms to December 2019.
The total pipeline of tourism-related investment stands at $29 billion, up from $17 billion three years ago.
Two-thirds of the investment pipeline is accommodation.
As Merzeo notes: “Yes, demand growth will still outpace growth in supply nationally.
But the gap between the two has narrowed markedly over recent years and the number of markets where supply growth is outpacing demand has increased.”
Room rates are expected to grow at an average of 2.5 percent p.a. for the next three years to $170 per night, chasing the 10 year historical average growth rate of 2.6%, while revenue per available room (RevPAR) is expected to grow by 3.1% to a national average of $123 by 2019.
Markets enjoying recent buoyant performance such as Hobart, Melbourne and, to an extent, Adelaide, have now established a solid pipeline of hotel developments, which will alter the demand/supply dynamics over the medium term.
“In a clear demonstration of the economics of hotel development at work, investors have clearly responded to the commercial opportunities in these markets,” says Merzeo.
Perth and Brisbane hoteliers will continue to feel the double-pinch of increased competition from new entrants, along with moderate demand growth compared to the mining boom peaks of five years ago.
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Tourism growth a shining light as hotel development pipeline finally responds to record occupancies

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Enquiries are streaming in from across the globe following the Victorian Government’s conditional approval of Crown Resorts and Schiavello’s super-prime Melbourne residential offering One Queensbridge late last week.
The development, designed by London-based architectural firm Wilkinson Eyre, will comprise a 388-room, luxury, six-star hotel and approximately 700 apartments in addition to a unique publicly-accessible restaurant and lounge located at the top of the tower.
The sales and marketing for One Queensbridge is being led by Knight Frank’s Director, Sales &amp; Marketing One Queensbridge, Erin van Tuil and the firm’s global, industry-leading project marketing team, in collaboration with Crown Resorts and Schiavello.
According to Ms van Tuil, an influx of enquiries has already been received from across the globe.
“Since the Victorian government’s conditional approval announcement late last week, we have received many enquiries from a range of global locations, including Australia, Asia Pacific, the UK and the Middle East.
“One Queensbridge is creating a new super-prime residential market in Australia and putting us on the global map for luxury property.
There is a significant international market for properties of this calibre.
“Wealthy investors are more mobile than ever and investment flows are targeting new markets – including Australia.
“Considering uncertainty in global markets, following on from Brexit and the US Presidential Election last year, it is clear that people are looking to safe-havens such as Australia for investment and they want to deal with established global wealth advisers like Knight Frank to do so.”
Knight Frank’s Director, Residential Research, Australia Michelle Ciesielski said Knight Frank’s latest figures show a growing global population of ultra-high net worth investors.
“According to our latest figures, there are now 187,468 ultra-high net worth investors globally – marking a 61% rise from a global ultra-high net worth investor population of 116,800 in 2005.
“By 2025, the global population of ultra-high net worth investors is set to rise by 41% to 263,483. This market is growing, and they will be looking to invest in the best-quality offerings.”
According to Knight Frank’s latest <a href="https://kfcontent.blob.core.windows.net/research/323/documents/en/q3-2016-4201.pdf" target="_blank">Prime Global Cities Index </a>for Q3 2016, which monitors and compares the performance of prime residential prices across key global cities, in Australia Melbourne came sixth on the list with a 10.2 per cent increase over the year to September 2016. Sydney was ninth on the list with an 8.1 per cent increase over the same time.
Ms Ciesielski said, “Melbourne overtook Sydney in Q3 2016 to be the best performer in Australia for prime residential, ranking in sixth place globally.
Price growth in the Sydney and Melbourne prime residential markets, although lagged, has generally followed an upward trajectory in the Australian share market post the Lehman’s collapse.
Since this time, the upswing in the share market along with other stimulus such as  a stable political environment and favourable exchange rates have renewed confidence in the prime end of the market,” said Ms Ciesielski.
“As the world’s most liveable city for the past 6 years Melbourne has a track record of attracting buyers from the Asia Pacific region, but our Global research, the Wealth Report, shows an increasing interest and wealth flow into Australia from across the globe,” concluded Ms van Tuil.
For more information or to enquire, visit <a href="https://www.onequeensbridge.com/" target="_blank">https://www.onequeensbridge.com/</a>.
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Influx of global enquiries after One Queensbridge approval

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The NSW service station market has seen resurgence in both new sites being constructed and investor interest, according to Knight Frank’s latest Research report, NSW Service Station Insight: February 2017.
Findings of the report were discussed by a panel of experts at a Knight Frank event in Sydney last night.
The panel included members from Rostron Carlyle, Consara, Holden Capital Finance and UCB, alongside Knight Frank’s Director, Service Stations Jason March and Director, Research &amp; Consulting Paul Savitz.
According to Mr March, “There is a strong appetite for service stations in Australia.
This asset class is no longer just for mum and dad investors.
They have evolved and have a diverse range of buyers now seeking to add service stations to their investment portfolios and superannuation funds.
“The appeal to investors in recent years has been underpinned by long-term lease covenants, with fuel companies providing stable income with relatively low costs associated with these assets.
“The demand for service stations will remain high, as competition in the sector continues to grow and investment yields remain attractive to developers and investors alike,” said Mr March.
According to the report, service station sales in NSW totalled $175.5 million in 2016 – 48 per cent above 2015 levels.
“The development of new service stations in NSW is increasing with 38 new-to-industry (NTI) sites established in 2015 and 2016.
Development has been concentrated in key growth corridors where population growth has been significant,” said Mr March.
In the latest deal negotiated by Mr March, a Junction Hill service station in Northern NSW has sold for $1.3 million plus GST to Shane Punton PTY LTD.
Located on 5 Casino Road, Junction Hill, the 1,255 square metre Caltex station received strong interest with multiple offers. Mr March said that multiple offers were received for the property.
Prior to this, recent sales by Knight Frank further up the coast in south-east Queensland include Puma Loganlea, which sold for $6 million; BP Capalaba East for $3.65 million; Neumanns Alexandra Headlands for $2.5 million; Choice Coopers Plains for $2.2 million and BP Kilcoy for $2.5 million.
According to Mr Savitz, the rationalisation of sites and industry amalgamations have been significant over the past decade, as traditional operators began to focus on upstream activities – making way for the entry of the supermarket chains in the early 2000s.
“With secure, globally-recognised tenants offering solid leasing covenants and long-term cash flow, interest in the service station sector has grown rapidly in recent years.
Over the past two decades, the service station industry has changed markedly with traditional fuel providers reducing retail operations to focus on the more profitable upstream oil and gas sector.
“Once dominated by the likes of Shell, BP, Mobil and Caltex, the entry of supermarket brands raised the stakes – ultimately increasing competition and altering the traditional model of what consumers
are being provided.”
Mr Savitz said that in line with the population, NSW accounts for the largest number of service stations in Australia at 30 per cent; moderately above VIC and QLD at 22 per cent respectively.
“Service station ownership in NSW is highly concentrated within a select group of operators, with the four largest providers by brand accounting for 50 per cent of NSW service stations.
Caltex, BP, Shell-Coles Express and 7Eleven are the largest players.
“Through industry amalgamations, the rationalisation of sites and a larger volume of fuel being sold from each site, the number of petrol stations in operation within Australia has declined to approximately 6,400 – down from 8,370 in 2000 and around 20,000 in the 1970s.” 
Mr March said the ownership structure of the service station sector is anticipated to change further over the next five years.
“Coles and other independent operators are expected to increase their presence in the industry.
In the short term however, an interesting period lies ahead as BP’s purchase of the Woolworths service station business flows through and both established and new industry entrants look to gain market share,” said Mr March.
To meet the growing demand for service stations across Australia, Knight Frank has recently expanded its service stations team, with Knight Frank’s Associate Director, Service Stations, Kim Munro joining the firm at the start of this month.
“Kim comes to Knight Frank with extensive experience in the fuel industry and we’re confident he’ll help us continue to be one of the leaders in service station sales in Australia,” concluded Mr March.
A retail service station at <a href="https://www.realcommercial.com.au/property-retail-nsw-finley-502249202" target="_blank">16 Murray Street</a>, Finley (above) has been listed for auction.
Similarly a retail service station at <a href="https://www.realcommercial.com.au/property-retail-nsw-ingleburn-502246638" target="_blank">Lot 8, 24-30 Lagonda Drive</a>, Ingleburn (below) has been listed for sale.
<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/2017/02/22/Lot%208%2024-30%20Lagonda%20Drive.jpg" alt="">
A retail service station at <a href="https://www.realcommercial.com.au/property-retail-nsw-forster-502249198" target="_blank">86 Macintosh Street</a>, Forster (below) was sold.
<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/2017/02/22/86%20Macintosh%20Street.jpg" alt="">
Similarly a service station at <a href="https://www.realcommercial.com.au/property-retail-nsw-towradgi-502174362" target="_blank">162-166 Pioneer Road</a>, Towradgi (below) was sold for $5,615,000.
<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/2017/02/22/162-166%20Pioneer%20Road.jpg" alt="">
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NSW service station market sees resurgence

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Australia’s retail sales performance was weaker in 2016, averaging 3.2% growth compared to 4.3% in 2015, according to CBRE’s latest report.
Most retail categories are underperforming their long-term averages.
<a href="https://www.propertyobserver.com.au/images/2017/02/16/Figure%207.jpg" target="_blank">Click to enlarge</a>
<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/2017/02/16/Figure%207.jpg" alt="">
A two-tier market is evident with international retailers expanding while some incumbent, domestic retailers are under pressure.
“Conditions in 2017 are expected to be slightly more challenging than in 2016; we expect only moderate rent growth of between 1%-2% across most retail property categories,” the report stated.
"Australian retailers have faced various challenges in the post-GFC period. First the GFC and then weak trading conditions from 2010 to 2013 caused many retailers to reduce operating costs and undertake consolidation.
"Then as these challenges were beginning to fade, the last three years saw new competition aggressively emerging from international brand entrants, who continue to gain market share, resulting in profit margin pressures for domestic retailers."
Competition has seen closure of over 10,000 retail businesses since 2010. The success of some international brands has been their ability to offer diversity of products at competitive pricing.
<a href="https://www.propertyobserver.com.au/images/2017/02/16/Figure%208.jpg" target="_blank">Click to enlarge</a>
<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/2017/02/16/Figure%208.jpg" alt="">
The entry of fast fashion international retailers has coincided with weaker sales performance of incumbent department stores and discount department stores over the past three years.
In the face of tougher conditions, some domestic retailers have responded by altering their offering to remain competitive.
For example, Myer and David Jones have closed underperforming stores and have adopted new store formats (downsized stores, fewer products and better quality) for existing and new stores.
Other retailers including some discount department stores have been slower to adapt and are reportedly facing less certain futures.
"A combination of factors are acting as headwinds for retail," the report says.
Over the past decade spending per capita grew a mere 0.6% per annum, and households aren’t funding consumption with debt to the extent they were prior to the GFC."
<a href="https://www.propertyobserver.com.au/images/2017/02/16/Figure%2010.jpg" target="_blank">Click to enlarge</a>
<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/2017/02/16/Figure%2010.jpg" alt="">
Population growth slowed to 1.4% annually over the last two years compared to 2% between 2004-2013.
"The combination of these factors will contribute to slower retail sales growth in 2017, and with an expected increase in international brands, domestic retailer profit margins are likely to incur further pressure,” the report stated.
"We have already seen profit margins fall for discount department stores (except for Kmart which has reset its strategy), apparel retailers and supermarkets during the past five years."
According to company reports of most listed retail companies, the sectors with the most negative outlooks are supermarkets and homewares and department stores.
Health and beauty and sporting retailers have a more positive outlook. Although retail trade growth was lower overall in 2016, there was positive news in the increase in spending in cafes, restaurants and takeaway food.
<a href="https://www.propertyobserver.com.au/images/2017/02/16/Figure%209.jpg" target="_blank">Click to enlarge</a>
<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/2017/02/16/Figure%209.jpg" alt="">
This suggests a preference shift to eating out, and this category has also benefitted from higher volumes of international tourists.
Lifestyle preferences such as convenience and shopping experience (especially amongst younger demographics) are driving upgrades in food courts and higher quality food offerings.
As a result, eating out is on average costing more but is being supported by consumer preference.
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International brands putting local retailers under the pump: CBRE

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Brisbane’s housing market continues to record a sustainable record of gains as house values rises, but unit values have declined, according to CoreLogic’s latest video.
For more information click <a href="https://www.corelogic.com.au/housing-update/#indices-brisbane" target="_blank">here</a> to see the video.
{qtube vid:=-__aEo1b58s}
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Brisbane house values continue to grow: CoreLogic video update

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Australia's 7-Eleven co-founder Beverley Barlow and husband Douglas have sold two properties possibly securing over $12 million.
The most recent was their <a href="https://www.realestate.com.au/sold/property-house-qld-noosa+waters-123498754" target="_blank">Paul Clout designed Noosa waterfront</a> (above) that cost the couple $535,000 in 1999.
Initially listed in September, the four bedroom home was taken off the market in November as a buyer failed to emerge at the $3.4 million asking price.
The price remains undisclosed. 
<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/2017/02/22/Brighton.jpg" alt="" width="451" height="308">
She sold her <a href="https://www.jacobsba.com.au/2-myrtle-street-brighton/" target="_blank">Brighton home</a> (above) early last year after spending $20 million for a nearby waterfront.
The multi-award winning manor with home cinema and swimming pool fetched $6.5 million after being listed since 2015.
 
 
 
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7-Eleven co-owner sells Noosa and Melbourne properties

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The Reject Shop's net profit slipped 4.4 percent to $17.5 million in the first half of 2017 as weak consumer sentiment reduced same-store sales.
Total sales rose 2 percent to $432.9 million but same-store sales fell 0.5 percent.
There had been a modest 0.3 percent gain in same-store sales in the September quarter, compared with 6.1 percent in the year ago period.
It was offset by a 1.2 percent fall in the December quarter against 3.2 percent a year earlier.
Chief executive Ross Sudano said the discount variety retailer was particularly challenged in Western Australia.
Sudano noted that continued underemployment and declining housing prices contributed to negative same-store sales.
Its sales on the Eastern Seaboard were flat.
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Perth's declining housing market hurts The Reject Shop 

Apartment buyers in New South Wales are set to gain a decade of insurance-backed protection against major building defects, after the NSW Parliament passed the Fair Trading and Building Legislation Amendment Bill 2026.&nbsp;

The Bill establishes decennial defect insurance, known in the market as Latent Defects Insurance (LDI), as an alternative to the existing two-year strata building bond. It cleared the Legislative Council with amendments on Tuesday evening (August 4, 2026), with the Legislative Assembly agreeing to those amendments shortly after.

Under the reform, eligible developers can satisfy their statutory bond obligation by taking out an approved decennial-style policy that gives owners 10 years of cover for major structural defects from completion, claimable directly, without first having to pursue developers or builders through costly legal action.&nbsp;

The change forms the final tranche of amendments arising from the 2021 statutory review of the Strata Schemes Management Act 2015 and related legislation.

Resilience Insurance, which originated the cover in Australia and has delivered it in NSW since 2022, welcomed the passage and credited the NSW Government for delivering it.

“This is protection apartment buyers have needed for a long time, and the credit for delivering it belongs to the NSW Government,”&nbsp;said Corey Nugent, CEO of Resilience Insurance.

“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into. Reform like this is what good, evidence-based regulation looks like.”

Resilience has delivered LDI in NSW since 2022, protecting thousands of apartments, giving the State, and now the country, real-world evidence of how decade-long, no-fault protection works in practice.

The reform also places NSW within a wider national shift.

NSW is the third jurisdiction to put decennial cover into law. The ACT legislated for it in 2024, with the scheme taking effect in late 2025, and Victoria passed its own framework on 17 June. Between them, the three cover the majority of Australia's apartment market.

The reform commences once the legislation is proclaimed, which is expected in the coming weeks. From that point, developers of Class 2 residential apartment buildings can meet their statutory obligation with an approved decennial policy in place of the bond.

Buyers who purchased into projects that took out the cover early are among the first in the country to take keys to apartments carrying decade-long structural protection.

“With the legislation passed, the focus now turns to making it work for buyers,”&nbsp;Nugent said.

“There are already thousands of apartments in NSW covered by this insurance, bought by developers who moved early. The question every buyer should be asking in a display suite is a simple one: does this building come with 10-year defect cover, and who stands behind it?&nbsp;

“We look forward to working with the Government and the Building Commission in coming weeks as the framework moves to implementation, and to sharing what we have learned over the past four years so the protection reaches owners as smoothly and quickly as possible.”

Other states are working through their own reform programs. Western Australia has indicated that decennial cover is within consideration a later stage of its reform sequence, and Queensland has been examining the settings as it looks at the development pipeline ahead of the 2032 Olympics.

Resilience Insurance acknowledges the NSW Government’s continued focus on strengthening consumer protection while supporting housing delivery across the State.

Fast Facts: What the reform means

<ul style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Proven at scale:&nbsp;Decennial cover has operated in NSW since 2022, protecting thousand of apartments.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">10 years of cover:&nbsp;Protection for major structural defects runs for a decade from completion, claimable directly and with no legal action required.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">An alternative to the bond:&nbsp;Eligible developers can meet their statutory obligation with an approved decennial-style policy in place of the 2% strata building bond.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Part of a national shift:&nbsp;The ACT has had decennial provisions in force since 2025 and Victoria passed its framework in June. NSW now joins them.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">No-fault, first resort:&nbsp;Owners corporations claim directly from the insurer without first having to establish who is liable for the defect.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Cost-competitive:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the 2% bond while offering broader, longer protection.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Market position:&nbsp;Resilience originated LDI in Australia and has delivered it in NSW since 2022.</li>
</ul>

Fast Facts: What is Resilience LDI?

<ul style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Resilience Latent Defects Insurance (LDI):&nbsp;Covers major structural defects for 10 years from completion.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Consumer-first:&nbsp;Direct claim access, no need for lengthy legal action.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Cost advantage:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the traditional 2% Strata Bond while offering broader protection.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Market leader:&nbsp;&nbsp;Resilience Insurance originated LDI in Australia and is the national market leader.</li>
</ul>

Joel Robinson

NSW parliament passes 10-year defect insurance laws for new apartment buyers

Builder-developer <a href="https://www.apartments.com.au/developers/mcnab-developments">McNab</a> has wasted little time reshaping one of South Brisbane's most significant undeveloped apartment sites after acquiring the property earlier this year.&nbsp;

McNab has lodged plans to scrap an existing approval for two 30-storey towers and instead deliver a single 28-storey residential building, preserving part of the site for a future development opportunity.

The proposal, lodged over <a href="https://www.apartments.com.au/new-apartments/64-peel-street-south-brisbane-qld-4101">64 Peel Street and 9 Cordelia Street</a>, is for a residential-led mixed-use development comprising 124 apartments above a landscaped podium, alongside a boundary realignment that preserves part of the land for a future residential project.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="743bf564-3f8f-45fc-b8d3-bbf18f5b628f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20Peel%20st%20podium.png?VersionId=EhCxGrVn_VFH3qTbKnI4WppGwaMnOn0t" />

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a>, the development will deliver 119 two-bedroom and five three-bedroom apartments across 23 residential levels. A five-level podium will accommodate 135 car spaces, while the ground floor will include a 66 sqm commercial tenancy, an activated residential lobby with work-from-home spaces, and a publicly accessible landscaped plaza linking Cordelia and Peel streets.&nbsp;

Communal amenities will span Level 6 and the rooftop, including indoor and outdoor recreation spaces, a swimming pool, barbecue facilities, kitchen and dining areas, lawn space, sauna, steam room and yoga facilities.

The application also proposes a boundary realignment to create a standalone 1,290 sqm development lot while retaining an adjacent parcel for future redevelopment, allowing the balance of the site to contribute additional housing over time.

Hayball said the architecture has been shaped by the site's elevated corner position at the intersection of Peel and Cordelia streets and Brisbane's subtropical climate.

The design incorporates generous landscaped setbacks, a masonry podium wrapped with planting, large north-facing balconies, and a slender tower profile intended to maximise natural light, cross ventilation and long-range views. The rooftop has been conceived as a wellness-focused retreat overlooking Brisbane, with amenities positioned to capture views towards Mount Coot-tha and the CBD.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="c5f99e84-6ad8-4a87-82d1-869685b754d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20tower%20perspective.png?VersionId=Gw0IuJaSAlk.tvGBxInhZOcQAdIB..2b" />

The planning submission positions the proposal as a response to both changing market conditions and Brisbane's Kurilpa Sustainable Growth Precinct planning reforms.

McNab acquired the site after the previous approval was granted, with the existing scheme no longer reflecting current residential market demands, economic conditions, construction challenges, construction efficiencies or the quality of development outcome now being pursued, the planning report noted.

McNab continues to expand its residential development pipeline across Brisbane and the Gold Coast. The developer recently launched The Tannery in West End, securing more than 60 per cent of apartments before the project's public release. It is also delivering Elements Budds Beach in Surfers Paradise and Lucia Highgate Hill, an eight-apartment boutique development overlooking the Brisbane River.

McNab resets decade-old South Brisbane approval with 124-apartment tower

A steeply sloping Bellevue Hill site is set to accommodate a new mid-rise apartment development, with plans lodged for 20 homes that respond to the site's dramatic topography.

The proposal for the consolidated land at <a href="https://www.apartments.com.au/new-apartments/138a-140-bellevue-road-bellevue-hill-nsw-2023">138A-140 Bellevue Road</a> has been designed by Sydney architecture practice Common Office, which has used the site’s substantial fall to distribute the building’s scale and unlock 20 apartments without presenting the full height to the street.&nbsp;

“The unique design strategy leverages the site’s substantial topographical fall to facilitate increased density, presenting a seven-storey profile to Bellevue Road while rising to 10 storeys at the rear,” Common Office said in its architectural design report.

The apartment mix spans one, two, three- and four-bedroom residences. Four two-bedroom apartments are designated as affordable housing, while the plans also include two adaptable dwellings. The mix is majority three-beds, with the typical three-bed apartment offering around 144 sqm internally, with balconies of around 15 sqm.

The affordable housing component represents 15 per cent of the residential floor area and allows the project to access additional height and floor space under the NSW Government’s in-fill affordable housing provisions. The site also falls within the inner area of the Low and Mid-Rise Housing Policy because it is within 400 metres walking distance of Double Bay Town Centre.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="b1230d0f-3bfa-4a11-abaf-0928c66ef345" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da.png?VersionId=dZeMK3P.OutGjN8ycjsxm8uNsj_QFWQv" />

Common Office has arranged the building around a masonry podium and a lighter upper volume, drawing on two recurring elements of Bellevue Hill’s established architecture: sandstone bases and the vertical proportions of local Inter-war Art Deco apartment buildings.

“The proposal is governed by a holistic design language that reconciles the solid horizontal masonry of the neighbourhood’s podiums with the elegant verticality of its Art Deco heritage,” the architect said.

“The building maintains a consistent rhythmic logic utilising deep recesses and a sophisticated material transition to break down the 10-storey scale into a series of articulated, human-scale volumes.”

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="0147f503-1af1-4d51-97fb-c2f1cba63a9d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20bldg.png?VersionId=GoW7q3NlK67OpnePXhk7zvklrlKb72Qc" />

Large-format sandstone tiles will define the lower levels, establishing a robust base that negotiates the change in elevation from Bellevue Road. Above, red-tinted precast concrete frames, recessed balconies, anodised aluminium screens and expanded metal details will create a more vertically expressed façade. Integrated planter beds will introduce greenery across balcony edges and recessed sections of the building.

The elongated northern façade has been divided into three recessed vertical masses to reduce its perceived length. Triangular window elements and metal privacy screens reference the geometry of nearby Art Deco buildings while controlling overlooking toward surrounding homes. The southern elevation will incorporate further privacy screening, landscaped edges and deep balconies to maintain light and ventilation.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="e8679cf1-18bc-4447-8a0f-0052b94ab83c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da%20rooftop.png?VersionId=5SQqQqRFf76rvE2p1TbxJSweMN70AIbc" />

Private and communal landscaping is distributed throughout the development. A landscaped garden apartment is positioned within the lower portion of the site, while a communal terrace on Level 5 will include a central timber deck, barbecue facilities, resident planting plots and areas for outdoor dining and informal gatherings.

Common Office described the terrace as an elevated sanctuary designed to capture district views and sunlight. Its planting strategy incorporates endemic species associated with the Eastern Suburbs Banksia Scrub, extending the landscape vertically through the building and providing habitat for local flora and fauna.

A second communal outdoor area is proposed at roof level, with built-in seating, paved gathering areas and perimeter planting.

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction. Positive Investment Enterprise is delivering the 16-apartment Kew Palm House on Birriga Road, while Chanine Developments is also under construction at Florian, a 36-apartment project on Banksia Road.

&nbsp;

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction.

First Look: Apartment development pitched for Bellevue Hill, Double Bay fringe

South Brisbane's apartment pipeline continues to build momentum, with <a href="https://www.apartments.com.au/developers/trk-property-group">TRK Property Group</a> lodging plans for a 161-apartment tower on Montague Road as developers accelerate investment across the Kurilpa Sustainable Growth Precinct.

The proposal for 176–186 Montague Road would replace an existing office building with a 20-storey residential tower designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, adding to a growing pipeline of high-density projects reshaping one of Brisbane's fastest-evolving inner-city precincts.

The project has been conceived as a "living building", featuring a flowing tower form, extensive vertical landscaping, and generous communal spaces that respond to the evolving Kurilpa Sustainable Growth Precinct.

TRK Property Group Development Director Matt Kan said the project reflected the confidence developers have in South Brisbane's long-term future.

"South Brisbane is entering an incredibly exciting period, and we see Montague Road sitting right at the heart of that evolution," Kan said.

"With the former Visy site directly opposite us and significant investment planned throughout the broader Kurilpa precinct, there is a real sense of momentum around this part of the city and what it will become over the coming years.

"For TRK, this is an opportunity to be part of that next chapter and deliver a project that responds to where the precinct is heading, while contributing to the continued evolution of Brisbane's river edge."

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="590fe1ad-f892-4446-a679-80e33a16d029" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20tower%20facade.png?VersionId=uOJStrcKpyHFcPE1w6_9SMAFzVMCcZll" />

The scheme includes a mix of one, two, three and four-bedroom apartments, incorporating multi-purpose rooms in selected residences to provide additional flexibility for home offices or expanded living areas. The proposed mix comprises 15 one-bedroom, 13 one-bedroom plus MPR, 73 two-bedroom, 26 two-bedroom plus MPR, 30 three-bedroom, and four four-bedroom apartments.

Rather than adopting a conventional rectilinear tower, COX Architecture has developed a sculpted form inspired by the movement of the Brisbane River.

"The proposal has been designed by COX Architecture as a 'living building' that responds to the site's riverine setting, floodplain history and evolving urban context within the Kurilpa Sustainable Growth Precinct," the planning report states.

"The architectural form draws from the fluid nature of the Brisbane River, with a curved and undulating tower form that creates a varied architectural edge and avoids a conventional rectilinear tower expression."

The podium has also been designed as an architectural feature rather than a conventional parking structure, with cascading planting, screening and natural-toned materials softening its appearance. Resident parking is elevated above ground level to address the site's flood constraints, while habitable apartments sit above flood planning levels. Upper-level communal facilities are designed to accommodate shelter-in-place arrangements during major flood events.

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="01fa15d0-90df-46c7-9555-7941fc45373c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20podium.png?VersionId=mHyua.w1pHGBt9qEdWzrlsv.leztUCwO" />

Communal amenity is a major focus of the proposal. Around 1,815 sqm of shared resident space is proposed across the ground floor, level 19 and the rooftop, including co-working areas, indoor and outdoor recreation spaces, wellness facilities, dining and gathering areas, lawn spaces, a rooftop pool and spa, and extensive landscaping. At street level, a landscaped forecourt and approximately 345 sqm of publicly accessible open space along Montague Road are intended to improve the pedestrian experience while activating the building's frontage.

The development will provide 163 car spaces, including 152 resident bays and 11 visitor spaces, together with 144 bicycle spaces incorporating resident storage, visitor parking, bicycle maintenance facilities and e-mobility charging infrastructure.

The site sits within one of Brisbane's fastest-changing inner-city precincts, less than two kilometres from the CBD and within easy reach of South Bank, West End, the Queensland Cultural Centre and extensive public transport connections. The Kurilpa Sustainable Growth Precinct planning framework is encouraging higher-density residential development to help meet Brisbane's housing supply targets while supporting walkable, transit-oriented neighbourhoods.

TRK Property joins South Brisbane apartment surge with Montague Road tower plans

Article summary

<ul data-end="785" data-start="311">
	<li data-end="459" data-section-id="5hbcyr" data-start="311">Pikos Group has released the five-penthouse collection at Skye Kangaroo Point, headlined by a two-storey sky home spanning more than 1,000 sqm.</li>
	<li data-end="561" data-section-id="1p7lq8n" data-start="460">Early buyer interest suggests the residences could set a new Queensland apartment price record.</li>
	<li data-end="667" data-section-id="1y70z0l" data-start="562">The collection includes four move-in ready penthouses and the highly customised Skye One residence.</li>
	<li data-end="785" data-section-id="yvm0y1" data-start="668">The release caps one of Bri​sbane's most ambitious luxury apartment developments overlooking the Brisbane River.</li>
</ul>

<hr data-end="790" data-start="787" />
Pikos Group has released the five-penthouse collection at its <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye by Pikos</a> development in Kangaroo Point, with early buyer interest indicating the flagship residences could eclipse every apartment sale previously recorded in Queensland.

The collection crowns the luxury riverfront development with five residences, including four completed penthouses and Skye One, a two-level sky home spanning more than 1,000 sqm that will be tailored to its eventual owner.

[smartcode_project:default project_id=90059 project_image_fid=374075]

Wanting to offer a fully customisable home, Pikos is offering Skye One as a blank canvas, allowing the buyer to work alongside the developer's design team to customise the home's layout, finishes and internal spaces.

The residence will feature a 247 sqm private rooftop terrace with its own swimming pool, sauna, steam room, outdoor kitchen and multiple entertaining areas overlooking the Brisbane River and CBD skyline.

The remaining four penthouses have been completed and are ready for immediate occupation, each offering four bedrooms, expansive open-plan living areas, soaring ceilings and private lift access.

[smartcode_project:default project_id=90059 project_image_fid=374059]

One of the defining features throughout the project is its use of Roman Classic Travertine, with more than 20,000 sqm of the natural stone imported from Italy after being personally selected by Pikos Group Founder and Executive Director Pedro Pikos, interior designer Julie Williamson and third-generation stone specialist Mario Caucci.

Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.

"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.

"Our ambition is to create places that become more valuable with time, enrich the lives of generations, and stand as timeless landmarks long after we've stepped away."

[smartcode_project:default project_id=90059 project_image_fid=374060]

Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.

"Materiality tells the story of a place," Williamson said.

"We looked to the movement of the Brisbane River, the texture of the cliff face and the warmth of the surrounding landscape to create interiors that feel understated, enduring and unmistakably Brisbane."

Positioned above the Kangaroo Point cliffs, Skye places residents within walking distance of Howard Smith Wharves, South Bank and James Street while offering uninterrupted river and city views.

[smartcode_project_cta:default project_id=90059]

Staff reporter

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