<html><body>
A luxury full-floor apartment in Kangaroo Point has been listed for auction by Place estate agents Simon Caulfield and Courtney Maguire. 
The auction is scheduled for April 1, 2020 in East Brisbane. 
The <a href="https://www.realestate.com.au/property-apartment-qld-kangaroo+point-133142814" target="_blank">fourth-floor, Scott Street apartment</a> is located in the renowned Walan Residences, capturing unobstructed views of the river and city frontage. 
The 377 sqm residence is fitted with timber flooring, feature timber veneer, travertine stone and Carrara marble. 
The four-bedroom, three-bathroom luxury home features a 72 sqm covered balcony with a built-in BBQ and under-bench Liegherr fridge.
The master ensuite is positioned in its own wing, and complete with a custom wardrobe joinery, dual vanity, marble bench tops, a dual shower and travertine walls, as well as a freestanding bathtub with South Bank views.
The gourmet kitchen is complete with a breakfast bar, high-end Miele appliances, a Zip tap system, butler's pantry, a dual Liebherr refrigerator, and an additional wine fridge.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Full floor Kangaroo Point apartment up for auction

<html><body>
<div class="page-header grey-wedge js-page-header">
<div class="container-fluid block-relative">
<div class="row">
<div class="col-sm-6 col-md-6 grey-bg">
<div class="col-md-12 col-lg-10 page-header-content">
EXPERT OBSERVER
A deeper awareness of social and environmental issues and their interdependencies with financial performance is prompting major businesses, like Westpac and Singapore's Olam International, to elevate the importance of sustainability in their corporate strategies.
The world's population is forecast to hit 9.7 billion by 2050, which means there will billions more mouths to feed over the next two decades. This rapid population growth is occurring in parallel with the challenges of resource scarcity, climate change and decent livelihood.
One organisation leading the response to these calls - and creating an example for corporate sustainability in action - is Olam International, a Singapore-based, global food and agri-business that supplies a broad portfolio of products – from cotton to cashew nuts – to over 19,800 customers.
</div>
</div>
</div>
</div>
</div>
<div id="article-details-page" data-component="article.details.page">
<div class="article-container column-container">
<div class="container-fluid">
<div class="row">
<div class="col-sm-9">
I recently had the privilege of hosting an in-depth discussion at Westpac’s Singapore co.lab with Olam’s Group Chief Financial Officer, Neelamani Muthukumar. He shed light on how Olam has become a pioneer in the field and provided valuable insights for companies aiming to bring sustainability closer to the heart of their operations, including through the use of sustainable finance.
Just why has this become so important? As Muthumkumar pointed out, sustainability is presenting companies with a host of new pressures as well as opportunities. For instance, as a society, we now increasingly demand granular information on the food we consume. A range of studies have revealed staggering facts about the social and ecological footprint of the agriculture industry, making people question the methods employed and their long-term viability. Consider these statistics: producing one kilogram of beef requires <a href="https://sites.psu.edu/foodsustainability/2018/02/11/our-water-footprint/" target="_blank">15,415 litres of water</a>; about 25-30% of food is wasted and not eaten; and as much as <a href="https://www.ipcc.ch/srccl/chapter/technical-summary/" target="_blank">37% of total greenhouse gas emissions</a> are attributable to the food system.
The urgency surrounding climate change and resource management is also driving the expansion of ESG (environmental, social and governance) investing. More investors are factoring ESG criteria, such as climate change, modern slavery and cybersecurity, into their investment decisions in an effort to protect and create financial and societal value. 
This trend is also powering a boom in sustainable finance. For example, global issuance of green, social and sustainability bonds surged about 40% in 2019, with a combined issuance reaching US$290 billion. In Australia, the value of green or sustainability linked loans grew approximately 14 times, to US$2.3 billion.
Despite this strong growth, we anticipate further growth in the sustainable finance market. Preliminary data from a survey on sustainable finance commissioned by Westpac and conducted by the Economist Intelligence Unit (EIU), previewed at the co.lab event, showed 77% of companies polled intend to utilise some form of sustainable financing within the next year.
Investors are similarly bullish. In the same survey, 68% of investors plan to increase their allocation of funds in sustainable investments over the next 12 months.
Embedded in the business model
As Muthukumar explained to our audience, these realities mean sustainability should not be a last-minute add-on to any business model. At Olam, “sustainability is integrated into the strategy formulation, so it is not a distinct piece,” he said. “We believe that the agricultural and food systems in the world today are broken, and we want to fix that. We think about how we can produce more food with fewer natural resources and improve biodiversity so that we leave something for future generations.”
Known as <a href="https://www.olamgroup.com/content/dam/olamgroup/homepage/homepage-pdfs/Olam-annual-report-fy18-3-in-1.pdf" target="_blank">Olam 2.0</a>, the initiative re-imagines Olam as a ‘purpose-led company’ with an emphasis on three main outcomes: prosperous farmers and food systems; thriving communities; and regeneration of the living world. These overarching goals have determined 10 priority areas which include economic opportunity, gender diversity and safer workplaces.
Setting industry and regional benchmarks
By establishing measurable and ambitious sustainability targets, Olam was able to secure Asia’s first sustainability-linked loan in 2018. The three-year revolving credit facility, worth US$500 million, was based on the company meeting specific key performance indicators as assessed by specialist ESG firm Sustainalytics. The metrics are tested annually and if the KPIs are met, then there is a subsequent reduction of the loan’s interest rate.
Last year, Olam successfully tapped the market once again with a second KPI-linked loan for US$525 million. According to Muthukumar, third-party verification assures stakeholders that the company is meeting its sustainability targets and the reduction in financing cost incentivises executives to embrace non-traditional financing options without fear of reputational damage. As a result, Olam aims to make 20% of its debt portfolio sustainability-linked by the end of 2020.
Besides examining its own activities, Muthukumar went on to describe how Olam positions itself as a constructive partner in the wider industry landscape to promote the spread of ESG policies.
“We want to understand what CFOs can do in their respective organisations to improve sustainability, and engage with the Big Four accounting firms and regulators to develop simple, easy-to-understand standards with a finite number of metrics,” he said, noting that a lack of clearly defined frameworks were preventing many investors and issuers in Asia from committing to this segment of the market.
Indeed, the EIU survey reveals that although investors in the region are overwhelmingly interested in sustainable finance structures, they do share concerns about qualifying criteria, regulatory support, and generally insufficient ESG investment prospects in Asia Pacific.
Ultimately, sustainability is not just about being socially responsible. It makes rational business sense for companies to be at the forefront of this transformation. As Muthukumar told us that day, proactively addressing the forces reshaping our natural ecosystem, as well as the expectations of both investors and consumers, will prove that “sustainable profits are equal to corporate longevity.”
As more corporates see how sustainable finance can incentivise and compel further action on sustainability, and how such action can be good for business, I’m confident that we will see strong continued growth in the sustainable finance market.
MICHAEL CHEN is the Head of Sustainable Finance for Westpac
</div>
</div>
</div>
</div>
</div>
</body></html>

How can rejuvenating global food systems enhance sustainability: Michael Chen

<html><body>
Melbourne-based property developer Charles Lloyd Property Group has added three new studio home developments to its portfolio, following high demand for its initial three co-living projects.
The developer said its first three projects, each comprising nine 25 to 30 sqm fully self-contained spaces, were generating consistent returns of around 14 per cent. 
Funded by the Group’s own capital, the “Studio Homes” concept was launched in 2018, one of the first entrants into the ‘co-living’ arena  having identified a gap in the market created by lack of housing affordability and increasing rental demand. 
The spaces are priced at 300 to $350 a week rental fee which included utilities and internet. Each unit has a private balcony or courtyard, ensuite and kitchenette, while full kitchen and laundry facilities are communal. 
Designed as an affordable alternative in the space between serviced apartments and hotels, they are targeted at singles, young professionals and students.
<img src="https://www.urban.com.au/images/2020/2/24/11_CLPG.jpeg" alt="">
Managing Director Franco Bevacqua said that the first three developments – in Berwick, Bundoora and Frankston – had fully let within weeks of going to market and another three were in development – St Albans, Epping and Hoppers Crossing. 
“A lack of affordability is pricing too many people out of the property market, and so we created the Studio Homes concept as a cost effective and efficient solution for the consumer,” Mr Bevacqua said 
“Most importantly they are proving to be a very attractive income-generating asset from an investment perspective, with average returns of around 14 per cent at this point. 
“I expect that these developments will become a more popular investment option in the build-to-rent sector than some of the higher density developments we are seeing come to market. 
“Build to rent has been slower to take off in the Australian market, mainly through the length of time it takes to see any decent return. We don’t have those challenges with the Studio Home concept. 
“There is no planning permission required so therefore no planning risk (under the building classification), while the build cost is generally lower than commercial rates, with an average eight to 12-month build duration.
“High volume, high density developments are the norm in this market, and so it seems that build to rent is only viewed through that lens, which is not a very innovative way to look at it. It’s a completely different investment proposition.” 
</body></html>

Charles Lloyd Property launch three more Melbourne co-living projects

<html><body>
Model Lara Bingle's former Darling Point apartment is up for sale once more. 
Bingle bought the one bedder in the Goomerah Court block from interior designer Blainey North for $882,000 in 2010, shortly after her break-up with Test cricketer Michael Clarke.
North had paid $700,000 for the unit.
Bingle, now married to actor Sam Worthington and living in the US, no doubt paid a premium for North's design stamp, selling the apartment for a reported $860,000 after four years of ownership.
Now it's back up for sale through Raine &amp; Horne Double Bay agents Alex Lyons and Jean-Michel Rudsdale.
The 65 sqm, second floor apartment in the tightly held Art Deco block of 14 features a Calacatta marble kitchen and bathroom, has views of the harbour.
Meanwhile Bingle's former ex Michael Clarke has sold the Bondi Beach apartment the couple lived in briefly before they split.
It's believed to be the site of the the alleged "ring flush", where Bingle flushed her $200,000 engagement ring down the toilet.
</body></html>

Lara Bingle's former Blainey North-designed Darling Point apartment listed again 

<html><body>
Dexus advises it will cease the management of the Australian Mandate, comprising a $1.6 billion property portfolio from June 30, 2020.
The diversified Australian Mandate comprises properties managed by Dexus on behalf of NSW Treasury Corporation (“TCorp”) for more than 30 years, and TCorp remains a long-term investor on the platform via other vehicles.
The Australian Mandate has achieved outperformance versus benchmark over 1, 3, 5, 7 and 10 years as at December 31, 2019. 
Dexus’s funds management business has achieved significant growth since FY12 and has recently attracted new like-minded partners such as GIC and M&amp;G Real Estate to invest alongside through the cycle.
There are currently several opportunities in the pipeline for Dexus to onboard investors with open investment periods and growth strategies.
The transition of the Australian Mandate is expected to have no impact on either Dexus's Adjusted Funds From Operations or distribution per security in FY20, with market guidance of distribution per security growth maintained at circa 5.5 per cent for the 12 months ended June 30, 2020.
</body></html>

Dexus to end management of $1.6 billion Australian Mandate portfolio

<html><body>
The number of ultra-wealthy people in Australia is expected to rise by 29 per cent over the next five years, equivalent to an extra 1,085 people, according to Knight Frank’s Wealth Report 2020.
The data shows Australia’s ultra-high-net-worth-individual (UHNWI) population will rise to 4,881 by 2024, up from 3,796 in 2019, with more than 200 new ultra-wealthy people being created in Australia each year.
Australia’s ultra-wealthy population grew by 5 per cent in 2019 and by 35 per cent over the past five years.
At the same time, Australia’s high-net-worth-individuals (HNWI**) are expected to grow by 34 per cent over the next five years to reach close to 2.1 million. Currently, 50 million people globally are considered millionaires, with wealth of  US$1 million or more.
According to Michelle Ciesielski, Knight Frank’s head of residential research, Australia is forecast to have one of the highest rates of growth in UHNWI populations globally over the next five years.
“Australia is ranked equal 15th with Canada for the projected growth in UHNWIs out of 43 countries globally,” she said. 
“Our projections are based on The Knight Frank Wealth Sizing Model which allows us to project the number of individuals in each wealth band in the future. We have utilised data including forecast growth in GDP, house prices, equity performance, interest rates and other assets that individuals hold. 
“Coming off a number of years of solid growth in Australia, 2019 saw further wealth creation off the back of a resilient stock market and further capital gains in the prime property market. 
“Although challenges in the local economy persist, there has been much more certainty and solidifying of the global economy coming into 2020.”
Knight Frank’s Joint National Head of Private Office Sarah Harding said, “On average 80 per cent of Australian UHNWIs saw an increase in wealth in 2019, well above the global average response of 63 per cent in the Knight Frank Attitudes Survey.
“Looking ahead to 2020, 63 per cent of Australian UHNWIs believe their wealth portfolios will continue to grow, which is optimistic when compared to the global average of 55 per cent.
“Australian UHNWIs cite the top three issues challenging wealth creation in 2020 as being the flow on from the global economic slowdown, negative interest rates or bond returns and the global trade wars. 
“As a result, 92 per cent of Australian ultra-wealthy population are making changes to protect their wealth.” 
According to Ms Ciesielski, “The number of ultra-wealthy people around the world is predicted to grow by 27 per cent over the next five years, with the population rising by 136,087 to just under 650,000. An additional 31,000 UNHWI were created in 2019, an increase of 6.1 per cent. 
“Out of the top 20 fastest growing countries presented in the report, six are located in Asia, with India forecast to have the highest growth of 73 per cent.
“We expect Asia will be the world’s second largest wealth hub by 2024, with a forecast five-year growth of 44 per cent, but it will still be only half the size of North America’s ultra-wealthy population, which is forecast to increase by 22 per cent.”
 
</body></html>

Australia’s ultra-wealthy population projected to rise 29 per cent: Knight Frank

<html><body><div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
EXPERT OBSERVATION
Headline GDP rose by 0.5 per cent in Q4 to be 2.2 per cent higher over the year, a moderate result ahead of an expected virus-driven fall in output in Q1.
 Notwithstanding a significant contribution from the recovery in housing turnover and small improvement in consumer spending, private domestic demand remains weak with falling residential construction and business investment subtracting 0.3ppt from growth. Net exports and stocks helped offset this weakness. 
While the focus of policy-makers has turned to the impact of the coronavirus on both the global and domestic economies, today’s outcome confirms a below trend pace of growth as a starting point even with the strong recovery in housing turnover, with a turnaround unlikely for some time given residential investment has yet to trough, consumer spending is constrained by weak wage growth and businesses outside of mining remain reluctant to invest.
 Factoring in an initial hit from the virus outbreak, this leads us to forecast growth to remain below trend over the next year or so, before seeing a small improvement. There is significant uncertainty about the extent and duration of the shock from the outbreak, but this outlook points to rising unemployment over 2020 and likely further action from the RBA beyond our expected rate cut in April. 
We will update our forecasts for growth, the labour market and the policy outlook next week.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/3/5/2_GDP%20Components.jpg" alt="" width="713" height="517">
In Q4, weak private demand growth was driven by a fall in dwelling investment which is now down 9.7 per cent over the year, and a decline business investment. While consumption growth improved, it also continues to track well below its long- run average, reinforcing our long-held view that tax rebates have failed to provide a significant boost to household spending.
 Indeed, part of the increase in consumption reflects extreme price discounting. Public-sector spending made no contribution following the solid outcome in Q3. Offsetting some of this weakness was a 0.1 contribution from exports - though this is a little weaker than recent quarters. A significant (though likely) temporary boost to the expenditure side came from the recovery in housing turnover which saw a boost to real estate margins. 
Both the production and income measures of GDP were slightly stronger than the expenditure measure in the quarter.
Looking forward, the magnitude of the bushfires and especially the coronavirus impact on the March quarter will be a focus, as will the ongoing impacts of the latter in subsequent quarters. For now, we have factored in a decline in March quarter GDP, but for a small recovery in quarterly growth thereafter on the assumption that the virus is quickly contained. 
As a result, we see year-average growth of 1.2 per cent in 2020 before an improvement in 2021 to around 2.7 per cent. Should the impact of the virus become more protracted this will necessarily see a down grade to our forecasts for growth. 
Notwithstanding the impact of the virus, our read is that the sluggish pace of underlying growth already warrants further policy action, with below-trend growth over the next 18 months likely to see a deterioration in the labour market with further downside risk as a result of ongoing impacts from the coronavirus.
 Indeed, we see the RBA cutting rates for a second time in 2020 at the April meeting and a significant risk of unconventional policy going forward depending on the severity of the uptick in the unemployment rate as well as the magnitude and impact of any response from fiscal policy.
Household consumption growth improved slightly in Q4, rising 0.4 per cent q/q but remains weak at 1.2 per cent y/y – the weakest pace since the GFC. The drivers of consumption growth in the quarter were increases in discretionary categories including clothing &amp; footwear, household goods and recreation and culture – possibly reflecting some impact from the earlier tax cuts.
Nonetheless, spending on discretionary items has remained weak over the year, with spending on essentials having driven the bulk of consumption growth. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/3/5/4_Household.jpg" alt="" width="657" height="487">
Underlying business investment declined by -0.8 per cent q/q, similar to Q3 (-1.1 per cent q/q). Unlike Q3, however, weakness in business investment was driven by non-mining investment which fell 3.6 per cent, while mining investment increased by 5.0 per cent q/q.
Mining investment in Q4 was 3.2 per cent higher than the same time a year ago – the first time annual growth has been positive since 2013 other than one-off gain posted in Q3 2017. The turnaround in mining was not unexpected, but the decline in commodity prices that started towards the end of last year, now reinforced by the coronavirus shock to the world economy, casts doubt on whether this will be sustained. At the same time, weak business conditions remain a headwind for non-mining sector investment.
<div class="page" title="Page 2">
<div class="section">
<div class="layoutArea">
<div class="column"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/3/5/5_Business.jpg" alt="" width="564" height="377"></div>
<div class="column">
 Dwelling investment fell 3.4 per cent in the quarter driven by a fall in investment in construction (-4.1 per cent) and a fall in alterations &amp; additions (-2.2 per cent). Over the year dwelling investment has fallen 9.7 per cent. This result is unsurprising given the weakness in work done, and the ongoing weakness in dwelling approvals. These data also confirm the downturn in construction is not over. The decline was driven by a fall in NSW and QLD, though construction also declined in WA and Tas. Vic saw a small improvement in the quarter.</div>
<div class="column">
 Government demand growth slowed considerably from Q3. Underlying public demand grew by 0.1 per cent q/q, well down from 2.0 per cent in Q3. However, growth over the last year was a still solid 5.1 per cent y/y. Government consumption growth was 0.7 per cent q/q – the lowest growth since Q2 2018 due to a fall in defence spending (a volatile component) and another quarter of very modest state/local government consumption growth. In contrast, Federal non-defence spending grew by 2.4 per cent q/q (10 per cent y/y), likely reflecting disability and aged care spending.</div>
<div class="column"> </div>
<div class="column">Underlying public investment declined 2.3 per cent q/q, but this followed a 6 per cent increase in Q3, and it was 4.2 per cent higher than a year ago. Overall, the roll-out of the NDIS and large infrastructure programs still appear to be supporting the economy – and a fiscal package expected in the next week or so, will also provide additional support to Q2 data.</div>
<div class="column">
 Net exports made a 0.1ppts contribution to quarterly GDP growth even with export volumes basically unchanged in the quarter, as imports declined (-0.5 per cent q/q). Exports and imports of non-monetary gold declined substantially masking growth, overall, in other trade flows.</div>
<div class="column"> </div>
<div class="column">On the export side, there was a large increase in manufacturing exports (7.6 per cent q/q), with smaller increases in commodity exports – both rural and non-rural. Capital and intermediate goods imports increased, but services imports fell (driven by travel, which has declined in each of the last four quarters), and there was a small decline in consumption goods imports.</div>
<div class="column"> </div>
<div class="column">Over the last year, total imports have declined by 1.5 per cent, consistent with the weakness in domestic demand. Travel exports and imports will decline sharply in Q1.</div>
<div class="column"> </div>
<div class="column"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/3/5/3_export.jpg" alt="" width="541" height="345"></div>
<div class="column">
 Compensation of employees rose by 1.0 per cent in the quarter (5.1 per cent y/y). While employment continued to rise, average COE per employee also increased by a moderate 0.5 per cent in the quarter. COE per hour continued to track above the WPI but saw a moderation in year-ended growth in the quarter. The boost to household income growth from tax cuts in Q3 faded in the quarter which also saw the household savings rate tick down.</div>
<div class="column">
 By industry, real estate services saw the strongest quarterly growth (up 2.7 per cent on a quarterly basis), likely reflecting the improvement in housing sales. Manufacturing (notably in food products), transport, healthcare and social assistance and mining also grew strongly, as did mining. Construction contracted 2.3 per cent on a quarterly basis, with building construction, engineering and construction services all hit down. Mining, manufacturing, transport, real estate services, public administration and health care each contributed 0.1 per cent to GDP growth in the December quarter, while construction detracted 0.2 per cent from growth.</div>
<div class="column"> </div>
<div class="column"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/3/5/1_Industry%20growth.jpg" alt="" width="629" height="406"></div>
<div class="column">
 By state, the ACT experienced the fastest growth in state final demand (+0.8 per cent q/q), followed by NSW (+0.5 per cent), with the latter result largely reflecting growth in public consumption and investment spending. NT SFD rose by 0.3 per cent, its first increase since Q3 2017, reflecting a big boost in public investment and to a lesser extent petroleum exploration (perhaps driven by the end of the NT’s fracking ban). Queensland recorded growth of 0.2 per cent q/q, while Victoria saw a fall of 0.1 per cent, largely reflecting a slowdown in major road construction. SA and WA both contracted 0.2 per cent, driven by falls in private and public investment. Tasmania fell 1.0 per cent on lower public and private investment; non-dwelling construction fell 18.6 per cent on reduced energy and accommodation project spending.</div>
<div class="column">
 The slide in farm GDP was arrested in Q4 on a quarterly basis, up 0.4 per cent, although it remains lower on an annual basis (down 3.0 per cent). While the drought continued to wreak havoc in New South and Queensland in Q4, this led to higher cattle and sheep slaughter and therefore higher meat production. 2020 has brought a deluge to many Australian agricultural regions, which is very welcome relief indeed. However, this may be slow to show up in 2020 GDP as graziers rebuild herds and flocks – reducing meat production. It remains too early to say how the 2020-21 winter cropping season will perform.</div>
</div>
</div>
</div>
ALAN OSTER is the Chief Economist at NAB Group
</div>
</div>
</div></body></html>

Coronavirus to slow Australian GDP significantly: NAB's Alan Oster

<html><body>
The REIV is forecasting a slow auction weekend this Moomba in Melbourne.
Only 410 auctions are currently scheduled in Victoria.
However this volume is higher than the 186 auctions that took place during the Moomba/Labour day festivities in Victoria last year. 
This is significantly less than the 1,345 that took place last weekend, which was much busier than that week last year.
During that time last year, 891 auctions took place. 
Plus clearance rates were up nearly 25%, 80% compared to 57%.
The Moomba Festival this year runs from March 6th to March 9th coinciding with the long Labour Day weekend
One vendor undeterred by the festivities is auctioning off their <a href="https://www.realestate.com.au/property-apartment-vic-melbourne-132963546" target="_blank">107/565 Flinders Street</a> property (pictured above).
The one bedroom, one bathroom apartment sits on a 62 sqm block.
It goes to auction with a $350,000 - $370,000 price guide.
Sydney is also seeing a slowdown this week albeit not as drastic with 796 homes set to go under the hammer this week, lower than the 1,087 auctions held last week at final figures, according to CoreLogic data.
Their findings show that Perth is the only capital city market expected to see a rise in volumes over the week, with volumes set to be lower across Adelaide (-25.9%), Brisbane (-17.6%), Canberra (-50.6%) and Tasmania (1 scheduled auction)
</body></html>

Melbourne auction listings slow this Moomba

<html><body>
Perth’s median rent increased to $360 per week in February and is the first increase the Western Australian property market has seen since January 2017.
REIWA President Damian Collins said median rents had remained stable for the longest period since reiwa.com first started capturing rental data in 2001.
“While the overall increase in median rent was up by $10 per week in February, this is a significant step in the WA property market and one we have been waiting a long time for."
“This increase can be attributed to Perth’s vacancy rate dropping to 2.2 per cent, which is the lowest it has been since March 2013, coupled with listings for rent on reiwa.com being down compared to January.”
The top suburbs by median rent price growth for February include Stirling, Shenton Park, Ocean Reef, Thornlie and Bertram.
Mr Collins said, “leasing activity dropped nine per cent compared to January and days to lease has improved by one day to take on average only 28 days."
“As we head into March, which is usually one of the busiest months of the year for the rental market, it will be interesting to see how the market performs and if rents continue to rise, which is possible given the low vacancy rates,” he concluded.
</body></html>

Perth rents up for the first time in over 3 years: REIWA

<html><body>
Firstly, small businesses in bushfire-affected communities will be able to operate from portable offices without council approval, under the latest bushfire recovery initiative from the NSW Government.
Deputy Premier and Minister responsible for Disaster Recovery John Barilaro said the changes will ensure regional business owners can continue to earn an income, employ local residents and support local economies.
Planning and Public Spaces Minister Rob Stokes implemented changes to the State Environmental Planning Policy (Exempt and Complying Development Codes) Amendment (Bushfire Response) 2020, which will enable any existing business that has sustained damage in the bushfires to operate from a portable office, such as a shipping container, for up to two years.
“This may only be a small change, but it’s one that will have a significant operational impact for the many small business owners across the State who have been devastated by these fires,” Mr Stokes said.
This initiative follows changes to allow temporary accommodation like caravans and storage containers to be on property for up to two years without council approval.
The NSW Government is also waiving Planning Reform Fees, worth an average of $320, and is issuing free BASIX certificates which usually cost $50, for bushfire-affected residents who need to rebuild their properties.
Minister for Finance and Small Business Damien Tudehope said small businesses were incredibly resilient and encouraged bushfire-affected enterprises to look into this new initiative.
“We’re committed to doing all we can to help small businesses affected by bushfire not only survive this difficult time, but thrive into the future,” Mr Tudehope stated.
</body></html>

The latest planning and recovery initiatives for bushfire-affected communities

Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe>

The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Staff reporter

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News