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Cape Lodge, a boutique hotel with vineyard in the Margaret River wine region, has been listed for sale. 
WA rich-lister and co-founder of Navitas, Peter Larsen is selling the property. 
The expression of interest campaign for the hotel ends May 9. 
It has been offered by Aaron Desange, Ryan McGinnity and Chloe Mason from CBRE. 
Set on a 16.5ha parkland and vineyard, Cape Lodge at 3341 Caves Road, Yallingup, comprises 22 guestrooms, a five-bedroom private residence, restaurant. 
Additional features including swimming pool, tennis court, spa and conference venue. 
Cape Lodge also offers a gourmet retreat and cooking school designed for culinary enthusiasts.
Mr Desange said the Margaret River region had gained huge attention as a global wine-producing region and had drawn a surging number of international visitors over the past three years.
“Cape Lodge is the most high-profile accommodation in the South-West and we expect investors will be drawn to the prospect of owning a trophy,” Mr Desange said.
The property opened  in 1993 as a six-room luxury bed and breakfast and was extensively renovated in 2003 and again more recently.
Navitas is a leading global education provider.  
 
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j.ballantyne1990-6AQqhLzZaK

Cape Lodge, Margaret River listed for sale

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Upgrades and Investment at 140 William Street has lead to a number new leases according to owner Rest.
Colliers International’s Shane Burns and Tony Landrigan, in conjunction with James Pappas and Hamish Sutherland of Knight Frank, have negotiated 11 new leases totalling more than 7,500sqm at 140 William Street. 
New tenants include Bank of Montreal, Law Institute of Victoria and Marble Group, among others. 
“An iconic Melbourne business destination, 140 William Street is constantly updating and evolving to ensure the building can best service tenant demand in the ever-changing Melbourne market,” Mr Burns said. 
“Progressive building owners and management consistently pre-empt workplace demands and trends to remain a commercial destination of choice, which has helped drive a highly successful leasing campaign, particularly in the past 12 months."
Over the last 24 months, superannuation owner Rest has invested in a lift and mechanical upgrade, the provision of end-of-trip facilities and new services.
Mr Pappas added, “The building has experienced great leasing success, including six refurbished whole floors – as well as securing a range of part floor tenants including Finite Group, Wonder Property, King and Whittle and NOPSEMA." 
“Further improving the buildings offering, 2018 also saw the execution of fitted part floors or small suites, responding to increasing market demand.” 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/3/14/140William.jpg" alt=""> 
Recent leasing deals have included: 
* Newcity Development (One) Pty Ltd: 251.5sqm on Level 25 on a five-year lease (+ 11 months) 
* Lysander Consulting Group: 259.2sqm on Level 14 on a six-year lease 
* Law Institute of Victoria 
* King &amp; Whittle Pty Ltd 
* Kidman Resources Ltd:315sqm on Level 30, on a 5-year lease 
* National Offshore Petroleum Safety &amp; Environmental Management Authority: 728sqm on Level 25, on a 6-year lease 
* Wonder Property: 300sqm on Level 37, on a 7-year lease 
* Marble Group: 430sqm on Level 37, on a 6-year lease 
* Bank of Montreal: 300sqm on Level 33, on a 5-year lease 
* Finite Group: 430sqm on Level 33, on a 5-year lease 
* Undisclosed tenant has taken 1,232,90qsm on Level 8 
Rents in the building range from $580/sqm in the low rise to around $700/sqm net in the high rise for a fully fitted, turn-key suite. 
“The accelerated demand we have experienced this year highlights the strength in sentiment among small business owners and reflects the lack of supply in this market,” Mr Burns said.
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140 William Street, Melbourne upgrade yields new tenants 

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A Glen Eden, Qld home has sold under the mortgagee auction hammer for $110,000.
This marks a price reduction of $195,000 on its 2013 sale price of $305,000.
Angie Kulikov of Locations Real Estate South Gladstone held the listing.
Situated at <a href="https://www.realestate.com.au/sold/property-house-qld-glen+eden-130663994" target="_blank">94 Allunga Drive, Glen Eden</a> the property is a three bedroom one bathroom house.
Set on 731 sqm, the property backs onto bushland.
Featuring a double carport with enclosed storage shed, it also has a fully fenced rear yard.
The 2013 sale price was an $181,000 increase from its previous 2002 sale price of $124,000
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median price for a home in <a href="/news">Glen Eden</a> is $251,000 according to CoreLogic, which calculate its annual change in median price over the past 10 years as -5%.
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Glen Eden, Qld mortgagee home sold for 36% of previous sale price

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The Reserve Bank of Australia (RBA) has today made the decision to leave the nation’s official cash rate (OCR) unchanged at 1.50%.
RBA board members have held the nation’s cash rate yet again, however a range of economic factors are likely to encourage the bank to cut the rate.
The OCR’s function as an anchor to lenders’ interest rates shifted over 2018, as lenders were forced to respond to higher funding costs. Moreover, markets are pricing in a 90% probability of a rate cut by August this year, adding further pressure on the RBA to change its long held stance on monetary policy.
The RBA considers a range of global and domestic economic factors when making its monetary policy decisions. At its March meeting, the US Federal Reserve took a dovish stance on monetary policy, opting to hold the Fed funds rate at 2.25-2.50%. A rate hike was expected by the Fed, however comments from Chairman Powell points to no increases in the near-term due to ongoing economic expansion in the US.
In the minutes of the March Monetary Policy Meeting, RBA board members noted that trade tensions continue to weigh on the global economic outlook. Members noted that in Australia, labour market conditions had continued to improve. The RBA continues to monitor the weakening housing market, drawing attention to Sydney and Melbourne, where dwelling values had fallen 13% and 10% respectively, since their peaks.
The most recent CoreLogic Hedonic Home Value Index revealed that national dwelling values fell by 0.6% over March and have fallen by a cumulative 7.4% since peaking in October 2017.
The most recent data from the Australian Bureau of Statistics revealed that the number of dwelling commitments to owner-occupiers fell 2.6% over January 2019.
Furthermore, National Australia Bank’s most recent Monthly Business Survey points to deteriorating business confidence. Similarly, the Westpac Melbourne Institute Index of Consumer Sentiment revealed the weakest consumer mood since September 2017.
Today’s strict lending practices, born out of lenders’ self-imposed tightening in the wake of the Banking Royal Commission, continues to play a part in the slowing property market. This places greater importance on the need for future home buyers and borrowers alike to get in shape financially.
The slowdown in the nation’s economic growth would also be of concern to RBA board members, with recent GDP data revealing a slowdown in growth due in part to declining dwelling investment.
In the current lending environment, my advice to borrowers would be to speak to a mortgage broker to ensure their home loan applications are as tight as possible. The reality is that lenders are going to call out any and all undeclared living expenses on home loan applications, significantly lengthening the time to approval.
Preparing for a home loan application today is not as simple as saving for a deposit. The high level of scrutiny by loan assessors means prospective buyers, and those looking to refinance their loans, should be: cutting back on discretionary spending at least six months ahead; closing credit cards that are no longer being used and reducing limits where possible; and knowing where they are spending every dollar.
The good news for those with property ownership aspirations is that lenders are aggressively competing for low risk borrowers, which means it’s a great time to learn what your options are.
If you are looking to apply for a home loan this year and need to get home buying ready, speak to your local Mortgage Choice mortgage broker. A broker will assess your financial situation in the same way a lender would and give you a clear indication of your borrowing power.
When the time comes your broker can help you prepare a home loan application that has the best chance of being viewed favourably by the lender you choose.
SUSAN MITCHELL is the Chief Executive Officer of Mortgage Choice
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RBA's stalemate nearing its end: Mortgage Choice CEO Susan Mitchell

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The unemployment rate is 4.9%, but the underemployment rate is 8.1%.
 
This is the third in a three-part mini-symposium on Wages, Unemployment and Underemployment presented by The Conversation and the Academy of the Social Sciences in Australia. Read the other pieces in the series <a href="https://theconversation.com/au/topics/assa-symposium-67964" target="_blank">here</a>.
For the moment, Australia’s unemployment rate has a “4” in front of it. The rate for February, released on Thursday, <a href="https://www.propertyobserver.com.au/http://www.abs.gov.au/ausstats/abs@.nsf/mf/6202.0" target="_blank">came in at 4.9%</a>. It’s the first time the rate has begun with a four since the Rudd/Gillard government when it dipped below 5% several times, and since the Howard and Rudd governments in the leadup the global financial crisis when it usually began with a four and at one point dipped to 3.9%.
It’d be good news were it not for another, almost as important, indicator - the underemployment rate.
Workers are underemployed when they are working fewer hours than they want to. They might be working part-time instead of full-time, or part-time for 10 hours a week instead of 20, or full-time at 35 hours instead of 40.
<hr>
<img src="https://images.theconversation.com/files/265049/original/file-20190321-93051-e32m42.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""><a class="source" href="https://www.propertyobserver.com.au/http://www.abs.gov.au/ausstats/abs@.nsf/mf/6202.0" target="_blank">ABS Labour Force</a>
<hr>
Over the past five years the proportion of the workforce underemployed has climbed from 7.2% to 8.1% while the unemployment rate has climbed from 5.2%, then fallen, hitting 4.9%.
The underemployed are disproportionately women (60%), and are concentrated in the retail, health care and hospitality industries. Their jobs are more likely to be insecure, with inadequate hours often accompanied by unpredictable or uncertain hours.
They are in industries that have seen growth in temporary migrant workers and the systematic underpayment of workers, reflecting changes in the temporary visa system as well as <a href="https://doi.org/10.20851/wages-crisis-04" target="_blank">weaknesses in the enforcement of wage laws</a>.
Wages are the other side of the bad news. No one who has made a regular appearance at the plethora of parliamentary inquiries that have accompanied the rewriting of Australia’s industrial relations system over the past 23 years would be surprised that wage growth is bumping along at historic lows.
The reworked industrial relations system - and the social, cultural, economic and labour market context in which it sits - has reshaped power at work. Wave after wave of change has had the end result of shifting power to employers. And it is that change in power that, more than anything, explains the stalling of wages growth.
<a href="https://images.theconversation.com/files/265055/original/file-20190321-93060-qtde5w.JPG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/265055/original/file-20190321-93060-qtde5w.JPG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></a> Open letter in Tuesday’s Financial Review. <a class="source" href="http://ppesydney.net/open-letter-on-the-benefits-of-promoting-faster-wage-growth/" target="_blank">AFR</a>
As 124 labour market experts said in their <a href="http://ppesydney.net/open-letter-on-the-benefits-of-promoting-faster-wage-growth/" target="_blank">open letter in support of wages growth</a> published in the Australian Financial Review this week, we are witnessing the longest sustained rate of slow wage growth since the end of the Second World War.
It certainly isn’t the result of falling productivity, which has actually climbed 39% in the past two decades while real wages have climbed only 14%.
The feminisation of employment has also helped shift the power balance at work. Women’s share of the total workforce climbed from 43% to 47% between 1999 and 2019.
Research in many countries tells us that women are no less inclined to join a union and have no less an appetite to improve their working conditions than men. However, women’s caring responsibilities and the practical demands they face, along with the nature of the industries in which they work, often make it harder for them to bargain or to take industrial action.
<hr>
<a href="https://images.theconversation.com/files/265052/original/file-20190321-93044-12f77y7.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/265052/original/file-20190321-93044-12f77y7.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a> <a class="source" href="https://www.propertyobserver.com.au/http://www.abs.gov.au/ausstats/abs@.nsf/mf/6345.0" target="_blank">ABS wage price index</a>
<hr>
Analysts focus on the causes of this historic wages stall. Reserve Bank Governors caution about its consequences for the economy. But in thousands of households across Australia, a five-year stall in wages growth exacts a high human cost. It particularly affects those already on low pay, for whom a few dollars a week mean the difference between making rent, paying for school excursions or filling the fridge. ‘Frugal comfort’ of the kind promised by Justice Higgins in 1906 (to full-time men at least), is a long way from the anxiety that flatlining wages mean for many Australians.
The wage system shapes the fortunes of Australian households. Its reverberations have become more powerful with the growing number of two-earner households and a retirement incomes system that increasingly mirrors wage earnings.
The growing awareness of wage inequality and unevenly rewarded productivity, in combination with increasing job insecurity and weakening protections at work, is likely to feed into the election campaign.
Redressing the basic and widening power imbalance that underlies the employment and wage statistics has become a public necessity that has supporters in some surprising places. It is overdue.
<hr>
The <a href="https://www.assa.edu.au" target="_blank">Academy of the Social Sciences in Australia</a> is one of Australia’s four learned academies. The ASSA coordinates the promotion of research, teaching and advice in the social sciences, promotes scholarly cooperation across disciplines, comments on national needs and priorities in the social sciences, and provides advice to government on issues of national importance.<img src="https://counter.theconversation.com/content/113360/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/barbara-pocock-7079" target="_blank">Barbara Pocock</a>, Emeritus Professor University of South Australia, <a href="http://theconversation.com/institutions/university-of-south-australia-1180" target="_blank">University of South Australia</a>
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/jobs-but-not-enough-work-how-power-keeps-workers-anxious-and-wages-low-113360" target="_blank">original article</a>.
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Jobs but not enough work. How power keeps workers anxious and wages low

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EXPERT OBSERVER
There’s no trading strategy that will deliver better returns than chance.
In 2013 I wrote a <a href="https://theconversation.com/gambling-on-the-dollar-time-to-reign-in-forex-trading-21150" target="_blank">piece on The Conversation</a> arguing that foreign exchange trading should be much more tightly regulated.
In particular, I said that retail (mum and dad) investors should only be allowed to trade foreign currencies in limited circumstances. Since then there has been little change. It is still shockingly easy for a retail investor with a very limited understanding of foreign currency to trade foreign exchange, as was demonstrated on ABC 7.30 on <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/7.30/the-risky-world-of-online-foreign-exchange/10922394" target="_blank">Wednesday</a> and <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/7.30/the-opaque-world-of-foreign-exchange-trading/10927348" target="_blank">Thursday</a> nights.
There is a basic difference between foreign exchange trading and other forms of investment such as share trading. Over time, share markets tend to rise, so that if an investor buys a diversified basket of shares, or even an individual share, they should expect a positive return over time. Of course markets go up and down, and individual share trades can go wrong, but in the long run the market tends to rise.
<h2>Share trading it isn’t</h2>
Foreign currency markets are fundamentally different, in that there is no reason to expect exchange rates such as the Australian-US dollar rate to rise or fall over any short- or medium-term trading horizon.
For 30 or more years, academics have tried to build models to predict exchange rates. None of them work. If even the most sophisticated academic or trader built a model to predict whether the AUD/USD would go up or down tomorrow, they would get it wrong 50% of the time – exactly the same as a coin toss. This means trading foreign exchange on the basis of whether major currencies will go up or down is exactly the same as playing <a href="https://en.wikipedia.org/wiki/Two-up" target="_blank">two-up</a>!
<h2>Losses can exceed what you put in</h2>
The second reason that retail investors should be wary of foreign exchange trading is that many promoted products are highly leveraged - funded by borrowing. The Australian Securities and Investments Commission has <a href="https://www.moneysmart.gov.au/investing/complex-investments/foreign-exchange-trading" target="_blank">clear warnings about foreign exchange trading</a> on its Moneysmart webpage, including a case study of a typical trader who invests A$500 to borrow to buy A$100,000 at an exchange rate of 91 US cents.
With this contract, a fall in the USD/AUD exchange rate to 88.5 US cents sees this trader lose A$2,825, meaning they have to pay another A$2,325 in addition to the original A$500 to close out the contract.
<hr>
<a href="https://images.theconversation.com/files/265003/original/file-20190321-93057-1krimjl.JPG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/265003/original/file-20190321-93057-1krimjl.JPG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a> How to lose a lot from a little. <a class="source" href="https://www.moneysmart.gov.au/investing/complex-investments/foreign-exchange-trading" target="_blank">ASIC MoneySmart</a>
<hr>
If foreign exchange trading is so risky, and in my view no different to playing two-up or roulette, why do we allow retail investors to leverage into these products?
The problem, as I see it, is that regulators can take one of two approaches to investors. The traditional view is that if investors have enough information they will make informed choices in their own best interests. Economists describe this as behaving rationally. The ASIC approach is very much based on this view: provide good information and let investors make informed choices.
<h2>Information isn’t enough</h2>
There is a second view that is gradually replacing this view of individuals as rational. The “behavioural economics” approach examines the psychology and actual approaches of individuals in different circumstances, to explore departures from rationality. Unsurprisingly, in many arenas people are irrational, creatures of habit, ill-informed, and so on.
An implication is that sometimes people ought to be protected from their own poor decisions, even though that might limit choice. I would argue strongly that there is no reason for retail investors to trade foreign exchange, and certainly no reason to borrow to do it. Measures to limit such trading, except in circumstances where an investor can demonstrate their expertise, ought to be encouraged.
<h2>We’re a magnet for promoters</h2>
This is very far from the case in Australia currently. In fact Australia is seen as an attractive location for firms offering retail foreign exchange trading. Websites offer “training and tips” and then allow trading inside 24 hours.
I have spent 30 years studying foreign exchange markets and would still say that I’m not sophisticated enough to trade them. Maybe I’m dumb, but I’m not crazy enough to trade foreign exchange.
<a href="https://theconversation.com/profiles/mark-crosby-444" target="_blank">Mark Crosby</a>, Professor, <a href="http://theconversation.com/institutions/monash-university-1065" target="_blank">Monash University</a>
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/no-better-than-roulette-how-foreign-exchange-trading-rips-off-mum-and-dad-investors-113743" target="_blank">original article</a>.
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No better than roulette. How foreign exchange trading rips off mum and dad investors

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An Upper Coomera, Qld mortgagee townhouse has sold following an unsuccessful auction campaign.
The three bedroom two bathroom property sold for $340,000 a $59,000 reduction on it's 2010 sale price of $399,000.
Glenn Batten of First National Real Estate held the listing.
Situated at <a href="https://www.realestate.com.au/sold/property-townhouse-qld-upper+coomera-130183298" target="_blank">3/12 Gumtree Crescent</a>, the circa 2010 built townhouse features a single car lockup garage.
Set on 156 sqm, the property set across two storeys was listed for $360,000.
Located minutes from both shopping options and schools the home is within 600 metres of the Upper Coomera State College.
The property was listed for rent through 2010 to 2014. During these years it was listed at $390 pw until mid 2012 where the asking rental price was reduced to $350 pw.
However in 2014 it was listed for rent at $450 pw.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt="">
The median price for a home in <a href="/news">Upper Coomera</a> is $486,250 according to CoreLogic, which calculate its annual change in median price over the past 10 years as -0.5%.
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Upper Coomera, Qld mortgagee townhouse sold for $60,000 loss

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A Hope island apartment is set to go under the mortgagee auction hammer on April 3.
The two bedroom three bathroom unit features one underground parking space. 
Mark Worthington of LJ Hooker holds the listing.
Situated at <a href="https://www.realestate.com.au/property-unit-qld-hope+island-130660170" target="_blank">1106/2 Activa Way</a> it is part of the Azzura Greens development.
With 155 sqm of floorspace, the property is inside the Hope Island Resort community.
Located adjacent to the Tennis Academy &amp; links to the Hope Island Golf Club it features a verandah.
Last sold in 2008 the apartment traded for $506,450.
It was listed as recently as 2017 initially asking for offers from $362,000 before reducing the price guide to $350,000 and being taken off market after 54 days.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt="">
The median price for a home in <a href="/developments/hope-island-qld-4212">Hope Island</a> is $972,500 according to CoreLogic, which calculate its annual change in median price over the past 10 years as -2.5%.
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Hope Island, QLD apartment going under mortgagee auction hammer

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DomaCom Limited has announced that it has partnered with La Trobe Financial to provide property investors using DomaCom’s fractional property investment fund with a credit facility.  
An initial $50 million facility has been provided by La Trobe Financial that will allow investors to acquire around $100 million of leveraged property through the DomaCom Fund.
The facility will provide up to 60% leverage for investors and Self-Managed Super Funds (SMSFs) at a competitive 5.99% pa.
Enabling the use of lending when purchasing investment properties is a key addition to the DomaCom product offering, which places the Company in a strong position to almost triple its Funds Under Management to $150 million. 
DomaCom CEO Arthur Naoumidis said: “This is a significant development for the Australian property investment market as financial advisers can now leverage their clients’ investment properties at a click of a button. 
"We’re delighted to have the final piece of the jigsaw (debt) in place for DomaCom – we have bought over 50 properties to date where almost all are without debt and we are excited to be able to offer advisers ready access to competitive SMSF lending.
"The availability of this initial $50 million debt facility has cleared the remaining obstacle for DomaCom. 
"After many patient years we are now well placed to take our platform to financial advisers and the SMSF sector, with available debt and legal certainty."
Chris Andrews, chief investment officer at La Trobe Financial, said the SMSF sector continues to grow.
"With more than one million Australians having turned to taking more control of their own super, the growth of the SMSF sector continues," Andrews said.
“As a specialist in the SMSF lending space since 2009 we are happy to partner with DomaCom to assist borrowers obtain that much needed SMSF finance for property investment purposes.
"SMSFs have a significant influence in the overall growth of the $2.3 trillion Australian superannuation industry, with SMSF assets growing by $319.7 billion or 55% in the five years to December 2018 at $726.46 billion in AUM.
Andrews said this sector expansion is expected to continue to have an important role in asset allocation debates in the retirement industry.
"The majority of the 587,092 SMSFs are formed by self-employed business people who are astute and understand investment risk - having often run their own businesses. 
"They have a bias towards asset classes with low volatility and assets that have longer term (10+ year) investment horizons and to this end property is eminently recognisable and understandable for SMSF investors.
"Currently there is only $42.85 billion of limited recourse borrowings (5.9% of total SMSF Assets)”.
To read more about DomaCom, <a href="/expert-insights/crowdfunding-into-property-domacom-explains">click here</a>.
 
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DomaCom secures $50 million non-bank lending for SMSFs

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GUEST OBSERVATION
The tens of thousands of young people who were protesting at the school climate strike two weeks ago know that they are being left a stinking great environmental mess to clean up.
But I suspect that many are yet to appreciate that this is not the only mess they’ll be left with.
Australia’s tax and welfare system is built around an <a href="https://grattan.edu.au/report/the-wealth-of-generations/" target="_blank">implicit generational bargain</a>. Working-age Australians, as a group, are net contributors to the budget – they pay more in taxes than they receive in either benefits or spending. These contributions support older Australians who take a lot more out in spending and pension payments than they contribute in taxes.
Today’s working-age Australians expect the generation after them to support them in the same way as they age. But this longstanding bargain is under threat.
A bargain betrayed
The number of working-age Australians for every person aged 65 and over fell from 7.4 in the mid-1970s to 4.4 in 2015, and is projected to fall to just <a href="https://treasury.gov.au/publication/2015-igr">3.2</a> in 2055.
This could be seen as just bad luck for today’s young people. There are swings and roundabouts we all have to live with.
But what’s less easy to accept is a series of policy decisions that have substantially increased the size of the transfers workers will have to make to older people – expanding their good fortune at the expense of the generations who come out of them.
Let me tell you how.
Budgets have been tilting the scales
First, future pension costs have climbed as a result of deliberate policy decisions to boost the rate and eligibility for the pension. As a share of average weekly earnings it has climbed <a href="https://www.propertyobserver.com.au/https://www.abs.gov.au/ausstats/abs@.nsf/mf/6302.0" target="_blank">from 30% to 37%</a> over the past two decades.
The ever-widening gap between the rate of the pension and Newstart, and the increasing ease with which retirees can get at least some pension, speaks to the political perception that there are deserving and undeserving welfare recipients, “lifters” and “leaners,” in the words used by Treasurer Joe Hockey in the 2014 budget.
Newstart recipients now live on A$40 a day compared to <a href="https://www.propertyobserver.com.au/http://guides.dss.gov.au/guide-social-security-law/5/1/8/20" target="_blank">A$65 for full-rate pensioners</a>.
Second, health spending is climbing. Commonwealth health spending has been climbing by 3% a year over and above inflation for the past decade.
State health spending has climbed 3.7% a year.
The increase has been particularly stark for those in their 70s and 80s – with average health spend per person increasing by over A$4,000 <a href="https://www.propertyobserver.com.au/https://www.abs.gov.au/AUSSTATS/abs@.nsf/mf/6537.0" target="_blank">in just twelve years</a>.
Most Australians support increased health and pensions spending. They might not, or might not support it as much, if they realised where it was coming from.
A series of tax policy decisions over the past two decades – tax-free superannuation income in retirement, refundable franking credits and special tax offsets for seniors – have meant we now ask older Australians to contribute a lot less than we once did.
Incomes for households over 65 have <a href="https://www.propertyobserver.com.au/https://www.abs.gov.au/AUSSTATS/abs@.nsf/mf/6537.0" target="_blank">more than doubled</a> over the past 25 years, substantially faster growth than for households under 55.
But households over 65 pay virtually <a href="https://www.propertyobserver.com.au/https://www.abs.gov.au/AUSSTATS/abs@.nsf/mf/6537.0" target="_blank">no more income tax</a> than people that age did 25 years ago. Indeed, the share of older households paying any tax has fallen from 27% in the mid 1990s to 17% today.
And that has contributed to a tax system where someone’s date of birth is almost as important as someone’s income in determining their tax contribution.
An older household earning A$100,000 a year pays on average less than half the total tax of a working-age household earning the same amount. Considered another way, an older household on A$100,000 pays about the same tax as a working-age household on A$50,000.
And these calculations exclude dividend imputation franking credit refunds that largely benefit older Australians. There is simply no policy justification for this degree of age segregation in the system.
We are facing intergenerational theft
One argument that is sometimes advanced to defend age-based tax breaks is that older Australians have “paid their taxes”. But in a generational sense, this argument does not hold water. Younger households today are underwriting the standard of living of older households to a much greater extent than in the past.
People born in the late 1940s, at the beginning of the baby boom generation, reached their peak contribution to the tax system in their early forties – and at that point they were contributing an average of A$3,200 a year to support older generations in retirement. An average 40-year-old today, born at the tail end of Generation X, is paying an inflation-adjusted <a href="https://www.propertyobserver.com.au/https://www.abs.gov.au/AUSSTATS/abs@.nsf/mf/6537.0" target="_blank">A$7,300 a year</a>.
That is <a href="https://www.propertyobserver.com.au/https://www.abs.gov.au/ausstats/abs@.nsf/mf/6302.0" target="_blank">more</a> than they are contributing to their own retirement through compulsory superannuation.
Under current policy settings, the child of today’s 40-year-old will need to pay around A$11,400 a year by the time he or she reaches 40 just to sustain the current levels of benefits in retirement.
And ever-bigger budget deficits
In an economy that is growing, it can be sustainable for each generation to take out more than it put in, knowing it will be easier for the next one to put money in, but the sheer size of this growth in payments far exceeds that capacity.
That’s why the treasury produces an <a href="https://treasury.gov.au/publication/2015-igr" target="_blank">Intergenerational Report</a> every five years to remind us how ugly business-as-usual looks.
Without policy changes, budget deficits are set to grow ever bigger (even after what will probably be the temporary return to surplus promised in Tuesday’s budget) and net debt will expand to uncomfortable levels.
The unwanted fiscal inheritance will fall on the generation of Australians that have seen its incomes and wealth stagnate – the generation that has missed the property boom and is entering the workforce during a period of flatlining real wages.
So what would a budget that seriously tackles these issues look like?
We could still put things right
First, it would wind back some of the tax concessions for older Australians who can afford to make a contribution. It is simply <a href="https://grattan.edu.au/report/age-of-entitlement/" target="_blank">no longer sustainable</a> for comfortably off older Australians to opt out of taxes for two or three decades they are in retirement. The obvious place to start would be a <a href="https://grattan.edu.au/report/super-tax-targeting/" target="_blank">tax on superannuation earnings</a>, and winding back the <a href="https://grattan.edu.au/report/money-in-retirement/" target="_blank">seniors and pensioners tax offset</a>.
The politics isn’t easy. The reaction to Labor’s franking credit policy gives a sense of what governments face when trying to wind back these transfers. The public hearings for the inquiry into the franking credits policy sometimes looked more like the frontline in a generational war than a staid government inquiry.
Here the contrast with the climate strike is difficult to ignore: while older Australians picket for their franking credits, young people are protesting for their very future.
Second, there would be no decisions that further undermine the structural position of the budget. If there is one lesson to take from the past two decades it is that commodity windfalls come and go. We should not lock in higher recurrent spending, or offer another round of tax cuts, every time revenues surprise on the upside. Nor should we pile uneconomic infrastructure investments off budget. To do so is to further weaken the generational bargain.
What if Tuesday’s budget was a start?
Ahead of tomorrow’s budget I should say that I hope I’m wrong.
I hope this government will use this budget and its election commitments to address our long-term challenges. I hope we can discuss generational fairness without it descending into generational warfare.
I hope none of us would want our legacy to be mortgaging our children’s environment and their economic future.
<hr>
Danielle Wood presented a longer version of this article as part of the <a href="https://esawen.org.au/" target="_blank">Women In Economics</a> federal budget perspectives event at the National Press Club in Canberra on Wednesday March 27, 2019. <a href="https://iview.abc.net.au/show/national-press-club-address" target="_blank">Watch the discussion here</a>.<img src="https://counter.theconversation.com/content/114508/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
Danielle Wood, Program Director, Budget Policy and Institutional Reform, Grattan Institute
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/expect-a-budget-that-breaks-the-intergenerational-bargain-like-the-one-before-it-and-before-that-114508" target="_blank">original article</a>.
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Expect a budget that breaks the intergenerational bargain, like the one before it, and before that

For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

[smartcode_project:default project_id=147685 project_image_fid=359136]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

[smartcode_project:default project_id=147685 project_image_fid=359127]

The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

[smartcode_project_cta:default project_id=147685]

Joel Robinson

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

[smartcode_project:default project_id=1979 project_image_fid=363268]

Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

[smartcode_project:default project_id=1979 project_image_fid=363229]

The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

[smartcode_project:default project_id=1979 project_image_fid=363284]

The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

[smartcode_project:default project_id=1979 project_image_fid=363228]

According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

[smartcode_project_cta:default project_id=1979]

Why now is the time to buy in Melbourne's premium apartment market

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

Staff reporter

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