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GUEST OBSERVATION
The <a href="https://agedcare.royalcommission.gov.au/hearings/Pages/default.aspx" target="_blank">Royal Commission into Aged Care Quality and Safety</a> is this week turning its focus to aged care in the home.
So far it has heard evidence of <a href="https://www.smh.com.au/national/elderly-australians-dying-while-they-wait-for-in-home-aged-care-20190316-p514qt" target="_blank">long waiting times</a> to access home care services and a <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-03-18/royal-commission-told-of-bottom-feeder-applicants-for-home-care/10912738" target="_blank">complicated system of fees</a>. It’s only a matter of time before it questions the reasons behind those wait lists and fees.
Unlike aged care, access to many health care services is unlimited. Anyone can seek an appointment with their GP or turn up to a hospital emergency department, in most cases for free.
But the number of home care packages available to older Australians is capped, and the frail elderly are asked to foot some of the bill.
While some may argue to uncap the number of home care places, and replicate parts of the health system by providing free care for all, it’s not that simple. Governments will keep increasing the number of subsidised home care services in response to needs, but costs will also keep rising.
The challenge is to find the right funding balance between individuals and taxpayers, and for the system as a whole to remain sustainable.
Why are many health services free?
Australia has a high standard of health care, which supports people to live to a longer, and <a href="https://www.aihw.gov.au/getmedia/7c42913d-295f-4bc9-9c24-4e44eff4a04a/aihw-aus-221.pdf.aspx?inline=true" target="_blank">generally healthier</a>, old age.
Our Medicare system of funding is based on the principle of universal public health insurance which is paid for by the government (that is, the taxpayers). Public patients receive free care in public hospitals. Medical services by GPs and specialists are subsidised, as are many blood tests, X-rays and other imaging, allied health services (such as optometry), and most medicines.
In the year to September 2018, <a href="http://www.health.gov.au/internet/main/publishing.nsf/Content/Quarterly-Medicare-Statistics" target="_blank">86% of all GP attendances</a> were “bulk billed” (provided at no cost to the patient).
These benefits, however, come at a cost. About <a href="https://www.aihw.gov.au/getmedia/7c42913d-295f-4bc9-9c24-4e44eff4a04a/aihw-aus-221.pdf.aspx?inline=true" target="_blank">10% of Australia’s economic output</a> (gross domestic product) is spent on health care and two-thirds of this is funded by governments.
And, of course, not all health services are free for most people. Visits to dentists, physiotherapists and others are regular reminders of this. A more equitable way of funding <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/health/2019-03-18/calls-for-medicare-funded-dental-health-scheme-in-australia/10903574">dental care</a> is one of the emerging issues for the upcoming federal election.
What is home care?
Aged care plays a different role to health care in supporting people to stay at home. There are two forms of home care.
First, the <a href="https://www.myagedcare.gov.au/help-home/commonwealth-home-support-programme" target="_blank">Commonwealth Home Support Program</a> assists with daily activities such as meals, transport and personal care (showering, dressing, and so on) and some allied health services such as physiotherapy and podiatry (foot care).
In 2016-17, <a href="https://www.myagedcare.gov.au/help-home/commonwealth-home-support-programme/accessing-commonwealth-home-support-programme" target="_blank">around 723,000 people</a> received one or more of these services.
Second, Home Care Packages provide <a href="https://agedcare.health.gov.au/programs/home-care/home-care-packages-program" target="_blank">expanded support</a>, with daily activities as well as more complex health care from nurses and allied health workers.
At September 2018, there were <a href="https://www.gen-agedcaredata.gov.au/www_aihwgen/media/Home_care_report/HCP-Data-Report-2018-19-2nd-Qtr.pdf" target="_blank">over 90,000 people</a> receiving one of the government’s subsidised Home Care Packages.
Why are many elderly asked to help pay for home care?
Australia’s population is ageing. In 2017 3.8 million Australians were aged 65 and over. In the next 40 years this will probably <a href="https://www.aihw.gov.au/reports/older-people/older-australia-at-a-glance/contents/demographics-of-older-australians/australia-s-changing-age-and-gender-profile" target="_blank">grow to 8.8 million</a>. The costs of funding aged care will continue to increase.
In 2011, when one of us (Michael Woods) was the presiding commissioner on the <a href="https://www.pc.gov.au/inquiries/completed/aged-care/report/aged-care-volume2.pdf" target="_blank">Productivity Commission’s inquiry into aged care</a>, we put forward three principles to help governments create a sustainable funding models for aged care:
<ul>
<li>
accommodation and everyday living expenses should be the responsibility of individuals, with a safety net for those of limited means
</li>
<li>
health care services provided through aged care (such as nursing and allied health care) should be subject to charging arrangements consistent with those in the health care system
</li>
<li>
individuals should contribute to the cost of their personal care according to their capacity to pay, but should not be exposed to catastrophic costs of care.
</li>
</ul>
The current fee arrangements broadly reflect the intent of these principles.
The government aims to keep fees for the basic <a href="https://agedcare.health.gov.au/sites/default/files/documents/01_2018/client_contribution_framework_guide.pdf" target="_blank">Commonwealth Home Support Program</a> at very affordable levels and has produced fee guidelines for providers. There are no formal income tests and while some providers do no more than seek a voluntary contribution for some services, others may recover around 10% of the cost of some services as direct fees or membership subscriptions.
For the more complex and higher cost home care packages, providers can charge consumers a basic daily fee of <a href="https://agedcare.health.gov.au/programs/home-care/home-care-fees-for-consumers-entering-a-home-care-package-from-1-july-2014#Basic%20daily%20fee" target="_blank">17.5% of the basic rate</a> of the single age pension.
There is also an income-tested care fee, which recognises many older people have a greater capacity to contribute to the costs of their everyday living expenses. As a safety net for all, however, there are annual and lifetime caps on these fees.
The home care system has many issues to address, but it is not in crisis
Despite the <a href="http://www.health.gov.au/internet/ministers/publishing.nsf/Content/health-mediarel-yr2019-wyatt003.htm" target="_blank">growing number</a> of government-subsidised home care packages, the latest aged care statistics show that at December 2018 there were <a href="https://www.gen-agedcaredata.gov.au/www_aihwgen/media/Home_care_report/HCP-Data-Report-2018-19-2nd-Qtr.pdf" target="_blank">over 127,000 people</a> on a national priority list for services that met their needs.
The wait time for some, sadly, is <a href="https://www.smh.com.au/national/elderly-australians-dying-while-they-wait-for-in-home-aged-care-20190316-p514qt" target="_blank">too long</a>. However, some subsidised help is available for nearly all people on the list. Over 96% of people on the list had been offered, and were generally accepting, a lower level of subsidised support while they waited for a higher level of service.
There are also questions about how this queue is created and the assessment process itself that the royal commission may want to follow up.
For example, not all assessments and referrals to services are necessarily based on current needs. At December 2018, <a href="https://www.gen-agedcaredata.gov.au/www_aihwgen/media/Home_care_report/HCP-Data-Report-2018-19-2nd-Qtr.pdf" target="_blank">96,000 people</a> who were waiting for their approved level of home care package also had an approval for a permanent place in residential aged care. This suggests the assessment process may contain an element of anticipating future needs, rather than reflecting current needs.
Another concern with the current assessment process is a lack of focus by some assessors on helping older people to regain a level of independence through short-term “reablement” programs rather than adding them to the queue for ongoing services. As the <a href="https://consultations.health.gov.au/in-home-aged-care-division/streamlined-consumer-assessments-for-aged-care-ser/supporting_documents/Discussion%20Paper%20%20Streamlined%20Consumer%20Assessment%20for%20Aged%20Care.pdf" target="_blank">Department of Health</a> notes, a wellness and reablement approach in assessment and service delivery is not being consistently and effectively applied across the regions.
For the foreseeable future we can expect the government to keep increasing the number of subsidised home care services, but it will also keep a careful eye on the balance between public and private funding, and seek to keep the overall cost to the elderly and to the budget within sustainable limits.<img src="https://counter.theconversation.com/content/112963/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;">
Michael Woods, Professor of Health Economics, University of Technology Sydney
Sarah Wise, Senior Research Fellow in Health Policy, University of Technology Sydney
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/would-you-like-to-grow-old-at-home-why-were-struggling-to-meet-demand-for-subsidised-home-care-112963" target="_blank">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

Would you like to grow old at home? Why we’re struggling to meet demand for subsidised home care

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GUEST OBSERVATION 
The Royal Commission has sparked fresh discussions in Australia surrounding mortgages, in particular, what it means for homeowners who are currently paying interest only loans and how this will shape the Australian property market in years to come.
In-depth investigations during the commission put newfound pressure on Australian Financial Institutions to significantly improve their lending standards and reduce higher risk lending. Currently, approximately 200,000 Australians have interest-only loans but with the government removing the interest-only benchmark at the start of 2019, this figure is set to change drastically.
In the past, Australian banks offered interest-only mortgages to customers which could be renewed every five years. However, the removal of the benchmark now means that homeowners cannot renew interest-only loans and instead, must begin principal repayments as part of their mortgage repayments.
In addition to this, commissioner Kenneth Hayne proposed changes to the mortgage broker industry, whereby the consumer would be required to pay the mortgage broker’s commission, instead of the banks.
These proposed changes have the ability to drastically affect the landscape of the mortgage industry by potentially wiping out the whole mortgage broking system, leaving larger financial institutions with the freedom to set the interest rates however high they choose.
But who will be the most affected if these changes are confirmed? Unsurprisingly, it’s fairly widespread and will impact current Australian homeowners as well as those looking to borrow money, even impacting those in the rental market.
Homeowners will be paying more for their mortgages
There is approximately $360 billion worth of money wrapped up in interest-only mortgages. In the past, mortgage repayments have been dependant on interest rates, which fluctuate due to mortgage brokers and banks offering competitive rates.
But with the expiration of interest-only loans after three-years, homeowners will be required to fork out a lot more for their mortgage repayments, potentially increasing a massive 70%. An example of this is if you are currently paying $3,000 a month in repayments on interest only, interest and principal would escalate monthly repayments to $4,700.
The impact of requiring to pay principal will depend on the financial situation and lifestyle of the homeowner but those with a large property portfolio of interest-only will be hit the hardest.
This means having a buoyant property portfolio will only be available to those who are cashed up, which then leads to a flow on affect in the rental industry.
Tenants will likely experience an increase in rent
Even with the current market experiencing price declines, the prospect of purchasing a home will now seem even more daunting to prospective buyers due to these changes, driving one-third of Australians to rent instead.
Typically, most interest-only loans are covered by the rental income on an investment property. But with investors now set to be more out of pocket due to principal repayments, it’s only natural that this will affect how tenants are charged, with some landlords opting to charge more in rent in an effort to cover the difference.
Less money in the tenant's pockets means less money to put towards their own house deposit and this creates a vicious cycle. It’s unfortunate that salaries do not increase the same way houses do.
The fallout from the commission has led many people to debate how they should react but the truth is, it’s still a bit blurry. Once the new government is in place in May and the new budget is announced, things will start to cement.
But one thing that is certain is it going to be a lot tougher to borrow money, whether it be for investment or as an owner occupier. It’s not that banks don’t want to lend, more the Royal Commission has governed them to be more responsible when it comes to lending. We live in a society where it is very easy to shift the blame to others but at the end of the day, it comes down to each individual’s financial situation and the lifestyle they lead.
Bruce Oliver is the co-founder of Xynergy Realty, a Melbourne-based real estate agency.
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How the Royal Commission will affect the property market: Bruce Oliver

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The Australian Taxation Office (ATO) has filed a wind-up application against Park Trent Properties Group on the ground of insolvency. 
Park Trent Properties Group owes $692,579 in unpaid taxes to the Deputy Commissioner of Taxation.
The paperwork was filed February 22 in the Federal Court and it is set for an April 17 hearing.
The company, founded by Ron Cross in 1989, runs a one-stop investment shop acting as a buyer's agent, selling agent and property manager.
The taxes owing by the Wollongong-based property spruiker include a $385,537 superannuation guarantee charge assessment debt accumulated since 2016.
Park Trent Properties Group was the subject of a 2017 wind-up applications by the tax office in 2017, with Park Trent paying the ATO's legal costs.
Despite the wind-ups orders, the Australian Financial Review reported that Cross had continued to spruik his business, including directly to reporters from that publication. 
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Park Trent Properties again faces wind-up over unpaid taxes 

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Melbourne property developer Melbournia Developments has announced its new project, Couture Armadale.
The 19 apartment low-rise build has been inspired by art deco influences.
The development comprises one, two, three bedroom and penthouse apartments starting from $660,000.
It will be released to the market next month. 
Melbournia Group founder, Zoe Zhu commented that Couture Armadale's would be "tastefully executed".
"We’re expecting interest from a mature and cultured market who have a honed appreciation for beauty and are ready to indulge in life a little,” said Zhu.  
“People are clear about why they want to live in the area and expect that the advantages and prestige the area affords them will be directly experienced in their own living environments.”
Kevin Phuong, a director of Melbournia Group, said the theme was chosen before the site was acquired.
Melbournia Developments collaborated with architecture, interior design, and urban planning firm Peddle Thorpe.
Peter Brook, director at Peddle Thorpe, Melbourne said Couture Armadale had been approached with "a level of integrity that is rare in the industry".
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Melbournia Developments launch art deco inspired Couture Armadale

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The so-called bird nest building - one of the most striking buildings in Sydney's newest CBD precinct Barangaroo - has hit the market with a price guide of $35 million.
CBRE director James Parry said the three storey circular was a trophy asset likely to be bought by high net worth individuals, both locally and internationally.
“Located in the buzzing Barangaroo South precinct, facing the harbour and enjoying uninterrupted views from every floor, 35 Barangaroo Avenue represents an opportunity to invest in a well-positioned iconic asset,” Parry said.
It has been listed by Lendlease, who have developed the precinct of Barangaroo which will be home to more than 23,000 workers and residents.
In 2014, chef Matt Moran announced he would open a three-storey restaurant in the harbour-front Barangaroo precinct, known as Barangaroo House.
The restaurant sits in a striking building designed by architects Collins and Turner. 
The charcoal building will resemble several stacked shallow bowls, one of about 50 food and beverage outlets at Barangaroo South.
The restaurant will have a casual lower floor, a more premium restaurant on the middle floor along with a rooftop garden bar.
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Barangaroo's bird nest building listed at $35 million

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Just as the Townsville residential property market appeared cemented in the start of the recovery phase, according to Herron Todd White, floods have hit and perhaps turned that on its head.
After a mining downturn, Townsville has been dealing with heightened levels of unemployment, said the valuer. 
Now, there is some fear the recent flooding will lead not only to a reduction in tourists but economic strength as the clean-up slows down activity.
HTW's latest residential report stated the rental vacancy rate has fallen throughout the year, while there has also been a slight increase in rents in some locations, primarily inner city postcodes.
There is also concern over the rental housing market.
However, the report noted there had not been the ripple effect of the increased activity transfer through to the market in the fringe or outer suburbs. 
It is these fringe and outer suburbs which were hit hardest by the flooding.
In fact, insurers have received more than $100 million in claims so far.
The State Government and Townsville Mayor Jenny Hill have requested insurance companies to use local businesses as much as possible to support the local economy.
Townsville Chamber of Commerce chief executive Marie-Claude Brown said she is concerned industries like retail and hospitality in particular will now take a hit as these businesses can't be supported in the same way a construction/renovation business can.
HTW's report cited major projects such as the Townsville Stadium and Haughton pipeline duplication underway along with a number of projects in the pipeline as reasons for optimism and improving economic conditions.
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Has the Townsville housing market taken a hit following the floods?

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GUEST OBSERVATION
Companion animals are part of our families, but inevitably the time comes for us to say goodbye to them due to old age or disease.
Many pet lovers opt to bury their pets in the backyard. However, there are some hidden risks to this, and there are other options that will help other pets, and even the owners who love them.
Donating their body to science, for research and veterinary training, can potentially help hundreds of pets.
Why the backyard isn’t best
Backyard burial may seem like the easiest way to respectfully take care of your pet’s remains. Unfortunately, it can be dangerous for other pets and wildlife. Most pets are put to sleep with an extremely concentrated anaesthetic agent, which results in a very peaceful death (hence the term euthanasia, which means “good death”). However this drug, pentobarbital, persists in the buried body of the pet for up to a year. Any animal scavenging on the remains will be poisoned by the euthanasia solution.
I have seen two cases in my career where this has happened, with serious consequences. In one case a family had their pet mouse put down and buried it in the backyard. The family’s terrier dug up and ate the mouse, and was comatose in intensive care for nearly a week. In another case, two farm dogs scavenged some bones from a cow which had been euthanased on a farm months before. One dog died and the other was seriously ill for several days.
If your pet dies of a disease which could be spread to other animals or even people, their body might also pose a risk. While vaccination has reduced the amount of dangerous pet diseases in the community, some diseases like <a href="https://theconversation.com/vaccinate-your-puppies-a-new-strain-of-parvo-has-been-found-in-australia-77236" target="_blank">parvovirus</a> still occur in outbreaks and are very hardy and spread readily between dogs.
This virus causes severe and sometimes fatal gastrointestinal disease in puppies and young dogs. Thankfully there are not many diseases we can catch from our pets, but some – such as salmonellosis and toxoplasmosis – can make sensitive people very ill.
What do to instead
One option is pet crematoriums and cemeteries, which are available in most large cities and regional centres in Australia. The services are very professional and cover a variety of options and price ranges that suit most pet owners. Costs may vary with the size of the pet.
Professional burial or cremation avoids the risks of environmental contamination or disease that might occur with backyard burial. For my own pets which have passed away, I chose cremation which typically costs A$200-300, and then buried their ashes under a memorial tree in my garden.
However, there is another path. As a veterinary pathologist, my job is to conduct autopsies on animals to determine their cause of death. We also use the knowledge and samples we get from the autopsies to conduct research to improve our understanding of diseases and treatments in both animals and people.
Our pets make excellent “<a href="https://www.cancer.gov/publications/dictionaries/cancer-terms/def/animal-mode" target="_blank">models</a>” of diseases in both pets and people, allowing scientists to study the development and progression of a disease and develop new treatments.
Cancer is the <a href="https://www.propertyobserver.com.au/https://www.ncbi.nlm.nih.gov/pubmed/26566160" target="_blank">most common cause of death</a> for pet dogs. Many popular breeds get the same cancer at high rates, providing ample valuable research material. These dog cancers are similar in appearance, behaviour, treatments and genetic causes to many human cancers.
What’s more, because dogs share our home environments, but age faster and show more rapid cancer progression than humans, studying dogs provides <a href="https://www.propertyobserver.com.au/https://www.ncbi.nlm.nih.gov/pubmed/26566160" target="_blank">faster research results</a>. In the United States, dog cancer trials are already informing trials on <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC2753665/" target="_blank">new human treatments</a>.
Another area where dogs are valuable scientific allies is in the study of rare genetic and developmental diseases in children. As we have bred dogs for specific appearances, from squishy-faced French bulldogs to lanky greyhounds, we have unwittingly created genetic abnormalities. Some of these are <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5070630/" target="_blank">close counterparts</a> of rare genetic disorders <a href="https://www.propertyobserver.com.au/https://www.ncbi.nlm.nih.gov/pubmed/20075379" target="_blank">in children</a>. Thus, dogs can be used to help identify the genetic mutations behind the disease, and <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5070630/" target="_blank">how the faulty gene</a> affects human children.
Universities have rigorous ethical reviews for this type of research. However, it is vital that we have the opportunity to take samples of both common and rare pet diseases to form tissue banks. Most of this sampling happens during an autopsy after the pet has died or been put to sleep. These tissue samples are used to research better treatments.
How to donate
If you are interested in donating your pet’s body, your veterinarian can direct you to potential local options. In most large cities this will be the veterinary school at the local university. Alternatively, you can contact the veterinary science school directly through their website or general enquiries telephone number.
Most schools are interested in all species for teaching. My institution takes everything from mice to horses, and exotic pets like snakes and lizards. All these species provide opportunities to learn about their anatomy and diseases.
Beyond helping us research human diseases, veterinary schools need pet body donors to help teach anatomy, surgery and pathology. At its most ethical this training is done on the bodies of animals that have died from natural causes.
Donated pets provide my students with a valuable understanding of how disease affects the body. Further, we report the autopsy findings back to the pet’s veterinarian. This information is crucial to vets who want to confirm diagnoses, and for giving grieving owners some closure.
If you do opt to bury your euthanased pet, please consider enclosing their remains in a container that would prevent other animals accessing the body. Many local councils also have restrictions on pet burial, and it is worth looking at your local area’s guidelines.
Ultimately though, I would urge you to donate your pet’s body to science. The loss of a pet can be heartbreaking, but there are many ways to create a meaningful legacy from that loss which helps both pets and people.<img src="https://counter.theconversation.com/content/113375/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;">
Rachel Allavena, Associate Professor, The University of Queensland
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/why-you-shouldnt-bury-your-pet-in-the-backyard-113375" target="_blank">original article</a>.
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Why you shouldn’t bury your pet in the backyard

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A Gladstone coastal land holding with development opportunities has been listed for sale via expressions of interest.
Situated at <a id="LPlnk706759" href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39R+6hBQZ7yXMt0Z3VIjNMZG40szXCCu3Sh5Ey0w4Kgy1BZFFL9hk1g2ZHtHaapiIlE=&amp;rh=ff004855b575d2bd990ec549984891183d3498d4" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">485 Tannum Sands Road</a>, the parcel offers 1,511 hectares of land across three titles and comes with main road frontage that allows for access. 
The site is being marketed by Ray White Special Projects QLD directors Tony Williams and Mark Creevey.
Williams said the asset was directly adjacent the approved $1.2 billion Hummock Hill Tourism redevelopment and offered potential buyers a number of different options.
“Here we have an excellent potential master planned development and/or tourism venture opportunity, subject to relevant approvals,” he said. 
“What is in place though, is existing permits for sand mining operations, with approvals to clear vegetation in-line with those permits.” 
Creevey said the location of the site was a drawcard and was complemented by the potential growth around the asset. 
“The parcel adjoins existing residential development as well as being surrounded by proposed tourism projects and commercial redevelopment,” he said. 
“Being positioned so close to the Bruce Highway, offering connectivity north and south, is another real positive for the site.” 
Expressions of interest close March 20 2019.
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1500 hectare coastal Gladstone land holding with development potential listed

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EXPERT OBSERVER
The Bureau of Statistics reports that Australian home prices fell by 2.4 per cent in the December quarter to stand 5.1 per cent lower over the year.
The number of established house and attached home transfers in Sydney fell to 13,991 in the December quarter – the lowest level in 15½ years.  
The weekly ANZ-Roy Morgan consumer confidence rating rose by 2.2 per cent - the biggest lift in four months - to 111.9 points. But consumer sentiment remains below both the average of 114.3 points held since 2014 and the longer term average of 113.1 points since 1990.
Minutes of the last Reserve Bank Board meeting were released. The Board kept the cash rate unchanged at a record low 1.5 per cent on March 5 and said “members agreed that there was not a strong case for a near-term adjustment in monetary policy.
Rather, they assessed that it would be appropriate to hold the cash rate steady while new information became available that could help resolve the current tensions in the domestic economic data.” 
Home price data is important for retailers, especially those focused on consumer durables. The consumer confidence figures have implications for retailers, and other consumer-focused businesses. The Reserve Bank Board minutes provides guidance on interest rate settings.
</div>
<div>
What does it all mean?
The Reserve Bank released its monetary policy Board minutes today. Its neutral stance was retained with policymakers again highlighting tensions between softening economic activity and the solid labour market, with ongoing jobs market strength considered “particularly important” to its outlook. 
But the Board’s resolve continues to be tested by the property downturn, noting that “dwelling investment was expected to subtract from growth in output…. this decline could be sharper than currently expected.” In particular, policymakers appear particularly concerned about the spillover effect of falling property prices on household spending. 
And the negative wealth effect from falling property prices is most acute in Sydney and NSW with the Reserve Bank minutes highlighting that “growth in retail sales had been particularly weak in NSW….Some part of the slowdown in retail and motor vehicle spending in NSW was likely to have been related to declines in housing prices and, in particular, lower turnover in the housing market.” 
In fact, according to Bureau of Statistics data, the number of transfers of established houses and attached dwellings in Sydney has fallen to the lowest since March 2003.  
Consumer confidence bounces around from week-to-week. The lift in the value of the Aussie dollar last week likely boosted sentiment. But the tragic events in New Zealand on Friday would’ve been ‘front of mind’ for most Aussies, adding to the growing sense of consumer unease.
What do the figures show?
The weekly ANZ-Roy Morgan consumer confidence rating rose by 2.2 per cent – the biggest lift in four months – to 111.9 points. But consumer sentiment remains below both the average of 114.3 points held since 2014 and the longer term average of 113.1 points since 1990.
Four out of the five major components of the index rose last week:
The estimate of family finances compared with a year ago was up from +2.0 points to +8.1 points;
The estimate of family finances over the next year was up from +22.2 points to +24.3 points;
Economic conditions over the next 12 months was up from -5.4 points to -0.9 points;
Economic conditions over the next 5 years was up from +5.4 points to +5.5 points;
The measure of whether it was a good time to buy a major household item was down from +23.4 points to +22.8 points.
The measure of inflation expectations fell from 4.1 per cent to 4.0 per cent.  
Residential property prices
The Bureau of Statistics (ABS) has released its Residential Property Price indexes for the December quarter. The ABS noted:
“The price index for residential properties for the weighted average of the eight capital cities fell 2.4 per cent in the December quarter 2018. The index fell 5.1 per cent through the year to the December quarter 2018.”
“The capital city residential property price indexes fell in Sydney (-3.7 per cent), Melbourne (-2.4 per cent), Brisbane (-1.1 per cent), Perth (-1.0 per cent), Canberra (-0.2 per cent) and Darwin (-0.6 per cent), and rose in Hobart (+0.7 per cent) and Adelaide (+0.1 per cent).” 
"Annually, residential property prices fell in Sydney (-7.8 per cent), Melbourne (-6.4 per cent), Darwin (-3.5 per cent), Perth (-2.5 per cent) and Brisbane (-0.3 per cent) and rose in Hobart (+9.6 per cent), Canberra (+1.8 per cent) and Adelaide (+1.5 per cent).” 
"The total value of residential dwellings in Australia was $6,677,797.4m at the end of the December quarter 2018, falling $133,057.1m over the quarter.” (The decline was 2 per cent).
“The mean price of residential dwellings fell $15,700 to $651,100 and the number of residential dwellings rose by 42,600 to 10,256,700 in the December quarter 2018.” 
CommSec estimates that the number of people per home was steady at 2.46 in the December quarter. 
The value of all dwellings in Australia in the December quarter was 3.9 per cent lower than a year ago. Over the year, the value of homes was higher in Tasmania (up 8.0 per cent); Queensland (up 2.5 per cent); South Australia and the ACT (both up 1.4 per cent). But home values were lower in NSW (down 6.6 per cent); Victoria (down 5.5 per cent); Northern Territory (down 4.9 per cent) and Western Australia (down 2.3 per cent).
The number of all homes in Australia rose by 42,600 in the December quarter and rose by 184,900 over the year.
Reserve Bank March Board minutes:
Economic outlook: “Looking forward, the central forecast scenario was still for growth in GDP of around 3 per cent over 2019.” 
Jobs market outlook: “…the central forecast scenario was still for a further decline in the unemployment rate to 4¾ per cent over the next couple of years. This further reduction in spare capacity underpinned the forecast of a gradual pick-up in wage pressures and inflation. Given this, members agreed that developments in the labour market were particularly important….leading indicators continued to suggest that employment growth was likely to remain above average, although some indicators had turned down a little recently.”
Wages growth: “Private sector wages growth had picked up further in the December quarter, consistent with the Bank's forecasts and survey evidence that a significant share of firms were finding it difficult to attract suitable labour.”
Consumer spending: “…there continued to be considerable uncertainty around the outlook for consumption given the environment of declining housing prices in some cities, low growth in household income and high debt levels.” 
Housing outlook: “Dwelling investment was expected to subtract from growth in output over the forecast period and, unless pre-sales volumes started to increase, this decline could be sharper than currently expected.”
Business lending: “Members observed, however, that the growth in business lending had been entirely to large businesses, with one estimate suggesting that lending to small businesses had declined slightly over the preceding year. There had been greater caution around lending to small businesses in response to the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry. Lower housing prices had also reduced the value of collateral for loans to small businesses.”
Trade: “…the increases in tariffs implemented in 2018 had continued to weigh on trade between the United States and China, and there had been spillover effects on some other economies. Notably, a decline in Chinese imports, both to meet domestic demand and facilitate export production, had been apparent in export growth in the September quarter in east Asia. Intra-regional export growth had also eased.”
Inflation outlook: “While the labour market had continued to strengthen, less progress had been made on inflation.”
Change in rate stance: “..members assessed that the current stance of monetary policy was supporting jobs growth and a gradual lift in inflation. However, members noted that significant uncertainties around the forecasts remained, with scenarios where an increase in the cash rate would be appropriate at some point and other scenarios where a decrease in the cash rate would be appropriate. The probabilities around these scenarios were more evenly balanced than they had been over the preceding year.”
Rates on hold: “..members agreed that there was not a strong case for a near-term adjustment in monetary policy. Rather, they assessed that it would be appropriate to hold the cash rate steady while new information became available that could help resolve the current tensions in the domestic economic data.”
What are the implications for interest rates and investors?
Recent surveys suggest that most Aussie households remain cautious, preferring to pay down mortgage and credit card debt, rather than lift discretionary spending on household goods. The solid job market, however, has been a support for consumers, despite slow wages growth.
Consumer sentiment is expected to remain volatile, given increased household anxiety about their financial situation with home prices down and petrol prices up across the country. And recent news that the Aussie economy shrank for two consecutive quarters (in the second half of 2018) on a per capita basis - for the first time since 2006 - has weighed on consumers’ views of the economy. 
Given continuing uncertainty around consumer spending, the future direction of interest rates appears contingent on a continuation of solid jobs growth, tepid wages growth and a recovery in global economic activity in the second half of this year. But the ‘wildcard’ remains political uncertainty and business confidence, especially in NSW. If the state’s election on Saturday results in a hung parliament, business and consumer confidence could be eroded, despite unemployment being at multi-decade lows.
It appears that whoever wins Federal government in May will need to unleash some fiscal initiatives, including a bring-forward of proposed tax cuts, to encourage consumers to spend.
CommSec expects interest rates to be unchanged for the foreseeable future.
RYAN FELSMAN is a Senior Economist for CommSec
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Sydney home sales activity hits 15½ year low: Ryan Felsman

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Accor has chosen Australia as the first Asia Pacific market to, in partnership with sbe, launch the Hyde hotel and lifestyle brand.
This follows Accor's recent acquisition of a 50% stake in sbe in October 2018. 
This launch comes in the form of Hyde Paradiso, due to open on Monday April 1. 
Situated on an elevated beachfront space formerly occupied by restaurant and bar Seaduction in the Peppers Soul hotel in Surfers Paradise, the property has 180 degree ocean views.
It is inspired by LA’s famous Sunset Strip.
The venue will open all day and evolve into an evening lounge and dining experience.
Sam Nazarian, Founder and CEO of sbe said, “everyone at sbe is hugely excited to expand our hospitality brands through the strategic partnership with Accor and to work closely with Simon McGrath and his talented team."
"The sbe portfolio will grow to over 50 hotels by 2020, paired with tremendous expansion in the residential, culinary and entertainment venues, including over 150 global venues in the pipeline," she added.
<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/2019/3/7/Hyde%20Paradiso_Sgroppino%20Room.jpg" alt=""> 
The 385 sqm venue will feature a 130-seat restaurant, a 12-metre-long bar and an exclusive 14-person private dining room equipped with its own sgroppino bar.
Hyde Paradiso follows shortly after the opening of Hyde Hotel and Residence Midtown Miami, a 42 storey property with 60 hotel rooms and 410 sold-out luxury residences, with interiors by award-winning designer, David Rockwell in a building designed by Arquitectonica.
<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/2019/3/7/Hyde%20Paradiso_dining%20view.jpg" alt="">
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Accor and sbe to launch Hyde brand in Australia

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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