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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.
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Accor and sbe to launch Hyde brand in Australia

<a href="https://www.apartments.com.au/developers/consolidated-properties">Consolidated Properties Group</a> (CPG) is approaching the launch of its latest Brisbane riverfront development, Castile, on the dress circle Skyring Terrace in Newstead.

VIP buyers are now being engaged, with a full public sales launch coming later this year.

Positioned as the final opportunity to secure a new absolute riverfront residence on the East bank of Newstead, Teneriffe or New Farm, Castile at 47 Skyring Terrace has been designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> as a timeless addition to the Brisbane skyline.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371113]

The name Castile draws on themes of permanence, sophistication and legacy, reflecting a broader vision centred on enduring architecture and timelessness in the rarest of riverfront positions.&nbsp;

CPG Chairman and CEO Don O’Rorke said the project had been envisioned as a future Brisbane icon.&nbsp;

“With 47 metres of direct river frontage and never to be built out views, 47 Skyring Terrace is the definitive address on the Brisbane River,” O’Rorke said.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371114]

“Rather than following trend-based apartment design, Castile draws inspiration from Brisbane’s great heritage buildings, reinterpreting classical architecture into a contemporary riverfront landmark designed to stand proudly for the next 100 years,” he said.&nbsp;

The approved development will comprise 227 apartments across a 25-storey tower alongside a boutique six-storey riverfront building of just 12 residences.&nbsp;

Construction is scheduled to commence in September 2026.

[smartcode_project_cta:default project_id=150489]

Joel Robinson

CPG unveils Castile Newstead ahead of upcoming sales launch

Australia’s online shopping habits have shifted dramatically over the last decade. As eCommerce volumes surged, so too did the frustrations that came with traditional parcel delivery: missed deliveries, long Post Office queues, parcel theft and the challenge of being home during business hours.

Australia Post’s Parcel Lockers emerged as one of the more practical responses to that changing consumer behaviour.

What started as a relatively niche delivery option has evolved into a nationwide network of more than 1,400 self-service Parcel Lockers positioned at train stations, shopping centres, supermarkets and Post Offices across the country. The system allows Australians to send, collect and return parcels 24 hours a day, fundamentally changing how many people interact with deliveries.

The appeal is relatively straightforward: flexibility.

Instead of waiting at home for a delivery driver or rushing to a Post Office before closing time, users can direct eligible parcels to a Parcel Locker location of their choice. Once the parcel arrives, Australia Post sends a notification with a collection code or QR access through the AusPost app, allowing customers to retrieve their package at any time within the collection window.

For apartment residents in particular, the system has become increasingly valuable.

Higher-density living has created logistical challenges around deliveries, especially in buildings without concierge services or secure parcel rooms. Missed deliveries are common, while parcel theft has become an increasing concern as online shopping volumes continue to rise.

Australia Post itself has repeatedly highlighted the growing issue of “porch pirates” during peak shopping periods, encouraging customers to use Parcel Lockers as a safer alternative to unattended home deliveries.

That security aspect is one of the key reasons the Australia Post Parcel Locker network has grown so rapidly.

Parcel Lockers are positioned as secure, monitored collection points that reduce the risk of theft while also improving delivery efficiency for Australia Post. Instead of multiple redelivery attempts, parcels can be consolidated into a single secure destination.

The Parcel Lockers themselves are free to use through a MyPost account and support a range of parcel sizes up to 16 kilograms and dimensions of approximately 35 x 44 x 61 centimetres.

Beyond receiving parcels, the system has increasingly become integrated into the broader eCommerce ecosystem.

Customers can now use Parcel Lockers to return online purchases, while retailers have embraced the model as a way to improve delivery success rates and reduce friction in the shopping process. Australia Post has actively expanded partnerships with major retailers and promoted Parcel Lockers as part of a broader out-of-home strategy.

The timing of that expansion aligns with broader changes in Australian shopping behaviour.

The acceleration of online retail during and after the pandemic placed enormous pressure on delivery infrastructure. Parcel volumes reached record highs, particularly during Black Friday and Christmas periods, with Australia Post delivering more than 100 million parcels during peak festive seasons.

That growth forced logistics providers to rethink the “last mile” of delivery, widely regarded as the most expensive and operationally difficult stage of the process.

Parcel Locker systems have increasingly been viewed as part of the long-term solution.

The concept itself is not unique to Australia. Parcel Locker networks have become common globally, particularly across Europe and Asia, where dense urban environments and apartment living create similar logistical challenges. But Australia’s geography and suburban sprawl made adoption slower initially.

Now, however, the convenience factor is driving mainstream usage.

For commuters, Parcel Lockers near train stations allow parcels to be collected on the way home from work. For apartment dwellers, they remove the uncertainty around access and missed deliveries.

The rise of the AusPost app has also streamlined the experience, centralising notifications, tracking and Parcel Locker access into a single platform. Australia Post has increasingly pushed customers toward app-based delivery management, partly as a way to combat phishing scams and fake delivery notifications, which have become more sophisticated in recent years.

The Parcel Locker model is also beginning to influence property development itself.

Parcel management has become a growing consideration in apartment building design, particularly as online shopping becomes embedded in everyday life. Many new residential developments are now incorporating dedicated parcel rooms or Parcel Locker systems into foyers and communal spaces.

For developers, parcel management is increasingly viewed as part of the broader resident amenity offering, alongside gyms, wellness spaces and communal work areas.

That reflects a wider evolution in how residential buildings are designed.

Apartment buyers are placing greater emphasis on convenience, security and operational functionality, particularly in higher-density urban environments. Parcel delivery, once considered a minor operational detail, has become an increasingly important part of that equation.

Australia Post’s Parcel Locker network sits at the centre of that behavioural shift.

What began as a simple alternative delivery option has evolved into a key piece of infrastructure supporting Australia’s growing eCommerce economy and changing urban lifestyles.

And as online shopping continues to expand, the role of Parcel Lockers is likely to become even more embedded in how Australians live, shop and receive goods.

How Australia Post Parcel Lockers changed parcel delivery convenience in Australia

Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Staff reporter

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