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<p>Stockbroker Shaw Partners expects another McGrath Estate Agents downgrade after it has already missed its targets for the first half of the year.</p>
<p>"We have never liked the stock, disputed the "stickiness" and "defensive" nature of rent rolls," its savage note said.</p>
<p>Its analysts have downgraded the share price of McGrath to as low as 22 to 25 cents, Fairfax Media reported.</p>
<p>It said McGrath management had "zero credibility."</p>
<p>Its note to clients was titled Titanic. McGrath shares rose in morning trade to 54 cents today, up 3 cents. </p>
<p>"When you have mass exodus of agents something stinks internally and of course there are the external structural challenges," its note says.</p>
<p>"The 'corporate' angle is likely to keep the stock at higher levels than it should be, use this as a chance to sell.</p>
<p>"Company looks set to do $4 million to 4.5 million in EBITDA, being generous and implying a 40 to 60 per cent improvement on the first half," its note said.</p>
<p>"The cost cuts have gone as far as they can while leaving the company with the resources to benefit from market improvement," Shaw said.</p>
<p>Bell Potter which underwrote the McGrath float at an earning multiple of 8.8 (to enterprise value) in the $2.10 IPO price has moved to a "sell" recommendation.</p>
<p>"In our view the lack of a leadership team and also options for the company (outside of privatising) support this recommendation," Bell Potter said.</p>
<p>Without spending a cent, John McGrath resumed defacto leadership of the company this week amid board and company tumult.</p>
<p>Key sales staff and a big private shareholder have backed him to turnaround the company he founded 30 years ago, perhaps by taking it private.</p>
</div>
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<p> </p>
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j.ballantyne1990-6AQqhLzZaK

McGrath Group share price could fall by half again: stockbroker

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<div>House prices are likely to rise only modestly across Asia-Pacific (APAC) in 2018, with regulatory tightening, rising interest rates and declining affordability acting as a drag in most markets, says Fitch Ratings in a new report. <br><br>Monetary tightening in the next few years - globally and within the region - will gradually bring to an end the ideal conditions that have supported housing markets over much of the last decade.</div>
<div> </div>
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<div> </div>
<div> <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/2018/1/24/fitch%201.jpg" alt="">
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<div> </div>
<div>However, tightening is unlikely to be enough to trigger a sharp correction during 2018, Fitch suggest.<br><br>Regulators have taken steps to contain price rises in most of APAC's major markets in recent years.</div>
<div> </div>
<div>"There were signs of these steps gaining traction in 2017 in the main hotspots - Australia, New Zealand and China - where price growth slowed from the double- to single-digits.<br><br>"Several APAC markets will soon start to feel the impact of China's limits on overseas foreign-currency transfers.</div>
<div> </div>
<div>"Australia and New Zealand have attracted particularly strong Chinese investment.</div>
<div> </div>
<div>"Australia has placed its own limits on foreign, non-resident buyers, while we expect New Zealand to introduce restrictions this year.<br><br>"We forecast house-price growth across Australia's eight capital cities to slow to 2%, from 5% in 2017.</div>
<div> </div>
<div>"Low interest rates and high population growth are likely to support prices, but rising supply, falling rental yields, tighter lending standards, foreign-ownership restrictions, and income growth lagging cost of living increases will dampen price gains.</div>
<div> </div>
<div>"Moreover, stable economic performance and prudent underwriting standards are likely to help contain increases in arrears as mortgage rates rise.'<br><br>Fitch forecast arrears in most APAC markets to remain below 0.5%.</div>
<div> </div>
<div>"The impact is likely to be slightly more pronounced in Australia and New Zealand as house-price growth stabilises, especially in big cities.</div>
<div> </div>
<div>"Household debt is high in both countries and most mortgages have flexible rates, which leaves borrowers more exposed to faster-than-expected interest rate rises." </div>
<div>
<br>There global report advised in New Zealand, strong population growth and sluggish housing construction - particularly in Auckland - are likely to result in continued supply shortages, despite regulatory tightening. We expect house-price growth to pick up, but only slightly, to 3.0%.<br><br>Fitch's Global Housing and Mortgage Outlook includes analysis of house prices, arrears and mortgage lending volumes for 22 countries, including Australia, China, Japan, Korea, New Zealand and Singapore in APAC.</div>
<div> </div>
<div>National house prices are forecast to rise this year in 19 of 22 markets highlighted by Fitch Ratings in a new report, but growth is expected to slow in most markets and risks are growing as the prospect of gradually rising mortgage rates comes into view this year. </div>
<div> </div>
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<div> </div>
<div>"Arrears are at very low levels in most markets. They will only move in one direction as mortgage rates rise slowly due to higher policy rates and more expensive bank funding from the gradual unwinding of quantitative easing. Floating-rate loans and borrowers refinancing to new rates will be first affected," said Suzanne Albers, Senior Director, Structured Finance, Fitch Ratings. </div>
<div> </div>
<div>"We expect home prices to stabilise in Sydney and Melbourne. However, if corrections are only limited after several years of very high growth, the risk of large price declines in future downturns remains," added Ms. Albers. </div>
<div><span style="font-family: Georgia, serif;"> </span></div>
<div><span><span style="font-family: Georgia, serif;"><span> </span></span></span></div>
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Australian house price growth to slow to 2 percent: Fitch Ratings

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<p>The former Labor state government minister Carl Scully has been appointed among the community and business leaders to chair the Sydney Planning Panels that make decisions on major development proposals.</p>
<p>The appointments were announced by the Department of Planning and Environment’s executive director of regions, Steve Murray, who said the new chairs bring a high level of expertise to the panels.</p>
<p>“The decisions made by the Sydney Planning Panels will be independent and based on the merits of the proposals that are put before them.”</p>
<p>The four new Planning Panel Chairs are:</p>
<ul>
<li>The Hon. Carl Scully — Sydney Eastern City Planning Panel</li>
<li>Mr Justin Doyle — Sydney Western City Planning Panel</li>
<li>Professor Helen Lochhead — Sydney South Planning Panel</li>
<li>Mr Peter Debnam — Sydney North Planning Panel</li>
</ul>
<p>The new chair of the Sydney Central Planning Panel is expected to be determined in the coming weeks. </p>
<p>The new chairs have been appointed because the roles of Sydney Planning Panel Chair and District Commissioner of the Greater Sydney Commission have been separated. </p>
<p>The appointments followed consideration of 70 applications by a selection panel. </p>
<p>Currently, the projects they assess are valued over $20 million but from the 1st March that threshold will be increased to $30 million.</p>
<p>The panels also act as the relevant planning authority in some decisions when directed by the Minister for Planning or the Greater Sydney Commission, undertake rezoning reviews, and provide advice on planning and development matters when requested.</p>
<p><span style="font-family: Arial, Helvetica, sans-serif; font-size: 1em; font-weight: bold;">Carl Scully — Sydney Eastern City Planning Panel</span></p>
<p>A former minister of the NSW parliament, Mr Scully’s career spans more than 30 years in the public and private sectors. He practised law for seven years before embarking on a 17-year political career. For almost 12 of those years he served in ministerial positions involved in the delivery of major infrastructure projects including the portfolios of public works and services, roads and transport, and housing. He returned to the private sector in 2007 where he has worked for WorleyParsons, most recently as director of International Business Development. In 2015, he was appointed as Chair of the NSW Mine Safety Advisory Council.</p>
<p><span style="font-family: Arial, Helvetica, sans-serif; font-size: 1em; font-weight: bold;">Justin Doyle — Sydney Western City Planning Panel</span></p>
<p>Mr Doyle is a lawyer focused on planning and environment law, with 11 years’ experience as a practicing barrister, and 10 years before that as a solicitor. He has been the lead counsel for a team of barristers acting for the Commonwealth Department of Infrastructure in cases on the land at Badgerys Creek to allow for the development of Western Sydney Airport. His work also includes land contamination issues and the redevelopment of the former James Hardie asbestos plant which includes negotiations with the Department of Lands and Parramatta Council.</p>
<h4>Professor Helen Lochhead — Sydney South Planning Panel</h4>
<p>For more than 20 years Prof Lochhead has combined university teaching with her practice as an architect specialising in complex large-scale projects. She is currently Dean of the Faculty of the Built Environment at the University of NSW. Prior to that her career focused on the planning and delivery of major projects ranging from a five-year city improvements program for the City of Sydney to major urban regeneration projects. Prof Lochhead has extensive experience on university, government and industry committees, panels and boards, most notably as the National Board of the Australian Institute of Architects, Central Sydney Planning Committee, Sydney Harbour Design Review Panel and the NSW Heritage Council.</p>
<p><span style="font-family: Arial, Helvetica, sans-serif; font-size: 1em; font-weight: bold;">Peter Debnam — Sydney North Planning Panel</span></p>
<p>Mr Debnam served as leader of the opposition of the NSW parliament as well as holding several shadow ministerial positions including shadow minister for planning<br>and urban affairs and housing from 1997 to 1999. Before politics Mr Debnam had broad management experience starting with his<br>military service followed by business development and general management in the aerospace and rural service industries. He completed an MBA in 1993.<br>Since leaving politics in 2011, Mr Debnam has contributed to charities and not for profit organisations including as the Chair of NSW Kids in Need Foundation Limited,<br>The Muscular Dystrophy Association of NSW, and the Advisory Board of Our Big Kitchen Limited.</p>
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Carl Scully gets eastern Sydney planning posting from State Government

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<p>A group of 20 Southbank townhouse unit owners in Melbourne have banded together with hopes of securing a combined $25 million as a development site offering.</p>
<p>The four-block property, Coventry Square at <a href="https://www.realestate.com.au/sold/property-apartment-vic-southbank-119872805" target="_blank">77 Coventry Street </a> stands on a 1483 square metre site close to South Melbourne market amid high-rise towers.</p>
<p>The hope for a significantly better return than their separate market rate as recent sales have been around $630,000 for a two-bedroom apartment.</p>
<p>Coventry Square comprises 12 two-bedroom apartments and eight three-bedroom apartments with the proceeds to be divided based on council rate valuation percentages.</p>
<p>Collective sales require approval from 100 per cent of owners.</p>
</div>
<div class="related-quotes section">The Coventry Square offering was put together by Christian Ranieri and Ed Wright of RPM Real Estate Group.</div>
<div class="related-quotes section"> </div>
<div class="related-quotes section">Wright says the site was attracting interest as a possible hotel development given its close proximity to the Southbank arts precinct, and as an office or commercial development which are extremely attractive in the current market.</div>
<div class="cq-article-content-paras section">
<p>Without any immediate approvals, the building will generate rental income with two-bedroom apartments renting for $500-530 per week and three-bedders at $630-660 per week.</p>
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Collective Southbank strata exit with $25 million hopes for 20 vendors

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<p><span>At Sorrento on the Mornington Peninsula, some $3.5 million to $3.6 million is being tipped for the homes of </span><span>Steve and Vicky Smith of Smith Builders .</span></p>
<p>They have listed their <a href="https://www.realestate.com.au/property-house-vic-sorrento-127255370" target="_blank">Wolveridge Architects-designed beach house</a>, fully furnished by Coastal Living.</p>
<p><span>The four-bedroom, three-bathroom property is set on a 1345 sqm lot.</span></p>
<p><span><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/2018/1/24/SORR2.jpg" alt=""></span></p>
<p><span>It combines rammed earth and recycled timbers in a light-filled, open-plan design featuring a skylit Miele kitchen, bespoke cabinetry, a Jetmaster open fire and a double garage. </span></p>
<p><span>There are multiple outdoor retreats, landscaped gardens and a heated pool. </span></p>
<p><span>Rob Curtain of Peninsula Sotheby’s International Realty has the listing.</span></p>
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Architect designed Sorrento home for sale

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<p>The Agency has entered Sydney's Northern Beaches with agents David Rothschild and Lincoln McCarthy.</p>
<p>"David’s market knowledge in the broader Seaforth area is unparalleled and in my view, he is one of the most experienced negotiators in Sydney,” says Matt Lahood, The Agency’s CEO.</p>
<p>“And when it comes to Lincoln McCarthy, well he is one of the future ‘super stars’ of real estate in my opinion.”</p>
<p>David Rothschild has specialised in the premium property market across Seaforth, Clontarf, Balgowlah Heights, Balgowlah, North Balgowlah, Fairlight and Manly, having transacted over $750 million in local residential sales. </p>
<p>“The Agency’s innovative systems, and new approach to selling and listing real estate, translate into real value for the client by removing unnecessary red tape,” he suggests.</p>
<p><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/2018/1/23/David.jpg" alt=""><br>Lincoln McCarthy has achieved results across the Northern Beaches setting multiple block, street and suburb records.</p>
<p>“We believe the uniqueness of The Agency offering is locked into its own motto, ‘people sell houses not companies or brands’, linking agent and client by creating a platform that is not an obstruction,” David Rothschild says.</p>
<p class="TheAgencyBody"><strong> </strong></p>
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David Rothschild joins The Agency

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<div class="cq-article-content-paras section">
<p>Sydney has 600,000 bedrooms not being used according to data compiled by EY from 2016 Census estimates.</p>
<p>Unlocking the additional capacity within 30 minutes of the Sydney CBD could boost New South Wales’ GDP by $750 million annually, it suggests.</p>
<div>The greatest numbers of unused bedrooms are North Sydney/Hornsby, Outer West/Blue Mountains and the Inner South West.</div>
<div class="cq-article-content-paras section">
<p>The Eastern Suburbs, the Inner West, the Inner South West and Parramatta have a high number of available rooms that could meet accommodation needs between one and five times over.</p>
<p>The most acute shortage – where the number of surplus bedrooms is insufficient to meet demand – is in the City/Inner South.</p>
</div>
<p>The number of spare bedrooms equates to 190,000 unused dwellings, EY said in its report <em>Sydney housing conversations: moving from affordability to accessibility.</em></p>
<p>The EY Sydney managing partner Andrew Price suggested better questions needed to be asked about solving affordability problems in housing.</p>
<div class="page" title="Page 8">
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<p><span>"There is a need for an </span><span>additional 135,000 bedrooms in the greater Sydney area, with the biggest demand in the belt stretching from the CBD to Parramatta; to comfortably house all residents in Parramatta an additional 22,000 rooms are required, while </span><span>for the Inner South West this gure rises to 25,000. </span></p>
<p><span>"While the largest untapped supply is in the outer ring and northern suburbs, there are nevertheless plenty of rooms in the population belt described: 40,000 in Parramatta, 60,000 in the Inner South West and 16,000 in the CBD/ Inner South." </span></p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2018/1/23/PAGE%207%20BEDROOM.jpg" target="_blank">to enlarge.</a></p>
<p><span><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/2018/1/23/PAGE%207%20BEDROOM.jpg" alt=""></span></p>
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</div>
<p>He suggests the existing underutilised supply of housing stock could hypothetically meet the forecast demand for new stock for the next five years. </p>
<p>It estimated if all unused bedrooms within 30 minutes of Sydney's CBD were to house a working adult, that the boost to productivity would equate to an additional $750 million injected each year into the NSW economy.</p>
</div>
<div class="cq-article-content-paras section">
<p>The report noted Sydney actually had an estimated 1.5 million unused bedrooms spread across 900,000 dwellings, but for the purpose of EY's analysis under-utilised properties are defined as those properties which had two or more vacant bedrooms on census night in 2016 because a single vacant bedroom is often used for other purposes.</p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2018/1/23/PAGE%208%20BEDROOM.jpg" target="_blank">to enlarge.</a></p>
<p><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/2018/1/23/PAGE%208%20BEDROOM.jpg" alt=""></p>
<p>"Of course in reality, the housing problem is not just about bedrooms," Price acknowledges.</p>
<p>"Households want to live in a self-contained way, and not share utilities such as kitchens and bathrooms.</p>
<p>"However if a small number of households with spare room capacity were prepared to move to more appropriate sized accommodation, this could make a signifcant contribution to addressing the problem.</p>
<p>"A redistribution of housing stock that saw surplus bedroom capacity in key hotspots utilised more fully would go a long way to easing housing pressures," he says.</p>
<p>Sydney vacancy rates have hit a four year high.</p>
<p> </p>
</div>
<div class="cq-article-content-media section"> </div>
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Using Sydney's 600,000 vacant bedrooms could boost productivity: EY

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<p>Real Estate Institute of NSW figures showed residential vacancies rose to their highest level in four years in Sydney.</p>
<p>The residential vacancy rate in greater Sydney picked up to 2.2 per cent in December from 2.1 per cent in November.</p>
<p>The increase came from the middle and outer-ring suburbs.</p>
<p>The normally slow holiday period tally took it to a level it last seen in July 2013.</p>
<p>Sydney's vacancy rate was higher in September 2012, when it was 2.5 per cent, REINSW figures showed.</p>
<p>The December 2017 REINSW Vacancy Rate Survey saw availability in the Sydney metropolitan area up 0.1 percentage points at 2.2 per cent. </p>
<p>During 2017 there was a slight decline in rental availability in Sydney which bottomed out in March and April before rising again as the year progressed to see supply meeting demand. </p>
<p>Vacancy rates in Inner Sydney were down 0.1 percentage points in December at 2.0 per cent, while Outer Sydney rose 0.2 percentage points at 2.3 per cent and Middle Sydney was up 0.4 percentage points at 2.6 per cent. </p>
<p>The Hunter fell 0.3 percentage points at 1.7 per cent with Newcastle down 0.6 percentage points at 1.7 per cent, while in the Illawarra, vacancy rates fell 0.1 percentage points to 1.7 per cent. Wollongong was up 0.1 percentage points at 1.7 per cent. </p>
<p>Across regional areas, Albury fell 0.7 percentage points at 2.3 per cent, Coffs Harbour was down 0.2 percentage points at 1.8 per cent, Northern Rivers rose 0.1 percentage points at 0.9 per cent and New England added 0.2 percentage points to 2.5 per cent.</p>
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Sydney vacancy rates edge to four year high

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<p>Fairfax Media should turn to the former REA Group head Greg Ellis, investors have suggested.</p>
<p>It follows the shock resignation of Domain Group Australia chief executive Antony Catalano.</p>
<p>Catalano sent shares in both companies plunging on Monday when he resigned, citing family pressures, just two months after Domain floated on the ASX on a separate share market listing from Fairfax, its parent company and majority shareholder.</p>
<div class="cq-article-content-paras section">
<p>Patrick Potts, an investment analyst at Martin Currie, which owns more than 5 per cent of Fairfax, indicated they would be happy if the international search settled on Greg Ellis, who as chief executive of REA Group from 2008 to 2014 helped create the leading property website company.</p>
</div>
<p>The Melbourne-based Catalano, who decided the Sydney workload was too great given he<span style="color: #333333;"> has eight children, will have to forgo 4.2 million options issued less than two weeks ago and won't receive a termination payment.</span></p>
<p><span style="color: #333333;"><span>As Domain's largest individual investor, his resignation cut the value of his own stake by 17 per cent to $7 million. Fairfax shares fell 8 per cent on the news to 66¢ with <span>chairman Nick Falloon to step in and run Domain until a new CEO is appointed.</span><br></span></span></p>
<p><span>Ellis, who owns a Balwyn home, might not be available because of his current contract with Scout24, a large German real estate and car web sales business he runs.</span></p>
<p><span><span>It is a Frankfurt Stock Exchange-listed online classifieds business.</span></span></p>
<p><span><span>And this morning <span>a spokesman for the company told Fairfax from Berlin that <span>"Greg Ellis is fully committed to Scout24." </span></span></span></span></p>
<p><span><span><span>"Irrespective of this he will contribute his expertise to the further development of the Domain Group in his role as a member of their supervisory board."</span></span></span></p>
<p> </p>
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Greg Ellis suggested as Antony Catalano's Domain replacement

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<div>
<span id="x_gmail-m_5399368607563286463gmail-docs-internal-guid-72d47209-1c3c-2164-d49e-f5cd5e6cebe9">Tony Fountain, one of the Ray White Group legends, has died </span>aged 72.</div>
<div> </div>
<div>The veteran estate agent began his Ray White career in the fledgling business in New South Wales in 1988. </div>
<div> </div>
<div>"He was relentless," recalled Ray White co-chairman, Brian White today.</div>
<div> </div>
<div>It was in recent years he moved to Bowral where is suffered a stroke on the weekend.</div>
<div> </div>
<div>His most recent sale was the Kangaloon property, Summerside.<a href="https://www.realestate.com.au/sold/property-acreage+semi-rural-nsw-kangaloon-127070614" target="_blank"></a>
</div>
<div class="x_gmail_default">
<p dir="ltr">"I am pleased to announce that our NSW Awards program will now include the Tony Fountain Auction Award," Brian White said.</p>
<p dir="ltr">"It will be a fitting reminder to all our members of the crucial role Tony played in the continuing development of our national expansion." </p>
<p dir="ltr">Tony is survived by his long-term partner Sam Hudson and his step-daughter Emily, plus his daughter Kylie Fountain and husband Kevin Hall, son Jason Fountain and wife Paula and son Kurt Fountain and his wife Josie and grand-daughters Charlotte and Sybella.</p>
<p dir="ltr"><span><span style="color: #000000; font-family: georgia, serif;"> </span></span></p>
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Ray White auctioneer extraordinaire Tony Fountain dies

<p>Sydney developer&nbsp;<a href="https://www.apartments.com.au/developers/central-element">Central Element</a>&nbsp;is doubling down in Drummoyne, lodging plans for a boutique apartment development on St Georges Crescent, only one-kilometre down the road from its first Drummoyne development, Bianca.</p>

<p>The new project at 15A-21 St Georges Crescent,&nbsp;a&nbsp;1,701sqm north-facing site overlooking Iron Cove, will have 45 apartmnts across 10 levels. Eight of the units will be dedicated to affordable housing.</p>

<p>The site sits within walking distance of Drummoyne Village, Birkenhead Point, ferry services and the Bay Run, and offers harbour views towards the Sydney Harbour Bridge and CBD skyline.</p>

<p>Designed by MHN Design Union, the development will deliver a mix of one, two and three-bedroom apartments, alongside resident amenity including a gym, landscaped communal open space and three levels of basement parking.</p>

<p>The project has been lodged under the NSW Government's Low and Mid-Rise Housing reforms, with Drummoyne Village identified as a town centre capable of accommodating additional housing supply.</p>

<p>Central Element acquired the site earlier this year as part of its continued expansion across Sydney's eastern suburbs, lower north shore and inner west.</p>

<p>The developer's current pipeline includes luxury apartment projects Pearl Bondi and a separate development on Lamrock Avenue in Bondi, a residential project in Barry Street, Neutral Bay, and a mixed-use seniors living community in Greenwich.</p>

<p>Central Element Managing Director Nathan Chivas said the project would address a shortage of new owner-occupier housing opportunities in Drummoyne.</p>

<p>"While we're seeing a significant shift across Canada Bay as major infrastructure investment, population growth and planning reform drive a new chapter for the region, in suburbs like Drummoyne there remains a genuine shortage of new boutique luxury housing opportunities for owner occupiers," Chivas said.</p>

<p>"Sites of this nature are increasingly difficult to secure, particularly those that combine a north-facing aspect with direct water outlook. Our St Georges Crescent project responds directly to the market demand, offering a level of exclusivity, outlook and lifestyle in the highly sought after suburb."</p>

<p>The development application has been lodged with the City of Canada Bay Council, with the project expected to launch to market in early 2027.</p>

<p>&nbsp;</p>


Joel Robinson

Central Element seeks second Drummoyne apartment development

<p>The NSW Government has unveiled plans that could deliver around 1,300 new homes across Nowra and Kiama, continuing its push to unlock housing in well-located regional centres along the South Coast.</p>

<p>The proposals, now on public exhibition, would pave the way for around 830 homes in Nowra and a further 450 homes in Kiama, while also introducing affordable housing requirements and increased building heights in key locations.</p>

<p>The larger of the two proposals is centred on Nowra, where the NSW Government is seeking to rezone land within the Mandalay and Riverfront precincts.</p>

<p>The Mandalay sub-precinct, located close to Shoalhaven Memorial Hospital, Nowra Library and the city's aquatic centre, could accommodate around 530 new homes. Around 30 per cent of housing delivered on Homes NSW-owned land would be dedicated to social and affordable housing, equating to roughly 100 homes. Building heights would increase from the current two-storey limit to between three and six storeys.</p>

<p>A separate rezoning proposal for the Nowra Riverfront Precinct would unlock a further 377 homes while creating stronger connections between the Shoalhaven River and the CBD. The plans include building heights ranging from five to 12 storeys, floor space ratios of up to 2:1 and a requirement for two per cent affordable housing.</p>

<p>Together, the two proposals would deliver more than 900 homes across the broader Nowra area, reinforcing the city's role as one of regional NSW's key growth centres.</p>

<p>The housing push builds on previous infrastructure commitments in the Shoalhaven, including government funding aimed at supporting thousands of future homes in West Nowra through upgrades to water and wastewater infrastructure.</p>

<p>Further north, the NSW Government is also progressing plans for the former Kiama Depot site, a two-hectare parcel near Kiama's town centre.</p>

<p>The rezoning proposal would transform the former industrial site into a residential community capable of delivering up to 450 homes. Buildings would range between six and eight storeys, with at least 10 per cent of homes allocated as affordable housing. The proposal also includes approximately 600 parking spaces and improved walking and cycling connections.</p>

<p>Planning Minister Paul Scully said the proposals are designed to increase housing supply in locations close to jobs, transport and services.</p>

<p>"For too long, families have struggled to find somewhere to live, and activating underutilised sites allows us to deliver the new homes these families need," Scully said.</p>

<p>"The Minns Labor Government is getting on with the job of unlocking well-located sites close to transport, jobs, and town centres and building the homes our communities need.</p>

<p>"These rezonings are about removing barriers to housing delivery and making sure land is put to better use so more people can find a place to call home within the communities they choose."</p>

<p>The latest rezonings form part of the Minns Government's broader strategy to accelerate housing delivery across NSW, particularly in established centres where existing infrastructure can support additional population growth.</p>

<p>Community consultation on the proposals is now underway, with feedback set to inform the final planning controls before the rezonings are determined.</p>


Around 1,300 new homes earmarked for Nowra and Kiama as NSW Government pushes housing supply

<p><a href="https://www.apartments.com.au/developers/mrcb">MRCB International</a> has commenced construction on its latest Gold Coast apartment development, Maris, on the site of the former Sundale Motel in Southport.</p>

<p>The start of construction by <a href="https://www.apartments.com.au/builders/binah-constructions">Binah</a> follows an exceptionally strong sales campaign, with more than 90 per cent of apartments sold since launch. Every purchaser has been local, an&nbsp;indicator of confidence in both the development and Southport's evolution into a thriving CBD.</p>

<p><a href="https://www.apartments.com.au/new-apartments/maris-southport-20-queen-street-southport-qld-4215">Maris</a> will deliver 192 residences across 20 levels. The project forms part of MRCB's Australian and New Zealand development pipeline now exceeding $1.6 billion in gross development value, alongside a growing portfolio of projects globally.</p>

<p>[smartcode_project:default project_id=134403 project_image_fid=350663]</p>

<p>The company also commenced construction on its $600 million 26 Vista residences in Surfers Paradise last year, following strong sales momentum, with over 70 per cent of residences sold.</p>

<p>Maris has been designed to meet evolving buyer demand, offering architecturally designed layouts suited to long-term liveability. The approach reflects a growing preference for quality and adaptability among Gold Coast buyers.</p>

<p>Positioned next to the Broadwater in the <a href="https://www.apartments.com.au/developments/southport-qld-4215">Southport</a> CBD, Maris sits directly opposite the Broadwater Parklands light rail station and within easy reach of retail, dining and lifestyle precincts, placing residents at the centre of one of the Gold Coast's most connected and rapidly maturing urban centres.</p>

<p>[smartcode_project:default project_id=134403 project_image_fid=372756]</p>

<p>Maris will offer a full suite of resort-style residential amenities, including a pool, gym and sauna, along with a rooftop level featuring decks, lounges and dining and yoga areas that command sweeping views across the Broadwater and out to the ocean.</p>

<p>Binah, a New South Wales headquartered company co-founded by Amen Zoabi and Khalil Hafza in 2008, has expressed its excitement at establishing its first partnership with MRCB.</p>

<p>Binah's Managing Director Khalil Hafza said partnering with MRCB on Maris is a significant moment for Binah.</p>

<p>"MRCB's financial strength and a track record that speaks for itself give this project a solid foundation, and this marks the beginning of what will be a long and successful relationship.</p>

<p>"With the right people, systems and partnerships behind it, Maris is set to become a significant addition to the Gold Coast's premium residential market."</p>

<p>[smartcode_project:default project_id=134403 project_image_fid=350664]</p>

<p>MRCB International CEO Ravi Krishnan said the project's progression to construction reflects both sustained demand and tightening conditions across the apartment sector, as well as MRCB's continued confidence in the Gold Coast market.</p>

<p>"Commencing construction at Maris is a significant step and reflects the depth of demand for quality apartments in well-connected urban locations," said Krishnan.</p>

<p>"Across Southeast Queensland, new apartment supply remains constrained, particularly in established precincts with infrastructure and amenity already in place. Projects like Maris are increasingly critical in meeting that demand, especially on the Gold Coast and in the city's CBD precinct."</p>

<p>[smartcode_project:default project_id=134403 project_image_fid=372761]</p>

<p>Krishnan said Southport's ongoing transformation, supported by infrastructure investment and long-term planning, was underpinning renewed buyer confidence.</p>

<p>"We're seeing a clear shift back towards well-located urban centres where infrastructure, connectivity and amenity are already established," said Mr Krishnan. "Southport is evolving into a more mature CBD environment, and that is being reflected in buyer behaviour."</p>

<p>Construction at Maris is anticipated to be completed in 2029.</p>

<p>[smartcode_project_cta:default project_id=134403]</p>


Construction commences on MRCB’s $200m Maris Residences in Southport

<p>Moonee Valley Park’s latest residential release <a href="https://www.apartments.com.au/new-apartments/the-eveline-at-moonee-valley-park-moonee-ponds-100-thomas-street-moonee-ponds-vic-3039">The Eveline</a>, has achieved a new benchmark for off-the-plan apartment sales in the suburb, with the sale of The Alexandra penthouse selling for $5,435,000.</p>

<p>Positioned on the top floor of a 16-level residential building, the three-bedroom, three and-a-half-bathroom penthouse features uninterrupted city skyline views across the future Valley racetrack.&nbsp;</p>

<p>The landmark sale comes as momentum at the precinct continues to build, with the Moonee Valley Racing Club progressing works on its new racetrack ahead of the 2027 Cox Plate. The transformative development will see MVRC reimagine the beloved Valley as a vibrant year-round entertainment and lifestyle destination.</p>

<p>Alongside a world-class racing experience, the historic precinct will be activated with events, hospitality and public green spaces designed to attract broader audiences, while breathing new life into one of Melbourne’s most iconic destinations.&nbsp;</p>

<p>[smartcode_project:default project_id=142519 project_image_fid=372786]</p>

<p>Development partners <a href="https://www.apartments.com.au/developers/hamton">Hamton Property Group</a> and Hostplus have delivered five residential stages over the past four years, the most recent in November 2025 with Trackside House and Stonepine House. The flourishing community is now home to almost 500 families.&nbsp;</p>

<p>The latest residential release, The Eveline, has recorded strong demand since launching publicly last July, securing more than $200 million in sales to date, satisfying its pre sales hurdle for construction to commence.&nbsp;</p>

<p>Hamton Founder and Executive Chairman, Paul Hameister OAM said, the sales&nbsp;team have been overwhelmed by demand for these unique homes in this unique project.</p>

<p>"Buyers continue to be predominantly hyperlocal and attracted by the 40 hectare botanic masterplan in Melbourne’s inner north west," Hameister said.</p>

<p>[smartcode_project:default project_id=142519 project_image_fid=372788]</p>

<p>Hamton’s Sales and Marketing Director Fergus Humphries said the team has achieved more than 70 sales over the past eight weeks, including the penthouse purchase by a local buyer.</p>

<p>"These results reinforce that, even in a challenging market, purchasers continue to be drawn to quality projects that offer more than just a home, they offer a lifestyle.”</p>

<p>Designed by Cera Stribley, the penthouse has been created with entertaining in mind, spanning close to 400 sqm of indoor and outdoor living space, including multiple terraces designed to capture sweeping views across Melbourne’s skyline, the new Valley racecourse and sunset views over Moonee Ponds.</p>

<p>Moonee Valley Park is one of Melbourne’s largest urban renewal projects, transforming the iconic racecourse site into a vibrant mixed-use neighbourhood integrating homes, parklands, retail, racing and community amenities.</p>

<p>[smartcode_project_cta:default project_id=142519]</p>


Moonee Valley Park penthouse sets suburb record as sales surge clears construction benchmark

<p>A company linked to one of Australia's largest privately owned cattle businesses has lodged plans for a new residential tower in <a href="https://www.apartments.com.au/developments/newstead-qld-4006">Newstead</a>, continuing the rapid transformation of one of Brisbane's most sought-after, inner-city precincts.</p>

<p>Bottletree Holdings, an entity associated with Stanbroke Managing Director Brendan Menegazzo, has submitted a development application for a 28-storey mixed-use tower at <a href="https://www.apartments.com.au/new-apartments/9-longland-street-newstead-qld-4006">9 Longland Street</a>, a site that made headlines last year when it changed hands in an off-market transaction that reportedly set a benchmark land rate for the suburb.</p>

<p>The proposal would replace an existing two-storey commercial building on the 1,510 sqm corner site with a Bureau Proberts-designed tower comprising 76 apartments, ground-floor retail, office space and a suite of resident wellness amenities.</p>

<p><img alt="9 Longland" data-entity-type="file" data-entity-uuid="c710a836-568e-4382-bc91-3c34b8e80a8b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.41.45%E2%80%AFAM.png?VersionId=Vy.mQWBc7GA_a.vIBdxKqRC9XGjWalo2" /></p>

<p>According to planning documents lodged with Brisbane City Council, the development would comprise a mix of 36 two-bedroom apartments, 24 three-bedroom apartments and 16 four-bedroom residences, positioning the project firmly at the premium end of the market. The apartments would sit above a podium containing retail and commercial space, with three levels of communal recreation facilities spread throughout the tower. The proposal also includes 198 car spaces and 95 bicycle spaces.</p>

<p>Bureau Proberts has drawn heavily on Newstead's industrial heritage in developing the architectural response.</p>

<p>"Occupying a prominent corner in the heart of Newstead, the proposal draws from the area's industrial lineage of robust brick warehouses to deliver a distinctly contemporary response," the architects said in the design statement.</p>

<p>"It is conceived as a subtropical sanctuary and elevated private retreat embedded within one of Brisbane's most vibrant lifestyle precincts."</p>

<p>The design seeks to reinterpret the traditional Queensland vernacular through wraparound verandahs, deep shading elements and permeable facades that respond to Brisbane's subtropical climate.</p>

<p><img alt="9 Longland" data-entity-type="file" data-entity-uuid="25524f59-395c-4825-8fad-9b639822fa8a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.42.09%E2%80%AFAM.png?VersionId=dlWlbpCc_g3Y6yTLGqRVKvGJvO2ubMJ3" /></p>

<p>Planning documents describe the building as embodying the principles of "buildings that breathe", a design approach increasingly favoured in Brisbane's apartment market as developers focus on natural ventilation and outdoor living spaces.</p>

<p>The tower itself would rise above a heavily landscaped podium designed to reference the woolstore architecture that helped define Newstead and neighbouring Teneriffe for generations. At ground level, fine-grain retail tenancies would activate Longland Street, Wyandra Street and the existing Wyatt Street laneway, further extending the pedestrian network that has become a hallmark of the Gasworks precinct.</p>

<p>The application notes that more than 54 per cent of the site would be dedicated to landscaping and deep planting, while approximately 1,750 sqm of communal recreation space would be delivered across multiple levels.</p>

<p><img alt="Planning" data-entity-type="file" data-entity-uuid="fed3b189-1054-4b68-af5f-b0befc4a66e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.42.19%E2%80%AFAM.png?VersionId=gqeE3cjsbnLAfeTUKA1HtPZfqDs6S4Xa" /></p>

<p>Bottletree paid $22 million for the 1,510 sqm development site, equating to more than $14,500 per sqm, a reflection of the strong demand for development opportunities in Newstead. The suburb continues to attract both developers and buyers, underpinned by the ongoing evolution of the Gasworks and Teneriffe precincts into some of Brisbane's most sought-after lifestyle destinations.</p>

<p>Brisbane City Council's Sustainable Growth Strategy and Inner City Strategy both identify Newstead as a priority growth precinct capable of accommodating additional housing density due to its proximity to employment hubs, public transport and lifestyle infrastructure.</p>

<p>The proposed tower joins a growing pipeline of high-end apartment developments in the suburb. Fortis recently launched <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a>, a 65-apartment owner-occupier-focused development on Kyabra Street, while Consolidated Properties Group is preparing to launch <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a 227-apartment waterfront project on Skyring Terrace.</p>

<p>Meanwhile, builder-developer BPG is planning its own Newstead project on Maud Street, comprising just over 100 apartments and more than 1,380 sqm of dedicated wellness and resident amenity spaces, further highlighting the shift towards lifestyle-driven apartment developments in Brisbane's inner-city market.</p>


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