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The chief executive of online real estate advertising company Domain has suddenly quit just two months after it listed separately on the share market. 
Domain was spun off from Fairfax Media and commenced trading on the ASX last November.
He has worked for Fairfax and Domain on and off for 26 years.
The company's chairman Nick Falloon is stepping in as executive chairman, as a search for a new CEO immediately commences.
Falloon said Catalano had informed the board over the Christmas break that the demands of his role and his absence from the lives of his family were more challenging than he had expected.
"It's not fair on the family," he said adding that he was grateful for the opportunities at Domain.
In a statement, the Melbourne-based father of eight who owns property in St Kilda West, Caulfield North and Byron Bay, advised family reasons for the exit. 
"When I re-joined Fairfax in November 2013, I made a commitment to my young family that I could be there for them and do the job," he said in a statement.
"It has become clear to me that doing the job of a listed company CEO the way it needs to be done means that I am not meeting that family commitment."
"It was also become apparent that I needed to relocate to Sydney and that was something I wouldn’t ask my family to do because schooling and family requirements would see young family members living in different cities.
"As it stands, I have been away from home for the bulk of each week and it’s not fair on the family.”
He noted the timing of the resignation, but said he was confident Domain’s team could keep the company on its current trajectory.
“I understand and regret that the timing of this decision is unusually short from Domain’s listing. But having been in the role for four years, I resign knowing that Domain has a great management team in place and I have every confidence in them and the business continuing on its current stunning trajectory.
In a statement to shocked staff, Fairfax chief executive Greg Hywood advised that it was "business as usual for Domain".
At 10:30am, Domain shares were 11 per cent lower at $2.93. The stock is now down 22 percent from its $3.80 listing price in November 2017.
Domain will report its first-half financial results on 19 February. 
In the announcement to the ASX today, the company said based on preliminary unaudited pro-forma results, it was expected to report digital revenue growth of 22% against the same period last year and revenue growth of 13%. 
As a top 20 Fairfax shareholder, Catalano owns 0.32 per cent of the company’s stock, according to Bloomberg. 
Fairfax Media kept a 60 per cent stake.
 
 
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j.ballantyne1990-6AQqhLzZaK

Melbournite Antony Catalano's shock departure from Domain as family demands 

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ANZ has increased on its one to five year fixed rates and for fixed owner occupier and investment loans of up to 34 basis points.
Mortgage brokers were advised ANZ was raising fixed rate interest rate deals across its popular Breakfree home loan deals.
On a three-year owner occupier principal and interest fixed-rate deal the rate will jump by 10 basis points from 3.99 per cent to 4.09 per cent.
This is on the popular Breakfree product which is among the bank’s most popular home loans.
Mozo found this will result in repayments on a $300,000 30-year home loan rising by $17 per month, from $1431 to $1448.
While on a three-year investment interest-only fixed-rate deal on a Breakfree loan the rate will also lift by 20 basis points from 4.69 per cent to 4.89 per cent.
Mozo data shows on the same loan size repayments will increase by $50 per month from $1173 to $1223.
This time last year Mozo noted ANZ lifted two year rates by 23 basis points to 3.98% and pumped three year rates up 34bp to 4.19%.
 
 
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ANZ raises fixed rates in early 2018 move

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The online mortgage broker Lendi has completed its latest round of capital raising. 
The AFR's Street Talk column wrote Lendi recently ruled off a $25 million capital raise.
It was oversubscribed with support from some existing shareholders, sophisticated investors and a number of blue-chip Australian institutions.
The company is seeking to take more than its current one per cent last year of the market. 
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Lendi is 40 per cent owned by founders and employees, having been founded by David Hyman, Sebastian Watkins, Martin Lam and Mark Kalajzich.
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Its shareholders include Bailador and Macquarie Group.
The company initially raised $3.1 million from high net worth investors to scale the business nationally.
In 2014 its secured a further $6 million.
It now has 200 team members across four offices.
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Lendi complete another round of capital raising 

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The Perth-based sandalwood company Quintis has collapsed, with KordaMentha now in administration, following Friday’s decision by a US fund manager to exercise an option demanding Quintis buy back $37 million of sandalwood plantations.
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“The company does not have the financial resources available to it to pay the put option price and the directors have therefore resolved to appoint Richard Tucker, Scott Langdon and John Bumbak of KordaMentha as voluntary administrators of Quintis and its Australian subsidiaries,” Quintis said in a statement.
“We are very disappointed with this outcome given the huge efforts made over the last nine months to recapitalise the company in order to deliver its sustainable future,” Quintis chairman Dalton Gooding said.
It is understood noteholders with $US250 million invested in Quintis intend to appoint receivers and managers from McGrathNicol, over the administrators to protect their interests.
Quintis owns more than 3000 hectares of Indian sandalwood plantations across Australia’s north and manages a further 2000ha on behalf of other investors and growers.
The collapse of the high-flier, which had previously used former cricketer Adam Gilchist and F1 star Daniel Ricciardo to promote its business, follows failed hopes for a recapitalisation or buyout needed to survive.
The former cricketing great Gilchrist and F1 racing ace Daniel Ricciardo proudly announcing themselves as Quintis ambassadors in early 2016. 
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The pair met in 2015 through listed sandalwood producer TFS Corporation, which was rebranded Quintis, which Gilchrist sat on the board of until 2014. 
In December 2016, Quintis shares topped $1.70, valuing the group at nearly $700 million. Its shares last traded at 29.5¢.
Its former managing director Frank Wilson has been critical of Quintis’ financial performance since he left to pursue a buyout in March last year.
The local paper reported on the weekend Wilson was involved in an angry clash with a company executive at a western suburbs shopping centre last year.
Wilson alleged Quintis reacted to the confrontation by delaying site tours organised for Wilson as part of the due diligence associated with his proposed buyout of the company, citing its duty of care to employees.
Timbercorp, a MIS that had 18,500 investors invest into $2bn worth of tax effective timber projects over 17 years, was an earlier collapse in 2009.
Investors were advised that a TFS investment of $9,405 got 35 trees, that equates to 700kg of heartwood which could sell for $135 per kg giving $94,500, reflecting an internal rate of return of 15%, but then paying $605 per lot per annum with an expected year of harvest 2032 (15 years). 
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Daniel Ricciardo-promoted Quintis sandalwood company collapses  

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Brighton had its first beach box auction of the year yesterday when the baby-blue and white Bathing Box 26 had $340,000 hopes.
The listing came soon after No. 60 (above and below) fetched $340,000 late last year. 
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<img class="size-full wp-image-271124" src="https://www.realestate.com.au/blog/wp-content/uploads/2018/01/17062956/capi_c0fbd3f94476ce98c5399216f4f98a05_e0225b3bf21b2c66a0ab95d02aae59c9.jpeg" alt="Bathing box 60, Brighton - For Leader RE" data-capiid="e0225b3bf21b2c66a0ab95d02aae59c9"><a href="https://www.realestate.com.au/property-residential+land-vic-brighton-202001978" target="_blank">But JP Dixon</a> passed the offering in at $285,000 this morning, and by late afternoon The Herald Sun reported it had been sold post-auction at $300,000.
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Buyers must live in the City of Bayside to be eligible to purchase one of the 80 or so Brighton’s bathing boxes.
No. 60 had come with a price guide of $270,000 to $297,000 late last year, and sold before its December 2 scheduled auction through Marshall White.
It topped the previous record, set in 2016 when a newly-built hut sold for $326,000.
 
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Record hopes sunk as Brighton bathing box sale kicks off 2018 Melbourne auctions

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Australia is set to ride the global growth wave.
 We forecast above-trend (and above-consensus) growth of 3.2% in 2018.
An improving business sector and tightening labour market should lift wages growth, supporting household spending.
We expect the RBA to start lifting its cash rate around mid- 2018 and see the AUD rising to US84 cents in 2018.
Hangin’ ten on a global wave 
A wave of global growth is gaining momentum and should support Australia’s economy in a number of ways. First, commodity prices have lifted, boosting national incomes, corporate profitability, and tax revenues. Second, rising global demand is supporting demand for exports of energy commodities, high-quality food products, and tourism and education. Finally, the lift in global optimism is supporting a pick-up in business conditions, driving rising local investment and hiring. 
We expect GDP growth to pick up from 2.4% in 2017 to 3.2% in 2018 (consensus is 2.8%). This outlook is underpinned by HSBC’s above-consensus China growth forecast (6.7% versus 6.4%) and our view that the lift in local business conditions will continue to support hiring, which, as it tightens the labour market, should drive a pick-up in wage growth. The lift in wage and jobs growth is expected to support stronger growth in household incomes, consumer spending, and tax revenues. 
Although Australia’s housing construction boom is coming to its end, we expect the drag to be more than offset by a stabilisation in mining investment (after significant declines in previous years), a pick-up in investment in urban infrastructure, and by rising business investment. Overall, investment is set to rise solidly in 2018. 
We see house price growth slowing in 2018, after a five-year boom. However, we do not expect significant price falls, as the market is supported by strong population growth, some expected loosening of prudential settings, and mortgage rates that are still historically low (despite our view that they will edge higher in 2018). 
The clearest signs of improvement in the economy are in the labour market. Jobs growth has been strong and the timely indicators suggest continued solid momentum. We expect the unemployment rate to fall to a ‘full employment’ level in 2018, supporting a pick-up in wages growth. We also expect growth in 2018 to be the most broad-based across regions and industries in more than a decade, which should see increased demand for skills across a wide range of areas, supporting wages growth. 
We expect the RBA to lift its cash rate in 2018, with a first hike pencilled in for Q2. With hikes expected, we see the AUD rising to US84 cents in 2018. 
<a href="https://www.about.hsbc.com.au/hsbc-in-australia/management-team" target="_blank">PAUL BLOXHAM</a> IS CHIEF ECONOMIST (AUSTRALIA AND NEW ZEALAND) FOR HSBC.  
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Australia in 2018 : Surfs up! Cash rate too! Riding the global growth wave

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Over the 12 months to June 2017, 3,861 dwellings were sold after having been held for less than a year nationally with a further 16,749 resold after being owned for between one and two years, according to CoreLogic.
These figures represented 1.3% and 5.7% of all resold property sales over the year. 
Flipping remains a small proportion of the overall housing market however, flips between one and two years have been trending higher over recent times. 
In its heyday in the early 2000s, 4.4% of all properties were flipped in less than 12 months and 16% were flipped between 12 and 24 months from previous purchase. 
What is surprising is that the introduction of the capital gains tax discount for investors that held properties for more than 12 months in 1999, made little difference to flipping behaviour.
Click here <a href="https://www.propertyobserver.com.au/images/2018/1/19/flipping-by-state.jpg" target="_blank">to enlarge.</a>
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In fact, the incidence of flipping didn’t rise substantially until the national housing market boomed between 2001 and 2004. 
Focusing solely on those properties which are ipped, the data shows that most of these properties are selling for a gross profit. 
Over the 12 months to June 2017, 10.9% of flips held for less than 12 months were at a loss and 10.1% of flips held for between 12 and 24 months resold for a loss. 
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Although the proportion of flips at a loss has declined from recent highs in 2009 and again in 2012, there has been a clear increase in loss-making flips recently. 
The rising number of loss making flips highlights there is some financial risk in flipping, keeping in mind that the proportion of loss making flips on a net basis is likely to be substantially higher once expenses are taken into account.
Across the major regions of the country, flipping was more prevalent in Sydney, Melbourne and Regional QLD.
Darwin was the weakest capital city for prices in 2017.
Its resale losses have also been a problem in recent years.
The propensity to flip in Sydney and Melbourne is likely due to the strong run-up in values over recent years whereas regional QLD is probably seeing greater propensity to flip as people struggle to meet mortgage repayments as unemployment has risen and dwelling values have fallen.
Vendors in Perth, Hobart, Darwin, regional QLD, regional SA, regional WA, regional TAS and regional NT were the most likely to ip their properties for a loss. 
In most of these regions value growth has been sluggish for a number of years which makes flipping for a profit much more difficult. 
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Loss-making property flips on the rise, especially in Darwin: CoreLogic

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With “schoolies” celebrations now over and New Year’s, spare a thought for the challenges faced by children and young people growing up in popular tourism hot spots.
Let’s take the beautiful northern New South Wales coastal town of Byron Bay as an example. At the end of each year, young school leavers flood Byron Bay in pursuit of a rite of passage experience that many of their parents would prefer not to know about.
But there is another story here that is often overlooked. How do young residents of these places negotiate the challenges of growing up in a community widely acclaimed as a “party” destination? And how do the very public narratives portrayed in the media shape the experiences of young people growing up in a place like Byron Bay?
My recent <a href="https://epubs.scu.edu.au/theses/542/" target="_blank">doctoral research</a>, in which I interviewed 74 young people in Byron shire aged between 10 and 24, sheds light on young residents’ views and experiences.
It is estimated that an annual average of 1.7 million tourists <a href="https://www.tra.gov.au/research/regional-tourism/local-government-area-profiles/local-government-area-profiles" target="_blank">visit Byron Shire</a>, with 704,000 being domestic overnight visitors. While the party reputation of Byron Bay and its popularity with young backpackers and schoolies is now a given, there is little consideration about the impact of this on <a href="http://www.censusdata.abs.gov.au/census_services/getproduct/census/2016/quickstat/LGA11350?opendocument" target="_blank">the 2800</a> young people who <a href="https://www.researchgate.net/publication/317281509_Growing_up_in_a_tourist_destination_negotiating_space_identity_and_belonging" target="_blank">live there</a>. Some of the issues and concerns raised in this research include safety, belonging and the environment.
<h2>Safety</h2>
The biggest concern raised by young residents is the perceived lack of safety that they often feel at times like schoolies and New Year’s Eve. The “demonstration effect” of alcohol and drug consumption, which is sensationalised in <a href="https://www.dailytelegraph.com.au/news/nsw/schoolies-2017-hits-byron-bay-and-prompts-enormous-police-presence/news-story/672d3ea70d68bb0c357cd42de60fd7ff" target="_blank">the media</a>, has widespread implications.
Children and young people growing up in these communities are witnessing a holiday lifestyle on a regular basis, including the party frenzy and alcohol and drug-fuelled behaviours that are on display at times like schoolies.
This is confusing: they see people having fun all the time, but don’t consider that these same tourists go home to a seemingly normal life after the holiday. This may have important implications for their wellbeing in the long term, particularly when they are drawn to join the celebrations.
Isabella, 15, said:
<blockquote>
I don’t feel safe due to intoxicated people. I know that because of the reputation that it’s a party town, I’m not allowed to come to Byron at night, which I don’t want to because there are just too many people that are passing through.
</blockquote>
<h2>Belonging</h2>
The other concern raised by young people in Byron Shire is the shrinking sense of community as more and more places become overcrowded and commercialised. Young people’s sense of belonging is challenged at peak tourist times, when crowded spaces and unfamiliar faces contribute to feelings of alienation and displacement.
Many also worry about their future. Tammy, 24, said:
<blockquote>
It kind of scares me because it means that people can’t live here anymore as they can’t afford the rent and things like that! I suppose that’s just tourism, that’s how it works, it’s for the privileged.
</blockquote>
The rise of holiday-letting and AirBnb have also led to a lack of affordable housing in the area. As more and more families are forced <a href="https://www.echo.net.au/2017/06/holiday-letting-byron-councils-sights/" target="_blank">to move out of the region</a>, the social structure of the communities in the Byron Shire region is changing.
For young people still living in the area, usual neighbours are replaced by a continuous flow of visitors who book through platforms such as AirBnb. This only adds to feelings of anxiety and alienation.
<h2>The environment</h2>
Children and young people growing up in the region are also acutely aware of the impacts of tourism activity on the environment. Young people are concerned about the visible effects of tourism and the lack of respect that travellers, and in particular young school leavers, have for the environment.
Littering on the beaches, streets and parks in Byron Bay is a common problem at peak party times.
Young residents argue that these behaviours are frustrating. They actively take up stewardship of the natural environments in the community by participating in beach clean-ups and awareness campaigns to educate the visiting tourists. As 21-year-old Jack said:
<blockquote>
It’s disappointing to see people come to supposed paradise, the place where they’re expecting to be clean and beautiful and pristine, then they leave it in such a state. It’s just disrespectful.
</blockquote>
<img src="https://counter.theconversation.com/content/88315/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">Like other areas such as the Gold Coast, Byron Bay is a popular destination with young school leavers who consider it their “party town”. But let’s not forget that it is also the home of many young locals. More education and awareness is needed about these important issues which significantly shape young people’s lives.
<a href="https://theconversation.com/profiles/antonia-canosa-426625" target="_blank">Antonia Canosa</a>, Research Associate, Centre for Children and Young People, <a href="http://theconversation.com/institutions/southern-cross-university-1160" target="_blank">Southern Cross University</a>
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/your-party-our-home-the-challenges-of-growing-up-in-a-tourist-destination-88315" target="_blank">original article</a>.
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Our home, your party: the challenges of growing up in a tourist destination

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Wang Jianlin's Dalian Wanda Group has sold the One Nine Elms project on the south bank of London's River Thames.
Guangzhou R&amp;F Properties Co. is the buyer, according to Bloomberg and Reuters.
Bloomberg also report the imminent sale of its $1.2 billion Circular Quay, Sydney project and the $900 million Jewel complex on the Gold Coast.
Nine Elms is project billed as worth 700 million pounds on completion. It has planning approval for an apartment tower of about 56 stories and a five-star hotel.
Wanda paid 88.8 million pounds for the plot in 2013, a Land Registry filing shows.
Its sale adds to more than $9 billion worth of disposals over the past year as the real estate-to-entertainment group responds to government pressure to pare debt and focus overseas investments on assets considered strategically important to China.
The conglomerate, which has businesses that range from real estate to football and cinemas, had initially said it wanted to transfer ownership of some its overseas assets to its holding company as part of a restructuring, keeping them within the group. 
But the sale has instead gone to Guangzhou R&amp;F Properties, a firm that has purchase other Wanda property assets.
Wang’s Wanda Hotel Development Co. said in November that it was doing a strategic review of its projects stretching from Sydney to Chicago and would consider opportunities that create value for shareholders.
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Wang Jianlin's Dalian Wanda Group sells the One Nine Elms project  

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Hobart’s increasing population, boosted by inward interstate migration as the economy improves, was putting pressure on the rental market, independent economist Saul Eslake suggests.
The vice chancellor’s fellow at the University of Tasmania told Fairfax Media there was a lot more confidence in business.
"There is quite a lot of commercial construction and tourism is also doing well,” he said.
“We’ve had an increase in people wanting to live in Hobart … but on the supply side there hasn’t been a great deal in building approvals.”
Eslake said the biggest shortage was for apartments, which make up 8.6 per cent of dwellings in greater Hobart, according to the latest census data.
<div>Demand for rentals saw Hobart’s vacancy rate drop to a record low of 0.3 per cent by December, according to SQM Research, the tightest rental market of any capital city.</div>
The Domain Rental Report shows it also has the country’s highest rental yield for houses – at 5.34 per cent for the December quarter – and the third highest yield for apartments, at 5.52 per cent. 
Ten new townhouses - two bedrooms with 92 sqm space - <a href="https://www.realestate.com.au/property-unit-tas-brighton-127255922" target="_blank">are being constructed at Brighton</a> with prices from $215,000.
They have a suggested $270 a week rental prospect, according to Patrick Nosier at First National.
There are <a href="https://www.realestate.com.au/property-unit-tas-rokeby-127253906" target="_blank">three rendered 2010-built townhouse units</a> listed at $220,000 plus at Rokeby.
Aspect Building Solutions is building two luxury townhouses in the heart of Hobart.
Set over three floors, <a href="https://www.realestate.com.au/property-unit-tas-hobart-127173286" target="_blank">the units of 12 Warwick Street </a>are being marketed by Harcourts as "representing an unmatched level of sophistication, exclusivity and luxury."
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Hobart doesn't have the required new townhouse stock: Saul Eslake

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.

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.

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.

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.

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.

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.

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.

Central Element Managing Director Nathan Chivas said the project would address a shortage of new owner-occupier housing opportunities in Drummoyne.

"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.

"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."

The development application has been lodged with the City of Canada Bay Council, with the project expected to launch to market in early 2027.

&nbsp;

Joel Robinson

Central Element seeks second Drummoyne apartment development

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.

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.

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.

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.

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.

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.

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.

Further north, the NSW Government is also progressing plans for the former Kiama Depot site, a two-hectare parcel near Kiama's town centre.

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.

Planning Minister Paul Scully said the proposals are designed to increase housing supply in locations close to jobs, transport and services.

"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.

"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.

"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."

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.

Community consultation on the proposals is now underway, with feedback set to inform the final planning controls before the rezonings are determined.

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

<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.

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.

<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.

[smartcode_project:default project_id=134403 project_image_fid=350663]

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.

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.

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.

[smartcode_project:default project_id=134403 project_image_fid=372756]

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.

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.

Binah's Managing Director Khalil Hafza said partnering with MRCB on Maris is a significant moment for Binah.

"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.

"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."

[smartcode_project:default project_id=134403 project_image_fid=350664]

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.

"Commencing construction at Maris is a significant step and reflects the depth of demand for quality apartments in well-connected urban locations," said Krishnan.

"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."

[smartcode_project:default project_id=134403 project_image_fid=372761]

Krishnan said Southport's ongoing transformation, supported by infrastructure investment and long-term planning, was underpinning renewed buyer confidence.

"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."

Construction at Maris is anticipated to be completed in 2029.

[smartcode_project_cta:default project_id=134403]

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

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.

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;

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.

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;

[smartcode_project:default project_id=142519 project_image_fid=372786]

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;

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;

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.

"Buyers continue to be predominantly hyperlocal and attracted by the 40 hectare botanic masterplan in Melbourne’s inner north west," Hameister said.

[smartcode_project:default project_id=142519 project_image_fid=372788]

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.

"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.”

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.

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.

[smartcode_project_cta:default project_id=142519]

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

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.

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.

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.

<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" />

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.

Bureau Proberts has drawn heavily on Newstead's industrial heritage in developing the architectural response.

"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.

"It is conceived as a subtropical sanctuary and elevated private retreat embedded within one of Brisbane's most vibrant lifestyle precincts."

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.

<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" />

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.

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.

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.

<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" />

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.

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.

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.

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.

Staff reporter

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