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Brisbane property developer Brendan Tutt is selling a beachfront Bribie land parcel.
"Positioned on arguably one of the best stretches of beach on the east coast is this large 3235sq m block of prime beachfront land consists of five individual lots of 647sq m each on separate titles to be sold in one line or individually," Mr Tutt said.
Ray White Ascot principal Dwight Ferguson said Bribie Island had a pristine landscape with the beautiful Pumicestone Passage on one side and kilometres of open surf beach on the eastern side with 4x4 vehicle access.
"This land offers a lifestyle second to none."
The land is selling through an expression of interest campaign closing Thursday May 18.
"It's a corner block with total land size 3235sq m total frontages of over 120m.
The site consists of 5 separate lots of 647m2 each with frontage of 16m," Mr Ferguson said.
"It would suit multiple uses for an apartment development or individual house lots zoned general residential under Moreton Bay planning scheme."
The land is at <a href="https://www.realestate.com.au/property-residential+land-qld-woorim-201785386" target="_blank">68 - 76 Rickman Parade, Woorim</a> (Bribie Island).
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j.ballantyne1990-6AQqhLzZaK

Rare land offering at Bribie Island

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The strongest locations on the NSW mid north coast for residential markets are generally the larger regional towns including Port Macquarie, Wauchope, Forster and Tuncurry, according to Herron Todd White’s latest report.
The property valuation firm says that pockets within the Port Macquarie region include established coastal areas as well as coastal villages immediately south such as Lake Cathie and Bonny Hills.
These areas are a mixture of older homes that have been either renovated or not and new homes either constructed or under construction (especially in the southern villages).
All of these areas are within close proximity of the beaches and local services.
HTW states investors can expect three bedroom homes to cost half a million dollars.
“Entry points for houses within these areas range from $500,000 for a standard 3-bedroom home to $750,000 for something that may have ocean or golf course views or is above average.
A three bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-port+macquarie-125197590" target="_blank">18 Newmarket Grove</a>, Port Macquarie (above) has been listed for $498,500.
Similarly a three bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-forster-125126470" target="_blank">5 Carawa Street</a>, Forster (below) has been listed for $510,000.
<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/2017/04/20/5%20Carawa%20Street.jpg" alt="">
This is well above prices in 2014 when the entry point would have been in the low $400,000 range.
Land sales within the new residential subdivisions on the outer fringes of Port Macquarie at Sovereign Hills and surrounding areas are being sold quickly with demand outstripping construction at present.
With the current fast paced rate of sale and no further large scale residential developments for release in the immediate future, land and house prices are expected to continue to increase.
This domino effect will also fuel demand and most likely increase land prices in other subdivisions in other regional towns as people look to these areas for more reasonable pricing,” the report advised.
HTW notes that unit sales are increasing, perhaps to allow investors or first home owners an opportunity to enter the market.
“The most keenly sought after properties are family friendly dwellings, either houses or large villas, either renovated or un-renovated in areas throughout the mid north coast.
However as house property prices increase we have noticed an increase in unit sales, allowing the investor or first home owner the opportunity of entering the market at the lower end,” the report stated.
HTW says that lack of stocks and low interest rates are the primary drivers of the market.
“Strong demand, lack of available stock for sale and low interest rates appear to be the major drivers of the local real estate market and are causing rising housing prices throughout most of the mid north coast,” the report stated.
Is it sustainable asks HTW.
“That is the key question at present.
As banks increase interest rates for investment property loans we may see a slight slowing in this sector.
However it is likely that owner-occupiers will take up any slack in demand, thus keeping the market moving.
Barring any major downturn in the overall economy, the continuing rising demand and increasing prices should allow the mid north coast market to remain strong over the coming months,” the report stated.
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North Coast residential market driven by low interest rates and lack of stock: HTW

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The Inner West has continued to defy expectations with the market going from strength to strength across all suburbs, according to Herron Todd White’s latest report.
The property valuation firm says that auction results continue to hover between 85% and 90% with the continued lack of stock now being the main driver.
"The strongest growth has been for houses in the $2 million to $4 million price bracket and although growth has slowed for units, the $1 million to $1.5 million price bracket has been the strongest.
The suburb of Rozelle has seen some of the strongest growth across the inner west with a 2016 median house price of $1.577 million, up 13.5% from 2015 (source: PriceFinder)," the report advised.
Rozelle has always been a highly sought after suburb and demand is driven by proximity to the CBD, excellent bus services and the café culture.
"Rozelle comprises a mixture of property styles, with period style homes traditionally in the highest demand.
As with many period style homes in the inner western suburbs, high quality renovations and well-designed extensions tend to achieve premium prices.
An example of this is <a href="https://www.realestate.com.au/sold/property-house-nsw-rozelle-124483558" target="_blank">202 Evans Street</a>, Rozelle (above) which sold on 10 February 2017 for $3 million.
This circa 1900s property is situated on a 251 square metre allotment and has been renovated and extended, comprising 4-bedroom, 2-bathroom accommodation with a single lock-up garage," the report stated.
The main demand for this price point in Rozelle is from the owner-occupier market rather than the investor, as owner-occupiers see greater opportunity with dated or dilapidated properties in need of renovation.
“Although we expect houses in Rozelle to see continued growth, we predict it to be more subdued than the previous three years,” the report stated.
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Sydney Inner West residential market continues to defy expectations: HTW

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A total of 18,074 residential houses and agricultural properties transacted across the regional areas of Queensland over the 12 months to November 2016, according to Landmark Harcourts’ latest Benchmark Report (<a href="https://content.landmarkharcourts.com.au/Content/Benchmark-Property-Data-Report" target="_blank">bit.ly/LHBenchmark</a>).
This represents a fall in sales volume when compared to the previous year, down -8.4% or 1,651 fewer transactions.
The 18,074 sales are made up of 16,454 residential properties and 1,620 agricultural properties and they account for $7.2 billion worth of sales over the last 12 months, down -8.1% from one year ago.
<a href="https://www.propertyobserver.com.au/images/2017/03/24/Screen%20Shot%202017-03-24%20at%201.55.01%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/03/24/Screen%20Shot%202017-03-24%20at%201.55.01%20pm.jpg" alt="">
Over the year to November 2016, 1,620 agricultural properties sold across regional Queensland.
Although sales volumes fell by -6.8% over the last 12 months, the total value of sales increased by 7.8% to $1.8 billion over the same period.
<a href="https://www.propertyobserver.com.au/images/2017/03/24/Screen%20Shot%202017-03-24%20at%201.55.17%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/03/24/Screen%20Shot%202017-03-24%20at%201.55.17%20pm.jpg" alt="">
The 1,620 agricultural properties accounted for just 9% of the total transactions across regional Queensland this year, and of these sales, 14.2% were on less than 40 hectares, 35.7% between 40 to 100 hectares.
35.6% were on lots between 100 to 1,000 hectares and 14.4% were on land greater than 1,000 hectares in size.
<a href="https://www.propertyobserver.com.au/images/2017/03/24/Screen%20Shot%202017-03-24%20at%201.55.29%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/03/24/Screen%20Shot%202017-03-24%20at%201.55.29%20pm.jpg" alt="">
Of the $1.8 billion worth of agricultural sales for the year ending November 2016, sales over 1,000 hectares accounted for 52.1% of the overall value of agricultural sales.
This is followed by properties on lots ranging from 100 to 1,000 hectares (26.9%), 40 to 100 hectares (15.2%) and less than 40 hectares (5.8%).
<a href="https://www.propertyobserver.com.au/images/2017/03/24/Screen%20Shot%202017-03-24%20at%201.55.42%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/03/24/Screen%20Shot%202017-03-24%20at%201.55.42%20pm.jpg" alt="">
A 40 acre rural property at <a href="https://www.realestate.com.au/property-other-qld-jones+hill-7876738" target="_blank">24 Macadamia Road</a>, Jones Hill (above) has been listed for over $800,000.
Similarly a 110 acre mixed farming property at <a href="https://www.realestate.com.au/property-mixed+farming-qld-theebine-7891118" target="_blank">572 Kanyan Road</a>, Theebine (below) has been listed for $750,000.
<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/2017/04/4/572%20Kanyan%20Road.jpg" alt="">
A 50 acre rural property at <a href="https://www.realestate.com.au/sold/property-other-qld-lower+beechmont-7859346" target="_blank">72 Freemans Road</a>, Lower Beechmont (below) was sold this March for $980,000.
<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/2017/04/4/72%20Freemans%20Road.jpg" alt="">
Similarly a 15 acre rural property at <a href="https://www.realestate.com.au/sold/property-lifestyle-qld-kureen-7832078" target="_blank">LS1286 117 Peeramon Road</a>, Kureen (below) was sold this March for $520,000.
<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/2017/04/4/LS1286%20117%20Peeramon%20Road.jpg" alt="">
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Queensland rural sales volume falls by 8%: Harcourts

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A South Melbourne development site has been listed for sale.
The property at <a href="https://www.commercialrealestate.com.au/property/5-7-park-street-south-melbourne-vic-3205-2013527890" target="_blank">5-7 Park Street</a> is set on a 409 sqm parcel in the heart of one of Melbourne’s most established suburbs with both commercial and residential development opportunities.
Offered through Colliers International, the commercial property comes with a development scheme for 43 large luxury apartments.
David Sia, Daniel Wolman and Hamish Burgess are marketing the property.
 
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South Melbourne development site listed for sale

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CBRE has been appointed to unload an office building in the northern end of Melbourne’s St Kilda Road business precinct.
Located on the corner of St Kilda Road and Kings Way, the 420 St Kilda Road property comprises a 10-level office building leased to major covenants, including ANZ bank and APP Corporation.
An International Expressions of Interest campaign will be launched next month to promote the asset, which boasts 10,500sqm of net lettable space, on behalf of CEL Australia.
Over the past 24 months, the St Kilda Road office market has emerged as an attractive investment market, recording one of the highest rates of net effective rent growth nationwide of over 9%.
Commenting on the listing, CBRE’s Kiran Pillai remarked that the property was well positioned to capitalise on the continued strong demand from tenants for this location.
“Steady withdrawals of secondary space in St Kilda Road for conversion and redevelopment has underpinned incredibly strong tenant demand for space in the remaining prime grade buildings,” Pillai said.
“The property’s prime corner position at the northern end of the precinct, combined with an efficient floor plate allowing for an adaptive asset plan, will hold the asset in excellent stead long into the future.”
The location is expected to further benefit from the new Melbourne Metro Rail project with the Domain station to be located within around 300 metres of 420 St Kilda Road.
CBRE senior director Neva Courts added the St Kilda Road market had emerged as a key investment destination for domestic and offshore investors.
“420 St Kilda Road offers both security of income and growth in the short to medium term in addition to long term opportunities for the site, which could include a potential redevelopment to residential or hotel,” she explained.
Michael Ng, executive director of CEL Australia, said the sale of 420 St Kilda Road will allow CEL Australia to redeploy funds into our current development projects in Melbourne and Perth in order to seek higher returns. 
“We are also looking into new development and investment opportunities across key Australian cities.”
The 420 St Kilda Road property has come to the market after the recent sale of 5 Queens Road in late 2016, by Charter Hall’s Office Trust. The sale, also brokered by CBRE, represented a passing yield of 5.64% and capital value of $6,665/sqm.
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CEL Australia lists prominent St. Kilda office tower

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$500,000 has been raised during the 2017 Charity Regatta to build a home for homeless youth, under the Foundation’s PIF House Program. Held at the Middle Harbour Yacht Club, the event was sponsored by Colliers International for the seventh year.
Property Industry Foundation national board member and Colliers International ANZ CEO, John Kenny, reflected on the fact every night across Australia there are over 44,000 young people who are homeless.
“Our support for the Foundation and the Regatta is a tangible way for Colliers International to make a real difference to the serious and persistent problem of youth homelessness,” he said.
In the lead up to the event, the Foundation in association with Colliers International, the Youth Sailing Academy and the Cruising Yacht Club of Australia created a two-day Youth Sailing Program.
Aiming to build the confidence of 12 disadvantaged young people and empower them to rebuild their lives, the young people are being assisted by four of the Foundation’s charity partners including Wesley Mission, CatholicCare, Marist180 and Weave Youth &amp; Community Services.
Property Industry Foundation CEO Rosemary Smithson said she was proud of the incredible support response from across the property industry.
“What this shows is that our donors in the property industry are committed to raising funds to rebuild the lives of at-risk and homeless young people,” she said.
Smithson thanked Colliers International as the Principal Sponsor for being such a strong advocate for the Foundation, the Regatta and the Youth Sailing Program.
“The support from Colliers International shows real leadership in corporate philanthropy. By doing that, they are encouraging other corporations to make a difference to the community,” she concluded. 
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Property industry commitment to young homeless people shines in charity regatta

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Developer Beulah International and design practice Fender Katsalidis Architects have joined forces to deliver an apartment project in Melbourne’s inner north east, known as Hallmark Ivanhoe.
Ranging in price from $420,000 to $1.5 million, the Hallmark Ivanhoe building is comprised of 35 apartments over five levels. Residents will have the choice of one, two, three and four bedroom apartments, with each offering treetop views and private outdoor terraces.
Interiors feature a neutral colour palette throughout, from reconstituted stone and natural stone to light and dark joinery, which are then complemented with bronze fixtures and finishes.
Nicky Drobis, director of design at Fender Katsalidis, commented that the key inspiration for Hallmark Ivanhoe stems from the diverse architectural history of Ivanhoe, including modernist architecture and the sophistication of art deco architecture.
“Hallmark Ivanhoe is a very elegant and simple building; it takes cues from the strength and sense of presence from modernist architecture in its simplicity and form, but also from the lightness and sophistication of art deco architecture within Ivanhoe,” she said.
“Throughout every era new architecture has been brought into Ivanhoe that’s been relevant and contemporary of its time, so we were really hoping to do the same thing with this building, Hallmark Ivanhoe,” she said.
<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/2017/04/12/HallmarkIvanhoe_Interior.jpg" alt="">
Drobis added the culture of Ivanhoe is still very similar to when she lived in the suburb growing up. 
“Ivanhoe is quite unique and special in that it’s a remarkably green space, it’s well located, it’s only 10kms from the city, but as a postcode and as a neighbourhood, it has everything you need.” 
<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/2017/04/12/HallmarkIvanhoe_Bathroom.jpg" alt="">
Kitchens have been designed in collaboration with renowned chef Adam D’Sylva and feature premium Gaggenau appliances, which are complemented and encased by natural stone and luxurious timber finishes.
Beulah International executive director Adelene Teh said Hallmark Ivanhoe will be suited to local downsizers who value great design.
“A key component of our vision is to add character and depth to the local communities in which we develop, ensuring strong emphasis is always placed on embracing the cultural nuances and history that makes each suburb or project unique.
“Residents within Hallmark Ivanhoe may be looking to downsize in size, but step up in terms of design, quality and lifestyle offerings,” she concluded. 
 To register your interest, please visit <a href="https://www.hallmarkivanhoe.com.au/" target="_blank">www.hallmarkivanhoe.com.au</a>.
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Beulah International and Fender Katsalidis Architects launches luxury residences in Melbourne’s Ivanhoe

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Australia needs supply not demand focused solutions to address our national affordability challenges, said the Housing Industry Association.
“Attempts to remove demand for new housing will reduce supply, affordability and jobs,” said HIA’s Deputy Managing Director, Graham Wolfe.
“While several measures announced today by Labor to address Australia’s housing affordability challenges provide a sensible approach to increasing supply of new homes, others targeting demand will have an adverse impact on affordability now and into the future,” said Mr Wolfe.
“We can’t address housing affordability nationally with both eyes solely on Sydney and Melbourne,” said Mr Wolfe.
“Sydney house price increases have been driven by many factors, including significant population growth, a ten-year supply recession, low interest rates and the impact of extremely high stamp duty costs on sales in the established housing market.”
The dynamics in Perth, Adelaide, Northern Queensland and Darwin are very different.
Foreign investors and self-managed superannuation fund investors cannot be blamed for the recent fall in house prices in Perth and Darwin, or the slower level of new housing activity in Adelaide.
Inflicting demand side measures on these capital cities ignores the significant negative impact on housing supply, jobs and economic growth in these economies.
Right now, if foreign capital investment in Australia helped bring significant residential development projects to commencement in Perth, creating jobs and production, the Western Australian economy would be much better for it.
Australia needs a credible land planning body to provide national monitoring and forecasting of future land release and housing requirements.
The body would help to inform government policy on financing, infrastructure and demographics.
Other policies to address housing affordability must include a reduction in the imbedded taxation on new housing, government funding to support infrastructure and reforms to address unnecessary planning delays in bringing new residential developments to market.
Our national housing affordability challenge is complex, and necessitates a national ‘cost of housing’ inquiry to identify impediments to the supply of new housing.
Such an inquiry would bring together the overlapping impact of regulations, taxes and barriers imposed by all three levels of government, and importantly, inform governments in developing cohesive, integrated and responsible housing reforms, measures and programs,” concluded Mr Wolfe.
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The answer to our housing affordability challenge is housing supply: HIA

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According to the ABS, consumer inflation in Australia has risen by 63% since 1998, according to Gareth Aird, an economist for CBA.
Over that same period, national dwelling prices have lifted by ~300% (chart 1).
<a href="https://www.propertyobserver.com.au/images/2017/04/20/Chart%201.jpg" target="_blank">Click to enlarge</a>
<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/2017/04/20/Chart%201.jpg" alt="">
Looking at the more recent past, dwelling prices have lifted by 44% since QI 2013 while headline inflation has only risen by 8% (chart 2).
<a href="https://www.propertyobserver.com.au/images/2017/04/20/Chart%202.jpg" target="_blank">Click to enlarge</a>
<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/2017/04/20/Chart%202.jpg" alt="">
For all intents and purposes, dwelling prices are excluded from the CPI.
In a technical sense, “new dwelling purchase by owner-occupiers” is included.
But this is simply the cost of new homes excluding land (i.e. it is basically a residential construction cost index).
In reality it’s not a representative measure of dwelling prices because it doesn’t take into account the primary driver of changes in the price of a dwelling – which is of course the price of land.
Growth in the new homes ex-land component of the CPI bears no resemblance to changes in dwelling prices (chart 3).
<a href="https://www.propertyobserver.com.au/images/2017/04/20/Chart%203.jpg" target="_blank">Click to enlarge</a>
<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/2017/04/20/Chart%203.jpg" alt="">
And yet this component of the CPI is worth a non-trivial 8.7% of the total basket.
According to the ABS, land prices are excluded from the CPI because they don’t fit the definition of a consumption good.
The ABS states that, “the CPI only includes goods and services that are purchased by households for consumption.
A consumption good or service is one from which households directly derive utility or satisfaction.
Any business–related purchases by households are excluded from the basket, as are those items that have a significant savings or investment component, such as land and capital goods.”
Here one could reasonably argue that purchasing a home to live in has aspects of both investment and consumption as utility and satisfaction are derived from home ownership.
We continue: the ABS also states that, “the principal purpose of the CPI has been to measure inflation faced by households to support the operation of macroeconomic policy decision making.”
Our emphasis is on “inflation faced by households” because clearly based on the exclusion of land prices in the CPI the ABS does not consider dwelling price rises to be “inflation faced by households”.
That is true for households who own a home.
But for aspiring home owners dwelling prices are part of the inflation that they face.
Their exclusion from the CPI therefore makes it an inaccurate measure of the type of living costs that they face.
The RBA supports the exclusion of land prices in the CPI and according to the central bank, “the purchase of existing housing represents a transfer within the household sector (which means that there is zero net expenditure by the household sector in these transactions)”.
Very true. But then rent is also effectively a transfer within the household sector from tenant to landlord and rent is included in the CPI.
Land is not the only component of the cost of home ownership that is excluded from the CPI.
Mortgage interest payments are also not in the consumer basket (they were included prior to 1998).
And there is no estimate of imputed rent (i.e. owner-occupiers are effectively renting properties from themselves).
This simply leaves “rent” as being the main component of the CPI that picks up changes in the cost of having a roof over one’s head, notwithstanding the ‘residential construction cost index’ component.
This would be fine if households were completely indifferent between renting and purchasing a home (i.e. if they were perfect substitutes).
But this is simply not the case.
Here we want to point out that we are not arguing for the inclusion of dwelling prices in the CPI.
Rather, we are questioning the basis for their exclusion given nothing in the CPI as it currently stands fairly picks up changes in the cost of purchasing a dwelling to live in.
For illustrative purposes, it’s very easy to construct a CPI that includes changes in dwelling prices.
Here we construct a modified CPI (called CPIH) whereby dwelling prices account for 10% of the basket – roughly equivalent in size to the “new dwelling purchase by owner-occupiers” component of the CPI.
We use the ABS residential price index as the measure of changes in dwelling prices to construct our new CPIH. The results are telling, but unsurprising.
The inclusion of dwelling prices in CPIH, even just accounting for 10% of the basket, pushes up the annual change significantly since 1998.
The annual change in CPIH is, on average, 55bps higher than the annual change in CPI (chart 4).
<a href="https://www.propertyobserver.com.au/images/2017/04/20/Chart%204.jpg" target="_blank">Click to enlarge</a>
<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/2017/04/20/Chart%204.jpg" alt="">
The point of this exercise is to highlight how the exclusion of dwelling prices from the CPI has masked the uplift in the cost of living for households who don’t own a dwelling but aspire to purchase one.
For them, the cost of living has risen by more than is implied by the CPI. This is, to an extent, very much a question of generational equity.
Real wages growth has generally been positive over the past five years despite falling nominal wages growth as CPI inflation has been trending down (chart 5).
<a href="https://www.propertyobserver.com.au/images/2017/04/20/Chart%205.jpg" target="_blank">Click to enlarge</a>
<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/2017/04/20/Chart%205.jpg" alt="">
But if we deflate nominal wages growth by a measure of inflation that includes dwelling prices (i.e. CPIH) the picture looks quite different (chart 6).
<a href="https://www.propertyobserver.com.au/images/2017/04/20/Chart%206.jpg" target="_blank">Click to enlarge</a>
<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/2017/04/20/Chart%206.jpg" alt="">
Deflating wages growth by CPIH more accurately captures real wage changes for those who aspire to own a home.
These individuals (or households) are generally below 35.
To put it another way, younger people, who are less likely to own a dwelling, have faced a greater deterioration in real wages than is implied by deflating nominal wages by the CPI.
This is because the single biggest purchase they are yet to make is not included in the CPI. And it has, of course, been rising much, much quicker than the CPI itself.
There is a monetary policy, inflation and dwelling price nexus.
The RBA’s mandate is to maintain price stability, full employment and the economic prosperity and welfare of the Australian people.
To achieve this, the Bank has an ‘inflation target’ and seeks to keep consumer price inflation in the economy, as measured by the CPI, in the 2–3% range on average, over the medium term.
Interest rates have needed to be on a long-run downward trend for the RBA to meet its inflation target as the neutral rate has fallen (charts 7 and 8).
<a href="https://www.propertyobserver.com.au/images/2017/04/20/Chart%207.jpg" target="_blank">Click to enlarge</a>
<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/2017/04/20/Chart%207.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/04/20/Chart%208.jpg" target="_blank">Click to enlarge</a>
<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/2017/04/20/Chart%208.jpg" alt="">
Throughout that period, Australia’s stock of debt has risen as a share of income, mainly driven by the household sector (chart 9).
<a href="https://www.propertyobserver.com.au/images/2017/04/20/Chart%209.jpg" target="_blank">Click to enlarge</a>
<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/2017/04/20/Chart%209.jpg" alt="">
Most of that debt has been going into bricks and mortar and dwelling prices have therefore risen faster than income.
But as discussed above, none of this has been captured in the CPI.
Back in 1997, the RBA argued against the inclusion of land in the CPI in its submission to the 13th Series CPI review.
And they also argued against including a mortgage interest component in the CPI because, “the interest charges as measured tend to distort the signal offered by the CPI of inflationary trends, by incorporating the policy responses to those trends.”
In other words, if the RBA cut (increased) rates then interest charges would fall (rise) thereby having the opposite intended impact by pushing down (up) on CPI inflation.
But including dwelling prices in the CPI would assist the RBA in hitting its inflation target.
Lowering (raising) interest rates has an immediate positive (negative) impact on the price of the very thing not included in the CPI – dwelling prices.
The hangover in Australia from pushing interest rates lower over an extended period of time to hit an inflation target has been a huge accumulation of debt and very high dwelling prices.
A raft of other policy decisions have also played their part.
The interest rate lever has helped to smooth out the business cycle.
But as we sit close to the lower bound in rates, and with debt a share of income at a record high, it seems futile to chase inflation any lower via more monetary policy stimulus unless the housing market falters and the appetite for additional debt cools.
A suite of policy reforms could help here.
When Governor Lowe appeared before the House of Representatives Standing Committee on Economics in late February he stated that, “the main effect (of another rate cut) would be more borrowing for housing, pushing up housing prices.” Touché!
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What if dwelling prices were included in the CPI?: Gareth Aird

A trio of Queensland property groups have unveiled plans for a $300 million mixed-use redevelopment of the former Noosa Bowls Club site, a proposal that would deliver more than 200 new homes in one of the Sunshine Coast's most supply-constrained markets.

Kilter Property, Frank Developments and Calile Malouf Investments are behind the plans for the 1.8-hectare site at <a href="https://www.apartments.com.au/new-apartments/99-noosa-drive-noosa-heads-qld-4567">99 Noosa Drive</a>, which would transform the long-vacant site into a new residential precinct featuring 208 apartments, retail, hospitality and public space.

The proposal comes as Noosa continues to grapple with housing affordability and a shortage of permanent accommodation, particularly for key workers. The site's location in Noosa Junction, close to shops, public transport and employment, aligns with the direction of Noosa Council's Housing Strategy, which encourages higher-density housing within established activity centres rather than continued urban expansion.

The draft plans include 48 affordable-by-design apartments and 48 rooming accommodation units aimed at key workers. Around 2,000 sqm of ground-floor retail and food and beverage space would activate the street frontage, alongside a new public town square and landscaped open space.

<img alt="Noosa" data-entity-type="file" data-entity-uuid="2dd02f53-1360-4e51-801e-bfd61a6c980e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-26%20at%208.44.34%E2%80%AFPM.png?VersionId=x1iNs3BSMN6Jy7YUwaBZMHRrrKX2hMpy" />

&nbsp;

Frank Developments Founder and Director Frank Licastro said the development would continue the company's focus on architecturally-led residential projects while addressing one of the region's biggest challenges.

"Not only will this project exude a sense of luxury, it will also enhance not only the built environment but also the surrounding community," Licastro said.

"Noosa's success relies on the people who live and work here. Providing well-designed accommodation for key workers is critical to supporting the local economy and ensuring the Shire can continue to thrive."

Kilter Property Co-Founder Huw Williams said the focus was on delivering additional permanent housing while creating a mixed-use destination that benefits both residents and the wider community.

"Our focus is on delivering a well-considered mixed-use project that provides more permanent housing options, supports local workers and businesses, and delivers an exceptional product for the local market," Williams said.

"The redevelopment vision aligns with the long-term evolution of Noosa Junction as a vibrant activity centre, creating a destination that enhances the area's character while delivering significant economic and community benefits."

Calile Malouf Investments, best known for its role in Brisbane's James Street precinct and The Calile Hotel, will bring its place-making experience to the project. The company recently commenced construction on The Calile Noosa hotel and says the residential development will complement its growing investment in the region.

CMI Director Cal Malouf said the aim was to create a walkable precinct combining housing, retail and hospitality while remaining true to Noosa's character.

"We see a similar opportunity in Noosa to deliver a vibrant, walkable destination that combines exceptional housing, hospitality and retail in one integrated project," Malouf said.

Brisbane-based Cavill Architects has been appointed to design the project.

Joel Robinson

Noosa Bowls Club to be redeveloped into mixed-use apartment precinct

One of Brisbane's last major riverfront redevelopment opportunities has taken a significant step forward, with Lendlease selected as the Queensland Government's preferred development partner for the former Visy site in South Brisbane.

The seven-hectare industrial site, positioned between South Bank and West End and 1.3 kilometres from the Brisbane CBD, will be transformed into a mixed-use precinct expected to deliver more than 4,000 new homes alongside extensive public open space and riverfront parkland.

The project is one of the largest urban renewal opportunities currently planned in Brisbane and is expected to play a key role in accommodating the city's growing population ahead of the 2032 Olympic and Paralympic Games.

Plans for the precinct include a network of riverfront promenades and boardwalks, new public plazas, parkland, amphitheatre-style gathering spaces and shared pedestrian and cycling links designed to reconnect the long-isolated site with the Brisbane River.

The Queensland Government is targeting delivery of the first homes and key public spaces before the 2032 Games, allowing the precinct to begin contributing new housing and public amenity well before the broader masterplan is complete.

The redevelopment is also expected to support more than 3,000 jobs across planning, construction and ongoing operations.

For Lendlease, the appointment adds another major urban regeneration project to its Queensland portfolio. The developer has operated in the state for more than 70 years and has delivered a number of large-scale mixed-use precincts in partnership with government.

Lendlease Development CEO Claire Johnston said the project represented one of Brisbane's most significant redevelopment opportunities.

"The transformation of the former Visy site represents a rare opportunity to reimagine one of Brisbane's most significant riverfront locations, deliver thousands of much-needed homes, and create long-term legacy," Johnston said.

"In partnership with the Queensland Government, we have the opportunity to create a new riverside destination that will help shape Brisbane's growth and how people experience the city for decades to come.

"This is exactly the type of large-scale, city-shaping development that will provide lasting benefits for Queensland, bringing together housing, jobs and world-class public spaces."

Deputy Premier and Minister for State Development, Infrastructure and Planning Jarrod Bleijie said the riverfront transformation would deliver a thriving new community precinct.

“The Crisafulli Government is delivering this golden opportunity to unlock a riverfront jewel for all Queenslanders,” Deputy Premier Bleijie said.

“This is a once-in-a-generation moment to reshape a significant slice of Brisbane and deliver lasting benefits – thousands of new homes, and public spaces for all Queenslanders to enjoy well beyond the 2032 Olympic and Paralympic Games – unlike Labor’s plan which would have delivered zero benefits and zero new homes.

“Queensland is well and truly open for business and through partnership with the private sector, we are accelerating delivery while ensuring strong housing, community and economic outcomes."

Early works on the precinct are expected to commence in April 2027.

Lendlease selected to deliver transformative South Brisbane riverfront precinct

Eddy Haddad's <a href="https://www.apartments.com.au/developers/level-33">Level 33</a> is levelling up its approved Wollongong development, as the coastal city south of Sydney continues to prove popular in the high-density development space.

Level 33, a longtime developer in the Wollongong area, has gone through the NSW Government's Housing Delivery Authority to upsize its approved two-tower development on the corner of Crown Street and Gladstone Avenue, just 100 metres from Wollongong Station.

The developer currently has approval for 252 apartments across two buildings rising to 19 storeys. It is now seeking approval for 33 and 38-storey towers that would deliver 467 apartments, including 67 affordable homes.

Designed by <a href="https://www.apartments.com.au/architects/bka-architecture">BKA Architecture</a>, the development would comprise apartments above a three-level podium with around 1,100 sqm of retail space, along with basement parking for 448 vehicles.

According to the Urban Design Report by BKA, the proposal has the capacity to "reinforce the precinct's identity by strengthening links between health, education, and transport services, while also contributing to Wollongong's ongoing evolution as a key regional centre."

Wollongong is somewhat in vogue. Between Level 33 and Urban Property Group, the two developers have several thousand apartments planned across the city.

Level 33 is currently delivering Easterly Wollongong, one of its most boutique projects to date with just 21 high-end apartments, as well as Atchison &amp; Kenny, a 329-apartment development due for completion later this year.

The developer plans to redevelop the 13,088 sqm WIN Grand megasite into <a href="https://www.apartments.com.au/new-apartments/crown-square-216-238-keira-street-wollongong-nsw-2500">Crown Square</a>, a new $500 million precinct with nearly 600 apartments. It also has more than 900 apartments planned for the former Bunnings Warehouse site at the intersection of Gipps and Flinders streets.

Urban Property Group is also playing a major role in the city's transformation. Its five-tower Keira Place precinct will deliver more than 800 homes, and it has recently lodged plans for a further 300 apartments near Wollongong Station.

First look: Level 33 upsizes Wollongong apartment towers

Just a week after filing plans for the final stage of its major Keira Place masterplan, <a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has unveiled another significant housing proposal in Wollongong, this time targeting a prominent site opposite North Wollongong Station.

The developer has lodged a State Significant Development Application for a 38-storey mixed-use tower at <a href="https://www.apartments.com.au/new-apartments/4-4a-flinders-street-north-wollongong-nsw-2500">4-4A Flinders Street</a>, around one kilometre north of the <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place precinct</a> currently taking shape on the edge of the CBD.

<img alt="First look: Urban Property Group plans 38-storey North Wollongong tower as Keira Place expansion gathers pace" data-entity-type="file" data-entity-uuid="2b6428f1-6405-4038-8476-897de440e90d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/flinders%20podium.png?VersionId=QLqEvK0OuCEwRC47oHNftrw2B1YqaHF8" />

Designed by Studio.SC, the proposal comprises a 38-storey mixed-use development containing 303 apartments, including 45 affordable housing units, alongside 174 co-living residences. The scheme also includes ground-floor retail space, extensive landscaping and public domain improvements.

Studio.SC noted in the proposal it "outlines a vision for a landmark transit-oriented mixed-use development centred around North Wollongong Station, designed to support the city’s future growth while responding to the NSW Government’s housing and planning reforms."

The architecture firm said the proposal responds to the opportunities and constraints shaping future growth within the 400-metre catchment of the station and represents "a coordinated and future-focused approach to urban intensification, contributing to the long-term evolution of North Wollongong as a connected, walkable and high-density station precinct."

The site occupies a strategic corner bounded by Flinders Street, Station Street, Stafford Street and the Princes Highway, directly opposite North Wollongong Station.

<img alt="First look: Urban Property Group plans 38-storey North Wollongong tower as Keira Place expansion gathers pace" data-entity-type="file" data-entity-uuid="7863adad-1f71-4022-b850-f44b252738fd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/flinders%20podium%20a.png?VersionId=WsU7av0g8_8R2tGHWxgHeFSlhu7yeY1V" />

The proposal follows Urban Property Group's recent submission for the second and final stage of Keira Place, which would deliver a further three buildings comprising 657 homes opposite Beaton Park. It builds on the first stage, which features 150 apartments across two towers and recently commenced construction.

Urban Property Group CEO Patrick Elias said breaking ground on the first stage marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/urban-property-group-unveils-trio-of-towers-for-next-stage-of-new-wollongong-precinct-keira-place">Urban Property Group unveils trio of towers for next stage of new Wollongong precinct, Keira Place</a>

First look: Urban Property Group plans next major Wollongong tower

<a href="https://www.apartments.com.au/developers/arada">Arada Australia</a> has wasted little time expanding its ambitions in Campsie, lodging plans for a second major project in the rapidly transforming town centre just months after unveiling its three-tower One Campsie proposal on Beamish Street.

The UAE-backed developer has now taken aim at one of the suburb’s most strategically positioned sites, filing a State Significant Development Application for a <a href="https://www.apartments.com.au/new-apartments/10-north-parade-campsie-nsw-2194">33-storey mixed-use tower</a> at 10 London Street and 43 North Parade, directly opposite the future Campsie Metro Station. The proposal is currently on public exhibition and represents another significant vote of confidence in Campsie's emergence as one of Sydney’s key transit-oriented growth centres.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the development would deliver 156 apartments above a podium containing retail and commercial space, creating a new residential and commercial gateway to the town centre. The scheme also includes a four-level above-ground parking podium and a dedicated residential amenity floor featuring wellness and recreation facilities. At least 10 per cent of the apartments would be allocated as affordable housing for a period of 10 years.

The proposal occupies a 1,631 sqm site bounded by London Street, North Parade and Dispensary Lane, immediately adjoining the future Metro station precinct and just metres from Beamish Street’s retail and dining strip. According to the Urban Design Report, the project seeks to deliver "a great place that prioritises human-scaled experience and provides spatial improvements to the area."

<img alt="First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans" data-entity-type="file" data-entity-uuid="175a8324-015b-4856-abe3-ce6f23199fa7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium%20campsie.png?VersionId=742UGwXFhFBX4GEl6wX4PYIWREAgn6il" />

Woods Bagot describes the tower as a key marker within Campsie's next phase of growth.

"Located directly opposite the new Campsie Metro Station on North Parade, 10 London Street is a thoughtfully composed 33-storey mixed-use tower that contributes to the ongoing transformation of the town centre," the Architectural Design Report states. The report says the project is intended to provide "high-quality homes within a vibrant, connected urban environment, while helping define Campsie's future skyline."

A strong emphasis has been placed on the public realm. The ground floor incorporates over 500 sqm of retail space and active frontages along both London Street and North Parade, while the podium is wrapped by extensive landscaped planting intended to soften the building's scale and strengthen the pedestrian experience. The development would also widen surrounding footpaths and improve connections between the Metro station and the broader town centre.

Above the podium, residents would have access to more than 1,400 sqm of communal amenities, including a pool, gym and landscaped recreation spaces. A distinctive green-wall treatment extending across four podium levels forms a major architectural feature, helping differentiate the project within the emerging high-density precinct.

The tower's design is closely tied to the broader Campsie Town Centre Master Plan and the arrival of Sydney Metro. The Urban Design Report notes the proposal "directly supports the Campsie Town Centre Master Plan by delivering new homes in a location explicitly identified for growth, improved accessibility, and high-quality urban renewal." It adds that the project contributes to the master plan's vision for a strengthened town centre supported by thousands of new homes around the future Metro station.

<img alt="First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans" data-entity-type="file" data-entity-uuid="bfd17654-253e-489a-bade-6278d63db412" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/base%20campsie.png?VersionId=3roJPMQGs36dazpkhvpvbDDP73Ld.Ica" />

The application follows Arada Australia's recently lodged One Campsie project at 124–142 Beamish Street and 16–18 Ninth Avenue, where the developer is seeking approval for 346 apartments across three towers rising 24, 32 and 39 storeys. Together, the two proposals would cement Arada Australia as one of the most influential developers shaping Campsie's future urban form.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-arada-files-for-trio-of-apartment-towers-in-campsie-town-centre">First Look: Arada Australia files for trio of apartment towers in Campsie town centre</a>

Arada Australia entered the Australian market in 2024 and has rapidly assembled a significant development pipeline across Sydney. Alongside its Campsie holdings, the developer is soon to launch <a href="https://www.apartments.com.au/new-apartments/wattle-green-2-fishburn-crescent-castle-hill-nsw-2154">Wattle Green</a> in Castle Hill, and has expanded its local operations following its acquisition of construction firm Roberts &amp; Co.

Located around 14 kilometres south-west of the Sydney CBD, the site sits at the centre of one of Sydney's fastest-changing middle-ring precincts. The Metro conversion of Campsie Station, combined with Canterbury-Bankstown Council's master planning framework, is driving significant residential intensification around Beamish Street and North Parade, with thousands of new homes expected over coming decades.

Staff reporter

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