<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
</main>

Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

<html><body>
From Bondi Junction to Broken Hill, NSW first home buyers are "back in the game," NSW Treasurer Dominic Perrottet exclaimed recently.
But first home buyers aren't there to play a game, and should pay very close attention to market conditions.
They ought not dive in simply because of the government incentives on offer.
The top location for stamp duty relief under the FHB grants scheme has been Liverpool where more than 400 buyers have taken up home ownership since last July.
It has been busy too in regional NSW with Gosford having 316 buyers, Wyong (224) and Wollongong (158). Also Wagga Wagga (251), Orange (230) and Dubbo (182).
The 222 Queanbeyan buyers suggests Canberrans are moving across the border. 
Since last July, the government grants have encouraged more than 19,000 home buyers to purchase their first home across NSW.
It was up from 5400 over the corresponding prior period in 2016.
NSW Premier Gladys Berejiklian has been "thrilled" that her tax changes have had such a big impact. 
She had made helping first home buyers one of her first priorities as Premier, when she took over from Mike Baird.
She concedes there is always more to do on tackling housing affordability. Indeed the Housing Industry Association executive director David Bare said the government's attempts were meagre considering that up to 40 per cent of new house purchases were made up of local, state and federal government taxes.
CoreLogic's head of research Cameron Kusher has recently warned first home buyers must be vigilant to avoid negative equity.
"Don't be lured into buying at the peak of the market because of attractive incentives," he advised.
From last July FHBs don’t have to pay stamp duty for new and existing homes for properties up to $650,000.
It represents a saving of maybe $26,000 to $34,000 depending on the purchase.
Stamp duty has also reduced for buyers paying between $650,000 and $800,000, along with incentives for new builds. 
The volume of new loans to FHBs has climbed substantially over recent months. But average loan sizes have only increased slightly which suggests FHBs are wisely not using the removal of the stamp duty barrier to borrow more. 
Kusher maintains first home buyers are the most sensitive to changes in interest rates. 
Although he expects the cash rate to be on hold until 2019, potentially higher mortgage rates should raise some alarm bells for potential buyers.
The removal of stamp duty has come at the same time as the APRA-induced decline in investor activity so the FHB fill a vital void.
Kusher maintains a better option may be for FHBs to remain on the sidelines somewhat longer "as values potentially continue to slide".
He adds it will allow more time to save an even larger deposit.
This article was first published in the Saturday Daily Telegraph.
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jchancellor-FAypfDUnLy

First home buyers back in the game - but need to know the rules

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The 12 Cross Street, Double Bay premises have been sold at auction for $14.7 million. 
The Ma family purchased the property which consists of five retail tenancies and five commercial tenancies.
It sold at a super compressed yield of 2 per cent to the family of HongKong press baron Ching-Kwan Ma.
Bidding started at $8 million with Damien Cooley of Cooley Auctions.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/3/1/12%20Cross%20Street%20Double%20Bay%20-%201.jpg" alt="">
Miron Solomons sold the property in conjunction with James Wilson at Colliers International and Matt Pontey. 
“This trophy asset not only has multiple income streams, but also offers significant development upside.”
The development pipeline is tipped to exceed $600 million, primarily in the form of apartments in Double Bay.
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j.ballantyne1990-6AQqhLzZaK

Ma family buys in Double Bay for $14.7 million 

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The Senate Economics Legislation Committee, Canberra have been given some charts which APRA chair Wayne Byres considered was helpful for any discussion on the house mortgage market.
 <img src="https://www.urban.com.au/images/2018/3/1/20180301-OpeningStatement-8.png" alt="">
The APRA benchmark of no more than 30 per cent of new lending by Australian banks being on interest-only terms was not overly restrictive for borrowers who genuinely need the form of finance, APRA noted recently.
While roughly 1-in-3 loans granted can still be on an interest-only basis, APRA boss Wayne Byres advised last month that data for the last quarter of 2017 shows that only about 1-in-5 loans were interest-only.
 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/3/1/OpeningStatement-2.jpg" alt="">
Byres said it had required the major interest-only lenders to establish strategies that incentivise more borrowers to repay their principal.
"The industry has been quite successful in doing so:, and the number of interest-only loans with high LVRs continued to fall to quite low levels.
"All of that is positive for the quality of loan portfolios," he told the A50 Australian Economic Forum dinner.
"While the direction in asset quality is positive, we’re not declaring victory just yet.
"We still want to see that the improvements the industry has made are truly embedded into industry practice.
"And we can modify our interventions as more permanent measures come into play.
"That will include, amongst other things, further strengthening of borrower serviceability assessments by lenders, strengthened capital requirements for mortgage lending imposed by us, and comprehensive credit reporting being mandated by the Government.
"Through these initiatives, we are laying the platform to make sure prudent lending is maintained on an ongoing basis," he 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/2018/3/1/OpeningStatement-3.jpg" alt="">
Byres told yesterday's hearing APRA did not have any particular target for house prices.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/3/1/OpeningStatement-4.jpg" alt="">
A recent review of the financial sector by the Productivity Commission found the clamp-down on interest-only applications may have actually provided a windfall for the banks and a cost to taxpayers.
Byres said he wasn't about to challenge the commission's calculation but said its view was oversimplified and believed there were other drivers at work.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/3/1/OpeningStatement-5.jpg" alt="">
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/3/1/OpeningStatement-6.jpg" alt="">
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/3/1/OpeningStatement-7.jpg" alt="">
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/3/1/OpeningStatement-8.jpg" alt="">
 
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Eights charts on the housing mortgage market that matter: APRA chairman Wayne Byres

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GUEST OBSERVER
Malcolm Turnbull is now connected to the National Broadband Network (NBN) at his Point Piper home on a 100 megabits per second (Mbps) plan, it was revealed in Senate Estimates yesterday. But only because his department intervened to avoid delays affecting other customers.
And while the Prime Minister might be happy with his NBN connection, that’s not the case for the 2.5 million customers waiting on a connection through their pay TV or cable service who have been left in limbo.
Lauded in the 2009 Commonwealth Budget as the single largest nation building infrastructure project in Australian history, the NBN is at risk of becoming an expensive white elephant in our cities. Years of political interference, poor technology decisions and a monopoly business attitude have damaged the brand.
Rather than meeting its objective of connecting 90% of homes and workplaces with broadband speeds of up to 100 Mbps, the NBN is looking more like a giant sponge. It soaks up public infrastructure dollars and returns high prices, long delays, unacceptably slow data speeds and service standards that are now the subject of an ACCC investigation.
As a result, a growing number of competitors are bypassing the NBN by undercutting prices and beating performance standards.
Adelaide bypasses the NBN
The latest challenge to the NBN came after South Australian Premier Jay Weatherill denounced the “very poor NBN outcome” and last week announced A$35 million in funding for an Adelaide fibre network alternative if he is reelected in March 2018.
The plan was warmly welcomed by Mighty Kingdom, an app and games developer who told the ABC, “I don’t have what I need to get me to the rest of the world.”
This follows news announced last year that Adelaide City Council is working with TPG to deliver an NBN-alternative broadband service to local businesses. The service promises fibre internet up to 100 times faster than the NBN, at lower prices, and with no installation costs for city businesses or organisations.
Lord Mayor Martin Haese said: "This technology will be a game changer for the city of Adelaide. It will be a boom for local businesses and other organisations, but will also attract business from interstate and across the globe."
NBN alternatives for Melbourne homes and businesses
Meanwhile two aggressive startups in the Melbourne market are hoping to take a serious bite from NBN’s lunch.
Lightening Broadband is connecting homes and businesses using microwave links capable of delivering both 100 Mbps download and upload speeds. That’s better than the comparable NBN Tier 100, which offers 90 Mbps download and 30 Mbps upload speeds.
The company is constructing microwave transmitters on tall buildings, connected to the telco’s core network using microwave links. Customers within a two-kilometre radius share a microwave transmitter, requiring a dish on their roof.
Another telco start-up, DGtek is offering its customers a full fibre alternative service.
Upon its launch in 2016, DGtek’s founder David Klizhov said: “Ideally the NBN would have worked if it was fibre to the home, but it’s taken quite a lot of time and we thought that we could have a go at the Australian market using technology that’s been implemented already overseas.”
DGtek uses Gigabit Passive Optical Networks (GPON) and runs it directly into tightly packed homes with the dense population of inner Melbourne. As a sweetener, DGtek offers free internet service to government organisations – such as schools and hospitals – in areas they service.
The threat from 5G and other new technologies
New entrant competition is not the only threat to NBN Co. Optus and Telstra are both launching 5G services in 2019. This represents a quantum leap in wireless technology that could win away millions of current and potential NBN customers.
While Vodafone CEO Inaki Berroeta has said that 5G is unlikely to replace the NBN in Australian homes, Optus Managing Director of Networks Dennis Wong recently told BIT Magazine:
"Everyone has heard of concepts like self-driving cars, smart homes, AI and virtual reality, however their full potential will require a fast and reliable network to deliver. Seeing 5G data speeds through our trial that are up to 15 times faster than current technologies allows us to show the potential of this transformative technology to support a new eco-system of connected devices in the home, the office, the paddock and in the wider community."
5G is not the only technological game changer facing the NBN. iiNet in Canberra has launched its Very-high-bit-rate Digital Subscriber Line (VDSL2) as its own superfast network.
According to iiNet, it is made up of fibre and copper and provides a faster connection than ADSL and most NBN plans. The network is independent from Telstra and differs to NBN in that iiNet’s VDSL2 network uses its own copper lines.
Levelling the field for smaller players
The huge capital requirements of rolling out telecoms infrastructure has always acted to deter more competition in the Australian market. But following a regulatory decision of the ACCC in 2017, smaller entrants can now enjoy cost-based access to some of the largest networks – including Telstra, TPG and Opticom – allowing them to better compete both with the big telcos, and with the NBN.
By providing access to superfast broadband access service (SBAS) and the local bitstream access service (LBAS), new entrants will be able to sell NBN-like fixed line superfast broadband wholesale.
So where to for the NBN?
Yesterday the government released a working paper forecasting that demand for bandwidth will double for households with high internet usage over the next decade. The report also suggests that the NBN is equipped to meet those needs.
<img src="https://counter.theconversation.com/content/92275/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">However, cost, technology and customer service problems continue to threaten the commercial success of the NBN. Without a radical rethink, it is doomed to fail its initial mission.
Allan Asher, Visitor, Regulatory Institutions Network (RegNet) &amp; Chair of Foundation for Effective Markets and Governance, Australian National University.
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/nbn-faces-irrelevance-in-cities-as-competitors-build-faster-cheaper-alternatives-92275" target="_blank">original article</a>.
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NBN faces irrelevance in cities as competitors build faster, cheaper alternatives: Allan Asher

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The prime Pitt Street Mall retailing site, which is the longtime Soul Pattinson Chemist premises is in the process of being sold to Kingvest for a reputed $100 million. 
JLL’s Simon Rooney and Rob Sewell are negotiating the deal on behalf of Washington H Soul Pattinson and Company Limited (WHSP).
The property was offered with the opportunity for vacant possession in mid-2016. 
"This is the end of a chapter in the company's history," said chairman Rob Millner.
"We will be sad to see the pharmacy closing its doors after 145 years, however, we are immensely proud of what has been achieved."
Victor Comino's Kingvest already owns<a href="http://www.afr.com/real-estate/sydney-businessman-buys-historic-former-darrell-lea-site-20150330-1mbdnx"> prime CBD </a>premises including the former Darrell Lea building and the Louis Vuitton store. 
The acquisition site has been the location of Soul Pattinson Chemist for some 145 years and it’s the first time it has come to market since 1873.
JLL’s Simon Rooney said Sydney's pre-eminent retail strip was Pitt Street Mall. 
“The infrastructure upgrades in the Sydney CBD and residential development will underpin the long term demand for retail space." 
160 Pitt Street is one of just 10 properties with Pitt Street Mall frontage. 
“As a result of the high retailer demand for presence along Pitt Street, it now commands some of the highest rents in the world, with recent evidence showing rates of $12,000 per square metre to $15,000 per square metre per annum.
“High profile international retailers have been drawn to Pitt Street Mall in recent years, including H&amp;M, Zara Home, Sephora, Uniqlo and Microsoft.”
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Soul Pattinson set to sell to Kingvest on Pitt Street Mall

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EXPERT OBSERVATION
Australians have spent the last month eyeing their share portfolios as the volatility of Wall Street crept into the ASX.
Over many decades, equities have been a proven performer for Australians. But just as a single day can have you planning a kitchen renovation, inherent risks can mean losses just as easily transpire; it’s part and parcel of the modern, global economy. As an example, in early February, about $70 billion was wiped from the All Ordinaries – the top 500 companies listed on the Australian Securities Exchange - in the space of three days.
Ask anyone what their goal out of an investment is and the response is unanimous: make as much money as possible.
Amongst the suite of investment classes – which continue to diversify through the profile of options like cryptocurrencies – real estate continues to be a cornerstone. As opposed to other options, it’s less exposed to daily or weekly fluctuations.
As an investment class, real estate has a tremendous profile, simply because the overwhelming percentage of people have had some form of relationship with property: most people have either been sellers, buyers or tenants at some point their lives. It’s this exposure that allows people to be more comfortable with the process and research involved, especially with the amount of information at our fingertips.
So how does real estate stack up?
There’s no such thing as a foolproof get-rich scheme. Any investment – irrespective of class – should be treated as a long-term proposition. So, while equities markets have taken a battering in the last few weeks, it’s more appropriate to view them in a long-term perspective.
Twenty years ago, the All Ords Index was 2894. In mid-February, the Index was around 6147, representing an average gain over time of 112%. Companies on the All Ords are, by their nature, solid, long-term performers that avoid fluctuations. While most investors will include some members of the All Ords in their wealth management strategies, they’ll supplement it with ‘higher risk’ performers which can accelerate returns.
But let’s examine residential real estate over the same period. In December 1997, the median house price across Australia was $139,000 (you can find some car spaces in the city fringes of Sydney and Melbourne being purchased for similar prices, today).
At the end of last year, the median national house price was $535,000, representing an increase of 285% over two decades – well above the performance of equities.
Look at the big picture
But results need to be viewed at face value with numerous variables involved in both. For instance, borrowing for shares is usually something only highly experienced investors engage in, while most real estate investors will borrow for their investment(s). So, commonly, share market gains can be seen in their entirety for most investors, while capital gains in property are offset by mortgage debts.
Also, real estate investors look for a combination of capital gains and yield in their investments. And if a property can be positively geared, the investor is placed in a great position.
But, it’s the safety of real estate that allows it to really stand out from other investment classes. As the below graph shows, the national median house price has only ventured into negative territory three times in the past 20 years. In contrast, equities have made negative 12-month gains on nine occasions.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/2/28/Picture1.jpg" alt="">
So, as an investment class, history has shown that real estate offers steady growth and less fluctuations in value. 
Mathew Tiller is head of research at LJ Hooker.
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Property v shares, the age-old debate: LJ Hooker's Mathew Tiller

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In 2017, Australian unlisted property funds performed three times stronger than Australian equities, averaging total returns of 23.4% for the calendar year.
In its quarterly report, Zenith Investment Partners, MSCI and the Property Funds Association said that unlisted property funds delivered a total return of 23.4% for the year to 31 December 2017 compared to the 7.7% return from Australian equities. 
Maarten Broek, Executive Director at MSCI, said that unlisted property funds also outperformed most other asset classes on a risk-adjusted basis. 
<img src="https://www.urban.com.au/images/2018/2/26/unlisted.png" alt="">
“Property as an asset class is delivering strong returns driven by investor demand and supported by rental growth, particularly in the Sydney and Melbourne office markets.  
“Although yields have compressed over the last few years, Australian property returns still have a high income return component, relative to both other global property markets and other asset classes.
Mark Lumby, Head of Commercial Property at Australian Unity, said Australian Unity’s unlisted property funds continue to deliver investors stable income returns, consistent with the report’s findings.
“The performance of our funds is driven not only by market conditions but also, through the application of our experience and active asset management, which includes redeveloping existing assets to generate a higher income and capital growth profile for our investors."
<img src="https://www.urban.com.au/images/2018/2/26/unlisted%202.png" alt="">
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Unlisted property funds Australia's best performing asset class in 2017

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Australia needs to change the way it assesses potential infrastructure projects, to ensure that governments can better understand which road and rail projects are worth building.
One way would be to make long-overdue changes to how we value the impact of infrastructure on future generations. This is done through the choice of a “<a href="https://www.investopedia.com/terms/d/discountrate.asp" target="_blank">discount rate</a>” – the mechanism used to compare costs and benefits of projects that occur at different points in time.
Australian governments have chosen to keep their central discount rate at 7% since at least 1989. This is despite one of the key components of the discount rate, the real borrowing rate, varying from as high as 8% to below 1% in this time.
The <a href="https://grattan.edu.au/report/unfreezing-discount-rates-transport-infrastructure-for-tomorrow/" target="_blank">latest report</a> released by the Grattan Institute recommends that governments adopt discount rates that change when the world changes, and that reflect the riskiness of a project.
While the concept might seem arcane, using an artificially high discount rate muffles the signal that tells governments what projects are worth building and which ones aren’t. Using the wrong discount rate probably means we build the wrong infrastructure.
<h2>Costs and benefits</h2>
A future benefit or cost needs to be converted into today’s dollars because future dollars have a different value to today’s dollars. This is because, even ignoring the effects of inflation, people value a dollar today more than one at some future date.
When a transport project’s benefits mostly come about in the distant future, a high discount rate treats those benefits more sceptically than a low discount rate would.
The Melbourne Metro rail project provides a good example of the discount rate’s importance. If we use a 7% discount rate, as recommended by Infrastructure Australia, the estimated benefits are only a tiny <a href="http://infrastructureaustralia.gov.au/projects/files/Melbourne_Metro_Project_Evaluation_v2.pdf" target="_blank">10% larger than the costs</a>.
But using a 4% discount rate, the project will deliver benefits that are almost two-and-a-half times greater than the project’s A$9 billion cost.
On one reading, then, the project is expected to be a major economic success. On another its value is marginal. Changing the discount rate has huge implications for the cost-benefit analysis of new projects.
The discount rate is also an important determinant of the mix of projects that governments consider. As you can see in the chart below, changing the discount rate changes the rankings of different projects.
<a href="https://images.theconversation.com/files/207620/original/file-20180223-108150-1xh6vfh.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip" target="_blank"><img src="https://images.theconversation.com/files/207620/original/file-20180223-108150-1xh6vfh.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
<h2>Re-examining the basis for Australia’s discount rates</h2>
Discount rates are part of the appraisal and ranking of potential infrastructure projects. The discount rate is designed to reflect the next-best use of the resources for that project, and with the same level of risk.
The next-best project could be another project in the transport portfolio, in another portfolio, or even a financial investment overseas with the same level of risk.
Our report challenges the way Australian governments apply this framework. Instead of being frozen at 7%, discount rates should vary when there is material variation in the cost of money. In addition, discount rates should differentiate between projects that are more risky and those that are less risky. If we are comparing a low-risk project with a riskier one, then we’re comparing apples with oranges.
The cost of money is usually inferred from government borrowing costs, signalled by the 10-year Commonwealth bond rate. Back in 1989, when the 7% discount rate was established in Australia, the government borrowing rate <a href="https://tradingeconomics.com/australia/government-bond-yield" target="_blank">was 6.8% in real terms</a> (adjusted for inflation); in 2017, it was 0.8%.
Discount rates should reflect such a dramatic change in the cost of money.
The type of risk that matters for discounting is the sensitivity of a project’s expected returns to the economy generally – known as the <a href="https://www.investopedia.com/walkthrough/corporate-finance/4/return-risk/systematic-risk.aspx" target="_blank">systematic risk</a>.
Most government transport infrastructure is still used whether the economy is booming or in the doldrums, because most people keep on travelling to work or school and buying transported goods. But some projects are more sensitive than others to the state of the economy, and the discount rate should be higher for them.
If we incorporate risk and the cost of low-risk borrowing, the discount rate in 2018 should be around 3.5% for projects where systematic risk is low, and around 5% where it is high by the standards of transport infrastructure projects.
Both rates are substantially below today’s 7% standard central rate. Sensitivity testing remains important, of course, because precision is difficult.
<h2>Better evaluations</h2>
Lower discount rates will help to make clear which are the most valuable transport projects available. But they will also make the economics of all transport projects look better.
Our recommendations may therefore seem at odds with previous Grattan Institute analysis, which showed that Australian governments have <a href="https://grattan.edu.au/report/cost-overruns-in-transport-infrastructure/" target="_blank">systematically underestimated the cost of transport projects</a>, making many appear more attractive than they really were.
But our consistent goal is to improve all aspects of project selection and appraisal, so we can know which are the best projects to build and in what order. This accords with past work by both the Productivity Commission and <a href="https://bitre.gov.au/publications/2005/files/report_110.pdf" target="_blank">Bureau of Transport, Infrastructure and Regional Economics</a>, arguing that the discount rate is not the appropriate way to deal with optimism bias.
<img src="https://counter.theconversation.com/content/92265/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">Ultimately, using an artificially high discount rate comes at the cost of distorting public policy priorities. We should be aiming to improve every aspect of evaluation wherever better approaches are evident, so we build the right projects in the right order. Better discounting would be a big step in that direction.
<a href="https://theconversation.com/profiles/marion-terrill-325786" target="_blank">Marion Terrill</a>, Transport Program Director, <a href="http://theconversation.com/institutions/grattan-institute-1168" target="_blank">Grattan Institute</a> and <a href="https://theconversation.com/profiles/hugh-batrouney-318476" target="_blank">Hugh Batrouney</a>, Fellow, <a href="http://theconversation.com/institutions/grattan-institute-1168" target="_blank">Grattan Institute</a>
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/smart-money-a-better-way-for-australia-to-select-big-transport-infrastructure-projects-92265" target="_blank">original article</a>.
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A better way for Australia to choose big transport projects

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A piece of Tasmanian history that pre-dates the historic Port Arthur has been listed for sale.
The publicly-owned Willow Court compound near Hobart sits on 2,900 sqm and comprises a number of buildings and gardens.
It is the centrepiece of the Royal Derwent Hospital which was decommissioned in 2000. It was Australia's longest-operating mental health facility.
LJ Hooker Commercial Hobart agent Mark Devine is listening to expressions of interest until April 20. Devine said the property will need to be renovated, but has high hopes of it achieving national recognition.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/2/28/Willow%20Court_4%20copy.jpg" alt="">
“Willow Court was closed in 2000, so while significant refurbishment is needed, the stately facades and internal character will appeal to developers who can recognise a unique opportunity in an emerging tourist market.
“Willow Court has the fundamentals to join Port Arthur, Constitution Dock, MONA and other sites on the growing list of internationally recognised tourism hubs in Tasmania."
The property, expected to be sought after by developers, already has a commercial aspect.
The Argrarian Kitchen opened less than a year ago and has been on the radar of foodies since it was awarded two Hats by the national Good Food Guide.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/2/28/agarian.jpg" alt="">
“The Agrarian Kitchen has done a tremendous job in showcasing the quality produce of the Derwent Valley,” Devine said.
“Its success has convinced Council to pursue complementary uses for the site, with particular interests in artisan retail, community and tourism amenities.
  
 
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jrobinson-rf4aSBido9

Australia's longest running mental health facility listed in Tassie

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An opportunity to acquire a significant parcel of level land at Westmead with development potential has hit the market.
Located at 93 Bridge Road, the site occupies 8,664 square metres of land and benefits from a 92.795 metre frontage along Bridge Road to the western elevation and 256.6 metres of combined local internal road frontages along the Northern and Southern boundaries of the property. 
The site is located in a gateway position close to the Westmead health district to the North and situated on the western fringe of the Parramatta CBD.
The existing improvements on the site comprise 31 single storey two bedroom villas. 
The site is underdeveloped subject to the provisions of the Parramatta Local Environmental Plan 2011 and benefits from a R4 High Density Residential zoning with an accompanying 1.7:1 floor space ratio and a building height of 20 metres allowing for up to six storeys of residential development. These existing provisions allow for the construction of circa 14,728.80 square metre of potential GFA.
They expect the very limited supply meant offerings such as 93 Bridge Road are sure to be keenly pursued by a number of local and offshore groups.
93 Bridge Road, Westmead is being sold through Savills Australia with offers due April 5 through Neil Cooke, director residential site sales at Savills Australia, and Stuart Cox and Johnathon Broome of Savills Australia.
Savills suggests a growing population, low interest rates, infrastructure spend and consumer confidence has seen values within Westmead, one of Sydney’s popular growth suburbs soar over recent years.
That growth is likely to continue its upward trend, ensuring new developments in Westmead remain highly desirable, it says.
Westmead’s location surrounded by hospitals, schools, transport links and the Parramatta CBD. 
Over $900 million has been allocated to the redevelopment of Westmead Hospital which will feature a new building, called The Central Acute Service Building as well as infrastructure upgrades and the recently completed eight level car park offering 1,250 spaces. The new Acute Service building will be completed by 2020.
Westmead is 22km west of the Sydney CBD and only 2km west of the Parramatta CBD.
Parramatta is commonly known as the geographical centre of Sydney and is a thriving metropolis of commercial and economic activity being the sixth largest CBD in Australia.
Major amenity upgrades have occurred around the railway station with the expansion of Westfield Parramatta (second largest retail complex in Australia), the creation of a new transport interchange and the ongoing development of the Parramatta Square
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/2/26/Westmead%20to%20Sydney%20CBD%20aerial.jpg" alt=""> 
Savills have recently noted there have been "very few development opportunities within the area" and only a handful of significant sites offered to the market in recent years.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/2/26/93%20Bridge%20Road_Westmead-%20site%20aerial.jpg" alt="">
 
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