A new 25-storey apartment tower proposed for Mercer Street would push Geelong’s western gateway skyline higher, with Morphy Birrell Property Group lodging plans for a project directly beside one of the city’s most significant heritage streetscapes.

The <a href="https://www.apartments.com.au/architects/fk-australia">FK</a>-designed development at <a href="https://www.apartments.com.au/new-apartments/65-67-mercer-street-geelong-vic-3220">65-67 Mercer Street</a> has now been referred to Victoria’s Planning Minister. The site sits opposite the Geelong rail corridor and immediately south of the heritage-listed St Peter and Paul’s Catholic Church and Ashby Hall precinct.

Rather than compete with the neighbouring ecclesiastical buildings, the proposal adopts a sculpted podium intended to reference the materiality and scale of the heritage context. Planning documents note the design draws cues from the “dark stone brick” church and surrounding masonry buildings, while the tower above transitions into a softer, curved form oriented toward Corio Bay and the Geelong waterfront.

<img alt="First look: Morphy Birrell Property Group targets 25-storey Geelong tower beside landmark church precinct" data-entity-type="file" data-entity-uuid="b797d10c-d4a6-47af-b8df-1aeaa3b382be" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/public%20square.png?VersionId=QGIpcz1x1hKB6lQLl2iobyHqb6PS2Ztc" />

The development forms “Stage 5” of Morphy Birrell Property Group’s broader Mercer Street precinct strategy, following the completion of the 21-storey Miramar tower on Cavendish Street and several additional approved redevelopment stages nearby. Planning consultants Ratio said the proposal “represents an exemplary development outcome” aligned with the strategic ambitions for Central Geelong’s continued urban renewal.

The mixed-use project would replace an existing low-rise commercial building and surface parking area on the 3,320 sqm corner site. FK’s urban context report describes the proposal as a residential development comprising apartments, resident amenities, commercial space, and integrated landscaping positioned to maximise bay views and northern sunlight access.

Renders show a deeply articulated tower with curved balconies stepping above a lower masonry podium that frames a landscaped forecourt facing Mercer Street. The design intentionally preserves sightlines toward the adjacent church buildings, with the podium scaled to reinforce the heritage edge before the tower recedes upward.

<img alt="First look: Morphy Birrell Property Group targets 25-storey Geelong tower beside landmark church precinct" data-entity-type="file" data-entity-uuid="2bdca91e-66f7-4ac7-8baa-2f93bd5b564e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/geelong%20site.png?VersionId=QOhbino4ZgzKYw5dW3QE14E.2yq.Sv87" />

The planning report highlights the site’s strategic location within 400 metres of key Geelong destinations including Cunningham Pier, the Geelong Station precinct, Deakin University, and the convention centre. Bus services run directly along Mercer Street, while the Corio Bay foreshore sits around 100 metres north of the site.

The proposal arrives amid accelerating redevelopment across central Geelong, where planning policy continues to encourage higher-density housing close to transport infrastructure and the waterfront. Mercer Street in particular has emerged as a focal point for taller apartment development due to its proximity to Geelong Station, the bay, and major civic infrastructure.

Joel Robinson

Morphy Birrell Property Group targets 25-storey Geelong tower beside landmark church precinct

Development giant&nbsp;<a href="https://www.apartments.com.au/developers/hamton">Hamton</a> and joint venture partner Hostplus have revealed the next residential stage of their $3 billion Moonee Valley Park masterplan, lodging plans for 512 more apartments within the precinct on surplus racecourse land at 110 Wilson Street, Moonee Ponds.

The proposed development, dubbed&nbsp;<a href="https://www.apartments.com.au/new-apartments/trackside-house-110-wilson-street-moonee-ponds-vic-3039">Trackside Gardens</a>&nbsp;in the planning application, follows the <a href="https://www.apartments.com.au/news/vic/first-look-exclusive-hamton-and-hostplus-reveal-sixth-stage-of-moonee-valley-park-masterplan">recent unveiling of the sixth-stage Cox Place Precinct</a> and continues the long-running transformation of the Moonee Valley Racecourse into one of Melbourne’s largest urban renewal projects.

Positioned on the north-eastern edge of the racecourse adjacent to CityLink, Trackside Gardens will comprise three residential buildings rising between 61.8 metres and 86.4 metres within a heavily landscaped precinct shaped by Hamton’s Nature Based Cities framework.

The project forms part of the broader Moonee Valley Park redevelopment being delivered by Hamton, Hostplus and the Moonee Valley Racing Club, which is reshaping the 40-hectare racecourse site into a mixed-use neighbourhood with housing, retail, commercial space, hotels, parkland and community infrastructure.

Trackside Gardens sits separately to the recently proposed Cox Place Precinct, a five-building stage comprising around 1,100 residences, two build-to-rent buildings, two build-to-sell towers, retail, office space, and a hotel overlooking the racetrack. Together, the projects continue to accelerate housing delivery across the precinct.

<img alt="First look: Hamton expands Moonee Valley Park masterplan with 512-home Trackside Gardens precinct" data-entity-type="file" data-entity-uuid="5fc1941e-52d3-41c6-abc4-0f13fe8ae5ea" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/DA%20Edits%20%281%29.png?VersionId=7qwRHq5dcvXWNot2hNOgoQhN2GIWudNK" />

Designed by <a href="https://www.apartments.com.au/architects/dko-architecture">DKO Architecture</a> with landscape architecture by Tract, Trackside Gardens has been conceived as a botanical-style residential precinct prioritising canopy planting, communal green space, and vertical landscaping.

“The architectural vision for the proposed development centres around buildings in a botanical park setting that champions the important role of nature,” the planning submission states.

“The proposal incorporates principles of biophilic design, with landscape and environmentally sustainable development influencing the ultimate design response of the buildings and prioritising the ground plane to ensure a high amenity for both occupants and visitors.”&nbsp;

Trackside Gardens will deliver 512 apartments across the three buildings, alongside 518 basement car spaces and 523 bicycle spaces. Around 20 per cent affordable housing is proposed across the broader North East Precinct, equating to around 158 dwellings.&nbsp;

The affordable housing component will be concentrated within the Wilson East building, while the remaining apartments are expected to be delivered as build-to-sell residences.

Trackside Gardens has been designed around Hamton’s Nature Based Cities initiative, founded by Executive Chair Paul Hameister OAM in partnership with the University of Melbourne, Urbis, Ark Resources and Tract. The initiative promotes integrating higher-density urban development with significant biodiversity, tree canopy and landscape outcomes.

<img alt="First look: Hamton expands Moonee Valley Park masterplan with 512-home Trackside Gardens precinct" data-entity-type="file" data-entity-uuid="89353449-7b3c-42fd-8fd8-8bf64a5ef80f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_4.png?VersionId=X8jRt0P2L7fIWjLhfX6gPknXToXIBeLj" />

A comprehensive landscape strategy would introduce deep soil planting, vertical greening, communal gardens, and new pedestrian links throughout the site.

Planning documents state the development is targeting a 5 Star Green Star Buildings rating, a 7.5-star average NatHERS rating, and “Exemplary” Nature Based Cities certification.&nbsp;

The proposal joins an expanding pipeline of approved and proposed buildings within Moonee Valley Park, including the recently launched Eveline apartments and the approved Grandstand North and South towers.

Hamton has increasingly focused on precinct-scale, nature-led communities across Melbourne’s middle-ring suburbs, with projects spanning Hawthorn, Kew, and Moonee Ponds.

Hampton unveils Trackside Gardens, latest stage of $3 billion Moonee Valley Park masterplan

The Paul Gedoun-led <a href="https://www.apartments.com.au/developers/ss-projects">S&amp;S Group</a> has achieved another milestone in its $1 billion transformation of Rainbow Bay on the southern Gold Coast with the completion of the company’s third project in four years, the $160 million <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a> residences.

Delivered by <a href="https://www.apartments.com.au/builders/hutchinson-builders">Hutchinson Builders</a> and designed by <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker Architects</a>, Esprit buyers have now moved into the 94 apartments across two interconnected buildings at 217-227 Boundary Street.

The successful settlement of Esprit marks another astounding chapter in the S&amp;S story, which launched its highly successful Flow apartments three years ago and created its own ultra-luxury branded fingerprint on an area craving new luxury residences.

Most early purchasers have secured gains of well over $1 million since the project launched in 2021.&nbsp;

[smartcode_project:default project_id=102921 project_image_fid=172129]

S&amp;S Projects Founding Director Paul Gedoun said the completion of Esprit reflects sustained demand for premium apartments in tightly held coastal locations.&nbsp; 
&nbsp;&nbsp; &nbsp; 
“Esprit has attracted buyers seeking a combination of quality design, considered amenity and a location that is becoming increasingly difficult to replicate,” said Gedoun.

“We identified some years ago that Rainbow Bay is a unique market where supply of luxury residences is limited, and we see the settlements in Esprit further underpinning this thinking - that for both owner-occupiers and investors.”&nbsp;

[smartcode_project:default project_id=102921 project_image_fid=172174]

A key feature of the development is ‘Club Esprit’, a 1,000sqm residents-only rooftop level combining wellness and recreation, believed to be a first for the Gold Coast, and which is fast becoming a signature of the S&amp;S brand.

Positioned to capture views across Snapper Rocks, Rainbow Bay and the Tweed River, the rooftop includes a 25-metre lap pool, gym, yoga lawn, sauna and steam facilities, ice bath, private dining spaces, outdoor cinema and landscaped areas for residents.&nbsp;

<a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a> Director Jayde Pezet, who led the sales campaign for Esprit and S&amp;S’s Flow and Awaken apartments, said the project’s performance reflects both the strength of the product and the depth of demand for premium apartments on the southern Gold Coast.&nbsp;

“In some cases, we’ve seen values double since launch, which is a clear reflection of how tightly held Rainbow Bay has become and the level of demand for well-executed projects in this market,” said Pezet.&nbsp;

“Buyers recognised early what S&amp;S Projects was delivering here, and that conviction has been rewarded as the project has progressed towards completion.”&nbsp;

[smartcode_project:default project_id=102921 project_image_fid=214819]

Esprit offers a mix of two- three and four-bedroom apartments and sits within walking distance of the beachfront, cafés and local amenities, reinforcing its appeal as both a lifestyle and investment destination.

The project is the third completed by S&amp;S Projects in Rainbow Bay, following Flow Residences and Awaken Residences, which together have contributed to the suburb’s emergence as one of the Gold Coast’s most sought-after coastal pockets. &nbsp;

S&amp;S Projects is continuing its investment in the area with Radia, a $215 million development currently under construction.&nbsp;

[smartcode_project:default project_id=102921 project_image_fid=172175]

Gedoun said the completion of Esprit signals continued confidence in the southern Gold Coast market.&nbsp;

“We’ve seen strong interest in well-located, high-quality apartments, particularly in areas where future development opportunities are limited."

“That’s been a key factor in the performance of Esprit and the broader Rainbow Bay market”.

[smartcode_project_cta:default project_id=102921]

Owners move in as Esprit completes at Rainbow Bay

Few developers can boast a portfolio across South East Queensland's luxury markets quite like <a href="https://www.apartments.com.au/developers/mosaic-property-group">Mosaic Property Group</a>.

The builder-developer, founded in 2004 by Managing Director Brook Monahan, has projects in planning, on the market, and under construction, from Burleigh Heads and Broadbeach to Kangaroo Point and South Brisbane.

With a pipeline exceeding $2 billion, Mosaic remains highly selective when it comes to development sites, having spent years refining its strategy around feasibility research and product planning. The group is set to continue growing into 2026 and beyond.

In Brisbane, Mosaic currently has three projects in the market. It is in the final release stage at <a href="https://www.apartments.com.au/new-apartments/the-bedford-by-mosaic-16-30-prospect-street-kangaroo-point-qld-4169">The Bedford</a> in Kangaroo Point, which is approaching complete sellout ahead of its late 2027 completion.

[smartcode_project:default project_id=134792 project_image_fid=328123]

Designed in collaboration with <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, The Bedford comprises 128 two- and three-bedroom residences. A selection of ultra-luxury Masterpiece Series Skyhomes, positioned across the top levels, offer expansive floor plans and sweeping views of the river and city.

High-end inclusions, such as natural stone benchtops, bespoke cabinetry, and Miele appliances, feature throughout all apartments, alongside the Rooftop Recreation &amp; Retreat Sky Terrace. This includes a resort-style pool with sun deck and loungers, spa, cold plunge pool, sauna, steam room, private dining room with a full kitchen, residents' lounge, multiple barbeque and relaxation zones, an outdoor viewing deck, and landscaped gardens with water features, all oriented to sweeping city and river views.

A gym with indoor and outdoor zones, and a golf simulator, further enhances recreational choice within the building.

[smartcode_project:default project_id=134792 project_image_fid=328119]

A defining feature of the development is its integrated mixed-use component, which will deliver Kangaroo Point's first major supermarket, alongside a café and liquor store, bringing long-awaited convenience to the peninsula.

Monahan says The Bedford represents the culmination of a near-decade-long journey, after first identifying the A-grade Prospect Street site in 2016. While they came close to acquiring it at the time, the site was ultimately purchased by Woolworths' development arm, Fabcot. The opportunity resurfaced in 2024 when the site, vacant for nearly three decades, was brought back to market.

Monahan says Mosaic projects often begin years before any formal plans are drawn. Their new South Brisbane development is no exception, with the site first earmarked in 2018.

"We aren't opportunistic," Monahan says. "Every site purchase is carefully considered. As seen with Kangaroo Point and South Brisbane, it can take years to eventuate. There are sites we're looking at now that we may not secure for several years."

[smartcode_project:default project_id=141711 project_image_fid=353495]

A similar story unfolded at <a href="https://www.apartments.com.au/new-apartments/the-carter-by-mosaic-77-linton-street-kangaroo-point-qld-4169">The Carter</a> in Kangaroo Point, opposite The Gabba. Like The Bedford, it is also approaching sellout of its 125 two- and three-bedroom apartments. The majority of sales are attributed to returning customers and referrals, with a balanced mix of investors and a strong majority of owner-occupiers.

BDA Architecture was again engaged to design the 22-storey building, which will feature a suite of wellness and lifestyle amenities, including a golf simulator and cinema, a commercial-grade gym, and a rooftop recreation level with a pool, steam room, sauna, cold plunge, teppanyaki bar, private dining spaces, and landscaped terraces.

Construction is on track for completion in mid-2027.

[smartcode_project:default project_id=151614 project_image_fid=362759]

Mosaic's latest offering is its most ambitious yet, boasting a rare, north-facing riverfront position on Montague Road in South Brisbane.

<a href="https://www.apartments.com.au/new-apartments/the-riversdale-by-mosaic-south-brisbane-91-montague-road-south-brisbane-qld-4101">The Riversdale by Mosaic</a> is a 39-storey tower comprising just over 200 residences and Masterpiece Series Sky Homes. Designed in partnership with Bureau Proberts, it will feature nearly 3,000 sqm of genuine, internationally benchmarked six-star, hotel-style amenities, including a wellness precinct, pool, gym, massage and treatment rooms, cinema, golf simulator, and extensive outdoor dining areas across a two-level rooftop deck.

Early works are underway, with full construction expected to commence in the second half of 2026, and an anticipated late 2029 completion.

[smartcode_project:default project_id=151614 project_image_fid=362759]

Since 2012 alone, Mosaic has completed more than $2 billion in projects and is set to deliver another $2 billion worth of developments, comprising hundreds of luxury apartments, each defined by Mosaic's signature standards of quality, detail, and delivery.

"We never arrive, there is no finish line," says Monahan. "Our ambition is to keep evolving what luxury means, creating design- and lifestyle-led residences in incredible locations, places people genuinely aspire to and want to live, homes that are loved deeply and endure long beyond their moment."

Mosaic's Midas Touch

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> (Urban) has broken ground at Keira Place, its new major mixed-use residential precinct in the heart of Wollongong CBD.

Held at 120-122 Smith Street, the groundbreaking marked the commencement of construction on Stage 1 of <a href="https://www.apartments.com.au/new-apartments/keira-place-120-122-smith-street-wollongong-nsw-2500">Keira Place</a>, with the opening of the new display suite. 
&nbsp; 
Keira Place is a State Significant Development that will deliver new housing supply, affordable homes and inclusive living options within walking distance of Wollongong’s CBD, coastline, transport, hospital and education precincts.

[smartcode_project:default project_id=144442 project_image_fid=369868] 
&nbsp; 
Stage 1 is now under construction and will deliver 150 apartments across two residential buildings, including 27 affordable housing apartments and 18 specialist disability accommodation dwellings, along with activated ground-floor retail and commercial space. 
&nbsp; 
Urban Co-CEO Patrick Elias said the groundbreaking represented a significant milestone for Wollongong and reflected Urban’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. 
&nbsp; 
“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.”

[smartcode_project:default project_id=144442 project_image_fid=369869] 
&nbsp; 
Hon. Paul Scully MP, Minister for Planning and Public Spaces, Member for Wollongong said Keira Place is exactly the kind of development Wollongong needs – delivering new homes close to transport, employment and services, while supporting the continued growth and renewal of the CBD.

"This project reflects the Minns Labor Government's commitment to increasing housing supply in well-located areas." 
&nbsp; 
Wollongong Lord Mayor Cr Tania Brown said Keira Place would deliver lasting community benefits for the city. 
&nbsp; 
"Keira Place is a welcome addition to Wollongong's CBD delivering new housing, affordable homes and activated street-level spaces that will benefit our community for years to come," Brown said. 
&nbsp; 
"Urban Property Group's investment reflects the confidence that quality developers have in Wollongong's future, and I look forward to seeing this precinct come to life."

[smartcode_project:default project_id=144442 project_image_fid=369867] 
&nbsp; 
Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a>, with interiors by <a href="https://www.apartments.com.au/interior-designers/dko">DKO,</a> Keira Place prioritises liveability and long-term performance, with landscaped shared spaces, generous apartment layouts and a pedestrian-friendly streetscape along Smith Street. 
&nbsp; 
Residents will have access to landscaped podium areas, communal rooftop amenities with views to Mount Keira and the Wollongong skyline, and convenient ground-level retail.

The development will have 10-year Latent Defects Insurance by Resilience Insurance.

[smartcode_project_cta:default project_id=144442]

Groundbreaking marks start of construction at Keira Place in Wollongong CBD

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

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Queenscliff in Victoria is the most popular retirement hotspot in Australia, according to CoreLogic's latest report.
The property data firm says that 40% of the population in Queenscliff are retirees aged over 65.
With only 2,904 residents, the small council area of Queenscliff on the Bellarine Peninsula in southern Victoria, recorded the highest proportion of retirees aged over 65 years (40.3%) according to the Australian Bureau of Statistics (ABS) population data.
The small council area of Quairading in Western Australia’s Wheat Belt region enjoyed the greatest house value growth over the year (+21.5%), followed by Shoalhaven in New South Wales (+15.3%).
Of the council areas that have recorded house value falls over the past year, the greatest falls have been recorded in Mount Remarkable in South Australia (-7.1%) and Flinders in Tasmania (-5.2%).
A review by CoreLogic of the ABS retiree population analysis highlights 50 council areas nationally are showing the highest proportion of residents aged at least 65 years of age.
Immediately noticeable by research analyst Cameron Kusher, is that not one of the 50 council areas listed is located within a capital city.
He said, “In fact, if we list all councils nationally by their proportion of residents aged at least 65, the first capital city area listed is Holdfast Bay in Adelaide with 23.1% of its residents at least 65 years old.
“Council areas within New South Wales and South Australia also dominate the list with each of these states having 13 entries on the list.”
<a href="https://www.propertyobserver.com.au/images/2017/08/31/Screen%20Shot%202017-08-31%20at%2010.08.51%20am.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/2017/08/31/Screen%20Shot%202017-08-31%20at%2010.08.51%20am.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/08/31/Screen%20Shot%202017-08-31%20at%2010.09.16%20am.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/2017/08/31/Screen%20Shot%202017-08-31%20at%2010.09.16%20am.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/08/31/Screen%20Shot%202017-08-31%20at%2010.09.25%20am.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/2017/08/31/Screen%20Shot%202017-08-31%20at%2010.09.25%20am.jpg" alt="">
A further feature of Top 50 retiree area analysis is that these particular retiree-centric council areas tend to have significantly lower median house values than the individual state capital city housing markets.
Mr Kusher said, “This could be due to retirees moving to areas where housing is more affordable in order to free-up capital for them to enjoy their retirement, it could also be out of necessity due to the high cost of housing within most capital cities.
“The locations are also likely to be linked to lifestyle preferences, with a large number of the top council areas located in regional coastal areas.”
Looking at the value growth performance for houses across these top 50 regions, the data shows that generally the rate of growth has been lower than that of the larger capital cities. 31 of the 50 council areas listed have seen house values rise over the past year.
A two bedroom house at <a href="https://www.realestate.com.au/property-other-vic-queenscliff-126250406" target="_blank">43 Hesse Street</a>, Queenscliff (above) has been listed for between $1.1 million to $1.2 million.
The property last sold in 2013 for $800,000.
A three bedroom house at <a href="https://www.realestate.com.au/property-house-vic-queenscliff-125950502" target="_blank">4 Beach Street</a>, Queenscliff (below) has been listed for between $850,000 to $920,000.
It last sold for $732,000 in 2015.
<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/2017/09/04/4%20Beach%20Street.jpg" alt="">
A two bedroom unit at <a href="https://www.realestate.com.au/property-apartment-vic-queenscliff-125006542" target="_blank">16/30-32 Hesse Street</a>, Queenscliff (below) has been listed for between $350,000 to $385,000.
<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/2017/09/04/16_30-32%20Hesse%20Street.jpg" alt="">
Another two bedroom unit at <a href="https://www.realestate.com.au/property-apartment-vic-queenscliff-125456486" target="_blank">1/42 Gellibrand Street</a>, Queenscliff (below) has been listed for sale.
It last sold in 2009 for $1.65 million.
<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/2017/09/04/1_42%20Gellibrand%20Street.jpg" alt="">
Cameron Kusher is research analyst for CoreLogic. You can contact him <a href="https://blog.corelogic.com.au/about/" target="_blank">here</a>.
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jonathanchancellor-7SQnKwU6yx

Queenscliff ranks atop the 50 most popular retirement regions in Australia: CoreLogic

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One of Australia's most successful artists David Bromley and fashion designer wife Yuge have listed their Daylesford home.
The couple have been splitting their time down south between their Victorian country retreat and their home in Prahran.
The <a href="https://www.realestate.com.au/property-house-vic-hepburn+springs-126276294" target="_blank">early 1900s dwelling</a> is a character-filled family home, with their creative touch unmissable in the listing photos. 
It once had 13 bedrooms off its long central hallway, but now it comes with seven.
It sits on 2,200 sqm of parklike grounds. 
<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/2017/09/04/131%20Main%20Road.jpg" alt="">
Hockingstuart Daylesford agents Nathan Skewes and Glenda Rozen are asking $1.7 million for the home that for three decades had been a care home for dementia patients.
The Bromley's bought the home for $750,000 in 2013 when they were living in Byron Bay. 
Bromley retains warehouse space in the town some 120 kilometres north west of Melbourne. 
This article first appeared in the Weekend Australian Mansions Australia section. 
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Artist David Bromley lists Daylesford retreat

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<div>The Reserve Bank of Australia (RBA) reported credit growth of +5.3 per cent over the year to July 2017, a fair bit slower than the +6.6 per cent seen a year earlier. </div>
<div> </div>
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<div> </div>
<div>The slowdown has partly been a reflection of business credit growth ambling along at an annual rate of +4.2 per cent, although surveys suggest that business investment is set to gather a bit of momentum. </div>
<div> </div>
<div>Growth in credit relating to housing market investors has slowed a touch to +7.4 per cent, now well under the 10 per cent cap, with more slowing to come based on recent monthly figures.</div>
<div> </div>
<div>Owner-occupier credit growth is still powering along, though, and total housing credit growth is still a sprightly +6.6 per cent, unchanged from a year earlier.</div>
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<div> </div>
<div>Personal credit growth remains negative, as consumers tend towards mortgage buffers and offset accounts instead of of credit cards and personal loans. </div>
<div> </div>
<div>Shifts at the margin</div>
<div> </div>
<div>There's no doubt that it's become more difficult at the margin to gain access to housing credit, particularly for investor loans, and most especially for interest-only mortgages. </div>
<div> </div>
<div>The growth in investor loans is now well below the regulatory 10 per cent cap for each of the major banks, which between them account for most of the mortgage market. A couple of minnow lenders have been pinged with a speeding ticket, including the tiny Heritage Bank, so they'll be putting investor loans in the sin bin, perhaps for a month or two. </div>
<div> </div>
<div>But on the flip side, there's plenty of potential for most of the main lenders to loosen standards again for investment loans as we head into spring and beyond. </div>
<div> </div>
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<div> </div>
<div>Moreover, while APRA's latest ADI monthly statistics hinted at a marginal slowdown, the reality is that non-standard loans have to some extent been picked up by alternative lenders such as Pepper and their ilk. </div>
<div> </div>
<div>The RBA's figures show that over the year to July 2017 the total stock of outstanding housing credit increased by $113 billion to $1.69 trillion. In dollar value terms, this is the biggest annual increase ever recorded.</div>
<a href="https://www.propertyobserver.com.au/images/2017/09/04/RBA1.jpg" target="_blank">Click to enlarge</a>
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<div class="separator"> </div>
<div>So, there may be a 'slowdown' of sorts underway, if you will, but as the above chart shows it looks like a shift in composition too.</div>
<div> </div>
<div>Moreover, every single one of the main lenders continues to increase its stock of mortgages outstanding, even if there has been a move towards home loans and away from investor loans. </div>
<a href="https://www.propertyobserver.com.au/images/2017/09/04/APRA.jpg" target="_blank">Click to enlarge</a>
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 The wrap 
<div>Some one-track observers have noted that out of cycle rate hikes has crashed or destroyed demand for mortgage debt.</div>
<div> </div>
<div>I'm not sure what data source they're using to draw that conclusion - none, most likely - but the official RBA figures shows a record annual increase in housing credit, with a slowing in investor credit just beginning to flow through to the annual data.</div>
<div> </div>
<div>Experiences elsewhere in the world have shown that macroprudential measures tend to be effective for a while before borrowers and lenders find ways to get transactions happening again.</div>
<div> </div>
<div>The reality is that, in aggregate, interest rate differentials have only slowed lending slightly at the margin to date, while simultaneously boosting the bottom line and equity of gleeful banks. Out of cycle rate hikes were certainly never about funding costs, with the cost of wholesale debt barely having broken a decade-long downtrend.</div>
<div> </div>
<div>What would genuinely change the landscape would be a statement of intent from the RBA in the form of a hike in the cash rate, but in all likelihood that remains far away. 
</div>
<div>In the event a couple of dozen lenders have already cut their mortgage rates since the beginning of July, most notably Westpac, in anticipation of the spring selling season. With the trend unemployment rate declining to its lowest level in more than four years and further improvements expected over the next few ahead by the RBA, it will be intriguing to see how claims of a 'perfect storm' and 'record mortgage stress' are reconciled with what's actually happening on the ground. I say that because it looks suspiciously as though mortgage default rates are refusing to rise from benign levels outside Western Australia. Naturally, household cash flows may appear weaker if accelerated mortgage repayments have become the norm. But the statistics show that although wages growth has been weak, the unemployment rate has been falling, and underutilisation is declining in volume terms. Genuinely, I'm intrigued to watch what the media will report having run so hard with the unprecedented mortgage stress meme. Not everyone agrees with the improving economy thesis, mind. Westpac sees the pullback of Chinese apartment investors leading to a sharp slowdown in residential construction and unemployment heading back towards 6 per cent next year. Watch, this, space!!!</div>
<div> </div>
<div>
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank">Four Green Houses and a Red Hotel</a>.
</div>
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The record year for house lending: Pete Wargent 

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One-third of commercial property deals in the first half of 2017 involved offshore money, according to latest figures from commercial real estate firm CBRE.
However, there was a decline in the volume of transactions as prices increase, prompting a standstill between owners and would-be buyers.
Australia was the top destination for cross-border capital in CBRE's latest survey on investor intentions.
Commercial property deals – across the hotel, office, industrial and retail property sectors – were at $10.8 billion in the first half of the year, compared to a year earlier when total sales were $15.6 billion. 
"Foreign investment still accounted for approximately one-third of all activity in Australia's commercial property sector, with demand for assets remaining strong given the higher yields and strong fundamentals demonstrated by the Sydney and Melbourne markets," CBRE research chief Stephen McNabb was quoted as saying by The Australian Financial Review.
About $2 billion Asian capital was directly invested into the local commercial real estate market in the first half, CBRE figures showed, a fall of 25 per cent from a year earlier.
But it fell less slowly than the overall drop, with transaction volumes down by 37 per cent.
The fall in investment activity was due to a lack of available stock rather than a decline in buyer interest, said McNabb.
Outlining the preference for Australian assets, he said in April a Hong Kong investor bought the Australian Securities Exchange headquarters at 20 Bridge Street in Sydney for a record yield – below 4.5 per cent – for more than $330 million
In June, Singapore's Keppel REIT outlaid $348 million to take a half stake in a new police headquarters in the Melbourne CBD.
He said Asian appetite was holding up into the second half as well, with Mirvac selling a half stake in a landmark Collins Street office development in Melbourne to Singapore's Suntec REIT for $414 million.
"At this stage of the yield cycle, which is nearing its peak in Australia's major markets, and with a reasonable immediate outlook for rent growth, there isn't a compelling reason to sell assets," McNabb said.
"From an investment perspective, assets remain eagerly sought after and this is evident in further yield compression across all assets classes nationally in the first half of 2017."
Around $US45.2 billion of Asian outbound capital was directly invested into global property in the first six months of 2017, up 98.4 per cent on the $US22.8 billion in the first half of 2016.
However, a slowdown in Chinese investment offshore is expected as the government there restricts the flow of outbound capital.
 
 
 
 
 
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Foreigners net one-third of commercial property deals in first half of 2017: CBRE

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Royce Hotel, that originated out of Melbourne's first Rolls-Royce prestige car dealership, has been listed with expectations of more than $60 million.
The 100-room Royce Hotel on St Kilda Road on the city fringe along with a four-level office building are being offered for sale by its Melbourne private owners and operators, the Bursztyn family.
The hotel’s 1920s art deco facade is a reminder of its origins as Melbourne's first Rolls-Royce prestige car dealership. 
They have been owned by the Bursztyn family since 2000. The family developed the hotel out of the old car showroom, retaining many of its heritage elements including its chandeliers, leadlight windows and ornate ceilings, according to The Australian Financial Review.
The office building includes a permit for another 67 hotel rooms.
 <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/2017/08/31/Royce2.jpg" alt="">
The five-star hotel has 100 guest rooms and suites,besides the award-winning dish Restaurant, the amberoom bar, conferencing and event facilities, a gymnasium and 25 undercover car spaces.
The listing agents are Dan McVay and Sam McVay of McVay Real Estate Australia, a boutique commercial real estate agency that focuses purely on the sale of major assets. 
The hotel is being marketed via an international expressions of interest campaign.
"The Royce Hotel has been privately managed as a standalone hotel since its opening in 2000 and now provides the opportunity to introduce branded hotel management to further improve both the sales distribution networks as well as creating cost efficiencies," Dan McVay was cited as saying by the AFR.
"A number of the hotel rooms used to be car service bays.” 
He added that the potential to add another 67 rooms was an added enticement with a 100-room hotel "right on the edge" of the scale buyers sought. "Every extra room added will go straight to the bottom line," he said.
The site area is 2,164 sqm. 
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Melbourne’s Royce Hotel listed with $60 million hopes

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Canberra is the third most expensive capital to purchase a unit, according to CoreLogic’s latest report.
The property data firm says that units in Canberra have a median price of $415,000.
This is cheaper than Sydney’s median unit price of $695,000, but is more expensive than Hobart’s $273,500.
<a href="https://www.propertyobserver.com.au/images/2017/08/28/Screen%20Shot%202017-08-28%20at%201.23.21%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/2017/08/28/Screen%20Shot%202017-08-28%20at%201.23.21%20pm.jpg" alt="">
Canberra is also the third most expensive place to purchase a house with the median price sitting at $605,000 compared to Sydney’s $875,000 or Hobart’s $385,000.
A three bedroom unit at <a href="https://www.realestate.com.au/property-apartment-nsw-queanbeyan-125807802" target="_blank">10/43 Anthill Street</a>, Queanbeyan (above) has been listed for between $410,000 to $425,000.
Built in 2006 it last sold for $405,000 in 2016.
A one bedroom unit at <a href="https://www.realestate.com.au/property-apartment-act-kingston-125389850" target="_blank">50/29 Dawes Street</a>, Kingston (below) has been listed for $410,000.
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Canberra third most expensive capital to purchase units: CoreLogic

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Benowa Village Shopping Centre on the Gold Coast is on the market through an expressions of interest campaign closing 5 October.
Coles Supermarkets Australia listed the property through JLL.
The centre was built in 2016 and features a Coles supermarket, McDonalds drive through, Coles Express service station and 13 specialty stores.
Sam Hatcher, JLL Director of Retail Investments said the centre contains the largest supermarket in the Main Trade Area, allowing it to capitalise on the considerable forecast population growth and retail expenditure in the trade area.
“We see growth in the retail spend and rental profile being realised through a large population of almost 41,000 in the Main Trade Area, projected to grow strongly at 1.5 percent to just under 50,000 persons by 2030,” he said.  
“ The Gold Coast has traditionally had an undersupply of full line supermarkets; as prime development sites have been absorbed by high density residential developments. This further highlights the dominant outlook for Benowa Village.”
JLL’s Jacob Swan said that neighbourhood shopping centres remained tightly held with only 28 transactions recorded nationally in 2017 to-date (totaling $893 million), compared with 65 in 2016 ($1.6 billion).  
“Queensland has had a disproportionately high level of activity relative to the other states," he said.
"Interestingly, of the 28 neighbourhood shopping centre transactions that have occurred this year, 14 have been in Queensland compared with only nine in Sydney and just four in Melbourne, highlighting investor confidence within Queensland’s retail market. 
“Given the shortage of available investment opportunities in New South Wales and Victoria, interest in Queensland assets has grown significantly.
"There is strong pent-up demand for prime neighbourhood centres so we anticipate considerable domestic and offshore interest for this centre.”  
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Benowa Village Shopping Centre, Gold Coast, listed for sale

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AccorHotels will take over the management of Crowne Plaza Adelaide and rebrand the hotel to Pullman Adelaide.
The change comes into effect 1 October 2017.
The hotel, 16 Hindmarsh Square has 308 guestrooms, restaurant and bar as well as meeting room facilities. It will become AccorHotels’ 15th Pullman hotel in Australia. 
Simon McGrath, Chief Operating Officer of AccorHotels Pacific, said for some time we have been looking to bring the Pullman brand to South Australia, and through our relationship with the Hines Property we are thrilled to be operating Pullman Adelaide.
 
“We are very proud to be partnering again with Hines Property to bring such a prominent, well respected brand to the city of Adelaide which continues to see strong levels of tourism growth, thanks to strong leadership by the Weatherill government and investment in infrastructure,” he said. 
“Pullman is now the fastest growing upscale brand in Asia Pacific and over the last three years, our Australian network of Pullman hotels has grown 77 percent.
"With the strength of our distribution and loyalty platform, we are excited to be growing our network in Adelaide and giving our guests even more reason to travel to South Australia.
James Hines, Managing Director of Hines Property said partnering with AccorHotels and the Pullman brand will enable the hotel to move from a 4.5-star offering to 5 stars.
“We have already forged a fantastic local partnership with AccorHotels through their management of Hines Property’s award-winning ibis Adelaide, so we’re really pleased to now be able to build on this relationship through the Pullman brand and further enhance the hotel as one of Adelaide’s finest,” he said. 
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AccorHotels take over Crowne Plaza Adelaide management, announce rebrand

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Shopping mall owner Scentre Group said it was working on a development pipeline of $900 million on projects in Perth, Melbourne and the Gold Coast, which includes the greenfield development at Westfield Coomera (above).
The others are Westfield Carousel in Perth and Westfield Plenty Valley in Melbourne.
The Westfield Shopping Centre owner expects returns in excess of 15%, it said during the half-yearly results announcement.
“Our announcement of the $470 million (SCG share: $235 million) development at Westfield Coomera (above), our first greenfield development in more than 12 years, reflects our commitment to growing the business, improving the quality of our portfolio and meeting customer and retailer needs,” said chief executive Peter Allen in an earnings release.
The new 59,000 square metre regional centre will comprise Coles and Woolworths supermarkets, an Event Cinemas complex including Gold Class, Kmart and Target discount department stores, and 140 specialty stores including an alfresco leisure and dining precinct.
The group also completed the $355 million development at Westfield Chermside, which includes a new fashion galleria over two levels establishing Chermside.
Adjacent to the galleria is the new entertainment, dining and leisure precinct, with 25 new restaurants and cafes and a laneway with a village atmosphere. 
The redevelopment is expected to add more than $300 million in retail sales and is forecast to exceed expected returns, creating significant long-term value for shareholders. 
Among current developments, Westfield Whitford City is on track to open in September.
Scentre reported funds from operations (FFO) grew to $638 million for the six months to June 30 and said it was on track for a full-year growth of nearly 4.25%.
The FFO figure represents 12.01 cents per security, up 3.5% and distribution of 10.86 cents per security, up 2%. 
Excluding the impact of transactions, FFO growth would have been nearly 5%, Scentre said.
Net operating income increased 2.6% for the six months, driven by contractual rent increases. The group, which owns Westfield Shopping Centres, maintained its forecast range of 2.75% - 3.0% growth for the full year.
Interestingly, fast-food franchisee SumoSalad was locked in a rental dispute with landlord Westfield recently, and was close to negotiating lower rents through its tactic of insolvency laws.
The Scentre Centre group owns and operates 39 Westfield shopping centres, including 16 of the top 25 performing centres in Australia with assets under management of $47.4 billion, it said.
For the six months, profit was $1.4 billion, which included $929 million of revaluation gains driven by growth in operating income across the portfolio and the completion of the Westfield Chermside redevelopment.
Comparable specialty sales in the portfolio grew 2% for the twelve months and 1.5% for the six months to 30 June 2017, with average specialty sales increasing to $11,250 per square metre. Strong sales growth was seen in the food retail, food dining, technology &amp; appliances and retail services categories.
“The portfolio’s high specialty sales productivity ensures strong demand from retailers wanting to generate growth in sales and customer engagement,” Allen said.
The portfolio remains more than 99.5% leased.
The group announced that it will extend its current practice to grow distributions at a lower rate than earnings growth until it reaches a payout ratio at 85% of FFO. The distribution is targeted to grow at 2% per annum until the target payout ratio of 85% is achieved. Once this target is achieved the distribution is expected to grow in line with FFO growth. 
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Scentre Group lines up $900 million Westfield centres in Gold Coast, Perth and Melbourne 

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A restaurant in Melbourne's Camberwell sold after the auction recorded 290 bids and set a benchmark yield for a retail property in the blue-chip suburb of 2.34 percent.
The sale of the restaurant, Tandoori Den at 261 Camberwell Road, Camberwell to a private investor for $2.509 million reflected a land rate of $12,400sqm.
Fitzroys agent David Bourke said five bidders competed at the auction after the campaign received strong enquiry from local and offshore buyers.
“There is an estimated 1,500 new apartments about to come online or in the pipeline around Burke Road and Camberwell Junction, with a new 12-storey apartment tower near Aerial the latest development to be approved," he said.
The 180sqm part-two storey building is on a 202sqm site and sold with a secure 5+5+5+5-year lease at a building rate of $13,939 per sqm.
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