<a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a> is preparing to commence construction on <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> this October, marking the next milestone for the Melbourne CBD development and its higher-end Eliza Collection.

Spanning levels 44 to 68 of the 68-storey <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed tower, the Eliza Collection has been conceived as a lower-density offering within the broader development, with only five apartments on each floor, dedicated lift access and a collection of resident spaces reserved exclusively for Eliza Collection residents.

The Eliza Collection forms part of Far East Consortium's broader move toward larger-format residences at 640 Bourke Street, where the number of apartments was reduced from earlier plans as apartment sizes increased.

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"What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Far East Consortium Director of Sales and Marketing Lauren Sheldon said.

Rothelowman Associate Jun Chang said the design process provided an opportunity to create more generous floorplans.

"We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."

[smartcode_project:default project_id=509 project_image_fid=368869]

That thinking carries through to the Eliza Collection, where the residences have been designed around the space and functionality associated with a larger home, but positioned high above the centre of Melbourne.

Kitchens are equipped with Gaggenau appliances, a butler's pantry, temperature-controlled wine cabinet and sculptural pendant lighting, while engineered timber flooring, stone and porcelain finishes and custom cabinetry feature throughout the broader interiors.

Privacy and security are another point of distinction. Eliza Collection residents have dedicated lift access, while 640 Bourke Street will provide concierge services and secure resident parking. Short-stay accommodation, including Airbnb, will not be permitted within the development.

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Eliza Collection residents will also have exclusive access to selected amenity spaces across levels one and three of the restored Eliza Tinsley building. These include the Salon with grand piano, an art therapy room, private dining rooms and treatment rooms.

They sit within more than 3,000 sqm of amenity planned across 640 Bourke Street, alongside facilities including a pool, gym, whisky lounge and further social and wellness spaces.

The Eliza Tinsley building itself is central to the wider project's identity. Rather than treating the existing Eliza Tinsley façade as a separate element, Rothelowman used it as a starting point for the architecture of the new tower, with the historic building to accommodate the project's gallery and lobby.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

[smartcode_project:default project_id=509 project_image_fid=368872]

The tower will rise behind the retained heritage building at 640 Bourke Street, placing residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market and the Docklands waterfront.

With construction scheduled to begin in October, Far East Consortium has established an onsite display gallery at 640 Bourke Street, including fully built apartments that allow the project's layouts, materials and finishes to be inspected at full scale.

A fully built Eliza Collection apartment is also available to view at the display suite by appointment ahead of the planned October construction commencement.

Eligible purchasers who buy before construction commences can secure the full available off-the-plan stamp duty savings, subject to eligibility and applicable conditions.

[smartcode_project_cta:default project_id=509]

Joel Robinson

Far East Consortium brings Eliza Collection to 640 Bourke Street ahead of October construction start

By the time S&amp;S Projects began planning <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia</a>, the developer already had three Rainbow Bay projects from which to draw.

Flow, Awaken and Esprit had given <a href="https://www.apartments.com.au/developers/ss-projects">S&amp;S Projects</a> experience developing in the southern Gold Coast enclave, as well as buyer feedback that could be carried into its fourth project, a boutique collection of 38 residences at 271 Boundary Street.

“We have experienced a lot of success in this location and as this was our fourth building we had taken all of the learnings and buyer feedback from previous projects to arrive at a design and apartment mix that we believe had captured all of that experience and remained a true S&amp;S Project in its design and amenity,” the developer said.

That experience has translated into a collection of two, three, four and five-bedroom residences including two penthouses positioned on an elevated corner in Rainbow Bay, where the site opens to multiple coastal view corridors and the area's distinctive north-facing bay.

[smartcode_project:default project_id=140491 project_image_fid=284542]

S&amp;S Projects says the Boundary Street site took years to assemble, having previously comprised six units, a house and a duplex. The developer worked individually with the existing owners to bring the properties together after an earlier attempt to sell the site had been complicated by the number of parties involved.

“We are constantly looking for properties that meet our brand standards of location, views, and sites that are rare with unique aspects that we can develop to maximise the lifestyle of residents who live in our buildings,” S&amp;S Projects said.

The Boundary Street site gave <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a> a different set of conditions to work with.&nbsp;

“Our design brief was to design a building that took advantage of its unique elevated corner siting offering a range of spectacular view corridor opportunities,” Cottee Parker said.

“The design had to reinforce the strong brand pillars of S&amp;S which are quality, luxury and superior resident amenity.”

[smartcode_project:default project_id=140491 project_image_fid=284543]

Cottee Parker responded with a sculptural floorplate and strong horizontal banding, with continuous balconies and landscaped planters wrapping the building. Operable screens along the balcony edges allow residents to manage light and shade while creating an additional layer of pattern across the facade.

The tower rises above a heavily landscaped podium incorporating the entry lobby and recreational level, while the broader architectural expression takes cues from Rainbow Bay's coastal environment through its organic forms and light material palette.

Cottee Parker says the design has also been developed to complement S&amp;S Projects’ three previous Rainbow Bay developments while retaining its own architectural identity.

Inside, the residences continue that coastal response through two interior schemes centred on warm timbers and neutral tones, alongside patterned natural stone and fluted detailing.

Floor-to-ceiling sliding glass doors connect open-plan living areas to wraparound balconies, while natural stone is used across benchtops, splashbacks and bathroom walls. Specifications also include light-washed timber flooring, gas fireplaces, integrated bar and wine fridges, freestanding stone baths and 100 per cent wool carpet.

[smartcode_project:default project_id=140491 project_image_fid=284559]

Cottee Parker Director Sandra Brown said the intention was to create an architectural response closely connected to its surroundings.

“Imagine architecture that breathes with the rhythm of nature, where every curve and line flows seamlessly – creating spaces that dance with the elements, where sunlight kisses every surface and the gentle sea breeze fills every space,” Brown said.

The lessons S&amp;S Projects carried into Radia also extend to its resident amenity, with a substantial collection of shared facilities planned for just 38 residences.

A dedicated Residents Club will include a lap pool and spa, gymnasium, ice bath, sauna, steam room and hot rocks sauna. A residents' lounge, private dining room, outdoor dining and barbecue area and business centre are also planned, along with storage and dedicated surfboard and beach lockers.

S&amp;S Projects Founding Director Paul Gedoun said the facilities were also designed around the project's Rainbow Bay setting.

“Each amenity is designed to capitalise on the lifestyle of Rainbow Bay, ensuring residents can enjoy the relaxed coastal experience the enclave is famous for,” Gedoun said.

[smartcode_project:default project_id=140491 project_image_fid=284555]

<a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a> says purchasers to date have predominantly included local downsizers, interstate lifestyle investors and families, alongside a strong contingent of repeat S&amp;S purchasers.&nbsp;

According to the project sales team, feedback has centred on the natural stone and joinery, generous floorplans, natural light and the ability for residences to capture views in multiple directions. The completed Flow, Awaken and Esprit developments have also provided prospective purchasers with an existing reference point for S&amp;S Projects' delivery in Rainbow Bay.

There has also been interest from high-profile surfers and people connected to the surf community, with the elevated building providing outlooks towards several of the area's recognised surf breaks.

Radia continues S&amp;S Projects' concentration of development in a tightly held part of the southern Gold Coast, close to Rainbow Bay Beach, Snapper Rocks, Duranbah Beach, Greenmount Beach and the Tweed River. The neighbourhood also includes a growing collection of hospitality venues, while Coolangatta Airport provides connections beyond the southern Gold Coast.

Hutchinson Builders is now delivering Radia, continuing the project from early works privately funded by S&amp;S Projects. The $250 million development is expected to reach completion in the third quarter of 2027.

“With our history in Rainbow Bay, we have been fortunate to be heavily involved in how the development landscape has unfolded and this project slides into the property landscape comfortably and will feel like it was always there,” the developer said.

[smartcode_project_cta:default project_id=140491]

How three Rainbow Bay projects shaped S&S Projects' fourth, Radia

Nearly 40 years after <a href="https://www.apartments.com.au/developers/sheida-group">The Sheida Group</a> began working on the northern Gold Coast, the family-owned developer is continuing its involvement in Hope Island with Marina Point Apartments, where apartment scale has been a central part of the development.

Across the 235-apartment waterfront community, the developer has prioritised larger floorplans, substantial open space and marina access, responding to a purchaser base that has predominantly comprised local owner-occupiers and downsizers moving from larger homes.

"Having already delivered Anchorage nearby, we also understood this particular market and how people live here," developer Rick Sheida said.

"<a href="https://www.apartments.com.au/new-apartments/marina-point-apartments-hope-island-66-view-line-terrace-hope-island-qld-4212">Marina Point&nbsp;Apartments</a> gave us the opportunity to build on those lessons and create the next evolution of our work in Hope Island."

[smartcode_project:default project_id=136992 project_image_fid=293151]

The Sheida Group acquired the Marina Point land around 2018. Its appeal, Sheida says, went beyond having a waterfront address.

"What attracted us was not simply that the site was waterfront, but the way it meets the water," he said.

"It sits at the junction of broad waterways, creating long sightlines, changing views and a sense of movement throughout the day. Its shape also allowed us to orient the buildings outward, improve privacy between residences and make better use of natural light and breezes."

The buildings have subsequently been positioned around the perimeter of the site, allowing most apartments to take in water views while others look across the resort amenity or hinterland. Once all four buildings are complete, approximately one hectare of the site is expected to remain as open space.

The waterfront also provides the potential for up to 50 marina berths, with berths ranging from 15 to 24 metres and options designed to accommodate wider vessels including catamarans. Access from the marina to the Gold Coast Seaway is bridge-free.

[smartcode_project:default project_id=136992 project_image_fid=293149]

The developer says purchasers to date have predominantly been owner-occupiers and downsizers from <a href="https://www.apartments.com.au/new-apartments/marina-point-apartments-hope-island-66-view-line-terrace-hope-island-qld-4212">Hope Island</a> and elsewhere on the Gold Coast, generally aged between 45 and 70. Many have sold larger family homes or properties requiring significant upkeep.

That purchaser profile informed a design brief centred on retaining the space and functionality of a larger home within an apartment format.

"Many of our buyers are coming from large, well-appointed homes in Sanctuary Cove and the surrounding area," the project team said.

"They are accustomed to generous spaces and thoughtful design, so it was important that the apartments delivered the same sense of comfort and functionality.

"Every room needed to feel well proportioned, every space needed a clear purpose and nothing could feel compromised."

Residences range from 139 sqm through to 319 sqm penthouses, with two car spaces provided to apartments and three to penthouses. Minimum 2.7-metre ceilings, floor-to-ceiling glazing, entertainer's kitchens with butler's pantries, substantial storage and balconies ranging from 18 sqm to 37 sqm further reflect the emphasis on space.

One purchaser from Sanctuary Cove has taken the concept further, combining two of Marina Point's largest apartments to create a 552 sqm residence with raked ceilings reaching up to 4.5 metres.

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With Building 1 now complete, the developer is also seeing its original design assumptions tested against purchaser feedback.

Three completed display residences allow prospective purchasers to compare apartment sizes, layouts, finishes and outlooks in person. The sales team says one of the most consistent responses has been to the scale of the apartments, with visitors describing them as feeling more like homes than conventional apartments.

The first stage of resident amenity is also operational, including a 25-metre heated lap pool, Technogym-equipped gym, infrared sauna, golf simulator and yoga room. Future facilities are set to include a resort-style pool and spa, waterfront barbecue area and a residents' lounge with a library, fireplace, pool table, kitchen and bar.

Rather than treating the four buildings independently, the design brief called for a complete waterfront neighbourhood, balancing private residences with landscaping, open space, marina access and shared amenity.

[smartcode_project:default project_id=136992 project_image_fid=293152]

For Sheida, Marina Point Apartments is ultimately an extension of the developer's longer-term involvement in Hope Island and its view of how the suburb is evolving.

"We were equally interested in the long-term future of Hope Island," he said.

"Its position between Brisbane and the central Gold Coast gives residents access to both, while improving transport connections are making the northern Gold Coast increasingly attractive as a permanent place to live."

Hope Island Marketplace is 1.3 kilometres from Marina Point, while Sanctuary Cove and Paradise Point are within six kilometres. Links Hope Island, The Pines and The Palms golf courses are also nearby, and the new Hope Island train station is under construction around five kilometres from the development.

Building 2 is under construction, with completion scheduled for 2027.

[smartcode_project_cta:default project_id=136992]

Marina Point Apartments continues The Sheida Group's 40-year Hope Island story

Sydney-based fund manager and developer EG is seeking to turn part of the former Roche pharmaceutical campus in Cromer into a 130-home residential community, introducing a mix of low-rise apartments, townhouses and duplexes to the tightly held Northern Beaches market.

The SJB-designed masterplan has been prepared for the 3.2-hectare site at <a href="https://www.apartments.com.au/new-apartments/100-south-creek-road-cromer-nsw-2099">100 South Creek Road</a>, part of the former Roche landholding that EG acquired for $55 million in 2017 through its Yield Plus Infrastructure Fund No. 2.

EG is proposing what SJB describes as a new "urban village" set within the site's significant existing tree canopy.

<img alt="Cromer" data-entity-type="file" data-entity-uuid="482c9a58-49f1-4c53-a12e-aaa02336229f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-24%20at%2011.20.57%E2%80%AFAM.png?VersionId=hZP8_XfPnfNq500dbcjlpVwYU1ebhF9_" />

Around three hectares of the site is considered developable, with the balance incorporating a riparian corridor that would be rehabilitated and revegetated as part of the proposal.

The indicative masterplan comprises approximately 72 apartments in low-rise residential buildings and another 58 townhouses and duplexes.

The apartment component would include around five one-bedroom, 37 two-bedroom and 30 three-bedroom residences, while the townhouse and duplex component would be spread across several different housing typologies. The overall scheme would deliver around 19,500 sqm of gross floor area at an FSR of 0.6:1.

Parking for the apartment component is currently estimated at around 112 resident spaces and 14 visitor spaces, while the townhouse and duplex component would have 116 resident and 12 visitor spaces.

A significant part of the masterplan revolves around retaining the established landscape character of the former Roche campus.

SJB's plans show heavily treed setbacks along both Campbell Avenue and South Creek Road, a centrally located collection of significant native and exotic trees retained as communal open space, and the regeneration of the northern bushland area.

The existing creek corridor along the site's western edge would also be rehabilitated and revegetated, creating additional separation between the new homes and the neighbouring Northern Beaches Business Park.

A heritage-listed cottage and its garden setting would be retained and restored, with SJB flagging its potential adaptive reuse as communal space.

The proposal also includes new communal recreation areas, pedestrian connections to Campbell Avenue and South Creek Road, and a contribution toward improvements to the adjoining Michele Reserve.

Vehicular access would be restricted to South Creek Road, with no vehicle entry proposed from Campbell Avenue. The main internal road would largely follow the site's existing driveway to minimise the impact on established trees.

SJB said residential redevelopment presented an opportunity to retain the majority of the site's heritage-listed mature trees while delivering a broader range of housing types than typically seen across the Northern Beaches.

"The site being 3.27 hectares in area represents one of the largest vacant sites in common ownership in the Cromer and Dee Why area capable of residential renewal," SJB noted in the masterplan.

The architect said the proposal would particularly target housing diversity through townhouses and other "missing middle" typologies suitable for singles, young families, downsizers and retirees.

<img alt="Cromer" data-entity-type="file" data-entity-uuid="e3f5d841-8491-427e-8ada-c70d3d03d6bc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-24%20at%2011.21.02%E2%80%AFAM.png?VersionId=xTV7r.q8lrTzC9vKzMS9zMbjm9wKwhgm" />

The site emerged following the subdivision of the former Roche campus into eastern and western parcels.

EG has already transformed the western portion into the Northern Beaches Business Park, which incorporates heritage-listed office space, modern warehouses and indoor recreation facilities.

The proposed residential community, referred to as Cromer East in SJB's plans, adjoins established housing to the north, east and south-east, while the business park sits beyond the creek corridor to the west.

It is also within 250 metres of Pittwater House School and Northern Beaches Secondary College, while bus stops within a three-to-five-minute walk provide connections to Dee Why, Brookvale and express services to the Sydney CBD. Cromer Park and the South Creek open space corridor are also nearby.

EG acquired the broader 7.5-hectare former Roche campus in 2017 for $55 million through its Yield Plus Infrastructure Fund No. 2. The campus at the time comprised more than 25,000 sqm of industrial and office buildings set within landscaped grounds.

The current residential site represents the eastern portion of that original holding.

EG's investment strategy for the fund has centred on acquiring income-producing real estate with longer-term rezoning and repositioning potential, particularly assets benefiting from infrastructure and changing land-use patterns.

EG also has an established residential track record across Sydney, including Bosco in Five Dock, Tempo in Drummoyne, The Flour Mill in Summer Hill and Pindari in Randwick.

The developer says it has delivered more than 1,000 homes to date, with a further 3,000-plus residences across its development pipeline.

First look: EG plans 130 apartments on former Roche pharmaceutical campus in Cromer

<a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> has lodged plans for a $750 million, three-tower mixed-use precinct that would complete the long-running redevelopment of Carlton's former Carlton United Breweries site.

The proposal at <a href="https://www.apartments.com.au/new-apartments/185-195-queensberry-street-carlton-vic-3053">46-78 Bouverie Street and 185-195 Queensberry Street</a> spans a 6,468 sqm site, the last remaining undeveloped parcels within the former brewery's 2007 masterplan.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the development will comprise two purpose-built student accommodation towers and a third build-to-sell apartment tower above a shared commercial podium and basement.

Across the three towers, SP Setia is proposing 606 build-to-sell apartments and 1,499 student accommodation units containing 2,009 beds.

The apartments will sit in the tallest tower, which will rise nearly 200m and 55 storeys. It will become&nbsp;one of the more substantial new build-to-sell apartment projects at the northern edge of Melbourne's CBD.

The apartment mix is weighted toward smaller inner-city product, with 188 studios, 206 one-bedroom apartments, 192 two-bedroom apartments and 20 three-bedroom apartments

<img alt="First look: SP Setia plans three-tower finale for Carlton’s former CUB precinct" data-entity-type="file" data-entity-uuid="8271bc87-1b0a-41b7-ac73-a425ee375261" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/3_2.png?VersionId=G4lw23o90B1boX4k4dj7rdz2ZEajS9wy" />

Part of the precinct will be a large-scale&nbsp;3,684 sqm supermarket and a further 2,198 sqm of speciality retail, creating close to 5,900 sqm of new commercial space within the precinct.

But one of the biggest components of the proposal is what sits between the buildings.

Around 4,650 sqm, or roughly 72 per cent of the site, will be publicly accessible open space, incorporating plazas, pedestrian connections, landscaped laneways and retail spill-out areas.

The ground plane is intended to finally complete pedestrian connections envisaged when the CUB masterplan was first approved nearly two decades ago, stitching together Victoria Street, Queensberry Street, Bouverie Street and Swanston Street through the former brewery precinct.

Urbis said the development would "complete the CUB precinct", with the public realm providing important north-south and east-west connections through what is currently the final undeveloped portion of the masterplanned site.

SP Setia is also exploring a new linear park within the Bouverie Street road reserve, with the concept to be developed further with the City of Melbourne through the planning process.

The proposal is being pursued through the Victorian Government's Development Facilitation Program under Clause 53.23 for significant residential development with affordable housing.

The planning report acknowledges the proposed heights exceed those contemplated under the original Comprehensive Development Plan and masterplan, but argues the built-form context has changed considerably over the past two decades.

Urbis said the three towers would instead create a stepped transition between Carlton and the Hoddle Grid, rising progressively from the 94.1-metre Tower One along the Queensberry Street edge to the 199.44-metre Tower Three closer to the established CBD-scale buildings to the south.

<img alt="SP Setia" data-entity-type="file" data-entity-uuid="e885a07a-592c-40fc-bf82-e6dbaf32da54" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.52.24%E2%80%AFAM.png?VersionId=7s_ErUkSKAdY1mAWp3GRZgMNCGtwhk5m" />

SP Setia plans to deliver the development across three stages.

Stage One would deliver the basement, podium and retail areas for the entire precinct alongside the first student tower. Tower Two would follow in Stage Two, before the 606-apartment Tower Three is delivered as the final stage.

If approved and delivered, the project would close out a redevelopment process that has been underway since the former brewery masterplan was approved in 2007, adding more than 2,600 student beds and apartments to a precinct already home to Swanston Central, the Barak Building, RMIT Design Hub and several large student accommodation developments.

&nbsp;

&nbsp;

SP Setia plans three-tower finale for Carlton’s former CUB precinct

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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Net effective rents in the Sydney CBD office market rose significantly in 2016 across both prime and secondary buildings and the trend is expected to continue in 2017, according to Savills. 
The property firm’s Sydney CBD Office Briefing Report highlights an improved leasing environment with strong tenant demand, stock withdrawals and falling incentives resulting in significant net effective rental growth. 
Net effective rents in the Sydney CBD enjoyed year-on-year growth in 2016 of +60% for B Grade office space, +48% for A Grade and +26% for Premium. Helping this growth were sharp drops in incentives in 2016 of -34% in dollar terms for A Grade, -26% for Premium and -25% for B Grade. Net face rents rose +28% for B Grade, +14% for A Grade and +6% for Premium. 
<a href="https://www.propertyobserver.com.au/images/2017/01/24/SydCBDofficemetrics.png" target="_blank">Click here to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/24/SydCBDofficemetrics.png" alt="">
Savills Australia national head of Research &amp; Consultancy Tony Crabb said both prime and secondary rents are rising in Sydney on the back of a shrinking pool of secondary stock. 
“The scarcity of secondary space has driven up both face and effective secondary rents and has caused a similar effect, albeit more muted, in the prime market as tenants are forced to upgrade,” he said. 
“Net effective rental growth was most pronounced due to the effect of declining rental incentives as highlighted by the 60% jump in B Grade net effective rents year-on-year. There was also a substantial increase in A Grade net effective rentals (up 48%) and Premium net effective rentals (up 26%). 
“Looking forward, we anticipate that net effective rents will continue to increase, particularly for secondary and A Grade accommodation. This will be a function of continued demand from displaced tenants, the ongoing shortage of secondary stock and the ongoing effect of declining incentives.” 
Rob Dickins, Savills Australia national head of Office Leasing, said Sydney tenants will have a modest choice of options for prime accommodation in 2017 as some backfill space becomes available. 
“We estimate approximately 102,400 sq m will be released this year, however about two-thirds of this space is pre-committed. The majority of the 21,750 sq m of new supply entering the market is also pre-committed, such as the 15,000 sq m Darling Harbour Live building which CBA will occupy. These new options will be welcome news for tenants given the likelihood of further upheaval in the secondary market in 2017,” he said 
“Secondary stock withdrawals during 2016 totalled some 39,000 sq m for residential or hotel redevelopment purposes. This has effectively forced many displaced tenants to actively compete on B Grade space or upgrade their space requirements to either A Grade or Premium, as several have done. This has created upward pressure not only on secondary rents, but also in prime rents to a lesser extent.” 
“We expect this trend to continue in 2017 as further tenants are displaced owning to the withdrawal of a further 62,900sq m of mostly B Grade space for the Sydney Metro project.” 
<img src="https://www.urban.com.au/images/2017/01/24/SydCBDrents.png" alt="">
Simon Fenn, Savills NSW managing director, said the rental growth in the Sydney CBD office market is welcome news for owners and investors. 
“Sydney A Grade and B Grade markets offer investors the opportunity of increased rental returns as we anticipate continued reduction in market incentives over the short to medium term,” he said. 
“A Grade yields tightened 75 basis points during 2016 while B Grade yields tightened significantly by 113 basis points in the course of the year. Recent rental growth and the prospect of further growth bodes well for investment yields given the implications for total returns.” 
“Investment appetite from both local and international investors for core Australian office assets remains high and continues to benefit from the spread between property income yields and long-term government bond yields. This investment environment is expected to support continued investment demand for quality Australian commercial property assets.” 
Fenn said local buyers were dominant in the Sydney CBD office market during 2016, accounting for 70% of the capital transacted. Developers made up the largest portion (25%) followed by Trusts (22%) and Funds (15%) which is consistent with the high levels of development activity currently underway in the Sydney CBD. Chinese investors claimed half of the capital invested by foreigners, with US, German and Hong Kong buyers making up the remainder. 
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Sydney office rents rose sharply in 2016, trend to continue: Savills

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A fully leased office/retail building close to Bondi Junction in Sydney has sold for nearly $17 million through CBRE.
It's been bought by interests associated with Brent Maksimovich.
The property at <a href="https://www.realcommercial.com.au/property-offices-nsw-woollahra-502009110" target="_blank">156 Edgecliff Road</a> in Woollahra went on the market last year.
According to the agents, it sold for a “record yield” over and above the vendors expectations.
The corner property was sold via a public expressions of interest campaign and the final deal was struck at $16,970,352, according to RP Data.
The building has five established tenants and generates net income of $950,000 p.a. Its net lettable area is 1,125.7 sqm with an additional 180 sqm of FSR available subject to council approval.
Designed by Tzannes, the building was completed in December 2010.
The selling agents were Nicholas Heaton and Scott Gray-Spencer of CBRE.
It previously exchanged hands in 2013 for $5,750,000, according to RP Data.
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Fully leased commercial building in Sydney's Edgecliff sells for close to $17 million

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Multiplex has completed M&amp;L Hospitality’s makeover of 161 Sussex Street in Sydney's Darling Harbour.
The former Four Points by Sheraton Sydney was rebranded recently to Hyatt Regency Sydney, marking the Hyatt Regency’s return to Sydney.
The redevelopment included refurbishment of the existing hotel, a new 3,667 square metre convention centre and a 25-level tower including 13 new hotel levels and 10 levels of A-grade high rise commercial office space.
The additional 25-storey tower has added 222 new guest rooms to what was already Australia’s largest hotel, bringing the total number of rooms to 892.
A lot of construction took place over the top of the Western Distributor Freeway, a major feeder road from the Sydney CBD to the Sydney Harbour Bridge.
David Ghannoum, regional managing director at Multiplex, said a big challenge was building over an operating freeway and in a live hotel environment and care was taken to complete the works with minimal disruption to the 80,000 vehicles using the Western Distributor daily and the 600-700 guests staying at the hotel each night.
Work started in December 2014 and took two years to finish.  
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Darling Harbour sees return of Hyatt Regency to Sydney

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Commercial property sale in the Gold Coast fell in the three months to December 2016, according to CoreLogic's Cityscope.
The property data firm says 41 sales were recorded during the period for a total of $60 million.
Of this, $21.3 million was for commercial, $11.5 million was for commercial strata, $12.9 million was for retail, $5.9 million was for retail strata and $8.4 million was for other.
In comparison, the three months to late June 2016 recorded 53 sales for a total of $99.8 million.
Of this, $34.2 million was for commercial, $12.2 million was for commercial strata, $22.8 million was for retail, $5.4 million was for retail strata and $25.3 million was for other.
The latest data raises the 12 month total to over $587.2 million, over $202.8 million lower than the previous 12 month period.
The table below shows sales recorded for the past eight updates of Gold Coast Cityscope:
<a href="https://www.propertyobserver.com.au/images/2017/01/24/Gold%20Coast-1.jpeg" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/24/Gold%20Coast-1.jpeg" alt="">
The three most significant sales recorded this quarter together totalled over $21.9 million:
<ul>
<li>KRG Centre, 9-15 Bay Street, Southport – a four-level office building with a cafe. Sold for $12 million to Lionsgate Income Fund No 1 Pty Ltd as trustee for the Lionsgate Income Fund No 1 Unit Trust. Kevin Lonard and Darrell Woodfield of First National Commercial Gold Coast negotiated the sale, which represented an initial yield of 8.3% on passing income of $996,000.</li>
<li>Windmill Centre, 130 Scarborough Street, Southport – a two-level office and retail building with frontages to both Scarborough Street and Windmill Street. Bought for $5 millionby Grand Southport Two Pty Ltd as trustee for the Lawson Unit Trust. Adam Grbcic and Tony Grbcic of Ray White Commercial GC South negotiated the sale, which represented an initial yield of 7.2% on passing income of $360,000.</li>
<li>Robina Professional Centre, 36 Laver Drive, Robina – a four-storey office building completed in late 2006. Bought for $4.925 million by RPA Properties Pty Ltd. Mason Kidman and Nick Selbie of CBRE Gold Coast negotiated the sale.</li>
</ul>
<a href="https://www.propertyobserver.com.au/images/2017/01/24/Gold%20Coast-2.jpeg" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/24/Gold%20Coast-2.jpeg" alt="">
Properties currently listed for sale include:
<ul>
<li>3286 Surfers Paradise Boulevard, Surfers Paradise – a single-level, 277 sqm restaurant building. For sale by negotiation; agent, Ray White Commercial Gold Coast (Simon Robertson).</li>
<li>8 Frigo Court, Bundall – a 2,429 sqm vacant block of land. For sale by expressions of interest; agent, First National Real Estate Surfers (Rob Rollington and Bob Rollington).</li>
<li>SteelX House, 2 Boston Court, Varsity Lakes – a four-storey office building comprised of three separate units. For sale by expressions of interest; agent, CBRE (Peter Court, Mike Walsh and Brad Duncalfe). The property was initially advertised with passing income of $1,276,140 per annum (net).</li>
</ul>
Properties currently under contract (conditionally or unconditionally) include:
<ul>
<li>46 Scottsdale Drive, Robina – a 4,719 sqm vacant block of land with approval to build the third and final stage of Easy T. Under contract; agents, Robina Marketing Australia (Marcus Weld) and Knight Frank Gold Coast (James Branch and Mark Witheriff).</li>
<li>Piazza on the Boulevard, 3197 Surfers Paradise Boulevard, Surfers Paradise – a four-level retail and commercial building. Due diligence is currently being conducted; agent, CBRE Gold Coast (Jonathan O’Brien and Scott Gray-Spencer).</li>
<li>1 Bellvue Drive, Varsity Lakes – RP1 Building, a three-storey, split-level office building. Under conditional contract; agent, CBRE Gold Coast (Jonathan O’Brien and Brad Duncalfe).</li>
</ul>
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Gold Coast commercial property sales fell in quarter ended December: Cityscope

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Come in spinner or should that be spinners?
In a property week that can only be described as unprecedented we have had the prime minister, treasurer and newly elected NSW premier all declare that they are going to tackle housing affordability.
Previously housing affordability was a bit like going to your doctor for the annual check-up where after your consultation you advise the doctor that you don’t need to see the results. For years and years, our elected politicians have refused point blank to accept any responsibility for being the actual cause of this problem.
The new premier is already stumbling and stuttering where she stated that the heart of the problem is supply so NSW must build more properties. We all know that, this is only a part of the problem, so then the remedies moved to negative gearing (a federal problem) which explains why the prime minister has been silent following his announcement that he too, will personally pursue the housing affordability issues in Australia.
Next, the premier stated that she needed to make sure that the state’s finances are in order before she considers changing stamp duty. I would refer the premier to her media release on December 15, 2016. “NSW has recorded the lowest unemployment rate of the nation for 18 consecutive months and has widened its lead over the next strongest state, the latest ABS data shows. Our unemployment rate is by far the lowest in the nation and demonstrates our economic strength.”
Of course, the premier may always wish to investigate just why in Sydney we presently have public transport considered to be amongst the worst in the world. Back in November 2012 a global survey of 27 of the most important cities in the world ranked Sydney as fourth – worst for public transport. To make matters worse the survey also identified that Sydneysiders pay more for public transport than anywhere else.
Despite that embarrassing finding where our public transport would be even worse since that survey NSW continues to attract more than 50 per cent of the residential investment spend in Australia. On top of that it was revealed this week that the Sydney median house price had climbed a further ten percent in 2016 to now sit at $1,123,991 – another new record.
<a href="https://www.propertyobserver.com.au/images/2017/01/29/Investor-Lending.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/29/Investor-Lending.png" alt="">
Most people already know the answer to Australia’s housing affordability woes – look no further than the Henry Tax Review that was commissioned back in 2008 then published in 2010 only to be ignored by elected politicians because it was too hard and significantly threatened their parliamentary pensions. The report consisted of nine broad themes with point 8 stating – “Toward more affordable housing: substantially increase rent assistance, gradually move to a uniform land tax and remove transfer taxes (stamp duty), and gradually move to a neutral treatment of rental and owner – occupied housing.”
The Henry Tax Review has now come back with a vengeance and deservedly biting our politicians where it hurts. Although the real reason why NSW refuses to make changes to Stamp Duty is succinctly explained in the following graph.
<a href="https://www.propertyobserver.com.au/images/2017/01/29/NSW-Stamp-Duty.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/29/NSW-Stamp-Duty.png" alt="">
In Australia, currently the Top 10 taxes deliver 90 per cent of Australia’s taxation revenues. Three of the state taxes are in the Top 10 taxes by revenue collected, although these three state taxes are at the bottom of the Top 10 and represent less than 11 per cent of all tax revenues.
Many simply say increase the taxes for foreign buyers, although there are major issues on that horizon when this week two major Chinese private providers of home price data stopped publishing figures so what’s happening to the home-grown Chinese property markets? The Chinese Index Academy stopped distributing monthly housing price data for 100 cities which was usually made available at the commencement of each month. The Academy told Reuters last Friday, it had suspended distribution indefinitely and then politely declined to provide a reason.
Coincidentally on New Year’s Eve the Chinese government issued a statement that effectively makes it much harder for Chinese investors to now get their money out of China. In an email I received on January 5 here are the key points.
<ul>
<li>The individual annual foreign exchange purchase quota of $50,000 is unchanged.</li>
<li>Banks are “encouraged” to increase scrutiny of currency transfers.</li>
<li>Banks must report any overseas transfers by individuals of US$10,000 or more.</li>
<li>Starting in July 2017, banks and other financial institutions in China will have to report all domestic and overseas cash transactions of more than 50,000 yuan ($7,201), compared with the current amount of 200,000 yuan.</li>
<li>Beijing is signalling to banks, companies and individuals that it disapproves of foreign spending and investment, except for a few purposes that are explicitly defined by the government (e.g. buying foreign-made machinery to increase the efficiency of a Chinese factory).</li>
<li>Overseas property investment has been called out by at least one major Chinese bank as insufficient reason for transferring money abroad.</li>
</ul>
With great interest, we shall watch very carefully how the Chinese buyers perform in 2017 especially as very little (actually nothing) has been written on these forced changes by the Chinese government.
Housing affordability will be major election issues at forthcoming state and federal elections and that could not happen to a nicer group of politicians who have been complicit by neglecting these issues for decades.
Oh and on Australia Day, 2014 Mosman had 68 houses on the market, 2015 it fell to 58, then in 2016 it fell to 45 and this week it’s 25.
ROBERT SIMEON is a director of <a href="https://www.rwm.com.au/" target="_blank" title="RWM" rel="nofollow">Richardson Wrench Mosman and Neutral Bay</a> and has been selling residential real estate in Sydney since 1985. 
He has also been writing real estate blog <a href="https://www.rwm.com.au/news/" target="_blank" title="Virtual Realty News" rel="nofollow">Virtual Realty News</a> since 2000.
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Politicians to battle housing affordability - an oxymoron? Robert Simeon

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<div>Within the Consumer Price Index figures, the ABS produces some very useful quality-adjusted figures on rental price inflation. </div>
<div> </div>
<div>The data series shows how rents can rise very fast when investors are spooked out of the market, such as between 1985 and 1987 (changes to tax legislation) and 2008 (global financial crisis).</div>
<div> </div>
<div>When investor activity is high, on the other hand, the growth in rents is likely to be weaker, and this is also the case when low interest rates make buying a home comparatively more attractive than renting. </div>
<div> </div>
<div>In this context, nationally annual rental price growth is at its lowest level in more than 22 years, at 0.6 per cent.</div>
<a href="https://4.bp.blogspot.com/-TapbS0WJLJA/WIiHzukMDfI/AAAAAAAAhak/ndXk6_mJwuYkNIMYlgamcTe_ZXRg6mH3QCLcB/s1600/A5.jpg" target="_blank"><img src="https://4.bp.blogspot.com/-TapbS0WJLJA/WIiHzukMDfI/AAAAAAAAhak/ndXk6_mJwuYkNIMYlgamcTe_ZXRg6mH3QCLcB/s640/A5.jpg" width="640" height="340"></a> In Perth, annual rental growth has turned negative to the tune of -7.2 per cent. 
<div><a href="https://2.bp.blogspot.com/-uEibKl7v3wA/WIiHzuEUPiI/AAAAAAAAhag/SXTXMTsRc6glPmclKzhWpDZgTpWppJaLgCLcB/s1600/A3.jpg" target="_blank"><img src="https://2.bp.blogspot.com/-uEibKl7v3wA/WIiHzuEUPiI/AAAAAAAAhag/SXTXMTsRc6glPmclKzhWpDZgTpWppJaLgCLcB/s640/A3.jpg" width="640" height="352"></a></div>
 
<div>Darwin is by some margin the weakest rental market, with rents declining by -8.2 per cent in 2016.</div>
<div> </div>
<div>On the other side of the ledger, Hobart is the tightest capital city rental market, with quality-adjusted rents increasing by 3.5 per cent in 2016. </div>
 
<div><a href="https://1.bp.blogspot.com/-UxoHSu6V94w/WIiHzDbkYtI/AAAAAAAAhac/dxkvE9U8dU8nCp-g_SVnqVl0DqN1_KvIgCLcB/s1600/A4.jpg" target="_blank"><img src="https://1.bp.blogspot.com/-UxoHSu6V94w/WIiHzDbkYtI/AAAAAAAAhac/dxkvE9U8dU8nCp-g_SVnqVl0DqN1_KvIgCLcB/s640/A4.jpg" width="640" height="358"></a></div>
 
<div>A look at the long-run figures shows that despite the supply response real rents in both Sydney and Melbourne continued to rise to all-time highs. </div>
 
<div><a href="https://4.bp.blogspot.com/-4bBihfkI2e8/WIiH0l1XAdI/AAAAAAAAhao/x9GcxFT-oyogKdHKJnWFu4ENGUXxTHbPQCLcB/s1600/A6.jpg" target="_blank"><img src="https://4.bp.blogspot.com/-4bBihfkI2e8/WIiH0l1XAdI/AAAAAAAAhao/x9GcxFT-oyogKdHKJnWFu4ENGUXxTHbPQCLcB/s640/A6.jpg" width="640" height="340"></a></div>
 In real terms, at the city level Brisbane rents are certain to move lower in 2017 due to the inner city apartments overbuild. 
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.
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Where capital city rents are falling further in 2017: Pete Wargent

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GUEST OBSERVER
The Australian Bureau of Statistics (ABS) released lending finance data earlier today and when it is paired with the earlier housing finance data release, the figures provide insight into the value of mortgage lending over the month in each state and territory. 
Over recent months investor demand for mortgages has been trending higher and this is being largely driven by resurgent investor demand in New South Wales and Victoria. 
Of course the capital cities of these two states have consistently recorded the strongest value growth of all capital cities over the past five years and also have the lowest rental returns.
<a href="https://www.propertyobserver.com.au/images/2017/01/25/chart-1-3.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/2017/01/25/chart-1-3.jpg" alt="">
The data analysed is based on the value of mortgage finance commitments. 
Given this it is important to consider that more expensive markets (such as NSW) will tend to result in borrowers taking out larger mortgages whereas borrowers in more affordable markets will generally take out smaller mortgages.  More than half of all the mortgage lending to investors in November 2016 was lent in New South Wales and with a further 24.5 percent in Victoria, three quarters of all mortgage lending to investors occurred in the two most populous states.
<a href="https://www.propertyobserver.com.au/images/2017/01/25/chart-2-3.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/2017/01/25/chart-2-3.jpg" alt="">
Looking only at new lending (that is excluding refinances) investors accounted for 56.7% of the value of lending in New South Wales in November 2016.  Looking over the past four years, the value of new lending to investors in New South Wales has been greater than new owner occupier lending for 42 of the past 48 months. 
Victoria was previously seeing slightly more than 50% of new lending to investors but was recorded at 45.0% in November 2016.  Across the remaining states and territories, the proportion of total new lending to investors in November 2016 was recorded at: 39.7% in Queensland, 37.1% in South Australia, 31.0% in Western Australia, 26.1% in Tasmania, 40.3% in the Northern Territory and 38.7% in the Australian Capital Territory.
It’s clear that demand for mortgages from the investor segment is picking up, particularly in New South Wales and Victoria, which are proxies for Sydney and Melbourne respectively.  With a low cost of borrowing and many owner occupiers having seen substantial increases in housing equity in Sydney and Melbourne over the past 4.5 years it is easy to understand why investor demand is rising. 
On the other side of things, you have a value growth phase that has now run for 4.5 years, largely focussed on two major cities and rental returns at historic low levels in these cities.  Investors should be considering the potential risks, especially as housing supply is responding and that the value growth phase is now quite mature.  While many have seen a substantial increase in the value of properties and may continue to do so, at some point growth will slow. 
With record low yields, slow rental growth and additional housing supply entering the market over the coming years, if investors need to start relying on rental returns rather than increase in the asset value, boosting those returns is likely to prove difficult.
Cameron Kusher is research analyst for CoreLogic. You can contact him <a href="https://blog.corelogic.com.au/about/">here</a>.
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New lending to investors in NSW has accounted for more than half of all new lending for 42 of the past 48 months: Cameron Kusher

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A 26-year-old from Wollongong is a new man, literally, after having traded his $60,000-a-year accounting job for ownership of a tropical island courtesy which he won in a lottery.
Josh Ptasznyk, 26, now finds himself running a multi-million dollar resort on the tiny Micronesian Island of Kosrae. He won the resort from a $66 lottery ticket in July 2016 off a Gold Coast couple Doug and Sally Beitz, who earned about $4 million in ticket sales, according to a report in goldcoastbulletin.com.au citing the Daily Telegraph.
“My life has completely changed, it is really tough work but it has pushed me out of my comfort zone,” he was quoted in the report as saying.
Ptasznyk is now managing dozens of staff and has taken up paddle-boarding and kayaking.
“I’ve been doing heaps of activities and sports I wouldn’t normally try and to be honest I used to spend most of my time in front of a computer.
“I wake up early, open the restaurant and get to work. It is a lot different to my old job.”
Ptasznyk said he misses his parents and friends but says he made the right choice.
“It has been hard on my parents because they miss me heaps,” he said.
Ptasznyk says the news came while he was at a Trivia night with friends and got a call to be informed that he had won the resort.
“I thought it wasn’t true so I hung up but they kept calling and eventually I realised it was true and packed my bags.”
Ptasznyk’s friends are celebrating too. One of them has planned his 30s birthday on the island and more are planning trips.
The former accountant told the Daily Telegraph he would use his skills scouring the books to turn the resort into a long-term investment.
Currently, the biggest challenge is getting people to the Island.
It has an airstrip but most holiday makers will need to travel to Guam in Micronesia before catching a second flight to Kosrae.
After the airfares, rooms go for as little as US$119 a night or around A$160.
Guests will have access to the entire island and all its activities.
The resort runs diving classes and bushwalking sessions as well as offering fine-dining options along the coastline.
{mijopolls 147}
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Accountant looks to cash in on resort island business he won in a raffle

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There are many wonderful quotes on the subject of truth and lots of them are relevant to Australian real estate issues.
Mark Twain said “A lie can travel half way around the world while the truth is putting on its shoes” while Winston Churchill is credited with saying “Men occasionally stumble over the truth, but most of them pick themselves up and hurry off as if nothing ever happened”.
Benjamin Disraeli gave us “There are three types of lies -- lies, damn lies, and statistics”, a reality which is seen every day in the press release-based coverage of Australian real estate.
But the one that’s most relevant to real estate today is this one from Nazi propagandist Joseph Goebbels: “If you tell a lie big enough and keep repeating it, people will eventually come to believe it.”
We see this revealed in the many surveys conducted on real estate issues. In simple terms, the prevailing view is the one most often reported in mainstream media, the truth notwithstanding.
So if media keeps stating a “national affordability crisis” as a fact, as it does daily, it’s no surprise when a survey reveals that most respondents are very concerned that young Australians are priced out of real estate ownership – everywhere in Australia, apparently.
Nor was it surprising when another recent survey found that foreign investors are the most popular culprits blamed for rising house prices in Australia. 
This results largely from a cynical exercise by federal politicians taken direct from a script of the iconic UK sitcom Yes Minister. If you want to show concern for an issue but plan to change nothing, here’s what you do: hold an inquiry, string it out as long as you can and, at the end of it, find an unpopular minority to blame for the problem – and then recommend holding another, more in-depth, inquiry.
That’s pretty much the scenario that’s played out in Canberra over the past 2-3 years. A long inquiry ended by blaming all the problems on dastardly foreign investors. Brilliant, because greedy foreigners are easy to dislike and they don’t vote in Australian elections.
So, while bringing on a second inquiry (the one that recently concluded by making no recommendations), the Federal Government indulged lots of wonderful sabre rattling and passionate speeches about clamping down on foreigners who break the rules, thereby creating a level playing field for young Aussie hopefuls.
There were a few highly-publicized instances of foreign buyers being forced to sell back mansions they’d bought in breach of the foreign investment rules. There you go, Australia, problem solved.
But you’ll notice that prices have continued to rise in our biggest cities. All the fluff and nonsense, all those press statements and acres of newsprint - and not a single house is cheaper in Sydney or Melbourne.
Why is it so? Because foreign investors have little or nothing to do with the cost of homes out there in the burbs where first-home buyers hunt. They’re a tiny percentage of the overall market and they mostly target high-end houses in the big cities or off-the-plan apartments. They’re not scouring Blacktown or Caboolture or Cranbourne seeking to outbid Aussie first-home buyers.
But 35 percent of respondents to a RateCity survey believed that the single biggest reason for high house prices was foreign investors. Why? Because media reports keep telling them so and your average punter doesn’t waste a lot of time on independent thought.
The next most popular culprits in the survey, Australian investors, are also unfairly maligned as the cause of real estate prices rising everywhere.
And, once again, the two worst offenders get off scot free, because media never talks about them.
The buying sector that most drives prices is the mob known as next-time buyers – home buyers other than first-time buyers. Most of the time they’re the biggest individual buying cohort and they have the ambition, aspiration and financial capacity to pay a top price. Investors have different motivations.
And when it comes to new dwellings, the biggest source of high costs are politicians are all levels of government. Local government, state governments and the federal government – they all treat the housing industry as a cash cow and load up the cost of new dwellings with taxes, fees and charges.
So when new NSW Premier Gladys Berejiklian declared that housing affordability was one of her top three priorities, she was (like everyone who has come before her) mouthing platitudes.
She’s refusing to even consider doing something about the worst of all home-buyer costs, stamp duty, which in Sydney borders on the obscene – nor about the contribution her government makes to the high cost of creating new dwellings.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
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NSW Premier Gladys Berejiklian's housing affordability platitudes

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The median dwelling price in regional Victoria is $300,000, up from $273,001 five years ago, according the December 2016 Housing Affordability Report from CoreLogic.
The median dwelling value across regional NSW now costs 6.6 times the median annual household income, according to CoreLogic. 
<a href="https://www.propertyobserver.com.au/images/2017/01/23/Screen%20Shot%202017-01-23%20at%201.54.41%20PM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/23/Screen%20Shot%202017-01-23%20at%201.54.41%20PM.png" alt="">
Property Observer found this single level two bedroom family home at <a href="https://www.realestate.com.au/property-lifestyle-vic-enfield-7875154" target="_blank">80 Inglewood Drive Enfield</a> on the market for between $275,000 - $300,000. 
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