ANZ believes the Reserve Bank is in no rush to move again.

Following the release of the May Monetary Policy Board Minutes, ANZ has taken the view that the RBA is now firmly in a holding pattern, with the cumulative impact of previous rate hikes giving the Board scope to assess how the economy evolves from here.

That positioning, in ANZ’s view, makes a June rate hike unlikely.

The bank continues to expect the cash rate to remain unchanged at 4.35 per cent for an extended period, with the RBA adopting what is effectively a wait-and-see approach.

The Minutes point to a Board that sees financial conditions as already restrictive, but without a clear read on just how restrictive they are. That uncertainty has shifted the focus away from immediate policy action and toward monitoring both domestic conditions and global developments, particularly the conflict in the Middle East.

As ANZ interprets it, the Board is deliberately avoiding strong forward guidance.

Instead, it is allowing itself flexibility, acknowledging that monetary policy has limited ability to influence the near-term trajectory of inflation, while also recognising that economic growth is likely to remain below potential for some time.

Despite that pause in momentum, ANZ notes that the Board still carries a tightening bias.

The Minutes reveal that, in weighing up its decision, the Board seriously considered another 25 basis point increase. The key debate centred on the trade-off between inflation and activity, particularly in the context of global uncertainty.

Ultimately, most members leaned toward the inflation side of that equation.

Underlying inflation is still expected to remain above target for an extended period, regardless of how external risks evolve. That has led to a view within the Board that the risks to its inflation objective have increased, and that the current cash rate may not be sufficiently restrictive to fully contain those pressures.

That’s important.

While the decision, for now, is to hold, the underlying tone of the Minutes suggests the door to further tightening has not been closed.

ANZ also points to commentary from Assistant Governor (Economic) Sarah Hunter, who highlighted the risk that inflation could pass through the economy more quickly and broadly than in previous cycles. Both Hunter and a majority of the Board expressed concern that inflation expectations could become less anchored after such a prolonged period above target.

That combination, persistent inflation and the risk of expectations shifting, is what continues to underpin the RBA’s cautious stance.

However, where ANZ diverges from the RBA is on the outlook for activity.

The Board appears relatively comfortable with current spending patterns, effectively downplaying recent declines in business and consumer sentiment. It notes that sentiment has historically been only weakly correlated with actual spending, and that feedback from its liaison program has not yet pointed to a meaningful slowdown in consumption.

ANZ is less convinced.

The bank believes the link between household disposable income, sentiment and spending is more direct than the RBA is currently acknowledging. With inflation continuing to erode real incomes, ANZ expects household spending to soften more materially than the central bank is forecasting.

That divergence matters because it shifts the balance of risk.

If activity weakens more than expected, the trade-off between inflation and growth changes. In ANZ’s view, that would reduce the need for further tightening and reinforce the case for the RBA to remain on hold.

It also suggests that the current policy setting may already be doing more work than the Board fully appreciates.

The broader takeaway from ANZ’s interpretation is that the RBA is walking a narrow path.

On one side sits the risk of inflation remaining elevated for longer than expected. On the other is the growing pressure on households and the potential for a sharper slowdown in activity.

For now, the Board is choosing to wait.

But it is a pause that still carries an underlying tightening bias, rather than a clear pivot toward easing.

In practical terms, that leaves the cash rate anchored at 4.35 per cent for the foreseeable future, with the next move still uncertain.

For borrowers, it reinforces the reality that relief is not imminent.

And for the broader economy, it highlights the delicate balance the RBA is trying to strike, between bringing inflation back to target and avoiding an unnecessarily sharp slowdown in growth.

According to ANZ, it is a balance that is becoming increasingly difficult to maintain.

Joel Robinson

RBA to hold rates for "prolonged period" rather than hikes: ANZ

<a href="https://www.apartments.com.au/developers/venturecrowd-property-projects">VentureCrowd</a> is down to the final Canopy Villa release at Cumulus Grand Villas in Carrara, as construction continues on the 59-residence gated community positioned above 100 hectares of natural savanna on the Gold Coast.

The remaining Canopy Villa forms part of one of four collections within the <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>-designed community and has attracted interest from buyers seeking larger-format homes that combine privacy, security and low-maintenance living. Positioned within a private cul-de-sac and facing a protected black she oak forest, the four-bedroom villa includes a large private outdoor area suited to pet owners and families wanting more flexible space.

<a href="https://www.apartments.com.au/new-townhouses/cumulus-grand-villas-carrara-17-baltimore-court-carrara-qld-4211">Cumulus Grand Villas</a>, located at 17 Baltimore Court, comprises a mix of three and four-bedroom villas across the Skyline, Canopy, Savanna and Broadview collections. Prices currently range from $1.455 million to $1.895 million, with the final Canopy Villa priced from $1.825 million.

[smartcode_project:default project_id=135663 project_image_fid=360477]

The Canopy Collection villas offer four bedrooms, 2.5 bathrooms and approximately 245 sqm of internal space, alongside double garages and landscaped private areas. Expansive glazing, open-plan living spaces and private balconies have been designed to maximise natural light and outlooks toward the surrounding savanna landscape.

Construction is now underway across the fully funded development, which VentureCrowd says has become an increasingly important consideration for buyers assessing off-the-plan opportunities on the Gold Coast. The project is being delivered by <a href="https://www.apartments.com.au/builders/devcon">Devcon Property Group</a>, which has operated in South East Queensland since 1993 and delivered more than 1,000 homes across the region.

VentureCrowd Director of Property David Whitting previously said the project responds to changing buyer priorities in the prestige Gold Coast market.

“Flexible floorplans have proven particularly relevant for purchasers aged between 40 and 65, including next home buyers, downsizers and investors,” Whitting said.

[smartcode_project:default project_id=135663 project_image_fid=360505]

The buyer profile at Cumulus has reflected that shift toward owner-occupier-driven demand. Stuart Towns and Tracey Loynes recently purchased a Canopy Villa, drawn to both the lifestyle offering and the flexibility the home provided for their next stage of living together.

The couple, who met three years ago, sold their Robina home earlier this year after identifying what they saw as strong long-term investment potential at Cumulus while remaining within the same Gold Coast market. The villa’s private backyard was a major drawcard for their dog Luna, while proximity to golf courses including Emerald Lakes also aligned with their lifestyle interests.

Beyond the residences themselves, the community has been planned around shared lifestyle and recreation amenities. The Infinity Terrace will include a 20-metre heated pool, barbecue facilities, alfresco dining spaces and elevated retreat areas overlooking the surrounding landscape. Walking trails, a private nature reserve, orchard and herb garden are also integrated into the masterplan.

[smartcode_project:default project_id=135663 project_image_fid=360473]

BDA Architecture Director Darren Greenaway said the design approach was heavily influenced by the site’s outlook and secluded setting.

The practice sought to create what Greenaway described as a “little piece of paradise,” drawing inspiration from the elevated views, surrounding greenery and quiet location.

<a href="https://www.apartments.com.au/developments/carrara-qld-4211">Carrara</a> continues to attract buyers seeking larger homes within proximity to the coast but without direct beachfront pricing. Cumulus sits within easy reach of Broadbeach, Pacific Fair, Robina Town Centre and the M1, providing connections north to Brisbane and south toward the Gold Coast Airport and northern New South Wales.

The first stage of Cumulus Grand Villas is targeting completion in 2026.

[smartcode_project_cta:default project_id=135663]

VentureCrowd nears sell-out of Canopy Collection at Cumulus Grand Villas in Carrara

Waverley Council has made a call that many councils have been reluctant to make publicly. Growth is coming, regardless of who controls it.

The release of the Bondi Junction Vision and Master Plan is less about whether the Eastern Suburbs’ primary centre will change, and more about how that change is shaped, funded, and ultimately experienced on the ground. Waverley Council has released a 100-page plan which is effectively the first comprehensive blueprint for Bondi Junction in over two decades, and in doing so, signals a clear shift in how councils are positioning themselves in the current planning environment.

For the past 18 months, the conversation across New South Wales has been dominated by the State Government’s Low and Mid-Rise Housing reforms and the emergence of the Housing Delivery Authority pathway. Both have created faster, more centralised avenues for development approvals, particularly in well-located, infrastructure-rich areas like Bondi Junction.

Waverley Council’s response has been to move early, and decisively.

Rather than react to individual proposals as they come through the HDA or broader State-led reforms, Council has sought to establish a clear, place-based framework that sets the terms for how Bondi Junction evolves. The underlying position is relatively straightforward: if densification is inevitable, it should be tied to infrastructure, public domain improvements, and a cohesive vision for the centre, not delivered piecemeal through ad hoc applications.

<img alt="bondi junction" data-entity-type="file" data-entity-uuid="7f1f729c-ed99-4c6c-bf87-ffbce6991941" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-19%20at%209.58.16%E2%80%AFAM.png?VersionId=ULX4OlXKjeJ5BvNCNGL86evgXCjCfMih" />

At its core, the document is attempting to reposition Bondi Junction from what it largely functions as today, a transport interchange anchored by a major retail centre, into something far more layered. The ambition is to transform it into what the plan describes as the “civic and cultural heart of Sydney’s East,” a place that is active beyond commuting hours and capable of supporting a broader mix of uses, experiences and communities.

That repositioning is built around four key ambitions.

The first is to create a true destination. Bondi Junction already attracts significant foot traffic, with more than 86,000 daily transport users and millions of annual retail visits, but much of that activity is transient. People pass through, rather than stay.

The Master Plan seeks to change that dynamic. It leans heavily into the idea of an “18-hour economy,” extending activity well beyond traditional retail hours through dining, cultural programming, events, and a more active night-time offering. This is not just about adding more hospitality venues, but about fundamentally shifting how the centre operates, from a daytime shopping destination to a place that functions across the full span of the day and into the evening.

Oxford Street Mall sits at the centre of that shift.

Long seen as underperforming relative to its potential, the Mall is identified as one of the key catalyst projects in the plan. It is to be reimagined as a day-to-night spine, combining retail, dining, wellness and cultural uses in a way that creates a continuous flow of activity. Outdoor dining, rooftop venues, laneway activation and a curated events program are all part of the strategy, alongside significant public domain upgrades that aim to improve comfort, safety and usability.

&nbsp;

The second ambition is to transform Bondi Junction into a world-class interchange.

Despite being one of the most heavily used transport nodes in Sydney, the current experience is fragmented. Connections between the station, Westfield, Oxford Street Mall and surrounding streets are often unclear, and major roads create physical barriers that disrupt pedestrian movement.

The Master Plan proposes a more seamless, people-focused network. That includes clearer pedestrian links, improved wayfinding, better integration between transport modes, and a rethinking of how arrival into the centre is experienced. The aim is to shift the perception of Bondi Junction from a place people move through, to a place they arrive in.

The third ambition focuses on greening and open space.

One of the more consistent pieces of community feedback throughout the Vision phase was the need for more greenery, better public spaces, and a more comfortable urban environment. Despite being surrounded by major parks, Bondi Junction itself has relatively limited accessible open space, with much of the public realm dominated by hard surfaces and traffic infrastructure.

The plan responds with a network of new and upgraded public spaces, increased tree canopy, and what it terms the “Parkline,” a green link connecting Waverley Park through to Centennial Park. This is not just about aesthetics. It is about addressing heat, improving liveability, and ensuring that increased density is matched by access to high-quality outdoor space.

The fourth ambition is perhaps the most important from a development perspective: growth that gives back.

Bondi Junction is already the primary location for new housing supply in the Waverley LGA, and that is expected to continue. The area carries a target of 2,400 new dwellings by 2029, with further growth projected beyond that as demand for well-located housing continues to rise. The Master Plan does not seek to limit that growth. Instead, it attempts to shape it.

New housing is to be concentrated around transport, with stepped building heights designed to protect the character of surrounding neighbourhoods. At the same time, the plan introduces a more explicit link between development uplift and public benefit. This is where value capture becomes central.

The document outlines a framework where increased development potential is tied to contributions that fund public domain improvements, community infrastructure, open space, and affordable housing. It is an approach that recognises that much of the transformation of Bondi Junction will be delivered by the private sector, but seeks to ensure that the benefits of that growth are shared more broadly. The Civic Precinct is a key part of that equation.

Leveraging Council-owned land, the plan proposes a consolidated civic and cultural hub centred around Ebley Street. This would include new community facilities, cultural spaces, and potentially a new Council Chambers, creating a focal point for civic life that currently does not exist in Bondi Junction at scale.

It is one of several catalyst projects identified in the Master Plan, alongside the Oxford Street Mall transformation. These projects are intended to anchor change, acting as early interventions that unlock broader investment across the precinct.

Importantly, the Master Plan is not just a design document. It includes a delivery framework that sets out how these ambitions are intended to be realised.

Council is explicit in acknowledging that it cannot deliver the transformation alone. Implementation will require coordination between State agencies, private developers, landowners and the community, with a mix of planning agreements, infrastructure contributions and direct delivery mechanisms used to fund and stage improvements over time.

The plan outlines a mix of short-term, medium-term and long-term actions, from immediate public domain upgrades and planning controls, through to larger-scale projects that will unfold over the next decade or more. In practical terms, the next 12 to 24 months will be the most important.

This is when the Master Plan will move through exhibition, refinement and eventual adoption. It is also the period in which Council will seek to embed the framework into its planning controls, giving it weight in the assessment of future development applications.

Council officers have indicated that once the Master Plan is in place, it could be used as a benchmark when assessing Housing Delivery Authority proposals, and potentially reduce the need for further HDA declarations within Bondi Junction. In effect, it is an attempt to bring planning control back to the local level, while still aligning with State housing targets.

That tension between State-led reform and local planning control is not unique to Waverley. It is playing out across Sydney.

&nbsp;

&nbsp;

&nbsp;

If delivered as intended, Bondi Junction will become denser, more active, and more complex. It will support more residents, more workers, and a wider range of uses, extending beyond its current retail core into a more layered urban environment.

“The civic and cultural heart of Sydney’s East”: Bondi Junction masterplan revealed

Toorak's dress circle St Georges Road, home to some of the city's priciest homes, is set for a rare new apartment development.

Blood Diamond Group, an entity tied to Tina Brandi, wife of David Brandi who has been a prolific bidder on The Block over the years, has filed plans for an ultra-exclusive development across an amalgamated 3,662 sqm site at <a href="https://www.apartments.com.au/new-apartments/104-106-st-georges-road-toorak-vic-3142">104 and 106 St Georges Road</a>.

The proposal would replace two existing homes on the riverfront site with a five-level apartment building cascading down the steeply sloping land toward the Yarra River. Designed by Charles Wright Architects, the development has been carefully shaped around the site’s topography and river environs, with the upper levels stepping back to reduce visual bulk from both St Georges Road and the Yarra corridor.

Planning documents describe the proposal as “a site layout and building typology that is consistent with the emerging character of the area and which provides exceptional amenity for future residents without compromising that of neighbouring properties.”&nbsp;

<img alt="First look: Blood Diamond Group unveils riverfront apartment plans for Toorak Pavilion" data-entity-type="file" data-entity-uuid="ea19a17e-7528-4fa8-b727-05f2f7c025e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Toorak%20pavilion%20a_0.png?VersionId=rZ2IjdoUL_UrRl1sZ4wZHnQXbYUaEmUQ" />

The scheme comprises 12 apartments, including 10 three-bedroom residences, one one-bedroom apartment, and a substantial split-level five-bedroom penthouse. A 624 sqm communal rooftop terrace will crown the building, while three undercroft levels embedded into the hillside will accommodate apartments and basement parking.

The design leverages the site’s dramatic northern outlook across the Yarra River, with living areas and balconies oriented toward the water. A central atrium running the full height of the building is intended to draw natural light deep into the residences and improve internal amenity.

Landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/jack-merlo">Jack Merlo Design &amp; Landscape</a> will play a major role in softening the built form, particularly along the river edge where significant setbacks have been introduced. The proposal includes a minimum 30-metre setback from the Yarra River boundary, preserving a substantial landscaped buffer between the development and the waterway.

While a mature English Oak near the front of the site is proposed for removal, the plans retain a large English Elm closer to the riverfront, alongside other established vegetation in the lower section of the property.

<img alt="First look: Blood Diamond Group unveils riverfront apartment plans for Toorak Pavilion" data-entity-type="file" data-entity-uuid="ed3bf19b-5bc7-482f-bde7-41f709a13c3a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Toorak%20pavilion%20b.png?VersionId=SG_kBGu4rOaSPY8FtVcmPJfSCrstuOfg" />

Architecturally, the building adopts strong horizontal forms with expansive glazing and curved balcony edges facing the river. Planning documents note the upper levels “adopt a receding form” to ensure the building responds appropriately to the Yarra River environs overlay controls.&nbsp;

The surrounding streetscape is characterised by large contemporary homes embedded into the hillside, many presenting as modest one or two-storey forms to the street before expanding toward the river frontage below. The planning report notes this established pattern heavily influenced the massing strategy for Toorak Pavilion.&nbsp;

Until the recent sale of the landmark Clendon Road mansion Coonac for around $130 million, St Georges Road held the state's most expensive home, the $80,000,088 derelict "Ghost House" mansion that was bought by crypto king Ed Craven.&nbsp;

Blair House, also on St Georges Road, sold for $74.5 million in 2022.

First look: Toorak Pavilions slated for dress circle St Georges Road

Six months after a development site on Kangaroo Point’s Shafston Avenue sold for $6.55 million, plans have been lodged for a 23-storey apartment tower.

A company named JMT Mega Capital, understood to be interstate investors when the 1,222 sqm double block traded late last year through Patona Property, is proposing an 84-apartment development in place of the existing low-rise buildings.

The slender tower at <a href="https://www.apartments.com.au/new-apartments/212-220-shafston-avenue-east-brisbane-qld-4169">212–220 Shafston Avenue</a>, overlooking the Brisbane River, has been designed by <a href="https://www.apartments.com.au/architects/aplus-design-group">Aplus Design Group</a>. It will comprise a mix of one-, two- and three-bedroom apartments above six basement levels, topped by rooftop resident amenities.

<img alt="First look: 23-storey Kangaroo Point tower planned for Shafston Avenue riverfront precinct" data-entity-type="file" data-entity-uuid="7e17ba9e-553e-42ef-92b6-22081671521a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium_3.png?VersionId=hlVUf99vrOjUs.vhQs0qV0DhOncUy9T8" />

The development has been designed as a vertically articulated tower with recessed balconies, curved façades and planted edges intended to soften its scale within the evolving Shafston Avenue skyline. In the submitted Urban Design Report, Aplus Design Group said the tower had been “shaped with a slender vertical expression, articulated façades, recessed balcony zones, integrated planting and a clearly defined podium relationship, helping to reduce perceived bulk and create a more elegant contribution to the Shafston Avenue streetscape and broader Kangaroo Point skyline.”

The scheme comprises 84 apartments, including 25 one-bedroom units, 34 two-bedroom apartments and 25 three-bedroom residences. A total of 104 car spaces are proposed across six basement levels, including resident, visitor and accessible parking.

Residents will have access to rooftop communal open space and shared amenities, while the development also incorporates deep planting zones and subtropical landscaping throughout the podium and tower levels. The project includes 35 per cent communal space coverage across the site and a 17.5 per cent deep soil zone allocation to support urban greening outcomes.

The application exceeds the mapped building height under the Kangaroo Point Peninsula Neighbourhood Plan and is being assessed under Brisbane City Council’s impact assessment pathway. The design team argues the additional height is supported by the site’s strategic inner-city location, existing high-density zoning, and proximity to transport and employment hubs.

“The design has been developed to make better use of a well-serviced urban site within an established high-density residential setting, while improving the street presentation and overall quality of the public realm interface,” the report states.

<img alt="First look: 23-storey Kangaroo Point tower planned for Shafston Avenue riverfront precinct" data-entity-type="file" data-entity-uuid="1ab44b1e-ff45-4bf3-8da8-8aa0cd79db33" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_10.png?VersionId=tSxeGekZOqj1e9g3PEn_yFoC3taKDp3U" />

The proposal adds to a growing pipeline of apartment developments reshaping Kangaroo Point ahead of the 2032 Brisbane Olympic Games, with demand continuing to strengthen for new housing supply in well-connected inner-city precincts.

Mosaic has nearly sold out its under-construction <a href="https://www.apartments.com.au/new-apartments/the-bedford-by-mosaic-16-30-prospect-street-kangaroo-point-qld-4169">The Bedford by Mosaic</a>&nbsp;and <a href="https://www.apartments.com.au/new-apartments/the-carter-by-mosaic-77-linton-street-kangaroo-point-qld-4169">The Carter</a>,&nbsp;while Pikos recently completed <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye Residences</a> nearby. Pikos is also delivering <a href="https://www.apartments.com.au/new-apartments/gaia-kangaroo-point-108-lambert-street-kangaroo-point-qld-4169">Gaia</a>, over 230 three- and four-bedroom apartments on Lambert Street.

First look: 23-storey Kangaroo Point apartment tower planned for Shafston Avenue riverfront 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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The heritage-listed Terminus Hotel on the corner of Harris and John Streets, Pyrmont, has been sold by Auswin TWT for around $5 million.
The purchaser identity remains confidential. Justin Hemmes inspected but it seems decided, notwithstanding its exterior, it would not to be an addition to his ‘Ivy’ stable.
Zoned B4 Mixed Use, the hotel provides an opportunity for multiple bars, dining and accommodation options.
It was sold by Andrew Jolliffe of Ray White Hotels Australia and Steven Tsang and James Aroney of JLL Sales and Investments NSW.
Mr Jolliffe said the successful purchaser identified with the significant character of the property, and is understood to be considering a number of uses, including the reactivation of the licensed premises.
Mr Tsang said more than 60 private inspections were conducted with hoteliers, developers, owner-occupiers and community groups.
It was long owned the Wakil family.
Auswin TWT will still retain the 2,300 square metre carpark on the south-western side of the hotel where it plans to develop luxury terraces. Auswin TWT is also awaiting approval of a DA for a prestigious mixed-use development at nearby 495 Harris Street Ultimo which will contain 210 apartments and ground floor retail/commercial space. 
The <a href="https://www.propertyobserver.com.au/https://digitalcollections.anu.edu.au/handle/1885/9134" target="_blank">Terminus Hotel </a>is two storeys and sits on a 493 square metre site with a gross floor area of 543 square metres. 
Built in the early 1900’s Federation Style, the hotel was originally called <a href="https://www.lostcollective.com/gallery/1603-terminus-hotel/" target="_blank">The Cooper’s Arms Inn</a> but took its current name in 1911 in reference to the tram service which terminated on Jones Street.
The hotel retains many original features including the red brick façade and the distinct parapet skyline detailing. Despite remaining uninhabited for the past three decades, the interiors maintain the charm of a bygone era with their metal ceilings and ornate floor and wall tiling.
 
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Pyrmont's heritage-listed Terminus Hotel sold

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Melbourne businessman Lloyd Williams has listed property developer Hudson Conway's HQ with $9.5 million expectations, and a DA approval.
Williams, owner of Hudson Conway, has held the property for 20 years and is selling the building with a permit for a 16-level project with 91 apartments.
Last year Williams plans for a twisting 123 metre tower on the site were rejected by Victoria's Planning Minister Richard Wynne with concerns that many of the buildings planned 228 apartment would not have adequate sunlight.
Hudson Conway are said to be looking at the Southbank market.
CBRE has been appointed as the selling agent for the site, and senior director Mark Wizel said a lack of quality inner city Melbourne development opportunities is expected to underpin interest in the property. 
The building is located next to Melbourne's Arts Centre at 250 Stuart Street in Melbourne.
 
 
 
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Property developer Hudson Conway lists Melbourne HQ

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The Hobart housing market has been the nation’s weakest performing capital city housing market for more than a decade.
There are now signs that the Hobart (and Tasmania’s) housing market may be in line for a steady improvement.
<a href="/images/2016/04/27/Chart-1-2-580x208.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/27/Chart-1-2-580x208.jpg" alt="">
Over the 12 months to March 2016, home values in Hobart have increased by 4.8 percent while over the past two years values are only 4.5 percent higher highlighting that the value growth performance has been much stronger over the past year relative to the previous year.
The above chart shows the annual change in home values across all capital cities, with Hobart and the combined capital cities highlighted and the other cities in grey.  Although Hobart values have increased over the past year, the recent rise must be put in context, over the past decade home values in Hobart have increased at an annual rate of 1.5 percent with values falling at an annual rate of -0.7 percent over the past five years.  Hobart’s decade growth performance is well behind Perth which has recorded the second lowest annual rate of growth over the period at 3.1 percent.
<a href="/images/2016/04/27/Chart-2-2-580x207.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/27/Chart-2-2-580x207.jpg" alt="">
It is interesting to look at the performance of the Hobart housing market in context with the performance of the Melbourne market. The previous chart shows that in 2003 and 2004 home value growth in Hobart surged. The rate of growth reached a peak of 57.9 percent annual growth in November 2003 and very shortly thereafter the growth performance in Hobart stalled and has been limited ever since.
The surge in Hobart dwellings came following a surge in Melbourne home values and at a similar time to which the rate of growth in Melbourne values began to slow.  Ever since the end of the last surge in home values in Hobart, Melbourne has recorded strong rises in home values while growth in Hobart has been minimal.
Melbourne has obviously recently seen a large surge in home values meaning that many home owners have substantial levels of equity in their property. Investment in the Tasmanian housing market which offers much lower home values and superior yields may be looking attractive for those in Melbourne looking for a lifestyle investment.
<a href="/images/2016/04/27/Chart-3-2-580x207.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/27/Chart-3-2-580x207.jpg" alt="">
While value growth in Hobart is picking up, transaction volumes are relatively steady from where they were at the end of last year and virtually unchanged from a year ago.  In comparison, most other capital city housing markets are actually recording fewer property transactions than they were a year ago.
<a href="/images/2016/04/27/Chart-4-2-580x206.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/27/Chart-4-2-580x206.jpg" alt="">
Looking at the current market, listings provides one of the best guides about the balance between buyers and sellers.  As listings move lower, buyers have less choice and vendors can be less flexible on their price expectations which can push values higher.  Over the 28 days to 17 April 2016 there were 376 newly advertised properties added to the Hobart housing market and 2,189 total property listings. 
New listings are 1.3 percent higher than they were a year ago and fairly flat over recent weeks.  Meanwhile, total listings are -26.2 percent lower than they were a year ago and as the table shows they are trending lower.  In fact, the number of listings is at its lowest level since October 2010.  With new listings slightly higher than a year ago and total listing much lower it suggests that there is limited new supply coming to the market with increasing demand which is causing total listing volumes to trend much lower.
<a href="/images/2016/04/27/Chart-5-2-580x210.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/27/Chart-5-2-580x210.jpg" alt="">
One of the main drivers of the surge in Hobart home values in 2003 and 2004 was the positive migration trends for Tasmania.  The above table shows that in 2003 and early 2004 both net overseas and net interstate migration were positive.  The chart also shows that typically there is an outflow of residents of Tasmania to other states and territories while net overseas migration is usually positive.  Over the past few quarters, for the first time in a number of years, net interstate migration to Tasmania has been positive.  It is still early days but should this trend continue over the coming quarters it could be a positive for the Tasmania housing market.
<a href="/images/2016/04/27/Chart-6-1-580x208.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/27/Chart-6-1-580x208.jpg" alt="">
People will generally only move to a new region if they are reasonably comfortable that they can find employment.  The unemployment rate in Tasmania has ticked up over recent months and job creation has slowed which may act as a deterrent to make the move to a market like Hobart.  However, if we look at 2003 and 2004 when home values were surging and migration to Tasmania was quite strong, job creation was stronger although the unemployment rate was in the high 6% to low 7% range compared to a similar 6.9% currently.  Keep in mind that some people will move to Tasmania and Hobart as a lifestyle choice so they may be able to do their current job remotely or may commute back to the mainland a few days a week / each month.  Furthermore, a proportion of people that move interstate would be retirees and therefore their decision is not reliant upon securing employment.
<a href="/images/2016/04/27/Chart-7-1-580x213.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/27/Chart-7-1-580x213.jpg" alt="">
Tourism is likely to be a growing source of employment for those living in Tasmania.  According to data from Tourism Research Australia, international visitor numbers to Tasmania increased by 19.6 percent in 2015 and have increased by 53 percent over the past five years. Meanwhile, domestic overnight trips to Tasmania increased by 17.3 percent in 2015 and have increased by 40 percent over the past five years.  Should the ramp-up in tourism continue it will create even more employment opportunities in the local economy.
When you look at the housing and economic indicators for Hobart it looks like the market is well positioned to see an increase in the rate of housing demand and subsequently home values over the coming year.  Of course Hobart also has the advantage of being a substantially more affordable housing market than all of the other capital cities.  Any of these indicators could change and most importantly if job creation picked up pace and the unemployment rate fell it would provide further positives for the local market.  Nevertheless, it looks as if the fundamentals are in place for a long-awaited improvement in value growth for the Hobart housing market.
 Cameron Kusher is research analyst for CoreLogic RP Data. You can contact him <a href="https://blog.corelogic.com.au/about/">here</a>.
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Hobart's time to shine: Cameron Kusher

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Architects, sustainability experts and influential property executives are amongst those chosen as the judging panel for this year's retail-focused Living Building Challenge design competition.  
The judges will select a winner based on the entry that best responds to the question, ‘what does the world’s most sustainable retail centre look like?’  
Living Future Institute of Australia (LFIA)Vice-Chair Stephen Choi said the judges for The Brickworks Living Building Challenge design competition are well known and highly respected, not just in property circles but in different industries and in different capacities. 
"Each is a genuine thought leader and we appreciate their commitment,” Mr Choi said. 
"It is time for ‘best practice’ in retail centre development to mean much more than simply enabling natural airflow and daylight. 
“The shopping centre of the future is one that attracts even more foot traffic, is a place to be enjoyed, is aesthetically pleasing, functions beautifully, promotes positive health and wellbeing for visitors and employees, and has a net positive impact on its environment."
Over 40 registrations for the Brickworks Living Building Challenge design competition have been received since the competition was launched in Melbourne last month.
The Brickworks Living Building Challenge design competition is coordinated by the LFIA, the local arm of the Seattle-based International Living Future Institute. Frasers Property Australia is the Principal Partner for the design competition and the company’s Brickworks site in Melbourne is the subject retail centre for entrants to apply their progressive thinking to. 
The judging panel includes:
Caroline Pidcock - Director of architectural firm PIDCOCK – Architecture + Sustainability
<img src="/images/2016/04/27/carolone.jpg" alt="" width="572" height="449">
Kate Doyle – as CEO of the Architects Accreditation Council of Australia (AACA), Ms Doyle has worked extensively with the educators, curators and communicators that shape Australia’s architectural landscape. 
<img src="/images/2016/04/27/doyle.jpg" alt="" width="559" height="413">
John Romano – Mr Romano has clocked up an impressive 30 years with Telstra in a variety of senior positions and currently heads up Telstra’s Property division. 
<img src="/images/2016/04/27/John_Romano.jpg" alt="">
Daryl Browning – As CEO of ISPT, Mr Browning has accumulated more than 30 years’ experience in the property investment and management sector, including in financial services and funds management. 
<img src="/images/2016/04/27/daryl_browning.jpg" alt="">
Natalie Isaacs – Having founded 1 Million Women in 2009, Ms Isaacs has helped shape how women and girls fight climate change by changing the way they live, with the movement now around 400,000 women strong - and counting. 
 
Peri Macdonald – Currently the General Manager - Retail at Frasers Property Australia, Mr Macdonald has been involved in the acquisition, development and management of over $1 billion of new and redeveloped neighbourhood and sub-regional shopping centres across Australia. 
 <img src="/images/2016/04/27/Frasers_Property_PeriMacdonald_05-2.jpg" alt="" width="664" height="531">
Entries close on May 6.
For more information, <a href="https://living-future.org.au/the-brickworks-living-building-challenge-design-competition/" target="_blank">click here</a> or <a href="http://propertyobserver.com.au/forward-planning/tools/ebooks-and-webinars/52152-australia-aspires-to-global-green-leadership-the-living-building-challenge" target="_blank" style="line-height: 1.3em;">download our eBook</a>.
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Judging panel appointed to world's first retail based sustainability design challenge

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<img src="https://counter.theconversation.edu.au/content/57114/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Prime Minister Malcolm Turnbull has said he will call a July 2 double-dissolution election if the Senate does not pass legislation aimed at restoring the Australian Building and Construction Commission (ABCC).
The PM has said that:
<ul>
<li>since abolition of the ABCC, days lost to industrial disputes have increased by 34 percent;</li>
<li>two-thirds of all industrial disputes in Australia are in the construction sector and;</li>
<li>industrial disputes in Australia are at their highest level since 2010.</li>
</ul>
Are those assertions correct? Let’s check the data.
Are days lost to industrial disputes up 34 percent since the ABCC was abolished?
The ABCC was introduced in 2005, under the Howard government. Labor abolished the ABCC in March 2012 and replaced it with the Office of the Fair Work Building Industry Inspectorate.
When asked for a source to support his assertion about the 34 percent increase, the PM’s spokesman sent a table drawing on figures from the Australian Bureau of Statistics (ABS) data set on industrial disputes:
The spokesman said that:
ABS data suggests the introduction of the ABCC in late 2005 helped to reduce the rate of industrial disputes in the construction industry.
<ul>
<li>Pre-ABCC, the number of working days lost per 1000 employees in construction was five times as much as for all industries (56.1 versus 10.4 days).</li>
<li>During the ABCC’s operation, this dropped to around two times as much (9.6 days versus 4.2 days).</li>
<li>Since the ABCC’s abolition, the number of working days lost per 1000 employees in construction has averaged around 4.5 times the rate for all industries.</li>
</ul>
Indeed, we can clearly see from the graph below that, in construction, working days lost due to industrial disputes fell after 2005 and stayed low to 2009. Then, there was an increase in 2010 and big spikes in 2011 and 2012.
The big spikes in construction sector working days lost due to industrial disputes in between 2010 and 2012 coincided with several large construction sector <a href="https://www.fwbc.gov.au/fwbc-secures-200000-finding-against-cfmeu-and-mcdonald">disputes</a> and strikes.
As reported elsewhere, a 2014 Productivity Commission report concluded that:
The evidence that the ABCC stimulated material improvements in aggregate productivity or achieved cost reductions is weak… The ABCC is likely to have had its primary impact on unlawful conduct and on local productivity and costs at particular sites.
By taking the average number of working days lost in the construction industry (per 1000 employees) during the ABCC era and comparing it with the average number of working days lost in the construction industry (per 1000 employees) in the post ABCC era, it is possible to conclude it has risen 34% (or 3.3 days).
The PM’s statement is supported by ABS data.
Are two-thirds of all industrial disputes in Australia in the construction sector?
This assertion only true for the December 2015 quarter – which happened to be unusually high.
In other quarters, construction accounted for a much smaller proportion of working days lost, as the chart below shows:
Working days lost in construction due to industrial disputes has been consistently higher than the average across all industries since 2012.
It’s worth noting though, that the same data set, at certain time points, puts working days lost due to industrial disputes in the coal mining sector at much higher than construction.
The coal mining industry disputes were happening at the peak of the mining boom. Days lost due to industrial disputes spiking in 2010 and 2012 when a shortage of workers on major projects put unions in a strong bargaining position.
To sum up: the PM’s assertion that two-thirds of all industrial disputes in Australia are in the construction sector is correct for December 2015 only.
Overall, however, his comment is misleading because he is using the unusually high December 2015 quarter as a benchmark. The long run average for construction for 2010 to 2015 is just under 30% of all days lost (still the highest share of any industry). The average between 2005 and 2009, with the ABCC, was around 10% of all days lost.
Are industrial disputes in Australia at their highest level since 2010?
As shown in the chart below, ABS data shows the total number of industrial disputes in the 12 months ending December 2010 at 227. For the 12 months ending December 2015, the figure is 228.
What that time frame doesn’t show you is that, overall, the number of industrial disputes has declined greatly in the last few decades. The longer term trend is depicted in the chart below:
So the PM’s assertion that industrial disputes in Australia at their highest level since 2010 is correct, but relies on a selective choice of time periods.
The rate of industrial disputes has been trending down in recent decades, basically following the fall in trade union membership.
Verdict
It’s true that days lost to industrial disputes in the construction sector (reported to the ABS) have increased since 2010. They are now running at a higher level than when the ABCC was operating – at about 34% higher for the time periods indicated.
The PM’s statement that two-thirds of all industrial disputes in Australia are in the construction sector is correct for December 2015 only. Overall, his comment is misleading because the PM is using the unusually high December 2015 quarter as a benchmark. The long run average for 2010 to 2015 is just under 30 percent of all days lost (still the highest share of any industry). The average between 2005 and 2009, with the ABCC, was around 10 percent of all days lost.
The PM’s assertion that industrial disputes in Australia are at their highest level since 2010 is correct, but relies on a selective choice of time periods. There were more disputes in March 2010 and December 2009 than December 2015. However, for the time period he referred to, the claim is correct. 
Gerard de Valence is senior lecturer, University of Technology Sydney and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/gerard-de-valence-105933" target="_blank">here</a>.
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Are two-thirds of all industrial disputes in Australia in the construction sector?

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Mowbray College in Caroline Springs Victoria has been put on the market, with expectations of around $11 million.
The site, 183-191 Caroline Springs Boulevard site, one of three campuses of the former Mowbray College that went into liquidation in mid-2012. It has been listed by Savills Australia agents Julian Heatherich, James Lockwood and Nick Peden.
The site has three street frontages it and is diagonally opposite Lake Caroline and retail precinct.
The 12,500 square metre property has frontages totalling 295 metres with educational buildings total around 3370 square metres.
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Mowbray College site on market with $11m expectations

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A freestanding property in southern Sydney's Kingsgrove occupied by the Salvation Army went under the hammer for $3.25 million at auctionWorks' commercial property auction in Sydney on April 19.
The order of sale had four properties listed, but one was sold prior while the world class winery Sweetwater in the rolling hills of the Hunter Valley was withdrawn. The fourth was passed.
The one at 61-65 Kingsway Road property was well bid, with offers quickly rising from $1 million to $2.6 million, but auctioneer Jesse Davidson said it was still below the reserve price.
Finally, the last two bidders pushed the price past $3 million.
The selling agents were JLL's Edward Washer and Blair Peterken.
The total building area is 678.1 sqm and the flexible zoning allows for a child care centre, commercial owner occupiers, medical centres and more subject to council approval.
The property is close to Beverly Hills Train Station and 14 km from Sydney CBD.
In contrast to the competitive bidding for the Kingsgrove property, the one in Liverpool was passed after the sole bid of $375,000 fell short of the vendor bid of $395,000.
Suite 107, 161 Bigge Street is a medical suite with an internal space of 104 sqm and annual income of $33,119.52 + GST net. It is leased until October this year.
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Sydney's Kingsgrove property sells for $3.25 million at auction

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Wholesale flooring distributor Premium Floors Australia has signed a lease on its newest warehouse and head office in Melbourne's Dandenong.
The property is located at 81-87 South Park Drive and the company has signed on a seven-year lease. 
CBRE’s James Jorgensen and Stephen Adgemis, along with Andrew Loudon from Crabtrees Real Estate, brokered the deal on behalf of Scaunich Investments Pty Ltd.
“Premium wanted a property that reflected its corporate image, and after an exhaustive search of the market, 81-87 South Park Drive was identified as an ideal option,” Andrew Loudon of Crabtrees Real Estate said.
Jorgensen said the property’s location and size were the main drawcards.
“Despite reasonably high vacancy levels in the south-east, there remains little choice available for tenants looking to buy/lease buildings circa 5,000 sqm,” Jorgensen said.
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Flooring distribution firm signs lease deal for office in Melbourne's Dandenong 

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A Sunshine Coast hinterland resort catering to bed and breakfast, small conference and boutique wedding market is up for sale through auction on May 19.
The 4-½ star Maleny Views Cottage Resort and Conference Centre at 1 Panorama Place, Maleny, is being offered as an investment opportunity with the existing managers committed to a long-term lease agreement.
The property is on a land area of about 4,267 sum and generates a net income of nearly $136,036 per annum.
It is being marketed by Ray White Commercial Caloundra’s Len Greedy, Alan Gray and Luca Reynolds.
Gray said the resort is in a picturesque location near the townships of Maleny and Montville and enjoys coastal views.
“There are views from the cottages to the coastline and extending southward to the Glasshouse Mountains as the land is elevated and set above the road level,” he said.
<img src="/images/2016/04/22/Screen%20Shot%202016-04-22%20at%209.16.07%20PM.png" alt="">
The resort comprises three cottages each containing two studio cabins, a penthouse and studio villa, reception and conference facilities, wedding gazebo and swimming pool.
It also has a separate three-bedroom manager’s residence.
<img src="/images/2016/04/22/Screen%20Shot%202016-04-22%20at%209.14.34%20PM.png" alt="">
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Sunshine Coast hinterland resort to go under the hammer 

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DEXUS Property Group (DEXUS) and DEXUS Wholesale Property Fund (DWPF) announced on Friday the settlement of the acquisition of 90 and 100 Mount Street in North Sydney for an initial price of $41 million.
DEXUS and DWPF will develop 100 Mount Street, North Sydney as a 34-level office tower spanning 41,163 square metres, said a release on the ASX.
The site is on the corner of Mount and Walker Streets with a third street frontage to Spring Street. It has retail exposure and is close to transport.
Th tower will have Harbour views from its eastern and southern aspects.
Development on the site has already started and completion is expected in 2018.
The developer has already secured a long-term lease across 6,229 square metres with Laing O’Rourke Australia from completion in 2018.
Recently, DEXUS Property Group had a high-profile departure when Craig Mitchell quit as chief operating officer for the CEO’s role at Grocon Pty Ltd.
 
</div>
</div>
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