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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If you rely on mainstream media for your news, you probably won’t be aware of this: there has been a significant improvement in housing affordability in Australia recently.
In fact, my reading of the HIA’s Affordability Report for the March Quarter is that the Housing Affordability Index for Australia is now the best it’s been in five years. In some parts of the nation, the situation is the best it’s been in 13 years.
Affordability nationally improved 2.7 percent in the March Quarter, compared to the December Quarter, despite slightly higher interest rates.
Affordability is significantly better than it was five years ago, because interest rates are much lower (notwithstanding the recent out-of-cycle increases), average earnings have been gradually rising and price growth (meaning changes in the national median dwelling price) has been relatively muted, despite three years of big growth in Sydney.
Very little was said about this in Australia’s major newspapers. They’re simply not interested in facts that conflict with their cherished storylines about an affordability crisis, young Australians being priced out of the market by foreign investors and negatively-geared Australian investors, and the Great Australian Dream being dead.
A long-standing joke in journalistic circles is that you never let the facts get in the way of a good story. A good story is, by definition, a negative one. If it bleeds, it leads. If something comes along that doesn’t fit the formula (for example, portrays a positive scenario or contradicts beloved beliefs), bury it. 
So we have a situation where the national affordability index portrays a strong position but few people realise it. The national median dwelling price has decreased and average earnings have risen. The situation would be better were it not for major banks lifting their mortgage rates. 
That’s the average national situation. As the HIA report points out, “the differences in affordability across and within states are still considerable”.
In aggregate, affordability improved 4.1 percent in the eight capital cities in the March Quarter, with a lesser improvement in the regional areas.
Sydney’s quarterly improvement was considerably larger than the national average. It recorded an 8.9 percent increase in affordability, while Perth was 4.9 percent better and Darwin 4.4 percent.
Sydney’s affordability is now at its most favourable since the March 2015 Quarter. Price growth has stopped and incomes have risen. But it still has some way to go before it gets in line with the national average situation of being the best in over five years. Regional NSW, on the other hand, needs only a marginal improvement to achieve that.
Melbourne’s affordability index has improved with a slight reduction in the median dwelling price and increases in earnings, but remains 4.4 percent less favourable than a year ago.
Brisbane’s affordability position, on the other hand, has deteriorated because the median dwelling price is up and average earnings are down (slightly). 
But in Perth the affordability index improved 4.9 percent in the quarter and 9.9 percent for the year, because prices have been falling and incomes, surprisingly perhaps, have risen. Perth’s affordability position, and that of Western Australia generally, is the best it’s been for a long time. “Statewide affordability in WA is at its most favourable since the final quarter of 2003,” the HIA report says.
The position has improved also in Hobart and Tasmania. There the economy has been making notable strides and income growth is well above the national average. The HIA notes: “For Tasmania as a whole, affordability has reached its most favourable level since late 2003.” 
In the Northern Territory, the housing affordability index is 11.3 percent better than a year ago. And it’s better than it’s been any time in at least the past five years. Darwin’s index has improved 13.9 percent compared to a year ago. The Darwin market peaked more than three years ago and prices have been trending downwards since then, but average earnings have been rising.
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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Significant improvement in housing affordability: Terry Ryder

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Demand for strata office property in the Melbourne CBD has grown in the first quarter of the year, as evident from a recent sale for $1.75 million and another lined up, according to Colliers International.
A 320 sqm whole floor at Level 8, 21 Victoria Street was bought by a private investor for $1.75 million. The sale, through Colliers, represented a yield of 5.62%.
Colliers International executive for Melbourne City Sales, Chris Ling, said the first quarter of 2016 had seen significant demand for CBD strata floors, including both investments and vacant floors.
Another office suite, spread over 360 sqm on the mezzanine level of 58 Franklin Street, is due to hit the market in coming weeks.
Colliers International expects the whole floor, close to Melbourne’s core retail and university precinct, to attract interest for both commercial use and potential residential conversion.
“Our Melbourne City sales team is currently seeing an unprecedented surge in demand for CBD strata office properties in the CBD,” Ling said. “This demand is powered by record low interest rates, a low Australian dollar and instability in offshore markets.
“In addition, given the current timing in the calendar year, business owners and operators are looking to secure new office space to set themselves up for the rest of the year. CBD vendors, meanwhile, are piggy backing off the momentum seen throughout 2015 in order to capitalise on the current environment.”
The property on Victoria Street saw strong competition between local and offshore buyers and sold prior to the close of the EOI campaign, Ling said. 
In 2015, Colliers International recorded more than $35 million in strata office sales in the CBD, with an average sale price of $1.95 million and an average size of 367 sqm.
According to the latest Colliers International CBD Office Research &amp; Forecast Report, Melbourne’s CBD market continued to go from strength to strength, with high levels of net absorption and a corresponding low vacancy rate. The vacancy rate for the Melbourne CBD dropped to 7.7% in Q1 of 2016, dropping to as low as 5.1% in the north eastern pocket.
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Victoria St office fetches $1.75 million as strata office demand rises in Melbourne

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The former petrol station at Dulwich Hill - which has almost shrine like status for devotees of the conservative Prime Minister John Howard - has been listed for sale as a residential development site.
It was the corner servo where the future 25th Prime Minister cut his teeth in the family's battling small business in the 1940s.
The Wardell Road offering will go to auction alongside an adjacent property.
They have a combined price guide of between $3.8 million and $4.2 million.
Born in 1939 John, like his older brothers, Wal, Stan and Bob pumped petrol at weekends for his father who was a supporter of the then newly-formed Liberal Party.
They lived through the post-war turmoil of a long coal strike and petrol rationing, and although he was only 10, John Howard maintained a clear recollection of the 1949 election campaign that brought his hero, Robert Menzies to power.
"I can remember listening to the policy speeches on radio with my father," he told journalist Craig McGregor in 1982.
"I can remember the talk around the house, which was very anti-Labor. It had a particular bias because of petrol rationing.
One of Menzies' slogans had been "Empty out the Chifley socialists and fill up the bowsers." 
John Howard also recalled the family elation on the night of the Menzies election and of a celebratory backyard bonfire to burn the rationing coupons. 
Howard's garage proprietor father, Lyall, who died in 1955, had bought into the business with his own father, Walter who'd purchased the property in 1930. It was the family's livelihood for decades. 
The two properties are being marketed as offering "enormous capital growth potential" coupled with a good holding income.
According to the listing agent, Luke Smith, at Raine &amp; Horne Commercial, the combined 455 square metre site was producing $153,868 revenue annually plus GST. 
The site also has a 2.6:1 floor space ratio, which will attract developers keen to land-bank. 
“This auction represents a rare opportunity to purchase a site in Dulwich Hill,” he added.
It is located just 100 metres from Dulwich Hill train station and the light rail. 
“Buyers can look forward to achieving strong re-sales as part of any future redevelopment,” said Mr Smith.
Over the past two years, five projects have been completed within 100 metres.
<img src="/images/2016/04/21/Lyall20Howard27s20Garage.jpg" alt="" width="2054" height="1092">
Mr Smith believes the property’s links to Australia’s 25th Prime Minister might attract some buying attention.
269 and 271-275 Wardell Road will go under the hammer on May 24.
The garage, on the corner of Wardell Road and Ewart Street, was sold for $100,000 by the family to a Greek immigrant in the mid-1980s, well ahead of John Howard's 1996 election triumph.
He once referred to the days of pumping petrol to empathise with drivers at high petrol prices.
"I know people are feeling it. I learned from a very early age that when you fill your car up you actually look at that click, click, click," he said, referring to the now obsolete bowser price counters.
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Former PM John Howard's Dulwich Hill family petrol station for sale

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Charter Hall Group is in exclusive due diligence to acquire the 100 per cent leasehold interest in Macquarie Group's headquarters on Sydney's King Street Wharf precinct for more than $500 million from Brookfield Office Properties. 
The sale of 1 Shelley Street could be one of the most closely watched commercial sales this year and is expected to set new benchmark yields for core property in the CBD. The office tower, next to the Barangaroo development, could sell on a yield of close to 5 per cent, according to a report in the Australian Financial Review.
Charter Hall is likely to tip the 11-storey building into its $2.6 billion wholesale Core Plus Office Fund. CPOF was the top performing unlisted office fund in 2015 with a 20 per cent return and earlier this week bought 130 Lonsdale Street in Melbourne, the AFR said.
The deal, if it goes through, will be the second major office property in Sydney's CBD to sell to a local institutional player this month after the Investa Commercial Property Fund paid $443 million for a majority stake in 420 George Street earlier this month.
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<div>One of the key reasons for Sydney's appeal is the strengthening office market. In the Sydney CBD, the vacancy rate in the March quarter dropped to just 6.8 per cent - the first shift under 8 per cent since the financial crisis, according to global real estate group, JLL </div>
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A Charter Hall spokesman declined to comment when contacted but it is understood to be in the early stages of due diligence. CBRE and Savills, who marketed the property, did not comment. 
Charter Hall beat the competition, including UOL out of Singapore and AMP's wholesale office fund, for the deal.
The Macquarie headquarters is one of two Sydney assets Brookfield put on the market to fund its development pipeline. The other is a half stake in KPMG Tower at 10 Shelley Street but it is understood no party is in due diligence yet, the AFR said.
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Charter Hall Group enters due diligence on Sydney's Macquarie HQ for $500 million

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The former Underdale &amp; Airport Bowling Club site in Adelaide has been bought by a private developer for $2.975 million after an expression of interest campaign.
The developer plans to turn the 189 Holbrooks Road, Underdale site into a retirement village, said selling agent David Ente of Raine &amp; Horne Commercial SA.
The Underdale &amp; Airport Bowling Club was established after the First World War when members were gifted land by a local winery. 
The property came onto the market recently following a merger between The Underdale &amp; Airport Bowling Club and nearby Hindmarsh Bowling Club. The merged club is now known as Torrensville Bowling Club.
“The Underdale site is now surplus to the merged club’s requirements, but unlike the famous movie <a href="https://www.imdb.com/title/tt0291832/" target="_blank">Crackerjack</a>, starring Mick Molloy, which tackled bowling club closures, Torrensville Bowling Club will use the sale proceeds to build Adelaide’s first all-weather green at its Torrensville site,” said Ente.
“The Underdale property could also have been utilised for an aged care facility or childcare centre subject to the usual consents.”
The property is close to the Adelaide CBD, airport and shopping precincts. 
The existing clubrooms are nearly 485 square metres and the former bowling club is within the City of West Torrens and is zoned as Residential Policy Area 21. 
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Adelaide bowling club lands crackerjack $2.975 million sale

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Industrial land prices along Brisbane's Trade Coast have recorded their second quarterly increase according to the Brisbane industrial briefing for April from Savills.
Savills recorded around $1.133 billion worth of industrial property transactions under $2 million in the 12 months to March 2016, an increase from the $1.019 billion recorded in the previous year, and up on the five year average of $779 million.
According to the report private investors are also starting to emerge within the sub $2 million price range  - a sure a sign that confidence is beginning to return to the market. 
"Buyers within the $2 million to ten million dollar price range remain the most active with 75 percent of industrial sales for the year ending March 2016," Savills reported.
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"Englobo land sales continue to dwindle within the Brisbane metropolitan area due to a lack of availability within the key industrial precincts. A number of industrial properties sold over the year however had subsidiary land available for further development, such as the sale of 1-5 Bishop Dr, Fisherman Island which reportedly included an additional three hectares of land suitable for further industrial accommodation.
"The highlight of the year remains the $1.073 billion purchase of the GIC portfolio by Singapore based Ascendas. The portfolio included assets from Victoria, New South Wales and Brisbane. There were seven Brisbane properties included in the deal amounting to $317.2 million."
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Sub $10 million price bracket driving Brisbane industrial market

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Competition for scarce assets is compressing yields in Melbourne’s inner east, with a Chinese group subsidiary paying $17 million on a tight four percent yield for a property in Hawthorn.
The sale was through an expressions of interest campaign managed by Teska Carson and attracted more than 200 enquiries from local and off-shore investors. Ultimately, it was snapped up by LYZ Property Group.
The 283-285 Burwood Road property comprises 4,509 square metres of building area over two levels on a 2,655 square metre site with Commercial 1 zoning. 
The property is securely leased to Snooze on a 10-year term with seven years remaining, and National Storage on a 15-year term with four years remaining, at a total current net return of $682,660 per annum.
LYZ, known for its high-end apartment projects, including the Elenberg Fraser designed Chiara and Lucia projects in Daly Street, South Yarra, would hold the property as a long-term investment with potential for redevelopment, according to selling agents Tom Maule and Michael Taylor. 
Maule said the property attracted enormous attention from a market starved of opportunities in the early part of the year.
"We had enquiry from more than 200 parties including privates, developers, high net-worths, local and off-shore. Given the lease profile, this was a pure investment play and as such has sold on a sharp yield which is in record territory for this type of property in Hawthorn,’’ Maule said.
"We have plenty of enquiry but while the investors are still out there owners have not been out there in the same numbers."
LYZ Property Group parent, Hengmao Group, has been involved in several developments in China totalling more than two million square meters of residential property and mixed-use projects including Hengmao Metropolis a 500,000 square metre community living complex including a 100,000 square metre shopping mall.
The vendor was a local private investor.
 
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Melbourne's Hawthorn site sells for $17 million on a tight 4% yield 

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Industrial sites in Brisbane’s inner north are hot picks, as indicated by the results from two recent sales. 
The first site at 31-37 Bunya Street, Eagle Farm, (above) sold for $850,000 plus GST. At 1,618 sqm, the sale represents a land rate of $525 per sqm.
The site offers nearly 310 sqm of warehouse/storage space and features a demountable office and amenities block. The site was acquired by the owner of the adjacent block, who plans to utilise the General Industry B zoning for future development.
The second sale at 235 Robinson Road, Geebung sold for $1.4 million. A 3,408 sqm vacant corner site, it has the potential to accommodate a number of retail, wholesale and industrial businesses.
CBRE’s Dan Munnich and Nick Witheriff brokered the sale of the two sites.
Munnich said both sites sold well above the reserve, demonstrating the strong demand for industrial sites.
“Both auction campaigns attracted over 20 enquiries, with approximately eight registered bidders present on each auction day," added Witheriff.
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Two industrial sites in Brisbane sell above reserve at auction 

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A tenanted industrial site with future development upside at Noosaville on the Sunshine Coast has fetched $948,000 through Ray White.
The property on two titles at 5 Production Street was sold to a Brisbane-based investor for a yield of 11 percent.
The 4,096 square metre site has a 1,010 square metre tenanted building.
It is currently leased for a rental of nearly $105,850 per annum with a five-year lease expiring in 2019.
“There is the ability to approximately double the shed space subject to council approval. The site is on two titles and underutilised in terms of under-roof area,” said selling agent John Petralia of Ray White Commercial Noosa and Sunshine Coast North.
“It was a great result as the property was originally listed for sale via an offers to purchase campaign before it was decided to go to auction.”
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Tenanted Noosaville industrial site sold at auction for $948,000

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Foreign investors have been driving the industrial property market in Sydney over the 12 months to March 2016, accounting for 46 percent of industrial stock sales according to Savills.
The total dollar value of these transactions came exceeds $865 million, according to the April industrial briefing from Savills.
According to the report, foreign investors are looking for industrial property due to the typically high yielding and generally long lease expiry profiles attributed to these assets.
"The fourth quarter of 2015 saw Singaporean giant M&amp;G Investments, increase its Australian real estate exposure, paying $79.75 million in November for two Sydney industrial properties, in Ingleburn and Erskine Park," the report said. 
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