Family-owned builder and developer <a href="https://www.apartments.com.au/developers/omaya">Omaya</a> is bringing its 27-storey The Maybelle development to market, with the 229-apartment tower rising alongside Ismay Reserve near North Strathfield.

<a href="https://www.apartments.com.au/new-apartments/the-maybelle-21-parramatta-road-homebush-nsw-2140">The Maybelle</a> will comprise one, two and three-bedroom apartments, with its height providing elevated outlooks towards the Sydney skyline and Harbour Bridge, while other residences will look across neighbouring Ismay Reserve.

Designed by <a href="https://www.apartments.com.au/architects/squillace-architects">Squillace Architects</a>, the tower combines its parkside setting with proximity to the established retail, dining and transport amenity around North Strathfield.

[smartcode_project:default project_id=134873 project_image_fid=376196]

Residences will feature open-plan living spaces and a choice of two interior schemes, while communal amenity is spread across two elevated levels of the building.

Level 8 will be home to the Garden Pavilion, a full-floor resident space incorporating communal entertaining and breakout areas, seating and recreation spaces. Further up the tower, a landscaped Sky Terrace on Level 14 will provide another communal area with panoramic views towards the Harbour Bridge and Sydney skyline.

At ground level, the development sits directly alongside Ismay Reserve, where lawns, walking paths, children's play areas, picnic spaces and recreational facilities extend the green space available immediately around the project.

[smartcode_project:default project_id=134873 project_image_fid=376194]

The Maybelle is also within walking distance of North Strathfield and the Bakehouse Quarter, which provides a mix of cafés, restaurants, shops and everyday services.

Existing rail and bus services provide connections across Sydney, while the future North Strathfield Metro and access to the M4 will add to the transport options available around the precinct. Walking and cycling routes also extend via Powells Creek towards Sydney Olympic Park and its sporting, entertainment and parkland precincts.

Families are also well positioned for access to a broad selection of established schools and education options across Strathfield and the surrounding Inner West.

[smartcode_project:default project_id=134873 project_image_fid=376181]

Omaya has operated in Sydney for more than 35 years, managing projects from acquisition and design through to construction and delivery. The family-owned company is both developer and builder of The Maybelle.

Apartments start from $560,000, with the development protected by 10-year Latent Defects Insurance.

Construction is well underway, with completion expected by the end of 2026 and move-in anticipated from Q1 2027.

[smartcode_project_cta:default project_id=134873]

Joel Robinson

The Maybelle brings 27-storey parkside tower to market near North Strathfield

Melbourne developer <a href="https://www.apartments.com.au/developers/pdg-corporation">PDG</a> has unveiled its vision for the former Water Tank Site in Ivanhoe, which would see it transformed into a thriving residential neighbourhood, complete with a 2000 sqm public park.&nbsp;

Delivered in partnership with <a href="https://www.apartments.com.au/developers/development-victoria">Development Victoria</a>, the proposal would transform the prominent corner of Bell Street and Upper Heidelberg Road into a connected community comprising two residential buildings, generous public open space and shared amenities.&nbsp;

The vision includes 287 one, two and three-bedroom apartments, with a minimum of 10 per cent allocated to affordable housing, alongside a 2,000-square-metre publicly accessible park featuring a children's playground, activity lawn, indigenous planting, timber climbing logs, seating areas and a rock gathering circle.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/dko-architecture">DKO Architecture</a>, the proposal draws on the site's industrial heritage, using a robust architectural language that references the former water tank through expressive structural elements and durable, self-finished materials.&nbsp;

Extensive landscaping has been woven throughout the development, creating a living landscape that strengthens connections to nature while responding sensitively to the surrounding neighbourhood. Two residential buildings ranging from three to 12 storeys are linked by a landscaped forecourt, creating a welcoming arrival experience and improving pedestrian connections through the site.&nbsp;

Residents would also enjoy more than 1,000 square metres of communal open space, including barbecue and dining facilities, vegetable gardens, landscaped seating pavilions and a dedicated coworking space.&nbsp;

PDG Founder and Managing Director Vince Giuliano said the vision reflected an opportunity to transform one of Ivanhoe's most recognisable sites into a place that balanced housing, community and landscape.&nbsp;

"This is an opportunity to reimagine an important site and create a neighbourhood that delivers lasting benefits for Ivanhoe," Giuliano said.&nbsp;

"We're creating much more than new homes. The vision brings together affordable housing, quality architecture, meaningful public open space and shared places that encourage people to connect, while respecting the site's history and its place within the local community."&nbsp;

Development Victoria’s Executive General Manager Precincts, Niall Cunningham, said the application is an important step for the government-owned site.&nbsp;

“This is about delivering more homes in a well-connected location, along with public open space that the Ivanhoe community will benefit from for years to come,” Cunningham said.&nbsp;

PDG was selected as development partner in late 2025 following a competitive tender process.&nbsp;

A planning submission for the project is currently being progressed through the Victorian Government's Development Facilitation Program, with positive early engagement from both Banyule Council and the Department of Transport and Planning.

PDG unveils plans to transform landmark Ivanhoe Water Tank Site

Shane Wilkinson's <a href="https://www.apartments.com.au/developers/pace-development-group">Pace Development Group</a> has lodged plans for a major residential precinct on the former Presentation College site in Windsor, with an eight-building masterplan ultimately rising to 10 storeys.

The proposal at <a href="https://www.apartments.com.au/new-apartments/167-dandenong-road-windsor-vic-3181">167–187 Dandenong Road</a> spans a substantial 19,027 sqm site and is being progressed across six stages, with the first residential stages comprising 170 homes across four buildings designed by <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a>.

Stage Two will deliver the bulk of the initial housing, with Building A comprising 81 apartments and Building B 49 apartments, both rising to six storeys.

Stage Three will deliver a further 40 homes. The heritage Nagel Building, identified as Building C, will be converted to 12 dwellings, while a new five-storey Building D will comprise 28 apartments at the Hornby Street and Dandenong Road corner.

The 170 homes across Stages Two and Three will include a mix of one, two and three-bedroom apartments, including townhouse-style dwellings.<img alt="First look: Pace plans landscaped housing precinct on former Windsor school site" data-entity-type="file" data-entity-uuid="83c56e3e-dfb9-4e12-b172-c3f18513ec32" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_9.png?VersionId=xRcRpSZsxX.UX_NDDGcRZktw7HVrzx7u" />

&nbsp;

The longer-term masterplan points to considerably greater density across the site.

Indicative plans show Building E accommodating around 80 dwellings across up to 10 storeys, while Building F is earmarked for around 120 dwellings and also up to 10 storeys. Building G is planned to range between four and 10 storeys, however its apartment yield is yet to be determined. That means the masterplan currently identifies at least 370 dwellings across Buildings A to F before any apartments within Building G are counted.

Across the 1.9-hectare site, that represents an indicative density of at least 194 dwellings per hectare, with the final figure to increase once the yield of Building G is established.

Pace is pursuing the project through the Victorian Government's Development Facilitation Program, with Urbis lodging a combined Section 96A planning scheme amendment and planning application on behalf of the developer, which secured the site earlier this year.

The application seeks detailed approval for Stages One, Two and Three, alongside approval of the broader masterplan framework that will guide the later residential stages. Stage One will see an existing heritage building adaptively reused for a wellness and fitness-related facility, while the broader precinct will retain several significant heritage buildings and established trees as part of the redevelopment.

A minimum 10 per cent affordable housing contribution is proposed across both the initial residential stages and the later masterplan stages, delivered through a discounted rental model.

The project comes immediately after a major change to the site's planning controls.

The site was rezoned to the Housing Choice and Transport Zone through Planning Scheme Amendment GC285, gazetted on July 22, 2026, and now sits within the inner catchment of the Windsor Station precinct under the State Government's Train and Tram Zone Activity Centres Program.

While the new controls identify large sites within the inner catchment for buildings of up to six storeys, Pace's masterplan pushes height to 10 storeys in parts of the site, with the taller buildings concentrated toward the centre and along the Sandringham railway corridor.

Lower-scale built form is proposed toward the site's more sensitive residential and heritage edges, with Buildings A and B generally stepping from three storeys at their interfaces to six storeys at upper levels.

Cera Stribley's masterplan breaks the development into a collection of separate buildings rather than a continuous built form, with landscaped spaces, new pedestrian links and a new publicly accessible road forming part of the precinct.

The planning report says the development will create new pedestrian connections to Elm Place and along the railway corridor, as well as a new publicly accessible road linking Elm Place with Dandenong Road. The proposed buildings will occupy around 54 per cent of the site, leaving a substantial portion available for landscaping, communal areas and permeable surfaces.

Urbis said the scale of the project reflected the site's strategic location close to Windsor Station, tram services and the Chapel Street Activity Centre, with the former school campus identified as a significant opportunity to increase housing supply on an underutilised inner-Melbourne site.

&nbsp;

First look: Pace plans landscaped housing precinct on former Windsor school site

<a href="https://www.apartments.com.au/developers/jl-place">JL PLACE</a>'s Veil Brighton is approaching its final months of construction, with the nine-townhouse development at 17 Rooding Street expected to complete in December 2026.

The milestone is bringing the boutique project closer to becoming a finished part of the <a href="https://www.apartments.com.au/developments/brighton-vic-3186">Brighton</a> streetscape, with much of Brighton's everyday amenity within a short walk.

Palace Cinema, Coles Supermarket and North Brighton Station are all around five minutes on foot from <a href="https://www.apartments.com.au/new-townhouses/veil-brighton-17-rooding-street-brighton-vic-3186">Veil</a>, alongside numerous cafés, restaurants and bars. The station provides a direct rail connection toward Melbourne's CBD, while Bay Street and the wider Brighton retail and dining network add to the range of services accessible without relying on a car for every trip.

"The location was fundamental to the project. Brighton is an established suburb where many buyers already have strong connections to the area and want to remain close to the people, places and amenities that form part of their everyday life," the developer said.

"Veil sits in a highly walkable part of Brighton, with a Walk Score of 90/100."

For buyers looking to right-size within Bayside, that level of walkability adds to the appeal of a more manageable way of living. Everyday shopping, dining, entertainment and public transport can be accessed without relying on the car for every trip, while residents remain connected to the places and routines that make Brighton familiar. It allows buyers to simplify day-to-day life without giving up the convenience, amenity and connections they already value.

[smartcode_project:default project_id=7877 project_image_fid=355754]

As completion approaches, the architecture, landscaping and material palette are progressively becoming visible on site, giving prospective purchasers a clearer view of the finished development beyond its plans and renders.

Veil comprises nine townhouses, predominantly three-bedroom homes with between 2.5 and 3.5 bathrooms, two car spaces and, depending on the residence, study areas and private outdoor space. Selected homes include a bedroom on the ground floor.

Veil occupies a middle ground between detached housing and apartment living, retaining private gardens, storage and secure parking within a more manageable residential format.

<a href="https://www.apartments.com.au/architects/schmidt-pang-architects">Schmidt &amp; Pang</a> designed the architecture around natural light, ventilation, privacy and practical use of space. From Rooding Street, the façade has been composed to read as a cohesive residential building rather than nine individual townhouses, with landscaping by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick Landscape Architects</a> integrated throughout the site.

Inside, natural stone, oak flooring, integrated joinery and brushed nickel finishes establish a restrained material palette, while kitchens include Miele appliances and substantial storage such as pantries. Walk-in robes and dedicated study spaces have also been incorporated across the collection.

[smartcode_project:default project_id=7877 project_image_fid=355852]

The project team said the planning of the homes has been informed by how the spaces function for both daily routines and larger gatherings.

"Our new homes owners at Veil have enjoyed the attention to detail in creating efficient layouts that use every space well. Hosting Christmas lunch and large family gatherings is an ease when care is taken to consider how people really live and entertain."

Private landscaped gardens extend the living spaces outdoors, while secure basement parking and bicycle parking are provided below. The homes have also been designed to achieve a 7-star energy rating, supported by double glazing, high-quality insulation, natural ventilation, LED lighting, water tanks and water-efficient fittings. Each residence is backed by a 10-year building guarantee.

Veil is being built by <a href="https://www.apartments.com.au/builders/jeniton">Jeniton</a>.&nbsp;Limited-time stamp duty savings are also currently available on selected purchases at Veil, adding another consideration as the project moves toward completion.

[smartcode_project_cta:default project_id=7877]

Veil Brighton nears completion in one of the suburb's most walkable pockets

<a href="https://www.apartments.com.au/developers/mosaic-property-group">Mosaic Property Group</a> has recorded 134 sales worth just over $400 million in two months of pre-release activity at The Riversdale, as the developer brings its $750 million South Brisbane riverfront project to the broader market.

The sales represent more than 60 per cent of the project's 213 apartments, with Mosaic reporting the majority of purchasers have been local owner-occupiers and downsizers.

<a href="https://www.apartments.com.au/new-apartments/the-riversdale-by-mosaic-south-brisbane-91-montague-road-south-brisbane-qld-4101">The Riversdale</a> will rise 39 storeys from its north-facing site at 91 Montague Road, delivering a mix of two, three and four-bedroom apartments alongside a collection of Mosaic's premium Masterpiece Series Sky Homes.

[smartcode_project:default project_id=151614 project_image_fid=371872]

The early buyer response comes ahead of the wider evolution of the northern end of Montague Road, where The Riversdale will be one of the first major residential projects delivered within an emerging riverfront precinct.

Directly adjoining the development is a planned 7.1-hectare mixed-use precinct, set to introduce new residences, parkland and public realm along the river's edge. The Riversdale's position directly on the Brisbane River gives it a relationship with the waterfront that Mosaic says cannot be replicated by future buildings within the precinct.

The site is also the result of a years-long pursuit by Mosaic. The developer first earmarked the <a href="https://www.apartments.com.au/developments/south-brisbane-qld-4101">South Brisbane</a> property in 2018, reflecting what Founder and Managing Director Brook Monahan has described as a deliberately patient approach to acquiring development sites.

[smartcode_project:default project_id=151614 project_image_fid=372083]

"We aren't opportunistic," Monahan previously told Apartments.com.au.

"Every site purchase is carefully considered. As seen with Kangaroo Point and South Brisbane, it can take years to eventuate. There are sites we're looking at now that we may not secure for several years."

Designed in collaboration with <a href="https://www.apartments.com.au/architects/bureauproberts">Bureau Proberts</a>, The Riversdale has been shaped around the qualities of the riverfront site, with apartments oriented to capture northern light and uninterrupted Brisbane River views.

Generous floorplans and expansive balconies extend the living spaces towards the river, while natural materials and a restrained interior palette have been selected with longevity in mind.

[smartcode_project:default project_id=151614 project_image_fid=371890]

Residents will have access to a level of amenity more commonly associated with world-class hotels and private members' clubs, with almost 3,000 sqm dedicated to wellness, connection, recreation and everyday convenience.

At ground level is a business lounge, private meeting rooms and dedicated workspaces. Mid-tower is a wellness sanctuary featuring magnesium hot and cold plunge pools, sauna, steam room, infrared therapy facilities, a Pilates and yoga studio, and a commercial-grade gymnasium.

Crowning The Riversdale is a rooftop featuring a 35-metre swimming pool with lap lane and spa, outdoor dining and seating terraces, firepit lounges and views of the city, river and Mount Coot-tha.

A private members' club-inspired retreat offers private dining rooms, a whisky lounge, media rooms and immersive entertainment experiences. Completing the amenity offering are two hotel-style guest suites and a resident-exclusive electric vehicle fleet and car-share program.

[smartcode_project:default project_id=151614 project_image_fid=371877]

The Riversdale sits at the northern end of Montague Road between South Bank and West End, around 1.3 kilometres from the Brisbane CBD, providing access to the city's major cultural, dining and recreation precincts.

It becomes Mosaic's largest Brisbane project to date and adds to a pipeline already under construction across the city.

In Brisbane, the developer is currently delivering The Bedford and The Carter at Kangaroo Point, both of which are approaching sell-out, with a further four projects being delivered on the Gold Coast. Mosaic has completed more than $2 billion in projects since 2012 and has a further development pipeline exceeding $2 billion across South East Queensland.

Early works are underway at The Riversdale, which will be delivered by Mosaic's in-house construction division. Completion is anticipated in late 2029, with remaining apartments priced from $1.98 million.

[smartcode_project_cta:default project_id=151614]

Mosaic records more than $400m in two months at South Brisbane's The Riversdale

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 top 20 locations in Australia for long-term capital growth are all regional locations.
That may surprise many people because the general theme in media is that the capital cities out-perform their regional markets. 
The misconception arises when research houses spit figures out of their computers and rush them off to media without providing any analysis of the realities behind the generalised figures.
A general figure describing growth in regional New South Wales will often produce a low growth figure because there are lots of mediocre small town markets, which drag down the average. The generalised number for regional Queensland will be low because there are numerous markets in decline, thanks to their links to the resources sector and/or developer oversupply. 
But the best individual towns often deliver higher long-term growth than the best of the capital city suburbs.
The latest Hotspotting survey for the Capital Growth Superstars report - examining long-term capital growth rates for every suburb and town in Australia - shows that, once again, the best growth rates are all regional.
The best of the capital cities are two suburbs of Darwin, Gray and Fannie Bay, which average 10.2% per year. But that’s barely good enough to make the Top 20 list for regional Australia.
The Top 20 regional locations have growth rates ranging from 10.2% to 20.7% per year.
Most of them are mining towns, resources regional centres or country towns boosted by recent resources activity. This is despite the sharp decline in prices in many resources-impacted towns over the past 2-3 years.
But the No.1 location in Australia for long-term capital growth is not a mining-related location. It’s the oddly-named Humpty Doo, a town of 6,000 about 40km from Darwin on the road to Kakadu National Park. It has a capital growth rate of 20.7% per year, largely because of growth generated by the outward sprawl of Darwin. 
Newman, an iron ore town in the Pilbara region of WA, is No.2 with a price growth average of 18% per year over the past decade. This is actually a significant drop on the town’s peak, about three years ago, when it averaged 30%-plus as the median price reached $780,000. It has dropped back to $685,000, according to the latest figures, but the growth rate is still the second best in the nation. 
Let’s be clear. I don’t advocate investing in mining towns or mining regional centres. They are just too volatile and too high risk. 
A few short years ago the iconic coal-mining town of Moranbah in Queensland had a long-term capital growth average above 30% per year. Back then its median price was $750,000. Today it’s $250,000 and the capital growth average for the past 10 years is now minus 0.2%. 
In other words, all that capital growth since 2005 has been wiped out and values are now lower than they were 10 years ago.
Moranbah is the most extreme boom-bust story I have encountered in Australian real estate, but there are other mining-impacted locations which have soared and are now very busy plummeting.
Port Hedland once had a median house price above $1.2 million and a capital growth rate close to 30% per year. Today the median is around $800,000 and the capital growth rate has dropped to 11.6%. 
That’s still good enough to rank No.10 in Australia and it means that if you bought there 10 years ago you’re still well in front. But if you bought there three years ago, you’re feeling a tad sick.
Despite the sharp decline in their markets in recent years, mining towns and resources regional centres still have the highest long-term capital growth rates in Australia – other than Humpty Doo. By comparison, the best of the capital city suburbs fade into insignificance.
<a href="/images/2015/07/09/ryder_chart.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/07/09/ryder_chart.jpg" alt="">
 
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> 
Terry was recently joined by Property Observer editor at large Jonathan Chancellor for a webinar on why research is the key to successful property investing in 2015. You can download slides and audio from the webinar here.
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terryryder-YECXbqmri2

Regional areas offering long-term capital growth: Terry Ryder

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With plenty of talk about a housing bubble and home values climbing much higher in Sydney and Melbourne, housing is looking expensive to many Australians. 
Low interest rates and the strong gains in certain areas are making residential housing investment quite attractive for some which is one of the drivers resulting in increasing home values. While housing may be looking expensive to locals, the declining Australian dollar means that it may be looking more attractive to foreign buyers.
Since combined capital city home values reached their most recent low point in May 2012 they have risen by 26.8%. At the same time the Australian dollar has fallen by -13.3% over that period in trade-weighted index terms. While the depreciation in the dollar has no impact on local buyers, for off-shore buyers the fall in the Australian dollar is likely to make Australian housing even more attractive. Furthermore, the Reserve Bank continues to state that there is a need for an even lower dollar which would exacerbate the relative affordability even further.
Foreign buyers are meant to be purchasing brand new homes in most instances. There have been numerous recent reports of foreign buyers not adhering to these rules.  Furthermore a recent parliamentary inquiry found that the Foreign Investment Review Board was significantly underfunded and as a result has not been able to effectively monitor and enforce foreign investment rules.
<a href="/images/2015/07/08/Chart-31.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/07/08/Chart-31.jpg" alt="">
Combined capital city home values have increased by 26.8% between May 2012 and June 2015. Keep in mind that these figures are heavily influenced by the Sydney and Melbourne housing markets with these the only two capital cities recording value growth in excess of this figure over the period. When you look at that 26.8% increase across other currencies you can see the impact of the falling exchange rate. Of those currencies highlighted only the Japanese Yen and Indonesian Rupiah have seen values rise by a greater amount. Across most other currencies the relative value rises have been significantly lower than they have been in Australian dollar terms.
Once you look at capital cities that have seen relatively lower recent capital growth, there has been a significant improvement in Australian housing affordability for foreign buyers. Not to mention the fact that in many of these foreign countries mortgage holders are borrowing at significantly lower interest rates than those available to Australians.
Sydney
<a href="/images/2015/07/08/Chart-21.jpg" target="_blank">Click to enlarge</a>
 
<img src="/images/2015/07/08/Chart-21.jpg" alt="">
Melbourne
<a href="/images/2015/07/08/Chart-31-1.jpg" target="_blank">Click to enlarge</a>
 
<img src="/images/2015/07/08/Chart-31-1.jpg" alt="">
 
Brisbane
<a href="/images/2015/07/08/Chart-41.jpg" target="_blank">Click to enlarge</a>
 
<img src="/images/2015/07/08/Chart-41.jpg" alt="">
Adelaide
<a href="/images/2015/07/08/Chart-51.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/07/08/Chart-51.jpg" alt="">
 
Perth
<a href="/images/2015/07/08/Chart-61.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/07/08/Chart-61.jpg" alt="">
 
Hobart
<a href="/images/2015/07/08/Chart-71.jpg" target="_blank">Click to enlarge </a>
<img src="/images/2015/07/08/Chart-71.jpg" alt="">
Darwin
<a href="/images/2015/07/08/Chart-81.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/07/08/Chart-81.jpg" alt="">
 
Canberra
<a href="/images/2015/07/08/Chart-9.jpg" target="_blank">Click to enlarge </a>
<img src="/images/2015/07/08/Chart-9.jpg" alt="">
 
With the RBA stating that the Australian dollar remains overvalued, any further falls in the Aussie dollar are likely to result in even more attractive buying conditions for foreign buyers. Given this it is imperative that foreign investment rules are tightened and FIRB improve their surveillance work.  A central register of foreign buyers would also be seemingly important. The Victorian Government has recently announced that it will increase fees and charges to foreign buyers of property in that state.  Despite howls of protest it would seem that this is likely to have little material impact on foreign demand for housing.  Furthermore, a national approach similar to this would be a good step towards appropriately funding FIRB to undertake their review and surveillance of foreign housing investment.  Particularly given that should the dollar fall further demand from off-shore buyers is likely to increase.
Earlier this week Federal Treasury released the Exposure Drafts and Regulatory Impact Statement of legislation designed to tighten foreign investment rules, including those relating to residential real estate. The document can be read <a href="https://treasury.gov.au/ConsultationsandReviews/Consultations/2015/Implementing-Foreign-Investment-Reforms" target="_blank">here</a> and submissions can be made up until Friday 17 July.
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Australian property, expensive for us, not so for foreigners: Cameron Kusher 

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The Malaysian developer Mammoth Empire Holdings has sought out Hayball for a $1.2 billion project in Malaysia, due for 2016 completion.
MEH, which is active in Melbourne, recognised the city architect’s success from both an urban and development point of view.
They were sought for Empire City, with 12 towers along with medium-rise accommodation.
Empire City will cater to Kuala Lumpur’s market need for mixed residential types, from studio apartments to luxury residences.
Premium tenants including 5-star hotel chains, Marriott and Ritz Carlton, have signed lease agreements within Empire City which will also be a retail destination given 200,000 square metres dedicated to mid to high-end fashion brands.
Its lifestyle facilities include an Olympic-sized ice skating rink, 4D cinemas, swimming pool, gymnasium and hospitality venues.
Hayball’s relationship with Mammoth Empire began in 2009 with multi-residential towers MY80 (2014) and Empire (under construction) in Melbourne’s CBD.
Empire City is their first international venture.
Hayball managing director Tom Jordan said Damansara-based, Empire City was the flagship project of the Malaysian developer, with construction of the greenfield site valued at over A$1.2 billion.
"Mammoth’s vision for developing the vibrant and cosmopolitan precinct, the size of which is equivalent to Victoria Harbour in Melbourne’s Docklands, relied on Hayball’s understanding of place making and its importance in creating liveable, dynamic and sustainable places," he said.
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jchancellor-FAypfDUnLy

Hayball takes on ambitious Malaysian architectural commission

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Volume sales of units in Tier 1 Chinese cities increased 65% in the four weeks to July 5 2015 when compared to the same period last year, despite the country's economic turmoil. Shenzhen unit volume sales increased 174% when compared to last year.
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According to Macquarie Wealth Management China Property research, 12 developers reported June sales, amounting to 34% month on month growth.
Evergrande’s sales for the first half of 2015 increased 26% year on year.
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Chinese cities property volume sales going strong: Macquarie Wealth Management

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SMSF allocations into direct property have been on the increase, with total weightings now almost making up 10% of portfolios, according to recent analysis from OneVue.
According to the March quarter 2015 results for OneVue’s SMSF portfolio holdings, direct property rose to 9.37%.
That compared to the March quarter 2014 when the figure was at 6.09%.
The shift was at the expense of cash and term deposits, with allocations sitting at 20.27% in March, compared to 21.56% a year ago.
“Over the past two-year period there’s been a consistent decrease in the cash rate, while the property market has been going gangbusters, so we’ve started to see that in the SMSF investment portfolios and almost a corresponding increase in property for the decrease we’ve had in cash and term deposits,” OneVue head of client and product strategies Alex Wise told selfmanagedsuper.
The findings also showed unitised trusts made up 16.57% of the portfolio in the March quarter 2014, but was now up significantly to 23.09% in the March quarter this year. 
In March 2013, unitised trusts were at 12.22%.
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For more information on self-managed super funds (SMFS) and property investment, download Forrester Cohen's <a href="/news">U</a><a href="/news">ltimate guide to property investment, Part One, Property and SMSF here</a>.
 
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SMSF direct property portfolio on the increase

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Opportunities for new food and beverage operators are being created at Brisbane’s Homemaker The Valley retail centre as it begins to evolve under the ownership of Altis Property Partners.
Altis acquired the high profile centre in 2013 on the major thoroughfares of Ann and Wickham Streets, Fortitude Valley.
While Homemaker The Valley is 100% occupied, there is a continued drive for remixing initiatives.
Two prime ground floor showrooms of 286sqm and 351sqm are being offered off the back of lease expiries, Damian Crocetti, CBRE Director of Retail Services &amp; Large Format Retail, said.
“A key driver for tenants is forecast growth in the catchment, with over 4,000 apartments being delivered in the next three years within a 1km radius of the centre,” Mr Crocetti said.
The centre already is home to over 30 home, lifestyle, food and fashion stores, including Harvey Norman, Domayne, Freedom, Nick Scali, Trade Secret, ALDI, Bubs Baby Shop, Bay Leather Republic, OZ Design Furniture, Snooze, Forty Winks and Dare Gallery as well as one café, a new car wash and two gymnasiums.
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Opportunities for food and beverage operators at Brisbane’s Homemaker The Valley

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A 163 room hotel development at 65-79 Sussex Street, Sydney is the next mooted Quest offering.
The proposed development has been designed by Fitzpatrick and Partners.
It is close to the Bristol Arms Hotel at 81 Sussex Street.
Garry McDonald, senior heritage consultant at Graham Brooks and Associates, noted the adjacent building 81 Sussex Street contains an 1898 Federation Free Classical Hotel.
The approval is sought for construction of an eight storey development for hotel accommodation comprising 163 rooms, including; hotel lobby, restaurant, retail and licensed bar at level 1; conference centre, function room, and gymnasium costing $36 million by Alfasi Property Development.
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Quest for Sussex Street, Sydney?

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Humphry + Edwards, the designers behind some of the country’s hottest restaurants, are now set to transform the western corner of the Grosvenor Place Piazza into an outdoor dining space.
It is as part of the building’s $20 million redevelopment.  
The Naked Duck’s new sister restaurant, called the Grand Dūk, moves into the new 125 square metre space next month -  the first of three new retail spaces for the Piazza.
Grand Dūk is designed by Humphry + Edwards (H&amp;E) – the architects and interior designers behind venues like The Winery, Chiswick, The Glenmore Hotel and Opera Bar.  
H&amp;E worked with Grosvenor Place’s architects, Harry Seidler &amp; Associates on a design that merges and extends the modern architectural features of the iconic office tower, using specific architectural devices to maintain a translucent perimeter and offer a seamless transition between indoor and outdoor zones. 
Inside Grand Dūk, a suspended bottle display attached to a glass wall will add definition to the space, allowing light to filter through the bottles to create a sculptural mosaic of colour and light.  
“This sculptural form will conjure a warm feeling of being inside a nest,” said Chris Grinham, H&amp;E Project architect who's ensured a fiddle leaf fig tree will sit in the outdoor area to complement the arboreal structure of the transparent glass rotunda.
There are still limited opportunities available within the North Plaza Piazza for lease, positioned at the gateway of what will be a rejuvenated George Street when the new light rail project is running in mid-2018.
Grosvenor Place has up to 5,000 workers on site, with an additional 3,000 joining the area when construction of 200 George Street is complete.  
City resident numbers are also growing rapidly with 35,000 residents proposed for the Circular Quay catchment by early 2016 – creating a new market for CBD dining outside of business hours, the co-owners of Grosvenor Place, DEXUS Property Group, Investa Office and Arcadia suggest.
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Grand Dūk set for Grosvenor Place piazza

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Swiss fashion house Bally will open a new marketing and showroom space in Sydney's CBD after signing a five-year lease.
Located on level four, 99 Elizabeth Street, the 146sqm suite offers views of Hyde Park. 
The annual rental is $846 gross per square metre.
CBRE's Rosie Origlia negotiated the lease on behalf of landlord Tackelly No.8.
“The property is well suited to accommodate the retailer's showroom and marketing office, while the design elements of 99 Elizabeth Street are also in line with the Bally brand,” she said.
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Bally takes Sydney CBD office lease

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<div>No surprise that the Reserve Bank of Australia opted to leave interest rates on hold at 2% yesterday, preferring to "wait and see" how data flows play out in the months ahead.</div>
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<div>Not all that many surprises in the <a href="https://www.rba.gov.au/media-releases/2015/mr-15-11" target="_blank">media release</a> either in truth. </div>
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<div>Perhaps the most notable point was this:</div>
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<div>"The Australian dollar has declined noticeably against a rising US dollar over the past year, though less so against a basket of currencies. Further depreciation seems both likely and necessary, particularly given the significant declines in key commodity prices."</div>
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<div>Although the Aussie dollar has touched a six year low against the US dollar at 74 cents, with commodity prices in an ongoing funk, the Reserve Bank wants to see further depreciation still. </div>
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<div>Just how much further depreciation is open to interpretation, but given the strength of the wording one might safely assume that this means at least 10 per cent, and probably more.</div>
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<div>With the release also noting that "monetary policy needs to be accommodative" there is every chance that interest rates will fall again at some point within the next year.</div>
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<div>Futures markets are all but pricing in another cut over that time frame.</div>
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<div>Asset markets</div>
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<div>The ASX 200 (XJO) surged by well over 100 points for no apparent reason to record its second strongest trade of the year to date.</div>
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<div>Another interesting development this week has been lenders tightening the screws further on investor loans.</div>
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<div>As of today Westpac - the Australian bank with the largest dollar amount of credit outstanding to investors - will reportedly apply a maximum 80 per cent loan to value ratio on its investment loans.</div>
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<div>This will make it comparatively more difficult for investors without substantial deposits to purchase property.</div>
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<div>To compensate we can expect that some lenders will instead encourage owner occupier loans, perhaps by dropping lenders mortgage insurance in some instances, or by dropping standard variable rates in others.</div>
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<div>The regulator APRA has evidently applied heavy pressure to banks and other lenders to slow the pace of credit growth to investors, and therefore the outlook for our property markets will shift accordingly over the period ahead.</div>
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 With rock bottom interest rates all but assured through 2015 and 2016 we can expect to see a shallower but probably longer recovery in property markets, driven increasingly by owner occupiers.</div>
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<div>Another point of interest is that certain capital city markets have already been distorted by a steady flow of foreign capital, while simultaneously we also have a central bank which wants to depreciate the currency by a further 10 to 20 per cent. </div>
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<div>This may well be the action which opens the sluice gates...just sayin'.</div>
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PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>. 
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.
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