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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GUEST OBSERVATION
The 100th anniversary of the ANZAC landings is rapidly approaching and the focus is very rightly on the sacrifices made by those involved.
Much has been made of how the ANZAC spirit shaped the Australian identity. But Gallipoli and the broader conflict also shaped the Australian economy and financial markets.
The most immediate impact of the war on the Australian economy was the disruption to international trade. The slump in exports was shortlived as the war effort geared up. But the weakness in imports persisted for the duration. Imports of manufactured items were particularly hard hit.
The need to replace imported goods gave a significant boost to Australian manufacturing. The steel industry and chemicals are key examples. Production of iron ore rose by 150% during the war years. And crude steel production jumped by 1,200%. The value of chemical production lifted by 88%. Companies that now dominate the business landscape such as BHP rode the wave.
<img src="https://www.urban.com.au/images/2015/04/24/soldier%20april%2024%20one.gif" alt="" width="363" height="342">
The difficulties of trading with Europe saw a re‑orientation of Australia’s trade towards Asia. About 10% of exports went to Asia pre War. This proportion reached 19% by war’s end. Old trading patterns resumed post War. But this tilt towards Asia provided a taste of things to come.
Isolation provided a form of protection for Australian industry. One outcome was a demand for “protection” to continue. Tariffs pre date WWI. But the Tariff Board was set up in 1921 and the Greene Tariff of that year substantially increased protection. The “infant industry” and “national defence” arguments for protection held sway. While production and employment benefited initially, this policy approach did contribute to weak productivity outcomes and some of the structural impediments that the economy is still working through.
Australia’s strong focus on immigration is allied to the defence theme. Immigration virtually ceased during the War years. But the Federal government vigorously promoted migration to Australia when the War finished. Assistance schemes were put in place. These schemes were mainly targeted at British migrants. But interest from Italy and Greece picked up and Australia took the first steps down the multicultural path.
<img src="https://www.urban.com.au/images/2015/04/24/soldier%20april%2024%20two.gif" alt="" width="359" height="337">
Agriculture was the largest sector within the Australian economy. And the rural sector was required to make a significant contribution to the war effort. Governments responded to war needs by seeking orderly marketing through statutory marketing authorities. The first Australian Wheat Board appeared at this time. When policy makers sought to unwind some of these arrangements after the War they found strong support for maintaining formal marketing arrangements backed up by government legislation. As they evolved, many of these schemes came to adversely affect the efficiency of resource use.
Wars are expensive – in treasure as well as lives. And paying for the War wrought some significant changes in fiscal policy and financial markets. Public debt rose from 75% of GDP in 1913 to 123% by 1918. Today’s budget deficits and debt burdens look modest by comparison.
Capital markets in London were difficult to access. And the Government financed the war effort through a series of loans from the public. The War Loan Bonds and the Peace Bonds administered by the Commonwealth Bank were a significant step in the formation of Australian capital markets. These activities and the other demands of a war time economy contributed to the Commonwealth Bank taking on the responsibilities of a central bank. The Reserve Bank of Australia evolved from these central banking activities. The RBA’s success in promoting financial stability and economic activity is now a key underpinning of our economic wellbeing.
<img src="https://www.urban.com.au/images/2015/04/24/soldier%20april%2024%20four.gif" alt="" width="352" height="331">
The government also paid for the war in other ways, the ramifications of which are with us today. The state governments raised most of the revenue prior to the war, including income tax. Federal revenues were mainly from customs and excise duties. But a number of new taxes were in place by the end of the war. These included a federal income tax first levied in 1915/16 and a major revenue source today. The increasing reliance on income taxes and increasing centralisation of tax collections dates from that time. The debate about how to share that revenue and the need to reform the taxation system continues today.
Peace is also an expensive business for governments. The desire to build a country fit for heroes had some ramifications that are still playing out. A War Service Homes Scheme providing 45 year loans at favourable rates began in 1918. The long history of government policy to encourage home ownership was underway. And the Australian love affair with housing has been with us ever since. A Soldier Settlement Scheme was set up to create jobs for returned servicemen and open up land to agriculture. A significant investment in infrastructure was required. And while the scheme struggled to meet its objectives, the infrastructure put in place still provides a significant economic benefit.
A related theme was the acceleration in technological development that accompanied the war. Few would have imagined in 1914 that Qantas would emerge as a commercial airline in 1920!
One trend that might have amused the larrikin Australian soldier of legend at Gallipoli was the drop in sporting attendance during the war. Crowds at the VFL Grand Final did not reach pre‑War levels until 1925!
<img src="https://www.urban.com.au/images/2015/04/24/soldier%20april%2024%20three.gif" alt="" width="356" height="335">
On a more sombre note the War also required a very necessary and deserved lift in Government spending on social welfare. The dark side of war is only too apparent in the spending on war, service and disability pensions which increased by a factor of 23 in the ten years from 1916. The development of the modern welfare system was underway.
A broader financial theme was unfolding behind this domestic government finance and financial market story. The US was a net debtor in global capital markets at the start of the War. And a large net creditor by the end. The centre of economic gravity was shifting from Great Britain to the United States. The centre of global financial markets was shifting from London to New York.
The war also influenced economic thought. Politics and economic directions differed sharply. But the central bank focus on controlling inflation that we see today, for example, had its genesis in the hyperinflation that damaged economies such as Germany after the War. Much of the thinking of the great economic minds, such as Keynes, was shaped by their experiences of war and its aftermath.
Lest we forget.
Michael Blythe is chief economist at CBA.
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MichaelBlythe-eUBDwaTLJ5

ANZACs, the economy and soldier settlement: Michael Blythe

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It's been 100 years since the landing at Gallipoli, so I thought that I'd pay tribute to those who I knew or know that are serving their countries or had to live through wartime.  
Reflecting on these stories reminds me of how lucky we are to be living in such a peaceful and free country. It gives me inspiration to keep working hard to achieve my goals and dreams.
My Dutch father was a young man of about 17 during the second World War. He was captured by the enemy and taken by train to work in Germany. He was only a teenager but he escaped by jumping off the train in France and walking all the way back to Holland. It took him weeks and he lived on next to nothing. His determination carried him home. Then he was captured again and made to work in the horrible concentration camps where so many people were killed. He somehow escaped and again made his way back to Holland.
He served time in the Dutch Marines and was stationed in Indonesia for a while before receiving shrapnel injuries which left him deaf in one ear. Dad then immigrated to Australia from Holland after World War II ended, I think a lot of people wanted to get as far away from the atrocities they'd experienced. 
When I stated investing in property it made dad proud. He’d done well from various entrepreneurial businesses and building his own home. Paying just $12,000 for a big block of land and only another $50,000 or so to build our family home years ago, they made a pretty penny when they sold it.
Dad passed away in 2013 and so this Anzac Day I think of my dear dad.
Another person I'd like to talk about was one of our clients. Alison and her husband are both in the Australian Army and we managed a granny flat development for them whilst they were both serving in Afghanistan.
During her time away Alison endured some horrific things; in late August 2012, five fellow Australian troops died.
We were so proud to have members of the Australian Army as clients and are grateful for their work overseas serving Australia.
Here's what Allison had to say: "We asked the Property Bloom team if they would be able to project manager with both of us in a war zone and they were incredibly supportive. Harry and I were both based in Tarin Kowt and had semi-reliable access to internet, e-mail, scanning and printing facilities. Through perseverance, patience and understanding form the Property Bloom team, we were able to continue to progress our Granny Flat project. Not only were Property Bloom understanding when we were unresponsive for a couple of days, or when the turnaround time for signing paperwork was more than a month, but whenever the news of a tragedy in Afghanistan hit the Australian media, Jo and her team would send us messages of support and condolences. This support meant as much to us as the project management service they were providing for our development."
As you can imagine, developing property from a warzone is a challenge but would have been near impossible without the help of a project manager (PM). The more obstacles we faced, the more our PM rose to the occasion to help us. We are so grateful - not only because they have helped us secure and develop a fantastic property, but also because they are professional and incredibly genuine people.”
I really cherished the updates we would get from Alison occasionally when she had email access and was amazed at some of the conditions she had to endure including no running water for days, how is a girl to wash her hair!  But what amazed us the most was the huge commitment to continuing their property investment journey that Alison showed by being able to continue with her project with all the other distractions she would have experienced in Afghanistan. 
So this Anzac Day I am also thinking about Alison and Harry who are safely back on Aussie soil again and working on their next development project.
This Anzac Day I am grateful for all we have here in Australia and to say thank you to those who fought for it and to remember those who sadly lost their lives for us.
Lest we forget.
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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Tributes to those who inspire me: Jo Chivers

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Rental rates would be driven upwards if negative gearing benefits were removed, the Real Estate Institute of Queensland (REIQ) claims.
The real estate industry lobby has criticised recent comments from Labor Shadow Treasurer Chris Bowen, who flagged that the party may wind back negative gearing benefits if it comes to power.
REIQ chief executive Antonia Mercorella believes negative gearing increases the supply of affordable rental properties.
"Investors help maintain supply to the rental market and a strong supply also ensures rental affordability is maintained," claims Mercorella.
"In Queensland more than a third of our population is in rental accommodation, so it's crucial that supply is maintained for this large section of the community.
"If private rentals were drastically reduced this would place enormous strain on the limited resources in public housing.
"It would also serve to drive up rents in remaining limited stock," she says.
Mercorella cited a "surge" in rents when the Hawke government removed negative gearing benefits between 1985 and 1987.
"We saw rental affordability plummet in Sydney and Melbourne when negative gearing benefits were quarantined."
Her claim mirrors those made by Treasurer Joe Hockey recently on ABC's Q&amp;A.
"You saw a surge in rents and those people who were paying rents are usually - not always, but usually - people that can't afford in many cases to buy their own homes," Hockey said last month, of the 1980s negative gearing changes.
However, his claims were refuted by economist John Daley of the Grattan Institute, who said the rental increase was confined to Sydney, which could have been attributed to an undersupply of property.
"But look beyond Sydney and rents were dead - barely moved in Brisbane, didn't go up very far in Melbourne, didn't go up very far in Adelaide," Daley said on the show. The varied performance of rents across Australia "made you suspect very strongly that the race memory we have of abolish negative gearing, that rents will go up, is a race memory built on Sydney," he said.
Mercorella, however, believes there is still reason to draw evidence to support negative gearing from the 1980s.
"Sydney and Melbourne are our bellwether states, and they lead the property market trends, so we know with absolute certainty what will happen if we do this again – it will destroy rental affordability and place enormous  strain on the public housing system as investors desert property as an asset class," she argues.
She cites the Queensland government's Housing 2020 report, published in 2013, which details plans to scale back public housing, encouraging residents to consider social housing "transitional".
According to the REIQ, investors make up 34% of owners in the residential market.
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Don't abandon negative gearing REIQ tells Labor's Chris Bowen

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When looking for an affordable purchase, many prospective buyers find themselves forced to look further out from the inner city.
CoreLogic RP Data has gathered the cheapest five suburbs within 10 kilometres of the capital city CBDs, for both house and unit markets.
The expensiveness of Sydney's suburbs is immediately apparent, with an almost $700,000 difference between the median price of its cheapest inner city suburb for houses, Turrella, and that of Hobart's cheapest inner city suburb, Clarendon Vale. In Sydney, all the cheapest suburbs for houses were close to the airport, south of the city. The unit market was more varied.
<img src="/images/2015/04/23/core-april-23-one.jpg" alt="">
<img src="/images/2015/04/23/core-april-23-two.jpg" alt="">
Source: CoreLogic RP Data
CoreLogic RP Data research Cameron Kusher noted that units are cheaper than houses in all the most affordable inner-city markets.
"In the more expensive cities such as Sydney, Melbourne, Darwin and Canberra it has become difficult to secure houses close to the city at relatively affordable prices," said Kusher.
"Given buyers are willing to pay an entry level premium – we anticipate this trend will continue over the coming years."
Kusher attributed high inner-city prices to better infrastructure and amenity, including hospitals, schools, transport and retail centres.
"Furthermore, the better schools are often also located around the inner city suburbs. As a result, demand for housing in these areas is typically much higher resulting in the cost also being higher," said Kusher.
Bellfield, in Melbourne's north, is the cheapest suburb for houses, with a median price of $582,573. The renovated brick home below, at <a href="https://www.realestateview.com.au/Real-Estate/38-wimpole-crescent-bellfield/Property-Details-buy-residential-8635282" target="_blank">38 Wimpole Crescent, Bellfield</a> (pictured below), sold in December for $506,000, after being listed with a price guide of $620,000.
The two bedroom house sits on a 605 square metre plot.
<img src="/images/2015/04/23/bellfield%20april%2023%20one.jpg" alt="">
The cheapest inner-city unit market in Australia is unsurprisingly located in Hobart. Glenorchy, which is north of the CBD, has a median unit price of just $199,303.
<a href="https://www.realestate.com.au/property-unit-tas-glenorchy-118154447" target="_blank">1/13 Sunlea Place in Glenorchy</a> (pictured below), a two bedroom unit, sold for $190,000 in December.
<img src="/images/2015/04/23/glenorchy%20april%2023%20one.jpg" alt="">
Earlier this year, it was advertised to rent at $270 per week. If the vendors secured a tenant at that price, the property would be yielding 7.4%.
Note: This article originally mistakenly referred to 38 Wimpole Crescent as 38 O'Keefe Street. The error has now been amended.
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Not much under $250,000 in Australia's most affordable mainland inner city suburbs: CoreLogic RP Data

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The Canadian fund manager, Ivanhoé Cambridge has partnered with Blackstone Property Partners Asia to buy a 25% stake in Liberty Place, a 42-storey office and retail Sydney tower.
Liberty Place at 161 Castlereagh Street includes 60,176 square metres of office space and 4,425 square metres of retail. 
The $240 million property, which houses the headquarters of ANZ Bank, was sold by LaSalle Investment Management. 
The GPT Group has a 50% share and ISPT holds 25%. 
The acquisition is the first direct investment in Australia's commercial property market by Ivanhoé Cambridge, which holds assets worth more than A$44 billion. 
"Ivanhoé Cambridge continues to explore the possibilities of increasing our investments in Australia and in other parts of the Asia-Pacific region in 2015," said Rita-Rose Gagné, executive vice president for Growth Markets for Ivanhoé Cambridge.
This week a major Queensland pastoral holding <a href="/news/canadian-pension-funds-buys-sir-graham-mccamley-farms">sold to Canadian pension fund interests</a>.
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Canadians keep coming for Australian commercial property

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Melbourne and Sydney office markets could benefit from potential further interest rate cuts, according to a new report from Savills. 
The <a href="https://publications.savills.com.au/WorldOfficeYieldSpectrum/" target="_blank">Savills/Deakin World Office Yield Spectrum Report</a> compares 43 cities across Asia, Europe, the US and Australia on market yields, accretion and risk, and offers buyer profile and price breakdowns.
<img src="/images/2015/04/22/sav-april-22-one.jpg" alt="">
<a href="https://publications.savills.com.au/WorldOfficeYieldSpectrum/" target="_blank">Tony Crabb, the national head of research in Australia</a>, said the world capital markets continue to see large amounts of capital inflows and commercial property markets remain a popular home.
"Despite variable economic fundamentals around the globe, capital continues to chase some generous returns. Local operators continually cite a lack of fundamental support for some pricing," said Crabb.
"Nevertheless, the competitive tension to place capital remains."
<img src="/images/2015/04/22/sav-april-22-two.jpg" alt="">
Crabb said that Australia's tow largest office markets could stand to gain from future interest rate cuts.
"If the Reserve Bank of Australia is successful in stimulating growth in the non-resources side of the economy, then the office markets in both Melbourne and Sydney should be the beneficiaries of stronger tenant demand," he wrote.
"Signs of this were seen in the last six months of 2014 and Savills Research expects this trend to strengthen in 2015.
"Incentives are currently prevalent in the Australian CBD office markets in order to attract tenants into vacant space.
"These large levels of incentives are reflected in the difference between market and effective yields and can be seen in the charts. Incentives account for between 150 basis points and 340 basis points gap between market and effective yields." 
<img src="/images/2015/04/22/sav-april-22-three.jpg" alt="">
Crabb concluded globally, commercial property yields in particular continue to look attractive. 
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Office markets could benefit from rate cuts: Savills

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Centuria Property Funds has  acquired a 50% sub-leasehold interest in 8 Central Avenue, Australian Technology Park (ATP) in the newly formed Centuria 8 Central Avenue Fund No.2.
The $110 million purchase gives Centuria full ownership of the Redfern building, after it acquired an initial 50% in December 2013 at a purchase price of $99.62 million. 
Built in 2010, the property is located 2.5 kilometres south of Sydney’s CBD, in one of Sydney’s key emerging precincts with major tenants including Pacific Magazines, Seven Network and the NSW state government.
Centuria's Jason Huljich said the new fund will open for investment in early May.
Centuria Property Funds has over $850 million of property under management in 15 unlisted property funds.
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Centuria doubles its Redfern Australian Technology Park stake

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The Hong Kong billionaire Tony Fung intends to backdoor list his newly acquired Canberra Casino.
It will be done through the rare-earths explorer Discovery Resources, which is changing its name to Aquis Entertainment.
The Australian Financial Review reports a $2 million capital raising at 20¢ per share will take place, giving Tony Fung's company an 89% share in the listed entity.
Fung purchased the Canberra Casino in December last year for $6 million.
It has 39 gaming tables.
Fung is seeking a casino licence at the Aquis Great Barrier Reef Resort.
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Hong Kong billionaire Tony Fung to list Canberra casino: reports

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Two heritage-listed office buildings at the Paris end of Collins Street, Melbourne have been listed for sale through Savills agent Clinton Baxter.
At 10-12 Collins Street, the five storey Victor Horsley Chambers, dates back to 1924.
The Georgian Revival building offers retail and office space.
Next door at 14-16 Collins Street is the five storey 1912 Chanonry office building.
Victor Horsley Chambers traded at $900,000 in 1971.
Chanonry last traded for $300,000 in 1971.
Both buildings, owned by private investors, are in the same block as the Melbourne Club.
They both have redevelopment potential.
"This is the ultimate location for property ownership within Melbourne, quite possibly Australia, with most properties being exceedingly tightly-held and often owned for generations," said Savills' Clinton Baxter, who is handling the properties with colleague Nick Peden.
The offering of two neighbouring office buildings at the prestigious Paris end of Collins Street in Melbourne’s CBD, could fetch a combined $35 million or more.
All leases are subject to six month termination clauses, providing the successful purchasers with a range of options which may include refurbishment, repositioning, owner-occupation or total redevelopment of the properties
Offers close with Savills 28 May.
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Two Paris end of Collins Street office offerings

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The 129-131 Parramatta Road, Concord development site has been given a $4.2 million asking price having failed to sell at is scheduled 16 April auction.
<a href="https://www.realcommercial.com.au/property-land+development-nsw-concord-501497303" target="_blank">There is approval for 16 units</a> for the shop-top site set 500 from Strathfield Station.
JLL agents Blair Peterken and Dylan McEvoy have the listing. Some 90% of the apartments will be two bedrooms.
The site was consolidated in 2013 at a $1.6 million cost. 
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