Sydney developer <a href="https://www.apartments.com.au/developers/odus">ODUS Property Group</a> is continuing to expand its local Gold Coast development pipeline, filing plans for a new 40-storey tower in the Southport CBD.

Odus, which bought two luxury Main Beach projects, now La Mer and Le Reve, to make its move into the booming Gold Coast apartment market, has secured its third site. But it is tweaking the plans for a previously proposed 50-storey skyscraper, now seeking to deliver 40 storeys.

The project, dubbed <a href="https://www.apartments.com.au/new-apartments/80-marine-parade-74-80-marine-parade-southport-qld-4215">80 Marine Parade</a>, sits on a prime&nbsp;2,032 sqm amalgamated corner site at 74–80 Marine Parade and 4 Welch Street, across the road from the Gold Coast Aquatic Centre. It will have unobstructed, never-to-be-built-out views to the east given its position opposite the Broadbwater Parklands.&nbsp;

The plans are for 316 apartments, ground-floor retail, and resort-style resident amenities. The project sits within Precinct 1 (Central Business District) of the Southport Priority Development Area, where high-density residential and commercial development is actively encouraged.

BGD, ran by Bayden Goddard and the architecture firm behind Le Reve, has revised the original concept plans, substantially reworking the built form. Basement parking has been replaced by an expanded podium designed to improve functionality while reducing the tower's overall visual impact.&nbsp;&nbsp;

<img alt="First look: Odus Property Group plots landmark 40-storey tower for Southport's Broadwater gateway" data-entity-type="file" data-entity-uuid="0f13d065-2cf5-45ec-aa17-1a03754d93d8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Southport%20da%202.png?VersionId=.9QS2n7kBc_U3PyaI247uOyNSXIqnXSE" />

The tower rises above the eight-storey landscaped podium with a distinctive architectural language defined by sweeping arches, integrated greenery, bronze-toned glazing, and a sculptural rooftop crown.

The development will comprise 104 one-bedroom apartments, 208 two-bedroom apartments, and four four-bedroom penthouses across levels 9 to 36. Apartments are designed to accommodate both permanent residents and short-term accommodation within the same building.

A double-height lobby and reception will anchor the ground floor alongside a 23 sqm food and drink outlet, activating the Marine Parade frontage.

Parking will be accommodated within the podium, providing 288 vehicle spaces and 74 bicycle spaces, accessed from Welch Street.

<img alt="First look: Odus Property Group plots landmark 40-storey tower for Southport's Broadwater gateway" data-entity-type="file" data-entity-uuid="d7528b91-2c47-4094-98b3-5eecbacc0041" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Southport%20da%20podium.png?VersionId=efF5oWs4T9PDvxJwJEDHu5kSQ5eE3IBy" />

Residents will have access to an extensive suite of amenities spread across multiple levels. A podium recreation deck will include a swimming pool, spas, sauna, steam room, cinema, residents' lounge and children's games room, while a second wellness level near the top of the building will feature a gym, co-working spaces, reading room, dining areas and communal kitchen. Extensive podium landscaping wraps the building to soften the built form and strengthen its interface with the surrounding streetscape.

The planning report notes the project responds directly to Southport's ongoing urban transformation.

"Consistent with much of Southport, the surrounding area is undergoing significant transition, with many older low-rise developments progressively being redeveloped for higher-intensity urban outcomes, as envisaged within Precinct 1."

It also states that the proposal "will contribute to a defined and legible eastern gateway to the Southport CBD, reinforcing the area's high-density urban character while maintaining a strong visual connection to the adjoining public open space network."

<img alt="First look: Odus Property Group plots landmark 40-storey tower for Southport's Broadwater gateway" data-entity-type="file" data-entity-uuid="0b9fdebd-4b35-400b-a287-6bd1cdbcdb1b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Southport%20da.png?VersionId=4LG35XR5mfir7jvG2TShtQx.utMLYBxu" />

Located opposite the Broadwater Parklands, the site enjoys immediate access to the Gold Coast Aquatic Centre, Australia Fair Shopping Centre, TAFE Queensland Southport campus, the G:link light rail corridor and Southport's established commercial precinct. The location places future residents within one of the Gold Coast's fastest-evolving mixed-use centres, where numerous high-rise residential projects are reshaping the CBD skyline.

Odus is headed by development professionals Byron Sakha, Jarrod Younan and Sebastian Younan. The Younans also head family-owned builder Nazero Constructions, established in the 1960s.

They are currently delivering La Mer, 24 luxury apartments on Main Beach Parade, and Le&nbsp;Rêve, on the same street but on the prized beachfront side of the sought-after strip.

Joel Robinson

ODUS plans landmark 40-storey tower for Southport's Broadwater gateway

A boutique collection of just 10 residences could become the catalyst for the next phase of renewal along the southern end of Surfers Paradise Boulevard, with new plans laid for a mixed-use tower designed to transform a long-vacant site.

The proposal for <a href="https://www.apartments.com.au/new-apartments/3098-surfers-paradise-boulevard-surfers-paradise-qld-4217">3098 Surfers Paradise Boulevard</a> has been conceived as more than a standalone residential project. Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, the development aims to spark the revitalisation of what the design team describes as the "South Boulevard" precinct, creating an active streetscape with retail uses at ground level beneath a collection of full-floor luxury residences.

The application, by PR Property Holdings, an entity directed by the Brisbane-based Ryan and Petrovic families, seeks approval for a 17-storey, 62.2-metre mixed-use development on a compact 427 sqm site between Surfers Paradise Boulevard and Appel Street.

The project will comprise just 10 apartments, including eight full-floor residences and two duplex apartments, positioned above a two-level retail podium. Three podium parking levels will accommodate 26 vehicle spaces, while a recreation deck is proposed on Level 4.

<img alt="First look: PR Property Holdings plans boutique apartment tower to kickstart Surfers Paradise's 'South Boulevard' revival" data-entity-type="file" data-entity-uuid="46cfa37d-5051-4449-8d8e-6724f8ca0d59" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_8.png?VersionId=e7UkeV1eTZAC2lXhdq72E3jpUbwiFD2t" />

Rather than pursuing apartment volume, the proposal focuses on large-format homes with a slender tower form intended to maximise outlooks while limiting visual bulk.

BDA Architecture said the proposal has been designed to become an urban renewal catalyst for the precinct.

"The ambition of 3098 Surfer's Paradise is that it provides the catalyst for incremental infill redevelopment and upgrade of what is coined the 'South Boulevarde' of Surfers Paradise which connects to the beating heart of Cavill Avenue."

The architects added: "An incremental approach to development that provides quality ground plane interface, human scale design, integrated subtropical landscape and semipublic permeable frontage can over time entirely upgrade a precinct."

The architecture adopts soft curves, articulated balconies and a slender tower profile rising from a human-scaled podium. The design report describes the project as delivering "bespoke residences of enduring distinction, sculpted with precision and quiet sophistication," with a focus on timeless coastal architecture.

The application also includes retail tenancies addressing Surfers Paradise Boulevard, reinforcing the site's role as an active mixed-use destination rather than a purely residential address. The planning report states the combination of the podium, landscaping and active frontage is intended to strengthen the pedestrian experience while contributing to the evolving character of the boulevard.

The site occupies a prominent position in the southern section of Surfers Paradise, directly opposite the G:link light rail corridor and within walking distance of Surfers Paradise Beach, Cavill Avenue, the Nerang River and Bruce Bishop Car Park. It is currently vacant, having previously accommodated a single-storey commercial building that was demolished in 2022. The planning report notes the surrounding area is characterised by a mix of commercial buildings and residential towers, with unlimited building height provisions applying under the Centre Zone.

The proposal also replaces an earlier 2022 approval for a restaurant and bar on the site, instead introducing a permanent mixed-use development that combines retail activation with boutique residential living.

Boutique apartment tower to "kickstart" Surfers Paradise's 'South Boulevard' revival

One of Hervey Bay's best-known waterfront landmarks could undergo its biggest transformation in decades, with plans lodged to redevelop the Hervey Bay Hotel &amp; Resort into a four-tower mixed-use precinct combining apartments, retirement living, a new hotel, wellness facilities, retail and an expanded hospitality offering.

The proposal seeks approval to redevelop the 8,981 sqm site at 249 Esplanade, Pialba, transforming much of the existing 1980s-era hotel and resort into a staged masterplanned precinct while retaining the Hervey Bay Hotel as its centrepiece.

Rather than a conventional apartment project, the proposal has been designed as four distinct towers delivered across four stages, each with a different role within the precinct.

<img alt="First look: Four-tower transformation planned for iconic Hervey Bay Hotel site" data-entity-type="file" data-entity-uuid="89db2163-cdf2-484e-90a0-9804ece86a31" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Pialba%20da%201.png?VersionId=JsYhCwLtFk2p72uhjPQBqQ57.vWoIPeB" />

The largest hospitality component sits within Stage Two, which combines a refurbished tavern, sports bar, gaming lounge, bottle shop, lobby café and wellness facilities beneath a new 52-room hotel and 55 apartments, including 30 dual-key residences. The tower rises 14 levels above the Esplanade and includes gym, spa and wellness facilities together with more than 260 car spaces.

Stage One introduces a retirement living component comprising 69 retirement apartments alongside communal facilities, while Stage Three delivers 59 apartments overlooking the Esplanade. Stage Four includes a retail tenancy at ground level with a further 45 apartments above. Collectively, the masterplan provides 228 apartments across the four towers in addition to the new hotel accommodation.

Urban Planet Town Planning Consultants, acting on behalf of Herbay Pty Ltd, says the redevelopment builds on the long-standing role of the hotel within the Fraser Coast community.

"The Hervey Bay Hotel is an iconic use (notwithstanding the current format) and the retention for this facility in the community as an effective and successful business will advance the goals of the Planning Scheme," the town planner noted in its planning documents.

<img alt="First look: Four-tower transformation planned for iconic Hervey Bay Hotel site" data-entity-type="file" data-entity-uuid="cca3617b-693f-40e2-8fa3-f609c2c95d00" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Pialba%20da%202.png?VersionId=8.hhkMuikoiLvoD6ei655Pj9mTKob4xV" />

The planning report argues the redevelopment responds to demand for greater housing diversity, additional tourism accommodation and expanded hospitality offerings within Hervey Bay's established urban area, rather than continued greenfield expansion.

"The delivery of contemporary services in the form of hotels, dining opportunities and short-term accommodation will be the cornerstone of the proposed development and does have a significant community outcome in the retention and expansion of existing services."

The masterplan has been prepared by <a href="https://www.apartments.com.au/architects/oge-group-architects">OGE Group Architects</a> and features three basement parking levels beneath towers rising to around 14 storeys, creating one of the largest integrated mixed-use developments proposed for the Fraser Coast. The design also incorporates gym and wellness facilities, communal recreation areas, retail space and new landscaped public interfaces across the four street frontages.

The site occupies a prominent waterfront block bounded by the Charlton Esplanade, Thomas Street, Watson Street and George Street, immediately opposite the foreshore and within walking distance of Hervey Bay's city centre, Wetside Water Park and surrounding commercial precinct. The existing Hervey Bay Hotel &amp; Resort currently occupies the site, with buildings dating largely from the 1980s.

First look: Four-tower transformation planned for iconic Hervey Bay Hotel site

The transformation of the Gold Coast’s CBD of <a href="https://www.apartments.com.au/developments/southport-qld-4215">Southport</a> is underway with the official commencement of one of the area’s first ‘next generation’ towers, the $200 million Maris residences.

More than 250 onsite and offsite workers will deliver the project being delivered by Malaysian company <a href="https://www.apartments.com.au/developers/mrcb">MRCB International</a> and its build partner, <a href="https://www.apartments.com.au/builders/binah-constructions">Binah</a>.

The start of construction by Binah follows an exceptionally strong sales campaign, with more than 90 per cent of apartments sold since its market launch less than a year ago.

The project has attracted predominantly local buyers and downsizers, many of whom who live and work in the CBD or the nearby Health and Knowledge precinct.

[smartcode_project:default project_id=134403 project_image_fid=372756]

The commencement of construction was marked by an official sod turning ceremony on site today (Friday, August 7).

MRCB International CEO Ravi Krishnan said MRCB was delighted to be playing a part in the transformation of the Southport precinct.

“We’re very aware of the importance of Southport as the CBD hub of the Gold Coast and the need for high-quality residential facilities for locals who live and work in the area,” said Krishnan.

"Across Southeast Queensland, new apartment supply remains constrained, particularly in established precincts with infrastructure and amenity already in place. Projects like Maris are increasingly critical in meeting that demand, especially on the Gold Coast and in the city's CBD precinct."

&nbsp;

[smartcode_project:default project_id=134403 project_image_fid=350661]

Binah's Managing Director Khalil Hafza said the company was delighted to be constructing Maris in its first foray into the Gold Coast market.

“Binah has been in Queensland for some time but we are very pleased to be given the opportunity to construct a project of such magnitude on the Gold Coast,"&nbsp;Hafza said.

“Some 250 on and off-site tradespeople and consultants will work on Maris over the course of the next two years bringing significant economic benefits to the Gold Coast community.”

Maris will deliver 192 residences across 20 levels. The project forms part of an Australian and New Zealand development pipeline by MRCB now exceeding $1.6 billion in gross development value, alongside a growing portfolio of projects globally.

The company also commenced construction on its $600 million 26 Vista residences in Surfers Paradise last year, following strong sales momentum, with over 70% of residences sold.

[smartcode_project:default project_id=134403 project_image_fid=372760]

Positioned next to the Broadwater in the Southport CBD, Maris will sit directly opposite the Broadwater Parklands light rail station and within easy reach of retail, dining and lifestyle precincts, placing residents at the centre of one of the Gold Coast's most connected and rapidly maturing urban centres.

Maris will offer a full suite of resort-style residential amenities, including a pool, gym and sauna, along with a rooftop level featuring decks, lounges and dining and yoga areas that command sweeping views across the Broadwater and out to the ocean.

Construction at Maris is anticipated to be completed in 2029.

[smartcode_project_cta:default project_id=134403]

MRCB and Binah mark start of construction on $200m Maris Residences in Gold Coast CBD

To say Frank Licastro is keen on Wyandra Street, the small 400m strip that straddles Teneriffe and Newstead, would be an understatement.

Licastro, who runs Frank Developments, first jumped onto the street with <a href="https://www.apartments.com.au/new-apartments/ducale-teneriffe-33-wyandra-street-teneriffe-qld-4005">Ducale Teneriffe</a>, just 26 apartments at 33 Wyandra Street.

With those apartments heading towards construction completion later this year, Frank went again just a few doors down with the recent launch of <a href="https://www.apartments.com.au/new-apartments/murano-teneriffe-37-wyandra-street-new-farm-qld-4005">Murano House</a>, a further collection of 41 apartments at 37 Wyandra Street.

Now Licastro is planning his third building on the strip.

Frank Developments has submitted plans to Brisbane City Council for a considerably larger 147-apartment project across an amalgamated 1,928 sqm site at <a href="https://www.apartments.com.au/new-apartments/22-40-wyandra-street-teneriffe-qld-4005">22-40 Wyandra Street</a>, which also runs through to Wyatt Street.

The Cavill Architects-designed proposal, on the opposite side of the street to Ducale and Munro House, will rise to 22 storeys at its tallest point, stepping down towards Wyandra Street as the building transitions between the higher-density Newstead skyline and the lower-scale character of Teneriffe.

<img alt="Frank" data-entity-type="file" data-entity-uuid="fe60dd88-c9f1-495c-b918-ddfd5dbae504" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-17%20at%207.57.08%E2%80%AFAM.png?VersionId=0cxIChr_1aSNoE3K3VbVl8qNyENf4a90" />

The plans comprise just two one-bedroom apartments, with the project overwhelmingly geared towards larger apartments. There will be 80 two-bedroom apartments, 58 three-bedders, six four-bedroom apartments and a single five-bedroom residence.

The apartment mix continues the owner-occupier focus Frank has pursued across its recent inner-Brisbane developments.

There will be 222 resident car spaces and seven visitor spaces across four basement levels, along with 166 bicycle spaces.

Cavill has approached the architecture as a transition between two very different parts of inner Brisbane.

The site effectively sits on the dividing line between Newstead's high-density mixed-use precinct and Teneriffe's medium-density residential area, something that has heavily influenced the massing of the building.

Rather than presenting as a single 22-storey tower, the building steps up from a 13-storey form towards Wyandra Street to its taller 22-storey element towards Wyatt Street and Newstead. The design documents describe the taller component as the "backdrop massing", with the lower form creating the transition towards Teneriffe.

The architecture itself also changes as it rises.

At the lower levels, Cavill has drawn from Teneriffe's heritage buildings and the tuff stone found below ground, before shifting towards a more contemporary Newstead-inspired tower expression with continuous balconies higher up.

<img alt="Frank 2" data-entity-type="file" data-entity-uuid="3c6953c7-f65c-4ca5-bba0-08c1782b72af" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-17%20at%207.56.33%E2%80%AFAM.png?VersionId=NxHPok5FY.omKhxPVqVWIN9ONqfoQV53" />

Frank is also proposing a significant amount of resident amenity throughout the building rather than concentrating everything on one recreation level.

Amenity terraces are proposed at levels 13 and 16, before another major rooftop terrace at the top of the building. The plans show a pool terrace and landscaped outdoor spaces, with shaded outdoor rooms, tree planting and protected "City Rooms" incorporated into the shared areas.

At street level, the project will also seek to open up the connection between Wyandra and Wyatt streets.

A currently constrained pedestrian laneway along the northern boundary would be expanded, while a double-height "City Room" would be created on Wyandra Street. A separate two-storey outdoor arcade would run through the site from Wyandra Street to Wyatt Street.

The ground floor plans also show food and beverage tenancy space alongside the residential lobby, lounge, office and landscaped public areas.

Cavill says the intention is to create a more generous and heavily landscaped Wyandra Street frontage, with weather protection and public spaces designed to encourage people to spend time at street level.

Frank has been busy across Brisbane and the Gold Coast in recent years, with two ultra-luxury projects under construction in Surfers Paradise, as well as several projects in the pipeline across New Farm and Hamilton in Brisbane.

&nbsp;

First look: Frank Developments triples down on Teneriffe's Wyandra Street

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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Applications and redemptions on some van Eyk Blueprint funds have been temporarily suspended "to protect investors’ interests".
The temporary suspension for the van Eyk Blueprint International Share Fund (VBI) has been imposed as a result of the market illiquidity of one of the underlying managers that VBI holds.
Van Eyk suspended applications and withdrawals from its $100 million Blueprint International Shares Fund last week, blaming so-called unauthorised investments by Artefact Partners, one of the fund's underlying asset managers since July 2012. 
"Contrary to our expectations, the underlying manager, Artefact Partners, elected to invest in a portfolio that was not in line with VBI’s strategy and objectives," the contested van Eyk statement said.
"The investment in Artefact Partners, constituting approximately 32% of the assets of VBI, is not “liquid” (“VBI Illiquid Investment”). Accordingly, VBI has ceased to be a liquid scheme as defined by the Corporations Act.
"As a result, van Eyk and Macquarie Investment Management Limited, the Responsible Entity of VBI, have determined that it is in the best interest of investors to temporarily suspend pricing, applications and redemptions."
Three additional funds in the Blueprint Series, with an exposure to VBI, have also been affected by the temporary suspension. The funds are the van Eyk Blueprint Capital Stable Fund (VBC), van Eyk Blueprint Balanced Fund (VBB) and the van Eyk Blueprint High Growth Fund (VBG). 
But Artefact have disputed the claim.
The head of the investment team is Richard Boon, formerly a managing director at Merrill Lynch Investment Managers and executive director of Morgan Stanley Asset Management.
Richard Boon founded Artefact Partners in 2005.
The Australian Financial Review Chanticleer columnist Tony Boyd wrote the temporary suspension of applications and redemptions on four van Eyk Blueprint funds is a "black mark" against both van Eyk, which picked the fund manager, and Macquarie Investment Management, which is the responsible entity of the funds.
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Van Eyk has no excuse for allowing one of its fund managers to make investments that triggered the illiquid rules under the Corporations Act.
The temporary suspension was an automatic response by Macquarie once it was advised Artefact, which had 32% of the assets in the van Eyk Blueprint International Shares Fund, had made an investment that was not liquid.
The investment was an unlisted property trust.
But Business Day reported Boon saying "investments have always been within the guidelines of its prospectus".
Boon said comments regarding Artefact are misleading.
The VBI fund returned -1.77% over the month of March, underperforming the neutral benchmark, in the last public announcement.
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It said the fund’s allocation to the BlackRock European Diversified Equity Absolute Return Fund was the key detractor from performance during the month.
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The fund aims to provide capital growth over the long term and have an investment horizon of five to seven years. It was marketed as not suitable for short term investment. 
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jchancellor-FAypfDUnLy

Unlisted property trust investment prompts van Eyk Blueprint funds redemptions suspension

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It was surprising to see an article published by Fairfax recently that criticized RP Data's publication of monthly housing market statistics. 
The article (<a href="https://news.domain.com.au/domain/real-estate-news/a-milliondollar-median-for-melbourne-20140801-zzjr9" target="_blank">that can be viewed here</a>) remarks that the RP Data indices are ridiculous and implies that the monthly results are misleading.  The theme of the article focuses on the monthly result for Melbourne where we reported a 3.7% rise in Melbourne dwelling values over the month of July.
For starters, the article did not disclose the fact that Fairfax publishes a competing index which is not a monthly measurement and lacks the timeliness of the RP Data series.  Fairfax also owns a data business that is competitive with RP Data.  The lack of disclosure around this conflict should come as a shock to readers who expect a greater level of transparency in reporting.
It’s also worthwhile pointing out that our monthly hedonic index was developed (in conjunction with Rismark International) after the RBA released a discussion paper calling for more accurate and higher frequency reporting on housing market conditions. Since that time the RP Data monthly hedonic regression indices have become the index of choice for the RBA when it comes to reporting on housing market conditions in Australia.
In an attempt to discredit our reporting and highlight what they perceive to be extreme volatility in the index reading, Fairfax take the monthly movement in our index value for Melbourne and annualise it to suggest the Melbourne housing market is heading for a 44% plus rate of growth over the coming year.
Do commentators suggest the share market is set to boom when the S&amp;P/ASX200 rises by 1.8% in a day (an annualised gain of more than 400% using Fairfax’s logic)? The graph below demonstrates the difference in volatility between our daily housing market index and the daily S&amp;P/ASX 200 index.  The volatility in our capital city indices is around 4% per annum which is approximately one fifth of the volatility recorded across equity markets. The difference in volatility levels is clear from the graph below.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/08/ASX200-v-RP-Data-Daily.jpg" rel="wp-prettyPhoto[g3575]"><img class="aligncenter size-large wp-image-3576" src="https://blog.rpdata.com/wp-content/uploads/2014/08/ASX200-v-RP-Data-Daily-580x223.jpg" alt="ASX200 v RP Data Daily" width="580" height="223"></a>
Housing markets are much more stable than equity markets, however that isn’t to say that housing markets don’t show natural volatility. Housing market volatility simply hasn’t been measured in the past due to the lack of granularity and sophistication in the methods behind the measurements.
If we look at monthly data released by the Australian Bureau of Statistics, we can also see some significant month to month fluctuations that can take commentators by surprise.
Over the first six months of this year, dwelling approvals have had the following month-by month changes: +9.0% in January, -6.6% in February, -4.5% in March, -6.1% in April, +10.3% in May and -5.0% in June.  Of a similar note, the number of owner occupier housing finance commitments has fluctuated significantly over the first five months of this year.  The fluctuations on a month to month basis were as follows: 0.0% in January, +1.6% in February, -1.3% in March, -0.5% in April and -1.7% in May.  The point here is that volatility is a part of measuring any market on a regular basis and must be considered when looking at the data.
Short-term movements in the property market cannot be viewed in isolation. A more reliable and informative way to interpret the statistics is to take the monthly change in context with the broader trend of the data. 
Over the past three months Melbourne values have shown a much lower 1.8% rise; in fact the rolling quarterly rate of growth has been tapering across Melbourne since March and the rolling half yearly rate of growth peaked in January.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/08/Melb-index.jpg" rel="wp-prettyPhoto[g3575]"><img class="aligncenter size-large wp-image-3577" src="https://blog.rpdata.com/wp-content/uploads/2014/08/Melb-index-580x223.jpg" alt="Melb index" width="580" height="223"></a>
Subscribers to our index data, such as the Reserve Bank and Federal Treasury, rely on our monthly indices regularly, but they take a much more informed view of the results; interpreting the monthly statistics in context with the trend as well as other market evidence such as vendor metrics, supply introductions, housing finance demand and transaction volumes.
Article continues on the next page. Please click below.
<hr class="system-pagebreak">
We agree that property market information needs to be timely and meaningful and it’s not just those people looking to buy or sell a home that should take interest. 
National regulators and policy makers have a high level of interest in housing market conditions; housing is an important component of financial stability.  The banking and finance sector track housing market conditions closely, with more than 65% of bank’s loan assets are secured by residential property their requirement to assess housing market conditions is one of the their highest priorities.  Industry professionals, who need to understand the ups and downs of housing market conditions on a timely and frequent basis in order to run a successful business, also have a requirement for accurate and timely housing market analytics.
Statistics are like a foreign language for most people.  While numbers can look straight forward, understanding what the numbers mean and how best to interpret them can be challenging. Unfortunately, when it comes to measuring things like asset values and market movements, whether it is real estate or equities or other asset classes, complex mathematics is often required.
Around 15 months ago RP Data, together with Rismark International, launched a new and improved hedonic methodology which provided a daily measurement of how dwelling values were performing.  Our daily index tracks the overall change in home values across the complete portfolio of properties across the capital cities; essentially imputing the value of every house and apartment each day and measuring the change across the overall portfolio values between each period.
Prior to being released to the market, RP Data’s indices were audited by both Alex Frino at Capital Markets CRC and KPMG from an infrastructure perspective.  We consulted with the RBA.  White papers on the index methodology are<a href="https://www.rpdata.com/research/rp_data-rismark_home_value_index_methodology" target="_blank"> available to be downloaded from the RP Data web site</a>.  No other index provider goes to such lengths to provide a transparent level of documentation around their methodologies and processes.
RP Data also spends about $15 million each year on data capture, cleansing and improvement.  On a weekly basis we typically capture between 85% and 90% of all auction results, which is generally much higher than other residential property data businesses.  We receive about 60% of our transaction data directly from the industry which provides a much more timely mechanism for collecting property data than waiting on government provided records, however we also collect virtually 100% of all property transactions nationally from the respective state government departments.
So in summary, we take data collection and the production and release of our indices very seriously as we fully understand and appreciate the important decisions being made every day by regulators, policy makers, financial institutions, other industry professionals and consumers, in reliance on our data and analytics, including our indices.
The nature of statistics is such that from time to time you will get outlier results such as last month’s Melbourne figure and yes, businesses with competing interests to RP Data will use results such as this to attack us from time to time.  The important thing is to understand outlier results occur every so often in any statistical model.  Like industry professionals, policy makers and regulators, industry commentators need to understand this, not dismiss or discount these figures and pay attention to the longer-term trends.
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Why RP Data publishes monthly price data

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Today’s latest official dwelling price data from the Australian Bureau of Statistics has confirmed the strong growth seen across the cities in the year to date.
Looking at the June quarter 2013 compared to the June quarter 2014, dwelling prices increased by a weighted average of 10.1% across the eight capital cities.
This spanned from a 15.6% increase recorded in Sydney, to 2.2% in Canberra.
In the June quarter, Sydney managed 3.1% growth while at the other end of the scale dwelling prices in Perth slid backwards by 0.2%.
Melbourne, was the second strongest city for growth over the year at 9.3%, including 1.3% growth in the June quarter. Brisbane recorded 6.8% annual growth, but had the second strongest quarterly increase of 1.8%.
The mean price of residential dwellings rose $9,900, while the total number of dwellings across the nation up by 37,600.
The ABS notes that in Sydney, for established houses, the rise was broad-based with almost all segments of the market increasing.
Strata priced between $600,000 and $1.3 million contributed most to the rise. Attached dwellings under $1 million, in particular strata priced between $550,000 and $800,000, also recorded strong price growth.
In Melbourne, for established houses, strata in the listed segments of above $1.4 million and below $700,000 recorded increases. Attached dwelling results saw mixed results, with some segments rising and others falling.
Managing director of SQM Research, Louis Christopher, said that the figures reveal a strong housing market overall, with Sydney driving the average results.
“Going forward for the remainder of 2014, We expect some moderation in capital growth, but believe the recovery which began in late 2012, will remain intact,” he said.
Christopher noted that their predictions (over page) were largely correct based on the ABS’ results.
“I must say however, that forecasting 2015 is proving to be very challenging. There are many ‘x factors’ at play, including some geopolitical events that could play out rather badly for the global community,” he said.
See over page for SQM Research’s predictions, the ABS results, and how they compared.
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<a href="/images/2014/08/12/abs-stats-aug-12-one.jpg" target="_blank"><img src="/images/2014/08/12/abs-stats-aug-12-one.jpg" alt=""></a>
Source: SQM Research (click to open in new window)
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jduke-EHk3XBmHkn

National residential property prices up 10.1% in a year: ABS

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Responding to the RBA’s research discussion paper that looked at whether housing is overvalued, Chan &amp; Naylor say that owning makes more financial sense than renting.
The Reserve Bank of Australia research, which <a href="/expert-insights/finance/no-property-bubble-but-rba-pinpoints-the-possible-future-wisdom-in-renting">suggested that house prices would have to continue to rise at the same rate as that seen over the past six decades to justify buying a property</a>, may set a dangerous precedent, according to Chan &amp; Naylor managing director Ken Raiss.
For housing to be financially viable, they would need to exceed 2.4% growth per annum on the long-term trajectory to beat renting. 
“On paper these figures may seem to make stark economic sense, but the property market, like any other, is cyclical and therefore undergoes peaks and troughs,” said Raiss.
“The other significant factor is that not all properties are created equal. The purchase of a property, whether it is for owner occupation or investment, must be a business rather than emotional process.”
He does, however, say that buyers must be looking to purchase properties that out-do averages and that are below intrinsic value in higher capital growth locations, rather than relying on average national growth.
While those who do not expect a higher than 2.4% growth per annum statistic to continue should turn to renting, the fundamentals of buying early, buying right and holding on long-term still apply, he says.
Turn over page for Chan &amp; Naylor’s eight reasons they think buying is still the best decision.
<hr class="system-pagebreak">
Chan &amp; Naylor’s eight reasons they think buying is still the best decision:
<ol>
<li>
It is forced savings Australians are some of the worst savers in the world, therefore being forced to put your money in a long-term asset is a highly prudent exercise that offers reassurance in later life. There is truth in the old adage that ‘I might retire broke, but at least I have my house’. 
</li>
<li>
It can cover your retirement costs The majority of us are living longer however as was evident from the recent budget it is clear that the government can no longer afford to pay for the growing number of pensioners. Having an asset like a house will actually help pay for your long term stay in a retirement or care facility, something that potentially awaits many of us at some point. 
</li>
<li>
Not owning means that you are subject to rental market forces As a middle aged unemployed tenant you will be subject to the market forces of the rental market as dictated by your landlord who can throw you out as soon as you fail to meet your rental obligations. Conversely as a home owner it is more likely that you can come to an arrangement with your bank should circumstances require it. 
</li>
<li>
Home ownership gives your financial certainty If you have purchased the right property, it will increase in value above the average, but the amount you have borrowed will remain relatively fixed. Rental income however increases with the value of the property market, so do you really know what you will be paying for your two bedder in 30 years’ time? 
</li>
<li>
Home ownership gives you personal certainty Buy what you can afford now rather than what you necessarily want and you will be in front as you enter the second half of your life rather than waiting for a late win. 
</li>
<li>
You can leave your grandkids something Most people aim to leave their legacy to the next generation and a home is a fantastic asset to pass on. 
</li>
<li>
Bricks and mortar are less volatile than the share market If the value of the housing market looks like it is on a downward cycle for now, it is nothing compared to the wild swings of the stock market over the last decade. Where would you rather put your hard earned money? 
</li>
<li>
There is only a finite amount of rental property to choose from At end of day everyone needs somewhere to live, and as only 30% of the Australian housing market is owned by investors, limited choice means taking matters into your own hands.</li>
</ol>
Source: Chan &amp; Naylor
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Eight reasons owning is better than renting: Chan & Naylor

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Politicians have a great appetite for exercises that chew up lots of time and money for little purpose other than to attract spotlight and give the impression that they’re doing something.
The current federal inquiry into housing affordability is a classic of the genre. Let’s galvanise the nation with a talkfest about a non-existent problem. We can stretch it out over many months, with regular media events, and really make it look like we’re on the ball and genuinely care.
Sir Humphrey Appleby would be proud.
But the Yes Minister icon would be fit to burst at the latest effort of the Queensland government.
It’s only taken them two and half years in government, but they’ve finally come up with it: a vision for the state.
Not just any vision. This is a blueprint for what Queensland will look like 30 years from now.
As we’ve seen regularly in state and federal politics, most governments can’t estimate the state of their own budget one year ahead, let alone the state of play in 30 years’ time.
But this is not about reality. This is about creating an illusion. The delusion that Campbell Newman and his crew are actually in charge of the state’s destiny.
The current Queensland government is busily turning a landslide into a mudslide. They hold almost all the seats in the Parliament but still manage to look like they’re under siege a lot of the time, fighting for their lives.
Labor, almost wiped out in the 2012 state election, has just won a by-election with a swing of 18.6%, after winning a February by-election with a swing of 17.2%.
Queensland unemployment has risen sharply and, at 6.8%, is well above the national average and the highest in 11 years. Economic activity, as measured by state final demand, has fallen recently. Queensland got a mediocre rating in the latest State of the States report from CommSec, well behind the growth leaders Western Australia, the Northern Territory and New South Wales.
So it’s a good time to create a diversion, more for their own benefit than the publics’. As Sir Humphrey observed, politicians don’t believe they exist unless they read about themselves in the paper.
But what a pointless exercise. Why create a 30-year plan when you won’t be around to implement it? The current mob is unlikely to be in government even four years from now, given the extraordinary volatility in the electorate.
Newman won’t be Premier in 2024, much less in 2044 which is the ultimate destination of this plan - during which time there will be a dozen new governments, each with its own deep vision and long-term plan.
So why bother with this window dressing? Why publish a plan that you have no chance of implementing?
And why get excited about it as journalists, consumers, businesses and developers?
But some have. Media lapped it up and one newspaper came up with this: “A wave of housing demand in Queensland areas such as Gladstone is expected to flow from The Queensland Plan …”
One development company latched on to this to promote the “masterplanned community” it’s developing in Gladstone. It said Gladstone had emerged as a growth area recently.
In reality, the only real estate factors growing in Gladstone at the moment are the vacancy rate (around 7%) and the consternation of investors who own property there. Prices have 10% in the past 12 months and it will get worse when the construction phase of the three mega gas projects winds down.
There are plenty of Queensland places worthy of consideration by investors, including Toowoomba, Cairns and the Sunshine Coast – each of them growing strongly for local reasons. Toowoomba, as I discussed earlier in the week, is arguably the nation’s strongest property market. Cairns is pumping in a way not seen since the 1980s and the Sunshine Coast is rising on the back of a big infrastructure spend.
None of this has anything to do with the 30-year “vision” that will be filed along with all the other political plans, never to be heard of or thought about again.
You can contact Terry via <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://www.twitter.com/hotspotting" target="_blank">Twitter</a>.
Photo courtesy of BBC Television.
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terryryder-YECXbqmri2

Queensland's "30-year vision" a plot worthy of Yes Minister

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GUEST OBSERVATION
Australian politicians are keen property owners. <a href="/expert-insights/investing/the-propertied-federal-politicians-pollies-and-their-300-million-property-portfolio">Data compiled by Lindsay David, Deakin University’s Philip Soos and Paul Egan</a> from the parliamentary register of members’ interests shows the 226 members of federal parliament (both houses) have an ownership stake in some 563 properties. While these properties may be jointly owned with a spouse, this is an average of 2.5 properties per member.
In 2013, the 76 members of the Senate had 202 property holdings and the 150 members of the House of Representatives had 361 property holdings.
Top of the leader board is National Party Senator Barry O’Sullivan with a portfolio of 50 properties. David Gillespie follows with 18 and Palmer United Party Senator Clive Palmer has a seemingly conservative 13, although the total value of Palmer’s properties is unknown (see table below).
<img src="/images/2014/08/06/Table2-1.png"> 
Compiled by Lindsay David, Philip Soos and Paul Egan.
The estimated total value of these properties is said to be around A$298 million. This was calculated by multiplying the 563 properties by the median dwelling price of $530,000, as of July 2014. If these properties are located in major cities or other high-value areas the property holding could be substantially higher.
Property, democracy and fairness
Major Australian cities have been feeling the housing affordability squeeze for some time now. Owning multiple investment properties does nothing to ease the upward pressure on real estate prices or to increase first home buyer opportunities. Ensuring housing equality – for example, by providing adequate housing for all social groups – is becoming an increasingly complex task in Australian cities.
When the philosopher <a href="https://plato.stanford.edu/entries/rawls/" target="_blank">John Rawls</a> coined the phrase the “property-owning democracy” he was interested in how property might be used to satisfy the principles of justice as fairness. Rawls could hardly have known the illuminating irony he might cast on the property holdings of politicians.
Should we be alert, perhaps even alarmed, at the real estate investment practices of the guardians of Australian democracy? Well, maybe. Some 94% of the members of federal parliament owned real estate in 2013. More than 50% own investment or commercial property. By comparison, ABS data show less than 20% of the general population owned a property other than the one they lived in in 2012. But it’s politicians that set the taxation and housing policies that attempt to address our housing concerns.
Policy push
Senator Xenophon is currently <a href="https://nickxenophon.com.au/media/releases/show/home-affordability-a-super-idea/?Stage=stage" target="_blank">seeking</a> changes to the Superannuation Act that would allow funds to be released to purchase a first home. This would not put downward pressure on first home buyer housing stock. In fact, it could diversify the investment pool and lead to upward pressure.
According to the register, Independent Senator for South Australia Nick Xenophon has a portfolio of eight investment properties.
A spokesperson for Senator Xenophon said the register was outdated, but confirmed the Senator owns four investment units and his super fund also owns a property (under management). The correct figure is expected to be reflected in the next register of Senator’s interests.
Addressing housing disparity
Australia’s democratic process is predicated on notions of impartiality and transparency. The parliamentary register of members’ interests is an important citizenry “watch dog” mechanism. It is a mechanism that should be employed to monitor the property holdings of Australian politicians and then deployed to call their actions to account.
It is important to note that the research doesn’t show a causal link between property holdings and decisions of politicians. But it would be imprudent to assume prima facie that the property holdings of Australian politicians do not play a role in their political thinking, especially as this thinking relates to housing, taxation or even superannuation policy.
What is needed is a broader discussion about housing disparity that fully acknowledges and accounts for these vested interests and tools of political influence. This should include the politics and interests of the politicians themselves.
The naïve assumption that housing wealth will trickle down through a property-owning democracy have been shattered by the realities of 21st century Australian cities. The question which remains is whether our democratic processes can be reorganised to address these now clearly evident housing disparities. A discussion about the real estate ideologies that underwrite the investment agendas of Australian politicians seems like a fitting starting point.
Dallas Rogers is research fellow at the Urban Research Centre, <a href="https://theconversation.com/institutions/university-of-western-sydney">University of Western Sydney</a>.
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>.
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Our $300 million propertied federal pollies: How should they influence housing policy?

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GUEST OBSERVATION
Independent Australian Senator Nick Xenophon is planning a legislative <a href="https://nickxenophon.com.au/media/releases/show/home-affordability-a-super-idea/?Stage=stage" target="_blank">push</a> for first home buyers to be able to access their superannuation savings to pay for a house deposit, mirroring a similar policy in Canada.
As with Australia and Canada, home ownership in New Zealand continues to be seen as a birthright and there is concern about home affordability as house prices, in the main centres at least, continue to rise.
When New Zealand’s workplace-based retirement savings scheme - KiwiSaver - was launched in 2007 the government included several incentives to make the scheme more attractive. One of these was the ability to withdraw contributions to enable the KiwiSaver member to purchase his or her first home.
The government also offers a first home deposit subsidy of NZ$1,000 per year of KiwiSaver membership, with a minimum of three years and a maximum of five years. Both benefits were in response to concerns that the deduction of KiwiSaver contributions from a young person’s pay packet would restrict their ability to get on the home ownership ladder.
How it works
Withdrawing savings for a first home becomes an option after three years or more of KiwiSaver membership. The member’s own contributions can be withdrawn, along with those of their employer. However, the government’s contributions, comprising a NZ$1,000 kickstart for new members and a member tax credit of up to $521.43 per annum, cannot be withdrawn.
The availability of the deposit subsidy is more restricted, with limits on income and the maximum purchase price of the property. Both benefits are only available for the purchase of a first home, with very limited exceptions, and never for an investment property.
These incentives were important in making the controversial scheme more palatable to the public. However, research has shown these incentives are less important to KiwiSaver members than the other government incentives. (Although this is likely to reflect the fact that many members will have already purchased their first home).
Incentives aren’t helping affordability
The benefits for first home buyers do little to assist with home affordability, which relates to the ongoing cost of home ownership. The latest <a href="https://www.massey.ac.nz/massey/learning/colleges/college-business/school-of-economics-and-finance/research/mureau.cfm">report</a> from Massey University’s Real Estate Analysis Unit found home affordability across New Zealand had deteriorated by 7.6% over the year to May 2014.
The benefits are also likely to have limited impact on house prices overall, particularly given the purchase price restrictions associated with the deposit subsidy. Certainly no restraining impact has been indicated, with house prices continuing to rise and ongoing concerns of a housing bubble in New Zealand.
While the benefits could also potentially help push prices up by increasing demand from first home buyers, there is no evidence this has occurred. The purchase price restrictions associated with the deposit subsidy will help curb any potential inflationary impact on house prices. The persistent increase in house prices, particularly in Auckland, continues to be driven primarily by immigration and speculation.
However, KiwiSaver’s first home benefits do assist New Zealanders into their first home by helping them meet the minimum deposit levels required to be able to obtain a loan, something made more difficult with the introduction of loan-to-value ratio (LVR) limits by the Reserve Bank of New Zealand in October 2013. (This has meant that 90% of a bank’s new home loans require a deposit of 20% or more).
The most recent figures available pre-date the LVR changes, but show that more than 10,000 New Zealanders withdrew savings of more than NZ$120 million from their KiwiSaver accounts to assist with their first home purchase in the year to March 2013. In addition, nearly 5,000 subsidies worth more than NZ$15 million were provided in the year to May 2013.
While it’s likely some KiwiSaver members have simply taken advantage of the availability of these benefits, for many young people they will have been vital to helping them achieve their goal of home ownership.
It could be argued that allowing withdrawals from KiwiSaver accounts defeats the purpose of retirement savings. While we know that the earlier you start saving the better, the reality is losing three to five years’ worth of contributions at a relatively young age will not be a disaster – and the retention of the government contributions means the member does not go back to square one as a result of the withdrawal.
Helping young people to help in retirement
While the lifetime benefits of renting versus home ownership continue to be debated, the <a href="https://media.nzherald.co.nz/webcontent/document/pdf/201333/RetExpBudget_Report_Aug2013.pdf">New Zealand Retirement Expenditure Guidelines</a> identified the financial benefits for retirees who own their own unencumbered home, compared to those who are renting. This suggests assisting young people to make their first home purchase will provide benefits for them in the long-term, and improve their retirement prospects.
Another reason to support home ownership is that it provides more secure accommodation for families, compared to renting. Fundamental changes to the property rental market in New Zealand would be needed to change this.
However, there is a large difference between a 25-year old withdrawing three years of contributions and a 50-year old withdrawing 10 years of contributions –the latter will be significantly disadvantaged in terms of retirement income. To counter this it would be sensible to restrict the withdrawal amount or the age at which withdrawals can be made from the scheme.
While the ability to use KiwiSaver savings to achieve a greater level of home ownership has been a successful policy in New Zealand, there is a strong case for introducing some limits to protect its underlying focus on retirement.<img src="https://counter.theconversation.edu.au/content/29950/count.gif" alt="The Conversation" width="1" height="1" style="line-height: 1.3em;">
Claire Matthews is director of academic programmes at <a href="https://www.massey.ac.nz/massey/home.cfm" target="_blank">Massey University</a>.
Claire Matthews has received funding from Finsia. She is affiliated with the Fin-Ed Centre, NZCU Baywide and the New Zealand Association of Credit Unions.
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>.
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New Zealand's experience shows that tapping super is unlikely to improve affordability

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Six Melbourne 7-Elevens outlets were sold last week.
The average initial yield was 4.7%.
The sales ranged between Malvern East at $2.85 million and <a href="https://www.realcommercial.com.au/property-retail-vic-mill+park-501210303" target="_blank">Mill Park</a> (pictured above) at $6.45 million with a $333,339 annual rental.
The other sales were Prahran ($4.23 million), Rowville ($5.9 million), Wantirna South ($5.6 million) and Glen Waverley ($4 million).
The buyers were private investors.
All up, the Withers family secured $71 million last week at the JLL auctions in the latest offering of 15 of its 7-Eleven service station and convenience stores.
Last week.<a href="/expert-insights/investing/yields-tighten-in-latest-7-eleven-sydney-service-station-offering"> seven NSW offerings of 7-Eleven service stations sold</a> at auction with an average 4.6% yield, tighter than the 6.8% two years ago.
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Melbourne 7-Elevens averaged 4.7% yield

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The remaining Crazy Clark’s and Sam’s Warehouse retail stores are expected to close by the end of August, after receivers KordaMentha were unable to find a buyer for the troubled discount retail chain.
As of next Sunday, 17 August, there will be just 15 outlets still operating in the Retail Adventures chain, the parent company of which, DSG Holdings, was <a href="https://www.smartcompany.com.au/growth/42635-jan-cameron-s-retail-adventures-goes-under-for-a-third-time" target="_blank">placed in administration at the start of July</a>.
But receiver Rohul Goyal said in a statement late last week “there has been no buyer for the group or any sizeable part of the group” and the last of the chain’s stores will close on 31 August.
While a spokesperson for KordaMentha told SmartCompany this morning it is possible someone may purchase one or a few of the remaining outlets, 90% of the chain’s stores have already been closed or are in the process of closing.
The latest round of store closures, <a href="https://www.smartcompany.com.au/finance/43189-another-round-of-store-closures-for-retail-adventures-optus-says-data-retention-will-cost-200-million-midday-roundup" target="_blank">announced on Thursday</a>, brings the total number of stores closures to 128 and the total number of employees affected to nearly 1,800.
KordaMentha has also closed the DSG Holdings distribution centre at the Port of Brisbane, where 30 people worked.
The receivers <a href="https://www.smartcompany.com.au/growth/43099-retail-adventures-sale-extremely-unlikely-say-receivers-as-another-22-stores-close" target="_blank">previously said</a> they hope to pay employee entitlements, amounting to $10 million, by the end of September.
While Retail Adventures has survived two previous administrations, with former BRW Rich Lister Jan Cameron <a href="https://www.smartcompany.com.au/growth/economy/30298-jan-cameron-buys-back-retail-adventures-for--58-9-million-but-may-face-legal-battle-with-creditors" target="_blank">buying the company out of administration on two occasions</a>, it appears the chain, which relied on a high-volume, low-price strategy, has come to the end of its line.
Brian Walker, chief executive of the Retail Doctor Group, told SmartCompany the result isn’t surprising, as general discount retailers such as Crazy Clark’s and Sam’s Warehouse rely on a “fragile model” of “high volume and low overheads, in good locations”.
While Walker says these chains may have had “some good performing stores with good numbers”, strong results in a few locations are often not enough to carry a whole chain.
“They have such thin margins to start with, and faced with rising costs, it is very hard to differentiate themselves against the big players with bigger advertising muscle,” says Walker.
Walker says the likes of Target and Big W have made “inroads” in the discount market through their pricing and merchandising strategies, in much the same way the supermarket sector is now dominated by Coles and Woolworths.
“And then we have the whole world of online,” he says.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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ekeating-PWvazjYE25

Last of Jan Cameron’s Retail Adventures stores to close by end of August

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2013 was a stonking year for population growth with the Aussie population increasing by 396,200 persons, with particularly strong population increase in New South Wales (+110,300), Victoria (+107,900), Queensland (+79,700) and Western Australia (+71,300).
However, our analysis shows us that the population growth figure in 2014 will be weaker - and in some states considerably weaker - and we believe that the final population growth figure this year is likely to be closer to 300,000 than 400,000.
In particular, a number of states are in a significant population growth downtrend which we'll explore in more detail below, following last week's <a href="https://www.abs.gov.au/AUSSTATS/abs@.nsf/Lookup/3401.0Main+Features1Jun%202014?OpenDocument" target="_blank" style="line-height: 1.3em;">Overseas Arrivals and Departures</a> release from the Australian Bureau of Statistics.
Short-term arrivals record high
As a first point of interest, the number of short-term overseas arrivals in Australia has hit record heights and may soon even be approaching 7 million on a rolling annual basis.
This is of significant consequence over the longer term as Australia becomes an increasingly popular country of choice for visitors and probably long-term settlers too.
 <img src="https://4.bp.blogspot.com/-u9v2IgwH1OM/U-US6ks0g5I/AAAAAAAAPFo/KwBbT8BNFhU/s1600/1.jpg">
Long-term arrivals easing 
The number of long-term arrivals in Australia has pulled back to a rolling annual level of just over 700,000, after hitting a record high of more than 790,000 last year.
The monthly figures have shown quite a significant pullback since February suggesting that we are now in an entrenched downtrend of long-term arrivals.
<img src="https://1.bp.blogspot.com/-cTyvPDQPPAs/U-US60USjZI/AAAAAAAAPF0/ryT2mXLqN98/s1600/2.jpg">
When offsetting long-term departures this equates to rolling 12 monthly net long-term overseas migration of just over 370,000 persons, which is approximately 10% lower than the peak levels seen in Australia. 
 <img src="https://4.bp.blogspot.com/-axv04E8mtvQ/U-US65ZHHPI/AAAAAAAAPFs/V0yJ2T52UzY/s1600/3.jpg">
When throwing in the natural rate of increase in Australia as well as other short-term movements, this shows us that we will still experience strong population growth in 2014 at about double the long-term average, but the levels will be quite some way down on what we saw last year.
Settlers by country of birth - fewer Poms and Kiwis 
One of the interesting standout demographic trends to note that Brits and and New Zealanders are rapidly pulling the pin on migrating to Australia, with the numbers continuing to decline.
On the other hand, the number of settlers from China and India has been picking up strongly, which could become a significant structural change in our demographic make-up.
<img src="https://4.bp.blogspot.com/-T36_2fjzT14/U-UTCay_QBI/AAAAAAAAPGA/-Wdfvd9JnXQ/s1600/4.jpg">
Asian buyers
There have been countless inciteful comments over recent times about "Asians buying our homes"; "Asians taking our jobs" etc...plus ça change.
I thought I'd run the below rolling 12 monthly chart of settlers by continent over the long run to underscore an important point - over the past decade the "Asians" which people are fingering are often in fact Australians. 
The statistics show that Australia is increasingly becoming a country with a population of Asian heritage, and contrary to the widespread beliefs spouted on the internet, not all Aussie-Asian migrants hail from China!
 <img src="https://4.bp.blogspot.com/-aDvwBLU8Uxk/U-UTDt_LDOI/AAAAAAAAPGQ/fyxF-RwnlWs/s1600/5.jpg">
Splitting it down a little, it's clear that the Asian migrants come from all over Asia, although it's true that the increase in immigration from NE Asia and South/Central Asia is largely a result of increases from China and India in particular.
 <img src="https://3.bp.blogspot.com/-pOQQoFJ_Xg8/U-UTCb1AgiI/AAAAAAAAPGE/0n04hIYG3tY/s1600/6.jpg">
Population growth will be very different in 2014
Population growth in 2014 will be very different from what a number of commentators seem to be expecting.
While the numbers jump around a bit and it is not possible to forecast with a high degree of accuracy, projecting forward the trends from previous <a href="https://www.propertyobserver.com.au/https://www.abs.gov.au/ausstats/abs@.nsf/mf/3101.0" target="_blank">ABS Demographic Statistics</a> releases suggests something quite different for 2014.
Natural increase in 2014
Natural increase in population we might reasonably expect to remain fairly steady as compared to 2013 at approximately 160,000, implying that this segment of growth will be most heavily focused on the more populous states.
For 2014, we might expect to see natural increase of something in the region of:
New South Wales - 50,000
Victoria - 37,500
Queensland - 35,000
Western Australia - 20,000
South Australia - 7,500
Other - 10,000
Total - 160,000
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Net overseas migration and interstate migration in 2014
NSW
Net overseas migration has been very, very strong in New South Wales (i.e. Sydney) and has been tracking very solidly at around 70,000 per annum. 
After allowing for adverse net interstate migration of -15,000, New South Wales appears likely to see population growth in 2014 of around 105,000, which is exceptionally strong.
VIC
For Victoria, with the rate of net overseas migration having slowed in December 2013 and unemployment rising to 7% seasonally adjusted, we expect net overseas migration plus net interstate migration to be slower at approximately 50,000 in 2014, leading to a total state population growth for 2014 of 87,500.
QLD
Queensland is a major beneficiary of net interstate migration seeing +7,000 in 2014 which we may expect to continue. 
However, net overseas migration to the sunshine state dived in the December 2013 quarter. It's not yet clear whether that was a rogue print or the beginning of a trend. 
The slowing of total net overseas migration to Australia over the last six months suggests that it could be the latter, in which case total population growth could slow to around 60,000 in 2014 from nearly 80,000 in the prior year (generally, we take the conservative projections here).
SA
Net overseas migration also dived in South Australia in December 2013 and the state also suffers from a 'brain drain' and adverse interstate migration via a of around 4,000 per annum. 
We therefore project that total population growth in South Australia will be weak in 2014, at around 10,000 per annum. WA
Previously strong interstate migration to Western Australia had dried up almost completely by the end of 2013.
Meanwhile net overseas migration is likely to pull back in 2014 quite significantly as the mining boom peaks - we expect significant declines from 45,000 in the prior year, to perhaps only half of that figure in 2013. 
This is a highly unpredictable figure to estimate, but Western Australia's population growth, which was rampant in 2013 at 2.9%, could potentially dive to as low as 40,000 this year.
Other
And you can essentially throw a blanket around the rest, with the other states adding perhaps 7,500 persons between them.
Total Australia 2014
Totting that up, we could see:
New South Wales - 105,000
Victoria - 87,500
Queensland - 60,000
Western Australia - 40,000
South Australia - 10,000
Other - 7500
Total - 310,000
Clearly these figures will not be accurate, as they cannot be, but they are the best projections we can come up with given the available information and it will be interesting to see how the 2014 actuals track once they begin to roll in.
Where will the population growth happen?
Finally, where is the population growth actually take place?
Please do not be head faked by commentary which suggests that the cities are becoming less centric in nature, because they are not. In fact, all of the available evidence proves precisely the opposite is true. 
The major cities are becoming "self sustaining job magnets" and the population growth is taking place increasingly in inner and middle ring suburbs of the four major capitals, while regionally population growth is lagging badly.
<img src="https://www.rba.gov.au/speeches/2014/images/sp-so-150514-graph5-small.gif" alt="Graph 5: Population Density (Persons per square kilometre, 2011)">
Note how the change in population density was becoming ever more centrally focused over the half decade to 2011.
<img src="https://www.rba.gov.au/speeches/2014/images/sp-so-150514-graph9-small.gif" alt="Graph 9: Change in Population Density">
And jobs density shows the same picture.
<img src="https://www.rba.gov.au/speeches/2014/images/sp-so-150514-graph4-small.gif" alt="Graph 4: Job Density">
As was the change in jobs density from 2006 to 2011, which was ever more closely focused on the large city centres.
<img src="https://www.rba.gov.au/speeches/2014/images/sp-so-150514-graph8-small.gif" alt="Graph 8: Change in Job Density">
The result of this is that house prices continue to rise faster in suburbs closer to the city centres, and particularly in the lager cities.
All of the available evidence could not be more clear on this point.
<img src="https://www.rba.gov.au/speeches/2014/images/sp-so-150514-graph11-small.gif" alt="Graph 11: House Price Gradient">
Meanwhile small cities and regional centres are now struggling because the great household debt binge which ran for 15 years from the early 1990s has long since finished circa 2006.
If you want to source capital growth in this modern, post-GFC era of record low borrowing rates and increased foreign buyer desire to store wealth in prime location real estate, look to inner suburbs of the largest cities.
This has always been my viewpoint because I learned a huge amount from my experiences in a more mature city (London).
However, since I may suffer from confirmation bias, I would urge readers to consider what independent studies from the <a href="https://petewargent.blogspot.co.uk/2014/05/rba-on-housing" target="_blank">Reserve Bank of Australia (RBA) have found</a>. And for that matter, consider what the <a href="https://petewargent.blogspot.co.uk/2014/07/x" target="_blank">Grattan Institute</a> found as well.
Very conclusive indeed.
You can visit <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) or Pete's <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blog</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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