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 Basement parking has been replaced by an expanded podium designed to improve functionality while reducing the tower's overall visual impact.&nbsp;&nbsp;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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GUEST OBSERVATION
The major Australian banks have recently cut fixed mortgage rates below 5%. They have done so without any prompting from the Reserve Bank of Australia, which may actually start raising the policy rate within the next six months, especially if inflation continues to run around the top end of its 2-3% target range.
Why, then, did the Australian banks cut their mortgage rates?
One possible reason lies in an obscure old macroeconomic theory of “secular stagnation” that has been gaining credence recently throughout the financial industry worldwide.
Resurrecting an old theory
In a speech at the International Monetary Fund last November, Larry Summers, Harvard economist and former US Treasury Secretary, resurrected this old theory, originally developed by another Harvard economist, Alvin Hansen, in the late 1930s.
When a consumption-led recovery in the midst of the Great Depression started to falter, Alvin Hansen was inspired by the then nascent Keynesian idea that the economy as a whole could persistently suffer from inadequate demand in the absence of a massive policy intervention.
US population growth had slowed dramatically during the Great Depression and Hansen believed this was a “secular” (that is, long-term, non-policy) source of decline in private investment in new capital infrastructure. According to his very Keynesian theory, this weak investment brought consumption down with it and, like John Maynard Keynes, Hansen did not believe in the ability of wage and price adjustment to restore the economy to full employment in the face of inadequate demand. Instead, he believed that fiscal policy would have to take up the slack, which it did with the onset of World War II.
The baby boom after the war meant that the theory of secular stagnation was largely forgotten. But Larry Summers sees similar forces at work in recent times and he considers secular stagnation as a leading explanation for why the US housing bubble in the 2000s didn’t result in an overheated economy at the time.
One might question the idea that the US economy didn’t overheat prior to the global financial crisis. But real GDP growth and inflation were actually quite moderate by historical standards throughout the 2000s. Summers speculates that this was because economic growth would have been much slower in the absence of a bubble due to secular stagnation.
Global savings glut and the chase for yield
This story is somewhat related to former Federal Reserve Chairman Ben Bernanke’s “global savings glut” hypothesis about why interest rates remained so low throughout the 2000s. In Bernanke’s view, there were too many savers, especially from Asia, chasing too few high-return and often risky investments. This “chase for yield” put downward pressure on interest rates and fuelled the US housing bubble.
So what is the prediction of secular stagnation for the future and why might it explain the Australian banks’ recent cuts in mortgage rates?
The basic prediction of the theory is that economies throughout the world will continue to stumble along with anaemic growth and no inflationary pressures for the foreseeable future. At best, there will be more moderate growth from time to time, but it will occur due to periodic financial bubbles triggered by a chase for yield and low interest rates. Faced with slow economic growth and low inflation, central banks will contribute to these bubbles by lowering their policy rates or making large-scale asset purchases (aka “quantitative easing”) when rates hit the zero lower bound.
In cutting their mortgage rates, the Australian banks appear to have bought into the secular stagnation theory and are clearly betting on continued downward pressure on interest rates driven by a global chase for yield.
Is there hope for a less stagnant future?
Can anything to be done about secular stagnation or, perhaps, is its relevance to the current economic situation overstated?
Similar to Alvin Hansen in the 1930s, Larry Summers argues that public investment in infrastructure provides the best way to address inadequate demand. He notes that current low interest rates also mean that the cost of financing public infrastructure investment is unusually low.
Would this fiscal policy approach work? Japan is an obvious place to look at in terms of what might happen in the face of demographic-led stagnation. And the results are not particularly promising. Japan has undertaken massive debt-financed infrastructure spending and this has not exactly produced a booming economy. Of course, unemployment has remained low and deflation, not inflation, has been the greater problem. So perhaps things would have been even worse in the absence of Japan’s massive fiscal interventions.
Meanwhile, it’s not really clear how relevant secular stagnation is for the rest of the world, including Australia. Indeed, in an odd way, the possibility of secular stagnation means that we should at least briefly celebrate when we see Australian inflation running at the top end of its target range.
This is not to say that the RBA should abandon or revise up its inflation target. But higher inflation is an indication that the secular stagnation hypothesis may be incorrect, while the RBA can always raise its policy rate to bring inflation down again in the future. Of course, the Australian banks currently betting on low interest rates won’t be quite as happy if this scenario were to play out.
James Morley is professor of economics and associate dean (research) at <a href="https://www.asb.unsw.edu.au/Pages/default.aspx" target="_blank" style="line-height: 1.3em;">Australian School of Business</a>. He receives funding from the Australian Research Council.
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>.
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jmorley-2PQc6nmtuL

Why did Australian banks cut their mortgage rates?

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There is a growing disparity in financial comfort between households described as ‘asset-rich’ and other households, particularly between age groups, according to ME Bank’s latest biannual Household Financial Comfort survey conducted in June.
ME Bank’s consulting economist, Jeff Oughton, noted that the survey sees this distance between the two groups growing due to a rise in property prices.
“Asset-rich households (including self-funded retirees and home owners) have benefited from a sustained rise in global and local equity prices as well as significant gains in residential prices, especially in Sydney, Melbourne and Perth,” said Oughton.
“In contrast, limited household income gains and rising concerns about cash savings among most other households have seen their financial comfort falling,” he said.
Those aged 65 plus saw their financial comfort increase by 9% over the six months to June to the highest number since the survey began, according to the survey, while all other life stage groups fell significantly. In particular, Gen X fell by 4% to its lowest level since the survey commenced.
Looking at households, retirees were the most comfortable. Self-funded retirees' financial comfort was up 8%, while government-funded retirees fell 15%.
All other main household groups’ comfort fell in the six month period.
In total, 54% of households reported being unable to save each month, the highest in three years, with overall financial comfort falling 3%. This is reversing the gains recorded in 2013.
Those breaking even numbered 42%, while 12% were drawing on savings, loans or home equity to get by.
Financial comfort is expected to drop even further over the next 12 months.
“Household income has been negatively impacted by relatively low average wage growth, moderate job gains, rising unemployment and corresponding falls in job security over the period, as well as an anticipated tightening in government income assistance and tax benefits announced in the Federal Budget,” said Oughton.
“About the same proportion of Australians (30%) reported income gains as income falls during 2013/14, compared with the corresponding outcomes of 39% and 28% respectively during the previous financial year.”
In New South Wales and Western Australia, comfort fell by 5%. In Victoria, a 2% drop was seen, while South Australia fell by 6%. Queensland remained unchanged, and Tasmania rose 10%, while the ACT fell by over a third. ME Bank notes that these smaller sample sizes make for more volatile results.
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jduke-EHk3XBmHkn

Growing wealth inequality in Australia fuelled by rising property prices: ME Bank

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<div>
The international fashion chain H&amp;M will shortly open its first Sydney store in the revamped Macquarie Centre in North Ryde.
</div>
The Daily Telegraph reports the store is expected to open on 16 October in Sydney's north-western suburbs.
Macquarie Centre will possibly have other global brands including Victoria’s Secret, Uniqlo and Zara, whom are all currently negotiating leases.
David Jones and Myer will be there too, all hoping to capitalise on the forecast that by 2031 Macquarie Business Park will be Australia’s fourth-largest business centre.
Australia's first H&amp;M fashion store<a href="/expert-insights/investing/h-m-set-for-australian-roll-out-as-its-first-local-store-launches-tomorrow"> opened in Melbourne's GPO building</a> in the Bourke Street mall in April.
The chain has about 3,182 stores in 53 countries, opening a further 375 this year.
It took around three years to find the initial outlet sites in Australia, including the distribution warehouse at Eastern Creek in Sydney. 
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jchancellor-FAypfDUnLy

H&M's first Sydney store set for a 16 October opening at Macquarie Centre, North Ryde

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The Chinese developer JQZ has reportedly paid $50 million plus for ­Woollahra Council's former depot in Waterloo.
<a href="https://jqz.com.au" target="_blank">JQZ</a>, which also emerged last year as the $47 million development site buyer at nearby 904 Bourke Street, was previously known as the Tong Group which was founded in 2005.
The 1.4 hectare holding at 52-54 O’Dea Avenue is located within walking distance of Green Square railway station.
<img src="/images/2014/08/05/1.jpg" alt="">
The site is zoned for mixed-use of up to about 18 storeys with one tower, plus four x eight storey buildings.
JQZ has more than 1,000 apartments under way across Sydney having developed ­apartments in Burwood, Parra­matta, Homebush, Harris Park and Rockdale.
The Bay at Meadowbank is another project.
It has also recently marketed 250 apartments in its Parramatta Road, Homebush project, Grand Central, Homebush, which is a development site with 430 apartments scheduled for completion by 2016. Grand Central development will comprise two buildings, a 7-storey and 13-storey.
JQZ paid $30 million for the 10,000 square metre site at 6-18 Parramatta Road, which is its 10th Sydney project.
JLL had the council offering, the Australian Financial Review report said.
The local paper has advised that council received the first of four payments, a $5.6 million deposit, from Chinese developer JQZ as part of a deferred two-year sale.
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JQZ secures Woollahra Council's Waterloo depot

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Investors will be looking to listed property companies’ results and outlook statements for indications of whether the market for residential real estate has deteriorated in light of weakening consumer confidence.
Dalton Nicol Reid portfolio manager Scott Bender said investors were expecting the residential property sector to continue to be reasonably buoyant, but not as strong as in the first quarter of 2014.
“The market is going to be focused on the commentary on the outlook. Contracts on hand will be strong but we’re interested in enquiry and conversion rates and whether they have seen an impact from the softer consumer,” Bender told Property Observer.
“Residential will still be quite strong but there will be a focus on whether [property companies] see softening in those leading indicators following the federal budget.”
Stockland Property Group, which reports to the market on 18 August, will be one to watch given the size of its residential book, said Bender, who manages Dalton Nicol Reid’s property trust portfolio.
Mirvac Group’s results would give an indication of the outlook for medium density residential developments, particularly given the group’s exposure to the NSW market. Bender said NSW property had been selling well for Mirvac and he expected that trend to continue. Mirvac reports on 21 August.
Bender expects further merger and acquisition activity in the coming months as companies are able to access low cost debt and equity and it is becoming more difficult to increase revenue.
“Given there’s cheap equity and cheap debt [merger and acquisition activity] is going to be on the radar but whether companies are going to get something cheap enough to make the numbers work will be the tricky part,” he said.
Land developer Australand is the target of a takeover bid by Singapore-based Frasers Centrepoint. Australand’s directors have recommended shareholders accept Frasers’ off-market takeover bid of $4.48 cash per Australand security. Earlier in the year, Stockland made an unsuccessful play for the group.
Australand reported on 21 July that it had made a $131.5 million net profit after tax for the half year results to 30 June, up 49% on the prior corresponding period.
It reiterated earlier guidance that earnings for the full 2014 year were likely to be up 20-25% on 2013, and earnings per share would grow by 10-15% from 2014 to 2016, assuming the residential market remained strong. However, the company noted that Frasers would review its structure and operations if the takeover proceeded, so guidance may change. 
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zfielding-GvX3Uq9KTa

Reporting season may hold key residential market indicators for investors

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I feel some sympathy for the people conducting the Senate inquiry into affordable housing.
Based on the media reports I’ve seen, they’re being served up a motley mixture of propaganda, misinformation and outright lies by organisations pushing their private agendas.
How will they sort the wheat from the chaff, given that most of what they’re being fed is chaff?
The representative bodies of elements of the real estate industry are simply presenting their wish lists on behalf of their members. Each one of them would have us believe that the solution to the problem is to give their members everything they’ve ever wanted.
Apparently first home buyers around the nation will rejoice if real estate agents can be helped to earn more commissions or developers can make more money faster.
Firstly, what is the problem? Or, more pertinently, is there a problem?
The premise of the inquiry is that young adults can’t afford to buy a dwelling. I’m quite certain that’s a false premise. It contradicts all the available evidence.
First home buyers appear to be less active than before. And it has been assumed – incorrectly, I’m quite sure – that this is solely because they can’t afford to buy. No one has considered that there might be another explanation, or several other explanations.
Last Friday I was guest speaker at a business luncheon. I addressed a number of topics under the heading – “Residential Property – the market no one really understands” – and there followed a long discussion of the issues.
The hottest topic was the motivation of young Australians with regards to home ownership. Many of those present – who have adult children and/or work with young adults – observed that most twenty-something Australians have little or no interest in buying real estate.
Affordability is not the issue. They simply have other priorities. I was interested to hear those comments, but not surprised because this has been revealed in several surveys in the past 12 months. Young adults, generally speaking, don’t want to repeat the life path of their parents, which included being married with kids and a mortgage before 30.
They want lifestyle and travel. They’re more inclined to invest in themselves than in real estate. One view expressed at the luncheon was that many would rather start a business than buy property.
There’s another factor. I think there’s more first home buyer activity that the figures show, because most state and territories have changed their grants system. Grants are available now for new homes only. But the research shows that most first timers buy established properties, because they’re considerably cheaper and often better located.
There are first home buyers out there slipping under the radar because they’re not claiming grants.
All of that is an inconvenient truth to builders, developers and real estate agents. They want politicians to believe there’s a crisis and they have to act to fix the perceived problem.
And the solution they’re presenting to the Senate inquiry is: give us what we want and the problem with go away.
The <a href="/expert-insights/investing/five-supply-reforms-that-will-assist-affordability-master-builders-australia">solution presented by Master Builders Australia</a> is to release more land, make approvals easier and faster, and reduce or eliminate infrastructure charges to developers – with penalties for governments that don’t toe the MBA line.
That’s not a solution. That’s the lifetime wish list of builders and developers across the nation.
The attitude of the Real Estate Institute of Australia is particularly interesting, because their statements contradict their own research. The REIA co-publishes a quarterly affordability index that shows that affordability is the best it’s been in over a decade. But it’s telling the Senate inquiry that there’s a big affordability problem and the government must act to fix it.
Either the REIA index is nonsense or their submission to the inquiry is. I’d love to know which they think it is.
The REIA claims there’s a national housing shortfall of 100,000 dwellings. Developer bodies make similar claims. But they don’t justify the claim. They demand that we accept it as fact, without presenting any evidence. I think it is real estate’s greatest myth (and have presented my evidence many times in this column).
So, the <a href="/expert-insights/buying/government-needs-to-stem-exodus-of-first-home-buyers-reia">REIA’s solution to the problem</a> their own index says doesn’t exist is to make lots of changes to ensure more property deals happen: assistance to first home buyers, access to superannuation to make buying property easier, retention of negative gearing for investors, abolition of stamp duties and release of more land.
It’s pure coincidence that all these measures are likely to line the pockets of REIA members around Australia.
At some point in time, developers, agents and other servants of the property industry will have to accept that this generation of young adults will never adopt the priorities of their parents. They have better things to do with their lives.
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>.
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terryryder-YECXbqmri2

Real estate industry bodies more concerned with lining their own pockets than easing affordability

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Have a look at a home loan comparison website and you’ll see a growing number of variable rate mortgages are now below 5%.
With mortgages this affordable you could refinance out of an old expensive loan and into a low cost one; and it’s also a good opportunity to repay more than you have to – to build up equity more quickly.
But a lot of people are asking if the low rates mean it’s time to buy an investment property?
Firstly, I suggest potential investors separate their thinking between the mortgage interest rates and the investment itself. Long after variable rates have returned to normal levels, you’ll probably still own this investment and it should make financial sense.
The point of an investment property is to harvest the ‘total gross yield’ – that is, you want the property to produce rental income and capital growth. You want enough rental income to help pay the mortgage and meet costs month-to-month, and you want sufficient capital growth so that over time it becomes a more valuable asset.
If you can achieve a 5% per annum rental yield and the average growth in the suburb is 3% per annum, you have an 8% gross yield. But there are many things that can vary this result.
Does the property need renovations? Is it maintenance-intensive? Will you use a property manager? Is it close to amenities such as schools, shops and train stations and likely to be sough-after by tenants? All of these things will affect your yield over the long term, and property is a long-term game.
There’s really no substitute for homework – you must have a clear view about ownership costs.
You also have to think about negative gearing, which is a tax rule that allows you to take any losses on the property and use them to reduce your taxable income, thereby reducing your taxes.
This brings us to the cost of your mortgage. Many people want to buy an investment property simply because they can, but the cost of entry isn’t the end of the discussion.
The investment mortgage has to be repaid from income, while most people are also funding the family home loan from the same income. Even if negative gearing gives you a small tax break, you have to calculate if you could afford to pay the investment property mortgage if the rates moved upwards by, say, 2%, or 3%.
Fixed rate mortgages only give you breathing room for the term of the fixed rate – they don’t make rising interest rates go away.
Low interest rates make it affordable to buy, but you have to know what it costs to own it, which means understanding where interest rate rises will leave you.
And, a final hint: the best property investments are made at purchase. Try to buy a property at a good price, with low maintenance, in a high-demand area, where prices are just starting to pick up. Be patient and do your homework.
If you buy well, you’ll do well.
Mark Bouris is executive chairman of wealth management company <a href="https://www.ybr.com.au" target="_blank">Yellow Brick Road</a>.
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mbouris-tauSvXGAM2

Interest rates are low, but does this mean you should buy an investment property?

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Golf was an utter obsession for me as a teenager, the blistered hands testament to the fact that my mates and I would think nothing of playing 36 or even 54 holes in a day through the school hols.
At my best I was a single figure handicapper, which may sound impressive if you're a high handicapper, but in reality given the endless summers spent out on the course or on the practice range, I probably should have gotten lower. Upon heading off off to uni to study there was far less time to dedicate to the game and I was frustrated to see the junior pros from our club improve and overtake me - golf is a terribly unforgiving sport to those who do not practice. 
The moral of the story is that if you can't be the best at something, then you should just quit and give it up. 
Here are five golfing analogies for investors I picked up from watching the British Open...
<ul>
<li>Discipline</li>
</ul>
My teenage mates and I were always thrilled by watching John "Wild Thing" Daly play golf with his "grip it and rip it" mantra. 
An eccentric anti-establishment character, Daly drove coaches and administrators to distraction with his non-conformist behaviour, and against all the odds won two major championships including the British Open itself at the home of golf, St. Andrews.
As young lads, Daly appealed to our young male egos. He belted the golf ball a proverbial mile with his 'Killer Whale' driver and a bit like us he was rebellious, drank lots of beer and had a terrible haircut.
As a general rule, though, major-winning golfers are not like John Daly. 
Ian Woosnam reportedly enjoyed a pint, and some golfers periodically over-indulge in food or other 19th hole pleasures, but most pro golfers at the peak of their game are relatively fastidious in their discipline and detailed preparation
Routine, preparation, discipline.
Discipline is the first rule of successful investment. 
Take the stylised example of a person aged 25 who earns $50,000 per annum and receives annual pay increases of 3.5% through their working career. 
Thanks to compounding growth, even at only 3.5% annual pay increases their total cumulative gross earnings could be far, far higher than you might intuitively expect.
<img src="https://4.bp.blogspot.com/-WuK1fnaEnrs/U9Kkn99EGLI/AAAAAAAAOwU/M7QG0nufC5w/s1600/1..jpg">
It's not fashionable to say so, but wages growth has outpaced inflation for years in Australia across all income brackets, and on average folk have <a href="https://petewargent.blogspot.co.uk/2013/05/fishers-money-illusion" target="_blank">more disposable income</a> than in years gone by. 
It takes a level of commitment and discipline, sure, but the fact of the matter is that most people with a full-time job should be able to save and invest something for the future.
You tend to make some enemies pointing this out, but there's nothing like living in a Third World country for a couple of years to change your perspective and realise just how blessed we are to live in a country of abundant wealth such as Australia. 
The first rule of investing is to establish the discipline to spend less money on junk that we don't need and set aside money to invest.
One of the scariest things about working in professional practice where there are many high income earners is seeing people work for decades yet setting aside nothing for the future (often in Britain, not even a pension contribution).
Article continues on the next page. Please click below
<hr class="system-pagebreak" style="line-height: 1.3em;">
<ul>
<li>Sacrifice</li>
</ul>
In a similar vein, the greatest golfers through history have made huge sacrifices to reach the top echelons of the game.
Instead of idolising John Daly or the eccentric genius of Severiano Ballesteros, in hindsight as youngsters we should have been learning from the unstinting work ethic of the single-minded Sir Nick Faldo.
From a very young age Faldo was driven by a "quest for excellence", and dedicated countless thousands of hours to being the finest and most thoroughly prepared player that he could be. 
A golfer of incredible mental fortitude, Faldo took the unthinkable step for an Order of Merit winner of remodeling his swing under the watchful gaze of David Leadbetter in the mid-1980s. 
After enduring several frustrating years in the relative wilderness, the brave step paid dividends and Faldo went on to win no fewer than six major championships, becoming a true golfing great and fulfilling his quest for excellence.
Outstanding results in all spheres almost always require sacrifice and a willingness to go the extra mile. 
<ul>
<li>Patience</li>
</ul>
At the major championships, pro golfers aim to get themselves into contention by keeping the ball in play and making few costly errors, perhaps looking to pick up a few birdies on the par five holes.
As a rule, professionals don't go out on to the course aiming to shoot a 62, instead they focus on playing the percentages, approaching each shot in isolation and playing every situation on its merits.
Golfing legend and eight-time major winner Tom Watson aged 64 incredibly recently shot his age - a round of 64 - by applying precisely this disciplined approach.
If a player is on course to miss the cut towards the end of the second round they may take a few more calculated risks, but generally major championship golf is a percentages game and being too aggressive can backfire.
Golf psychologists therefore tend to use phrases like "control the controllables", "routine, routine, routine" and "beat them with patience". 
I recall the junior golfers at our club frequently annoyed senior members by knocking them out of Matchplay events where points are awarded for winning individual holes, yet were rarely so successful in the Medal tournaments where cumulative strokes are instead recorded.
Being a good investor is more akin to a Medal competition than a Matchplay event...but it often takes an early defeat or two to understand this.
The first time I went to a casino I won £690 and I thought it was brilliant (bad news). The next time we went I lost the lot which was a salutary lesson, and funnily enough I've gambled in casinos very rarely since! It also took me a hefty $50,000 loss on speculative mining shares to realise that there is no need to go down that path again.
Investing should be fundamentally simple for those of a patient temperament and an accumulator's mentality. Why speculate in low quality companies which have never made a profit or buy property in remote mining towns to chase a fast buck? 
Far better to aim to continue accumulating high quality assets such as shares in dividend-paying blue chip companies, index funds or well-located capital city properties, which will continue to deliver returns in perpetuity. 
 <img src="https://4.bp.blogspot.com/-xZ1-7M0G0Vg/U9KkuMdePYI/AAAAAAAAOwc/EOHQeczwPzY/s1600/2..jpg">
 
<hr class="system-pagebreak">
<ul>
<li>Leverage</li>
</ul>
I'm not sure about you but I can't move my hands particularly fast. Yet when a supreme athlete such as Tiger Woods hits a golf ball, it really stays hit and the clubhead speed generated can top an awesome 120 miles per hour. How so? The reason is due to leverage.
Using the longest club in the bag, the 'one wood' or driver, there are golfers out there who can hit the golf ball extraordinary distances...up to half a kilometre in some cases! As Archimedes said: "give me a lever long enough lever and I shall move the world". 
Whooshka! Of course, in tournament play, one will rarely see a golfer hit a ball in such a manner, due to the necessary lack of control. All golfers use leverage to their advantage, but it must be utilised with a level of restraint and control, and a bit of common sense. 
Leverage is the principle reason that average investors look to investment property - residential real estate is the one asset class which allows them to use the greatest leverage. 
I recall as a nipper my parents selling their house which they'd bought for £4,000 in Sheffield for more than double the amount they had paid for it. They upgraded and later bought a house for £30,000 which they'd negotiated down by £1,500.
Even as a youngster I was struck by three things. Firstly, the sheer size of the numbers involved as compared to my old man's reasonably modest pay cheque.
Secondly, how even for a family where funds were pretty tight - a family of five boys supported on my Dad's probation officer salary - it was possible to build thousands of pounds of equity over time as a property owner.
And thirdly, how each time my parents moved house, prices had moved higher - much higher - and that wasn't only because they were trading up.
That's the combined power of leverage and compound growth at work, which allows sensible homeowners to build up significant equity or net worth over time.
In my case, I intuitively looked to investment property when I was in my 20s because it allowed me to invest with millions of dollars that I could not otherwise have done.
It should go without saying, however, that leverage is a double-edged sword and should only be used sensibly and with a long-term outlook, since while gains can be magnified, so too can losses.
The anti-real estate contingent tend to oscillate interchangeably between two lines of argument: that property has not been a good investment (demonstrably false, if you have invested sensibly) and that property investment is unethical or socially useless.
The fact of the matter is, if you know what you're doing, property can be an outstanding investment as part of a balanced portfolio.
<ul>
<li>Risk Management</li>
</ul>
If you were watching the British Open carefully, you'd have seen the brilliant Rory McIlroy decline to use his driver on the 72nd hole, instead opting to hit a more conservative long iron.
Why would a guy who had been melting it up to 400 yards off the tee across the hard links turf not use his biggest club? Risk management. 
McIlroy had already taken calculated risks earlier in the tournament and now was using less leverage and eliminating risk. It worked a treat and he took out the claret jug as the Open Championship winner.
Successful investing is very much like a 72 hole golf tournament in the the winners must use sound 'course management' to avoid making catastrophic mistakes and manage risk.
Moreover, it generally pays to be a bit more aggressive and invest in what are perceived as riskier growth or ownership when you are younger and have time on your side. 
Later in the game you may elect to deleverage or transition towards income assets, but the key is to get yourself into the happy position of having these choices.
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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pwargent-M4siyDbqQY

Five golfing analogies for investors

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Property management revenues have been recorded as jumping by 10% since June 2013 for Raine &amp; Horne, with this wing of the business expected to become increasingly prominent as investor numbers climb.
Raine &amp; Horne’s chairman and CEO Angus Raine said that in recognition of the growth in this part of the market, they have employed a business support and development manager, Lauren Kirk, to support their nationwide property management arm.
“When the next batch of figures is released by the ATO, I expect to see a major spike in the property investor numbers, as self-managed super funds and individual investors have dominated residential property in recent times,” said Raine.
Kirk is planning to assist with increasing efficiencies, rent rolls and revenues.
Earlier this week it was announced that Charles Farru-Hill and Robert Lawson had been<a href="/expert-insights/investing/raine-horne-commercial-expands-wa-team"> appointed to lead Raine &amp; Horne Commercial Western Australia's property management arm</a>.
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Property management revenues up 10% for Raine & Horne

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It comes as little surprise that Master Builders Australia’s submission to the Senate Inquiry into affordable housing looks at the ‘supply’ side of the equation.
They say that boosting the national housing supply is the key to increasing affordability, particularly due to the current shortages.
“Reducing the massive shortfall in new housing is the major challenge the nation faces in maintaining home ownership as a realistic aspiration rather than an unaffordable dream,” said Master Builders Australia CEO Wilhelm Harnisch.
“Supply side reforms must include measures to generate appropriate funding for social housing,” he said.
Here are the five points that they have suggested will help with housing affordability:
<ol>
<li>National competition style payments to local councils that improve supply of adequate releasable land (both greenfield and brown field’) and implement more efficient building and planning approvals. 
</li>
<li>Agreed ‘master plans’ to deliver positive housing outcomes that cover urban consolidation and urban and regional infrastructure plans to deliver a housing mix to meet the needs of different demographics. 
</li>
<li>All local councils to develop Land Release Plans which identify  and provide an indicative forward schedule of ‘greenfield’ and ‘brownfield’ land over a rolling 10 year horizon which could be made available for housing development. 
</li>
<li>Make state and territory infrastructure charges subject to a housing affordability assessment to ensure that the supply of adequate housing stock is not being undermined. The Commonwealth should penalise states and territories which impose excessive developer charges should be penalised through a reduction in transfer payments. 
</li>
<li>An online ‘InfoHub’ should be established by the Commonwealth to allow ready comparison local councils and state and territory jurisdictions and the efficiency of their processes, developer charges and progressive land release schedules.</li>
</ol>
Source: Master Builders Australia
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