<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

&nbsp;

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“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

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Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

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Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

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The property data and analytics company, CoreLogic, has recruited Lisa Claes to be its next managing director for Australia and New Zealand.
Ms Claes is currently ING Direct's executive director for customer delivery.
She will start in August, taking over from Graham Mirabito, who is set to become the US-based group's international chief executive.
<div>Graham Mirabito said Ms Claes had 20 years experience in the mortgage, financial services and insurance industries, which well fitted the CoreLogic business.</div>
<div> </div>
<div>"ING Direct has been a leader in analytics," he said. "Lisa will bring a lot of capability to improve efficiency, engagement, and the on-line experience," he told The Australian Financial Review.</div>
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<div> </div>
<div>In his years at the helm since October 2005, the Australian staff has grown from 75 to around 700 and its name changed from RP Data to CoreLogic RP Data to now just CoreLogic.</div>
<div>
The local operation is now a fully owned subsidiary of the US-listed, $4.6 billion, CoreLogic Inc, with much of the international expansion into China and Japan driven from Australia.
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<div>Mirabito told Fairfax Media much of his international focus would be on Europe.</div>
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<div>RP Data adopted the sole name of its parent company, CoreLogic late last year.</div>
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jchancellor-FAypfDUnLy

Lisa Claes to replace CoreLogic's Graham Mirabito

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The national shortage of housing in Australia is nearly 250,000 dwellings, lower than previously estimated, but still a long way from being in structural surplus, according to ANZ Research's latest Economic Insight.
The study forecasts that housing construction and underlying housing demand will see a modest unwinding of the current housing shortage in coming years. This easing will, however, challenge the short-term support to dwelling sales and price growth from the underlying supply-demand imbalance in some markets.
Underlying housing imbalances don’t tend to be important in explaining short-term changes in dwelling prices. A strong increase in the national underlying housing shortage, however, has provided fundamental support to dwelling prices over the past decade, it says.
Foreign investment in Australian housing has increased sharply in recent years, providing a boost to new housing construction. However, the net impact of foreign investment on the supply of housing, and the housing market balance, is difficult to quantify due to limited reliable information about the number of unoccupied foreign investor dwellings.
</div>
Housing construction booming; population growth slowing
Australian housing construction is booming but population growth has slowed, prompting speculation by some commentators that Australia’s housing market has, or will soon, have a surplus of housing. The market and media are flooded with views on the state of ‘balance’ in the Australian housing market. These views conclude that housing is either in surplus, balance or shortage depending on whether ‘the market’ refers to: the mortgage/sales market; annual population and housing construction flows; or long-term housing requirements and housing construction, in other words, what we estimate as the underlying housing market balance.
Analysis of demographics and housing construction shows that in the 20 years to 2005 Australia’s annual population growth fluctuated modestly around 218,000 people (1¼% y/y on average). Between 2006 and 2008, however, annual population growth increased sharply, to a peak of 460,000 people (2.2% y/y) in December 2008. This was largely because of very strong net overseas immigration. Over the past ten years, Australia’s population has increased, on average, by around 360,000 people per year (1.65% y/y).
Dwelling construction has struggled to keep up with Australia’s housing requirements (Figure 2). Only recently has housing construction broken away from a long-term cyclical reversion to annual housing completions of approximately 145,000 dwellings. This has reflected a surge in construction of high-rise apartments, particularly in Sydney, Melbourne and Brisbane.
<img src="/images/2016/03/23/Screen%20Shot%202016-03-23%20at%203.08.01%20PM.png" alt="" width="499" height="283">
Consequently, until recently almost a decade of underbuilding has driven a sharp run-up in Australia’s underlying housing shortage. Assuming that the housing market was in long-term cyclical balance – that is, the market wasn’t maintaining a long-term cyclical surplus for a 20-year period to 2005 – housing construction levels have only recently ‘caught up’ to annual housing construction requirements. That is, the surge in higher-density housing construction has driven housing construction levels to match annual underlying housing demand for the first time since 1995.
Based on our expectations of housing construction levels easing moderately from recent all-time highs in the coming years (from 220,000 dwelling starts in 2015 to 205,000 in 2016 and 198,000 in 2017) and slowing population growth (from 1.35% in 2015 to 1.30% in 2016), Australia’s underlying housing market balance should moderate in 2016 and 2017 (Figure 3).
<img src="/images/2016/03/23/Screen%20Shot%202016-03-23%20at%203.11.40%20PM.png" alt="" width="450" height="274">
 
What does the market balance mean for Australian House Prices?
An underlying shortage of housing has little explanatory power for short-term price growth, which is largely a reflection of: housing affordability (ie house prices compared to household income and mortgage rates); housing market sentiment; home buyer preferences; and housing market policy/regulation.
For example, the underlying shortage of housing in NSW continued to increase strongly through the recent periods of falling house prices in 2008-09 and 2011-12. However, an underlying housing market shortage (or existence of pent-up unsatisfied housing demand) does provide significant support to the long-term level of house prices, offsetting the downside risk to prices from short-term/cyclical factors (Figure 1). Looking ahead, markets with significant unsatisfied housing demand, particularly Sydney, have limited downside risks to prices absent unexpected shocks to household incomes.
That said, short-term/cyclical factors that drive house prices lower are likely to have more amplified and longer-term impacts in housing markets with weaker supply-demand balance fundamentals. That is, housing markets currently experiencing strong growth in new housing completions (ie inner-CBD Melbourne apartments, Western Sydney housing) and/or sharply weaker population growth (ie WA and Queensland mining regions) are likely to be more exposed to cyclical price falls than other markets.
In addition, house prices in markets that are considered more-or-less ‘in balance’, such as Adelaide, Hobart and Canberra, have much softer fundamental support and are more exposed to regional economic conditions.
What's changed: Why is the housing market shortage lower?
The Australian housing market has experienced some significant changes in recent years, including an increasing gap between home deposit and mortgage servicing affordability, stronger consumer preferences for higher-density dwellings and a strong appetite for housing as an investment asset.
How do these changes impact on our estimation of the housing market balance? The main assumptions that have been impacted by these changes are household formation rates and demolition rates – both of which have lowered our estimates of underlying demand for housing.
Household formation rates: to reflect subdued first home buyer activity and difficult home deposit affordability we have revised our historical and projected household formation rates lower (ie increasing the notional number of persons per household) 
Demolition rates: the issue of urban congestion, or concentrated population growth in the major capital cities, has increased housing demolition rates. This has been reflected by a strong increase in higher-density dwelling (apartment and townhouse) construction in inner-city locations in recent years. 
Foreign investors and Australia's housing market balance
Foreign investment in Australian housing has increased sharply in recent years, raising some concerns about the impact of foreign purchases on domestic housing market conditions. Most notably, these concerns have centred on the impact this has had on price growth. A lack of reliable and timely data1 on foreign investor purchases of
Australian housing makes it difficult to draw evidence-based conclusions on the net impact of recent activity on house prices, with most views based on anecdotal information.
However, assuming that the majority of foreign purchases are compliant with existing policy (ie. each purchase adds at least one new dwelling to the housing stock) it is fair to conclude that foreign investment has provided a boost to the supply of new housing and likely had little direct impact on underlying demand (depending on the motivation for the foreign investor purchase).
While the net impact of foreign investment is likely to provide limited direct support to demand for housing through household formation and population growth, it could add to underlying demand through a higher proportion of vacant or unoccupied dwellings. Similarly, there is little reliable data on this impact, with some data indicating a strong prevalence of ‘ghost towers’ and some apartment developers of the view that most foreign investors are tenanting apartment purchases for rental yield as well as capital security.
Consequently, we haven’t built any assumptions about the impact of growth in foreign investment to the proportion of vacant new dwelling completions. However, the 2016 ABS Census will be an important source of current information on the impact of foreign investment on underlying housing demand and Australia’s housing market balance.
Our overall view though is that foreign investment is likely to have eased underlying market balance pressure in the major capital cities.
 
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jonathanchancellor-7SQnKwU6yx

Is there still a housing shortage in Australia? ANZ Research says about 250,000 dwellings

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The ANZ today announced that Shayne Elliott will become its chief executive officer on 1 January 2016 succeeding Mike Smith.
Mr Elliott, 51, is currently ANZ’s chief financial officer, originally from New Zealand.
Mr Elliott has over 30 years’ experience in international banking including in Australia, New Zealand, Asia Pacific and the Middle East. He joined ANZ as CEO Institutional in June 2009.
Mr Smith will step down after eight years as chief executive officer and as a Director on 31 December 2015. 
ANZ Chairman David Gonski said Mr Smith had transformed ANZ into Australia’s only international bank with a focus on Asia Pacific.  
"He has transformed ANZ into one of Asia Pacific’s leading banks with operations in 34 countries, delivering strong outcomes for our customers and for our shareholders."
Mr Smith, who has an invaluable understanding of and connections in Asia, will be retained as a non-executive advisor to the Board, initially for one year. 
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Shayne Elliott to succeed Mike Smith at ANZ

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Further changes to banks' capital requirements could increase the cost for first time buyer customers.
ANZ deputy chief executive Graham Hodges says further changes could be required after a review by the international Basel Committee on Banking Supervision.
"Proposals currently under consideration by the international Basel committee could lead to further significant changes to bank capital requirements applying to housing," Mr Hodges told a federal parliamentary inquiry into home ownership last week.
"This could have the effect of increasing the cost of finance particularly for those customers borrowing at a higher loan-to-value ratios," Fairfax Media reported.
"Over time this will likely disadvantage those buyers namely some first home buyers with smaller housing deposits."
The Australian Prudential Regulation Authority's new capital requirements for the big four banks and also Macquarie Group will require them to hold billions of dollars in extra capital against their mortgage books from July 1 next year.
Last week's comments are the first made by the bank on the matter.
“The potential consequences of the Basel IV proposals need to be carefully considered,” ANZ advised in its submission to the Murray inquiry report, which recommended regulators increase capital requirements for the banks so they are unquestionably strong globally.   “In the residential mortgage market, for example, the proposals may encourage authorised deposit-taking institutions to implement much greater differential pricing between customer groups than currently occurs in the Australian market, to reflect the wider spectrum of capital requirements.   “This may include higher pricing to customers with higher loan to value ratios.”
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ANZ warns low deposit first time buyers face further borrowing costs from 2016

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The ANZ submission to the House of Representatives Inquiry into Home Ownership suggests that achieving balance between government and private sector "can assist with managing demand uncertainty and responding to changes in consumer needs". 
"State governments and local councils have been slow to release land in response to the surge in migration from 2004. Natural geographic constraints to expanding the city fringe complicate this process in cities such as Sydney. 
"Adding to this bottleneck, the process for converting rural land to new dwellings can take six or more years in some cities.
"For suburban and inner-urban redevelopments, planning approvals from State government and local council are frequently subject to lengthy delays and policy changes are commonplace. This makes developing inner city properties more expensive and drives apartment prices up."
In the financial institution's view, in order to achieve higher funding availability, lower funding costs and earlier funding of projects, consumers should carry more of the risk.
"At present, buyers in all States except Queensland can pay a 10% deposit for an off-the- plan purchase with the remaining 90% paid on practical completion. ANZ’s experience is that this deposit has proven to be an inadequate pre-estimate of the loss that a developer suffers if a buyer does not complete a contract. 
"When a buyer fails to complete the purchase, a seller is exposed to: 
<ul>
<li>  Loss on sale price if the market has fallen; </li>
<li>  Additional legal expenses associated with the resale; </li>
<li>  Holding costs (including interest on debt, greater levels of land tax and local council rates, and higher insurance premiums); </li>
<li>  Marketing and agent commissions; and </li>
<li>  Costs of enforcement against a defaulting buyer or in claiming a disputed deposit. </li>
</ul>
"Housing demand has been driven over the last decade by rapid population growth, largely resulting from immigration. The acceleration in population growth was most concentrated in Sydney and Melbourne and was not matched by increasing construction of new residential dwellings. Demand is also affected by general economic conditions, including interest rates and labor market conditions. 
"ANZ expects subdued economic conditions in coming years and a higher unemployment rate will impact consumer confidence and the financial capacity of households (ie household income growth), despite an extended period of low interest rates. 
"In recent years, investors have been increasingly attracted to residential property as an asset class due to solid long-term risk-adjusted returns (including low downside volatility), the low cost of borrowing, and solid underlying market fundamentals. Investor's lending now accounts for 50% of total housing finance, slightly higher than peak in 2003-04. 
"We estimate that ‘realised’ foreign investment added around AUD12-18 billion to dwelling investment in 2013-14, and contributed to the increased supply of housing available for rent. 
The top 40% income earners accounts for four-fifths of investor housing debt. The increase in years to save for a deposit contributes to the decline in home deposit affordability.
"An ageing population will depend less on income and more on financial wealth to support home ownership choices. Figure 1 shows the most recent data on households by dwelling type, from 2011. It reveals a strong bias towards detached housing, particularly amongst age groups over 35 years. Higher-density housing is more common among under 35s (37%) and over 65s (23%). 
<a href="/images/2015/08/05/Screen%20Shot%202015-08-05%20at%205.19.16%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/08/05/Screen%20Shot%202015-08-05%20at%205.19.16%20PM.png" alt="">
"ANZ supports the supervision and measures now in place to monitor risks to financial stability posed by housing.  
"In net terms and absent the policy changes and other recommendations made here, we expect increasing home prices, weak household income growth, stable interest rates and increasing underlying pressure on the existing housing stock will continue to reduce housing affordability across all measures in coming years."
 
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ANZ blames metro Sydney and Melbourne price rises on supply mismatch

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The Today show money correspondent Ross Greenwood advised the full 25% rate cut savings was worth $3.34 billion in potential stimulus – money back in the economy.
But not all banks are passing on the full cash rate cut.
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With some $1.33 trillion in home owner and investor home loans, <a href="https://www.9jumpin.com.au/show/today/videos/4207691939001/" target="_blank">Greenwood </a>calculated that on all banks passing the rate cut on in full.
However the Commonwealth Bank is only passing on part of Tuesday's cut in official rates to its home loan customers, but has interestingly also taken the step of raising some deposit interest rates.
The country's biggest bank has lowered its standard variable mortgage rates by 0.20 percentage points to 5.45%.
CBA's group executive for retail banking, Matt Comyn, said the bank had considered the needs of deposit customers as well as borrowers in its decision.
"Lifting the rates for our deposit customers at a time when the cash rate is decreasing recognises the importance of savings income, particularly for retirees and young people."
The CBA move comes after ANZ earlier said it would lower its standard variable home loan rate by 0.25 percentage points to 5.38%, effective Friday.
NAB has copied Commonwealth Bank's move to keep some of the Reserve Bank's 0.25 per cent cut to the cash rate. 
NAB will cut its standard variable rate to 5.43 per cent, with its lowest fixed rate at 4.49 per cent for one year and 4.59 per cent for five years. 
 
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Full rate cut was worth $3.34 billion in potential stimulus: Ross Greenwood

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The housing market, in at least Sydney, Melbourne and Darwin, has seen growth recently, and it's causing a knock-on effect, according to the ANZ Research team, with developer confidence now picking up.
However, they also said that it would be the mining states that record the most pronounced growth rate for gross state product in the coming years.
All non-mining states saw growth rates strengthen in the second half of 2013.
Cherelle Murphy, Dyslan Eades, Tony Morris and Zoe McHugh, from ANZ Research, recently provided a market analysis that pointed to five factors lifting the growth rates and outlooks in all states and territories.
THE FIVE FACTORS
<ol>
<li>Improved global economic conditions 
</li>
<li>Low interest rates 
</li>
<li>The lower Australian dollar 
</li>
<li>Better business confidence 
</li>
<li>Better consumer confidence</li>
</ol>
"The mining states, which are on the cusp of an export expansion, will continue to record the strongest growth rates over the coming years in our view. But the non-mining states are expected to improve most compared to the growth rates recorded over the past few years," they recorded.
Interestingly, they also noted that the convergence in growth rates between the states is as expected.
"The mining states are coming off very strong economic performances as the resources construction pipeline dries up, while the non-mining states are steadily firming."
MINING STATES
Queensland: Major LNG projects still under construction, recording high activity levels.
Western Australia: More advanced through resources contruction work, seeing a more rapid slowdown.
Northern Territory: The exception, seeing a boost from INPEX Ichthys LNG Project.
NON-MINING STATES
New South Wales: The best performer, with trend unemployment falling to 10 month low (5.5%) in March. Business conditions have picked up.
Victoria, Tasmania: Sluggish but recently improving outlooks. More exposed to manufacturing, which continues to shrink. Business conditions have picked up.
South Australia: Sluggish but recently improving outlooks. More exposed to manufacturing, which continues to shrink.
Australian Capital Territory: Sturdy, but "will shortly bear the brunt of the not yet wholly known Commonwealth fiscal tightening."
All states, they noted, saw a sharp pick-up in housing market activity "related in part to the expansionary setting of monetary policy," they noted.
<blockquote>
FIVE FACTORS LIFTING GROWTH RATES
IMPROVED GLOBAL ECONOMIC CONDITIONS
LOW INTEREST RATES
THE LOWER AUSTRALIAN DOLLAR
BETTER BUSINESS CONFIDENCE
BETTER CONSUMER CONFIDENCE
</blockquote>
"Prices have bounced off their lows and have risen especially sharply in Sydney, Melbourne, and Darwin. This has translated to an improvement in developer confidence, with residential building approvals rising strongly, implying dwelling investment is likely to contribute solidly to growth going forward," they said.
Among all the non-mining dominated states and territories, the non-mining business investment is not forecasted to see any notable improvement until next year.
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