ANZ believes the Reserve Bank is in no rush to move again.

Following the release of the May Monetary Policy Board Minutes, ANZ has taken the view that the RBA is now firmly in a holding pattern, with the cumulative impact of previous rate hikes giving the Board scope to assess how the economy evolves from here.

That positioning, in ANZ’s view, makes a June rate hike unlikely.

The bank continues to expect the cash rate to remain unchanged at 4.35 per cent for an extended period, with the RBA adopting what is effectively a wait-and-see approach.

The Minutes point to a Board that sees financial conditions as already restrictive, but without a clear read on just how restrictive they are. That uncertainty has shifted the focus away from immediate policy action and toward monitoring both domestic conditions and global developments, particularly the conflict in the Middle East.

As ANZ interprets it, the Board is deliberately avoiding strong forward guidance.

Instead, it is allowing itself flexibility, acknowledging that monetary policy has limited ability to influence the near-term trajectory of inflation, while also recognising that economic growth is likely to remain below potential for some time.

Despite that pause in momentum, ANZ notes that the Board still carries a tightening bias.

The Minutes reveal that, in weighing up its decision, the Board seriously considered another 25 basis point increase. The key debate centred on the trade-off between inflation and activity, particularly in the context of global uncertainty.

Ultimately, most members leaned toward the inflation side of that equation.

Underlying inflation is still expected to remain above target for an extended period, regardless of how external risks evolve. That has led to a view within the Board that the risks to its inflation objective have increased, and that the current cash rate may not be sufficiently restrictive to fully contain those pressures.

That’s important.

While the decision, for now, is to hold, the underlying tone of the Minutes suggests the door to further tightening has not been closed.

ANZ also points to commentary from Assistant Governor (Economic) Sarah Hunter, who highlighted the risk that inflation could pass through the economy more quickly and broadly than in previous cycles. Both Hunter and a majority of the Board expressed concern that inflation expectations could become less anchored after such a prolonged period above target.

That combination, persistent inflation and the risk of expectations shifting, is what continues to underpin the RBA’s cautious stance.

However, where ANZ diverges from the RBA is on the outlook for activity.

The Board appears relatively comfortable with current spending patterns, effectively downplaying recent declines in business and consumer sentiment. It notes that sentiment has historically been only weakly correlated with actual spending, and that feedback from its liaison program has not yet pointed to a meaningful slowdown in consumption.

ANZ is less convinced.

The bank believes the link between household disposable income, sentiment and spending is more direct than the RBA is currently acknowledging. With inflation continuing to erode real incomes, ANZ expects household spending to soften more materially than the central bank is forecasting.

That divergence matters because it shifts the balance of risk.

If activity weakens more than expected, the trade-off between inflation and growth changes. In ANZ’s view, that would reduce the need for further tightening and reinforce the case for the RBA to remain on hold.

It also suggests that the current policy setting may already be doing more work than the Board fully appreciates.

The broader takeaway from ANZ’s interpretation is that the RBA is walking a narrow path.

On one side sits the risk of inflation remaining elevated for longer than expected. On the other is the growing pressure on households and the potential for a sharper slowdown in activity.

For now, the Board is choosing to wait.

But it is a pause that still carries an underlying tightening bias, rather than a clear pivot toward easing.

In practical terms, that leaves the cash rate anchored at 4.35 per cent for the foreseeable future, with the next move still uncertain.

For borrowers, it reinforces the reality that relief is not imminent.

And for the broader economy, it highlights the delicate balance the RBA is trying to strike, between bringing inflation back to target and avoiding an unnecessarily sharp slowdown in growth.

According to ANZ, it is a balance that is becoming increasingly difficult to maintain.

Joel Robinson

RBA to hold rates for "prolonged period" rather than hikes: ANZ

<a href="https://www.apartments.com.au/developers/venturecrowd-property-projects">VentureCrowd</a> is down to the final Canopy Villa release at Cumulus Grand Villas in Carrara, as construction continues on the 59-residence gated community positioned above 100 hectares of natural savanna on the Gold Coast.

The remaining Canopy Villa forms part of one of four collections within the <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>-designed community and has attracted interest from buyers seeking larger-format homes that combine privacy, security and low-maintenance living. Positioned within a private cul-de-sac and facing a protected black she oak forest, the four-bedroom villa includes a large private outdoor area suited to pet owners and families wanting more flexible space.

<a href="https://www.apartments.com.au/new-townhouses/cumulus-grand-villas-carrara-17-baltimore-court-carrara-qld-4211">Cumulus Grand Villas</a>, located at 17 Baltimore Court, comprises a mix of three and four-bedroom villas across the Skyline, Canopy, Savanna and Broadview collections. Prices currently range from $1.455 million to $1.895 million, with the final Canopy Villa priced from $1.825 million.

[smartcode_project:default project_id=135663 project_image_fid=360477]

The Canopy Collection villas offer four bedrooms, 2.5 bathrooms and approximately 245 sqm of internal space, alongside double garages and landscaped private areas. Expansive glazing, open-plan living spaces and private balconies have been designed to maximise natural light and outlooks toward the surrounding savanna landscape.

Construction is now underway across the fully funded development, which VentureCrowd says has become an increasingly important consideration for buyers assessing off-the-plan opportunities on the Gold Coast. The project is being delivered by <a href="https://www.apartments.com.au/builders/devcon">Devcon Property Group</a>, which has operated in South East Queensland since 1993 and delivered more than 1,000 homes across the region.

VentureCrowd Director of Property David Whitting previously said the project responds to changing buyer priorities in the prestige Gold Coast market.

“Flexible floorplans have proven particularly relevant for purchasers aged between 40 and 65, including next home buyers, downsizers and investors,” Whitting said.

[smartcode_project:default project_id=135663 project_image_fid=360505]

The buyer profile at Cumulus has reflected that shift toward owner-occupier-driven demand. Stuart Towns and Tracey Loynes recently purchased a Canopy Villa, drawn to both the lifestyle offering and the flexibility the home provided for their next stage of living together.

The couple, who met three years ago, sold their Robina home earlier this year after identifying what they saw as strong long-term investment potential at Cumulus while remaining within the same Gold Coast market. The villa’s private backyard was a major drawcard for their dog Luna, while proximity to golf courses including Emerald Lakes also aligned with their lifestyle interests.

Beyond the residences themselves, the community has been planned around shared lifestyle and recreation amenities. The Infinity Terrace will include a 20-metre heated pool, barbecue facilities, alfresco dining spaces and elevated retreat areas overlooking the surrounding landscape. Walking trails, a private nature reserve, orchard and herb garden are also integrated into the masterplan.

[smartcode_project:default project_id=135663 project_image_fid=360473]

BDA Architecture Director Darren Greenaway said the design approach was heavily influenced by the site’s outlook and secluded setting.

The practice sought to create what Greenaway described as a “little piece of paradise,” drawing inspiration from the elevated views, surrounding greenery and quiet location.

<a href="https://www.apartments.com.au/developments/carrara-qld-4211">Carrara</a> continues to attract buyers seeking larger homes within proximity to the coast but without direct beachfront pricing. Cumulus sits within easy reach of Broadbeach, Pacific Fair, Robina Town Centre and the M1, providing connections north to Brisbane and south toward the Gold Coast Airport and northern New South Wales.

The first stage of Cumulus Grand Villas is targeting completion in 2026.

[smartcode_project_cta:default project_id=135663]

VentureCrowd nears sell-out of Canopy Collection at Cumulus Grand Villas in Carrara

Waverley Council has made a call that many councils have been reluctant to make publicly. Growth is coming, regardless of who controls it.

The release of the Bondi Junction Vision and Master Plan is less about whether the Eastern Suburbs’ primary centre will change, and more about how that change is shaped, funded, and ultimately experienced on the ground. Waverley Council has released a 100-page plan which is effectively the first comprehensive blueprint for Bondi Junction in over two decades, and in doing so, signals a clear shift in how councils are positioning themselves in the current planning environment.

For the past 18 months, the conversation across New South Wales has been dominated by the State Government’s Low and Mid-Rise Housing reforms and the emergence of the Housing Delivery Authority pathway. Both have created faster, more centralised avenues for development approvals, particularly in well-located, infrastructure-rich areas like Bondi Junction.

Waverley Council’s response has been to move early, and decisively.

Rather than react to individual proposals as they come through the HDA or broader State-led reforms, Council has sought to establish a clear, place-based framework that sets the terms for how Bondi Junction evolves. The underlying position is relatively straightforward: if densification is inevitable, it should be tied to infrastructure, public domain improvements, and a cohesive vision for the centre, not delivered piecemeal through ad hoc applications.

<img alt="bondi junction" data-entity-type="file" data-entity-uuid="7f1f729c-ed99-4c6c-bf87-ffbce6991941" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-19%20at%209.58.16%E2%80%AFAM.png?VersionId=ULX4OlXKjeJ5BvNCNGL86evgXCjCfMih" />

At its core, the document is attempting to reposition Bondi Junction from what it largely functions as today, a transport interchange anchored by a major retail centre, into something far more layered. The ambition is to transform it into what the plan describes as the “civic and cultural heart of Sydney’s East,” a place that is active beyond commuting hours and capable of supporting a broader mix of uses, experiences and communities.

That repositioning is built around four key ambitions.

The first is to create a true destination. Bondi Junction already attracts significant foot traffic, with more than 86,000 daily transport users and millions of annual retail visits, but much of that activity is transient. People pass through, rather than stay.

The Master Plan seeks to change that dynamic. It leans heavily into the idea of an “18-hour economy,” extending activity well beyond traditional retail hours through dining, cultural programming, events, and a more active night-time offering. This is not just about adding more hospitality venues, but about fundamentally shifting how the centre operates, from a daytime shopping destination to a place that functions across the full span of the day and into the evening.

Oxford Street Mall sits at the centre of that shift.

Long seen as underperforming relative to its potential, the Mall is identified as one of the key catalyst projects in the plan. It is to be reimagined as a day-to-night spine, combining retail, dining, wellness and cultural uses in a way that creates a continuous flow of activity. Outdoor dining, rooftop venues, laneway activation and a curated events program are all part of the strategy, alongside significant public domain upgrades that aim to improve comfort, safety and usability.

&nbsp;

The second ambition is to transform Bondi Junction into a world-class interchange.

Despite being one of the most heavily used transport nodes in Sydney, the current experience is fragmented. Connections between the station, Westfield, Oxford Street Mall and surrounding streets are often unclear, and major roads create physical barriers that disrupt pedestrian movement.

The Master Plan proposes a more seamless, people-focused network. That includes clearer pedestrian links, improved wayfinding, better integration between transport modes, and a rethinking of how arrival into the centre is experienced. The aim is to shift the perception of Bondi Junction from a place people move through, to a place they arrive in.

The third ambition focuses on greening and open space.

One of the more consistent pieces of community feedback throughout the Vision phase was the need for more greenery, better public spaces, and a more comfortable urban environment. Despite being surrounded by major parks, Bondi Junction itself has relatively limited accessible open space, with much of the public realm dominated by hard surfaces and traffic infrastructure.

The plan responds with a network of new and upgraded public spaces, increased tree canopy, and what it terms the “Parkline,” a green link connecting Waverley Park through to Centennial Park. This is not just about aesthetics. It is about addressing heat, improving liveability, and ensuring that increased density is matched by access to high-quality outdoor space.

The fourth ambition is perhaps the most important from a development perspective: growth that gives back.

Bondi Junction is already the primary location for new housing supply in the Waverley LGA, and that is expected to continue. The area carries a target of 2,400 new dwellings by 2029, with further growth projected beyond that as demand for well-located housing continues to rise. The Master Plan does not seek to limit that growth. Instead, it attempts to shape it.

New housing is to be concentrated around transport, with stepped building heights designed to protect the character of surrounding neighbourhoods. At the same time, the plan introduces a more explicit link between development uplift and public benefit. This is where value capture becomes central.

The document outlines a framework where increased development potential is tied to contributions that fund public domain improvements, community infrastructure, open space, and affordable housing. It is an approach that recognises that much of the transformation of Bondi Junction will be delivered by the private sector, but seeks to ensure that the benefits of that growth are shared more broadly. The Civic Precinct is a key part of that equation.

Leveraging Council-owned land, the plan proposes a consolidated civic and cultural hub centred around Ebley Street. This would include new community facilities, cultural spaces, and potentially a new Council Chambers, creating a focal point for civic life that currently does not exist in Bondi Junction at scale.

It is one of several catalyst projects identified in the Master Plan, alongside the Oxford Street Mall transformation. These projects are intended to anchor change, acting as early interventions that unlock broader investment across the precinct.

Importantly, the Master Plan is not just a design document. It includes a delivery framework that sets out how these ambitions are intended to be realised.

Council is explicit in acknowledging that it cannot deliver the transformation alone. Implementation will require coordination between State agencies, private developers, landowners and the community, with a mix of planning agreements, infrastructure contributions and direct delivery mechanisms used to fund and stage improvements over time.

The plan outlines a mix of short-term, medium-term and long-term actions, from immediate public domain upgrades and planning controls, through to larger-scale projects that will unfold over the next decade or more. In practical terms, the next 12 to 24 months will be the most important.

This is when the Master Plan will move through exhibition, refinement and eventual adoption. It is also the period in which Council will seek to embed the framework into its planning controls, giving it weight in the assessment of future development applications.

Council officers have indicated that once the Master Plan is in place, it could be used as a benchmark when assessing Housing Delivery Authority proposals, and potentially reduce the need for further HDA declarations within Bondi Junction. In effect, it is an attempt to bring planning control back to the local level, while still aligning with State housing targets.

That tension between State-led reform and local planning control is not unique to Waverley. It is playing out across Sydney.

&nbsp;

&nbsp;

&nbsp;

If delivered as intended, Bondi Junction will become denser, more active, and more complex. It will support more residents, more workers, and a wider range of uses, extending beyond its current retail core into a more layered urban environment.

“The civic and cultural heart of Sydney’s East”: Bondi Junction masterplan revealed

Toorak's dress circle St Georges Road, home to some of the city's priciest homes, is set for a rare new apartment development.

Blood Diamond Group, an entity tied to Tina Brandi, wife of David Brandi who has been a prolific bidder on The Block over the years, has filed plans for an ultra-exclusive development across an amalgamated 3,662 sqm site at <a href="https://www.apartments.com.au/new-apartments/104-106-st-georges-road-toorak-vic-3142">104 and 106 St Georges Road</a>.

The proposal would replace two existing homes on the riverfront site with a five-level apartment building cascading down the steeply sloping land toward the Yarra River. Designed by Charles Wright Architects, the development has been carefully shaped around the site’s topography and river environs, with the upper levels stepping back to reduce visual bulk from both St Georges Road and the Yarra corridor.

Planning documents describe the proposal as “a site layout and building typology that is consistent with the emerging character of the area and which provides exceptional amenity for future residents without compromising that of neighbouring properties.”&nbsp;

<img alt="First look: Blood Diamond Group unveils riverfront apartment plans for Toorak Pavilion" data-entity-type="file" data-entity-uuid="ea19a17e-7528-4fa8-b727-05f2f7c025e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Toorak%20pavilion%20a_0.png?VersionId=rZ2IjdoUL_UrRl1sZ4wZHnQXbYUaEmUQ" />

The scheme comprises 12 apartments, including 10 three-bedroom residences, one one-bedroom apartment, and a substantial split-level five-bedroom penthouse. A 624 sqm communal rooftop terrace will crown the building, while three undercroft levels embedded into the hillside will accommodate apartments and basement parking.

The design leverages the site’s dramatic northern outlook across the Yarra River, with living areas and balconies oriented toward the water. A central atrium running the full height of the building is intended to draw natural light deep into the residences and improve internal amenity.

Landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/jack-merlo">Jack Merlo Design &amp; Landscape</a> will play a major role in softening the built form, particularly along the river edge where significant setbacks have been introduced. The proposal includes a minimum 30-metre setback from the Yarra River boundary, preserving a substantial landscaped buffer between the development and the waterway.

While a mature English Oak near the front of the site is proposed for removal, the plans retain a large English Elm closer to the riverfront, alongside other established vegetation in the lower section of the property.

<img alt="First look: Blood Diamond Group unveils riverfront apartment plans for Toorak Pavilion" data-entity-type="file" data-entity-uuid="ed3bf19b-5bc7-482f-bde7-41f709a13c3a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Toorak%20pavilion%20b.png?VersionId=SG_kBGu4rOaSPY8FtVcmPJfSCrstuOfg" />

Architecturally, the building adopts strong horizontal forms with expansive glazing and curved balcony edges facing the river. Planning documents note the upper levels “adopt a receding form” to ensure the building responds appropriately to the Yarra River environs overlay controls.&nbsp;

The surrounding streetscape is characterised by large contemporary homes embedded into the hillside, many presenting as modest one or two-storey forms to the street before expanding toward the river frontage below. The planning report notes this established pattern heavily influenced the massing strategy for Toorak Pavilion.&nbsp;

Until the recent sale of the landmark Clendon Road mansion Coonac for around $130 million, St Georges Road held the state's most expensive home, the $80,000,088 derelict "Ghost House" mansion that was bought by crypto king Ed Craven.&nbsp;

Blair House, also on St Georges Road, sold for $74.5 million in 2022.

First look: Toorak Pavilions slated for dress circle St Georges Road

Six months after a development site on Kangaroo Point’s Shafston Avenue sold for $6.55 million, plans have been lodged for a 23-storey apartment tower.

A company named JMT Mega Capital, understood to be interstate investors when the 1,222 sqm double block traded late last year through Patona Property, is proposing an 84-apartment development in place of the existing low-rise buildings.

The slender tower at <a href="https://www.apartments.com.au/new-apartments/212-220-shafston-avenue-east-brisbane-qld-4169">212–220 Shafston Avenue</a>, overlooking the Brisbane River, has been designed by <a href="https://www.apartments.com.au/architects/aplus-design-group">Aplus Design Group</a>. It will comprise a mix of one-, two- and three-bedroom apartments above six basement levels, topped by rooftop resident amenities.

<img alt="First look: 23-storey Kangaroo Point tower planned for Shafston Avenue riverfront precinct" data-entity-type="file" data-entity-uuid="7e17ba9e-553e-42ef-92b6-22081671521a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium_3.png?VersionId=hlVUf99vrOjUs.vhQs0qV0DhOncUy9T8" />

The development has been designed as a vertically articulated tower with recessed balconies, curved façades and planted edges intended to soften its scale within the evolving Shafston Avenue skyline. In the submitted Urban Design Report, Aplus Design Group said the tower had been “shaped with a slender vertical expression, articulated façades, recessed balcony zones, integrated planting and a clearly defined podium relationship, helping to reduce perceived bulk and create a more elegant contribution to the Shafston Avenue streetscape and broader Kangaroo Point skyline.”

The scheme comprises 84 apartments, including 25 one-bedroom units, 34 two-bedroom apartments and 25 three-bedroom residences. A total of 104 car spaces are proposed across six basement levels, including resident, visitor and accessible parking.

Residents will have access to rooftop communal open space and shared amenities, while the development also incorporates deep planting zones and subtropical landscaping throughout the podium and tower levels. The project includes 35 per cent communal space coverage across the site and a 17.5 per cent deep soil zone allocation to support urban greening outcomes.

The application exceeds the mapped building height under the Kangaroo Point Peninsula Neighbourhood Plan and is being assessed under Brisbane City Council’s impact assessment pathway. The design team argues the additional height is supported by the site’s strategic inner-city location, existing high-density zoning, and proximity to transport and employment hubs.

“The design has been developed to make better use of a well-serviced urban site within an established high-density residential setting, while improving the street presentation and overall quality of the public realm interface,” the report states.

<img alt="First look: 23-storey Kangaroo Point tower planned for Shafston Avenue riverfront precinct" data-entity-type="file" data-entity-uuid="1ab44b1e-ff45-4bf3-8da8-8aa0cd79db33" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_10.png?VersionId=tSxeGekZOqj1e9g3PEn_yFoC3taKDp3U" />

The proposal adds to a growing pipeline of apartment developments reshaping Kangaroo Point ahead of the 2032 Brisbane Olympic Games, with demand continuing to strengthen for new housing supply in well-connected inner-city precincts.

Mosaic has nearly sold out its under-construction <a href="https://www.apartments.com.au/new-apartments/the-bedford-by-mosaic-16-30-prospect-street-kangaroo-point-qld-4169">The Bedford by Mosaic</a>&nbsp;and <a href="https://www.apartments.com.au/new-apartments/the-carter-by-mosaic-77-linton-street-kangaroo-point-qld-4169">The Carter</a>,&nbsp;while Pikos recently completed <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye Residences</a> nearby. Pikos is also delivering <a href="https://www.apartments.com.au/new-apartments/gaia-kangaroo-point-108-lambert-street-kangaroo-point-qld-4169">Gaia</a>, over 230 three- and four-bedroom apartments on Lambert Street.

First look: 23-storey Kangaroo Point apartment tower planned for Shafston Avenue riverfront precinct

Asx Update

<html><body>REA Group has announced its proposal to acquire the Mortgage Choice business.

REA announced a scheme implementation agreement to buy the ASX-listed Mortgage Choice for $244 million, or $1.95 a share, representing a 66 per cent premium to Mortgage Choice’s last close.

Their acquisition will accelerate REA’s financial services strategy to create a leading mortgage broking business in addition to its real estate listings website.

“The proposed acquisition of Mortgage Choice is an exciting development that will bring together our well established Smartline business and franchisee network with the complementary Mortgage Choice organisation and its significant broker footprint," REA Group CEO, Owen Wilson said.

The transaction is still subject to conditions being met, including Mortgage Choice shareholder and regulatory approvals.

It is expected to take approximately three months to complete.

Mortgage Choice has a $54 billion loanbook.

The network has more than 500 brokers across 380 franchises.

Its biggest shareholder is the Commonwealth Bank of Australia with an 18.5% stake.

Domain has its Loan Finder, a joint venture between Domain Holdings Australia Limited and Auscred Limited, the parent entity of mortgage platform Lendi.</body></html>

REA Group has announced its proposal to acquire the Mortgage Choice business

jchancellor

REA Group seeks to acquire the Mortgage Choice business

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The ASX-listed real estate agency McGrath have announced they have returned to net profitability, with new chief executive Eddie Law citing a relatively strong residential real estate market over the past four months.
"It appears consumers are re-assessing their home needs and aspirations in a post-COVID world," Law, who was speaking at his first AGM having taken the top job in August, said.
"Both transaction volumes and average selling prices across our network have exceed the prior year in each of the first four months of FY21."
McGrath's FY20 saw an underlying EBITDA of $3.7 million, a $10.1 million turnaround from FY19 which has seen them return to net profitability.
"We ended 30 June with a strong balance sheet with zero debt and a $17.3 million cash balance, an increase of $7 million from 30 June 2019," Law added.
McGrath are forecasting underlying EBITDA to be in a range of $6 million to $6.5 million for the first half of FY21.
Law however was cautious amid the optimism of the general improved outlook, saying there is still undercertainty in the first half of 2021.
"With the scheduled end of the JobKeeper and deferred mortgage programs still yet to be determined, along with other macro factors impacting consumer confidence, there is still material uncertainty as to whether the momentum evidenced in the first half of FY21 will be maintained in the second half results."
McGrath shares were up over eight per cent on the positive news to 46c a share.
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jrobinson-rf4aSBido9

McGrath return to net profitability, reinstate dividend

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Embattled property valuation group Landmark White made its long-awaited return to the ASX, with its shares trading at 9 cents.
Its return follows being hit with <a href="/news/landmark-white-limited-reports-property-valuations-data-breach">two cyber-attacks earlier this year</a> when confidential home loan information was <a href="/news/landmark-white-shares-fall-10-percent-after-dark-web-data-revelation">posted illegally on the web</a>.
Yesterday the group's share price was down around 50 per cent to $0.09 per share from its prior trade. They've been trading at $0.10 over the morning session.
LandMark White shares previously traded at 18¢, before the company requested a trading halt on July 6 following its second privacy security breach.
The company had recently undertaken a <a href="/news/landmark-white-seek-to-rebuild-value-for-shareholders">$5.4 million capital raising</a> last month at 8¢.
The shares were trading at 34 cents at the beginning of 2019 and at 44 cents a year ago.
Acting chief executive Tim Rabbitt, who will stay for the foreseeable future, admits it had been often harrowing over the past seven months.
Landmark White forecasts it will reduce its annual loss from $15.1 million to $1.5 million. They said the data breach will <a href="/news/landmark-white-data-breach-to-cost-over-7-million">cost the company up to $7 million</a>.
The group, which values home loan applications for banks and independent lenders, was initially hit with a data security breach in late January, which led it to be suspended from the panels of the four major banks and smaller lenders.
LandMark White returned to trade on the ASX in May, but was hit again with further confidential information posted on the web.
It is not believed that the NSW Police has charged anyone.
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j.ballantyne1990-6AQqhLzZaK

Landmark White shares fall to 9 cents on return to ASX

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The national ASX listed real estate agency The Agency is seeking a fresh injection of cash.
Shares in the debt-laden group went into a trading halt on Monday, pending an announcement about a capital raising.
It is expected on Wednesday.
The shares have lost two-thirds of its value since February when it was trading at 22 cents. Now they're at seven cents
Nine Entertainment reports "concerns about its financial viability."
The Australian Financial Review called it a "capital funding lifeline."
There was a capital raising last November.
The group continue to expand its operations however.
The Agency now operates in Perth, Sydney, Melbourne, the Gold Coast, Newcastle and Illawarra after sizeable expansions.
They <a href="/news/cameron-mckillop-merges-with-the-agency-in-the-southern-highlands">recently partnered</a> with Southern Highlands veteran agent Cameron McKillop and his team at McKillop Property. 
The Agency Group's June quarter update saw 674 exchanges, their highest on record.
In March this year The Agency reported it expects its core business units to be profitable within the next 12 months.
Shares <a href="/news/andrew-jensen-appointed-interim-chairman-of-the-agency">fell 15 percent in February</a> around the time Philip Re tendered his resignation as chairman. He was replaced with interim chairman Andrew Jensen, The Agency's former chief financial officer.
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The Agency seeks fresh injection of cash

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There has been another delay in The Agency's acquisition of the McGrath rebel's led Top Level Real Estate.
This one saw The Agency request a voluntary suspension from today, Tuesday until Thursday to coincide with the commencement of trading.
"The company makes the request pending an announcement by the company regarding the settlement of the acquisition of Top Level Real Estate Pty Ltd," the request stated.
A trading halt has been in place since last week.
Shares have been held at ¢14.
There is no indication as to the reason for the move from a trading halt to suspension.
 
 
 
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Yet another delay as The Agency seeks Top Level Real Estate

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The ASX has sought an update from The Agency after their shares fell to a record low after unusual share trading activity on the stock exchange.
In back to back days there have been two million plus shares traded each day. The average volume has recently been 500,000.
Shares fell to a record $0.007 low yesterday but bounced back this morning to $0.008. They were trading at $0.009 when they opened on Thursday morning.
Trading has continued to be unusually high, and The Agency's company secretary Stuart Usher responded that they had no information or reason for the spike in activity and there were no pending announcements that the ASX should be aware of.
"I confirm that I have delegated authority of the board to respond to ASX on disclosure matters and that the responses have been approved by the managing director," the response read.
The sharemarket awaits The Agency update on its success in financing its acquisition of the McGrath rebels outfit, Top Level. 
 
 
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The Agency shares hit record low as ASX seek update

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The option held by Paul Nairdone's publicly listed Perth based estate agency to acquire the east coast Top Level estate agency has been extended yet again.
The managing director of The Agency says it remains "totally committed" to acquiring Top Level, though its plans to secure the burgeoning Bondi Beach based outfit appear hopeful with shares dropping to a record low in today's trade.
The elusive option was taken in January last year, as it envisaged having an combined estate agent of 600 sales representatives nationally.
But it told shareholders this week the agreement to buy the east coast business had been extended by another four months.
Top Level Real Estate, which trades as The Agency under a licence agreement, is run by high commission, ex-McGrath rebels led by Matt Lahood.
The sharemarket was told Agency Group Australia had "entered into an extension to the amended and restated binding option agreement."
It noted a "deed of variation has been entered into by Ausnet Real Estate Services and Top Level’s majority shareholders under which all parties have agreed the option agreement be extended for the period of four months from 11th June 2018 until on or before 5pm AEST on 11th October 2018."
Under the terms of the deed, the completion of a raising of no less than $10 million (a condition precedent under the option agreement) has been extended until 5pm AEST on 11th August 2018 or at a later date agreed to by all parties.
Its recent hopeful plans for a $10 million equity raising at 2¢ a share failed to get anywhere after The Agency parted ways with its Perth underwriter, CPS Capital Group, in April.
No replacement underwriter has since been announced.
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<div class="cq-article-content-media section">"We're totally committed to getting this deal done," The Agency managing director Paul Niardone told The Australian Financial Review.</div>
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<div class="related-quotes section">"There's quite a bit we need to do. It's not just about the raising but about merging two organisations and how that will take place. We don't want to be pushed to a timeframe."</div>
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Shares in The Agency have fallen to 1¢ in morning trade.
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Its WA-based business generated total revenue of $13.5 million in the year to May with the east coast Top Level network bringing in $16.1 million. Its latest sharemarket advisory claims The Agency Group is "achieving its stated goal of being the fastest growing real estate brand nationally."
Their recent WA acquisition Sell Lease Property (SLP), acquired in March 2018, saw 115 properties settled and 324 listings for the two months to May 2018.
In May 2018, The Agency and Sell Lease Property combined ranked fifth in Western Australia for $ value and fourth in number of sale.
It has advised the company is closing in on claiming number one ranking in WA for number and value of sales when compared with the top groups in the state.
The Agency Group Australia, formerly Ausnet Financial ServicesLimited, has also announced it has acquired Inglewood Estate Agency, further expanding its reach in the Western Australian market.
The transaction adds 80 property managements to The Agency.
Inglewood Estate Agency principal Mark Jewell will join The Agency Group team, with over 30 years’ experience selling properties.
Established in 1960, Inglewood Real Estate is a longstanding family business. The purchase price of $436,180 will be paid in three payments over two year, the first instalment representing 80% of the total purchase consideration which was paid at settlement.
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(Agency East Coast from April 1, 2017)
But it has recently borrowed $1.1 million in short-term funding (at annualised interest rate of 18 per cent) as working capital.
Niardone said the commercial loan, to be repaid in three months, would tide it over until the Top Level deal was sealed. 
The $1.1 million is being lent by a private lender, with Niardone declining to reveal the lender’s identity to The Australian.
The Agency real estate sales posted gross commission income of $7.55 million while SLP posted $1.5 million (March – May), totaling $9 million of commission income for YTD May 2018.
The Agency Property Management reported monthly income of $116,000 for May and added 96 new property managements.
Mortgage and Financial Solutions Australia posted a record month of $20 million in loan lodgments while the loan book grew 9.5% against a drop of 18% in the overall Western Australian lending market.
Commenting on the results, The Agency Managing Director Paul Niardone said these were "exceptional results" for its Western Australian operations, especially when considering the market is still down 1.8% in dwelling values to May 2018 and sales turnover, for the same period as last year, was down 5%.
"The numbers also demonstrate that the referral of clients into other business units is working.
"The results illustrate we have a proven model that is disrupting the traditional franchise model by giving power back to the real estate agent and providing a significant value proposition to agents.
"The traditional model has had its time and The Agency has proven this by showing that, combined with Sell Lease Property, we are knocking on the door of claiming number one ranking in WA for number and value of sales."
The group reported recently it had $1.1 million in cash at the end of the March quarter.
It forecast outflows of $4.9 million in the June quarter. Its March quarterly revenue was $4.2 million
The sharemarket values the company at $8 million.
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The Company is backed by Finsure Group, one of Australia's fastest growing retail finance brokerages writing over $1 billion in new mortgages every month across 850 brokers.
Ausnet Financial Services Limited, as The Agency Group was then known, advised the sharemarket in early 2017 that its east coast expansion involved as=n option agreement with Aura Principal Investments Pty Ltd (ACN 145 010 653), Top Level Holdings Pty Ltd (ACN 617 021 167) and Daring Investments Pty Ltd (ACN 059 818 807) to acquire 100% of the fully paid ordinary shares in the capital of Top Level Real Estate Pty Ltd.
Ausnet director John Kolenda holds an interest in Top Level via his 50% shareholding in (and directorship of) one of the vendors, Daring Investments Pty Ltd.
 
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jchancellor-FAypfDUnLy

The Agency again delays Top Level acquisition deal

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The chief executive of online real estate advertising company Domain has suddenly quit just two months after it listed separately on the share market. 
Domain was spun off from Fairfax Media and commenced trading on the ASX last November.
He has worked for Fairfax and Domain on and off for 26 years.
The company's chairman Nick Falloon is stepping in as executive chairman, as a search for a new CEO immediately commences.
Falloon said Catalano had informed the board over the Christmas break that the demands of his role and his absence from the lives of his family were more challenging than he had expected.
"It's not fair on the family," he said adding that he was grateful for the opportunities at Domain.
In a statement, the Melbourne-based father of eight who owns property in St Kilda West, Caulfield North and Byron Bay, advised family reasons for the exit. 
"When I re-joined Fairfax in November 2013, I made a commitment to my young family that I could be there for them and do the job," he said in a statement.
"It has become clear to me that doing the job of a listed company CEO the way it needs to be done means that I am not meeting that family commitment."
"It was also become apparent that I needed to relocate to Sydney and that was something I wouldn’t ask my family to do because schooling and family requirements would see young family members living in different cities.
"As it stands, I have been away from home for the bulk of each week and it’s not fair on the family.”
He noted the timing of the resignation, but said he was confident Domain’s team could keep the company on its current trajectory.
“I understand and regret that the timing of this decision is unusually short from Domain’s listing. But having been in the role for four years, I resign knowing that Domain has a great management team in place and I have every confidence in them and the business continuing on its current stunning trajectory.
In a statement to shocked staff, Fairfax chief executive Greg Hywood advised that it was "business as usual for Domain".
At 10:30am, Domain shares were 11 per cent lower at $2.93. The stock is now down 22 percent from its $3.80 listing price in November 2017.
Domain will report its first-half financial results on 19 February. 
In the announcement to the ASX today, the company said based on preliminary unaudited pro-forma results, it was expected to report digital revenue growth of 22% against the same period last year and revenue growth of 13%. 
As a top 20 Fairfax shareholder, Catalano owns 0.32 per cent of the company’s stock, according to Bloomberg. 
Fairfax Media kept a 60 per cent stake.
 
 
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Melbournite Antony Catalano's shock departure from Domain as family demands 

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Deteriorating trading results in the McGrath estate agency finances have emerged in an internal document obtained by The Australian Financial Review.
The Fairfax newspaper advised it had obtained a document, McGrath Group Report November 2017, that showed McGrath Limited had sunk to a $1.3 million loss as it suffered from falling commission income from residential sales, against the targeted $3.3 million net profit after tax between July and November 30.
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A leak also advised there had been infighting within the publicly listed company board, and even "threats by the board to resign en masse over the Christmas holiday."
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<div>There was a McGrath board meeting on Friday but no announcements made to the stockmarket. It comes just hours before John McGrath was taking back the reigns of the McGrath Group.</div>
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<div>"It is understood the majority of the board clashed with Mr McGrath over the wording of the next trading upgrade to the ASX," The Australian Financial Review reported.</div>
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The loss for the first five months of the financial year compared to a $2.7 million net profit in the six months to December 2016.
Since listing in December 2015 McGrath has delivered several profit warnings prompting McGrath shares to be trading at around 57¢, well below its IPO price of $2.10. It has previously traded as low as 52 cents and fell back to 52 cents this morning.
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The emerging financial position could ignite more privatisation expectation of the agency which has a $76 million market capitalisation ahead of trade this morning.
John McGrath, who holds 26 per cent of the company, is now in a better position to lodge any bid, following his resignation last week from the board of the REA Group after 18 years. He holds $10.8 million REA Group shares which could be more readily sold given he was no longer a director the realestate website publishing group.
The internal documents show McGrath missed its internal forecast for earnings before interest, tax, depreciation and amortisation (EBITDA) by more than 80 per cent in the five months to November to generate $1.3 million instead of $7.8 million it had earlier expected. 
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The documents reportedly show the McGrath balance sheet has been hit by a large depreciation of its rent roll asset (or property management operations).
Operational expenses met budget expectations.
But there was a blowout in doubtful debts and legal fees due to an increase in legal action.
McGrath's earnings are substantially below forecasts by equities analyst Bell Potter, which estimated the group earnings of $16.6 million in 2018.
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<div>The board indicated in an update to the market last November that the agency might miss analyst targets.</div>
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"FY18 earnings could be 20 per cent to 25 per cent lower than the current analyst estimate, due to high restructuring charges and a partial year of cost savings," the company said.
When approached by the Financial Review, McGrath declined to comment over the weekend.
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"McGrath declined to comment other than to say the company is well aware of its continuous disclosure obligations which we take very seriously," a spokeswoman said.
The board, chaired by Cass O'Connor, has just five members including John McGrath. The other there directors are Elizabeth Crouch, Nigel Dews and Cath Rogers. Cameron Judson is the chief executive officer, Glynn Wright, the chief financial officer and Morgan Sloper, its head of corporate services/company secretary.
Several former Mcgrath executives have run a clandestine campaign of denigration against the group over the past year.
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Extraordinary McGrath Group leak suggests board in turmoil

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Westfield Corporation is set to be taken over by the European shopping centre giant, Unibail-Rodamco.
A global property giant with 104 malls in 27 markets around the world will emerge after a takeover deal worth $32.7 billion.
Estates Gazette noted Rothschild’s property team, led by Alex Midgen, advised Westfield as well as Intu and Deutsche Bank’s property team, led in Europe by Rishi Bhuchar &amp; Klaus Elmendorff advised Unibail as well Hammerson.
Unibail shares traded lower in overnight European trade.
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Frank Lowy, Westfield’s chairman, and his sons Steven and Peter, who are the current co-chief executives, will vote in favour of the deal, which values each Westfield security at an 18 per cent premium to the value of Westfield securities at the end of Monday’s trading session.
Peter Lowy calculated that since 1960 $1000 invested in Westfield would be worth $440 million.
The Lowy family said it intends to maintain an investment in the combined international group which is headquartered in Paris. As part of its takeover, shareholders will receive a combination of cash and shares in Unibal-Rodamco.
Frank Lowy said it was a day of mixed emotion but that he was certain it’s the right decision.... he foresaw a bright future.
Westfield chairman Sir Frank Lowy said the deal was “the culmination of the strategic journey Westfield has been on since its 2014 restructure”.
“We see this transaction as highly compelling for Westfield’s security holders and Unibail-Rodamco’s shareholders alike,” Sir Frank said.
He also suggested the family wanted to change their role to investors ... "we’ve [Frank &amp; sons] been doing it for a combined 145yrs.”
Shares in Westfield Corporation, the owner of shopping centres in the US and UK, were placed in a trading halt earlier today pending the announcement of a potentially “significant” corporate transaction.
Westfield shares had last traded on Monday at $8.55. 
Frank Lowy will retire as chairman of Westfield, but will chair an advisory board for the new merged company, while his sons Peter and Steven will retain leadership roles.
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<div id="unruly-publisher-marker__inArticle">Founded in Sydney in 1953 by Frank Lowy and John Saunders, Westfield currently has interests in 35 shopping centres in the US and the UK, while its Australian centres are managed by the separately listed Scentre Group which remains independent.</div>
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<div>Scentre rose 17¢, or 4.1 per cent, to $4.35 while other local property trusts including its rival Vicinity Centres picked up. Vicinity rose 2.5 per cent, or 7¢, to close at $2.87 on Tuesday.</div>
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<div>It started in humble Blacktown.</div>
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<div>Last month at a film crew's behest, Frank Lowy went back to Blacktown where the delicatessen was opened in 1955, followed by the first Westfield mall in 1959.
His biographer Jill Margo, writing in the AFR, noted when he was walking down the street two older women called out "Hey Frankie!".
"They recognised me!" he said. "They'd been customers in the deli 60 years ago and had such fond memories. We reflected on those memories and the fact that they still live with the pleasure of being acquainted with me was a great thrill. What more could I want."
Margo added that Frank was always adamant that there would be no Lowy dynasty.
He and his wife, Shirley, have 11 grandchildren and, so far, four great grandchildren.
<div>"While thrilled to work with his sons, David, Peter and Steven, he never believed in trying to coax any grandchildren into the business," Margo advised, adding the older ones now work in the investment arena, the theatre, the internet, medical clinics, not for profits, and small enterprises – all unrelated to malls.</div>
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And his sons collectively, had worked alongside their father for more than 90 years "and it's time," Margo concluded.
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It has been suggested the red Westfield brand will prevail, at least in English speaking world. </div>
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<div>Unibail-Rodamco's chief executive,Christophe Cuvillier a French retail veteran, spent three years in Sydney in the 1990s as head of L'Oreal's Australian luxury products division.</div>
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<div>The news comes just a week after property company, Hammerson, announced it had made a bid to take over rival firm, Intu.</div>
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