The Victorian Government has secured the passage of the Building Legislation and Treasury Legislation (Tax Relief) Amendment Bill 2026, introducing a suite of reforms aimed at improving consumer protection and confidence in the apartment market.

Resilience Insurance, Australia’s leading Latent Defects Insurance (LDI) provider, has welcomed the move.

The LDI elements of the Bill passed with bipartisan support and now moves to the Legislative Council where debate and passage are expected later this month. It represents a significant milestone in the national shift toward stronger, longer-term protection for apartment buyers.&nbsp;

The reform would deliver practical benefits across the housing system. Apartment owners will have stronger protection if major defects emerge, developers and builders will have a clearer quality framework to work within, and the State will reduce the risk of serious building failures becoming a long-term financial and social burden for households, communities and government.&nbsp;

LDI helps support apartment delivery while providing stronger protection for buyers and encouraging better construction outcomes.&nbsp;

Resilience LDI provides apartment owners with 10 years of insurance-backed cover for major structural defects from completion, with direct claim access to the insurer. This means owners are not required to first pursue developers or builders through costly legal action before accessing protection.&nbsp;

Resilience Insurance has been operating in Australia since 2022 and has already insured hundreds of development projects covering many thousands of apartments across Australia.&nbsp;

At approximately 1.8 per cent of build cost, it is a cost-competitive alternative to the traditional two per cent Strata Bond, bond while delivering significantly broader and longer protection.&nbsp;

“The Victorian Lower House vote shows that reforms like this succeed when they are practical, evidence-based and supported by industry," says Corey Nugent, CEO of Resilience Insurance.

"Victoria is moving quickly on a reform that will make a real difference for apartment buyers, while supporting better building outcomes and greater confidence in apartment delivery.

“This is step one. We look forward to the Bill completing its passage through the Legislative Council and to working with government and industry to implement the framework effectively.”&nbsp;

Fast Facts: What is Resilience LDI?&nbsp;

<ul>
	<li>Resilience Latent Defects Insurance (LDI): Covers major structural defects for 10 years from completion.&nbsp;</li>
	<li>Consumer-first: Direct claim access, no need for lengthy legal action.&nbsp;</li>
	<li>Cost advantage: At approximately 1.8% of build cost, LDI is typically priced below the traditional 2% Strata Bond while offering broader protection.&nbsp;</li>
	<li>Market leader: Resilience Insurance is the first approved LDI provider in NSW.</li>
</ul>

The Building Legislation and Treasury Legislation (Tax Relief) Amendment Bill 2026 has passed the Victorian Lower House, putting Victoria on track to become the first state to legislate an industry workable LDI framework as a formal alternative to the Strata Building bond. 

Joel Robinson

10-year Latent Defects Insurance for new apartment buyers set to land in Victoria

Just a few months after acquiring a prime Broadbeach site on the corner of First Avenue and Surf Parade, family-run developer <a href="https://www.apartments.com.au/developers/raptis">Raptis</a> has filed fresh plans for a new apartment development.

Raptis is seeking to deliver a <a href="https://www.apartments.com.au/new-apartments/17-19-first-avenue-broadbeach-qld-4217">29-storey tower with 73 apartments</a> on the 818 sqm site. It will be the developer's seventh project in the suburb, as they are approaching completion of The Sterling on George Avenue.

There will be a pool, barbecue and outdoor dining area, residents lounge and dining, sauna and steam room, gym, and a Yoga and Pilates studio.

<img alt="Raptis" data-entity-type="file" data-entity-uuid="b554da3f-7344-49aa-b1c9-44cf459af0d7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-05%20at%2010.41.45%E2%80%AFAM.png?VersionId=zzjWu1iO1wnuYv4EV4fyOyf5nSXjGYut" />

Raptis Joint Managing Director, Evan Raptis, says they remain&nbsp;committed to developing quality infill sites across the Gold Coast in the lead-up to the 2032 Brisbane Olympics.

"This project continues our long track record of delivery in Broadbeach, and we look forward to bringing another premium development to this thriving precinct."

The announcement follows strong delivery momentum for Raptis, with The Sterling Broadbeach nearing completion and construction well underway on the final stage of the Waterpoint community adjacent to Harbour Town. The developer's continued investment in the Gold Coast reflects confidence in the region's apartment market fundamentals, underpinned by sustained Southeast Queensland population growth.&nbsp;

The outlook for the region is further bolstered by infrastructure investment tied to the Brisbane 2032 Olympic Games, which is expected to drive continued economic and population growth across the SEQ corridor.&nbsp;

Subject to a favourable response from Gold Coast City Council, construction on the new First Avenue tower is targeted to commence before the end of 2026.&nbsp;

Read more:&nbsp;<a href="https://www.apartments.com.au/news/qld/it-s-all-in-the-family-four-decades-later-raptis-continues-to-shape-the-gold-coast-skyline">It’s all in the family: Four decades later, Raptis continues to shape the Gold Coast skyline</a>

Read more: <a href="https://www.apartments.com.au/news/qld/raptis-secures-prime-surf-parade-site-for-next-broadbeach-apartment-development">Raptis secures prime Surf Parade site for next Broadbeach apartment development</a> 
&nbsp;

Gold Coast developer brings seventh Broadbeach project to market, targeting construction commencement before year end

First look: Raptis lodges plans for new 29-storey Broadbeach tower 

Brisbane development veteran Kevin Seymour's Seymour Group is set to deepen its presence on one of Brisbane's most tightly held riverfront addresses, lodging revised plans for a luxury apartment development on Oxlade, just a few doors down from The Oxlade, which it completed in 2024.

The <a href="https://www.apartments.com.au/new-apartments/70-72-oxlade-drive-new-farm-qld-4005">new project at 70-72 Oxlade Drive</a>, directly north of The Oxlade, will have 27 apartments across a seven-storey building&nbsp;overlooking the Brisbane River and Merthyr Park. It's a revision from a 2021-approved design.

Designed by bureau^proberts, the project has evolved from the previously approved 26-apartment scheme, introducing an additional penthouse level while maintaining a low-density, boutique character. The development will comprise 26 three-bedroom apartments and a single four-bedroom penthouse, supported by two basement levels with 86 car spaces and 34 bicycle spaces.

The architectural response is centred around two distinct building forms separated by a landscaped open-air atrium.&nbsp;"This dual composition captures and embraces Brisbane’s subtropical environment whilst breaking down built form and scale," the submission to the Brisbane City Council noted.

<img alt="First look: Seymour Group returns to Oxlade Drive with revised riverfront apartment plans in New Farm" data-entity-type="file" data-entity-uuid="c12d84d0-bc11-4067-b46f-5bd2d786a34d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/new%20farm%20landscape.png?VersionId=YEPc2k5CAdh6aAPlu4uVpgZadh4MEfRd" />

A defining feature of the design is a deep landscaped void running through the centre of the building, creating what bureau^proberts describes as a "natural ravine" that enhances airflow, daylight penetration and resident amenity. The design report notes that the separation of the two building volumes is intended to maximise natural light, cross-ventilation and outlook while strengthening connections to the surrounding riverfront setting.

Curved balcony edges, integrated planting and extensive landscaping throughout the façade reinforce the subtropical design approach. The building's façade is softened by elevated gardens and planter beds, creating a green edge that complements the established landscape character of Oxlade Drive and neighbouring Merthyr Park.

New Farm has become one of Brisbane's most sought-after suburbs for developers delivering premium downsizer-focused apartments.

GRAYA has been particularly active in the precinct, completing both Chalk and York in recent years, while construction of Moray House, being delivered for Spyre, is now nearing completion. Architect-turned-developer Joe Adsett recently launched <a href="https://www.apartments.com.au/new-apartments/arcilla-new-farm-by-joe-adsett-28-maxwell-street-new-farm-qld-4005">Arcilla on Maxwell Street</a>, an exclusive collection of just nine apartments.

First look: Seymour Group returns to New Farm's Oxlade Drive with riverfront apartment plans

A new residential tower will be the first piece of a broader mixed-use precinct set to reshape a prominent Newcastle West site, with local developer <a href="https://www.apartments.com.au/developers/gwh">GWH</a> bringing its <a href="https://www.apartments.com.au/new-apartments/cambridge-quarter-newcastle-west-12-denison-street-newcastle-west-nsw-2302">Cambridge Quarter</a> vision to market.

The first release, Tempo, will introduce 87 apartments across a 24-storey tower, marking Stage 1 of the residential component of a larger urban regeneration project planned for the western end of Newcastle's city centre, encompassing the former Cambridge Hotel site.

Positioned on Denison Street, Tempo has been designed as the inaugural building within Cambridge Quarter, a precinct that will ultimately combine apartments, retail activation and revitalised public spaces including the revamping of the Cambridge Hotel.

[smartcode_project:default project_id=135876 project_image_fid=368853]

The tower will comprise a mix of one, two and three-bedroom apartments, including layouts with multipurpose rooms, catering to a broad cross-section of owner-occupiers. Apartment sizes range from around 60 sqm to 192 sqm, with a number of residences oriented to capture views across Newcastle Harbour, the city skyline and coastline.

GWH has emphasised liveability in the design, with open-plan layouts extending to generous balconies and terraces. Residents will have a choice of two interior palettes, while specifications include engineered stone benchtops, SMEG appliances, full-height bathroom tiling and secure building access. Premium upgrade packages will also be available.

Multiple rooftop resident retreats will provide communal outdoor space overlooking the harbour and city, offering an elevated amenity layer above the activity of the precinct below.

[smartcode_project:default project_id=135876 project_image_fid=368851]

The broader Cambridge Quarter vision extends beyond the residential tower itself. Ground-level retail activation and landscaped public areas are planned throughout the precinct, creating a walkable neighbourhood environment connected to the surrounding renewal of Newcastle West. The Cambridge Hotel is also earmarked for future redevelopment into a family-friendly hospitality venue integrated with the new precinct.

The project is strategically positioned within walking distance of Newcastle Interchange, providing access to light rail, regional rail services and direct connections to Sydney. Residents will also be close to Honeysuckle, Newcastle Harbour and the city's beaches and coastal walkways.

[smartcode_project:default project_id=135876 project_image_fid=368852]

For GWH, Cambridge Quarter represents one of its most significant Newcastle developments to date. The locally based developer, which has operated in the Hunter region since 1995, describes the project as a new chapter in the ongoing transformation of Newcastle West.

GWH Executive Director Jonathan Craig said the project had been shaped by a focus on creating lasting community connections.

"We take pride in creating places that last. Spaces where people feel connected, comfortable and a genuine sense of belonging," Craig said.

"Cambridge Quarter is something we are truly proud of, a place shaped by local knowledge, built with care and designed to be part of Newcastle's next chapter."

[smartcode_project_cta:default project_id=135876]

GWH unveils first release at landmark Cambridge Quarter precinct in Newcastle West

<a href="https://www.apartments.com.au/developers/ss-projects">S&amp;S Projects</a>,&nbsp;Rainbow Bay's busiest developer,&nbsp;has officially lodged plans for the largest development in its booming local portfolio, seeking approval for a further 88 apartments on Boundary Street.

The proposal&nbsp;at <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">209–213 Boundary Street, Coolangatta</a>,&nbsp;marks the next chapter in the developer's transformation of the southern Gold Coast beachside precinct. It will be its fifth in the area, having already delivered Flow, Awaken and Esprit, while construction continues on the 38-apartment Radia. The new project would rise 57 metres above a consolidated 1,518 sqm site, on the same street as Radia and Esprit.

&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, the proposed development comprises 88 two and three-bedroom apartments across a contemporary podium-and-tower form that integrates extensive landscaping from street level through to the rooftop.

The tower would be delivered above a basement and multi-level podium accommodating resident and visitor parking, with the residential component commencing from level three. The design incorporates cascading planting throughout the façade, landscaped podium edges, and deep planting zones along the Boundary Street frontage.

<img alt="First look: S&amp;S Projects lodges plans for 88-apartment wellness tower at Coolangatta's Boundary Street" data-entity-type="file" data-entity-uuid="677e6615-b5c0-4b6c-b4f9-efb14fcde1a6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ss%20da%20pers.png?VersionId=YOnPKQm7IFXv0M5H326djEpxk80500Hi" />

A key feature of the development is its expansive rooftop wellness and recreation precinct. Plans reveal a resort-style pool deck, gymnasium, sauna, steam room, hot and cold plunge pools, rooftop terraces, barbecue areas and landscaped relaxation spaces positioned to capture views across the southern Gold Coast coastline.

The rooftop wellness focus builds on the vision S&amp;S Projects first outlined when it acquired the site for $20.25 million last year.

"We are taking every advantage to create a truly unique rooftop wellness experience with a natural feel for residents, offering stone features throughout and an underlying theme that emulates a botanical garden," S&amp;S Projects founder and director Paul Gedoun said at the time.

The proposal seeks a 57-metre building height, representing a 50 per cent uplift on the site's mapped 38-metre height limit. Planning documents argue the additional height is consistent with recently approved and emerging towers in the immediate Boundary Street and Rainbow Bay precinct.

Urbis, acting as planning consultant, said the development would provide "88 dwellings, comprising a mix of two and three-bedroom apartments, contributing to housing choice and supply within an established medium to high-rise coastal urban neighbourhood."

The scheme has undergone extensive pre-lodgement consultation with the City of Gold Coast, with the design refined following feedback relating to architectural expression, landscaping, traffic access and podium treatment.

<img alt="S&amp;S" data-entity-type="file" data-entity-uuid="0a2d70fd-62ac-4b83-97c6-b798fc1243dd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-05%20at%209.16.31%E2%80%AFAM.png?VersionId=yHmghUwKM3IVGpBktQU1mE.0Lpf3WimG" />

The architectural team is led by Brisbane-based Cottee Parker, one of Australia's most active residential design studios, with landscape architecture by Dunn + Moran. The consultant team also includes ADG Engineers, Windtech and Acoustic Works.

S&amp;S Projects has become one of the most influential private developers operating on the southern Gold Coast. Since entering Rainbow Bay in 2022, the company has assembled a portfolio exceeding $1 billion in end value, establishing itself as a key player in the area's evolution into a premium apartment destination. Pezet Matheson will again handle the sales for S&amp;S.

Coolangatta is entering another wave of apartment development, following the delivery of several prominent residential projects in recent years.

John Kearney's Immerse Projects will launch&nbsp;<a href="https://www.apartments.com.au/new-apartments/kaiya-kirra-beach-5-haig-street-coolangatta-qld-4225">Kaiya on Haig Street</a>&nbsp;soon, meanwhile, Palm Beach-based Sherpa Property Group is preparing to bring its debut Coolangatta development, <a href="https://www.apartments.com.au/new-apartments/flourish-viver-87-griffith-street-coolangatta-qld-4225">Flourish Viveré</a>, to market later this year, subject to approvals.

First look: S&S Projects proposes 88-apartment wellness tower at Coolangatta's Boundary Street

<html><body>
The iconic Australian Exchange Centre, home of the ASX, is soon to hit the market with price expectations of more than $325 million. 
The listing of the building at 20 Bridge Street in the heart of Sydney’s financial district makes it the first institutional grade Sydney CBD core offering since June 2013. 
The Malaysian pension fund Kumpulan Wang Persaraan is selling the Exchange Centre.
The A-grade 20,329 sqm commercial building comprises 13 upper levels of office accommodation, ‘Exchange Square’ retail on the ground level and an auditorium at basement level.
The building is 96 per cent leased with a long Weighted Average Lease Expiry (WALE) of more than seven years and managed by Investa.
It last exchanged hands for $185 million in 2011, being snapped up by an offshore institutional investor, according to RP Data.  
The ASX Group occupies more than 45 per cent of the building, with a lease expiry of more than 11 years.
The listing agents are Simon Fenn, Ian Hetherington and Ben Azar of Savills.
The high profile asset is only one of six buildings valued at over circa $200 million and which is 100 per cent owned within the CBD core.
“This is a rare opportunity to purchase 100 per cent interest in the Sydney core and we expect a strong mix of both local and offshore interest, likely to come from China, Hong Kong, Singapore, Japan and parts of Europe,” said Simon Fenn, managing director NSW at Savills. 
The Exchange Centre is minutes from Circular Quay and Wynyard Train Station. 
 
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Sydney’s coveted Exchange Centre lists through Savills with price hopes of more than $325 million

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ASX-listed Propertylink Group (ASX:PLG) has posted net earnings of $18.71 million for the six months ending December 31, 2016, the first since its disappointing debut on the market last year.
Propertylink, which owns industrial and logistics properties and also invests in them,  said total comprehensive income for the half year was $38.13 million.
The company said it was on target to deliver the FY2017 forecasts of distributable earnings per security of 6.67 cents and distribution per security of 6.32 cents (pro-rata from the completion of the IPO).
The company declared an interim distribution of 2.7 cents per security, to be paid on March 3.
Propertylink, which raised $502 million from its IPO, made a disappointing market debut in August 2016 when its shares slumped 9 percent.
Chief executive Stuart Dawes hinted that the company was looking to acquire more assets.
“We currently have a strong pipeline of additional assets in due diligence for continued growth in our investment management business and anticipate adding new investors to the investment management platform,” said Dawes.
“We will also continue to assess opportunities to realise assets where strong performance can be crystalised for our investors.”
Financial Highlights
<table style="width: 342px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="179">
 
</td>
<td valign="top" width="82">
1HY15 ($m)
</td>
<td valign="top" width="82">
1HY16 ($m)
</td>
</tr>
<tr>
<td valign="top" width="179">
Net property income
</td>
<td valign="top" width="82">
0.165
</td>
<td valign="top" width="82">
18.714
</td>
</tr>
<tr>
<td valign="top" width="179">
Co-investment income
</td>
<td valign="top" width="82">
1.699
</td>
<td valign="top" width="82">
2.957
</td>
</tr>
<tr>
<td valign="top" width="179">
Investment management revenue
</td>
<td valign="top" width="82">
5.729
</td>
<td valign="top" width="82">
31.278
</td>
</tr>
<tr>
<td valign="top" width="179">
Total comprehensive income
</td>
<td valign="top" width="82">
1.592
</td>
<td valign="top" width="82">
38.137
</td>
</tr>
<tr>
<td valign="top" width="179">
Distributable Earnings
</td>
<td valign="top" width="82">
N/a
</td>
<td valign="top" width="82">
18.045
</td>
</tr>
</tbody></table>
The company said it had kept good momentum in leasing transactions with tenant retention of more than 80 percent. Dawes said Properylink’s portfolio had increased to $697.8 million due to the "team’s active approach to asset management". It completed 35 leasing transactions during the six months, covering 128,418 sqm and accounting for 25.5% of the portfolio. It also increased the weighted average lease expiry (WALE) of the overall portfolio to 4.4 years.
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j.ballantyne1990-6AQqhLzZaK

Propertylink posts net income of $18.7 million, says on the lookout for assets

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DEXUS Property has advised occupancy (by area) at Grosvenor Place, Sydney increased to 96 percent from 94.5 percent at 30 June 2016.
 
It also secured 2,981 square metres of leasing at 385 Bourke Street, Melbourne increasing occupancy to 97.9 percent from 94.5 percent.
 
The advisory was part of DEXUS Property Group updating the leasing status across its property portfolio.
 
It advised it had leased 54,734 square metres of office space across 78 transactions, with occupancy maintained at 96 percent.
 
It also leased a significant amount of industrial space in a three month period securing 158,811 square metres1 of industrial space across 47 transactions, with occupancy improving to 92.3 percent.
 
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="142">
Key metrics
</td>
<td valign="top" width="142">
30 September 2016
</td>
<td valign="top" width="142">
30 June 2016
</td>
</tr>
<tr>
<td valign="top" width="142">
Occupancy by income
</td>
<td valign="top" width="142">
96.0%
</td>
<td valign="top" width="142">
96.3%
</td>
</tr>
<tr>
<td valign="top" width="142">
Occupancy by area
</td>
<td valign="top" width="142">
95.9%
</td>
<td valign="top" width="142">
96.3%
</td>
</tr>
<tr>
<td valign="top" width="142">
WALE by income
</td>
<td valign="top" width="142">
4.9 years
</td>
<td valign="top" width="142">
4.7 years
</td>
</tr>
<tr>
<td valign="top" width="142">
Average incentive
</td>
<td valign="top" width="142">
15.4%
</td>
<td valign="top" width="142">
17.7%
</td>
</tr>
</tbody></table>
Kevin George DEXUS Executive General Manager, Office &amp; Industrial said the strength of demand in the Sydney office market continued to flow through to the DEXUS portfolio during the quarter.
"We have seen our overall average incentives fall across the portfolio, driven by some properties which are in high demand and as a result have achieved solid growth in rents and reduced incentives at these properties.”
Notable activity for the quarter included:
<ul>
<li>Securing leasing commitments across 10,784 square metres of space at 30 The Bond, Sydney, after the surrender of office space previously occupied by Lend Lease – including securing a new lease with Roche across 4,418 square metres. Only 5,347 square metres remains to be leased at 30 The Bond</li>
<li>Securing three new leases with various tenants across 4,000 square metres at Waterfront Place, Brisbane</li>
<li>Renewing a lease with the South Australian State Government across 9,253 square metres at 11 Waymouth Street, Adelaide</li>
</ul>
Despite the surrender of lease by Lend Lease, occupancy (by income) only decreased slightly to 96.0 percent from 96.3 percent at 30 June 2016 across the total office portfolio, while the weighted average lease expiry (WALE) increased by 0.2 years to 4.9 years.
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Grosvenor Place, Sydney sitting at 96 percent full

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Property Connect, a rental property technology company, is raising $2.5 million through a public listing on the Australian Securities Exchange (ASX) as as part of a reverse takeover by Conquest Agri (ASX:CQA).
The company will issue 50 million shares at A$0.05 per share, giving it a market cap of A$12.28 million upon listing, expected March 7 under the proposed ASX code PCH.
Property Connect has developed a program called LiveOffer, through which potential tenants can make an offer on a rental property, thus creating a fair market value for rental properties.
LiveOffer™ provides the renter with the ability to adjust the rent paid, move in date and lease term to create an overall scenario for the property manager.
“We provide a win-win situation, instantly matching the ideal renter for the property and securing the optimum outcome for the property manager,” said Property Connect founder, former Sydney property developer Tim Manson.
Manson has relocated to California seeking to launch the LiveOffer™ technology into the US multi-family apartment market.
“Feedback from those who have trialled the technology has been excellent and we have a host of clients eagerly anticipating the new version.”
Version 2.0 of LiveOffer™ is expected in Q2 CY2016.
Property Connect will charge a set-up fee and monthly fee for each community placed on the LiveOffer™ system by the property manager, in addition to a 1-3% transaction fee per lease passed through the platform.
The product also provides an opportunity for tenants to upgrade to premium apartments that become available.
The company has signed agreements with 10 US property management groups, with more than 100,000 combined listings per annum, for use of the LiveOffer™ platform.
Funds from the capital raising will be used for system development, hiring and working capital. 
GTT Ventures Pty Ltd is sole lead manager for the equity raising.
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Rental tech firm Property Connect set to list on ASX

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Updater, the United States company that specialises in home relocation services, listed on the ASX today at 36 cents after its 20 cents IPO which raised $22 million from Australian investors for an $85 million market capitalisation.
Although the company is listed on the ASX, with investors including Melbourne billionaire Alex Waislitz , it won't sell any products in Australia, just in the US where it intends seeking Nasdaq listing at a later stage in its growth. 
Updater will list on the ASX via Chess Depositary Interests (CDIs), which allow international companies to trade on the local stock exchange. 
It will be priced at 20¢ a CDI, 25 of which will equate to one share of the company's common stock.
Moelis &amp; Co and Euroz Securities were the co-lead managers for the float.
Its private investors include Domain executive Antony Catalano and investor David Paradice, portfolio manager for Paradice Investment Management.
Updater, specialises in home relocations, arranging the forwarding of mail, updating of accounts and records and organising other relocation logistics, via a centralised online platform.
Founder and chief executive David Greenberg said Updater had about two% of the US home relocation market with hopes of five per cent by the end of next year.
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jchancellor-FAypfDUnLy

Updater lists on ASX with influential investors

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Mooted on and off for the past two decades, the public float of the McGrath estate agency is now tipped as possibly scheduled for November this year.
The much-read Australian Financial Review Street Talk columnists write McGrath Estate Agents has kicked off a beauty parade for advisers on a potential initial public offering.
It was mooted last year and before that as far back to the late 1990s.
The company, formally founded by high-profile chief executive John McGrath in 1988, along with his adviser, Luminis Partners took pitches from retail brokers and investment banks for the public market float this week.
The fallback position is that McGrath Estate Agents is keeping its options open as it looks for funding to further its national expansion.
"If the company was to opt for a float, it would likely take place in November, after companies' reporting season and in the midst of the spring property selling season," the AFR’s Street Talk writers, editor Sarah Thompson, Anthony Macdonald and Jake Mitchell write.
They dominate the AFR readership traffic, according to leaked details covering the month to April 15, 2015, despite the strength of their Canberra coverage from gallery stalwarts Laura Tingle and Phillip Coorey. The rankings published by Mumbrella are by absolute number of page views rather than page views per article.
Rear Window columnist Joe "Mortdecai" Aston sat in eighth place. 
Former Property Observer writer Larry Schlesinger topped the property section writers in 10th place.
The former Property Observer columnist Chris Joye sits in 24th place. He re-wrote today that the RBA has been blindsided by housing dynamics over the past couple of years as it has never confronted such conditions. 
"In 1991 the value of housing debt divided by disposable household income was 35 per cent. Today it is more than 140 per cent, and climbing daily," Joye wrote.
When ranked by page views per article Chris Joye sat in fourth place behind Laura Tingle, Phil Coorey and Jonathon Shapiro. 
The national business broadsheet had a 7.5% circulation fall on weekdays to 56,160, while its weekend edition fell 1.3% drop to a circulation of 61,911, according to the latest Audit Bureau of Circulation figures.
Fairfax doesn't release digital subscription numbers for the AFR, because the numbers are slight.
Street Talk revealed <a href="/news/john-mcgrath-finally-thinks-of-venturing-into-victoria">McGrath had appointed Simon Mordant of Luminis</a> to advise on growth options last month. Title Tattle revealed <a href="/news/simon-mordant-sells-in-point-piper-to-downsize-into-thomas-hamel-flat">Simon Mordant's property downsizing</a> earlier this year.
McGrath Estate Agents has 62 offices across NSW, south-east Queensland and the ACT, most of which are franchises.
In March McGrath Estate Agents announced it recorded its best month in the company's history.
 
The real estate agency based across New South Wales, Queensland and the ACT turned over more than $1.46 billion in property during March with 1281 sales from 62 offices. This reflected a 14.6 per cent increase on the previous company record of $1.27 billion recorded in November 2014.
 
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