<p>Holiday home buyers who have long gravitated to Queenstown’s alpine setting are increasingly looking for low-maintenance apartments that allow them to lock up and leave, while still generating income when they’re away.</p>

<p>For Wendy, who had spent years visiting the Queenstown and Arrowtown region, <a href="https://www.apartments.com.au/developers/safari-group">Safari Group</a>’s Mountain Oak Apartments provided the opportunity to formalise what had previously been a recurring holiday pattern.</p>

<p>“We always had Queenstown in the back of our minds to buy something there as a holiday home,” she says. “We love the Queenstown and Arrowtown area.”</p>

<p><img alt="From slopes to markets: Mountain Oak connects residents to the best of Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/658d4f_48c3ec1ae5df4a2cab7d23c07c7f51b3~mv2.jpg?VersionId=27K8oQ4ExDN8Yu70VHDa9Olq59XU36m3" /></p>

<p>Time spent visiting her sister-in-law, who owns in Arrowtown, along with regular stays at Millbrook Resort, had already shaped a strong personal connection to the region.&nbsp;</p>

<p>Rather than approaching the purchase purely as an investment play, Wendy’s starting point was lifestyle.</p>

<p>“We were more thinking about ourselves and where we could stay, and then the rental aspect was second.”</p>

<p>Mountain Oak Apartments, located within the masterplanned Remarkables Park precinct in Frankton, aligned with that thinking. The ability to secure the apartment with a deposit and settle on completion made the timing work.</p>

<p>“The fact that we could put a deposit down with the balance on completion was a bonus for us,” she explains.</p>

<p><img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" /></p>

<p>Wendy selected a two-bedroom, two-bathroom penthouse, a configuration that supports both private use and guest flexibility.</p>

<p>“The two-bedroom, two-bathroom configuration appealed from both a rental viewpoint and for the ability to have friends stay while we are there,” she says.</p>

<p>Across the development, two-bedroom apartments range from 64sqm to 78sqm, with two-bedroom plus flexi options from 71sqm to 75sqm, each with an allocated car park. The flexi layouts introduce an additional space suited to work or hobbies, reflecting demand from buyers who split their time between leisure and remote work.</p>

<p>Apartments include underfloor heating in bathrooms, heat pumps to living areas, and joinery positioned to maximise natural light and mountain outlooks. The Remarkables Park precinct is known for its extended winter sunshine hours, water frontage and open views toward The Remarkables.&nbsp;</p>

<p>Units come in light and dark interior colour schemes.</p>

<p><img alt="Mountain Oak Apartments draws holiday home buyers to Queenstown" data-entity-type="file" data-entity-uuid="fd685a22-3b95-43a1-87cb-48fdd42bb4ba" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/658d4f_f9f89107c2704ebbbe5a6b36da508cb3~mv2.jpg?VersionId=MigFIEm6b.mrANANwxSmwHvC4RdJUuyR" /></p>

<p>While lifestyle was the primary driver, the fundamentals of the Queenstown market added reassurance.&nbsp;</p>

<p>“Proximity to the airport and tourism being the main attraction all year round,” Wendy says, when asked what stood out from an investment perspective.</p>

<p>Mountain Oak sits just eight kilometres from Queenstown’s CBD and around a two-minute drive from Queenstown Airport.&nbsp;</p>

<p>For Wendy, that airport proximity carries practical value.</p>

<p>“The airport proximity is a bonus, we think that being so close will be an attraction for the convenience side.”</p>

<p>Residents are also a short drive from Coronet Peak, Jack’s Point Golf Course, New World Supermarket, Five Mile Shopping Centre, and the dining, medical, gym, cinema and library amenities within the town centre, as well as the seasonal Remarkables Market.</p>

<p>Importantly, the purchase does not lock owners into a single use. Mountain Oak offers the flexibility to opt for short-term visitor accommodation or longer-term residential rental management, with 365-day visitor accommodation consent in place. Owners can utilise Safari Group’s 24/7 on-site management service or appoint their own provider, and do not need to decide on a strategy immediately.</p>

<p>“It was a bonus that we can rent it out as well as use it for ourselves,” she says.</p>

<p>Additional buying options, including furniture packages and storage units available for purchase within the building, further support a lock-and-leave model suited to interstate and overseas owners.</p>

<p><img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" /></p>

<p>Mountain Oak Apartments comprises 141 residences, ranging from one-bedroom configurations through to larger apartments and penthouses. One-bedroom apartments are currently priced from NZ$639,000, with three-bedroom options from NZ$1,299,000.</p>

<p>With 365-day visitor accommodation consent, the development is structured to respond to Queenstown’s established four-season tourism economy, spanning winter ski traffic and summer hiking, cycling, golf and lake-based activity.</p>

<p>Although Wendy acknowledges the strength of rental demand, her approach remains long term.</p>

<p>“We’re not planning to sell it anytime soon, so we are keen to hang on to it, but the passive income will be a bonus.”</p>

<p>Confidence in the developer also influenced her decision. Before proceeding, Wendy sought feedback within the local building community.</p>

<p>“We asked around and Safari Group had a good reputation,” she says.</p>

<p>Safari Group has delivered more than 2,000 hotel units and residential apartments across over 18 developments nationwide, with more than 25 years’ experience in the sector.</p>

<p>With completion anticipated by mid-2027, Mountain Oak is attracting a cross-section of buyers, from yield-focused investors to lifestyle purchasers seeking a foothold in one of New Zealand’s most tightly held alpine markets.</p>

<p>For Wendy, it represents both a future holiday base and a long-term asset within Queenstown’s year-round tourism economy.</p>


Joel Robinson

How Mountain Oak Apartments draws holiday home buyers to Queenstown

<p>Eduard Litver's Capitel Group is seeking to redevelop Chatswood's Mandarin Centre in the heart of the burgeoning suburb.</p>

<p>Capitel Group, in a joint venture with Metis Group, has filed a State Significant Development Application (SSDA) to demolish the Mandarin Centre and construct a 32-storey tower designed by Skidmore, Owings &amp; Merrill (SOM) with 325 apartments.</p>

<p>The 3,524 sqm site at 61A-65 Albert Avenue will also home extensive retail amenity, both at street-level and across a four-level podium.</p>

<p><img alt="First look: Metis and Capitel unveil $1.2bn+ plan to redevelop Chatswood’s Mandarin Centre" data-entity-type="file" data-entity-uuid="905976ea-08cd-409f-8a4c-33a3fb8bf351" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/1771923441002.png?VersionId=f_xI2ejpxQvEm4fPqGji01RY9_AWVY6O" /></p>

<p>In its early stage Design Report submitted to the NSW Government's Housing Delivery Authority, SOM describes the ambition for the project as one that “aims to revitalise and reactivate an important corner of the Chatswood CBD.”</p>

<p>The architects note that the existing shopping centre “has a lack of vertical connection between its five levels of retail and a cumbersome pedestrian access from the street to the second-level transit connection,” framing the redevelopment as an opportunity to reconfigure circulation and better integrate with surrounding transport infrastructure.</p>

<p>The design adopts a single tower configuration, shaped through early testing to respond to neighbouring buildings and key public spaces.</p>

<p>Retail activation is concentrated at ground and lower podium levels, with a focus on food and beverage, lifestyle and wellness tenancies. The intent is to create a more permeable ground plane and improve connections between Albert Avenue, Victor Street and the Chatswood transport interchange, located within walking distance of the site.</p>

<p><img alt="First look: Metis and Capitel unveil $1.2bn+ plan to redevelop Chatswood’s Mandarin Centre" data-entity-type="file" data-entity-uuid="b1e0c8cb-ee9b-41c1-97ac-0455c043b9e7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/1771923442914.png?VersionId=y.Kbo.9bzLIbOabeygYts8Uf9imI.Dqh" /></p>

<p>The site occupies a prominent position on the southern edge of the Chatswood CBD core, bounded by Albert Avenue and Victor Street. It sits near the rail and metro interchange and within close proximity to Chatswood Chase, Westfield Chatswood, Chatswood Oval and a range of commercial office towers and residential buildings.</p>

<p>Chatswood has been one, and continues to be, of the most popular suburbs for developers in recent years. The most recent tower to launch is Hyecorp's Celine on Archer Street, which followed The Anderson by Changfa and Huirong.</p>

<p>Soon to launch is Coronation's Archer &amp; Albert nearby the new proposal.</p>


Chatswood boom continues with Capitel and Metis’s $1.2 billion Mandarin Centre redevelopment

<p>Apartment development applications continue to tally up in Rose Bay following the NSW Gov's 2025 update to the Low and Mid-Rise Housing Policy.</p>

<p>&nbsp;</p>

<p>Some $200 million worth of developments were filed in the space of four weeks at the back end of last year, with the likes of Fyve, HSN, Luxcon and Fortis all seeking to creating new apartment buildings.</p>

<p>The latest plans are for an amalgamated 3,105 sqm site across Conway Avenue, Fernleigh Avenue, and Carlisle Street. Developer Mathieson Property is planning <a href="https://www.apartments.com.au/new-apartments/dian-2-6-conway-avenue-rose-bay-nsw-2029">Dian</a>, 70 apartments across a new eight-storey building, perched on a ridgeline within walking distance of Rose Bay Town Centre.</p>

<p>The State Significant Development Application (SSDA), includes one-, two-, three- and four-bedroom configurations. Over 15 per cent will be dedicated as affordable, as per the NSW Government's push for affordable housing. The 17 apartments will be managed by a community housing provider for 15 years following completion of the building.</p>

<p><img alt="First Look: Mathieson Property unveils eight-storey infill housing proposal ‘Dian’ in Rose Bay" data-entity-type="file" data-entity-uuid="f99c21d9-e69d-4a23-ae35-3244cfa0b4ae" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Rose%20Bay%20site_0.png?VersionId=67KSZfecJ3fvn1ewo9xxKrneRT.Nsjwd" /></p>

<p>MHNDU has designed the building around three central cores, with lower-level apartments arranged to maximise corner balconies and cross-ventilation. Upper levels are configured with dual north–south aspects to capture harbour views and solar access.</p>

<p>Private open space is a key feature of the scheme, with generous balconies and terraces throughout. Five ground-floor apartments would include private pools, while one upper-level residence will feature a rooftop terrace and pool. A communal room and adjoining landscaped outdoor terraces provide shared open space for residents.</p>

<p><img alt="First Look: Mathieson Property unveils eight-storey infill housing proposal ‘Dian’ in Rose Bay" data-entity-type="file" data-entity-uuid="dd2e275f-c270-4eb1-9a02-2b573b8eb540" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Rose%20Bay%20front_0.png?VersionId=Us5jNEG6iLFLLMfQSzVBVdILYobBj.g9" /></p>

<p>The site sits around 365 metres walking distance of Rose Bay Town Centre and around 312 metres from regular bus services on New South Head Road, meeting the accessible area criteria under the Housing SEPP.</p>

<p>In early 2025, the NSW Government implemented significant changes to its Low and Mid-Rise Housing Policy, altering planning controls to allow greater density for new apartment projects within an 800-metre walking distance of stations and town centres in the&nbsp;<a href="https://www.apartments.com.au/developments/woollahra-nsw-2025">Woollahra</a>&nbsp;Local Government Area, overriding existing local controls. Buildings are now permitted to rise up to six storeys within 400 metres of a station or centre, or eight storeys where affordable housing is incorporated, and up to four storeys within the 401 to 800 metre radius, which can increase to six storeys with affordable housing.</p>


Mathieson Property unveils Dian Rose Bay apartment development

<p>Lower North Shore developer <a href="https://www.apartments.com.au/developers/hyecorp-property-group">Hyecorp</a> is preparing to launch <a href="https://www.apartments.com.au/new-apartments/celine-chatswood-37-archer-street-chatswood-nsw-2067">Celine</a>, its new apartment development in Chatswood.</p>

<p>Set within a blue ribbon location on Archer Street, Celine will rise on a quiet, tree-lined enclave on the edge of the South Chatswood Heritage Conservation Area, a short walk from the connectivity which Chatswood is famous for.</p>

<p>Celine will deliver 122 one, two, three, and four-bedroom residences, designed to accommodate a broad range of buyers, from owner-occupiers to investors.</p>

<p>[smartcode_project:default project_id=149594 project_image_fid=362610]</p>

<p>Designed by&nbsp;<a href="https://www.apartments.com.au/architects/fuse-architecture-0">Fuse Architects</a>, the 29-storey tower has been shaped to respond to its Archer Street setting, with a defined podium and slender upper levels.&nbsp;</p>

<p>The building incorporates a two-storey residential lobby at the corner, double-height retail fronting Bertram Street, food and beverage tenancies along a through-site link, and two levels of commercial office space.&nbsp;</p>

<p>A landscaped pedestrian connection between Archer and Bertram streets will provide a publicly accessible link through the site, extending activity at ground level beyond the building footprint.</p>

<p>[smartcode_project:default project_id=149594 project_image_fid=362606]</p>

<p>Inside, Hyecorp is emphasising scale and flexibility. Most residences will incorporate multipurpose rooms, allowing buyers to configure additional living, study or guest space within their floorplan.&nbsp;</p>

<p>Kitchens have been designed with proportions more commonly associated with standalone homes, complemented by Gaggenau and Miele appliances, integrated refrigeration, Miele laundry appliances, Taj Mahal stone and bronze tapware.&nbsp;</p>

<p>Buyers will also have the option to tailor aspects of their home through the developer’s “Live Your Way” personalisation service.</p>

<p>Resident amenity will include an outdoor pool, gym and sauna, as well as barbecue and lounge areas designed for shared use. Upper levels are oriented to capture eastern outlooks towards the Sydney CBD and surrounding greenery.</p>

<p>[smartcode_project:default project_id=149594 project_image_fid=362633]</p>

<p>The location places future residents within 800 metres of Chatswood Interchange, providing access to metro and rail services, and within walking distance of Westfield, Chatswood Chase and the Chatswood Concourse. Parks including Chatswood Park and Beauchamp Park are nearby, along with a cluster of schools and private hospitals.</p>

<p>Celine continues Hyecorp’s focus on the Lower North Shore. The Australian, family-owned developer has been operating locally for more than 30 years, with recent projects including Audrey in St Leonards, now nearing completion, and Juliet in Roseville. With registrations expected to open soon, Celine represents the group’s latest addition to the Chatswood apartment market.</p>

<p>[smartcode_project_cta:default project_id=149594]</p>


Hyecorp unveils Celine, a striking new apartment tower in the heart of Chatswood

<p>International development company <a href="https://www.apartments.com.au/developers/spg-land">SPG Land</a> has kicked off construction of the $1.5 billion <a href="https://www.apartments.com.au/new-apartments/paradiso-place-surfers-paradise-103-ferny-avenue-surfers-paradise-qld-4217">Paradiso Place</a>, one of the highest value developments to get underway on the Gold Coast in more than a decade.</p>

<p>Located on a 1.15ha site stretching from Surfers Paradise Boulevard to Ferny Avenue, Paradiso Place, when completed, will deliver 845 residences across three residential towers. &nbsp;</p>

<p>Paradiso Place has been several years in planning by SPG, which has now pushed the green light on construction to meet pent-up demand from investors and owner occupiers.</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=106566 project_image_fid=185858]</p>

<p>The move follows minor amendments to the original design to cater to buyer demand, including the provision of more premium residential amenity, including private dining, lounge and events spaces for residents to entertain guests.</p>

<p>The three towers, comprising 41, 40 and 44 levels, will bring to the market 845 apartments with each tower boasting its own podium level interconnected skybridge to create a unique elevated ‘beachside village’ for residents.</p>

<p>[smartcode_project:default project_id=106566 project_image_fid=362500]</p>

<p>The <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed development will bring a broad range of residences to the market, most offering ocean views and all enjoying five-star hotel amenities with world-class facilities and the convenience ground level retail precinct.</p>

<p>&nbsp;</p>

<p>Construction of Paradiso Place has been made possible by SPG’s newly established SPG Built division partnered with experienced project management group Eastview Australia, a company that has supported the development of a raft of major projects on the Gold Coast over the past two decades.</p>

<p>[smartcode_project:default project_id=106566 project_image_fid=362499]</p>

<p>“It’s a very exciting time for Paradiso Place as we start construction,” said SPG Land Chairman David Wang.</p>

<p>“We have spent our energy refreshing design and assembling the best team and waiting for what we believe is the right time to start construction on one of the most exciting mixed-use developments to proceed on the Gold Coast since Oracle in Broadbeach and Circle on Cavill in Surfers Paradise. &nbsp;</p>

<p>“The local and interstate downsizer market is getting stronger, and we see Paradiso Place as the right project for our times right now. Our company has the capacity to deliver large-scale projects, and we are thrilled to be bringing this vision to reality.”</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=106566 project_image_fid=185861]</p>

<p>SPG Invest, a company founded in Australia in 1998 with a focus on high-end real estate and premium hospitality assets, has delivered 56 projects in the Asia-Pacific region over the past twenty-five years, including The Peninsula Hotel Shanghai and the Global 188 twin-tower project in Suzhou and Cambridge Residences at Robina.</p>

<p>Paradiso Place will deliver a range of new apartments with two-, three- and four-bedroom layouts, as well as a collection of sub-penthouse and penthouse apartments across three levels. Prices start from $950,000.</p>

<p>[smartcode_project:default project_id=106566 project_image_fid=185852]</p>

<p>“We have a very strong vision for Paradiso Place – we are creating a unique beachside residential community where contemporary design &amp; architecture and luxury materials combine with five star residents’ amenities and the convenience of a premium retail precinct on the ground floor”, said SPG Land CEO Dr Ying Rao&nbsp;</p>

<p>“We are confident that the community will recognise that this is more than just another development. Paradiso Place will bring a much-needed retail precinct and lifestyle hub to northern Surfers Paradise with premium retail, lifestyle and food and beverage options,” Said Dr Rao&nbsp;</p>

<p>“The retail precinct is critical to enhancing the lifestyle amenity for residents and guests, so SPG will retain control of this precinct to curate a premium retail offering that will support this thriving new community.</p>

<p>“SPG will also retain short-term holiday letting to control premium and luxury outcomes in line with our vision.”</p>

<p>Construction of Stage 1 Paradiso Place is expected to be completed by end of 2029.</p>

<p>[smartcode_project_cta:default project_id=106566]</p>


Construction commences on $1.5 billion Paradiso Place development in Surfers Paradise

Business Confidence

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<p>EXPERT OBSERVER</p>
<div>Consumer confidence rose +1.2 per cent last week to 93.5, according to ANZ-Roy Morgan, a 13-week high.</div>
<div> </div>
<div>However, confidence levels remain well below the monthly average since 1990 of 112.6, and even still a reading of 93.5 is equivalent to what Australia experienced through the financial crisis. </div>
<div> </div>
<div class="separator"><a href="https://1.bp.blogspot.com/-GiiMRsb3VJI/X2mvvSDoXPI/AAAAAAAA4Yo/M31dOQEtBFQURp1mqYO6ZN2Uj1wL749LwCNcBGAsYHQ/s497/ANZ.jpg"><img src="https://1.bp.blogspot.com/-GiiMRsb3VJI/X2mvvSDoXPI/AAAAAAAA4Yo/M31dOQEtBFQURp1mqYO6ZN2Uj1wL749LwCNcBGAsYHQ/w640-h124/ANZ.jpg" width="640" height="124" data-original-height="96" data-original-width="497"></a></div>
<div> </div>
<div><em>Source: ANZ-Roy Morgan</em></div>
<div> </div>
<div>On March 29 the COVID shock saw consumer confidence reading hit the lowest level in half a century at 65.3, but it has since rebounded by 43 per cent. </div>
<div> </div>
<div>Curiously confidence levels in Melbourne have picked up this week to a level 'a touch below neutral' -  possibly on optimism of restrictions being eased - and confidence levels in Melbourne are now higher than in Sydney. </div>
<div> </div>
<div><strong>RBA update</strong></div>
<div> </div>
<div>The RBA put out some state level payroll jobs figures this week which showed that jobs have been steadily picking up elsewhere, but not in Victoria. </div>
<div> </div>
<div class="separator"><a href="https://1.bp.blogspot.com/-Vb4YsejRGNI/X2mtFAsXk4I/AAAAAAAA4Yc/FRvDK2DZjMA9RCB5W6W_o7i8SS1xxwEZQCNcBGAsYHQ/s861/Payroll.jpg"><img src="https://1.bp.blogspot.com/-Vb4YsejRGNI/X2mtFAsXk4I/AAAAAAAA4Yc/FRvDK2DZjMA9RCB5W6W_o7i8SS1xxwEZQCNcBGAsYHQ/w640-h592/Payroll.jpg" width="640" height="592" data-original-height="795" data-original-width="861"></a></div>
<p>However, the payrolls recovery has stalled this week, and indeed it cannot really take hold until the Victorian economy sees restrictions broadly eased. </p>
<div>Separate analysis from UBS highlighted how small businesses have disproportionately felt the pain this year, and this is reflected in hiring figures relative to large businesses. </div>
<div> </div>
<div>This has raised the prospect of a potential further reduction of interest rates, as discussed today by the RBA’s Guy Debelle.</div>
<div> </div>
<div class="separator"><a href="https://1.bp.blogspot.com/-kqxfc4IZChY/X2nDF25XE6I/AAAAAAAA4ZI/XcoZNYya-YIX9PQpssLf8Kn_DGw_qX8OwCNcBGAsYHQ/s727/AJ.jpg"><img src="https://1.bp.blogspot.com/-kqxfc4IZChY/X2nDF25XE6I/AAAAAAAA4ZI/XcoZNYya-YIX9PQpssLf8Kn_DGw_qX8OwCNcBGAsYHQ/w640-h429/AJ.jpg" width="640" height="429" data-original-height="486" data-original-width="727"></a></div>
<div> </div>
<div>The RBA has now expanded its balance sheet significantly, almost doubling from from $170 billion in February to $300 billion, through its various policy measures. with a further 'decently large' expansion to come. </div>
<div> </div>
<div class="separator"><a href="https://1.bp.blogspot.com/-eZwzPLcqlyc/X2pXB4dYxNI/AAAAAAAA4bM/NlqwEXKdq9kb8vc71h7seJLE4R86aD6QACNcBGAsYHQ/s1457/RBA1.jpg"><img src="https://1.bp.blogspot.com/-eZwzPLcqlyc/X2pXB4dYxNI/AAAAAAAA4bM/NlqwEXKdq9kb8vc71h7seJLE4R86aD6QACNcBGAsYHQ/w640-h370/RBA1.jpg" width="640" height="370" data-original-height="843" data-original-width="1457"></a></div>
<div> </div>
<div>In the money markets swap rates are now at record lows. </div>
<div> </div>
<div class="separator"><a href="https://1.bp.blogspot.com/-AKO7Q4wvkD8/X2pXNbrruuI/AAAAAAAA4bQ/IAE0kGoX9707mn1loIZ6287W93v30zTawCNcBGAsYHQ/s733/MMR.jpg"><img src="https://1.bp.blogspot.com/-AKO7Q4wvkD8/X2pXNbrruuI/AAAAAAAA4bQ/IAE0kGoX9707mn1loIZ6287W93v30zTawCNcBGAsYHQ/w640-h506/MMR.jpg" width="640" height="506" data-original-height="580" data-original-width="733"></a></div>
<div> </div>
<div>Banks are now allowing their offshore funding to roll off, which has reduced the share of offshore bonds funding, and this has been replaced by take-up of the cheaper Term Funding Facility (TFF). </div>
<div> </div>
<div class="separator"><a href="https://1.bp.blogspot.com/-vkhXbLlb_gc/X2pXYv07m7I/AAAAAAAA4bc/1pVnirXTDuIVglV83BEDWOKOTZE1jK0fgCNcBGAsYHQ/s728/Funding.jpg"><img src="https://1.bp.blogspot.com/-vkhXbLlb_gc/X2pXYv07m7I/AAAAAAAA4bc/1pVnirXTDuIVglV83BEDWOKOTZE1jK0fgCNcBGAsYHQ/w640-h536/Funding.jpg" width="640" height="536" data-original-height="609" data-original-width="728"></a></div>
<div> </div>
<div>It's interesting to note that the Chinese economy has come surging back from its 10 per cent decline in the March 2020 quarter, to the extent that its output is now greater than it was at the end of 2019, as targeted stimulus measures have successfully bolstered production.</div>
<div> </div>
<div class="separator"><a href="https://1.bp.blogspot.com/-jeC3WSFTzHg/X2pYjntse5I/AAAAAAAA4bs/iHzmFr0r8tYHBi3sWl4iY4StaSvbA_LSACNcBGAsYHQ/s761/GDP.jpg"><img src="https://1.bp.blogspot.com/-jeC3WSFTzHg/X2pYjntse5I/AAAAAAAA4bs/iHzmFr0r8tYHBi3sWl4iY4StaSvbA_LSACNcBGAsYHQ/w640-h344/GDP.jpg" width="640" height="344" data-original-height="410" data-original-width="761"></a></div>
<div> </div>
<div>Australia has gone down a different route, focusing instead on income support, to the extent that household income actually <em>increased</em> over the previous quarter, which is a very unusual outcome for a recession.</div>
<div> </div>
<div>This was driven by a range of factors including lower interest rates, super withdrawals, mortgage and rent deferrals, and all of the various government stimulus measures (including JobKeeper payments, and JobSeeker). </div>
<div> </div>
<div>No wonder them Harvey Norman shares have come roaring back! </div>
<p><strong>PETE WARGENT</strong><em><span> </span>is the co-founder of AllenWargent property buyers and a best-selling author and blogger </em></p>
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pwargent-M4siyDbqQY

Consumer confidence hits three month high: Pete Wargent

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<p><span>The 2019 March quarter ANZ-</span><span>Property Council survey shows that confidence in Australia’s housing </span><span>sector has fallen further than in 2018 and is now at its lowest level since the survey commenced in 2011.</span></p>
<p>It is not surprising given that many indicators are around their worst levels in many years.</p>
<p>"Housing prices, credit, auction results, days on market and vendor discounts are all weak," the report noted adding there is little sign of improvement.</p>
<p>"The ANZ-Property Council survey is consistent with these other indicators and suggests we are set for an extended period of weakness in the housing sector," it noted.</p>
<p><img src="https://www.urban.com.au/images/2019/1/10/ANZ-Prop%20Counc%20G1.JPG" alt=""></p>
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<p>NSW's property industry confidence has dropped to one of the lowest in the nation, according to the latest ANZ/Property Council Survey.</p>
<p>The largest decline in confidence came in Queensland.</p>
<p><a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a></p>
<p>Property Council NSW Executive Director Jane Fitzgerald said sentiment is down.</p>
<p>"With a state and federal election just around the corner, I don’t think we will see it rebound in the short term despite stronger results in some sectors," she said.</p>
<p>“The industry is facing a lot of uncertainty and change, particularly over the past twelve months.</p>
<p>"We have seen the introduction of Special Infrastructure Contributions, increasing 7.11 levies, the changing of key policies such as the Medium Density Housing Code, the updating of Local Environmental Plans, and the review of approaches to planning in areas such as Ryde – that’s a lot of change for an industry."</p>
<p>“With a flat residential market, there is a real risk that this moving feast of policy changes will have a detrimental effect on economic growth and jobs. The 400,000 people who work in the property industry in NSW rely on a healthy industry for their economic wellbeing," she concluded.</p>
<p>David Plank, the ANZ Head of Australian Economics, said the survey gives a softer reading on the health of Australia’s property sector.</p>
<p>"Survey respondents report that the availability of finance will worsen further over the coming year, which is a central feature of our housing outlook.</p>
<p><img src="https://www.urban.com.au/images/2019/1/10/ANZ-Prop%20Counc%20G2.JPG" alt=""></p>
<p>"In turn, respondents also expect housing prices and construction activity will continue to ease.</p>
<p>"We think prices will fall through to 2020, and expect to see declines <a href="/expert-insights/buying/anz-revise-forecast-upwards-to-20-percent-house-price-declines-in-sydney-and-melbourne">around 15–20% peak to trough</a> for Sydney and Melbourne.</p>
<p>"We also think the decline in housing construction will accelerate through 2019 and 2020, as the current backlog of work is gradually completed.</p>
<p>"The survey also suggests that firms expect the next interest rate movement to be higher, though the conviction in this expectation has dropped from the last survey.</p>
<p>"With risks around global trade tension and questions over the sustainability of domestic household spending, we think any RBA move is still some time off.</p>
<p>"Overall, though, the forward work schedule is solid and employment intentions are holding up.</p>
<p>"But clearly sentiment in the property sector is being challenged by a number of significant headwinds.," Plank said.</p>
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j.ballantyne1990-6AQqhLzZaK

Little sign of optimism in the residential sector as confidence falls to lowest levels: ANZ/Property Council

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<p>Business confidence in the WA property sector has climbed to its highest level since 2014, according to the ANZ/Property Council Survey for the June quarter 2017, which revealed a 20-percentage point increase in the confidence index.</p>
<p>“These results point to an economic turnaround in WA led by proposed investments by non-mining businesses,” Property Council WA Executive Director Lino Iacomella said.</p>
<p>“The improvement in industry confidence is due to expectations that improved national economic growth will flow to WA, and a lift in forward work schedules and staffing numbers. </p>
<p>A raft of major projects is proposed in WA, including shopping centre expansions, hotels and new infrastructure such as the Forrestfield-Airport Link.</p>
<p>The retail and retirement living sectors continue to lead the way with continued growth expectations.</p>
<p>Other sectors in the property industry are continuing to show declining growth expectations, however the outlook has improved with house price growth expectations close to stabilising. </p>
<p>The property industry is looking forward to working with the new McGowan state Government to progress economic reforms, fast-track infrastructure planning and cut red-tape to ensure the major construction projects proposed for WA get off the ground,” Mr Iacomella said.</p>
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Confidence returning to WA property industry

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<p>GUEST OBSERVER</p>
<p>The December NAB business survey showed business confidence remaining reasonable at +6 and businessconditions improving significantly to a strong reading of +11.</p>
<p>The bounce in conditions reflected strength in trading, profits and new orders.</p>
<p>Business continues to remain more confident than are consumers, but the rebound in business conditions adds to confidence that the September quarter downturn in GDP reversed in the December quarter.</p>
<p class="x_MsoNormal"><a href="https://www.propertyobserver.com.au/images/2017/02/01/image006.png" target="_blank">Click to enlarge</a></p>
<p class="x_MsoNormal"><img src="https://www.urban.com.au/images/2017/02/01/image006.png" alt=""></p>
<p class="x_MsoNormal">Source: Westpac, NAB, AMP Capital</p>
<p class="x_MsoNormal">Meanwhile, private credit rose a stronger than expected +0.7 percent <span id="0.6023802033159882" class="highlight">in</span> December or 5.6 percent year on year. </p>
<p class="x_MsoListParagraph">The <span id="0.19327247748151422" class="highlight">bounce</span> <span id="0.08058031392283738" class="highlight">in</span> credit growth from +0.5 percent mom <span id="0.4836013962049037" class="highlight">in</span> November was driven by stronger <span id="0.4131828281097114" class="highlight">lending</span> <span id="0.2442040389869362" class="highlight">to</span> <span id="0.799539064290002" class="highlight">business</span>es, which is potentially a good sign. </p>
<p class="x_MsoNormal">While housing credit growth was unchanged at 0.5 percent/mom or 6.3 percent/yoy <span id="0.3568573796655983" class="highlight">in</span> December, what is concerning is a continued deceleration <span id="0.41784490551799536" class="highlight">in</span> owner occupier housing credit (<span id="0.5229188892990351" class="highlight">to</span> +0.4 percent/mom) relative <span id="0.9022720851935446" class="highlight">to</span> <span id="0.7141850041225553" class="highlight">in</span>vestor credit (which rose +0.8 percent/mom). Over the last three months <span id="0.3730766784865409" class="highlight">in</span>vestor housing credit rose at an annual rate of 9 percent <span id="0.8393944983836263" class="highlight">and</span> is now rapidly approaching APRA’s 10 percent threshold.</p>
<p class="x_MsoNormal">It is <span id="0.8709192702081054" class="highlight">in</span>creasingly clear that the dampening impact of APRA’s 2015 macro prudential tightening has worn off <span id="0.09559610136784613" class="highlight">to</span> a significant degree. With household <span id="0.3539372014347464" class="highlight">in</span>come growth <span id="0.7710073834750801" class="highlight">in</span> the economy running well below 10% yoy <span id="0.07574582751840353" class="highlight">and</span>the Sydney <span id="0.6721861795522273" class="highlight">and</span> Melbourne <span id="0.8575597342569381" class="highlight">property</span> markets <span id="0.7601068657822907" class="highlight">continuing</span> <span id="0.8739038927014917" class="highlight">to</span> run <span id="0.9272325034253299" class="highlight">to</span>o hot <span id="0.6534713262226433" class="highlight">in</span> the face of ultra-low <span id="0.46389276324771345" class="highlight">in</span>terest rates there remains a case for APRA <span id="0.7982982180546969" class="highlight">to</span> further lower the 10 percent growth threshold for <span id="0.04621078143827617" class="highlight">property</span> <span id="0.7070795088075101" class="highlight">in</span>vestor credit.</p>
<p class="x_MsoNormal"><a href="https://www.propertyobserver.com.au/images/2017/02/01/image009.png" target="_blank">Click to enlarge</a></p>
<p class="x_MsoNormal"><img src="https://www.urban.com.au/images/2017/02/01/image009.png" alt=""></p>
<p class="x_MsoNormal"> </p>
<p class="x_MsoNormal"><em><span><a href="https://www.propertyobserver.com.au/https://plus.google.com/110172465327488162875?rel=author" target="_blank">SHANE OLIVER</a></span> is head of investment strategy and economics and chief economist at <a href="https://www.ampcapital.com.au/home" target="_blank">AMP Capital</a> and is responsible for AMP Capital's diversified investment funds.</em></p>
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