<p>Lendlease’s Barangaroo South precinct is officially complete, marking the culmination of a 15-year urban regeneration project that has revitalised Sydney’s harbourfront.&nbsp;</p>

<p>In 2009, the NSW Government’s Barangaroo Delivery Authority appointed <a href="https://www.apartments.com.au/developers/lendlease-development">Lendlease</a> as developer to transform what was once an inaccessible container port on the western edge &nbsp;of Sydney’s CBD into one of the city’s most thriving mixed-use destinations. Today, Barangaroo South is home to more than 1,800 residents, 23,000 workers, 95 retailers and welcomes 33,000 visitors each day. The precinct stands as an international benchmark for large-scale urban regeneration.&nbsp;</p>

<p>International Towers Sydney, the three flagship commercial buildings at the centre of &nbsp;Barangaroo South, together with engineered timber buildings Daramu House and &nbsp;International House, attracted major corporate tenants from the outset, including Westpac, &nbsp;PwC and KPMG, who are still there today. These workplaces remain some of the most &nbsp;sought after in Sydney’s CBD with over 95 per cent occupancy– a testament to the appeal of world-class, modern infrastructure alongside the precinct’s dining and entertainment that &nbsp;are a drawcard for businesses.&nbsp;</p>

<p>One Sydney Harbour, the three luxury residential towers designed by world-renowned architect Renzo Piano, has achieved more than $4 billion in sales since its launch in 2019, while setting new Australia property price records. This includes the three-level penthouse that crowns Residences One which sold for more than $141 million in 2019 – the most expensive individual residential property ever sold in Australia. &nbsp;</p>

<p>[smartcode_project:default project_id=139801 project_image_fid=349150]</p>

<p>Barangaroo South is also Australia’s first mixed-use carbon-neutral development, an accolade achieved through energy-efficient and innovative infrastructure, including a district cooling plant with a harbour water heat rejection system, a recycled water &nbsp;treatment plant, onsite solar and an embedded electricity network.</p>

<p>The precinct has maintained its Climate Active Carbon Neutral certification since 2019, affirming its &nbsp;reputation as the gold standard in large scale, sustainable urban renewal. Additionally, its &nbsp;world leadership status has been validated by the Green Building Council of Australia’s &nbsp;6 Star Green Star Communities recertification (Pilot v.2).</p>

<p>[smartcode_project:default project_id=139801 project_image_fid=349157]</p>

<p>First Nations cultural values were embedded throughout the planning and delivery of the project. The precinct honours Barangaroo, a prominent First Nations woman, through its &nbsp;name. Public art, street names, and design elements across the precinct reflect and &nbsp;celebrate First Nations cultures and connections to Country.&nbsp;</p>

<p>The project's completion positions Barangaroo South as a legacy urban transformation delivered through long-term partnerships and world-leading urban regeneration and placemaking capabilities. &nbsp;</p>

<p>[smartcode_project:default project_id=139801 project_image_fid=349154]</p>

<p>Tony Lombardo, Group CEO Lendlease, said&nbsp;Barangaroo South represents one of the most significant urban regeneration projects in Australia.</p>

<p>"[It] demonstrates what can be achieved through an ambitious vision, innovative placemaking, long-term commitment and strong partnerships. The precinct has changed the face of Sydney's waterfront, established new benchmarks &nbsp;for sustainable development, and provided a model for urban regeneration that continues &nbsp;to inform our approach to creating places that deliver long-lasting value.”&nbsp;</p>

<p>Tom Mackellar, CEO Development Lendlease, said&nbsp;Barangaroo South has reconnected the city to its harbour in a way that seemed unimaginable 15 years ago and turned it into a thriving precinct where people can live, work and gather on the harbour’s edge.&nbsp;</p>

<p>“This precinct is the result of countless contributions, led by the NSW Government who set the ambition, supported by investment partners who believed in Lendlease’s vision, imagined by architects and designers, shaped by consultants and artists, and brought to &nbsp;life by our dedicated construction teams. &nbsp;</p>

<p>“What we’ve created here is more than buildings – it’s the best of placemaking, sustainability, arts and culture and quality design. Barangaroo South has become an integral part of Sydney that will serve our city and economy for generations.”</p>


Staff Writer

Barangaroo South’s 15-year transformation of  Sydney’s waterfront officially complete

<p>CBE Asia Pacific has lodged plans for a prominent corner site in Fitzroy North, with a proposal that integrates state-significant affordable housing alongside heritage adaptation and new retail.</p>

<p>The application covers a consolidated 2,024 sqm parcel at 201–215 Queens Parade and 6–12 Dummett Crescent. The site includes the heritage-listed Former Clifton Motor Hill Garage, fronting Queens Parade, and vacant land to the rear abutting Dummett Crescent.</p>

<p>According to planning documents prepared by proUrban, the proposal seeks approval for a 12-storey residential building comprising 98 apartments, including a component of affordable housing, over a ground floor retail podium integrated within the heritage structure. Approximately 780 sqm of retail space will occupy the ground floor, while residents will have access to over 850 sqm of communal amenity.</p>

<p>The built form presents as two connected volumes: a 12-storey tower addressing Dummett Crescent and a five-storey volume fronting Queens Parade, the latter consistent with a separate Heritage Victoria permit granted in 2023. The tower reaches a maximum height of 38.26 metres, with upper-level setbacks of 14 metres from the western boundary to reduce visual bulk. A 1.5-metre footpath widening is proposed to Dummett Crescent Lane.</p>

<p>Parking is provided across four basement levels, accessed via Dummett Crescent, with a total of 142 car spaces and 143 bicycle spaces.</p>

<p>The architectural response by <a href="https://www.apartments.com.au/architects/cht-architects">CHT Architects</a> is framed by a need to reconcile new density with a sensitive heritage overlay. The Former Clifton Motor Hill Garage, identified as a place of State heritage significance, will retain its key façades, with demolition and reconstruction limited to approved elements.</p>

<p>As noted in the Heritage Impact Assessment, the proposal remains consistent with the Heritage Victoria permit, which allows "partial demolition, reconstruction and new works, involving the construction of a five-storey multi-use development and three basement levels".</p>

<p>Affordable housing has been embedded into the proposal under Clause 53.23, with specific apartment allocations aimed at enhancing housing diversity within the Queens Parade Activity Centre.</p>

<p>"The proposal is generally consistent with the relevant policy objectives and the intent of the Yarra Planning Scheme," proUrban states in its planning assessment, citing its alignment with strategic documents including Plan Melbourne and Victoria’s Housing Statement.</p>

<p>CHT Architects' plans emphasise a tiered design that acknowledges the site's varied interfaces—from the elevated Heidelberg Road ramp reserve to the recently built Clifton Views aged care facility to the north-east.</p>

<p>CBE Asia Pacific has not been previously active in this precinct, but the project joins a wave of higher-density residential proposals along the Queens Parade corridor, spurred by Melbourne’s broader push to increase affordable housing in well-connected inner-urban areas.</p>

<p>The site benefits from direct access to the Queens Parade tram corridor and proximity to Clifton Hill Station (approximately 200 metres), as well as green open spaces including Mayors Park and Raines Reserve. Clifton Hill Primary School and the Queens Parade retail village lie within walking distance.</p>


First look: CBE Asia Pacific plans 100-apartment Jenkin House on Queens Parade, Fitzroy North

<p>ALT Pasta, one of Melbourne’s most beloved inner-city pasta bars, has been confirmed as one of the first tenancies for the highly anticipated <a href="https://www.apartments.com.au/new-apartments/comme-prahran-182-194-commercial-road-prahran-vic-3181">Comme Prahran</a> development, marking an exciting next chapter for the cult favourite as it prepares to expand into the heart of <a href="https://www.apartments.com.au/developments/prahran-vic-3181">Prahran</a>.</p>

<p>Fresh off being named National Best Italian Restaurant at the 2025 Restaurant &amp; Catering Hostplus Awards for Excellence, ALT continues to solidify its reputation as a quietly confident leader in Melbourne’s dining scene. Lauded for its reinterpretation of Italian pasta through a Korean and Japanese lens, the restaurant has grown into a staple since opening three years ago, and its new Prahran outpost will only deepen its local impact.</p>

<p>“From the very beginning, ALT has been about respect - for tradition, for ingredients, and for the process,” shares Mino Han, ALT’s founder, a Korean-Australian chef whose vision is shaped by cultural duality and craftsmanship.&nbsp;</p>

<p>“We’re not trying to reinvent the wheel, just make something beautifully familiar, feel quietly special,” added Han.</p>

<p>[smartcode_project:default project_id=108413 project_image_fid=353585]</p>

<p>Positioned at the entrance to Comme Prahran and directly opposite the iconic Prahran Market, the new venue will celebrate the interplay between casual comfort and elevated detail. Designed in collaboration with Rooftop Architecture, the same team behind ALT’s flagship city location, the space will mirror the neighbourhood’s laid-back energy while staying true to the brand’s understated refinement.</p>

<p>Diners can expect a frequently changing menu that takes advantage of the market’s daily produce, along with set menu offerings exclusive to this location. A distinctive chef’s table and open kitchen format are also in the works, allowing guests to experience ALT’s signature intimacy and transparency in a new light.</p>

<p>ALT Prahran won’t replace the original venue; rather, it complements it.</p>

<p>“Our city site is like our heritage bottle; it’ll age gracefully. Prahran is where we’ll play, explore new ingredients, and bring something special to the community,” Mino notes.</p>

<p>[smartcode_project:default project_id=108413 project_image_fid=353584]</p>

<p>For Comme Prahran, a boutique development by Leeka that blends heritage with multi-dimensional wellness, ALT Pasta’s arrival signals a meaningful addition to its vision of cultural connection, food-first living, and local engagement.</p>

<p>“Being part of Comme is more than just opening a second venue. It’s about contributing to a neighbourhood with character, history, and a strong sense of community. That’s something we deeply relate to,” says Mino.</p>

<p>Sustainability and cultural identity are deeply embedded in the ethos of ALT. From ingredient sourcing to interior design, the new location will reflect both environmental mindfulness and a spirit of inclusion, embodying the values of Melbourne’s diverse, forward-thinking culinary scene.</p>

<p>Comme Prahran is scheduled for completion in late 2027, with ALT Pasta expected to be among the first tenancies to open its doors shortly after.</p>

<p>[smartcode_project_cta:default project_id=108413]</p>


National best Italian restaurant ALT Pasta to open at Comme Prahran, bringing refined familiarity to Melbourne’s culinary heart

National BEST Italian restaurant ALT Pasta to open at Comme Prahran

<p><span id="cke_bm_2771S" style="display: none;">&nbsp;</span>Boutique development and construction firm Ryser has filed plans for its debut apartment building.</p>

<p>Ryser, founded by Jonthan Ryan and Wil Prosser, has sought to develop <a href="https://www.apartments.com.au/new-apartments/sorelle-4a-fern-place-woollahra-nsw-2025">Sorelle</a>, 28 new apartments at 4a Fern Place, Woollahra.</p>

<p>The&nbsp;750 sqm site on the edge of Bondi Junction falls within the Grafton Precinct Heritage Conservation Area, though it is currently vacant and not identified as a contributory item.&nbsp;</p>

<p><a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> has been commissioned to design Sorelle, creating an eight and a nine-storey building with six apartments dedicated to affordable housing to support essential workers&nbsp;under the NSW Government’s low and mid-rise housing policy.</p>

<p>The dwelling mix includes 12 one-bedroom units, six one-bedroom affordable units, six two-bedroom units, and four three-bedroom residences.<img alt="4A Fern Place, Woollahra." data-entity-type="file" data-entity-uuid="86626941-772d-49c5-8d31-a8e42f44cdcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Fern%20bldg%20st.png?VersionId=tWIzXYX9gD60nP1L3..Z0BFbY5mafb36" /></p>

<p>According to the planning documents submitted to the Woollahra Council, the development responds to the complex interface of heritage fabric and urban infrastructure with two mid-rise residential buildings oriented to the north and designed to capitalise on sweeping views over Sydney Harbour and Bellevue Hill.&nbsp;</p>

<p>“The proposal aims to hero some of the brick detailing of Woollahra, celebrating the existing datums of Fern Place, whilst embracing the strong verticals of the Holy Cross Church and Bondi Junction with a nod to the historic iron works and iron rich soils of the area,” Woods Bagot noted in their Design Report.</p>

<p>&nbsp;</p>

<p>Only three car parking spaces are proposed, alongside 33 bicycle bays, in a move that leverages the site's proximity to Bondi Junction train station, just 400 metres away.</p>

<p>Architecturally, the material palette incorporates Corten steel and face brickwork to reference the site’s industrial past and local geological character. Landscaping features include a communal garden bridging the two buildings at ground level, landscaped setbacks to protect visual privacy, and a small corner park intended to soften the public interface.</p>

<p><img alt="4A Fern Place, Woollahra." data-entity-type="file" data-entity-uuid="f71766d6-aa14-44df-9bc5-42f91890fd4a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Fern%20bldg%20rear.png?VersionId=uh7u1rJ6NJF5OqyRs9iNJcy6R9ssgaXU" /></p>

<p>Ryser said Sorelle "brings together the best of both worlds, the intimacy of village life with the amenity and luxury of modern design."</p>

<p>The developer said the project marks the first of three developments they will be announcing shortly, a key step in their&nbsp;evolution as a builder-developer delivering meaningful, high quality urban outcomes across Sydney.</p>

<p>The expectation is the Woollahra LGA will become popular for developers with the signal from the NSW Government they will deliver&nbsp;<a href="https://www.apartments.com.au/developments/sydney-nsw" target="">Sydney</a>’s first new heavy rail station in more than a decade – enabling up to 10,000 new homes by rezoning land around&nbsp;<a href="https://www.apartments.com.au/developments/woollahra-nsw-2025" target="">Woollahra</a>&nbsp;and&nbsp;<a href="https://www.apartments.com.au/developments/edgecliff-nsw-2027" target="">Edgecliff</a>&nbsp;stations.</p>

<p><em>Read more:&nbsp;</em><a href="https://www.apartments.com.au/news/nsw/next-stop-woollahra-train-station-delivering-up-to-10-000-new-homes-in-the-heart-of-sydney"><em>Next stop Woollahra train station - delivering up to 10,000 new homes in the heart of Sydney<span id="cke_bm_2771E" style="display: none;">&nbsp;</span></em></a></p>


Joel Robinson

First look: Ryser plans two apartment buildings on Woollahra, Bondi Junction border

<p>ASX-listed developer <a href="https://www.apartments.com.au/developers/cedar-woods" target="">Cedar Woods</a> didn’t miss a beat when the opportunity arose to acquire a prime residential development site in one of Perth’s most popular suburbs. In 2019, the developer secured the former Wembley TAFE site, a 1.4-hectare parcel perfectly positioned on the western edge of <a href="https://www.apartments.com.au/developments/subiaco-wa-6008" target="">Subiaco</a>’s vibrant centre.</p>

<p>The first stage, <a href="https://www.apartments.com.au/new-apartments/incontro-subiaco-133-salvado-road-subiaco-wa-6008">Incontro Townhomes</a>, delivered 41 contemporary homes that embrace the suburb’s unique blend of nature and urban energy. Now, Incontro Apartments continues that story, offering a collection of new residences in a market limited with new residential stock. The rarity of a development in such a prime pocket hasn't been lost on buyers, with more than 60 per cent already sold in the early stages of construction.</p>

<p>[smartcode_project:default project_id=108869 project_image_fid=317909]</p>

<p>Set on the tree-lined Bishop Street, in a quiet pocket within Western Subiaco, Incontro Apartments offers convenient access to several lush parks and recreation spots.&nbsp;</p>

<p>Within the estate is Incontro’s Little Green, a linear park that connects the Incontro townhome precinct with the future apartment building. This peaceful stretch of landscaped parkland features shaded seating and communal spaces for residents to relax and interact close to home.&nbsp;</p>

<p>Less than 400 metres away is find Henderson Park, a perfect spot for morning walks, weekend picnics or casual exercise. Neighbouring Henderson Park is Mabel Talbot Park, home to Jolimont Lake and a playground, while just a little further lies Pat Goodridge Park, offering a large sports field and another playground.&nbsp;</p>

<p>[smartcode_project:default project_id=108869 project_image_fid=325604]</p>

<p>For something closer to home, Subiaco Common provides a peaceful green retreat right on your doorstep - ideal for reading under the trees, walking the dog or relaxing with friends.</p>

<p>Beyond the parks and open spaces, Incontro residents are just moments from everything that makes Subiaco such an enviable place to live.&nbsp;</p>

<p>Down the road is Bishop Street Café, a local favourite for a morning caffeine fix. Subiaco’s Rokeby Road and Hay Street are lined with retailers, cafés, vibrant bars and some of Perth’s most loved dining spots, from long lunches at Refuge Small Bar or Juanita’s, to weekend brunch at Community Coffee Co. or Boucla Café. Add to that a strong sense of local community, regular markets, and the energy of Subiaco Square, and it’s easy to see why Subiaco continues to be one of Perth’s most liveable and in-demand suburbs.</p>

<p>[smartcode_project:default project_id=108869 project_image_fid=325605]</p>

<p>Construction of Incontro Apartments is now underway by <a href="https://www.apartments.com.au/builders/emco-building">EMCO Building</a>. With completion expected in mid-2027, buyers have the chance to join a thriving Subiaco community in the not-too-distant future. &nbsp;</p>

<p>One-bedroom apartments are now sold out, with only a selection of two-bedroom apartments and just three three-bedroom residences remaining. Each features generous layouts, stylish finishes and private balconies to enjoy the leafy outlook that makes this Subiaco address so special. Prices start from $925,000*.</p>

<p>[smartcode_project_cta:default project_id=108869]</p>


Over 60 per cent sold as Incontro Apartments captures Subiaco’s leafy appeal

Business Confidence

<html><body>
<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>
</body></html>

pwargent-M4siyDbqQY

Consumer confidence hits three month high: Pete Wargent

<html><body>
<div class="page" title="Page 2">
<div class="section">
<div class="layoutArea">
<div class="column">
<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>
</div>
</div>
</div>
</div>
<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>
</body></html>

j.ballantyne1990-6AQqhLzZaK

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

<html><body>
<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>
</body></html>

Confidence returning to WA property industry

<html><body>
<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>
<p class="x_MsoNormal"> </p>
</body></html>

Business Confidence

Editor's Picks

Have something to contribute?

The latest real estate & off the plan properties & news, delivered to your inbox.

Developments

New apartments

New townhouses

News

The latest real estate & off the plan properties & news, delivered to your inbox.

Business Confidence

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

The latest real estate & off the plan properties & news, delivered to your inbox.

Developments

New apartments

New townhouses

News

The latest real estate & off the plan properties & news, delivered to your inbox.