Castle Hill’s booming development market is set for another boost, with builder-developer Buildex proposing a new mid-rise apartment building near Castle Towers.

Buildex has submitted plans to The Hills Shire Council for a <a href="https://www.apartments.com.au/new-apartments/197-old-northern-road-castle-hill-nsw-2154">nine-storey building comprising 57 apartments</a> on Old Northern Road. The company acquired two adjoining sites earlier this year, totalling more than 2,683 sqm.

Texco Design has prepared the scheme, which includes five one-bed plus study apartments, 37 two-bedrooms, and 15 three-bedrooms.

Castle Hill has become a hotspot for developers in recent years, undergoing significant transformation driven by the opening of the Hills Showground Precinct to development and the introduction of two metro stations servicing the suburb.

Developers including Deicorp and Kassis Homes have already completed projects, and are progressing future developments, while Meriton, Arada, and Ellipse are currently delivering new projects in the rapidly evolving area.

Staff Writer

First look: Buildex plans 57 apartments near Castle Towers

Gold Coast developer&nbsp;<a href="https://www.apartments.com.au/developers/immerse-projects">Immerse Projects</a>&nbsp;has unveiled what it intends to deliver at its recently acquired Toowong site, its debut apartment development in Brisbane.

Immerse, founded by John Kearney who is also the founder of regarded construction company Greyburn, secured the prime Sylvan Road site <a href="https://www.apartments.com.au/news/qld/first-look-immerse-projects-moves-into-brisbane-apartment-market-with-toowong-site-acquisition">earlier this year</a>, in an area which has historical significance to Kearney who&nbsp;studied at the nearby University of Queensland.

"It feels like a full circle moment," Kearney told&nbsp;<a href="https://www.apartments.com.au/" target="">Apartments.com.au</a>.&nbsp;

“I spent many nights at the Regatta Hotel just down the road, as have most people in&nbsp;<a href="https://www.apartments.com.au/developments/brisbane-qld" target="">Brisbane</a>. It’s one of the city’s most well-known hotels, and with several cafes, restaurants, and a CityCat stop nearby, it’s become an even more attractive place to live.”

He is planning a <a href="https://www.apartments.com.au/new-apartments/22-24-sylvan-road-toowong-qld-4066">15-storey project with 88 apartments</a> above an activated ground plane with a shop and hospitality spaces.

<img alt="Toowong podium" data-entity-type="file" data-entity-uuid="c350436b-9d64-46cc-ab6f-defc009e1b65" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium_0.png?VersionId=zt7A0_14M62TkZ61YHnGmEck9KM9HqDA" />

The architecture, led by <a href="https://www.apartments.com.au/interior-designers/bda-architecture">BDA Architecture</a>, presents a tower massing that responds to the area's evolving mid-rise context. The scheme incorporates podium and rooftop communal spaces, while the commercial elements aim to activate the Sylvan Road frontage and enhance the site's interface with the adjacent parkland.&nbsp;

Landscaping plans by Ivy May Landscape Architects include subtropical planting and deep soil zones to support stormwater management and visual integration.

Supporting documentation from Mewing Planning Consultants notes that "the proposed development will deliver a mixed-use outcome that enhances the vibrancy of the Sylvan Road corridor" and highlights its proximity to high-frequency public transport and community facilities.

<img alt="First look: Immerse Projects moves into Brisbane apartment market with Toowong site acquisition" data-entity-type="" data-entity-uuid="" src="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/22-24%20Sylvan%20%20Rd%20Toowong_Markups.jpg?VersionId=u4_IGzpYLPFfAZSsgCZynov3bm7umwJ." />

&nbsp;

There's been little new apartment development in Toowong in recent years. The most notable is Consolidated Properties two-tower Monarch Residences, which is approaching completion with nearly all of its 224 residences sold.

Kearney describes&nbsp;<a href="https://www.apartments.com.au/developments/toowong-qld-4066" target="">Toowong</a>&nbsp;as a suburb with real depth.

"The suburb attracts everyone, from students to retirees, and that's what makes it interesting."

Joel Robinson

First look: Immerse Projects reveals debut Brisbane apartment development in Toowong

<a href="https://www.apartments.com.au/developers/hyecorp-property-group">Hyecorp</a> is down to its final three-bedroom apartments at Audrey, the developer’s parkside St Leonards South project, pairing the remaining homes with a limited-time offer.

The developer is extending a five per cent deposit and a $50,000 settlement rebate on selected apartments, aiming to help owner-occupiers secure one of the final homes ahead of move-in in early 2026.

[smartcode_project:default project_id=110379 project_image_fid=311393]

Located on Canb​erra Avenue opposite Newlands Park, <a href="https://www.apartments.com.au/new-apartments/audrey-st-leonards-13-19-canberra-avenue-st-leonards-nsw-2065">Audrey</a> comprises 102 residences, including a mix of three-bedroom residences and a double-storey, five-bedroom terrace with two outdoor areas.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a> and delivered by <a href="https://www.apartments.com.au/builders/north-shore-property-construction">North Shore Property Construction</a>, the project reflects Hyecorp’s focus on owner-occupier planning, with open-plan layouts, extensive storage integration, and a material palette built around stone, oak timber flooring and bespoke joinery. Many of the three-bedroom apartments capture views toward the city and Harbour Bridge.

[smartcode_project:default project_id=110379 project_image_fid=207373]

Hyecorp’s internal design team, Jackson Teece, has emphasised a consistent level of specification across the building, including Miele appliances, integrated refrigeration, brushed metal tapware and large-format stone detailing that conceals cabinetry.

The Tiffany Collection, crowning the development on Levels 12 to 15, features added luxury of fluted standalone baths, heated bathroom floors, custom walk-in robes and upgraded appliance packages across its spacious 155 to 159 sqm homes.

[smartcode_project:default project_id=110379 project_image_fid=301367]

Beyond the private residences, Audrey carries a strong amenity focus. Residents have access to an indoor lap pool and spa, personal training studio, private cinema, music room and private dining room.

A landscaped rooftop terrace with CBD views anchors the communal offering, complemented by an onsite café and an integrated daycare centre within the project.

[smartcode_project:default project_id=110379 project_image_fid=198680]

The location continues to be a drawcard for buyers, with new retail additions at Mall 88, including Coles, alongside Woolworths and the established offerings of Forum Plaza. St Leonards Station and Crows Nest Metro is within easy reach, as are local health precincts such as the Royal North Shore Public and Private Hospitals. Nearby green spaces include Newlands Park, Gore Hill Oval and Naremburn Park, supporting strong day-to-day amenity for families and downsizers alike.

Hyecorp is expected to welcome residents to Hyecorp in early 2026.

[smartcode_project_cta:default project_id=110379]

Audrey St Leonards nears completion – settlement bonus now available

<a href="https://www.apartments.com.au/developers/freecity">Freecity</a>&nbsp;has been given the green light to develop its flagship mixed-use project in the Crows Nest metro precinct.

The NSW Government's Housing Delivery Authority approved the 40-storey tower, aligning with the NSW Government's Transport Oriented Development (TOD) agenda to deliver more homes in highly connected, high amenity locations.

The $600 million tower, at 378-398 Pacific Highway, will comprise 178 apartments with resident amenities, two levels of commercial offices, and a curated retail offering. Freecity will also dedicate a 10 percent Affordable Housing Contribution, supporting the Governments broader housing objectives.

<img alt="Freecity Crows Nest" data-entity-type="file" data-entity-uuid="4de9b03b-e8aa-4929-b3f1-6747acbe6b73" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Freecity%20Crows%20Nest%20Project.jpg?VersionId=oWwFWxGj_oUFEYX4j_qRFdSzcShLw3DG" />

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the tower will offer a diverse residential mix, from one-bedroom homes to expansive four-bedroom penthouses, all crafted to maximise light, views and liveability.

Lawrence Zheng, Co-Founder and Joint CEO of Freecity Group, said the approval represents a significant step forward for both Crows Nest and Freecity.

"We are proud to be delivering a landmark project that brings new homes, new amenity and new economic activity to one of Sydney’s most strategically connected locations,"&nbsp;Zheng said.

"With our $6 billion pipeline of 12 mixed-use projects, this development reinforces Freecity’s commitment to helping deliver the housing supply and transport-integrated precincts the Government is championing.”

Michael Romano, Executive Director of Development, said the companies focus is on "creating places that genuinely enhance how people live day to day - communities that balance accessibility, amenity and neighbourhood vibrancy.”

“This project reflects the future of urban living - design led, highly liveable and seamlessly connected to the city’s major transport, employment and education hubs. Being directly opposite the Crows Nest Metro means residents can access the best of Sydney with unrivalled convenience."

&nbsp;

Freecity secures approval for Crows Nest metro precinct tower

The Bedford by Mosaic marks the culmination of a near-decade journey for South East Queensland’s most active developer.

Mosaic Founder and CEO, Brook Monahan, said the company first identified the prime Prospect Street, Kangaroo Point site in 2016 as an A-grade opportunity they were eager to secure. They almost bought it at the time, before it was ultimately acquired by Woolworths’ development arm, Fabcot.

The opportunity resurfaced late last year when the site, vacant for nearly three decades, was offered for sale again.

Backed by years of history, feasibility research, and detailed product planning for the 3,195 sqm corner site, Mosaic was able to move swiftly. The Bedford by Mosaic is now proving a clear market success, unsurprising given the depth of work the developer had undertaken on the location and potential density mix well before they owned the land.

Active across both Brisbane and the Gold Coast, and with a development pipeline more than $2 billion, Mosaic has already sold 90 per cent of apartments in what has become the area’s most significant residential addition in more than a decade.

[smartcode_project:default project_id=134792 project_image_fid=328119]

Designed by BDA Architecture, The Bedford comprises 128 two- and three-bedroom apartments, including the Masterpiece Series Skyhomes across the top two levels. These residences offer the largest floorplans and the best views over the river and city. Premium inclusions—such as natural stone benchtops, bespoke cabinetry, and Miele appliances, feature in every apartment, not just the top-tier offerings.

A defining feature of The Bedford is its integrated mixed-use component, set to deliver Kangaroo Point’s first Woolworths supermarket, along with a café and liquor store, bringing long-awaited convenience to the peninsula.

[smartcode_project:default project_id=134792 project_image_fid=355673]

Residents will also enjoy one of Brisbane’s most comprehensive amenity collections. Dubbed the Rooftop Recreation &amp; Retreat Sky Terrace, the wellness-focused spaces include a resort-style pool with sun deck, an indoor/outdoor gym, spa, sauna, steam room and cold plunge.

Additional amenities include a residents’ lounge and relaxation zones, a private dining room with kitchen, barbecue areas, landscaped gardens, an outdoor viewing deck capturing city and river views, and a bookable golf simulator.

[smartcode_project:default project_id=134792 project_image_fid=355681]

The remaining residences at The Bedford span the upper levels of the building and include two- and three-bedroom floorplans, which start from $1,645,000.

Mosaic's in-house building arm has already commenced construction on The Bedford. They estimate a late 2027 completion.

[smartcode_project:default project_id=134792 project_image_fid=328121]

Monahan notes that Mosaic’s most successful projects often begin years before the first plans are drawn. Their new South Brisbane development is no exception, initially making it onto their radar in 2018.

“We aren’t opportunistic,” Monahan says. “Every site purchase is well considered and thought out. As seen with Kangaroo Point and South Brisbane, it can take years to eventuate. There are sites we are looking at now that we might not secure for several years.”

Mosaic is set to launch its new South Brisbane project&nbsp;in the next year, while its latest Gold Coast development,&nbsp;<a href="https://www.apartments.com.au/new-apartments/josephine-by-mosaic-166-the-esplanade-burleigh-heads-qld-4220">Josephine</a>, is coming soon to Burleigh Heads.

[smartcode_project_cta:default project_id=134792]

A decade in the making: Mosaic's long-awaited success story at The Bedford, Kangaroo Point

Dividends

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Banks may increase variable mortgage rates to recoup pandemic-induced losses despite a stagnant cash rate, according to experts.  In this month's <a href="https://www.finder.com.au/rba-cash-rate" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">Finder RBA Cash Rate Survey</a>, all the experts surveyed expect a cash rate hold in September (40/40), more than half of those who weighed in (57%, 16) believe that banks will raise their variable mortgage rates despite the Reserve Bank indicating that the cash rate will remain motionless for some time.
Another course of action the banks took is, earlier in August, Westpac and ANZ announced that they are cutting or deferring dividends to shore up company profits.
The majority of economists who weighed in (88%, 22) believe that the nation’s other big banks will soon follow suit by slashing dividends or removing them altogether.
Cooke said that banks are taking a cautious approach as we enter a period of economic uncertainty.
“Banks are slashing shareholder dividends in an attempt to mitigate the financial disruption caused by the virus."
“This won’t come as welcome news for existing shareholders, but many investors will be seeing these plunging share prices as a great opportunity to buy discounted stocks,” he said.
Economic sentiment spikes
Finder’s Economic Sentiment Tracker, which gauges five key indicators – housing affordability, employment, wage growth, cost of living and household debt– shows a significant increase in overall economic sentiment since its lowest point in March 2020, rising from 8% to 24% in August
<img src="https://mcusercontent.com/cc5e9bce699fa1d71a67cf499/images/232c13b1-5dcf-4681-b36f-67bd31c9a816.png" data-imagetype="External"> Despite the uncertainty regarding the virus, more than half (57%, 20) of respondents believe that Australia will see GDP growth in 2020.  Leanne Pilkington of Laing+Simmons said Australia has been able to weather the economic storm of coronavirus better than other nations.  "Relatively speaking, the economic fallout of the coronavirus that is reverberating around global markets has not impacted Australia as hard as many other nations.  Even considering Victoria’s second wave and the potential for subsequent outbreaks elsewhere, employment figures are encouraging and other key indicators point to our economy’s overall resilience,” she said. 
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j.ballantyne1990-6AQqhLzZaK

Experts forecast Australian banks will cut or defer dividends: Finder Survey

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Prior to the 1960s most share investors were long-term investors who bought stocks for their dividend income.
Investors then started to focus more on capital growth as bond yields rose relative to dividend yields on the back of rising inflation.
However, thanks to an increased focus on investment income as baby boomers retire, interest in dividends has returned.
This is a good thing because dividends are good for investors in more ways than just the income they provide.
Australian companies pay out a high proportion of earnings as dividends.
<img src="https://www.urban.com.au/images/2019/2/27/SHOL%201.JPG" alt="">
This is currently around 65% compared to around 45% for global shares. However, some argue that dividends don’t matter – as investors should be indifferent as to whether a company pays a dividend or retains earnings that are reinvested to drive growth.
Or worse still, some argue that high dividend pay outs are a sign of poor long-term growth prospects, that they are distraction from business investment or that they are often not sustainable. And of course, some just see dividends as boring relative to speculating on moves in share values.
My assessment is far more favourable. Seven reasons why dividends are cool First, dividends do matter in terms of returns from shares.
For the US share market, it has been found that higher dividend payouts lead to higher earnings growth.
This is illustrated in the next chart, which shows that for the period since 1946 when US companies paid out a high proportion of earnings as dividends (the horizontal axis) this has tended to be associated with higher growth in profits (after inflation) over the subsequent 10 years . And higher profit growth drives higher returns from shares.
So dividends do matter and the higher the better (within reason).
There are several reasons why this is the case: when companies retain a high proportion of earnings there is a tendency for poor hubris driven investments; high dividend payouts are indicative of corporate confidence about future earnings; and high payouts indicate earnings are real.
Second, dividends provide a stable contribution to the total return from shares, compared to the year-to-year volatility in capital gains. Of the 11.7% pa total return from Australian shares since 1900, just over half has been from dividends.
<img src="https://www.urban.com.au/images/2019/2/27/SHOL%202.JPG" alt="">
Third, the flow of dividend income from a well-diversified pool of companies is relatively smooth. As can be seen below, dividends move in line with earnings but are smoother.
Companies like to manage dividend expectations smoothly. They rarely raise the level of dividends if they think it will be unsustainable.
Sure, some companies do cut their dividends at times, but the key is to have a well-diversified portfolio of sustainable and decent dividend paying shares.
Fourth, investor demand for stocks paying decent dividends will be supported as the ranks of retirees swell.
Fifth, with the scope for capital growth from shares diminished thanks to relatively high price to earnings ratios compared to say 40 years ago, dividends will comprise a much higher proportion of total equity returns.
More than half of the total medium-term return from Australian shares is likely to come from dividends, once allowance is made for franking credits.
Sixth, dividends provide good income. Grossed up for franking credits the annual income flow from dividends on Australian shares is around 5.7%. That’s $5700 a year on a $100,000 investment in shares compared to $2150 a year in term deposits (assuming a term deposit rate of 2.15%).
Finally, while Australian shares are still 10% below their 2007 high, once reinvested dividends are allowed for (ie looking at the ASX 200 accumulation index) the market is well above it.
Another way to look at dividend income How powerful investing for dividend income can be relative to investing for income from interest is illustrated in the next chart.
It compares initial $100,000 investments in Australian shares and one-year term deposits in December 1979.
The term deposit would still be worth $100,000 and last year would have paid $2,200 in interest.
By contrast the $100,000 invested in shares would have grown to $1,111,435 as at December last year (blue line) and would have paid $47,792 in dividends last year (blue bars).
Or around $62,240 if franking credits are allowed for. Over time an investment in shares can rise but a term deposit is fixed.
<img src="https://www.urban.com.au/images/2019/2/27/SHOL%203.JPG" alt="">
But don’t dividends crimp capex?
This issue has been wheeled out repeatedly since the GFC. But it’s ridiculous.
First the rise in dividends this decade has mainly come from cashed up miners and it’s hard to argue they should invest more after the mining investment boom.
Second the dividend payout ratio is not high historically.
Third the reasons for poor business investment lie in: business sector caution after the GFC &amp; the rise in the $A above parity, which squeezed competitiveness; the fall back to more normal levels in mining investment; and the shift to a capital lite economy based around IT and services.
Don’t blame dividends for poor capex.
Why dividend imputation is so important Dividend imputation was introduced in the 1980s and allows Australians to claim a credit against their tax liability for tax already paid on their dividends in the hands of companies as profits and boosts the effective dividend yield on Australian shares by around 1.3 percentage points.
However, over the years it has been subject to claims that it creates a bias to invest in domestic equities, that it biases companies to pay dividends and not invest and that it benefits the rich.
This is all nonsensical as dividend imputation simply corrects a bias by removing the double taxation of company earnings – once in the hands of companies and again in the hands of investors.
The removal of dividend imputation would not only reintroduce a bias against equities but would also substantially cut into the retirement savings and income of Australians, discourage savings and lead to lower returns from Australian shares.
Labor’s proposal to make franking credits in excess of a taxpayer’s tax liability non-refundable could be argued to remove an anomaly in the tax system as dividend imputation was designed to prevent the double taxation of dividends, not to stop them being taxed at all.
<img src="https://www.urban.com.au/images/2019/2/27/SHOL%204.JPG" alt="">
But a problem is that many Australians have planned their retirement around receiving such refunds.
This is a subject for another note. But it is worth noting that Labor’s proposal does not affect at least 92% of taxpayers who will continue receiving franking credits as they have a sufficient income tax liability (as will pensioners who will be exempted).
If it sets off a broader wind back of franking credits, then it would be a bigger concern.
Dividends provide a great contribution to returns, a degree of protection during bear markets and a great income flow.
For investors needing income the trick is to have a well-diversified portfolio of companies paying high sustainable dividends.
 DR SHANE OLIVER Head of Investment Strategy and Chief Economist AMP Capital
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