Longstanding Gold Coast and Canberra developer <a href="https://www.apartments.com.au/developers/morris-property-group">Morris Property Group</a> is continuing to roll on with its Glitter Strip apartment pipeline, seeking to return to Mermaid Beach with a new 68-apartment development.

Morris, founded by Barry Morris in 1978 and one of the Gold Coast’s most prolific apartment developers over the past two decades, has filed plans for a 12-storey mixed-use building at <a href="https://www.apartments.com.au/new-apartments/36-seabeach-avenue-mermaid-beach-qld-4218">34-36 Seabeach Avenue</a>, on the prized eastern side of the Gold Coast Highway.

The 1,227 sqm site occupies a prominent corner position at Seabeach Avenue and the Gold Coast Highway, opposite the Mermaid Plaza retail and office precinct and around 140 metres walking distance from the future Mermaid Beach South light rail station.

<a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser &amp; Partners</a> has designed the project, which will comprise 68 apartments across a mix of 48 two-bedroom and 20 three-bedroom residences.

The building will rise 12 storeys, reaching a maximum height of 36 metres, with the apartments accounting for a total of 156 bedrooms. The development application also seeks approval for short-term accommodation across the 68 apartments, while two office tenancies are proposed at ground level.

The plans show 108 car spaces across the development, with parking accommodated at ground level and within a three-level basement accessed from Seabeach Avenue.

<img alt="Seabeach Avenue and the Gold Coast Highway" data-entity-type="file" data-entity-uuid="c2175c99-12fd-4a3c-9be1-89bbf258a90d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-20%20at%202.59.41%E2%80%AFPM_0.png?VersionId=iNLzWcE6gaAE76rafhEXfHve.4g4Se0p" />

Resident amenity will be concentrated on level two, where Fraser &amp; Partners has designed a recreation deck with a swimming pool, 90 sqm pool terrace, outdoor barbecue area and gym.

The broader communal offering will also incorporate landscaped spaces, with the planning documents noting the amenity has been designed to provide areas for recreation, social interaction and outdoor living.

The proposal would continue the transformation of the Gold Coast Highway corridor through Mermaid Beach ahead of the arrival of the light rail.

The site is zoned Neighbourhood Centre and sits within the Mermaid Beach/Broadbeach Light Rail Corridor neighbourhood plan. While the prescribed building height is 24 metres, the site is identified within an Urban Neighbourhood context providing for a 50 per cent height uplift to 36 metres.

Planning documents describe the stretch of the Gold Coast Highway between Broadbeach and Nobby Beach as increasingly characterised by medium and high-rise development, with the proposed Morris tower joining projects including Ventura, The Alfred, Oceans and Otto.

<img alt="Seabeach Avenue and the Gold Coast Highway" data-entity-type="file" data-entity-uuid="911f193f-e381-4a55-be08-58be87fcf978" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-20%20at%202.59.48%E2%80%AFPM.png?VersionId=oxVvLJaY.SOXEdXrIcogfyEXDfvCmmpM" />

The development would mark Morris Property Group's latest investment in Mermaid Beach, where it has already delivered two apartment projects.

Otto, at 1 Bondi Avenue on the western side of the Gold Coast Highway, comprises 70 apartments across nine storeys. The project was completed in 2019 and includes a residents' gym, recreation deck and swimming pool.

Morris also developed Oceans at 46 Ocean Street, a nine-storey, 70-apartment build-to-rent development completed in 2019. Oceans was the group's first build-to-rent project and incorporates commercial space at ground level.

The two existing Morris projects sit further north along the same Gold Coast Highway corridor as the proposed Seabeach Avenue development. Fraser &amp; Partners' planning analysis specifically identifies both Otto and Oceans among the established built-form precedents surrounding the site.

<img alt="Seabeach Avenue and the Gold Coast Highway" data-entity-type="file" data-entity-uuid="14925119-7b71-4812-8149-340317512c7c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-20%20at%203.00.15%E2%80%AFPM.png?VersionId=aEJqYuw_nTCjcin17BSD0piB1EFotTlj" />

Mermaid Beach represents only part of Morris' considerable Gold Coast footprint.

The family-owned developer has been particularly active in neighbouring Broadbeach, delivering projects including Sierra Grand, Eclipse, Synergy, Qube, Koko, Opus and Malo, while its current pipeline includes Maison and the two-tower Crest development.

Further south, Morris has also developed a string of projects in Burleigh Heads, including Element, Boardwalk and Sandbar, while Essentia expanded its footprint north into Surfers Paradise.

The Seabeach Avenue application has been lodged by PMM Broadbeach Pty Ltd and seeks a development permit for a Material Change of Use for multiple dwellings, short-term accommodation and office uses. Zone Planning Group prepared the planning application, with Fraser &amp; Partners commissioned as architect.

The project comes as the developer continues to expand its Gold Coast pipeline while retaining a significant presence in Canberra. Morris now has more than $2.5 billion of development in its national pipeline and has delivered more than 7,000 homes during its near five-decade history

Joel Robinson

First look: Morris Property Group returns to Mermaid Beach with new Seabeach Avenue apartment development

<a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/developers/fortis&amp;source=gmail&amp;ust=1787272340808000&amp;usg=AOvVaw3hvFB2uWTRfEyEcpTSnnK9" href="https://www.apartments.com.au/developers/fortis" target="_blank">Fortis</a>&nbsp;is continuing its stronghold on Sydn​ey’s eastern suburbs apartment market, launching&nbsp;in September&nbsp;its latest boutique&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/developments/double-bay-nsw-2028&amp;source=gmail&amp;ust=1787272340808000&amp;usg=AOvVaw0GI5S9-wNeiLUnM-d1uYkw" href="https://www.apartments.com.au/developments/double-bay-nsw-2028" target="_blank">Double Bay</a>&nbsp;development,&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/new-apartments/55-william-double-bay-55-william-street-double-bay-nsw-2028&amp;source=gmail&amp;ust=1787272340808000&amp;usg=AOvVaw2YNouJQcFjiTTgVHbgDLA-" href="https://www.apartments.com.au/new-apartments/55-william-double-bay-55-william-street-double-bay-nsw-2028" target="_blank">55 William</a>.

55 William presents&nbsp;just eight north-facing&nbsp;two-bedroom, three-bedroom and full-floor&nbsp;residences to the market, priced from $4.5 million.

The upcoming launch comes just weeks after Fortis secured approval for the $80 million development, its third eastern suburbs approval in two months. Construction is already underway, with completion targeted for 2028.

[smartcode_project:default project_id=152579 project_image_fid=376250]

55 William adds to a growing concentration of Fortis projects in and around Double Bay, a market the developer has become increasingly active in over recent years.

Fortis previously completed the nine-residence Marmont on New South Head Road, while it is currently developing a mixed-use residential and retail project at 12 Cross Street. Its wider Double Bay footprint also extends into commercial and retail development.

The developer's broader Sydney residential pipeline is particularly concentrated across the eastern suburbs, with projects spanning Doub​le Bay, Ro​se Bay, Wo​ollahra, Dar​ling Point, Poi​nt Piper and Eli​zabeth Bay.

[smartcode_project:default project_id=152579 project_image_fid=376253]

At 55 William, Fortis has again turned to MHN Design Union, the architecture practice behind several of its eastern suburbs projects, while London-based 1508 London has been appointed to handle the interiors and Wyer &amp; Co the landscaping.

The six-level building will comprise a combination of two and three-bedroom apartments, including a garden residence, full-floor apartments, a sub-penthouse and penthouse. Each residence will have secure basement parking and private outdoor space.

A rooftop terrace for all residents, along with select apartments, enjoys views across Double Bay Harbour and toward the Sydney skyline.

Ceiling heights will reach up to three metres&nbsp;in select residences, while the kitchens will feature natural stone and integrated Gaggenau appliances.

&nbsp;

&nbsp;

The boutique nature of the project reflects the type of stock Fortis has increasingly targeted across Sydney's eastern suburbs, where larger apartments and smaller buildings are being pitched primarily toward local owner-occupiers and downsizers.

Fortis Group General Manager Ed Eve said the developer continues to see demand from buyers wanting to remain in the eastern suburbs but move into newer, lower-maintenance housing.

“We're seeing continued demand from local owner-occupiers and downsizers looking for high-quality homes that allow them to remain in the eastern suburbs, close to the lifestyle and community they know,” Eve said.

55 William is also one of the early projects to respond directly to the NSW Government's Low and Mid-Rise Housing reforms. Fortis had previously secured approval for just two townhouses on the 599 sqm site before revising the scheme to eight apartments following the planning changes.

Situated one street back from Double Bay's water's edge, the project enjoys an enviable harbourside setting within walking distance of Double Bay Village and the ferry wharf.

[smartcode_project:default project_id=152579 project_image_fid=376252]

Fortis has increasingly made the eastern suburbs a major focus of its Sydney pipeline. Beyond Double Bay, it recently completed the 14-residence Piper in Point Piper and has projects underway or planned across Rose Bay, Woollahra and Darling Point.

The developer recently secured approval for Verano in Rose Bay, a six-level development comprising 21 two, three and four-bedroom apartments, also designed by MHNDU.

55 William&nbsp;is soon to be release to the market with VIP appointments commencing early September,&nbsp;with residences priced from $4.5 million.

[smartcode_project_cta:default project_id=152579]

Fortis continues eastern suburbs push with 55 William launch

UAE-based developer Arada has unveiled plans for a $2 billion twin-tower apartment development in Broadbeach, marking its first move into Queensland as it continues its rapid expansion across Australia.

Arada will develop 952 apartments across two towers on a prominent site opposite the Gold Coast Convention and Exhibition Centre, with the project targeted for completion ahead of the Brisbane 2032 Olympic and Paralympic Games.

The project represents Arada's largest commitment to the Australian market since arriving in the country in 2024 and significantly expands a local pipeline that has now grown to eight projects and more than 5,000 homes.

It will also be the first major Queensland project delivered by Roberts Co since the tier-one contractor was acquired by Arada Group in 2025.

Plus Studio has designed the Broadbeach development, which will comprise one, two and three-bedroom apartments across two towers connected by a landscaped podium.

A significant resident amenity offering will include lagoon and lap pools, a gym, sauna and steam room, alongside a mist room, infrared room and salt scrub facilities. Communal terraces, private dining areas, a library, residents' lounge and work-from-home spaces are also planned. Around 1,200 sqm of retail and hospitality space will occupy the ground floor.

The site puts Arada in one of the Gold Coast's most active apartment markets, directly opposite the convention centre and within walking distance of Pacific Fair, The Star Gold Coast and Broadbeach's dining and retail precinct.

It also has immediate access to the Gold Coast light rail network and sits just a few blocks from the beach.

Arada Group Chief Executive Ahmed Alkhoshaibi said Broadbeach represented an opportunity for the developer to expand beyond its initial NSW pipeline.

“Broadbeach is a world-class address that gives us the canvas to create a community of exceptional design and lifestyle quality that genuinely enriches the daily lives of the people who call it home,” Alkhoshaibi said.

“This is our first development outside New South Wales, and it reflects our growing ambition to grow in key urban markets around the country.”

Alkhoshaibi said bringing Roberts Co into the project would give Arada greater control over the development and construction process.

“Delivering this project through Roberts Co, our own tier-one construction business, means we can bring the quality, pace and accountability that our buyers expect.”

The move into Broadbeach comes as Arada accelerates its Australian expansion following its entry into the market two years ago. The developer has assembled a pipeline of eight projects comprising more than 5,000 homes, while the acquisition of Roberts Co last year gave the group its own Australian construction capability.

Globally, Arada has a development portfolio valued at $50 billion comprising more than 55,000 homes across the UAE, United Kingdom and Australia.

The Gold Coast is emerging as the next major market for the developer, with strong population growth and infrastructure spending ahead of the 2032 Games continuing to underpin significant apartment development across the coastal strip.

Arada plots $2 billion Broadbeach towers in major Queensland move

Sydney’s downsizer market is changing, with a growing cohort of buyers prioritising the right home over simply finding a smaller one.

Coronation Property Head of Sales Cam Porter says the traditional idea of downsizing does not necessarily reflect what many buyers are now looking for, particularly those moving from established family homes across Sydney.

Instead, he says they are increasingly becoming “right-sizers”, seeking lower-maintenance homes without sacrificing the space, amenity or quality they have become accustomed to.

“We are increasingly seeing buyers who are not motivated by the idea of simply moving into a smaller property,” Porter says.

“They are right-sizers. They want a home that is easier to manage and better connected, but they still expect generosity, quality and a floorplan that supports the way they live.”

It is a subtle but important distinction in a market where apartment developers are increasingly targeting established owner-occupiers.

[smartcode_project:default project_id=135149 project_image_fid=377495]

For many of these buyers, moving from a house to an apartment is not driven by a desire to dramatically reduce their living space. Instead, the appeal is in removing some of the maintenance associated with a larger home while retaining generous living areas, storage and enough flexibility to accommodate family and friends.

Coronation’s sales team is seeing buyers place particular importance on natural light, practical storage and additional rooms that can be used as guest bedrooms, home offices or secondary living spaces.

Kitchens and dining areas are also playing an increasingly important role, particularly for buyers who regularly entertain or have children and grandchildren visit.

[smartcode_project:default project_id=135149 project_image_fid=377494]

“These buyers still want their home to feel generous,” Porter says.

“They may want less maintenance, but they are not looking for less life.”

The challenge for the broader housing market is providing enough of the right stock to encourage that move.

While much of the discussion around Sydney’s housing shortage has centred on the number of homes being delivered, Porter says the diversity of those homes is equally important.

Older homeowners can remain in large family houses for longer when they cannot find an appropriate alternative in the neighbourhoods where they have built their lives.

“The decision is rarely as simple as wanting fewer bedrooms,” Porter says.

“People are weighing up their connection to a neighbourhood, the space they need for family, the quality of the home and whether it will continue to work for them over the long term.”

It also has implications beyond the downsizer market. Providing suitable apartments for smaller households can free up established houses for families who need the additional bedrooms and land, creating greater movement through the housing market.

<h2>Lillian targets the next stage of apartment buyer</h2>

It is a buyer Coronation is targeting at <a href="https://www.apartments.com.au/new-apartments/lillian-erskineville-9-metters-street-erskineville-nsw-2043">Lillian</a>, its new collection of apartments, terraces and penthouses at Erskineville Village.

Designed by Silvester Fuller, Lillian has been shaped around larger living spaces, natural light and flexible floorplans, alongside landscaped areas, wellness amenity and communal spaces for residents.

The development will form part of Coronation’s broader Erskineville Village precinct, which will combine new homes with green space, retail, hospitality and new pedestrian connections.

[smartcode_project:default project_id=135149 project_image_fid=377688]

McPherson Park will sit at the centre of the precinct, creating a significant new green space alongside the project’s retail and hospitality offering.

For Porter, the opportunity is to give buyers another housing option without forcing them to leave the part of Sydney they already know.

“People should be able to change the type of home they live in without having to change their entire life,” he says.

“For many buyers, Lillian offers the opportunity to remain connected to the Inner West and the city, while gaining access to a more convenient, walkable and considered way of living.”

[smartcode_project:default project_id=135149 project_image_fid=377687]

Coronation will explore the changing <a href="https://lillianresidences.com.au/news/lillian-x-space-x-downsizers-event-27-august/">right-sizer market at an event on August 27</a>, bringing together experts across property, design and lifestyle.

Held in partnership with SPACE, Poliform and Downsizer.com.au, the event will include a property market outlook from economist Michael Blythe alongside discussion around the considerations facing buyers planning their next move.

Attendees will also be able to learn more about the residences and amenity planned at Lillian Erskineville.

[smartcode_project_cta:default project_id=135149]

From downsizing to right-sizing: What Sydney buyers want from their next home

Family-owned builder and developer <a href="https://www.apartments.com.au/developers/omaya">Omaya</a> is bringing its 27-storey The Maybelle development to market, with the 229-apartment tower rising alongside Ismay Reserve near North Strathfield.

<a href="https://www.apartments.com.au/new-apartments/the-maybelle-21-parramatta-road-homebush-nsw-2140">The Maybelle</a> will comprise one, two and three-bedroom apartments, with its height providing elevated outlooks towards the Sydney skyline and Harbour Bridge, while other residences will look across neighbouring Ismay Reserve.

Designed by <a href="https://www.apartments.com.au/architects/squillace-architects">Squillace Architects</a>, the tower combines its parkside setting with proximity to the established retail, dining and transport amenity around North Strathfield.

[smartcode_project:default project_id=134873 project_image_fid=376196]

Residences will feature open-plan living spaces and a choice of two interior schemes, while communal amenity is spread across two elevated levels of the building.

Level 8 will be home to the Garden Pavilion, a full-floor resident space incorporating communal entertaining and breakout areas, seating and recreation spaces. Further up the tower, a landscaped Sky Terrace on Level 14 will provide another communal area with panoramic views towards the Harbour Bridge and Sydney skyline.

At ground level, the development sits directly alongside Ismay Reserve, where lawns, walking paths, children's play areas, picnic spaces and recreational facilities extend the green space available immediately around the project.

[smartcode_project:default project_id=134873 project_image_fid=376194]

The Maybelle is also within walking distance of North Strathfield and the Bakehouse Quarter, which provides a mix of cafés, restaurants, shops and everyday services.

Existing rail and bus services provide connections across Sydney, while the future North Strathfield Metro and access to the M4 will add to the transport options available around the precinct. Walking and cycling routes also extend via Powells Creek towards Sydney Olympic Park and its sporting, entertainment and parkland precincts.

Families are also well positioned for access to a broad selection of established schools and education options across Strathfield and the surrounding Inner West.

[smartcode_project:default project_id=134873 project_image_fid=376181]

Omaya has operated in Sydney for more than 35 years, managing projects from acquisition and design through to construction and delivery. The family-owned company is both developer and builder of The Maybelle.

Apartments start from $560,000, with the development protected by 10-year Latent Defects Insurance.

Construction is well underway, with completion expected by the end of 2026 and move-in anticipated from Q1 2027.

[smartcode_project_cta:default project_id=134873]

The Maybelle brings 27-storey parkside tower to market near North Strathfield

Fairfax Media

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Domain has appointed the former Reserve Bank economist Trent Wiltshire as its economist.
He was more recently at the Grattan Institute.
Wiltshire, who joined Grattan in July 2015 after four years as an economist at the Reserve Bank, holds a Master of Public Policy and Management from the University of Melbourne and a Bachelor of Commerce with Honours in Economics and a Bachelor of Laws (Hons) from Monash University.
He resides in a dowdy 1960s Moorabin home which cost $1,025,000 in 2016 after being listed for just three days.
The home now comes with a $1.08 million value estimate by Domain, reflecting annual price growth of almost three percent.
It was marketed with being 250 steps to the business and shopping centre as its major selling point.
Wiltshire has recently been vocal on local traffic issues especially around the proposed Jasper Road and Moorabbin shopping strip.
He will work in Domain's new data and insights unit, Domain Research House.
The unit is being led by newly-appointed content and data director Tobias (aka Toby) Johnstone, who began working with auction results in the SMH newspaper in 2008 under the tutelage of then property editor Jonathan Chancellor, now editor at large at Property Observer.
<img src="https://mumbrella.com.au/wp-content/uploads/2018/09/DOM-Research-House-Logo-800x307.jpg" alt="" width="470" height="180">
As part of the launch, Dr Nicola Powell has been confirmed as senior research analyst, although she calls herself a data scientist.
Eliza Owen has been recruited as a research analyst from CoreLogic.
The new division launched a report by Wiltshire, which looked at Western Australia’s property renaissance. 
"After years in the doldrums, Western Australia is showing signs of life.
"But new Domain research shows that WA’s beleaguered property market could have bottomed out," he wrote. 
He replaces the veteran Dr Andrew Wilson.
The blokeish Domain coterie was recently rocked by the departure of its rising star Chris Kohler.
Kohler now leads authoritative property coverage on the new yourmoney channel, a joint venture launching next month between Nine and Australian News Channel.
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j.ballantyne1990-6AQqhLzZaK

Domain hires former Reserve Bank economist Trent Wiltshire 

<html><body><div class="heading">
Fairfax Media director Patrick Allaway and wife Elizabeth have bought back into Mosman.
They've spent $3.1 million on a single-level home that has doubled in price since it traded in 2013 for $1,567,000.
Set on 385 sqm in rose dotted gardens, the home has three bedrooms and two bathrooms.
The couple downsized from their $4.4 million Esther Road home last year.
Its their fourth Mosman abode, having peaked with a Kirkoswald Avenue trophy home sold to UBS boss Matthew Grounds for $14.05 million in 2012.
They briefly resided on the edge of Hyde Park, but sold their apartment in The Residence to Fairfax Media chief executive Greg Hywood for $4.1 million in 2016.
This article was first published in the Saturday Daily Telegraph.
 
 
 
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firstname1-iYD4UYzvBa

Fairfax Media director Patrick Allaway buys back in to Mosman

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The Fairfax-backed Domain Group has told staff it was undertaking a HR review of its workplace culture.
It coincides with a series of three articles this week by The Australian Financial Review with allegations of a "Wolf of Wall Street atmosphere" where its former chief executive Antony Catalano allegedly led a “high octane, blokey, boys' club.” 
Catalano was unavailable for comment to Fairfax Media reporters this week, but The Australian reported he had engaged defamation lawyer Mark O'Brien.
An email was sent to Domain employees on Wednesday by the acting executive chairman Nick Falloon who pledged to undertake a review of its working environment.
Falloon’s email to all Domain staff said they “would have seen the AFR report this morning regarding Domain”. There have been two further articles as Fairfax Media ratcheted up the pursuit of their former executive.
The latest article is today headlined, "Antony Catalano: The fall of a party boy."
The Aaron Patrick piece write-off alleged "the Domain CEO represents the first Australian corporate casualty of the worldwide movement against inappropriate workplace behaviour triggered by Harvey Weinstein."
<p data-reactid="416" data-gtm-vis-recent-on-screen-6236702_632="203531" data-gtm-vis-first-on-screen-6236702_632="203531" data-gtm-vis-total-visible-time-6236702_632="100" data-gtm-vis-has-fired-6236702_632="1">Fairfax holds a 60 per cent stake in Domain. The Catalano-led division, mostly Melbourne-based, previously reported directly to the Sydney-based Fairfax chief executive Greg Hywood.
“Be assured that the board and management are committed to ensuring that Domain is an employer of choice. Our future prosperity is based on the quality of our people and creating a positive, safe and welcoming workplace,” Falloon told Domain staff.
“We believe Domain has done well in this regard. But we can always do better.
“Accordingly, we have recently commissioned a review of our working environment. We ask that you all participate in this review so we can further improve our workplaces for the future.”
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jchancellor-FAypfDUnLy

Fairfax turns on Catalano as Domain chairman seeks HR workplace environment review 

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Listing at noon yesterday, Domain shares opened at $3.80.
The stock traded as high as $3.98, before finishing the day at $3.69, reflecting a near $2.2 million valuation. 
Fairfax Media shares fell 30% to 74¢, due to the loss of a 40% stake in the Domain business that has been given to the publisher's shareholders. 
Fairfax Media, including its 60% stake in Domain, is now worth $1.7 billion, but when excluding Domain, the market is valuing the Fairfax rump at about $400 million.
On its second trading trading day Domain (DHG) was trading at $3.75.
The spin-off, long mooted, but first announced in February, saw Fairfax's existing shareholders given one Domain share for each 10 shares they own in the longtime publisher.
Fairfax returned to its spinoff plans after US private equity firms TPG and Hellman &amp; Friedman dropped out of bidding for the publishing group in July.
TPG Capital had lobbed a $2.76 billion bid.
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Domain hits stock exchange with near $2.2 million valuation

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Fairfax Media has warned that its revenues are down 4 percent to 5 percent on last year's levels, as it prepares its much anticipated Domain separation plan.
In a statement to the share market, the media company reported falling revenue for all parts of its business, except the real estate advertising arm that is about to be spun-off.
The new digital property group, Domain will have an enterprise value of $1.85 billion, less than the numbers being tossed around when private equity interest was briefly being shown.
The only part of the old Fairfax business with revenue growth was Domain, where gross earnings rose 13 percent on the back of an overall 22 percent rise in Fairfax Domain digital revenue.
However the total recent revenue growth at Domain of 13 percent, was down from its recent 16 per cent forecast, along with overall Domain digital revenue growth of 22 percent, coming in below a forecast of 26 percent.
Fairfax said it made the updated financial disclosure as part of the Domain separation.
The company said today's financial update will replace the usual disclosure provided at the annual general meeting, which will be on November 2.
After the spinoff, Fairfax will no longer have direct access to Domain's cash flow and will only receive money from Domain via dividends.
In a disclosure statement Fairfax also said Domain’s costs will increase approximately 13 percent in 2017-18, from $206 million in 2016-17, in line with previous guidance.
The worst decline in revenue was for its metro media division — which includes the mastheads, The Age, The Sydney Morning Herald and the Australian Financial Review — where gross earnings are down 11 percent so far this financial year compared to last.
Australian Community Media, the local newspapers division, has had a 10 percent revenue slide.
Domain has signalled its intentions to be far more than a property advertising platform.
Domain Group is expanding into insurance with the launch of Domain Insure in conjunction with insurance specialist Envest.
Domain Insure, expected to launch later this year, is set to become a must-use digital solution for Domain customers seeking to meet their insurance requirements arising from buying, selling or renting property.
Domain chief executive officer Antony Catalano said Domain Insure adds to Domain’s suite of real estate products and services spanning home loans, utilities connections and trade services "which together deliver on our ambition to meet the modern needs of property consumers throughout their property lifecycle of buying, owning and selling."
Domain’s portfolio of offerings include home loan brokering business Domain Loan Finder, utilities connections business Compare &amp; Connect, home improvement and maintenance business Oneflare, open for inspection check-in management system Homepass, in addition to Domain Insure.
Fairfax confirmed in August it plans to retain 60 percent of the shares in the separately listed Domain, with Fairfax shareholders taking the other 40 percent.
The company also confirmed in August Fairfax Media chairman Nick Falloon will take the same post at Domain.
The board will be:
Nick Falloon, Chairman and Non-Executive Director;
Greg Ellis, Independent Non-Executive Director;
Geo Kleemann, Independent Non-Executive Director;
Diana Eilert, Independent Non-Executive Director;
Patrick Allaway, Non-Executive Director;
Gail Hambly, Non-Executive Director; and
Antony Catalano, Chief Executive Officer and Managing Director.
"Domain is a real estate media and technology services business, covering services across digital and print platforms," Falloon said in the statement.
"The business, which delivered FY17 revenue from operations of $320 million, has a strong track record of growth, with total revenue increasing at a 28% compound annual growth rate over the past three years.
"Domain has a subscriber base of approximately 12,000 agencies and the large majority of all property listings in every state on its site, providing a strong platform to drive national expansion and depth revenue in the future."
Post separation, Domain will incur a range of costs and adjustments attributable to being a standalone, ASX-listed company. 
The total pro forma standalone cost adjustments are $10 million in FY17 consisting of:
$2 million for Domain Board costs, listing and other costs associated with Domain becoming a standalone entity;
$6 million for additional corporate duties; and
$2 million in FY17 reflecting corporate costs attributable to Domain which were previously unallocated to Domain for the purpose of Fairfax Media segment reporting.
The amounts include charges paid by Domain to Fairfax Media.
Following the separation, Domain will continue to be consolidated by Fairfax Media and therefore the incremental costs for Fairfax Media (post separation) will be $5 million, as opposed to $10-12 million for Domain.
The senior leadership team will comprise of:
• Antony Catalano, Chief Executive Officer and Managing Director;
• Robert Doyle, Chief Financial Officer;
• Graeme Plowman, Chief Operating Officer;
• Melina Cruickshank, Chief Editorial and Marketing Officer;
• Simon Kent, Group Director (Domain Media and Developers);
• Tony Blamey, Chief Commercial Officer;
• Mark Cohen, Chief Technology Officer; and
• Trent Casson, Managing Director, Domain Victoria.
 
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