Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe>

The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

Financial Results

<html><body>
Mirvac has advised its default rate among its apartment buyers remains below 2 percent.
The group noted defaults were tracking below 2 percent which is in line with where they were at the group's first half financial results advised in February.
Its chief executive Susan Lloyd-Hurwitz said the company's strong performance had been driven largely by a "strategic overweight" position in Sydney and Melbourne.
“We believe we will continue to bene t from the densi cation of these cities in the years to come, through our urban asset creation and mixed-use capabilities."
Residential conditions continue to be mixed nationally, it noted.
"Price growth in the Sydney and Melbourne established markets increased materially, following a strong spring and summer season.
"Recent moves by regulators and lenders will likely see price growth ease, however demand is expected to remain sound. Increasing urban population growth, support from low interest rates and demand for quality dwellings in attractive locations is expected to continue.
"In Brisbane, price growth for apartments has moderated with more solid growth for housing and semi-detached dwellings, while Perth has seen signs of improved demand, particularly among rst home buyers, with support from government incentives. 
"We have seen a solid amount of sales activity, up 18 per cent on the prior corresponding period, and we remain on track to achieve a full-year return on invested capital of more than 15 percent," she said in a statement releasing the group's third-quarter update.
"We also expect to settle approximately 3,300 residential lots in FY17."
“With housing affordability becoming an increasingly concerning issue in Sydney, Mirvac launched its The Right Start initiative during the quarter to assist rst time home buyers in securing their own home.
"The Right Start gave over 50 first home buyers the opportunity to purchase at our Sydney Olympic Park development, and we will continue to look at how we can address housing affordability in Sydney.” 
The major apartment project highlights were the settlement of the group's The Moreton project at Bondi which is now 68 percent settled.
Ebsworth at Green Square, Sydney is now 74 percent settled.
Its launch of new projects and continued sales momentum at existing projects, included Olivine, Melbourne where 100 percent of released lots pre-sold; Woodlea, Melbourne: 100 percent of released lots pre-sold; Pavilions, Sydney Olympic Park, Sydney: 67 percent of released lots pre-sold; and Marrick &amp; Co, Sydney: 69 percent of released lots pre-sold.
Mirvac Group recently announce the appointment of Stuart Penklis as head of residential.
Since joining Mirvac in 2002, Stuart has played a lead role in securing and delivering a diverse set of the Group’s large-scale residential and industrial development projects, such as Harold Park, The Moreton, Hoxton Distribution Park and Calibre in Sydney.
Stuart brings more than 20 years of experience in the property industry, including a number of senior roles in his 15 years with Mirvac, across investment and development in multiple sectors.
Most recently, he led the industrial business as group executive, industrial.
Stuart will commence his role as head of residential on 1 May 2017. 
Mirvac posted a 7 percent rise in profit for its first half ended December 31, capitalising on a record $3.1 billion of residential pre-sales, with CEO Susan Lloyd-Hurwitz going to bat for a taskforce to tackle housing affordability.
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j.ballantyne1990-6AQqhLzZaK

Mixed conditions nationally but Mirvac says apartment default rate below 2 percent

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Japan-based developer Sekisui House said turnover for its Australian operations for the 2016 financial year grew 52 percent over the previous year to more than $554 million, helped by a robust residential property market.
It settled more than 1,300 properties settled during this period in New South Wales and Queensland. 
The strong performance was driven by active residential property markets and the company’s diversified product offering which currently includes apartments, land subdivisions, integrated land and housing packages, and completed home products. 
Sekisui House Australia’s CEO Toru Abe said the 52 percent growth in turnover was helped by “extremely favourable” conditions for property development in Australia in recent years. The developer entered the Australian market in 2009. 
The company, which has built over 2.3 million homes across the world, said 2016 FY turnover from its global operations came in at ¥2.026 trillion (equivalent to $23.5 billion as at 31/01/17), up 9 per cent on the previous year.
“Collaboration on research and technology between Australia and Japan has helped contribute to our market penetration in Australia,” said Abe.
<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/2017/03/14/Sekisuismall.jpg" alt="">
Sekisui House, which is listed on the Tokyo Stock Exchange, said it has delivered more than 8,000 homes in Australia and its pipeline is more than $14 billion with nearly 15,000 properties to deliver over the next decade.   
In 2016, the company invested $570 million on two new sites totalling 17.5 hectares in New South Wales. The Orchards in north west Sydney’s Hills Shire district is a $1 billion masterplanned community comprising 1,300 apartments. The Roads and Maritime Services’ ‘urban activation precinct’ in Wentworth Point will be a $1.6 billion community with 2,000 apartments. 
<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/2017/03/14/Sekisui1.jpg" alt=""> 
Abe said the company is diversifying into commercial and retail sectors over the coming years.
Turnover from its international operations in China, USA, Singapore and Australia increased by more than ¥182 billion (equivalent to $2.1 billion), or 103 per cent from the 2015FY.
Sekisui House sold 90 percent of a tranche of SHAWOOD homes within the first week of release at The Hermitage, at Gledswood Hills.
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Sekisui says Australian turnover grew to $554 million on strong residential sales

<html><body>
Listed property group Lendlease Corporation Limited said half-yearly profit after tax rose 12 percent to $394.8 million from a year earlier, helped by a boost in construction earnings.
Revenue in the six months to December 2016 was up 8 percent to $7,945 million over the comparable period the previous year.
The company said remaining end development pipeline grew 5 percent to $49 billion, of which $35 billion comprised urbanisation projects. It said the development segment “continues to maintain a strong residential pre-sales position, closing the period at $5.7 billion.”
Its EBITDA mix comprised a 38 percent growth in development earnings, while investments generated 40 percent.
<img src="https://www.urban.com.au/images/2017/02/27/FEB27LendleaseEBITDA.png" alt="">
Lendlease Group chief executive and managing director Steve McCann said commercial development, in particular the Australian office sector, was a highlight of the first half result. 
“At Barangaroo South, Tower 1 reached practical completion with all three office towers now operational,” said McCann. 
“We had success in converting our pipeline into delivery with the forward sale of three office buildings, in addition to the creation of a capital solution for the Circular Quay Tower.”
Lendlease said it secured new tenants across the commercial development pipeline. New leasing agreements were secured across approximately 85,000 sqm of commercial space in the period, predominantly in Australia. 
The company declared an interim unfranked dividend of 33 cents per stapled security.
Residential settlements included apartments at Victoria Harbour in Melbourne. Its offshore pipeline includes projects in Singapore, London and the Americas.
<ul>
<li>In Singapore, construction at the Paya Lebar Quarter is progressing well and during the period management secured two anchor tenants for the retail component of the development. The project remains on track for completion in FY19. </li>
<li>In Europe, apartment settlements were achieved at the Glasshouse Gardens at International Quarter London and South Gardens at Elephant and Castle in London. </li>
<li>In the Americas, work has commenced at Riverline in Chicago, Clippership Wharf in Boston and 281 Fifth Avenue in New York. These projects are all in the residential sector, representing a mix of multi-family and condominium product. </li>
</ul>
It said communities settlements were down compared to the prior corresponding period due to project timing.
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Lendlease posts double-digit rise in profit on construction boost

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Mortgage broker Australian Finance Group (ASX: AFG) reported a rise in half-yearly profit of 14% from the same period in the previous year, helped by the strong performance of its AFG Home Loans division.
AFG’s loan book now sits at $127 billion, with the overall residential loan book growing to $120.7 billion from $114.7 billion to in the six months to December 2016. 
It said although start to the year was slow, the lending market in Australia is now picking up and mortgage brokers are winning market share. 
The company expects the mortgage broker market penetration to grow as “an increasing number of consumers recognise that a mortgage broker is in the unique position of being able to provide a comprehensive view of the alternatives available across lenders and products”. 
AFG managing director Brett McKeon said the results reflect the broker’s focus on maintaining a strong core broking business. 
“Consistent growth in our distribution network has assisted in generating a strong result for our own branded AFG Home Loans business. Total AFGHL settlements were $1.24 billion, up 34% from the same period last year and represented 7.2% of AFG’s total residential settlements for the period,” he said.
“Importantly our AFGHL book now stands at $4.6 billion which together with strong settlements has helped deliver a profit before tax for the AFG Home Loans business of $4.8 million up 97% from HY16.”
The company said its net profit after tax was $13.4 million for the six months ending December 31, 2016.
It also announced an interim dividend of 4.2 cents per share, an increase of 40% on the prior period.
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prateek24-ezbwHMbNAk

Mortgage broker AFG says profit up 14% as credit market picking up

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Residential developer Devine Limited (ASX: DVN) reported a loss of $38 million for the full year ending December 31, and said it was in talks with ANZ to extend its banking facility with the lender.
The directors’ report said the 2016 results were hurt as a result of trades’ procurement in an over-heated residential construction market in Queensland, while “major weather events” in Victoria and South Australia caused production delays.
The developer had a debt of $22 million (including bank guarantees) as of December 31, 2016, under the ANZ Multi Option Facility , which is due to mature on March 31, 2017. 
The directors’ report noted that they “do not expect the group to be compliant with the covenants of the ANZ MOF when the debt matures. 
“Under the terms of the ANZ MOF Agreement, a breach of a financial covenant entitles ANZ to request repayment of the facility on demand. In such an event, the Group currently does not have the immediate capacity to repay the facility in full nor does it currently have readily available alternate sources of liquidity,” said the report.
Owing to that, the report expressed doubts about whether the developer can continue as a going concern.
It said the developer and its major shareholder CIMIC Group Ltd were working closely with ANZ Bank to come to a solution. 
The company has said it is winding up operations in the medium density home building market, and completed more than 90% of its medium density projects.
The directors’ report noted it had sold three sites and its stake in two joint ventures.
Total revenue from continuing operations rose to $194.2 million from $190.2 million in the previous year. Operating loss before tax widened to $38.3 million from $33.1 million previously.
The group, established in 1983, became a leading brand in the residential property sector and has operations in Queensland, Victoria and South Australia. It listed on the ASX in 1993.
The company said as at December 31, 2016, its residential development pipeline included the equivalent of nearly 6,400 future homes.
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Developer Devine's yearly loss widens to $38 million, says in talks with lender ANZ 

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Genworth Mortgage Insurance Australia has reported a statutory net profit after tax (NPAT) of $203.1 million for FY16.
Underlying NPAT was $212.2 million following adjustment for the after-tax mark-to-market move in the investment portfolio of $9.1 million.
<a href="https://www.propertyobserver.com.au/images/2017/02/08/Screen%20Shot%202017-02-08%20at%2010.57.42%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/02/08/Screen%20Shot%202017-02-08%20at%2010.57.42%20AM.png" alt="">
According to the Investor Report released today the results show lower sales (Gross Written Premium) and lower revenue (Net Earned Premium).
The report said GWP declined 24.8 percent compared with the previous corresponding period due to a number of factors including reduced high loan-to-value (LVR) penetration in the market and a lower LVR mix of business.
"Net Earned Premium decreased 3.6 percent reflecting lower earned premium from current and prior book years," it said.
"Net claims incurred increased due to an increase in the number of delinquent loans relative to a year ago and a higher average claim amount.
"The overall portfolio continues to be supported by strong performance in New South Wales and Victoria. However, the performance in Queensland and Western Australia is challenging, reflecting increased delinquencies, particularly in regions exposed to the slowdown in the resources sector.
"Genworth continues its engagement with policymakers, rating agencies and other industry participants to promote legislative and regulatory policies that support home ownership and continued responsible credit growth.
"Throughout 2016, Genworth has focused on working with APRA to develop and propose suitable capital requirements for the residential mortgage industry. Genworth is leading industry efforts to develop solutions with policy makers and regulators that emphasise the importance of LMI to the Australian mortgage market and stability of the wider financial system, especially its value as a loss absorption and capital management tool for risk management purposes. 
"The figure below shows the evolution of Genworth’s 3 month+ delinquencies (Flow only) by residential mortgage loan book year from the point of policy issuance. 
<a href="https://www.propertyobserver.com.au/images/2017/02/08/Screen%20Shot%202017-02-08%20at%2012.25.45%20PM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/02/08/Screen%20Shot%202017-02-08%20at%2012.25.45%20PM.png" alt="">
"Each line below illustrates the level of 3 month+ delinquencies relative to the number of months an LMI policy has been in-force for policies issued within a specific year.
<a href="https://www.propertyobserver.com.au/images/2017/02/08/Screen%20Shot%202017-02-08%20at%2012.40.20%20PM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/02/08/Screen%20Shot%202017-02-08%20at%2012.40.20%20PM.png" alt="">
"The 2008 Book Year was affected by the economic downturn in Australia and heightened stress experienced among self-employed borrowers, particularly in Queensland, which was exacerbated by the floods in 2011.
"The post-GFC book years are seasoning at lower levels as a result of credit tightening, however, accelerated increases for 2012-14 books have been predominantly driven by regional parts of Queensland and Western Australia that are continuing to face challenges as a result of the downturn in the mining sector."
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Resources sector slowdown noted in Genworth FY16 financials

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Bank Australia’s 2016 financial results released today show strong profitable growth with a net profit after tax of $22.6 million.
It came with overall asset growth of 13 percent taking the bank’s assets to more than $4 billion with a trend toward younger customers.
“We’ve also had significant growth in new customers, particularly from our target market of socially aware consumers and we have decreased the average age of customers by attracting younger customers to the bank,” the managing director Damien Walsh said.
He advised the bank’s decision to forgo a portion of profit this year to focus on investing in the bank’s brand and technology had delivered strong business growth.
“We achieved deposit and loan growth both well above system which is pleasing in the current low interest rate and competitive environment,” Walsh said.
Customer deposits grew by 12 percent and customer loans by 21 percent.
“Our profit sees the bank grow customer owned reserves by $24 million to $435.9 million; and with a very strong capital adequacy ratio of 18.66 percent we are well positioned to grow and provide customers with highly competitive prices, products and services in the years to come.
“The result represents a return on assets of 0.59 percent, which is healthy particularly given that we’ve made some significant investments in our technology, people and brand over the past year,” Walsh said.
Each year Bank Australia commissions CANSTAR to compare its pricing (rates and fees) on deposit and loan products with the average advertised rates of the four major banks. Over and above the $22.6 million of after tax profit, the bank returned pricing benefits in the amount of $33.2 million to customers.
Highlights of Bank Australia’s 2015-16 financial performance
<ul>
<li>Full year net profit after tax of $22.6 million is a strong result given the pressure on net interest margin and the ongoing investment in the bank’s brand, service delivery and technology.</li>
<li>Net interest margin declined due to competitive pressures across the market.</li>
<li>Customer owned reserves grew to $435.9 million strengthening our overall capital position.</li>
<li>Capital adequacy at 18.66% remains very strong.</li>
<li>Loan funding of $1,084 million (21% annual growth) was 46% greater than 2015. Importantly, a large proportion of growth continues to come via online and broker channels delivering customer convenience and extending the geographic presence of the bank.</li>
<li>Responsible credit assessment criteria were maintained while achieving growth.</li>
<li>Deposits grew by 12% reflecting confidence in the bank’s responsible approach to banking and price competitiveness.</li>
<li>The bank’s investment grade credit rating with Standard &amp; Poor’s remains BBB+/Stable/A-2.</li>
</ul>
Summary of Bank Australia’s 2015-16 financial performance:
<table class="x_MsoTableGrid8" style="width: 100%;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" nowrap width="34%">
 
</td>
<td valign="top" nowrap width="8%">
 
</td>
<td valign="top" width="14%">
Jun-15
</td>
<td valign="top" width="14%">
Jun-16
</td>
<td valign="top" nowrap width="14%">
Change
</td>
<td valign="top" nowrap width="14%">
% Change*
</td>
</tr>
<tr>
<td valign="top" nowrap width="34%">
Net Profit After Tax
</td>
<td valign="top" nowrap width="8%">
$m
</td>
<td valign="top" width="14%">
23.96
</td>
<td valign="top" width="14%">
22.59
</td>
<td valign="top" nowrap width="14%">
(1.37)
</td>
<td valign="top" nowrap width="14%">
(5.72%)
</td>
</tr>
<tr>
<td valign="top" nowrap width="34%">
Net Interest Revenue
</td>
<td valign="top" nowrap width="8%">
$m
</td>
<td valign="top" width="14%">
75.61
</td>
<td valign="top" width="14%">
80.48
</td>
<td valign="top" nowrap width="14%">
4.87
</td>
<td valign="top" nowrap width="14%">
6.44%
</td>
</tr>
<tr>
<td valign="top" nowrap width="34%">
Net Interest Margin
</td>
<td valign="top" nowrap width="8%">
%
</td>
<td valign="top" width="14%">
2.22%
</td>
<td valign="top" width="14%">
2.11%
</td>
<td valign="top" nowrap width="14%">
(0.11%)
</td>
<td valign="top" nowrap width="14%">
(4.95%)
</td>
</tr>
<tr>
<td valign="top" nowrap width="34%">
Cost to Income
</td>
<td valign="top" nowrap width="8%">
%
</td>
<td valign="top" width="14%">
64.30%
</td>
<td valign="top" width="14%">
66.95%
</td>
<td valign="top" nowrap width="14%">
2.65%
</td>
<td valign="top" nowrap width="14%">
4.12%
</td>
</tr>
<tr>
<td valign="top" nowrap width="34%">
Return on Assets
</td>
<td valign="top" nowrap width="8%">
%
</td>
<td valign="top" width="14%">
0.70%
</td>
<td valign="top" width="14%">
0.59%
</td>
<td valign="top" nowrap width="14%">
(0.11%)
</td>
<td valign="top" nowrap width="14%">
(15.71%)
</td>
</tr>
<tr>
<td valign="top" nowrap width="34%">
Assets
</td>
<td valign="top" nowrap width="8%">
$b
</td>
<td valign="top" width="14%">
3.58
</td>
<td valign="top" width="14%">
4.04
</td>
<td valign="top" nowrap width="14%">
0.46
</td>
<td valign="top" nowrap width="14%">
12.85%
</td>
</tr>
<tr>
<td valign="top" nowrap width="34%">
Customer Deposits
</td>
<td valign="top" nowrap width="8%">
$b
</td>
<td valign="top" width="14%">
3.03
</td>
<td valign="top" width="14%">
3.40
</td>
<td valign="top" nowrap width="14%">
0.37
</td>
<td valign="top" nowrap width="14%">
12.46%
</td>
</tr>
<tr>
<td valign="top" nowrap width="34%">
Gross Loans
</td>
<td valign="top" nowrap width="8%">
$b
</td>
<td valign="top" width="14%">
2.66
</td>
<td valign="top" width="14%">
3.22
</td>
<td valign="top" nowrap width="14%">
0.56
</td>
<td valign="top" nowrap width="14%">
20.98%
</td>
</tr>
<tr>
<td valign="top" nowrap width="34%">
Loans Funded
</td>
<td valign="top" nowrap width="8%">
$m
</td>
<td valign="top" width="14%">
742.87
</td>
<td valign="top" width="14%">
1,084.08
</td>
<td valign="top" nowrap width="14%">
341.21
</td>
<td valign="top" nowrap width="14%">
45.93%
</td>
</tr>
<tr>
<td valign="top" nowrap width="34%">
Reserves
</td>
<td valign="top" nowrap width="8%">
$m
</td>
<td valign="top" width="14%">
412.00
</td>
<td valign="top" width="14%">
435.95
</td>
<td valign="top" nowrap width="14%">
23.95
</td>
<td valign="top" nowrap width="14%">
5.81%
</td>
</tr>
<tr>
<td valign="top" nowrap width="34%">
Capital Adequacy
</td>
<td valign="top" nowrap width="8%">
%
</td>
<td valign="top" width="14%">
19.74%
</td>
<td valign="top" width="14%">
18.66%
</td>
<td valign="top" nowrap width="14%">
(1.08%)
</td>
<td valign="top" nowrap width="14%">
(5.47%)
</td>
</tr>
</tbody></table>
* The % change calculation is based on the actual full figure
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