Buying into a masterplanned community often means committing to a vision still years from taking shape. At <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>, that vision is already visible.

Residents have moved into the completed first stage, landscaped spaces are established, and the next chapter is now underway. Stage 1 has been completed and settled, with Stage 2 now selling off-the-plan.

Designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a>, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> combines attainable apartment living with sustainability initiatives rarely seen at this price point, including rooftop solar, battery storage and a resident EV-sharing program.

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Located on Schofi​elds Road, just moments from Tal​lawong Metro Station and Schof​ields Train Station, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been designed to appeal to a broad mix of buyers, from first-home purchasers looking for a foothold in Sy​dney's property market to downsizers seeking a connected, low-maintenance lifestyle.

<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been conceived as a thoughtfully planned masterplanned community that will evolve over multiple stages, with buyers now able to secure one, two and three-bedroom apartments within a neighbourhood that is already beginning to establish its identity.

One of the project's defining features is its focus on sustainability. Solar energy systems, battery storage and future EV charging infrastructure have been incorporated throughout the development, reflecting a long-term approach to both environmental performance and everyday convenience.

Sustainability sits at the centre of the development's vision, with solar energy systems, battery storage and future EV charging infrastructure integrated throughout the community.

That emphasis on future-ready living extends beyond the technology. Landscaped communal gardens, outdoor gathering spaces and plans for a future retail precinct aim to create a neighbourhood where residents can access daily conveniences without travelling far from home.

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The apartments themselves have been designed with liveability front of mind. Rather than chasing maximum density, the focus has been placed on creating practical homes with generous natural light, usable layouts and strong connections to outdoor space.

Importantly, these design principles have been applied consistently across the one, two and three-bedroom apartment offerings.

The appeal of <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> is also closely linked to its location within Syd​ney's rapidly evolving north-west growth corridor. Over the past decade, major infrastructure investment has transformed the area, with new transport links, business precincts and community facilities reshaping suburbs like Talla​wong and Schofiel​ds.

The agent says buyers are increasingly recognising the area's long-term potential.

"Typical buyers that we're finding across <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> especially are your first-home buyers, your investors, your upsizers as well as your downsizers," Hawes says.

Connectivity remains one of the project's strongest drawcards. Residents have access to both Tallaw​ong Metro Station and Schofi​elds Train Station, providing links to the Sydn​ey CBD, Norw​est Business Park, Macquari​e Park and other major employment hubs. Retail centres including Rous​e Hill Town Centre and Sch​ofields Village are also nearby, alongside schools, parks and future healthcare infrastructure.

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For Stage 1 resident Roji, it is the balance between convenience and comfort that has defined the experience of living at Kew.

"For me, it's a balance of quality and convenience," she says. "Everything I need is right here."

"If I wanted to catch the train, Scho​fields Station is just around the corner. Tallaw​ong Metro connects me to the city."

More importantly, she says, the development has delivered something that cannot be measured in floorplans or specifications.

"<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> feels like home."

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As Stage 2 enters the market, that lived experience may be one of the project's strongest selling points. Buyers are not purchasing into an untested concept or a future promise. They are joining a community that is already taking shape.

Ongoing investment in transport, retail, healthcare and public open space continues to strengthen the appeal of Syd​ney's north-west growth corridor, while <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>'s established first stage provides buyers with a tangible sense of the community's future direction.

For a limited time, buyer can secure a new home at <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> with just a $10,000.

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Joel Robinson

Kew Tallawong: A growing community taking shape in Sydney's north-west

<a href="https://www.apartments.com.au/developers/freecity">Freecity</a> has received development approval for its 51-storey mixed-use tower at 153-157 Walker Street, North Sydney, set to be one of the tallest mixed-use residential-led buildings in one of Sydney’s most sought-after commercial and residential addresses.

Lodged as a State Significant Development Application (SSDA) through the Housing Delivery Authority (HDA) pathway and approved by the NSW Department of Planning, Housing and Infrastructure following a comprehensive public exhibition and submissions process, <a href="https://www.apartments.com.au/new-apartments/153-walker-street-north-sydney-nsw-2060">the project</a> will deliver 296 apartments, alongside a 170-room, luxury hotel, activated retail and significant public domain improvements.

Situated just 200 metres from Victoria Cross Metro Station, on one of the largest developable sites in North Sydney, the development will rise to 234 metres, making it one of the tallest buildings in the suburb. With an end value of approximately $1.5 billion, the project responds directly to the NSW Government’s mandate to accelerate housing delivery in well-located, transit-connected areas.

<img alt="Freecity gets green light for mixed-use residential and hotel tower in North Sydney" data-entity-type="file" data-entity-uuid="192ec455-94bf-4e01-83ef-922b1b269d67" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Freecity%20-%20Walker%20Street%20North%20Sydney%201%20RESIZED%20.jpg?VersionId=Bzqp0SBHCDvLAHjA4QXkjuGoOEIh73Jl" />

The apartment mix will cater to a broad range of buyers, with 65 studio and one-bedroom apartments, 139 two-bedroom residences, 35 three-bedroom apartments, 48 four-bedroom homes, and nine penthouses. Residents will have access to a dedicated amenity level on Level 33, featuring a swimming pool with views towards the Harbour Bridge, Sydney Opera House and North Sydney CBD, as well as a gym, library, shared kitchen, lounge and outdoor entertaining areas.

The hotel will occupy the lower six levels of the building and include meeting and function spaces, a wellness centre with gym, yoga studio, swimming pool and sauna, further strengthening North Sydney's growing hospitality offering.

At ground level, the development has been designed to improve pedestrian connections through the precinct. More than 700 sqm of retail space will activate the street frontage, while a landscaped through-site link connecting Walker Street, Little Walker Street and Doris Fitton Park will provide new public open space with seating, paving and extensive native landscaping.

Freecity Group Co-Founder and Joint CEO Tony Sun said the project represents one of the most significant development opportunities currently available in North Sydney.

"This is one of the most significant development sites in North Sydney and it comes at a pivotal moment for the precinct," Sun said.

"North Sydney is undergoing a genuine transformation, and this project will contribute housing the city urgently needs while creating a landmark destination."

Executive Director of Development Michael Romano said demand for both residential and hotel accommodation would continue to strengthen as the Metro precinct matures.

"The structural demand for high-quality housing and hotel accommodation in North Sydney is compelling, and will only grow as the precinct continues to evolve around the new Metro station," Romano said.

Architectus has designed the tower, orientating the apartments to maximise views towards Sydney Harbour while introducing a sculpted façade intended to respond to light, wind and the surrounding skyline.

Architectus Principal Marko Damic said the design sought to create a tower that contributes to the public realm as much as the skyline.

"We wanted to design a tower that doesn't just sit in the skyline but actively participates and contributes to city life," Damic said.

First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and <a href="https://www.apartments.com.au/developers/perifa">PERIFA</a> have celebrated the topping out of <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf,</a> marking a significant milestone in the delivery of one of Syd​ney's most anticipated waterfront communities.

Located on Sydney's harbourfront at <a href="https://www.apartments.com.au/developments/putney-nsw-2112">Putney</a>, the project has now reached its highest structural point, with construction progressing strongly towards completion in 2027. 
&nbsp; 
The milestone was celebrated on-site with project partners Phoenix Property Investors, Mitsubishi Estate Asia, Versatile Construction, <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, consultants and stakeholders, to recognise the collective effort behind the transformation of the historic waterfront site into a vibrant new residential, marina and lifestyle destination.

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<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will deliver a mix of waterfront residences and terraces, complemented by a private 36-berth marina, waterfront dining opportunities and a revitalised foreshore designed to reconnect the community with the river's edge. 
&nbsp; 
Abadeen Executive Chairman and Founder Justin Brown said the project represented a rare opportunity to create the next chapter in Sydn​ey's long history of successful waterfront precincts. 
&nbsp; 
"Throughout Sydney, some of the city's most sought-after addresses have emerged from carefully considered waterfront precincts such as Woolloom​ooloo Wharf, Walsh Bay and Breakfast Point," Brown said.

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&nbsp; 
"What makes these places so successful is that they become much more than residential developments," Brown said.

"They bring together homes, hospitality, marina facilities, public spaces and a strong sense of community in locations where future supply is incredibly limited."

Brown has long described absolute waterfront land in Sy​dney as "finite."

"Once these opportunities are developed, they are rarely replicated. That's why Syd​ney's waterfront precincts have consistently demonstrated strong demand and long-term value growth over many decades. 
&nbsp; 
"<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is one of the few remaining opportunities to secure a residence within a masterplanned waterfront community that combines direct water access, marina ownership opportunities and a genuine village lifestyle just moments from the Sy​dney CBD."

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PERIFA Founder and Managing Director Fabrizio Perilli said the project reflected a shared commitment to delivering exceptional places that create long-term value for residents and the broader community. 
&nbsp; 
"The topping out milestone is a significant achievement for the Versatile Group and a testament to the collaboration between all project partners, consultants and contractors involved," Perilli said. 
&nbsp; 
"Beyond the residences themselves, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will establish a new waterfront destination that celebrates the history, character and lifestyle of this unique location while creating a lasting legacy for future generations."

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&nbsp; 
Construction is being delivered by <a href="https://www.apartments.com.au/builders/versatile">Versatile Construction</a>, with structural works now substantially complete across the precinct. Attention will progressively shift to the construction of the waterview terraces, apartment façades, services and interior fit-out works over the coming months. 
&nbsp; 
With limited residences and marina berths remaining, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> continues to attract strong interest from owner occupiers and downsizers seeking a premium waterfront lifestyle within close proximity to Putne​y Village, Rh​odes, Top Ry​de and the Syd​ney CBD. 
&nbsp; 
As one of the last opportunities to secure a residence within a new masterplanned waterfront community on Sy​dney Harbour, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is expected to remain a highly sought-after address for years to come.

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Abadeen, PERIFA, top out Putney Wharf harbourfront precinct

Kew has long been regarded as one of Melbourne's premier residential suburbs. It's a location defined by its grand period homes, leafy streets and some of the city's most prestigious schools, yet it has often sat just outside the spotlight cast on neighbouring Hawthorn and Camberwell.

Increasingly, however, buyers are recognising that Kew offers much of what draws people to those suburbs, with a quieter residential setting, exceptional amenity and long-term owner-occupier appeal.

Within a few minutes' walk, residents can access Kew Junction, one of Melbourne's most established village centres. Cafés, bakeries, restaurants, supermarkets, boutique retailers and everyday services are all on the doorstep, with local favourites including Centonove, Adeney Milk Bar Cafe, and Frank &amp; Harri creating the type of walkable lifestyle that has become increasingly difficult to find in Melbourne's inner east. Beyond the immediate neighbourhood, Glenferrie Road's renowned shopping and dining precinct in Hawthorn and the retail, dining and entertainment offerings of Camberwell Junction are both just a short drive or tram ride away.

The suburb is equally well connected. Tram routes 48 and 109 provide direct access to the CBD, while High Street and Cotham Road connect residents to the wider inner east.&nbsp;Nearby access to the Eastern Freeway also places the Yarra Valley, Mornington Peninsula and Melbourne Airport within easy reach, adding another layer of convenience for weekend travel.&nbsp;It's a rare combination of connectivity and tranquillity, where quiet residential streets sit just moments from some of Melbourne's most established shopping and lifestyle precincts.

For families, Kew remains one of Melbourne's most tightly held addresses. Carey Baptist Grammar School, Xavier College, Methodist Ladies' College, Trinity Grammar, Ruyton Girls' School and Genazzano FCJ College are all nearby, while the Yarra River parklands, walking trails and sporting clubs provide another layer of lifestyle appeal.

It's within this established pocket that developer Ricdanic is delivering <a href="https://www.apartments.com.au/new-apartments/wimba-ave-kew-9-11-wimba-avenue-kew-vic-3101">Wimba Ave</a>, a boutique collection of just 13 residences across two buildings named after its location on the tree-lined Wimba Avenue,&nbsp;within one of Kew's most prestigious pockets where homes have been known to sell up to and above $8 million.

[smartcode_project:default project_id=140755 project_image_fid=354809]

The residences prioritise the space that buyers are increasingly searching for but struggling to find in established suburbs. Living areas extend beyond five metres in width, ceiling heights range from three to five metres, and apartments open onto private gardens averaging around 125 sqm. Selected residences also feature balconies of approximately 60 sqm, while premium inclusions include Miele appliances, double-glazed windows, EV readiness, fully electric systems and a 7.2 NatHERS energy rating.

Architect Chris Idle says opportunities to deliver homes of this scale within established suburbs have become increasingly uncommon.

"There are very few opportunities to do these kinds of developments in leafy, established suburbs," he says. "To get this level of amenity, natural light, and architectural freedom in such a setting is extremely rare."

[smartcode_project:default project_id=140755 project_image_fid=366267]

The architecture draws on Kew's established character through the use of handmade Krause bricks, while landscaping by John Patrick introduces 23 plant species, including nine native varieties, creating an environment which focuses just as much on nature as it does the building.

Construction on Wimba Ave is well underway by renowned high-end builder Sinjen, with completion expected in late 2027. Prices start from $2.22 million.

[smartcode_project_cta:default project_id=140755]

The enduring appeal of Kew's tree-lined streets and village lifestyle

"For me, it's the location." That was the first thing Chris pointed to when reflecting on why he and his wife Marita decided to purchase at Candela Ivanhoe, the under-construction new apartment development by Salter Brothers in the heart of the north-eastern M​elb​ourne​ suburb. ​

"We've lived here before… everything is here," Chris said.

"Our doctor is around the corner, there's dentists, pilates, everything we need, restaurants, fast food places, two train stations, Ivanhoe and Darebin, both in walking distance. You don't need anything else."

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Just 10 kilometres from Melbo​urn​e's CBD, Ivanhoe combines direct city connectivity with the amenity of an established village community. Residents have access to highly regarded schools, expansive parklands, public transport, and a thriving retail and hospitality precinct centred around Upper Heidelberg Road, all within a neighbourhood that has retained its leafy character despite its proximity to the city.

<a href="https://www.apartments.com.au/new-apartments/candela-ivanhoe-40-upper-heidelberg-road-ivanhoe-vic-3079">Candela Ivanhoe</a> sits within the heart of this established landscape, positioned just moments from Ivanhoe Village and within walking distance of many of the suburb's most sought-after amenities.

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From Candela, residents can access cafés, grocers, wine bars, restaurants and essential services on foot, while Ivanhoe Station and Darebin Station provide direct connectivity across Mel​bour​ne. The development is also surrounded by some of the suburb's best-known lifestyle destinations, including Pinkie, Laurent, Enni, Docasa and Woodfire Pizza e Cucina, alongside Ivanhoe Plaza, Woolworths, pharmacies and specialty retailers.

Green space is another defining feature of the suburb. Darebin Parklands, Ivanhoe Park, Nellie Ibbot Park and the Yarra River trail network provide extensive opportunities for recreation, while Ivanhoe Golf Course and Ivanhoe Tennis Club continue to underpin the area's long-established lifestyle appeal.

The suburb's education offering further strengthens demand. Ivanhoe Grammar School, Ivanhoe Girls' Grammar School, Mary Immaculate Primary School and Ivanhoe Primary School have helped establish the area as one of Melbou​​rne's most sought-after schooling precincts, attracting families and downsizers alike who want to remain connected to the area.

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While location was the priority for Marita and Chris, the project itself also needed to meet their expectations.

"Whilst location was paramount, I was also looking at design of the environment and Candela ticked every box," Marita said.

"We're just thrilled with our choice."

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Developed by <a href="https://www.apartments.com.au/developers/salter-brothers">Salter Brothers</a>, Candela Ivanhoe has been designed to complement its village setting, with an emphasis on generous floorplans, natural light and practical everyday living.

Residents will have access to a range of shared amenities, including a communal rooftop garden and dedicated residential lounge, complemented by a ground-floor café and lifestyle wellbeing centre, helping foster the sense of community already emerging among future owners.

That approach has resonated strongly with the market. More than 90 per cent of purchasers at Candela Ivanhoe are owner-occupiers, with buyers ranging from downsizers and second-home buyers to young families and first home buyers, creating a genuinely multi-generational community of grandparents, parents and children. It reflects a broader shift across Melbo​​urne's apartment market, where buyers are increasingly prioritising neighbourhood quality, lifestyle amenity and long-term liveability.

Currently under construction by Ironside, Candela Ivanhoe comprises 58 apartments. Candela Ivanhoe is scheduled for completion in the coming months, and residents can move in from September. One to four bedroom residences, prices from $649,000 and limited opportunities remaining.

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Location and lifestyle drive demand at Candela Ivanhoe

Funds Management

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Temporary changes to the foreign investment review framework have created unintended consequences for funds managers that could create additional headwinds for struggling businesses at a time when equity and debt funding is desperately needed to drive the Australian economy.
Executive Chairman of Atlas Advisors Australia, Guy Hedley said the Australian Government’s recent reform, requiring all foreign investment be scrutinized by the Foreign Investment Review Board, has unintentionally captured some managed funds and could reduce interest in Australia as an investment destination at a time when the nation has a desperate need for capital.
“The reforms importantly aim to safeguard the national interest against opportunism amidst the COVID-19 crisis,” Mr Hedley said.
“However, it also creates needless complications for managed funds that invest broadly across different industries and sectors on behalf investors in areas that require capital support.
“In today’s fast-moving business environment, where innovation is key to survival, enterprise cannot wait unreasonably long periods of time for the delivery of outcomes.”
Mr Hedley said that by unintentionally adding some categories of managed funds to the non- FIRB exemption rules could have the effect of stymieing business opportunities that are critical to drive economic growth both now and in the future.
“These measures will leave thousands of Australian startups, emerging, listed and private companies stranded without critical funds needed to drive business continuity and change,” he said.
“Many of these companies will inevitably collapse, forgoing billions of dollars’ worth of tax and employment generating business opportunities.”
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j.ballantyne1990-6AQqhLzZaK

New temporary FIRB rules hurt the economic recovery

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Fractional property investment company DomaCom has been approved by Trustee Partners for the inclusion of the DomaCom Fund as an investment option for their retail Superannuation Fund.
Trustee Partners currently offer 33 domestic and global managed funds managed by 17 leading fund managers. DomaCom will join this list to provide access to Australian residential, commercial and farmland property delivering further diversification.
DomaCom CEO Arthur Naoumidis said, accessing retail super is another significant first for DomaCom, further broadening their potential in the retail space.
"Most advisers have a significant proportion of their clients in retail super who have not been able to access the DomaCom Fund until now," he said.
“DomaCom has the ability to pave the way for creating thematic investment funds to give investors earnings potential in otherwise difficult to access assets such as residential property and farmland. For those interested in investments with impact we can also offer affordable housing, energy and other socially responsible investments”.
Andrew Peterson, CEO of Trustee Partners, says it is a unique offering for financial advisers and their clients.
“Financial Advisers can now create their own white labelled retail super offerings that include direct property using the DomaCom solution and Trustee Partners."
To read more about DomaCom <a href="https://domacom.com.au/" target="_blank">click here.</a>
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jrobinson-rf4aSBido9

Trustee Partners approves DomaCom for retail super

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Leading real estate fund manager EG has acquired the former Roche Products Australia facility in Sydney for $55 million, in a new addition to its Yield Plus Infrastructure Fund No. 2 portfolio.
The facility at <a href="https://www.domain.com.au/property-profile/100-south-creek-road-cromer-nsw-2099" target="_blank">100 South Creek Rd, Cromer</a> is 20 km north of the Sydney CBD.
It is close to the newly constructed $1 billion Northern Beaches Hospital, the $500 million B-line project for improved bus services to the CBD, and the recently announced Beaches Link Tunnel project. It is also near to the Dee Why Town Centre, which is undergoing refurbishment. 
The property has a net lettable area of nearly 26,000 sqm and sits on a landholding of 74,670 sqm. 
EG’s fund No. 2 was launched in 2016 and worth $750 million. It follows the success of its Yield Plus Infrastructure Fund No. 1 (YPI 1), which is known for its strategic acquisitions with future development upside, such as the recently developed Flour Mill of Summer Hill.
The fund also acquired a storage facility in Northcote in January for $13.45 million. 
Its investment strategy includes assets along new or upgraded infrastructure around Australia.   
“The proximity to new and upgraded infrastructure enhances the long term value of the site,” said associate director Capital Transactions Sean Fleming. 
“There’s significant potential to reposition the asset into a multi-tenanted business park in the heart of the northern beaches. It can capitalise on the high levels of demand for quality industrial accommodation.” 
The vendor was Roche Products Australia and the deal was brokered by Charles Gonzalez of Cushman and Wakefield. 
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jonathanchancellor-7SQnKwU6yx

Fund manager EG acquires former Roche Products site in Sydney's northern beaches for $55 million

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The Future Fund is dispensing with its government bond holdings and beefing up cash levels in readiness for rising global interest rates, which its chairman Peter Costello says is “just a question of when”.
The sovereign wealth fund reported an annual return of 8.7 per cent that helped lift its assets to $133.5 billion from the initial $60.5 billion contribution 10 years ago.
But its cash weighting of more than $28 billion was once again a focus of attention.
"Markets are trying to adjust and central banks are trying to give them direction so when the adjustment comes it's not a surprise," Costello was cited as saying by The Australian Financial Review.
The fund's chief executive, David Neal, stressed that the fund's outlook had hardly changed over the year and that even though it had a large cash position, the fund in aggregate was taking risks. For instance it had risky positions in property, venture capital and high yield debt.
The fund has about 6 percent invested in property assets.
Recently, Treasurer Scott Morrison cited strong demand for low-yielding government bonds as the reason the Federal government would not draw on the fund’s assets to meet the its unfunded pension liabilities, for at least 10 years.
"We just had our 1000th bond tender earlier this week, [it was] four times oversubscribed," Morrison said at a Bloomberg Event on Thursday.
"Being able to borrow at those rates means we have made the decision not to draw down on the Future Fund – which is earning at 6 to 8 per cent," he said.
"And why would you draw down when it has that cost to your returns, when you can [borrow] at this other level, maintain the Future Fund for another 10 years to ensure your unfunded superannuation liabilities are covered off."
With nearly a decade since the GFC, Costello said central banks would try to return to normal interest rates.
"You don't stay in a state of emergency long after the storm has passed," he said.
Costello said there shouldn't be any surprises that Australians have increased their borrowings in a period of low interest rates.
"When central banks supported by governments reduce interest rates they are asking people to borrow and Australians have responded by borrowing," he said.
“But when they raise interest rates they are asking people to cut borrowing and when they start [that process] asset prices will readjust."
High debt-to-wages ratio has been worrying the RBA.
"Virtually all of our debt is in high risk investments seeking higher returns than a traditional portfolio,” Neal added.
"We have no sovereign bonds in our debt portfolios – they are in specialist investments that are trying to deliver equity like returns and when you put that together you end up with a higher cash weighting."
Neal said sovereign, or government bonds, were "expensive".
"At some point those rates will rise and even if they don't you aren't getting paid much to hold them so instead we have a cash position."
While low interest rates may be putting the Future Fund off sovereign bonds and other assets tied to long term interest rates, governments are benefiting from cheap funding. Australia's 10-year bond rate of 2.7 per cent remains well below the 20-year average of 4.90 per cent, and fell as low as 1.9 per cent in July 2016.
The fund, said it had become more liquid, which Neal said increased its "ability to reposition the portfolio in response to whatever the market throws at us".
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Future Fund bolsters cash levels as it sees global interest rate hikes

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Leading hospitality group Redcape Hotel Group and its 25 pubs have been bought by a Moelis Australia managed fund in a $677 million deal, as it prepares for a public float of its pub fund.
The deal to acquire Redcape and its 25 pubs in NSW and Queensland from US hedge fund owners Varde Partners and York Capital comes at a time when pub values are rising, according to The Australian Financial Review.
Moelis Australia CEO Andrew Pridham said the plan was to float the pub fund in 12 to 18 months.
Most of the Redcape portfolio is in Sydney and includes the El Cortez Hotel in Canley Heights, Minsky's Hotel in Cremorne, the Willoughby Hotel in Willoughby North and the Eastwood Hotel in the eastern suburbs.
Moelis and Redcape had signed a heads of agreement last year, which allowed a final due diligence.
Redcape was formed after the two US hedge funds snapped up the distressed pub portfolios of National Leisure and Gaming and the Hedley Group when pub values collapsed in the aftermath of the GFC. 
In 2013, they carved out 41 Coles-managed pubs and successfully floated them as Hotel Property Investments (HPI) leaving the remaining pubs up for grabs.
Moelis Australia is funding the acquisition from a combination of existing managed funds, wealthy investors, family offices and Moelis Australia directors and executives.
Moelis Australia will invest $40 million in Moelis Australia Redcape Hotel Group as a strategic investment that will represent a 10 per cent interest in the fund. The fund is forecast to deliver an initial cash yield to investors of 8.75 per cent per annum.
"We know the market well through our investments in pubs since 2014. The attributes of this portfolio is its solid returns and the fact that all the properties are in densely populated areas that will benefit from investment in nearby infrastructure," Pridham was quoted as saying by the AFR.
On the back of the deal and its acquisition of Armada Funds Management, ASX-listed Moelis, raised its forecast underlying earnings (EBITDA) for the year ending December 31 to $29 million, a 25 per cent increase on its IPO Prospectus forecast.
Moelis expects to have more than $2.5 billion of assets under management by December 31.
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Moelis Australia snaps up Redcape Hotel Group's pubs for $677 million 

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Investment firm AMP Capital has got a commitment of $100 million from the Australian government’s Clean Energy Finance Corporation (CEFC) for its green office fund. 
CEFC’s investment would go to the AMP Capital Wholesale Office Fund (AWOF), which is aiming to be carbon neutral by 2030.
The fund has a portfolio of 12 properties, which includes Quay Quarter Sydney and Australian Technology Park, which is targeting a 6 Star Green Star and 5.5 star NABERS rating once completed.
Other existing premium commercial office assets include 200 George Street in Sydney and 700 Bourke Street in Melbourne, which was recently awarded a 6 Green Star Performance rating, becoming the fourth building in Australia to achieve the rating.
“Having achieved the 6 Green Star Performance rating for 700 Bourke Street, AMP Capital is now focusing on achieving Green Star Performance ratings for all other wholly-owned assets in 2017,” AWOF fund manager Nick McGrath said.
CEFC’s investment in AWOF indicates investor appetite for demonstrably sustainable portfolios, AMP said in a press release.
AWOF drew in more than $700 million in equity investment in 2016. 
CEFC Investment Funds lead Rory Lonergan said the CEFC investment in the $4.7 billion AMP Capital fund would help accelerate the development of world-leading energy efficient commercial property portfolios in Australia.
“AMP Capital was selected for this mandate due to the quality and performance of the AWOF portfolio and AMP Capital’s broader commitment to achieve long-term sustainable outcomes,” Lonergan said.
“There is enormous opportunity to reduce emissions from buildings and to really push the boundaries of energy efficiency in the property sector.  With this investment, the CEFC is pleased to support AMP Capital in its objective to deliver net zero emissions across the commercial property portfolio.”
 
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AMP Capital gets $100 million commitment from government-backed green bank

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ASX-listed 360 Capital Group is set to sell its real estate funds management platform to Centuria Capital Group.
Both companies' shares went into a trading halt this morning, ahead of an announcement.
A deal is expected to be announced before the end of the week.  
Centuria Capital is expected to tap equity markets to fund the transaction which was hanging in the balance on the back of recent market volatility. 
Centuria and 360 Capital have been in takeover talks, as exclusively revealed by The Australian's DataRoom column last week, in a deal which will involve Centuria raising about $250 million in cash for the transaction through advisory firm Moelis.
360 Capital is a rival real estate group founded by former Mirvac Group executive Tony Pitt.
Both own retail, offices and industrial properties.
 
Centuria made a $300 million bid earlier this year for the GPT spin-off through, but South Africa-based Growthpoint Properties Australia trumped its offer.
 
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Trading halt for Centuria and 360 Capital

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ASX-listed fund manager Centuria Capital Limited (Centuria) has appointed a new board member who presently works at Google.
 
Susan Wheeldon-Steele is the head of performance at Google where she develops and delivers growth strategies for clients. 
 
Wheeldon-Steele moved to Toowoomba in Queensland when she was four from Charleville and attended Concordia Lutheran College from years one to 12 before starting her further studies at the University of Southern Queensland and working at Murdoch Toowoomba Lawyers, according to a report in the Chronicle. 
 
Centuria chairman Garry Charny said having Wheeldon-Steele on the board was “a step towards the future”.
 
She was previously head of Brand &amp; Retail at AMP Capital Shopping Centres, and was responsible for delivering alternative revenue from 38 retail assets across Australia and New Zealand with combined annual sales in excess of $5 billion.
 
She holds an MBA from the Australian Graduate School of Management (AGSM) and is a member of the Australian Institute of Company Directors.
 
Centuria Capital has $1.9 billion in funds under management, including listed and unlisted property funds as well as tax-effective investment bonds.
 
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Centuria Capital gets a new board member in Susan Wheeldon-Steele

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Property developer and funds manager Charter Hall Group announced operating earnings of 15 cents per security in the six months to December-end, a rise of 9.5 percent from the previous comparable period, and raised its outlook for FY 16.
The company made a statutory profit after tax of $143.5 million, up 259.6 percent from pcp, helped by $89 million in property valuation gains.
Operating earnings rose 26.3 percent to $61.2 million over the comparable period. The group made property deals worth $1.7 billion, and grew its funds under management to $15.9 billion, a 17 percent rise.
“Given volatility across global equity markets, we expect quality property with secure cash flow to remain highly attractive to both institutional and retail investors. We will continue to focus on portfolio security by investing in assets with strong tenant covenants and long lease durations delivering sustainable income and capital growth for securityholders,” Charter Hall’s managing director and group CEO David Harrison said.
The company increased its distribution of 13.3 cents per security, up 9.9 percent over pcp and raised its operating earnings outlook for FY16 to 8-10 percent growth over FY15.
Charter Hall focuses on two key earnings streams; property investment income generated from investing alongside its capital partners in property funds and partnerships and earnings generated from property funds management.
The group focuses on office, retail, industrial and hospitality.
Charter Hall $15.9 billion property portfolio had a total occupancy of 98.1 percent and a stable WALE (weighted average lease expiry) of 7.9 years. This followed 283 leasing deals, including new ones with Target and The Reject Shop in Melbourne, and Amazon Corporate Services and Twitter in Sydney.
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