Melbourne developer Spacious Group has completed Voyage Altona, one of the closest new apartment developments to Altona Beach.

Off the plan purchasers have started moving into the 49-apartment project on Pier Street, with the remaining move-in-ready one-, two- and three-bedroom apartments starting from just over $500,000.

Display apartments have now been fitted out, allowing prospective buyers to inspect the completed residences by appointment.

[smartcode_project:default project_id=112195 project_image_fid=372638]

The completed apartments feature open-plan living and dining areas which extend onto private balconies and terraces, while full-height glazing maximises natural light throughout the interiors.&nbsp;

Hybrid timber-look flooring, stone benchtops, Miele appliances, porcelain-tiled bathrooms and generous storage feature throughout the building which also features landscaped communal areas, expansive shared terraces, lift access and secure on-grade parking.

Drawing inspiration from its bayside setting, Voyage adopts a restrained palette of warm neutral tones and textured finishes. Many of the apartments take advantage of views across Port Phillip Bay, while the indoor-outdoor living spaces have been designed to make the most of the coastal outlook.

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Voyage was developed to address what Spacious Group identified as an undersupply of higher-quality apartment product in Altona, with a focus on owner-occupiers looking to remain within the bayside community.

"Voyage responds to very strong local buyer demand for quality, owner-occupier-focused product," says Barry Plant Projects Director Jarrod Farey, who has handled sales since the project's launch.

"The project delivers an elevated lifestyle proposition, with its design and quality of finish far exceeding anything previously produced in the area, as well as its proximity to Pier Street Village and the beach."

The majority of purchasers have been local downsizers and owner-occupiers looking to stay within the Altona community but who previously had limited opportunities to buy a brand-new apartment.

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Joel Robinson

Spacious Group completes Voyage Altona in Altona's beachside precinct

Homecorp has secured approval for a $360 million apartment development at Budds Beach, paving the way for one of the Gold Coast's most amenity-rich residential projects to launch later this year.

Gold Coast City Council has approved Lýon Residences, a 32-level tower that will deliver 178 two and three-bedroom apartments across a prominent corner site at 8-10 Acacia Avenue and 25-27 Oak Avenue.

The approval comes as developers continue to invest in premium lifestyle-driven apartment projects on the Gold Coast, where owner occupiers are increasingly prioritising amenity as much as apartment size and location.

<a href="https://www.apartments.com.au/new-apartments/l-on-residences-25-27-oak-avenue-surfers-paradise-qld-4217">Lýon Residences</a> has been designed around a resort-style wellness offering, headlined by a Moroccan-inspired spa precinct featuring treatment rooms, a Nordic sauna and steam room, hot and cold plunge pools, a soaking pool and a residents-only juice bar.

The rooftop will include a heated infinity pool and spa, residents' lounge with private kitchen and bar, gymnasium, yoga and Pilates studio, outdoor entertaining areas and barbecue facilities overlooking the Surfers Paradise skyline.

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Homecorp Founder and CEO Ron Bakir said Budds Beach provided the ideal location for the company's latest luxury apartment project.

"Budds Beach represents one of the most unique and sought-after pockets of the Gold Coast, and Lýon Residences has been designed to reflect that sense of rarity and refinement," Bakir said.

The project arrives as wellness continues to become a defining feature of new residential developments both in Australia and internationally.

The latest Global Wellness Institute figures show wellness real estate remains the fastest-growing segment of the global wellness economy and is forecast to exceed $1.8 trillion by 2030. Australia continues to rank among the world's 15 largest wellness real estate markets, with developers increasingly integrating health, recreation and community facilities into apartment projects.

Queensland is also experiencing strong population growth, with the Gold Coast continuing to outperform many other Australian cities as demand for new housing remains elevated ahead of the 2032 Olympic and Paralympic Games.

Bakir said the project had been designed to respond to that shift in buyer expectations.

"Strong population growth and sustained demand across the Gold Coast continue to highlight the need for well-designed new housing supply. Lýon Residences responds directly to this demand while setting a new benchmark for residential living," he said.

Each apartment has been designed to maximise views across the coastline, the Nerang River and the Gold Coast hinterland.

Located just minutes from Surfers Paradise beach and the Broadwater, the development also offers easy access to the light rail network, Broadbeach and Burleigh Heads.

Early site works are underway, with construction expected to commence later this year.

Homecorp approved for Budds Beach apartment tower, Lýon Residences

New apartment developments with uninterrupted, north-facing views over Perth's Swan River are exceptionally rare.

Recognising just how limited those opportunities are, <a href="https://www.apartments.com.au/developers/edge-visionary-living">Edge Visionary Living</a>, one of Perth's most respected builder-developers, targeted <a href="https://www.apartments.com.au/developments/applecross-wa-6153">Applecross</a>, assembling an unrepeatable 6,342 sqm riverfront site on the corner of Moreau Mews and Canning Beach Road to create one of Perth's only new north-facing apartment developments directly overlooking the Swan River.

Today, <a href="https://www.apartments.com.au/buildings/riviere-residences-applecross-59-canning-beach-road-applecross-wa-6153">Rivière Residences</a> offers buyers a unique opportunity to choose between completed residences ready to move into now and off-the-plan homes in the final stage, Rivière West.

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Across the completed East and Central buildings, residents are already enjoying the development's luxury amenity, while two of the precinct's hospitality venues are now open.

The completed component of the development gives buyers the advantage of experiencing the finished product firsthand, including its uninterrupted river views, while still having the opportunity to secure a residence in the final stage.

"People are wowed by the view and the quality of the apartments,"&nbsp;Edge Visionary Living Sales Executive, Holly McSweeney, says.

"They're looking for the convenience of lock-and-leave living, but they're not looking to downsize on quality."

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The rarity of the development hasn't been lost on prospective buyers, McSweeney says.

For McSweeney, it all comes back to a location that is becoming increasingly difficult to replicate.

"Location, location, location," she says. "We are nestled right on the front of the Swan River. You can never get built out, so wherever you are in Rivière Residences, you've got views of the river forever."

The unique waterfront position has resonated particularly strongly with local downsizers. McSweeney says many buyers are long-time Applecross residents looking to transition from large family homes into a luxury apartment without sacrificing space, quality or the lifestyle they've enjoyed for decades.

<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/N_FowNW0wu8?si=vb25XFq1wZ-iufAW" title="YouTube video player" width="560"></iframe>

A major focus for Edge in recent years has been resident amenity. Across its apartment portfolio, from beachfront developments in Scarborough to luxury towers in South Perth, the developer has increasingly invested in the spaces beyond the apartment itself.

The strategy has largely been shaped by downsizer demand. Many buyers are moving from large family homes with swimming pools and established gardens. While they're looking to leave the maintenance behind, they don't want to compromise on lifestyle.

At Rivière, <a href="https://www.apartments.com.au/architects/hillam-architects">Hillam Architects</a> designed the resident facilities as an extension of each apartment. A 25-metre heated swimming pool takes advantage of the north-facing river outlook, complemented by a large gym, sauna and steam rooms, private dining spaces, residents' lounges, a cinema, games room, and dedicated wine and whisky rooms.

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The waterfront location has also proved to be a major drawcard. Residents are within walking distance of the Raffles Hotel, South of Perth Yacht Club, the Heathcote Cultural Precinct and the cafés, restaurants and boutiques along Ardross Street.

Beyond the location and amenity, McSweeney says many buyers take confidence from Edge's fully integrated development model.

Having delivered apartments across Perth for decades, Edge now designs, develops and constructs its projects in-house, giving the company greater control over quality, delivery and the finished product.

"What I love is when people walk through their apartment for the first time and say, 'This is better than what we imagined,'" McSweeney says. "We hear that all the time."

Completed apartments in the East and Central buildings are now available to inspect by appointment, while Rivière West, the final stage of the precinct, is expected to be completed in the first quarter of 2027.

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North-facing Swan River views drive demand at Rivière Residences in Applecross

Nearly 60 per cent of apartments at McNab Group's $220 million The Tannery development in Brisbane's West End have sold ahead of the project's public launch, including a suburb-record $2.57 million sale for a two-bedroom apartment.

The early sales campaign has secured buyers for 50 of the project's 87 apartments, highlighting continued demand for larger owner-occupier apartments that combine generous floorplans with premium lifestyle amenities in one of Brisbane's most tightly held inner-city suburbs.

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McNab Group Executive Chairman Michael McNab said selling more than half the project before launch reflected changing buyer expectations.

"Selling more than half the project before public sales open tells us buyers are actively seeking apartments that offer something genuinely different," McNab said.

"Today's buyers are looking beyond four walls. They want homes that genuinely enhance the way they live, with spaces that support health, connection and everyday wellbeing."

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A key point of difference for the project is the adaptive reuse of the heritage-listed Dixon's Tannery building, which will become The Retreat, a residents-only wellness precinct rather than being redeveloped into additional apartments.

The Retreat will feature a sauna and steam room, hot and cold plunge pools, a commercial-grade gym, Pilates studio, cinema, library, co-working spaces and private dining room. Rooftop amenities will include a swimming pool, landscaped gardens, outdoor entertaining areas and dog-friendly spaces.

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Designed by Cottee Parker Architects with interiors by Tom Mark Henry and landscape architecture by Aspect Studios, The Tannery comprises 87 two, three and four-bedroom apartments across 11 levels overlooking the Brisbane River.

Cottee Parker principal Dee Passenger said preserving the original tannery building had been central to the project's design.

"The easy option would have been to maximise the site's development potential with additional apartments. Instead, McNab has chosen to preserve the original tannery as a shared wellness retreat, ensuring this important piece of Brisbane's history remains at the heart of the community."

Passenger said sustainability also played a key role in the design, with materials from the original industrial site salvaged and repurposed throughout the development.

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Motiv CEO Carly Cottam said buyers had responded strongly to the combination of larger apartments, wellness facilities and the West End lifestyle.

"We are seeing more buyers looking for homes in the sky that provide the space and functionality of a traditional home, while benefiting from the convenience and lifestyle that apartment living brings," Cottam said.

She said purchasers included both owner occupiers and investors, with demand coming from local buyers as well as interstate purchasers.

Coinciding with the public launch, McNab also announced a partnership with Queensland Ballet, whose neighbouring Thomas Dixon Centre shares historical ties with the original Dixon family.

Located on a 4,465 sqm site at 439 Montague Road, The Tannery overlooks the Brisbane River and is around 10 minutes from the CBD.

Construction is underway, with completion expected in the second half of 2027.

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More than half of residences sold before public sales as McNab announces significant partnership with Queensland Ballet

McNab's The Tannery nears 60 per cent sold before public release, sets two-bedroom West End record

Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.

The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a>

The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;

The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.

Iwan Sunito secures approval for $1.9 billion Five Dock mixed-use precinct

Property News

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The Double Bay home of entertainer Jeanne Little - before Alzheimer's disease took hold - has been sold by her devoted husband, Barry for $2.4 million.  
Interior designer, Barry and Jeanne, the Gold Logie winning daytime television star, had bought the apartment in Overthorpe for $1.7 million in 2008 after selling their longtime terrace in Paddington.
The New South Head Road apartment, with sub-tropical garden aspect from every room, was recently snapped up through McGrath agent Mary Howell.
The 218 sqm three bedroom apartment in the early 1980s Mirvac built complex was mortgage free.
Barry has recently spent $440,000 on a Hunters Hill apartment in The Lodge retirement village.
The effervescent Jeannie Little, made famous for her signature greeting "daahling" began her TV career on The Mike Walsh Show in 1974 before being diagnosed with Alzheimer's disease in 2009. She has been in nursing home care for five years.
For some time now Jeanne Little has not recognised her husband and her only daughter, Katie Little who told Studio 10 on Channel 10 in February of her heartbreak at watching the once vivacious TV personality lost inside the confusing mental maze of dementia.
The 77 year-old began her TV career on The Mike Walsh Show in 1974 showcasing designer maternity fashions when she was pregnant with Katie.
"It’s a shocking way to live for a star performer who entertained audiences with her outrageous antics, signature shrill voice and affectionate persona," Katie said of her bedridden mother.
Katie said one of the first moments she realised her mother may have been battling the mental illness was when she couldn’t remember the names of her television industry friends.
In 1976 Little won the Gold Logie for most popular television personality which in her last ever interview she told New Idea that it was her most shocking showbiz moment.
"When Burt Lancaster opened that envelope and drawled in his famous macho voice that Jeanne Little was the most popular female personality on Australian television, I just sat there thinking it’s a hideous mistake. They’ve got it wrong. The room was stunned, no-one clapped, there was deathly silence so I went up on stage, feeling really awful inside about having won."
She had become one of the most popular panelists on Beauty and the Beast.
The irrepressible Jeanne Little performed on stage including her tribute to 1930's screen legend Marlene Dietrich at venues including the Western Suburbs Leagues Club, before it toured the USA in the early 2000s.
This article was first published in the Saturday Daily Telegraph. 
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jchancellor-FAypfDUnLy

Jeanne Little's Double Bay apartment sold

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GUEST OBSERVER
A decade or so ago a large Australian fund manager ran a campaign urging Australians to pay more attention to their superannuation (pension) savings. 
This initially struck me as good advice – after the family home for most of us it will end up being our biggest pot of savings so it makes sense to keep a close eye on it. And surely the closer we look at it the better the outcome? But over the years I have come to the view that we need to be careful here. 
In fact the avalanche of information around investing if not properly managed may be making us worse, not better, investors: more fearful, more jittery and more focussed on the short term than ever. I have looked at this theme before and the more I look into it the more convinced I have become that investors need to try and turn down the noise around investing. 
The permanent worry list 
The technology revolution has made it easier and easier to track our investments. And with this has come easier and easier access to information and views around the outlook for investment markets. Some of this is balanced, but a lot of it is not. 
For the last few years it seems there has been a constant worry list with a range of things about to drag us down into the next financial crisis: budget deficits, debt, money printing, the Euro, Greece (every six months!), hyperinflation, deflation, taxes, welfare spending, banks, retiring baby boomers, the government, peak oil, low oil, pollution, global warming, the Middle East, terrorism, Russia, a pandemic, China, the South China Sea, emerging markets and of course the current fascination being the Fed (will she or won't she?). And of course the perennial worry in Australia relates to the residential property market. 
Big picture macro concerns have always been around. And I find it very hard to believe that things are any worse today than they were 100 years ago (when Europe had entered World War 1, living standards and life expectancy were a fraction of today's and pandemics were a regular phenomenon). 
But the communication revolution means that such concerns are now regularly in our face. I cannot google something without links popping up to new disasters. The fascination with financial news has exploded – with several financial TV channels with 24/7 finance updates interspersed with constant debate about what it all means. And this is now all accessible via apps we can have at our fingertips on smart phones.
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Loss myopia 
In a way this is all fun. But there are several risks. Human nature is naturally cautious because our brains evolved at a time when we had to be on the lookout for physical threats. As a result bad news always attracts more interest and so "bad news sells". Of course, this also applies to financial news. 
But it also feeds into a common behavioural trait called "myopic loss aversion." And here lies the threat to our long term financial health. Oddly enough I was reminded of this by a great Wall Street Journal article I saw recently – "Keep Stock-Market Apps Off Your Phone", by Dr Shlomo Benartzi – that I actually found on a stock market app on my phone! It’s long been observed that a loss in financial wealth is felt much more distastefully by investors than the beneficial impact of the same sized gain and in the world of behavioural economists – who study how people behave in relation to economic and finance considerations – this has come to be known as "myopic loss aversion". 
When the value of an investment falls it makes sense that unless something has fundamentally gone wrong investors should be thinking about increasing their allocation to it to take advantage of it now being cheaper and better value and therefore offering better return prospects. 
The reality though is that many are motivated to do the opposite as the distaste for loss combines with another well-known behavioural trait called "recency bias" that causes investors to give more weight to recent events than they should so they project recent news of falls in their investment into the future. 
The information overload we are now seeing is likely to be reinforcing this because it is increasing our exposure to news about our investments. And this constant feedback is likely adding to "myopic loss aversion". (Hopefully this is not getting too technical!) 
The shorter the horizon the worse shares look 
In a family discussion about shares versus bank term deposits a relative once observed to me that there is no point investing in shares as they just go down about as much as they go up. I thought this odd as my experience has been a lot more positive. But then it occurred to me that for many people their perception of what shares do likely comes from daily updates – from the media or increasingly via an app. And this can lead to a very jaundiced experience.
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For example, if you track the daily movements in the Australian All Ordinaries share price index, measured over the last twenty years it has been down almost as much as it has been up with falls 47% of the time and gains 53% of the time. It’s little different for the US S&amp;P 500 share index which has seen falls 46% of the time on a daily basis versus gains 54% of the time. So from day to day it’s pretty much a coin toss with bad news nearly half the time. 
By contrast if you only look at how the share market has gone each month and allow for dividends the historical experience tells us you will only get bad news (ie a loss) 35% of the time in Australia and the US. Looking only on a calendar year basis, data back to 1900 indicates that the probability of bad news in the form of a loss slides further to just 19% for Australian shares and 27% for US shares. And if you can stretch it out to once a decade, again since 1900, positive returns have been seen 100% of the time for Australian shares and 82% of the time for US shares. See the next chart.  
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The point is that the less frequently you look the less you will be disappointed and so the lower the chance that a bout of "myopic loss aversion" will be triggered which causes you to adopt an investment strategy which is too cautious to meet your goals or leads you to sell at precisely the wrong time. 
But is there any evidence backing this up? Yes there is. As the Wall Street Journal article sited above noted, a 1997 study by US behavioural economists Richard Thaler, Amos Tversky, Daniel Kahneman and Alan Schwartz showed that providing investors in an experiment "with frequent feedback about their [investment] outcome is likely to encourage their worst tendencies...More is not always better. 
The subjects with the most data did the worst in terms of money earned." Basically what's happening here is that investors tend to go for the safer lower returning investment options when more frequent feedback on their investment performance is provided. 
Of course, the greater access to financial information we are now seeing in the media and via mobile devices is having the effect of encouraging us to look at our investments more frequently not less – via daily and even more frequent updates. And around this is an avalanche of news and other information that is often out of context, often irrelevant and often in the bad news category. 
This has the effect of exposing us to more frequent news of loss from our investments and reinforcing that news. Which in turn risks encouraging bad investment decisions. In particular a focus away from investments like shares that can grow wealth over time towards assets that may be safe in the short term but will lead to much lower wealth levels over the long term. 
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What can investors do to avoid this? 
The key I think is to find ways to turn down the volume on financial news because if you are exposed to it less frequently you are less likely to make decisions that are contrary to your long term investment goals. Try to avoid looking at market updates so regularly and even consider removing related apps from your smart phones, tablets and watches. Or at the very least find a way to filter such news in a way that it doesn't distort your investment decisions. 
The traditional approach of adopting a long term investment strategy and sticking to it is arguably now more important than ever. Yes we are now in an environment of more constrained and volatile investment returns which has increased the importance of active asset allocation – but this is best left to experts who can put the time in to filter the noise from fundamental signals and avoid allowing “myopic loss aversion” from getting control.
 
<a href="https://www.propertyobserver.com.au/https://plus.google.com/110172465327488162875?rel=author" target="_blank">SHANE OLIVER</a> is head of investment strategy and economics and chief economist at <a href="https://www.ampcapital.com.au/home" target="_blank">AMP Capital</a> and is responsible for AMP Capital's diversified investment funds.
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The perils for investors of too much information in the app age: Shane Oliver

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Actor Richard Roxburgh, star of Rake, and his wife, the SBS TV celebrity chef Silvia Colloca have their five bedroom Bilgola Plateau home listed for auction.
Their northern beaches modern <a href="https://www.realestate.com.au/property-house-nsw-bilgola-121101482" target="_blank">beach-style retreat</a> has been listed through James Baker at Raine and Horne Palm Beach who sold it to the couple six years ago.
With panoramic views over Pittwater, the ultra modern two level home on Lower Plateau Road has been scheduled for November 22 auction - yes a Sunday - with around $2 million tipped.
It cost $1.62 million in 2009 having been initially listed with $2 million hopes in 2008. 
They are planning on staying on the northern beaches.
This article was first published in the Sunday Telegraph.
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Actor Richard Roxburgh lists Bilgola home for Sunday auction

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From April 2016, Paul Craig currently managing director for Western Australia, will be Savills Australia &amp; New Zealand chief executive.
Paul McLean will retain his responsibilities for Queensland and New Zealand
Robert McKellar, CEO Savills Asia Pacific said Savills had undertaken a regional review of its Asia Pacific management structure, including succession planning, with a view to strengthening and expanding the executive management platform.
“The business under Paul McLean's leadership has trebled in size in Australia and New Zealand - a period of continuous growth, expansion, and improved profitability, and Savills is indebted to his hard work, vision, loyalty and leadership during this time," Robert McKellar said.
“Paul Craig has over the past 15 years built a very successful West Australian business and has been a major contributor to our Capital Markets capability both domestically and internationally, having held the position as head of Australian Cross Border Capital Markets for the past 8 years.
"Paul will bring renewed energy and vigour to the role and will continue to build on the successes of the recently expanded executive management team."
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Savills WA's Paul Craig to take on national role

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Just 19 millioniares have sought significant investor visa permits since Australia overhauled its requirements from July, the Australian Financial Review has reported.
New applicants now must invest some of their $5 million into smaller equities and venture capital, directing investment away from passive investment towards investment in innovation and industrial development.
It was sitting at seven applications two months ago.
Some 1,600 applicants, mostly from China preferred the former fast track residency scheme that allowed low-risk government debt and property investments investing around $3.8 billion into Australian assets after the Federal Government created the golden visa in 2012. 
Under the new rules, applicants must spend $500,000 on funds investing in startup and small private companies, $1.5 million on small-cap equity funds, with the other $3 million on managed funds across Australian listed securities, eligible corporate bonds or notes, annuities and property.
Investment in residential real estate will only be permitted to comprise 10% of the $5 million minimum investment amount, although investors may invest in excess of this outside of this limit.
"The cost of the visa has gone up the risk curve," David Chin, the Sydney-based managing director of Basis Point Consulting Pty told the paper.
Chinese nationals accounted for 91 percent of applications under the old program, Goldman Sachs Group Inc. estimated.
Australia granted around 750 of the visas between November 2012 and March 2015 from 1,679 applications submitted, government data show with Victoria the most popular destination.
The new Federal Government rules which require investors to put their money into riskier assets such as venture capital come as likely investors also struggle to shift money following China's official central government move to tighten capital controls.
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New venture capital SIV scheme off to very slow start as Chinese mostly want property

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The Westpac Melbourne Institute Index of Consumer Sentiment rose by 3.9% in November from 97.8 in October to 101.7 in November. 
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This is a cracking result. Apart from the brief surge we saw following last May’s Budget this is the highest print for the Index since January 2014. The Index is now 8.3% higher than in September, immediately preceding the change of leadership in the government. 
It marks only the third month out of the last twenty one that optimists have outnumbered pessimists. 
The increase also comes despite the banks’ decisions to raise mortgage rates for both owner occupiers and investors. It is surprising that such events did not have a negative impact on confidence. It appears that such is the boost to confidence from the recent political events that the impact of the interest rate increases was comfortably contained Most remarkably, the confidence of respondents who hold a mortgage increased by 4.1% – a slightly larger increase than the rise in the overall Index. 
There is evidence to support this observation that the result is the net effect of two strong opposing forces. The components of the index that measure respondents’ assessments of their own finances were down, on average, by 5.7% whereas the components of the index that measure respondents’ expectations for the overall economy increased by an average of 15.0%. 
The assessments of personal finances were presumably linked to the interest rate increases whereas the outlook for the economy was most likely boosted by confidence in the new leadership. 
Following a spectacular 13.7% fall in October the Westpac Melbourne Institute Index of Unemployment Expectations rose by 3.3% in November. Recall that lower readings indicate fewer consumers expect unemployment to rise in the year ahead. The Index remains 10.9% below its September level and continues to signal a much less pessimistic attitude towards the labour market than we have seen for a number of years. 
As discussed there were some significant conflicting movements amongst the components of the Index. The sub-index tracking assessments of ‘family finances compared to a year ago’ fell 2.2% and the sub-index tracking expectations for ‘family finances over the next 12 months’ slumped 9.1%. Those falls were probably in direct response to the increase in mortgage rates. 
On the other hand the sub-index tracking expectations for ‘economic conditions over the next 12 months’ increased 5.8% while that tracking expectations for ‘economic conditions over the next five years’ soared 24.2% to its highest level since September 2013. It is likely that a boost in confidence towards the economic credentials of the new leadership team played an important hand here. 
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In an encouraging sign for retailers, the sub-index tracking views on ‘time to buy a major household item’ lifted 4.8% although it is still 2.2% below its level this time last year. 
Another encouraging sign for the Christmas spending outlook comes with our special question: “Do you expect to spend more; less; or about the same on Christmas gifts compared to last year”. Since we started this question, seven years ago, the average proportion proclaiming ‘more’ has been 12.5%. Today’s survey scored 16.9% whereas ‘less’ registered 29.6% compared to the average of 34.7%. Consumers in NSW were particularly upbeat with more planning to increase than cut Christmas spending compared to a year ago. 
In fact, this survey shows the most positive mix of Christmas spending plans since we began running this special question in 2009 – a very encouraging signal in the lead in to the holiday period. 
Prospects for the housing market remained soft in this survey. The ‘time to buy a dwelling’ index rose slightly in November but the 1.4% gain still leaves the index down 12.5% over the last year and 29% below its most recent peak in 2013. Weakness persists in NSW; Queensland softened markedly; while Victoria held up well. Possibly in response to recent price falls there was a marked boost in confidence in Western Australia. 
There was another sharp fall in house price expectations. The Westpac-Melbourne Institute House Price Expectations Index fell 7.9% to be down 18.7% over the year. The biggest falls this month were in NSW and Queensland with price expectations in Victoria remaining remarkably robust. 
The Reserve Bank board next meets on December 1. Following its November meeting the Bank has adopted a ‘medium’ easing bias with the low inflation environment affording scope to ease if that is deemed necessary. 
However, the Bank currently expects growth in 2016 of 3.0% (above trend) building to 3.5% in 2017. The positive results from this survey will only bolster these confident growth expectations. There is little chance of a rate cut in December.
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The real issue is whether the Bank will eventually act to cut rates next year – as confidently expected by the market. It is our current view that the growth dynamics of the Australian economy will remain sufficiently supportive through 2016 to ensure steady rates. The lift in spending expectations and confidence around the employment outlook from the survey point in that direction 
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Bill Evans is chief economist of <a href="https://www.westpac.com.au/" target="_blank">Westpac</a>.
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Political change further boosts consumer sentiment: Bill Evans

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Sales volumes and high demand for the sub $500,000 property market on the Sunshine Coast pushed over into the local higher value markets between $600,000 to $700,000 in the first half of 2015, according to Herron Todd White.
Herron Todd White's October Month in Review found coastal property in the $550,000 price bracket is strong, with buyers placing a greater emphasis on the underlying land value of the property. 
"Two examples of the market movement over the two years are from Peregian where one property sold in January 2013 for $466,000 and resold in March 2015 for $515,000 and another was purchased in May 2013 for $482,000 and has recently sold for $560,000," the review noted.
"Prestige housing market has improved in the entry end of this market (up to $1.5 million). Sale volumes appear to be quite good but as you move into the higher value level bands, say plus $2 million, buyers are thinning out. 
"Noosa Waters and Sunshine Beach areas have performed well on the back of the Sydney and Melbourne markets and also increased interest from overseas."
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mick.cee-iDmgDDAmu8

Sunshine Coast property demand strong under $550,000: Herron Todd White

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A property featuring an outdoor pit toilet with sweeping views over the Clandulla ranges in New South Wales is currently on the market for $125,000.
<img src="/images/2015/11/5/700_loo2.jpg" alt="" width="397" height="241">
The 1012sqm property, <a href="https://www.realestate.com.au/property-acreage+semi+rural-nsw-clandulla-120074537" target="_blank">488 Cooper Drive Clandulla</a>, will appeal to both fans of outdated public transport and unusual fixtures, with an original train carriage renovated into a two bedder already on the property decked out with an original "red rattler" flip down toilet.
<img src="/images/2015/11/5/700_yep_its_a_toilet.jpg" alt="" width="436" height="265">
The listing, through Buy My Place, mentions the carriage was built for track work, comes complete with "a large smoko dining area with kitchen sink and cupboards" and has been updated internally with three doors to give a range of cooling options.
 
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Loo with a view price starts at $125,000

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Prime property prices only increased by 1.9% in the year to September 2015 around the world, according to Knight Frank’s Prime Global Cities Index with Vancouver and Sydney leading the rankings with standout performances. 
The index, which monitors and compares the performance of prime residential prices across key global cities, reports an increase of 20.4% in Vancouver in the year to September 2015. A shortage of supply and strengthening local demand alongside foreign interest are the reasons behind the strong performance. 
Sydney ranks not far behind with an increase of 13.7%, while Melbourne sits in fifth place with an annual increase of 9.4%. The weak Australian dollar, an undersupply of new homes and a strong local economy are behind Sydney’s accelerating values, and to an extent Melbourne as well. In addition, Melbourne has been named ‘The Most Liveable City in the World’ for the fifth time in a row by the Economist Intelligence Unit. 
Michelle Ciesielski, director of residential research, at Knight Frank Australia said the lower Australian dollar had influenced the number of ex-pats buying back in Sydney and Melbourne, taking advantage of buying a prime property in these ideal conditions.
Shanghai also recorded double-digit annual price growth, up 10.7% in the year. The reversal of strict housing policies and the introduction of new fiscal measures, including tax and interest rate cuts, have fuelled demand in Shanghai. 
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Looking beyond the top rankings, the overall performance of the index was less than robust, Knight Frank noted.
The index now stands 34.1% above its low in Q1 2009 but its annual rate of growth is slowing. 
Kate Everett-Allen, residential researcher at Knight Frank noted the index’s annual rate of growth had slowed significantly from 7% two years ago to 1.9%.”
Some 73% of cities recorded positive annual price growth in the year to September down from 91% two years ago.
Singapore was the weakest performing prime market tracked by the index for the seventh consecutive quarter, but the rate of annual decline has slowed from -15.2% at the end of Q2 to -7.9% this quarter. 
Analysis by world region highlights that Australasia leads the Prime Global Cities Index, with an average annual price growth of 11.6%, followed by North America at 8.5%. Europe has entered positive territory this quarter with an increase of 0.8%. However, performance here varies from an increase of 9.4% in Monaco to -5.1% in Zurich. 
As QE unwinds and a US rate rise draws near, prime assets will remain on the radar of investors and HNWIs. The big question mark surrounds not Greece and the Eurozone but the slowdown in the Chinese economy. Wealth from China will continue to flow into overseas property markets with the UK, US, Canada and Australia being key target destinations. 
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Sydney shines in Knight Frank global cities report

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Two childcare centres were much sought after at Burgess Rawson's 100th portfolio auction in Melbourne.
The one in Hampton sold for $3.95 million and the other in Heatherton for $3.2 million.
“Both childcare centres attracted strong and competitive bidding with both Hampton and Heatherton selling on circa 5.6% yields," selling agent Adam Thomas said.
"These investments continue to be highly sought after due to the long secure leases to national tenants and are underpinned by the high underling land value coupled with the inherent value of the business.” 
The 461-463 Bluff Road, Hampton site (above) is leased for 15 years to Only About Children (OAC) till 2030, with three 10-year options.
OAC is a high-end childcare provider with 31 locations across Melbourne and Sydney's affluent suburbs, including Armadale, Camberwell, Coogee, Cremorne, Mosman, Neutral Bay and Rose Bay.
The rent is $224,985 per annum and there is a fixed annual 3% rent increase.
The tenant pays all usual outgoings.
The main road site is spread over 1,149 square metres with a 34-metre frontage and is licensed for 56 long day care (LDC) places.
The location is just 14 km from the Melbourne CBD and minutes to Beach Road and the Nepean Hwy.
It was extensively redeveloped in 2015, providing for income tax saving depreciation.
The Heatherton property sits at 16-20 Arco Lane and is leased to G8 Education Limited.
It is a new 10-year lease to 2025 with two further five-year options to 2035.
ASX-listed G8 Education is a childcare provider with 450+ centres across Australia.
The facility is built on 595 square metres and is licensed for 90 LDC places.
The land area is a 2,232 square metre commercial zoned site with 16 car spaces.
The rent is $180,000 per annum and the tenant pays all outgoings including land tax.
Beginning in 1975, Burgess Rawson established a nationwide network of offices and is Australia's largest locally owned and operated commercial property agency, marketing more than 10,000 properties and generating sales in excess of $25 billion over the past 40 years. For more information, <a href="https://www.burgessrawson.com.au/portfolio-auctions" target="_blank">click here</a>.
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