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.

[smartcode_project:default project_id=112195 project_image_fid=3286]

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.

[smartcode_project_cta:default project_id=112195]

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.

<img alt="Lyon" data-entity-type="file" data-entity-uuid="2d3e29af-8793-486e-a684-52cef862241f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-15%20at%204.32.26%E2%80%AFPM.png?VersionId=ayG2zpLf3SS6Zy8XmKDcQods4kVWb0gm" />

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.

[smartcode_project:default project_id=28384 project_image_fid=3823]

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."

[smartcode_project:default project_id=28384 project_image_fid=3826]

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.

[smartcode_project:default project_id=28384 project_image_fid=372542]

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.

[smartcode_project_cta:default project_id=28384]

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.

[smartcode_project:default project_id=143337 project_image_fid=374768]

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."

[smartcode_project:default project_id=143337 project_image_fid=374767]

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.

[smartcode_project:default project_id=143337 project_image_fid=374760]

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.

[smartcode_project:default project_id=143337 project_image_fid=374761]

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.

[smartcode_project_cta:default project_id=143337]

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

Recession

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<img src="https://counter.theconversation.edu.au/content/57114/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
I have been analysing and forecasting economies since I worked in our Treasury in the late 1960s.
Over that time, I have fortunately been able to predict most of the key economic developments and events in the global and in our domestic economy – stagflation, recessions, stock and property market crashes, the Asian crisis, the tech-wreck, the global financial crisis (GFC), and so on. Yet it is much harder today to assess where to next than at anytime over that period.
Many of the economic relationships, that many have come to take for granted, seem to have broken down. To cite just one example, the view that if the world was flooded with liquidity, we’d not only stimulate significant real activity, but soon experience runaway inflation. Yet since the GFC, with massive “quantitative easing” (keeping interest rates low, mostly near zero, or even negative) in the US, Europe, Japan and recently China, there is still a significant risk of deflation, and the real economy, especially business investment, hasn’t really responded.
Europe is struggling to avoid a triple-dip recession with deflation, a risk now seriously enhanced with the Brexit vote. The US recovery seems to be faltering with the Federal Reserve threatening to raise interest rates, which could not only slow US growth, but precipitate further turmoil in emerging economies, in their stockmarkets and in their currencies.
Japan is still stuck in decades of rolling recessions and deflation. China’s growth is closer to 4-5 percent, much lower than the authorities would have us believe. It also has a host of structural issues – economic transition, demographic forces, aggregate debt, bad bank and non-bank loans, inequality, corruption and pollution – coming to the fore. And most emerging economies are in deep recession.
All these economic policy challenges are being overlaid, and further complicated, by mounting political and market volatility. This includes serious structural demographic trends like ageing and mass migration, a host of increasing geopolitical tensions, and the significant challenge of climate change to achieve net zero emissions by 2050.
All up, world growth forecasts by most global and regional forecasters are being downgraded consistently. It is clear that the world will have to live with lower growth for many years to come. Most commodity prices are predicted to remain subdued, and world trade will remain particularly weak, having collapsed by some 14% last year.
Moreover, global policy authorities have almost exhausted their traditional monetary and fiscal policy capacity and flexibility, and now must face enormous political and institutional constraints that are working against genuine structural reform. It also seems that polls and betting odds are no longer a reliable guide to the “feelings of the masses”.
Some of the political forces at work are also of particular concern. For example, the recent Brexit vote revealed just how easily sound economic arguments can be overtaken by fear and emotion, driven mostly by misrepresentation and exaggeration, ignorance, and prejudice.
The outcomes could include a disunited kingdom, a fragmentation of Europe (still the world’s second largest economy) putting the Euro under real strain, and a UK, if not global, recession. We have seen a significant, and most disturbing, increase in anti-immigration sentiment across Europe, manifesting in significant political movements.
Equally, the US political system has been turned on its head by the emergence of Donald Trump, running his anti-immigration, anti-China, anti-freer trade, anti-globalisation agendas.
These and many other political forces could easily serve to stall, if not work to reverse, the significant economic progress made globally since the second world war, by integrating the world economy with the freer flow of goods, capital and people.
In my experience, the world has not faced a more challenging time, with such limited policy alternatives and capacities, and with little or no historical experience on which to draw.
Australia has just endured one its longest and most boring election campaigns, with little more than a passing reference to some of these challenges, but certainly no genuine recognition of their significance to the policy challenges our governments now face domestically.
These global conditions and challenges are of such significance that it could so easily swamp anything that was said or promised by any of the parties in this campaign.
The need for inspired leadership in our country has rarely been greater. We saw no evidence of it in this campaign. The outcome will be more uncertainty, less stability, and even poorer government, at this most challenging time.
John Hewson is professor and chair, Tax and Transfer Policy Institute, Crawford School, Australian National University and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/john-hewson-16192" target="_blank">here</a>.
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jchancellor-FAypfDUnLy

The world has not faced a more challenging economic time: John Hewson

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The risk of a recession - or even depression - has been raised as a potential outcome by opponents of Labor's negative gearing property policy.
It is a pity the policy is just 94 words. It is a pity the worthy debate sits within the election campaign.
But these forecasts have come from property veterans who've seen the residential markets through its many cycles over decades. They know all too well the herd mentality into and out of property.
It was industry leader, Mark Steinert, the Stockland boss, who first expressed his fear of recession earlier this month. 
Mark Steinert, chief executive of Australia's largest residential property developer, Stockland, believes Labor's housing policy has the potential to destabilise the entire economy – to the extent of risking a recession.
He suggested governments cannot deal with the affordability issue by de-stabilising the largest asset in the country.
These fears were echoed by veteran mortgage broker, Aussie John Symond who has long been concerned about any tinkering with the preferred investment vehicle of mum and dad investors.
Symond has warned of a potential recession if Labor's plan to limit negative gearing to newly constructed dwellings goes ahead after July 2017 should Labor win government at the July 2 election.
The founder of Aussie Home Loans predicted a slide in the value of all home prices under Labor.
"It is frightening and it will frighten others . . . and it creates this stampede."
His concern is that there could be a glut of properties come on the market, force the prices down, and then "all of a sudden it could be Armageddon with the housing industry that's propped up the Australian economy the last four years."
Mark Steinert actually went further than suggesting a recession. "It will be a depression," noting that property is such a major force driving Australian growth, that even a small change in sentiment flows through the entire economy. 
"It becomes the new dinner party conversation.... people feel poorer. 
"They buy less in the shops and people employ less ....that is how markets work."
Australia has avoided for recession for so long now many press commentators have no context for considering what happens to property markets in a recession.
Glenn Stevens, the outgoing RBA governor, recently noted shocks are inevitable.
"One way or another the human condition is characterised by things happening that were not well predicted and for which we are sometimes less prepared than we might, in hindsight, have wished to be."
I am old enough to remember the last few recessions, with property crash, but recent generations of buyers aren't. 
While it was not a recession there are still plenty of buyers who got caught out in the last big 2003/2004 apartment property boom bust - and some of these buyers are still underwater.
Since then there have been a rollercoaster series of dips, the biggest after the global financial crisis which triggered extraordinary government incentives to boost the property and related industries.
More recently we have had the backdrop where Chinese buying of apartments has enabled Australia avoid going into recession following the dramatic decline in Australia's mining investment industry.
Though some buyers have in recent times been struggling to get their money back after paying crazy prices, but any recession will see much wider suffering for even the more considered acquisitions.
Thankfully first home buyers haven't been big participants in the recent market, rather mature SMSF property investors and family home upgraders with record low mortgage funding.
Hopefully their circumstance might be better able to weather any downturn.
This article was first published in the Saturday Daily Telegraph.
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Risk of recession raised as potential Labor policy outcome

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Aussie John Symond has warned of a potential recession if Labor's plan to limit negative gearing to freshly constructed dwellings goes ahead, calling it "frightening" in an appearance on Seven's Sunrise program on Sunday. 
"Who knows? I don't know whether prices will drop 10 percent, 20 percent or more," he said.
The property tycoon and founder of Aussie Home Loans predicted a slide in home prices under Labor.
"It is frightening and it will frighten others . . . and it creates this stampede. And that's my concern that there could be a glut of properties come on the market, force the prices down, and then all of a sudden it could be Armageddon with the housing industry that's propped up the Australian economy the last four years."
Symond joins another industry leader, Stockland boss who expressed a similiar recession fear last week. 
Mark Steinert, chief executive of Australia's largest residential property developer, Stockland, believes Labor's housing policy has "the potential to destabilise the entire economy" – to the extent of "risking a recession".
"At the end of the day, house prices are unlikely to adjust so much that it would really change that affordability equation anyway," Steinert told the Australian Financial Review.
"And if they do, believe me it won't be a recession. It will be a depression."
Steinert told columnist Jennifer Hewitt property is such a major force driving Australian growth and activity, that even a small change in the market and in sentiment flows through the entire economy. 
"Housing represents $6.5 trillion of the Australian people's wealth," he told The Australian Financial Review. 
"It is so big and so many people are involved that even when that order of magnitude of change is obviously small compared to the stock market…its affects people.
"It becomes the new dinner party conversation.
"People feel poorer. 
"They buy less in the shops and people employ less and people are less willing to borrow money to start a business and suddenly that goes on.
"That is how markets work.
"The only way you deal with affordability in my view is first and foremost about supply…in a structural way.
"You cannot deal with affordability in a manageable way by de-stabilising the largest asset in the country."
Symond's fears were dismissed by Labor's shadow parliamentary treasury secretary and western Sydney MP, Ed Husic, who called them "outrageous", according to a report in the Sydney Morning Herald.
"It's a shame that Malcolm Turnbull and John Symond have teamed up to look after their interests, having done very well for themselves, when there are so many people in my part of Sydney for example, who are trying to buy a first home but cannot," he said.
Turnbull called Symond an authority on the property market at a recent forum in Sydney, the report in the Sydney Morning Herald said.
"As you've heard today from the Real Estate Institute, from John Symond - from Aussie John - that is going to have the impact of putting up rents and reducing the amount of rental property," he said.
A campaign against Labor's change by many of the country's most prominent real estate firms and Coalition supporters uses a website to warn of "disastrous consequences" if negative gearing is crimped.
"Our industry participants pride themselves on being apolitical, but this time, the issue is far too important not to speak out," it states.
Labor has announced it will limit negative gearing to new housing from 1 July 2017 as part of it tax overhaul.
Labor says negative gearing and the capital gains discount have not achieved their aim to boost housing supply and instead will cost the budget over $10 billion this year, more than what the government spends on higher education or child care. It also claims it mostly benefits the top income earners.
 
{mijopolls 142} 
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John Symond says Labor's negative gearing 'frightening', fears recession

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During the life of the next Parliament — and probably by 2017 — Australia will fall into a prolonged recession, according to Steve Keen, the head of the school of economics, history and politics at Kingston University in the UK and author of Debunking Economics.
"For the last 25 years, Australian politicians of both Liberal and Labor hue have been able to brag that, under their stewardship, Australia has avoided a recession.
"Those bragging rights are about to come to an end," he blogged saying the recession has been set up by the sidestep both parties have used to avoid downturns for the past quarter century.
He claimed Australia’s most famous recession sidestep was during the GFC, when it was one of only two countries in the OECD to avoid experiencing two consecutive quarters of negative GDP growth (the other country was South Korea).
"Since then, the private sectors of the advanced countries have collectively de-levered, reducing their debt levels from about 170 to 160 per cent of GDP. Australia, in stark contrast, has levered up.
"Our private debt to GDP ratio is now more than 20 per cent higher than when the GFC began, and more than 50 per cent higher than in the USA (see Figure 1).
Figure 1: Australia has borrowed its way out of recession for the last 25 years
<a href="/images/2016/03/23/6cdbf509f2f9a18c8a88d8c79cf70910.jpeg" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/23/6cdbf509f2f9a18c8a88d8c79cf70910.jpeg" alt="">
"The day of reckoning can be delayed by encouraging yet more private borrowing, which the RBA can attempt to do by cutting interest rates, and the government can reduce the crunch by running a large budget deficit.
"But these are likely to happen after a crisis rather than before it, because our Reserve Bank and our politicians are as oblivious to the dangers of private debt today as Bernanke was back in 2007.
"The 2016 election could be a good one to lose."
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Steve Keen says looming recession means 2016 election would be good one to lose

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The latest doomsday forecasts for Australian real estate call to mind the shameful history of overseas spruikers and local economists in getting it spectacularly wrong on house prices.
There’s nothing new in individuals with ulterior motives (usually seeking publicity for a seminar tour, new business venture or a book launch) getting acres of free mileage by predicting our markets will collapse. The 60 Minutes debacle is merely the latest.
I note that the nation’s worst forecaster of property trends, academic Steve Keen, has publicly admitted recently that he got it “hopelessly wrong” with his price forecasts. It’s about time - Keen famously predicted in 2008 that Australian house prices would fall 40% in 2009. Prices rose that year and in the years since Keen has rehashed his predictions in various guises with different time frames but with the same result – he’s been wrong every time. Now he has written a column for Business Spectator which says: “I was hopelessly wrong on house prices. Ask me how.”
But Keen has lots of company at the bottom when it comes to faulty forecasting, sometimes perhaps for dodgy reasons. 
One of the worst examples was US doomsday specialist Harry S Dent who came to Australian in 2011 for a seminar tour and sought (and received) publicity by predicting our home values would fall 40% in 2012. He advised Sydney owners to “sell their excess real estate”. We all know how well that forecast worked out.
But Dent was back in Australia two years later for another lucrative seminar tour and again went to the media for some free mileage. He said house prices would crash “some time in 2014”, with values falling at least 27% in Sydney and Melbourne. The market made a fool of him again.
Given the state of Australia media, I have no doubt that if Dent shows up again next year, he will make the same style of prediction and will be handed another round of massive national publicity.
Many others have come to our shores and used the Armageddon formula of generating publicity for their venture.
Little-known US spruiker Jorgan Wirsz suddenly became well-known in 2012 by forecasting a “bloodbath” in Australian real estate, with home values tipped to fall 60% in 2013. He also said land values would drop 90%.
Think for a moment what that means. He was suggesting that residential land in Australia would be almost worthless. Nothing remotely like has ever occurred in the history of the world, not even in the worst basket-case economy post-GFC. But Australian media chose to give these ridiculous claims credibility. And of course they were subsequently shown to be nonsense.
There have been many others, including another US spruiker called Jeremy Grantham who claimed in 2010 that the “Australian housing bubble” would burst that year. 
There also have been plenty of local commentators, mostly economists who don’t understand the dynamics of Australian real estate, who have forecast significant declines.
Morgan Stanley’s Gerard Minack said in August 2010 that property was 40% over-valued and the bubble was about to burst.
AMP’s Shane Oliver, who regularly calls it wrong on real estate prices, claimed in 2005 that homes were grossly over-valued and there would be no growth anywhere in Australia for the next decade. Those 10 years have come and gone, and I have to ask: How did that one work out for you, Shane?
Oliver was in the media again in June 2012 claiming that house prices were “over-valued’ and “chronically weak” and were heading for “a sharp fall”. Ooops, again.
Commonwealth Bank chief Ralph Norris said in November 2011 that the sovereign debt crisis in Europe had put Australian house prices at risk.
Prosper Australia claimed in August 2011 that Melbourne was about to experience “a US-style property crash with price falls of 30%”. (Those who suggest Australia must decline because it happened in the US appear to be unaware that US markets dropped for clear reasons, and those circumstances don’t exist in Australia. 
Michael Power of Investec declared in September 2012 that Australian house prices would fall by up to 20% by the end of 2014.
The Herald Sun ran the headline “Prices could fall as higher interest rates bite” based on comments by CommSec’s Craig James. (This notion that rising interest rates means a market crash is quite prevalent, but there is historical evidence to support the idea.)
Citibank economist Josh Williamson said in June 2013 that house prices would peak in March 2014 and fall thereafter. Propell National Valuers put out a media release in June 2014 declaring the end of the Sydney boom and, around the same time, Morgan Stanley analyst Malcolm Wood also called the end for Sydney, saying:” If you’re an investor, you’ve missed the boat.” 
Fringe dweller Leigh van Onselen, who has a lifetime of raging against real estate, stated in February 2012 that the “slow melt” in Australian house prices would continue. 
Another guerilla-style opponent of all things real estate, Kris Sayce, shouted in March 2011 that “the value of your home could fall 61% the minute interest rates start rising”.
The list goes on. And there’s a clear pattern. Since the start of the 21st Century, claims of markets collapsing, bubbles bursting and prices disintegrating have been an almost weekly occurrence. Journalists never seem to tire of doomsday stories.
They’ve all been wrong. And they’ve been wrong for clear reasons. Australia is not in recession, it does not have high unemployment, we don’t have a vast oversupply of dwellings nationwide and our banks don’t lend recklessly. We would need all of those circumstances to fall into alignment, as they did in the US around the time of the GFC, before our property markets would be in danger.
Property Observer would welcome a response from any of those named to give the context on their call.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
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Company at the bottom for faulty market forecasters: Terry Ryder

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As the Sydney real estate markets start drawing the curtains on what has been a highly entertaining 2015 year it’s interesting to note some are framing 2016 as the recession year. 
However before we start nailing that coffin we need to look at what possibly may cause a recession and then look for what may avert a recession. Naturally there are many that opt for the let’s wait and see option although I’m of the opinion that we won’t see a technical recession.
Yes in some areas property prices are falling and in many other areas property prices are still performing well. Just last week we set (nearly doubled) the all-time record price for a Cammeray waterfront.  This week a developer released Chatswood Place, a $300 million boutique style development, and in just three hours set a new suburb record as well as securing $160 million in off the plan sales. This is the very same investment market which many were believing was well and truly finished.
Last week the Australian Bureau of Statistics (ABS) revealed that business investment spending in the September quarter had fallen 9.2 %. This quarterly result was the worst in the 28 year history of the survey of business investment. The ABS also released the GDP growth which identified growth of 0.9 % thanks to the highest exports in 15 years, an increase in consumer spending and of course the much publicised housing boom more particularly in apartment construction.
We also need to note that Treasury has cut the nation’s potential economic growth rate to 2.75 % down from 3.25 %. This follows three consecutive years of below – trend economic growth where the elephant in the room is the decline in mining.
Now for that beaming light at the end of this tunnel of misery – enter the very cashed – up NSW government. Unlike the vast majority of state and territory governments NSW has an overflow of coin and it’s all going into the biggest infrastructure spend in the state’s history. Over the next four years the NSW government has allocated a staggering $70 billion infrastructure spend which is unprecedented. This in itself will singularly underpin the Sydney housing market given nothing stimulates the markets and consumer confidence like a massive infrastructure spend.
The breakdown is $38 billion to be spent on new transport projects which will also include the second harbour tunnel, North West rail link, South East Light rail, Sydney CBD and WestConnex. The Transgrid lease which brought in a record $10,258 billion is still to be allocated although it has been confirmed that these monies will also be directed into new infrastructure projects.
Following the federal government crackdown on illegal foreign real estate acquisitions in Australia the Significant and Premium Investor Visas have been running at full – speed. It will be very interesting to see the next set of figures and whether there has been a significant spike in applications since the crackdown. The low Australian dollar is also enticing many offshore purchasers and expats and this is now a very strong emerging market within the Sydney real estate markets.
So when one takes the time to actually look at what is going on I find myself (as do many others) not too worried about this so called recession. The last recession was 25 years ago and they aren’t very nice but when you have a state government pouring $70 billion into the NSW economy it would appear that NSW has more Zoom than Gloom. 
To further highlight this the NSW government just appointed Lucy Turnbull (the PM’s wife) as chair of the NSW government’s newly created Greater Sydney Commission. The sole purpose of the Greater Sydney Commission is to stop the infighting at local councils and to speed up developments across the city although I still see councils incompetency as an on – going hurdle.  I’m reliably informed that the premier will hand his greater Sydney Commission special powers and the councils will not like what’s in-store.
Of course not everybody will be convinced but then again, that all adds to the theatre of debate. When the 2016 property markets kick off I’m of the view that the areas within a 15 kilometre radius of the CBD will do very well. But expect more than a few to tell a different tale.
MOSMAN – 2088
• Number of houses on the market this time last year – 103
• Number of houses on the market last week – 65
• Number of houses on the market this week – 55
• Number of apartments on the market this time last year – 66
• Number of apartments on the market last week – 60
• Number of apartments on the market this week – 51
CREMORNE – 2090
• Number of houses on the market this time last year – 13
• Number of houses on the market last week – 15
• Number of houses on the market this week – 11
• Number of apartments on the market this time last year – 25
• Number of apartments on the market last week – 18
• Number of apartments on the market this week – 17
NEUTRAL BAY – 2089
• Number of houses on the market this time last year – 10
• Number of houses on the market last week – 8
• Number of houses on the market this week – 8
• Number of apartments on the market this time last year– 42
• Number of apartments on the market last week – 33
*Number of apartments on the market this week – 30
 
ROBERT SIMEON is a director of <a href="https://www.rwm.com.au/" target="_blank" title="RWM" rel="nofollow">Richardson Wrench Mosman and Neutral Bay</a> and has been selling residential real estate in Sydney since 1985.  He has also been writing real estate blog <a href="https://www.rwm.com.au/news/" target="_blank" title="Virtual Realty News" rel="nofollow">Virtual Realty News</a> since 2000. 
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Some framing 2016 as the recession year: Robert Simeon

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Mike Tyson is quoted as saying, "everyone has a game-plan until you get punched in the face”.
So, how do we take this true to life and memorable analogy and personalize it to our business? I spilled my coffee due to convulsive laughter, when I first heard this.
Like many sides of our personal makeup we, as human beings, personalize or internalize and emotionally invest in what we create and believe in.
In this particular post, I will look at how we can recession proof “protect” our brand as we move into 2016 - a year with many unknowns when it comes to the survival of real estate agents and their offices, independent or mainstream.
I'm talking about building a defensive wall that won’t allow adversaries an inch of space but don’t forget, your inner voice can also work against you.
 Yes, you too can punch yourself in the nose and sabotage your business.
I’m no expert, to say the least; so I called on the experience and expertise of my good friend and brand mentor, Anthony Carroll, from Yellowsneakers to help explore the idea of recession proofing my brand.
Anthony best explains the relevance and relationship between recession proofing our business and branding with a simple question:
<ul>
<li>How relevant is your brand when it comes to your purpose and your customers needs? All the elements of your brand should radiate out from your “purpose”.</li>
</ul>
Unravelling purpose is not just about having an idea, it is about solving a problem and engaging an audience.
A purpose is a solution to a problem that your target audience can't solve on their own. Your solution should therefore fit the problem but also be delivered in a way that is unique and different to what your competitors offer.
Staying true to your purpose is KEY to surviving and recession proofing your business.
The basic principles, on how we build a strong defensive wall, is sometimes forgotten. Most brands with no essence or belief, in other words purpose, will fail. Fail to be noticed and fail to engage the audience it needs to survive.
 A strong brand on the other hand, can weather many storms:
<ul>
<li>Product failure</li>
<li>PR fallouts</li>
<li>Corporate scandal</li>
<li>Dips in market share</li>
</ul>
Therefore, the strength of your brand can be gaged by your commitment to its purpose. The purpose that underlines your daily and constant decision making and reason to stay motivated and focused.
A good example of a brand weathering a PR fallout is the LiveStrong brand started by Lance Armstrong.
Because of its strong underlying purpose: Lifestyle choices, healthier eating and so on, the brand continues flourish despite the Tour-de-France doping scandal that Lance Armstrong was at the centre of.
Lance had to step down from the organization he founded and distance himself completely. However, as a result the brand remains relevant in the eyes of its audience.
People will forgive human frailty and it’s been shown that the more human or personable the brand is, the more supportive people become of the brand.
More recently, we can look at the VW emissions scandal. Sales for VW and Audi have actually increased. While it might be too early for sales to be affect, yet it will be interesting to see how VW survives this scandal.
So what happens when we have a kick-ass brand? More people engage with the brand as soon as they understand its core purpose.
Reflecting on the industry I’m presently engaged in and as I re-read this post, I find myself asking the following questions:
<ol>
<li>Will the main real estate brands remain true to the nature, the purpose of their founders? or Will they continue to lose the respect of both employees and clients?</li>
<li>Will the New Year 2016, usher in new real estate brands created by disillusioned employees of some of the more established brands?</li>
</ol>
No matter what industry you are in and particularly if you are about to launch with a new brand; I do hope these thoughts have been of help.
I leave you with this thought: never underestimate small beginnings, remain true to your purpose and your brand will make the impact you aimed for.
 
EDWIN ALMEIDA is licensee in charge of <a href="https://www.just-think.com.au/" target="_blank">Just Think Real Estate</a>.<a href="https://www.just-thin.com.au/"> </a>
He is also the creator of <a href="https://www.youtube.com/user/JustThinkProperty" target="_blank">Oz Real Estate.TV</a> and a presenter for <a href="https://propertyinvestingvault.com/" target="_blank">propertyinvestingvault.com</a>.
 
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Recession proof your real estate business: Edwin Almeida

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News Ltd columnist Alan Kohler says it will take nothing short of a recession to bring Australian house prices down.
Australian house prices were not in a bubble, but instead, in a "new normal" and are not going to come down on their own, the columnist said.
But he noted Deloitte Access Economics’ latest economic outlook where director Chris Richardson said: “The chance of a recession is higher now than it’s been for quite some time. China’s economy is the key.”
Alan Kohler referenced the RBA's recent comments:
“…there are no examples internationally of large falls in nominal housing prices that have occurred other than through significant reduction in capacity to pay (e.g. recession and high unemployment).”
And: “There is no mechanism to get a large and sustained level shift down in prices while a substantial fraction of the population can -- safely and sustainably -- service the obligations involved in paying the higher price.”
Finally: “…there is no example in Australia or internationally where supply expansion on its own generated housing price declines of a similar order of magnitude to the increases in prices seen in some Australian cities in recent years.”
Noting what’s happening in China, Alan Kohler suggested there is no chance of interest rates going up, so serviceability is only likely to improve.
"In fact, rates are more likely to come down further to try to prevent a recession here."
Kohler concluded the one bright spot was the big increase in the supply of apartments, which has resulted in smaller price rises among apartments than house, especially in Melbourne.
"Those who own a house already are winners; those who don’t will have to buy a flat."
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