Fresh off completing its Delano Crows Nest development, Lindsay Bennelong has lodged plans for its next project, this time turning its attention to the beach.

The developer, founded by Clarendon Homes founder Peter Campbell, is proposing a 37-apartment scheme at <a href="https://www.apartments.com.au/new-apartments/17-25-ashburner-street-manly-nsw-2095">17-25 Ashburner Street</a>, Manly, positioned between the southern end of <a href="https://www.apartments.com.au/developments/manly-nsw-2095">Manly</a> Beach and East Manly Cove.

According to the Design Verification Statement by Bridie Gough of Platform Architects, the proposal “relates to the current context but also the desired future character of taller buildings suitable to the new planning controls.”

The site has been identified as a Low to Mid-Rise Housing (LMR) location, given its position within 400 metres of the Manly Town Centre E1 Business Zone. The LMR controls are intended to unlock additional housing supply in well-located areas close to public transport, allowing developers to seek increased height limits to support greater density.

“The proposal seeks to provide this increased level of housing whilst being respectful of some of the smaller scale buildings also nearby,” the statement reads.

The development would replace four houses and 10 strata apartments currently on the site.

<img alt="Manly" data-entity-type="file" data-entity-uuid="ad03000f-19f9-48b4-b27d-e85ca800a1da" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-30%20at%208.41.59%E2%80%AFAM.png?VersionId=a.txHwCZgbCInlQ6QXbIrI.umvW1T.r8" />

“Careful consideration has been given to the articulation of the building, ensuring the bulk is broken down to a more human scale through a defined four-storey podium,” the statement notes. “More intricate detailing has been introduced on the left-hand side of the street frontage to respond to the adjoining two-storey building, allowing the proposal to sit comfortably within the streetscape.”

The design incorporates a wave-like indentation running through the façade, referencing the nearby coastline and anchoring the building within its local context.

The scheme includes a mix of one-, two- and three-bedroom apartments, with nine of the 37 residences allocated as affordable housing.

“The design ensures a high level of amenity, with apartments offering generous private open space, many with expansive views, and all with comfortable proportions,” the statement adds.

<img alt="Bennelong" data-entity-type="file" data-entity-uuid="6a7f2812-72a1-4959-84b0-997e8cd88aed" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-30%20at%2010.15.50%E2%80%AFAM.png?VersionId=6iMxU3MkXmHVHAoNhYBjnqgka8CUZNbk" />

<a href="https://www.apartments.com.au/developers/lindsay-bennelong-developments">Lindsay Bennelong</a>&nbsp;recently welcomed residents to its 81-unit Delano Crows Nest development, a&nbsp;carefully scaled infill project designed to bridge&nbsp;<a href="https://www.apartments.com.au/developments/crows-nest-nsw-2065">Crows Nest</a>’s lively village centre with its surrounding heritage streets.

Designed by&nbsp;<a href="https://www.apartments.com.au/architects/ajc-architects">AJC Architects</a>,&nbsp;<a href="https://www.apartments.com.au/new-apartments/delano-crows-nest-27-57-falcon-street-crows-nest-nsw-2065">Delano</a>&nbsp;is arranged across three low-rise buildings, incorporating a mix of one, two, and three-bedroom apartments alongside a limited number of townhomes addressing Hayberry Lane. The architectural approach draws on the area’s Art Deco lineage, reinterpreted through contemporary detailing and framed by landscaped communal gardens.

The developer also has a development site in Maroubra.

Joel Robinson

First look: Lindsay Bennelong's new Manly apartment development revealed

Fifty-nine residences across 37 levels. No more than two per floor. With 80 per cent now sold, what remains at <a href="https://www.apartments.com.au/new-apartments/madeline-by-mosaic-broadbeach-22-mary-avenue-broadbeach-qld-4218">Madeline by Mosaic</a> is a short list.

Madeline was always conceived at a scale that sits outside the normal register of Gold Coast apartment living. The residences are half- and full-floor configurations, with the largest spanning more than 400 sqm, dimensions that place them closer to the penthouse end of the market regardless of where they sit in the building.

That scale is the organising principle of everything else: how the floorplans are laid out, how the materials read, how the connection between inside and outside works.

[smartcode_project:default project_id=150135 project_image_fid=355941]

The interiors were developed in collaboration with <a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser &amp; Partners</a>, the architecture practice&nbsp;<a href="https://www.apartments.com.au/developers/mosaic-property-group">Mosaic</a> brought in as design partner for the first time on this project. The palette runs to natural stone, textured timbers, and soft metallics, materials chosen as much for their tactile quality as their appearance.

Light cleverly shifts across surfaces through the day, and the design is explicit about wanting that to be noticed. Full-height glazing runs across the primary living areas, and where the building faces east toward the ocean, those walls of glass are doing real work: framing a view corridor that the site's position directly opposite Broadbeach State School's playing fields keeps permanently open.

That outlook is the site's most consequential asset. In a suburb where new towers continue to rise, a protected view line is genuinely rare, and the Mary Avenue address secures it. Residents at Madeline will look out over open parkland rather than the rear of another building, a distinction that becomes more meaningful with each new development approved nearby.

[smartcode_project:default project_id=150135 project_image_fid=355939]

The private outdoor spaces are sized to match the residences themselves. Terraces on the upper levels frame uninterrupted ocean panoramas, and the planning ensures that living areas extend into those outdoor zones rather than treating them as separate attachments. The flow between the two is part of the design intent, not an afterthought.

Inside, the finish specification reflects the same approach. Rich stone benchtops, warm timber joinery, bespoke hardware, each element specified to hold up over time rather than read as a moment in a particular trend cycle.

[smartcode_project:default project_id=150135 project_image_fid=3409]

Beyond the residences, the amenity offering extends that register. A lap pool and sun deck anchor the outdoor space, alongside a magnesium pool, cold plunge, steam room, and sauna.

A commercial-grade gymnasium, residents' lounge, library, and boardroom round out a programme that functions more like a private members club than a standard building amenity floor.

Construction has commenced under Mosaic's in-house building arm, with completion scheduled for late 2028.

[smartcode_project_cta:default project_id=150135]

Madeline by Mosaic delivers penthouse-level living across every apartment

Developer Fortezza Group is the latest to take its new apartment development, <a href="https://www.apartments.com.au/new-apartments/the-belvedere-5-7-church-street-nelson-bay-nsw-2315">The Belvedere in Nelson Bay</a>, to the NSW Government.

Fortezza, predominantly a South East Queensland developer, is the latest to apply for State Significant Development&nbsp; status through the NSW Government's Housing Delivery Authority, a pathway becoming favoured by developers to speed up the approval process.

They are planning 57 two- and three-bedroom apartments across 5-7 Church Street and 42 Donald Street, near d'Albora Nelson Bay Marina. The diverse apartment mix has sizes from just over 80 sqm to the largest three-bedroom penthouses that reach nearly 200 sqm.

<img alt="Fortezza" data-entity-type="file" data-entity-uuid="090360e1-66d7-43ad-b686-aba81f173bf2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-29%20at%2010.22.40%E2%80%AFAM.png?VersionId=DMqF96eBZolqSAAAcugX0l66ueWng66m" />

Fortezza calls the project a "piece of Istria in Nelson Bay,"&nbsp;referring to the largest peninsula in the Adriatic Sea, shared by Croatia (90%), Slovenia, and Italy, which is known for its Roman history, Venetian-style coastal towns and inland hilltop villages.

They say the The Belvedere is strategically positioned at the apex of Nelson Bay, offering unrivalled views of the ocean, the bay and captivating topography of the area.

"Our commitment to maintaining the integrity of every view and sight line has been relentless," Fortezza Group says.

"Through extensive modelling and analysis, we ensure that each apartment enjoys the natural beauty of Nelson Bay, regardless of future developments. Each design element is carefully curated to harmonise with our European heritage, drawing profound inspiration from the Roman architectural marvels in Istria. The arches, the cascades of greenery and the stonework that define our project pay homage to the structures that once exemplified Roman grandeur."

Residents will have access to a pool, communal green spaces, an office and a coffee shop.

First look: Fortezza Group takes The Belvedere, Nelson Bay apartment development, to NSW Government

SEQ developer&nbsp;<a href="https://www.apartments.com.au/developers/keylin-group">Keylin</a>&nbsp;is the latest to jump into the hot Kangaroo Point market, filing plans for a prime site on Lambert Street.

The 52-unit development, predominantly made up of two-bed apartments, will sit on a 1,012 sqm site at 39 Lambert Street, within the&nbsp;Kangaroo Point Peninsula’s Shafston Precinct.

The 15-storey scheme by <a href="https://www.apartments.com.au/architects/jackson-teece">Jackson Teece</a>&nbsp;is anchored by a strong focus on mid-sized apartments, with 48 two-bedroom and four three-bedroom dwellings forming the mix. The project includes three basement levels, as well as ground and mezzanine parking, delivering a total of 66 car spaces.

<img alt="First Look: Keylin targets Brisbane’s mid-market with 15-storey Kangaroo Point proposal" data-entity-type="file" data-entity-uuid="0df78d49-0723-442f-917e-fe29f4eb02c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/2_1.png?VersionId=Ud0OP4FZCGFHLvwFWbaeTcYq8Fc2mtdh" />

Planning documents describe the proposal as “a high-density residential outcome that integrates with its context and encourages urban consolidation and the efficient use of land in a well-serviced, inner-city location.”

The building adopts a slender tower form across 15 levels, including a rooftop communal terrace. Its design is shaped by setbacks and orientation that respond directly to neighbouring buildings, achieving up to 20 metres of separation to the adjacent Point Hotel and between 9 and 17 metres to nearby residential developments.

A key design driver is the integration of subtropical and biophilic elements. The architectural concept, described as an “elevated garden sanctuary,” draws from the natural character of the Kangaroo Point cliffs, incorporating landscaped ledges, deep planting zones, and extensive greenery throughout the façade. Curved balconies and layered planting soften the tower’s vertical form, while the lower levels feature heavier landscaping and screening to create a more human-scaled street interface.

<img alt="First Look: Keylin targets Brisbane’s mid-market with 15-storey Kangaroo Point proposal" data-entity-type="file" data-entity-uuid="95bc4974-fcbd-4a9a-9dfb-95b8e1977187" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/4.png?VersionId=o8hwItpcfKBglOaTH8Hv7MmVOphZF_Fg" />

Residents will have access to a rooftop amenity offering spanning approximately 262 sqm, including a pool and spa, gym, lounge areas, and flexible wellness spaces. Landscaping is embedded throughout the building, with over 280 sqm of planted areas integrated across the façade and rooftop.

Kangaroo Point has been popular for developers in recent years. Mosaic Property Group has almost sold out its two Kangaroo Point buildings,&nbsp;<a href="https://www.apartments.com.au/new-apartments/the-bedford-by-mosaic-16-30-prospect-street-kangaroo-point-qld-4169">The Bedford by Mosaic</a> on Prospect Street, and <a href="https://www.apartments.com.au/new-apartments/the-carter-by-mosaic-77-linton-street-kangaroo-point-qld-4169">The Carter Building on Linton Street</a>.

Kenlynn has <a href="https://www.apartments.com.au/new-apartments/130lambert-112-130-lambert-street-kangaroo-point-qld-4169">130Lambert</a>, just up the road from Keylin's proposal, while Pikos has two projects in the area.

Keylin targets Brisbane’s mid-market with 15-storey Kangaroo Point apartment development

"A legacy to last 100 years."

That's the view of Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/consolidated-properties">Consolidated Properties Group</a> (CPG), which has just been given the green light to develop its <a href="https://www.apartments.com.au/new-apartments/47-skyring-terrace-newstead-qld-4006">Skyring Terrace, Newstead tower</a> on what is being pitched as "the last true riverfront address at Newstead."

CPG will now begin a VIP release, with buyer enquiries open ahead of priority outreach to registered clients in May.&nbsp;

Access to the as yet unnamed project will be limited, with CPG confirming a staged release strategy targeting a select group of buyers before any broader market launch.&nbsp;

<img alt="DA approved for last true riverfront address in Newstead" data-entity-type="file" data-entity-uuid="f4ab3090-a2b8-46a8-a4f3-4ec16b5b25b9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Enscape_2025-09-18-13-10-37.jpg?VersionId=_9OV7Adc_zdCldf58WkP0iiagz3Ed3yd" />

Construction is scheduled to commence in August 2026, with <a href="https://www.apartments.com.au/builders/hutchinson-builders">Hutchinson Builders</a> expected to be on site in the coming weeks preparing the sales office.&nbsp;

The approved development comprises 227 apartments across a 25-storey tower with more than 75% having northeast river views. There is also an absolute riverfront six-storey boutique building of only 12 residences which will each enjoy more than 21 metres of river frontage.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the project adopts a contemporary interpretation of Brisbane’s classical architecture, with a focus on enduring materials including brick and stone.&nbsp;

<img alt="DA approved for last true riverfront address in Newstead" data-entity-type="file" data-entity-uuid="bfe7254d-25c3-44bb-9a46-ed658d0aab8a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Enscape_2025-11-05-00-57-36.jpg?VersionId=O29la.BVNnSLxL0JVzvEETE8NaYIn3XG" />

CPG Chairman and CEO Don O’Rorke says the approval marks a significant milestone for the group’s $1.5 billion plus riverfront development pipeline including Gloriette at Yeerongpilly.&nbsp;

“This will be a new signature building for the Brisbane skyline and riverfront,” O’Rorke said. “We want this building to be considered one of Brisbane’s best in 100 years.”&nbsp;

CPG Head of Residential James MacGinley says the design prioritises longevity and permanence over short-term trends.&nbsp;

“Woods Bagot’s design will stand the test of time,” MacGinley said.&nbsp;

“First and foremost, these are beautiful homes designed to enjoy river views that will never be built out. However, the heart of this design goes beyond the ‘now’ and draws from the past to create an enduring legacy for the future. We expect these homes to become very tightly held and passed from generation to generation.&nbsp;

The project will form part of CPG’s broader riverfront portfolio, with a fully fitted out sales office opening later this year.

&nbsp;

"A legacy to last 100 years" as Consolidated Properties approved for Newstead tower

Sentiment

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EXPERT OBSERVER
The fall in sentiment this month is troubling as it comes against what should have been a supportive backdrop for confidence. The last month has seen a further 25bp interest rate cut from the RBA, the Federal government’s tax package pass through Parliament, more signs that the Sydney and Melbourne housing markets are stabilising and even some more improvement in the US-China trade dispute. Despite these positives, Australian consumer confidence has fallen to a two year low.
The main driver continues to be deepening concerns about the outlook for the Australian economy and prospects for family finances. The index components show the biggest decline in the sub-index tracking expectations for the ‘economy, next 12 months’ which slumped 12.3% to be down 16.4% since May to its lowest level in four years. Longer term expectations for the economy were also pared back sharply, the ‘economy, next 5 years’ sub-index falling 6.7%.
Deteriorating expectations for the economy outweighed any near term support from the prospect of lower interest rates and tax relief. The sub-index tracking consumers’ expectations for ‘finances, next 12 months’ also recorded a sharp 8% fall, moving back into net pessimistic territory for the first time since late 2017.
Consumer views around current conditions were better supported. The ‘finances vs a year ago’ sub-index lifted 3% to a five month high, although at 85.7, the sub-index remains at weak levels overall. Consumer attitudes towards spending also improved, the ‘time to buy a major household item’ sub-index rising 3.6% to the highest level since late last year. This will be of some relief given that consumer views around current conditions tend to be a better guide to current spending activity. However, that support could fade quickly if weaker expectations for near term prospects are realised.
Responses over the survey week show the Reserve Bank’s rate cut on July 2 had little or no impact on sentiment. Note that the bulk of the survey was completed prior to the government’s tax package passing into legislation on July 4, although this had been widely foreshadowed by media coverage earlier in the week. Indeed, the muted sentiment response to both interest rate cuts and tax relief may stem from the fact that both developments were widely anticipated. Notably, the sub-group detail showed no boost to sentiment amongst groups that stand to benefit most from policy easing: sentiment amongst mortgage holders declined 3.3% in the month and sentiment amongst middle income earners was down 5.5%.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/Westpac%20Consumer%20Sentiment%20Survey.jpg" alt="">
Other aspects of the sub-group detail point to some notable ‘sub-plots’. The initial impact of the surprise Federal election result in May looks to be fading with sentiment amongst “Coalition voters retracing over three quarters of the 7.5% jump in June. Sentiment also recorded a big 14% drop in regional NSW where drought conditions have intensified markedly in recent months. Sentiment amongst those with a trade qualification was also down a sharper 7.6% suggesting the residential construction downturn may be starting to weigh more heavily on some households.
Increasing concern about the economy is undermining consumers’ sense of job security. Confidence in the labour market continued to deteriorate sharply in July. The Westpac-Melbourne Institute Unemployment Expectations Index recorded a 5.8% rise, following on from a similar rise last month and taking the index materially above its long run average for the first time since mid-2017 (recall that higher readings indicate that more consumers expect unemployment to rise in the year ahead). Expectations have shown a more marked deterioration in NSW, Vic and WA.
Housing-related sentiment continues to show a clearer positive response to lower interest rates with assessments of both ‘time to buy’ and house price expectations recording strong increases in July.
The ‘time to buy a dwelling’ index rose 5.4% 123.2, the first above trend reading in four and a half years. The index is up 19.5% on the same time last year. The biggest turnaround continues to come in Sydney and Melbourne where substantial price corrections have also improved affordability over the last two years.
The Westpac-Melbourne Institute Index of House Price Expectations Index posted another robust 8.9% increase following last month’s spectacular 22.7% gain. At 119.4, the Index is now at its highest level since May last year but still below the long run average read of 125. All states have recorded sharp rises over the last two months and net positive reads comfortably over the 100 mark. Just over 40% of consumers expect prices to be higher in a year’s time – that compares to less than 20% back in March.
The Reserve Bank Board next meets on August 6. We expect the Bank to leave the cash rate on hold at this particular meeting but see further easing coming later in the year. Having delivered back to back 25bp cuts in June and July, the Reserve Bank has signalled that it is prepared to ease further “if needed”. Updated forecasts released in the August Statement on Monetary Policy, due August 8, will give the best guide to how the RBA sees the case for further policy action. At this stage it seems likely that the Bank will make only minor changes to its growth and inflation forecasts, suggesting policy will be unchanged at the August meeting.
However, policy is set to be in play at every Board meeting between now and the end of the year. Westpac continues to expect a further 25bp rate cut, most likely coinciding with a downgrade to the Bank’s growth and inflation forecasts in November. The specific timing of this next move remains highly uncertain – labour market developments could easily shift it around and there are other factors at play, both overseas and domestically. The Bank will also be monitoring policy sensitive sectors such as housing and the consumer closely to gauge the impact of its easing to date. On that count, updates on consumer sentiment clearly show interest rate moves have shored up confidence in the housing market but have not prevented a wider deterioration in sentiment.
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jrobinson-rf4aSBido9

Sentiment falls 4.1% despite interest rate cuts and tax relief: Westpac

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NAB Economics have forecasted Sydney and Melbourne house prices to both decline over eight percent over 2019.
Melbourne is forecasted to see falls greater than Sydney.
Houses in the Victoria capital are expected to fall 8.8%, compared to Sydney's 8.4%.
The forecasts mean NAB expect Sydney house prices to fall 20% peak to trough, with Melbourne 15%.
NAB expect house prices in the two biggest property markets to continue to decline in 2020, just at a much slower rate.
<a href="https://www.propertyobserver.com.au/images/2019/4/11/nab%20economics%201%20.jpg" target="_blank">Click here </a>to enlarge:
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Hobart and Adelaide are the only capital cities forecasted to see house prices growth in 2019.
"Overall, we see the adjustment in house prices continuing in an orderly manner, with prices remaining well up on 5 years ago," NAB said.
NAB expect Sydney's unit prices to be the worst performing over 2019, with 7.2% declines forecasted.
Melbourne's declines are set to be softer at 4.3%, below Perth (-4.7%) and just above Brisbane (-4.2%).
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Market sentiment among 300 surveyed property professionals ticked a little in higher Q1 2019 as the monthly rate of house price decline eased in the first three months of the year.
The NAB Residential Property Index rose five points to a still very weak -15 as house prices in much of the country continued falling.
Sentiment was negative in all states bar South Australia and the Northern Territory (where annual dwelling prices in SA remain positive) and remained weakest in NSW and VIC where price falls were biggest.
Confidence was unchanged for the next 12 months, suggesting that market momentum will remain weak into 2020, however longer-term confidence improved with suggestions housing market conditions may start improving moving into 2021.
<a href="https://www.propertyobserver.com.au/images/2019/4/11/expert%201%20.jpg" target="_blank">Click here</a> to enlarge:
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Sydney property prices to decline by 20% from peak, with Melbourne down 15%: NAB

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EXPERT OBSERVER
In the latest March quarter survey only 8.8 per cent of respondents thought the ‘wisest’ place to put new savings was in ‘real estate’ – a record 46-year low.
The ‘wisest’ place for savings remains bank deposits (28.8 per cent of respondents) from ‘pay debt’ (26.3 per cent).
 Consumer confidence: The Westpac/Melbourne Institute survey of consumer sentiment index fell by 4.8 per cent to 98.8 in March after rising by 4.3 per cent to 103.8 points in February.
The sentiment index is back below its long-term average of 101.3.The consumer confidence figures have implications for retailers, and other consumer-focused businesses.
<div>
What does it all mean?
Aussie consumers remain super-conservative. When asked what was the wisest place to put new savings, ‘bank deposits’ and ‘paying-off debt’ were ranked number one and two. Understandably with home prices falling, real estate didn’t feature in the top places for new savings. In fact the result for ‘real estate’ was the lowest since the survey began in 1973.
Aussie consumers aren’t confronted with a lot of financial news in the mainstream media nowadays. But when it is published it tends to be bad news. Last week consumers would have heard that the Australian economy slowed in the December quarter, that the Australian dollar had fallen to US70 cents, and that retail sales rose modestly in January. 
There was speculation about rate cuts. Understandably this was picked up in the ANZ-Roy Morgan confidence index yesterday and today’s Westpac-Melbourne Institute survey. Confidence does bounce from week-to-week and month-to-month. Before the latest drop, Aussie confidence levels were actually above longer-term averages.
Westpac noted: “Responses over the survey week show a marked drop-off after the national accounts update. Those collected before the March 6 release had a combined index read of 100.7. Those collected after the release had a combined read of 92.7, an 8 per cent fall.”
If consumers are pessimistic, they may reduce spending. But much depends on the strength of the job market (at present, it is quite strong) and consumer prices (inflation rate is low). So it is a case of being alert and not alarmed.
The good news is that more homebuyers believe that now is a good time to buy a home. The index is at 5-year highs, up 30 per cent from the mid 2017 low.
What do the figures show?
The Westpac/Melbourne Institute survey of consumer sentiment index fell by 4.8 per cent to 98.8 in March after rising by 4.3 per cent to 103.8 points in February. The sentiment index is back below its long-term average of 101.3. A reading above 100 denotes optimism. The survey of 1,200 people was conducted from March 4-8.
The current conditions index fell by 2.8 per cent and the expectations index fell by 6.2 per cent.
All five of the components of the index fell in March after all rose in February:
<ul>
<li>The estimate of family finances compared with a year ago fell by 5.6 per cent to 84.4;</li>
<li>The estimate of family finances over the next year fell by 5.9 per cent to 107.8;</li>
<li>Economic conditions over the next 12 months fell by 7.0 per cent to 101.4;</li>
<li>Economic conditions over the next 5 years fell by 5.5 per cent to 94.6;</li>
<li>The measure on whether it was a good time to buy a major household item fell by 0.6 per cent to 117.9.</li>
</ul>
Housing outlook: A good time to buy a dwelling? The index rose 3.5 per cent to 112.7, and was up 11.5 per cent on the year. House price expectations fell by 2.7 per cent to 85.4 and were down by 34.1 per cent on a year ago.
Unemployment expectations: Unemployment expectations rose by 8.9 per cent to 130.6 in March to be up by 7.2 per cent over the year.
Wisest place for savings: On the question of the ‘wisest place for savings’, banks (28.8 per cent) led the way from paying down debt (26.3 per cent). Only 8.8 per cent of respondents selected real estate while 7.5 per cent nominated shares. Overall a record 51.7 per cent suggested choices for putting savings other than traditional real estate, bank deposits, building society deposits, bonds or shares.
What is the importance of the economic data?
Westpac and the Melbourne Institute release the Index of Consumer Sentiment each month. According to Melbourne Institute: “The survey of consumer sentiment was first undertaken in 1973 and was conducted on a quarterly basis until 1976, a six-weekly basis from 1976 to 1986, and has been conducted monthly ever since.” Confident consumers may be more inclined to spend, especially on major items.
What are the implications for interest rates and investors?
Consumer confidence ebbs and flows over time, but the job market remains in strong shape. Provided unemployment remains low, job opportunities abound and wages tilt higher then consumers will continue to embrace ‘retail therapy’.
Consumers may currently prefer to put savings in other places than real estate but that could be about to change. The reading on whether it was a good time to buy a home has lifted to 4-year highs. Low interest rates, softer home prices and a strong job market are a heady mix of positive influences, balanced against a raft of new housing supply in the process of hitting markets.
CommSec doesn’t expect a change in official interest rates for the foreseeable future.
CRAIG JAMES is the Chief Economist at CommSec
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Real estate sentiment hits 46-year low: CommSec's Craig James

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Commercial property sentiment moderated for the second consecutive quarter, according to NAB’s latest index, though overall confidence improved in the September and the index is expected to rise to +38 in the next 12 months.
NAB’s Commercial Property Index was down 5 to +18, but remains above long-term average levels. 
“Although sentiment was above long- term averages in all markets (except CBD hotels), it continues to vary widely by property type,” said an accompanying release. 
The uptrend in office that started in mid- 2016 reversed in Q3 (down 11 to +28), with weaker outcomes reported in all states except WA (but still negative). 
<a href="https://www.propertyobserver.com.au/images/2017/10/18/NABCommPropMain.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/10/18/NABCommPropMain.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/10/18/NABCommProp2.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/10/18/NABCommProp2.png" alt="">
NSW leads in office markets (with sentiment at very high levels), followed by Victoria. 
CBD hotels re-emerged as the most positive sector (up 9 to +30). Retail market sentiment was also higher (up 6 to +12) and lifted in all states (bar WA &amp; NSW) with QLD leading the way. Industrial sentiment softened (down 15 to +2) - with sentiment lower in all states except WA (but negative). 
Overall confidence levels in commercial property markets improved in the September quarter - the index is now expected to rise to +38 in the next 12 months (from +30 previously) and +43 in 2 years’ time (+35 previously). 
“Confidence levels among surveyed property experts lifted in all sectors - most noticeably in the CBD hotels sector - which is likely reflecting strong fundamentals in key CBD markets, especially Sydney,” it said. 
Overall confidence levels in office were also slightly higher in Q3 as weaker (but still vey strong) outcomes in NSW and Victoria were offset by improvements all other states (particularly WA). 
In retail markets, confidence increased, with gains in all states. 
In the industrial property sector, gains were largely in WA and Queensland, with experts in the industrial property sector in Queensland also still the most confident of all states, and confidence levels in WA improving the most (but from very low levels). 
By state, lower overall sentiment was dragged down by NSW and Victoria. 
Sentiment lifted in SA/NT and WA (but negative) and was steady in Queensland. The state index for NSW fell (13 to 34), and was lower in all sectors. 
In Victoria (down 13 to +29) the index fell in Office and Industrial, offsetting an improvement in Retail. Sentiment continued to recover in WA (up 11 to -29), recording its strongest read since late-2014 (but still negative). Property experts in NSW and VIC were also less confident in the Q3 survey - but remain the most upbeat of all states in the next 1-2 years. 
Queensland is however bridging the gap, with confidence levels rising in all market sectors. Confidence in SA/NT also lifted solidly (from a small sample size) led by better outcomes in Office and Retail. In WA, confidence levels also improved - and in all sectors with a particularly big uplift in the Office segment. 
On average, property experts have lifted their expectations for capital growth in the next 1-2 years in all sectors. Expectations are strongest for CBD Hotels (2.3% &amp; 2.4%), followed by Office (1.9% &amp; 2.3%), Industrial (0.9% &amp; 1.9%) and Retail (1.3% &amp; 1.1%). 
Capital growth expectations for Office property were pared back but are still highest in NSW (3.4% &amp; 3.2%) and Victoria (1.8% &amp; 2.8%). They were revised up in Queensland (0.8% &amp; 1.5%) and in WA (-0.1%&amp; 1.9%). QLD is expected to provided the best capital returns in Industrial markets (2.0% &amp; 3.5%), followed by NSW (2.1% &amp; 2.8%). 
Industrial capital values in WA are tipped to fall heavily next year (-1.9%) and grow in 2 years’ time (0.4%), with weaker growth also predicted for Victoria (0.9% &amp; 1.2%). Overall capital growth expectations in Retail improved again in Q3 (1.3% &amp; 1.1%), with Queensland and Victoria the stand out states. 
The national Office vacancy rate was unchanged at 9.7% in Q3. Vacancy rates were reportedly lowest in VIC (4.3%) and NSW (6.3%) where strong tenant demand and take-up is continuing. Vacancy rates in SA/NT (12.3%), Queensland (13.0%) and WA (15.0%) were however still elevated. In Retail, overall vacancy climbed to 5.7% in Q3 to its highest level since late-2014. 
Vacancy increased most in WA (8.0%) and was lowest in Queensland (4.7%). In Industrial markets, vacancy also climbed to a survey high 7.0%, mainly reflecting a significant increase in available space in WA (10.0%). Looking forward, Office vacancy is expected to drift down in the next 1-2 years, with market tightness most apparent in VIC &amp; NSW. Vacancy is also expected to improve in Queensland, SA/NT and WA, but remain high amid large supply over-hangs in WA. 
 
 
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