<section data-scroll-anchor="false" data-testid="conversation-turn-6" data-turn="assistant" data-turn-id="request-WEB:ca872054-bfe3-4cc5-a2c8-b373d4dfeafb-2" dir="auto">
A completed Castle Hill apartment development is returning to market with an uncommon level of financial backing, positioning it as one of the more secure options for buyers in Sydney’s north-west.

Skyview in Castle Hill, originally developed by Top Place and now overseen by capital partner <a href="https://www.apartments.com.au/developers/equitifund-group">Equitifund</a>, is being relaunched following a full remediation process. Central to its repositioning is a substantial financial reserve designed to provide ongoing protection and reduce uncertainty for incoming purchasers.

At the core of this offering is an $11 million bond secured during the project’s remediation phase, negotiated by former NSW Building Commissioner David Chandler. With less than $4 million required to complete the works, approximately $7.2 million remains in reserve, with around 15 years left on the term.

[smartcode_project:default project_id=147685 project_image_fid=359134]

Rather than a typical insurance-backed structure, the remaining funds are held as cash, creating a readily accessible financial buffer should any future building issues arise. The structure is intended to provide buyers with an added layer of certainty, differentiating the development from more conventional apartment offerings.

Equitifund Executive Chairman Greg Huxley said the structure provides a level of security not typically seen in apartment developments.

“The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers,” Huxley said.

“Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind.”

[smartcode_project:default project_id=147685 project_image_fid=359135]

The remediation process has now been completed in full, with no active rectification orders or outstanding directives linked to the project on NSW Government registers. This outcome reflects the broader tightening of building oversight across the state, while also highlighting the project’s transition into a completed, compliant asset.

In a market where many buyers remain cautious about apartment quality, initiatives like this are designed to restore confidence, giving purchasers greater certainty and a stronger sense of security in their investment.

Equitifund has since acquired the remaining apartments and is managing their reintroduction to the market. With the works finalised and a significant financial reserve in place, the project now presents with a markedly different risk profile compared to its initial release.

[smartcode_project:default project_id=147685 project_image_fid=359137]

Beyond the added security, the development is positioned in one of Castle Hill’s more established pockets. The Gay Street address places it within close proximity to Castle Towers, one of the country’s largest retail centres, as well as Castle Hill Metro Station, which now connects directly to the broader Sydney Metro network.

Equitifund National Sales Director Ben Hamblett said buyer demand in the area continues to be driven by access to transport and amenity.

“Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre,” Hamblett said.

“There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living.”

[smartcode_project:default project_id=147685 project_image_fid=359145]

The apartments also enter the market at a relatively accessible price point for the area, with two-bedroom configurations starting from $995,000 and rental demand for similar stock reaching around $900 per week. This combination of pricing, connectivity, and completed status is expected to appeal to both owner-occupiers and investors seeking lower-risk entry into the Hills District apartment market.

For eligible buyers, a limited 3.50 per cent p.a. two-year fixed interest rate is currently available through Equitifund’s lending partners, providing an additional layer of affordability.

EquitiCredit Pty Ltd ACN 676 363 769 holds ACL 559289 and provides credit assistance. Finance is arranged through EquitiCredit and funded by its lending partners. Interest rates are subject to change and eligibility criteria apply. Terms, conditions, fees and charges may apply. This is not financial advice and should not be relied upon as such. Prospective buyers should seek independent financial advice.

[smartcode_project_cta:default project_id=147685]
</section>

Joel Robinson

Castle Hill apartments offering unmatched buyer protection through dedicated fund

A State-Assessed Rezoning Proposal for the Kurnell Peninsula is now on public exhibition, setting out a plan to deliver up to 4,300 homes alongside new retail, tourism and public open space on a 210-hectare coastal site.

The proposal, backed by the Minns Labor Government, would transform a former sand mining area along Captain Cook Drive into a mixed-use precinct delivered over approximately 20 years.

In addition to housing, the plan includes more than 7,000 sqm of retail and commercial space, new community facilities and approximately 116 hectares of open space, equating to more than half the site.

<img alt="Kurnell" data-entity-type="file" data-entity-uuid="ce1c6567-1df0-4de0-9fe5-a76be0367834" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-13%20at%209.11.51%E2%80%AFAM_0.png?VersionId=dbbTmYaJvROA5fkQbgaxis8cmFwtpB5_" />

<hr data-end="849" data-start="846" />
<h2 data-end="902" data-section-id="ony3l3" data-start="851">Rezoning framework enables mixed-use development</h2>

The rezoning application seeks to amend planning controls under the State Environmental Planning Policy (Precincts—Central River City) and the Sutherland Shire Local Environmental Plan 2015.

Its primary objective is to enable a broader range of land uses across the site, including residential, employment, tourism and community uses, while also formalising environmental protections and land management outcomes .

The proposal has progressed through the state-led rezoning pathway after being identified as a project of regional significance, supported by several years of technical studies and agency consultation .

Development would occur in stages, aligned with the progressive closure and remediation of the existing sand mine.

<hr data-end="1718" data-start="1715" />
<h2 data-end="1768" data-section-id="krwii9" data-start="1720">Master plan structured around three precincts</h2>

The accompanying urban design report outlines an indicative master plan that divides the site into three primary precincts, anchored by a town centre in the western portion of the site.

The town centre is planned as the first stage of development, located on land that has already been remediated. It is intended to accommodate higher-density housing, retail, and community uses.

<img alt="Kurnell" data-entity-type="file" data-entity-uuid="4bfd5873-4847-4105-b220-0a30c96f5573" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-13%20at%209.20.09%E2%80%AFAM.png?VersionId=7aVaSsZLAc6mElSH4g6Ct5bGsNxZcnPL" />

Additional precincts extend toward Bate Bay and Boat Harbour, with built form responding to environmental conditions and proximity to the coastline.

The design framework identifies distinct local character areas, with the master plan structured to reflect “unique natural qualities” across the site.

<hr data-end="2495" data-start="2492" />
<h2 data-end="2544" data-section-id="1vitwqn" data-start="2497">Open space forms core of the design approach</h2>

A key component of the proposal is the allocation of approximately 116 hectares to open space and ecological land.

This includes:

<ul data-end="2846" data-start="2678">
	<li data-end="2702" data-section-id="d96caj" data-start="2678">Three district parks</li>
	<li data-end="2723" data-section-id="17y6uz6" data-start="2703">Nine local parks</li>
	<li data-end="2741" data-section-id="14hui00" data-start="2724">Sports fields</li>
	<li data-end="2778" data-section-id="ts7psx" data-start="2742">Coastal and ecological corridors</li>
	<li data-end="2846" data-section-id="agduax" data-start="2779">Two kilometres of publicly accessible beachfront along Bate Bay</li>
</ul>

The urban design report positions this open space network as central to the structure of the development, rather than ancillary to it.

It is intended to support ecological regeneration, provide recreational amenity and create a connected network across the peninsula.

The plan includes north–south ecological corridors, expanded wetland systems and pedestrian and cycling links designed to connect residential areas to the coastline and open space areas .

<hr data-end="3347" data-start="3344" />
<h2 data-end="3381" data-section-id="ql66rt" data-start="3349">Housing mix and affordability</h2>

The proposal includes approximately 4,300 dwellings across a range of housing types.

This includes high-density apartments, medium-density housing, townhouses and seniors housing.

Affordable housing provision is identified at approximately 240 dwellings, alongside a smaller component of social housing.

The master plan emphasises housing diversity, with the intent of accommodating a range of household types and age groups within the development.

<img alt="Kurnell" data-entity-type="file" data-entity-uuid="d4baba4d-b5b0-4a86-bcad-5d319b036184" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-13%20at%209.11.59%E2%80%AFAM.png?VersionId=udYFz0q8tjEPR3pmKLHRSFRJN4dKakPO" />

<hr data-end="3877" data-start="3874" />
<h2 data-end="3919" data-section-id="rgckdv" data-start="3879">Built form controls and height limits</h2>

Proposed building heights across the site range from three to 12 storeys.

These controls are set out within the rezoning application and are intended to manage visual impact, maintain view corridors and ensure compatibility with the coastal landscape.

Floor space ratios and height limits are applied across different parts of the site to reflect varying environmental conditions and proximity to open space and the coastline .

Higher density is generally concentrated within the town centre, with lower-scale development toward the coastal edge and environmentally sensitive areas.

<hr data-end="4548" data-start="4545" />
<h2 data-end="4588" data-section-id="1minlda" data-start="4550">Retail, tourism and employment uses</h2>

In addition to residential development, the proposal includes retail, commercial and tourism uses.

This includes:

<ul data-end="4896" data-start="4706">
	<li data-end="4775" data-section-id="1jrun76" data-start="4706">Approximately 7,000–9,800sqm of retail and commercial floor space</li>
	<li data-end="4803" data-section-id="10kyifw" data-start="4776">A full-line supermarket</li>
	<li data-end="4830" data-section-id="fz1hdg" data-start="4804">Food and beverage uses</li>
	<li data-end="4896" data-section-id="1aqg2fj" data-start="4831">Tourism accommodation, including hotel and short-stay options</li>
</ul>

The proposal also identifies employment outcomes, with the development expected to support jobs both during construction and in ongoing operations.

These uses are concentrated within the town centre and key activity areas across the site.

<hr data-end="5142" data-start="5139" />
<h2 data-end="5172" data-section-id="162x2kt" data-start="5144">Infrastructure and access</h2>

The proposal includes upgrades to Captain Cook Drive, which provides the primary access to the peninsula.

These upgrades are intended to improve traffic flow and support emergency access.

The transport strategy also incorporates:

<ul data-end="5529" data-start="5407">
	<li data-end="5433" data-section-id="fanquy" data-start="5407">Internal road networks</li>
	<li data-end="5469" data-section-id="o6y80y" data-start="5434">Walking and cycling connections</li>
	<li data-end="5529" data-section-id="jgraft" data-start="5470">Proposed public transport routes and bus stop locations</li>
</ul>

The rezoning report includes detailed analysis of transport, flooding, and infrastructure requirements to support the staged development of the site .

<hr data-end="5723" data-start="5720" />
<h2 data-end="5769" data-section-id="14urh3" data-start="5725">Environmental and cultural considerations</h2>

The site is identified as having environmental and cultural significance, including areas of ecological value and Aboriginal archaeological sensitivity.

The proposal includes measures to protect and enhance these areas, including:

<ul data-end="6230" data-start="6004">
	<li data-end="6056" data-section-id="1pzyouo" data-start="6004">Retention and regeneration of coastal vegetation</li>
	<li data-end="6100" data-section-id="bjn2vz" data-start="6057">Strengthening of biodiversity corridors</li>
	<li data-end="6148" data-section-id="1bpeyoj" data-start="6101">Protection of riparian systems and wetlands</li>
	<li data-end="6230" data-section-id="lg0cka" data-start="6149">Integration of cultural interpretation and recognition of Indigenous heritage</li>
</ul>

The urban design report also outlines opportunities for incorporating Indigenous cultural elements into public spaces and landscape design.

<hr data-end="6893" data-start="6890" />
<h2 data-end="6908" data-section-id="w7rk5f" data-start="6895">Next steps</h2>

The proposal is currently on public exhibition, with submissions open to the community. Feedback received during this period will inform the Department of Planning’s assessment of the rezoning.

If approved, the rezoning would establish the planning framework for future development applications across the site.

<hr data-end="6893" data-start="6890" />
<h2 data-end="6908" data-section-id="w7rk5f" data-start="6895">What the NSW Government says</h2>

Minister for Planning and Public Spaces Paul Scully said the planned closure of the sand mine and remediation of the Kurnell Peninsula presents an exciting opportunity to transform the area.

“This proposal envisions a vibrant new beachfront community with thousands of new homes, jobs and great open space in the Sutherland Shire. I encourage the community to have their say during the public exhibition period. Feedback from the community will play an important role in the assessment of the proposal.”

Sydney's newest beachfront city: NSW Gov to unlock 4,300 new homes on Kurnell peninsula

A long-awaited transformation of a former industrial site in Holroyd has been given the green light, with the NSW Government approving the $1.2 billion Crescent Parklands masterplan that will deliver more than 1,200 new homes just south of Parramatta.

The State Significant Development approval clears the way for a large-scale mixed-use precinct at <a href="https://www.apartments.com.au/new-apartments/1-crescent-street-holroyd-nsw-2142">1 Crescent Street</a>, replacing an underutilised site with a coordinated residential community anchored by new open space, retail, and commercial uses.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> for WA-based developer Tiberius, the approved scheme comprises seven buildings arranged across two precincts. In total, the development will deliver 1,227 apartments, including 201 allocated as affordable housing, alongside approximately 2,500 sqm of retail and 5,000 sqm of commercial space within a mixed-use podium.

<img alt="Tiberius’ Crescent Parklands to deliver 1,200+ homes in major Holroyd transformation" data-entity-type="file" data-entity-uuid="1cc82dd2-8184-4b86-8665-90653147820d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Crescent%20buildings.png?VersionId=2ZmVDc_Rfc4AzQ6ShzZJlvdZnACLerVM" />

The project is structured as a masterplanned precinct rather than a standalone tower. Buildings 1 to 4 will rise from a shared podium with shop-top housing, while Buildings 5 to 7 are positioned closer to the northern park interface as residential flat buildings. The built form has been carefully modulated to balance density with amenity, with the design resolving building separation, solar access, and wind impacts at a precinct scale.

A significant focus of the design is the activation of Crescent Street and the integration of public domain. The submission notes that “individual townhouses [were] removed for community based functions to Crescent Street to increase activation and surveillance,” reinforcing a more urban and publicly engaged street edge. Retail, commercial tenancies, and resident amenity spaces are concentrated along this frontage and within the podium to support day-to-day activity.

The landscape strategy underpins the project’s identity, with a network of pedestrian connections, landscaped corridors, and open spaces linking the site internally and to its surroundings. The design prioritises permeability, delivering “increased uninterrupted flow between spaces for pedestrian access” and improved connections through to the adjoining parklands.

<img alt="Tiberius’ Crescent Parklands to deliver 1,200+ homes in major Holroyd transformation" data-entity-type="file" data-entity-uuid="19282454-ab2f-4e2c-866f-4b35cf4283d4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Crescent%20masterplan.png?VersionId=JQdWGYI5B5R1lzmK4omYOp_8KLPkT4Bv" />

Buildings within the western precinct are oriented toward the park, shaping a residential offering defined by proximity to open space. The design describes this approach as creating apartments “immersed in nature with apartments facing the park,” positioning the landscape as a central organising element of the masterplan.

The broader architectural response addresses both infrastructure and context, with taller elements capturing long-range views toward Parramatta while setbacks and separation distances mitigate impacts on surrounding residential areas. Sustainability initiatives, including solar optimisation, cross-ventilation, and integrated landscape systems, are embedded across the scheme.

Located approximately one kilometre south of Parramatta CBD, the 3.6-hectare site is bounded by Crescent Street, Woodville Road, and Holroyd Sportsground. It benefits from strong access to public transport, including nearby bus routes and train stations, and sits within a rapidly evolving corridor earmarked for increased residential density. The design also strengthens connections between surrounding green spaces, including Holroyd Sportsground and Parramatta Parklands.

The approval follows several years of planning, including a rezoning process that enabled significant uplift in height and density across the site. With determination now secured, Crescent Parklands is positioned to play a major role in delivering new housing supply within Greater Parramatta’s growth area.

Tiberius’ Crescent Parklands to deliver over 1,200 homes in major Holroyd transformation

A new State Significant Development application has been lodged over land at <a href="https://www.apartments.com.au/new-apartments/33-43-marion-street-parramatta-nsw-2150">33–43 Marion Street</a>, Parramatta, proposing a high-rise mixed-use tower that leverages planning incentives to deliver a substantial pipeline of new housing, including a dedicated affordable component.

The scheme, currently on exhibition, combines a shop-top housing development with a concurrent rezoning, positioning the site for a significant uplift in density within Parramatta’s evolving southern CBD fringe.

The proposal, designed by <a href="https://www.apartments.com.au/architects/fuse-architecture-0">Fuse Architects</a> for CN Marion, would replace the existing buildings with a 37-storey mixed-use tower, delivering 296 apartments above a retail podium with six basement levels on the 2,376 sqm site.

The residential mix comprises 58 one-bedroom, 207 two-bedroom, and 31 three-bedroom apartments, with communal facilities located on the second level and the rooftop. Ground-level activation is driven by retail and food and beverage tenancies, alongside a publicly accessible through-site link designed to improve pedestrian permeability.

The project includes 194 car spaces, five motorcycle spaces, and 348 bicycle spaces, reflecting a transit-oriented approach in a location directly adjacent to the rail corridor and within walking distance of Harris Park Station.

<img alt="First Look: Plans lodged for 37-storey mixed-use tower with affordable housing at 33–43 Marion Street, Parramatta" data-entity-type="file" data-entity-uuid="3db873ea-62f0-437b-8a6a-eeda154d2dee" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Marion%20building.png?VersionId=YwzBv8OVHwyRnMLGX4slU7QyhTyMZeOX" />

The design adopts a podium-and-tower composition, with a three-storey street wall addressing Marion Street and a reduced two-storey interface responding to adjoining heritage cottages.

A key component of the proposal is the integration of affordable housing under the NSW Government’s in-fill affordable housing pathway, with units to be retained for a minimum of 15 years. This is paired with a broader public domain strategy that emphasises permeability, deep soil planting, and a landscaped through-site link.

“The strategy prioritises a permeable, well-activated public realm and supports a compact tower form to minimise the building’s footprint while enhancing the quality of the ground-level experience,” the design report states.

The proposal includes a central landscaped courtyard, rooftop communal areas, and planting strategies aligned with local environmental conditions and cultural narratives.

<img alt="First Look: Plans lodged for 37-storey mixed-use tower with affordable housing at 33–43 Marion Street, Parramatta" data-entity-type="file" data-entity-uuid="f0e6c165-9967-4d20-9216-e5b8357c85ba" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Marion%20site.png?VersionId=SRod222LwgDmGZJmJY0wTbK39UrWZLSD" />

The site occupies a prominent corner of Marion and Station streets, roughly 100 metres from Harris Park Station, within a precinct earmarked for significant intensification. While the immediate context is characterised by low- to mid-rise buildings and heritage dwellings, planning controls and recent proposals point to a transition toward high-density development.

<section data-scroll-anchor="false" data-testid="conversation-turn-2" data-turn="assistant" data-turn-id="request-WEB:c78224e4-1dd1-48ac-afda-97fe23bac47e-0" dir="auto">
Parramatta has been starved of new apartment supply in recent years. Builder-developers Deicorp and Coronation are the only two currently progressing projects in the suburb. Coronation is nearing completion of <a href="https://www.apartments.com.au/new-apartments/8-phillip-street-2-10-phillip-street-parramatta">8 Phillip Street</a>, which will be the tallest building in Western Sydney once finished, while Deicorp is delivering <a href="https://www.apartments.com.au/new-apartments/cosmopolitan-by-deicorp-parramatta-34-hassall-street-parramatta-nsw-2150">Cosmopolitan</a>, a development comprising over 600 apartments.
</section>

First Look: Plans lodged for 37-storey mixed-use tower in Parramatta

A substantial uplift in height and density is being tested in Lane Cove, with a 225-apartment scheme at 300 Burns Bay Road now on public exhibition as a State Significant Development alongside a concurrent rezoning.

The proposal by <a href="https://www.apartments.com.au/developers/level-33">Level 33</a> would see the demolition of an existing commercial building and associated structures, replaced by a residential development ranging from seven to 15 storeys.&nbsp;

The scheme delivers 225 apartments, including 34 designated as affordable housing, positioning it within the NSW Government’s accelerated Housing Delivery Authority pathway.

The development is arranged as three interconnected residential flat buildings, a response to the site’s long, narrow configuration and sloping topography.&nbsp;

<img alt="First look: 225-apartment Lane Cove tower proposal enters exhibition under State Significant pathway" data-entity-type="file" data-entity-uuid="c325d40c-ead5-45f4-9d77-5a446b23acc0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Lane%20Cove%20pers.png?VersionId=hsCJxT5hj.5kzA6AMInyan1x8mcHeRez" />

<a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a>, the project’s designer, describe a built form that is “divided into three sections, each connected by intermediate infill slots which are recessed to establish greater setbacks and further articulate the development.”

Across the scheme, apartments are supported by communal amenity at ground and rooftop levels, including landscaped open space and a rooftop pool. Basement and lower ground levels accommodate parking, storage, and building services, while a new public park is proposed along the eastern edge of the site, replacing part of the existing built form.

The architectural response has been shaped by the site’s pronounced fall towards the Lane Cove River, with building heights stepping down from west to east to reduce visual bulk and respond to adjoining bushland.&nbsp;

The design report notes that “the development has been carefully designed to integrate with the existing topography with the placement of massing and floor levels adjusted respecting the site’s inherent characteristics.”

<img alt="First look: 225-apartment Lane Cove tower proposal enters exhibition under State Significant pathway" data-entity-type="file" data-entity-uuid="31cc13a5-bc8b-4dc3-b9b1-07c6ec33a82b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Lane%20cove%20site.png?VersionId=NiyH3LimQwiHsE6Q7I5g4Grpr5fRdZaX" />

The project is being advanced through a concurrent rezoning process, seeking to increase the permissible height and floor space ratio beyond current Lane Cove LEP controls of 21 metres. Under the proposal, height would reach up to 54.5 metres, reflecting a shift toward higher-density outcomes in well-located urban areas.

Located on a 7,595 sqm site, the development sits within an established high-density residential pocket characterised by mid-rise apartment buildings set within a bushland setting. The site is within close proximity to Burns Bay Reserve, the Lane Cove River, and an extensive network of open space, reinforcing its strategic positioning for increased housing supply.

Level 33 is doing through the Housing Delivery Authority to try and get its Homebush project of <a href="https://www.apartments.com.au/news/nsw/level-33-adds-to-2-000-unit-pipeline-with-new-two-tower-homebush-plans">more than 300 apartments approved</a>.

The developer has over 2,000 apartments in the pipeline, predominantly in Wollongong.

First look: Level 33 proposes 225-apartment Lane Cove tower

Survey

<html><body>
<div>NAB releases its June 2015 Business Survey which revealed some interesting results, with unemployment now expected to peak at 6.25% and other near term data strengthening.</div>
<div> </div>
<div>Business conditions trending higher moving up strongly from +5 to +11, the highest level since last October and well above the long run average.</div>
<div> </div>
<div><a href="/images/2015/07/15/Nab1.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div><img src="/images/2015/07/15/Nab1.jpg" alt=""></div>
<div>Business confidence is also back up to its post election peak, moving up nicely from +8 to +10, with the highest recording now to be found in retail (the lowest confidence, of course, is in mining):</div>
<div> </div>
<div><a href="/images/2015/07/15/Nab2.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div><img src="/images/2015/07/15/Nab2.jpg" alt=""></div>
<div> </div>
<div> </div>
<div>And trading conditions booming:</div>
<div> </div>
<div><a href="/images/2015/07/15/Nab3.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div><img src="/images/2015/07/15/Nab3.jpg" alt=""></div>
<div> </div>
<div> </div>
<div>
<div>The forward orders index also rose from +2 to +5.</div>
<div> </div>
<div>Buffers</div>
<div> </div>
<div>On the other hand, consumer confidence has been ticked a little lower lately, which has led in turn to some remarkable loan "arrears" data.</div>
<div> </div>
<div>The average homeowner is now so far ahead on mortgage repayments that loans buffers are better measured in years than months. </div>
<div> </div>
<div>It's amazing how often this theme is recurrent with clients I speak to.</div>
 The full NAB survey can be found <a href="https://business.nab.com.au/wp-content/uploads/2015/07/NAB-Business-survey-June-15.pdf" target="_blank">here</a>.
</div>
<div> </div>
<div>
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>. 
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.
</div>
</body></html>

pwargent-M4siyDbqQY

NAB business survey - an upside surprise: Pete Wargent

<html><body>
Over 80 per cent of residential real estate agents around the world say the coronavirus pandemic has cut their 2020 earning expectations, according to the first international survey of real estate on the impact of the outbreak.
More than 60 countries took part in the Juwai IQI Market Intelligence 2020 survey, with every country citing a loss of earnings.
Real estate agents in Greece have the worst outlook.
Some 95 per cent of Greek agents expect the coronavirus pandemic to cut their earnings in 2020, with two-thirds of those forecasting they will earn "significantly less."
 
<img src="https://www.urban.com.au/images/2020/3/Screen%20Shot%202020-04-01%20at%2010.26.02%20am.png" alt="">
As well as Greece, more than four out of five agents in a further five countries expect to earn less in 2020 due to the coronavirus pandemic.
In Australia, 84% of agents expect to earn less in 2020, with 58% suggesting the impact on their earnings will be significant and only 27% expect it to be moderate. 
In Singapore, 88% of agents expect to make less.
The share of Singapore agents who expect to earn "a little less" is, at 47%, larger than the 41% who believe they will make "significantly less."
Malaysian and Philippine agents are the least pessimistic among those surveyed.
In Malaysia, 74% of agents expect to earn less in 2020, with 38% expecting to earn “significantly less” and 33% expecting to earn “a little less.”
In the Philippines, 68% of agents expect to earn less in 2020 due to the Coronavirus, with 38% expecting to earn “significantly less” and 30% expecting to earn “a little less.”
One of the strategies agents will use to preserve their incomes, according to the report, is to invest more in marketing to foreign buyers. Worldwide, 18% of agents report foreign buyers are one of their strategies.
Perhaps because of the relative significance of foreign buyers to their markets, agents in the Philippines and Portugal are the most likely to report plans to do so. In both the Philippines and Portugal, 26% of agents plan to increase their foreign buyer marketing.
In Malaysia and Thailand, 22% of agents will increase their investment in marketing to foreign buyers. In Greece, 21% of agents will do so. The share is 18% in Singapore, 16% in both Canada and Australia, and 12% in the USA.
 
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Coronavirus driving agents earnings down worldwide; Juwai IQI Market Intelligence 2020 survey

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The number of consumers who don’t think will be a good time to sell their home or investment property continues to out-weigh those who think it is, according to a new survey. 
NAB's latest Australian Consumer Anxiety Survey for Q2 2019 noted these results suggest many consumers still think the housing downturn could still have more to run.
In net terms, +32% said they thought now was a good time to buy a property to live in and +34% to renovate their home.
With house prices continuing to fall across the country, consumers who thought it wasn’t a good time to sell their home (-35%) or investment property (-33%) also continued to significantly out-weigh those who thought it was a good time to sell.
However, the net number who thought so was somewhat lower than in the previous quarter, suggesting that some consumers may believe the market is close to the bottom.
With downward pressures on interest rates, it also noted a large increase in the net number of consumers who thought it was a good time to get a mortgage on their home (+13).
<img src="https://www.urban.com.au/images/2019/6/26/Good%20time%20NAB%201.JPG" alt="">
Source: NAB Anxiety Report Q2 2019
On balance, slightly more consumers (+29%) believe it will be a good time to buy a property to live in over the next 12 months (+25% in Q1 2019), and +24% to renovate their home (+23% in Q1 2019).
The number of consumers who don’t think it will be a good time to sell their home (-15%) or investment property (-14%) continues to out-weigh those who think it is - but this has fallen since Q1 2019, suggesting more consumers are expecting market conditions to improve.
With widespread speculation for further interest rate cuts in 2019, those who think it will be a good time to take out a mortgage a mortgage for their own home (+10) also rose.
<img src="https://www.urban.com.au/images/2019/6/26/Good%20time%20NAB%202.JPG" alt="">
Source: NAB Anxiety Report Q2 2019
Consumer intentions around property are still overwhelming conservative.
The net number of consumers who said they didn’t intend to sell investment property (-83%), renovate an investment property (-81%), take out an investment loan (-79%), sell their home (-78%), buy investment property (-75%), take out a home loan (-74%) or sell the home they live in (-66%) far outweighed those who said they would.
Consumers were least negative about renovating their homes (-49%). Intentions remain overwhelmingly negative and conservative in all states - see table below.
<img src="https://www.urban.com.au/images/2019/6/26/Good%20time%20NAB%203.JPG" alt="">
Source: NAB Anxiety Report Q2 2019
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Australians still fear the property market has further to fall: NAB

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Over 40 percent of respondents of a recent survey said they were reliant on future house price growth to achieve future life / financial goals, with 10 percent completely reliant.
The study of 1500 Australian adults also saw 38 percent want prices to increase while 37 percent want them to fall.
Where you sit largely comes down to your property ownership status: 39 percent of those who own the home they live in and 47 percent who own an investment property indicated they are ‘reliant’ on future prices, presumably increasing, while 48 percent of those who don’t own a property also say they are reliant, presumably wanting prices to fall.
Younger respondents indicated they are more reliant on future house prices than older: 51 percent of Millennials (25 to 39 year olds) said they are reliant compared to 30 percent of Baby Boomers (55-74 year olds).
Most tellingly, the survey indicates more Australians would benefit from property prices falling than rising, with only 28 percent indicating they’d benefit by selling if prices continued to rise compared to 47 percent who said they’d benefit by buying in if property prices fell.
A quarter of home owners happy to see house prices to fall
ME home loan expert Patrick Nolan said he was surprised to find 37 percent of respondents want property prices to fall, including 24 percent of those who own a home and even 20 percent of those with an investment property, compared to 38 percent of who want prices to continue rising 38 percent.
“Traditionally Australians fall into two camps when it comes to property prices: owners, who want them to rise, and non-owners, who want them to fall.
“But with high prices disrupting the dream of home ownership and the benefits that brings, views are changing.”
“That property owners were willing to see asset values fall is a sure sign house prices had reached heights many think are unfair,” Nolan said.
When asked why they want prices to fall, the overwhelming reason given was to help address the housing affordability issue (57 percent), a sentiment expressed by 97 percent of those with property.
The bulk of those wanting house prices to continue rising are property owners: 49 percent of home owners and 55 percent of investors.
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New survey confirms the importance of property to Australians

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Regulatory moves to tighten lending to foreign buyers seem to be working, with their share in new property markets falling to a five-year low 9.5%,  according to a NAB index.
However, the share of foreign buyers edged up to 5.9% in established markets, albeit still near four-year lows. 
The figures are part of NAB’s Residential Property Survey for the quarter ended September. 
The data was cited by CoreLogic’s head of research Cameron Kusher.
“NAB's quarterly residential property survey indicates that there has been a big pullback in foreign demand for residential property,” Kusher tweeted. 
NAB’s note had said that “we have maintained our view for more muted market performance going forward, particularly following our revised expectations for RBA rate hikes which have been brought forward to mid-2018 (from H2 2019)”.
<a href="https://www.propertyobserver.com.au/images/2017/10/17/NABForeignDemand.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/10/17/NABForeignDemand.png" alt="">
Victoria had the lowest foreign buying activity in new property markets, where the share of sales to foreign buyers fell to 14.4% (20.8% in Q2). 
Foreign buyers were also noticeably less prevalent in NSW, where their market share fell to 7.8% - its lowest level since Q1 2012 and down from 12.0% in Q2. The proportion of foreign buyers in new property markets also fell in WA to 4.5% (6.9% in Q2). In contrast, foreign buyers increased their market share in Queensland to 11.4% (8.6% in Q2) despite the introduction of a foreign investor land tax surcharge in July 2017. 
<a href="https://www.propertyobserver.com.au/images/2017/10/17/NABgraph2.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/10/17/NABgraph2.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/10/17/NABgraph3.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/10/17/NABgraph3.png" alt="">
In established housing markets, the overall share of foreign buyers rose a little from 5.6% to 5.9% in Q3, but remained anchored at near 5-year lows. 
Foreign buyers accounted for a smaller share of sales in Victoria (8.0% in Q3 vs. 9.0% in Q2), NSW (5.6% vs. 5.9%) and WA (4.2% vs. 4.5%). 
In Queensland, however, they accounted for 6.7% of established property sales, up from 3.8% in Q2. 
 
 
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NAB survey indicates pullback in foreign buyers: CoreLogic's Cameron Kusher 

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The Stockland Liveability Index has found the most important factors in creating a liveable city is for it to be connected, healthy, smart and affordable.
The index is based on the results of a survey of 2,500 people that was conducted between January and March 2017 in partnership with Colmar Brunton.
Findings and relevance to the future direction of our cities will be discussed at a special event hosted by the Committee for Sydney featuring land use expert Professor Christopher Leinberger, Greater Sydney Chief Commissioner Lucy Turnbull AO, Stockland CEO and managing director Mark Steinert, and co-founder of Roberts Day, Mike Day.
Mark Steinert, Stockland managing director and CEO, said they are delighted to partner with the Committee for Sydney and bring Professor Leinberger to Australia at a time when as a nation we are rethinking the future of our cities, with a strong focus on liveability.
“For communities to be liveable, they need to be smart, healthy, connected and importantly, affordable," he said.
"The powerful emerging market trend toward walkable urban development in the US is one we expect to see replicated in Australia, as our cities continue their strong growth trajectories.
“Capturing and applying the insights from research by experts such as Professor Leinberger will help ensure our growth story is a positive one for the people who live, work and visit our metropolitan centres.”
Professor Leinberger’s 2016 report, Foot Traffic Ahead, shows that: “For perhaps the first time in 60 years, walkable urban places (‘WalkUPs’) in all 30 of the [US’] largest metros are gaining market share over their drivable sub-urban competition — and showing substantially higher rental premiums.”
Tim Williams, Chief Executive of the Committee for Sydney said governments at all levels are accelerating their efforts to shape the future of our cities, with a focus on ensuring we have the right infrastructure and public amenities in place to make them sustainable and liveable over the long-term.  
Mike Day, Co-Founder of Roberts Day, said with Sydney suffering from the overlapping crises of health and affordability, a key step to transform Sydney is creating walkable places.
"Walkable places offer people safety, comfort and delight," he said.
"Benefits of a walkable Sydney include creating a true 30 minute city to address the fact people of Western Sydney are three times more likely to suffer from diabetes than their inner-city counterparts.
“The emerging equity issue Sydney needs to address is people’s proximity to walkable places.
"By giving priority to walkable places as the new missing middle of Sydney’s density done well discussion, the added value of improved health, happiness and productivity, means everyone benefits.
“The obesity statistics present a significant challenge facing the liveability of Australian cities. 
“Our research shows us that if we work with government and other key stakeholders to fast-track schools, parks, childcare, cafés and shops, we can have a profound impact on the liveability of our communities and the health of residents.
"The social imperatives for doing so is compelling and is supported by equally clear commercial ones.
“The Federal Government’s Smart Cities Plan, as well as State planning policies including the recently-released Greater Sydney Commission District Plans, reflect the importance of liveability measures.
“The unique perspective offered by our Liveability Index is the voices of more than 2,500 residents – from the ground up, sharing their experiences of what makes a community work well.”
The Stockland Liveability Index provides three key lessons for cities:
1.     Provide opportunities for community interaction:
<ul>
<li>Parks, cafés, walkways, schools, children’s playgrounds, cycleways</li>
<li>Build in technology, to connect communities from the outset and enhance customer experience</li>
<li>Create links with the natural environment</li>
<li>Community programs, like parents’ groups and exercise classes, for community connection and physical exercise.</li>
</ul>
2.     Introduce well-designed neighbourhoods:
<ul>
<li>Smart design, with places that are walkable</li>
<li>Carefully plan all new homes to be close to childcare, schools, retail, parks and playgrounds</li>
<li>Access to employment, transport and health facilities.</li>
</ul>
3.     Deliver infrastructure early, where possible:
<ul>
<li>Fast tracking key infrastructure such as playgrounds, schools, public transport, parks,</li>
<li>outdoor exercise stations</li>
<li>Proven to generate high levels of resident satisfaction and community pride.</li>
</ul>
A recording of the discussion will be available at <a href="https://www.sydney.org.au" target="_blank">www.sydney.org.au</a>.
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Urban experts reveal key ingredients for successful cities

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Just under half of Aussies polled for a recent survey (48 percent) believe the property dream is still alive and well according to the CommBank Connected Future Report.
The report, based on the response of more than one million people, asked Australians about how they perceive their future, the property market, adapting to a changing workforce, and life for younger generations.
Just over half of the respondents (52 percent) said the Australian dream is being redefined.
Demographer and futurist Claire Madden authored the CommBank Connected Future Report.
She said a remarkable insight from the CommBank ATM data overall is the resilience and tenacity Aussies have in the face of economic uncertainty.
“As a lead example, while the Australian property dream looks markedly different in 2017, the majority of Australians either fully own or are paying off their home," she said.
“This has remained constant over the past five decades, so despite uncertainty, the Australian dream has clearly lived through time.
"The research shows while Millennials (Gen Y) are delaying traditional life markers like getting married or having a child, the average age of a first homebuyer has remained relatively constant over the last two decades, sitting at around 32 years of age.
<a href="https://www.propertyobserver.com.au/images/2017/06/14/Screen%20Shot%202017-06-14%20at%2011.09.10%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/14/Screen%20Shot%202017-06-14%20at%2011.09.10%20AM.png" alt="">
 
"The Australian ‘dream home’ is no longer a weatherboard standalone house. It is an architecturally designed product, as the quality of dwellings has risen over time.
"Whilst 74 per cent of those living in cities and 81 per cent of those outside capital cities currently live in a stand alone house, 48 per cent of new residential approvals over the past year have been for medium or high density housing.
"CommBank data reveals 68 percent of first home buyers purchased a house in the last year, 16 percent desire to build their architectural dream home after purchasing vacant land, and 15 percent purchased an apartment or townhouse.
<a href="https://www.propertyobserver.com.au/images/2017/06/14/Screen%20Shot%202017-06-14%20at%201.22.26%20PM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/14/Screen%20Shot%202017-06-14%20at%201.22.26%20PM.png" alt="">
"The data relating to the Australian property dream reveals that the state you live in impacts your state of optimism.
"The least optimistic were people residing in New South Wales (53 percent) and Victoria (54 percent), and this was significantly high with younger generations (57 percent in both states).
"Those in Queensland (51 percent), South Australia (53 percent), Western Australia (54 percent) and the Northern Territory (57 percent) believe the dream is more attainable.
"Gen Y have prioritised global travel, lifestyle experiences, stayed longer in formal education and attained the name KIPPERS (Kids in Parents’ Pockets Eroding Retirement Savings) for staying in the family home longer.
<a href="https://www.propertyobserver.com.au/images/2017/06/14/Screen%20Shot%202017-06-14%20at%201.24.11%20PM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/14/Screen%20Shot%202017-06-14%20at%201.24.11%20PM.png" alt="">
"Yet now they are in their prime career building and family forming years, they, like their predecessors, are finding a way to overcome the obstacles, respond to new realities, and see the (re)defined dream come alive.
"Even though the dream has taken a different form, the data reveals property ownership remains high on the aspirational list (average home buying age remains consistent at 32).
"With almost 3 in 10 Australians (29 percent) born overseas, and a quarter (27 percent) of the population’s labour force born overseas, immigration has significantly contributed to Australia’s workforce and economy.
"In the midst of this diversity, CommBank data reveals that almost half of Aussies (49 percent) believe that our society truly embraces everyone."
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Survey reveals under half of people believe that the property dream is still alive

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Respondents to a new survey from the Australian Property Institute believe residential property in Sydney and Melbourne is reaching the top of the property cycle and markets will remain in a similar position in Melbourne for a further 12 months and in Sydney for another two years.
The majority of respondents believe that interest rates will remain at similar levels for the next year, and be higher in 3 years. They also believe that foreign investment will be at similar levels for the six months, but uncertain of levels over the longer term.
<a href="/images/2016/12/07/Chart-1.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/07/Chart-1.jpg" alt="">
Mike Zissler, API chief executive officer, said a common view among respondents is that overall, demand is outperforming supply, ensuring residential markets remain strong.
<a href="/images/2016/12/07/Chart-2.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/07/Chart-2.jpg" alt="">
“Ninety-two per cent of survey respondents see low interest rates as a significant to very significant driver of Sydney residential property demand and prices," he said.
"The second most significant driver is supply, with 91 percent seeing it as significant to very significant.
<a href="/images/2016/12/07/Chart-3.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/07/Chart-3.jpg" alt="">
“In Melbourne, the two main drivers for residential property demand and prices are low interest rates (with 95 percent of respondents seeing them as a significant to very significant driver) and foreign investment (with 91 per cent of respondents seeing it as a significant to very significant driver).
<a href="/images/2016/12/07/Chart-4.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/07/Chart-4.jpg" alt="">
“Brisbane is similar to the Sydney market, with 95 percent of respondents seeing low interest rates as significant or very significant, and therefore the main driver of demand and prices in the city. Supply is considered the second most significant driver, with 80 per cent seeing it as significant to very significant.
“We also asked respondents about the drivers of demand in Perth. Low interest rates are again considered the most significant driver of demand and prices, however this view is not as strong as in the other cities, with 80 per cent seeing it as a significant or very significant driver.
“Results were split for Sydney, with 58 percent of respondents indicating residential property is in or is entering a bubble, while 42 percent indicate it is not in a bubble.
“Respondents were fairly certain of a bubble in the Melbourne market, with 86 percent of respondents indicating residential property is in or is entering a bubble, while 14 percent believe it is not in a bubble.
<a href="/images/2016/12/07/Chart-6.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/07/Chart-6.jpg" alt="">
“For Brisbane, 42 percent of respondents indicate that residential property is not in a bubble, 52 percent indicate that it is in or is entering a bubble and 5 per cent are unsure.
<a href="/images/2016/12/07/Chart-7.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/07/Chart-7.jpg" alt="">
"For Perth, respondents are more certain, with 90 percent indicating residential property is not in a bubble."
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Prices staying at top of property cycle: Australian Property Institute's property directions survey 

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Commercial property professionals continue to be confident over the next two years and sentiment is improving, the NAB Commercial Property Survey for Q3 shows.
The NAB Commercial Property Index rose 11 points to +16, with sentiment higher across the four surveyed sectors of Office, Retail, Industrial and CBD Hotels.
Market sentiment remained strongest in NSW, which rose 17 points over the quarter to +55 and Victoria (up 2 to +30), consistent with the stronger business conditions also exhibited in those states.
<a href="/images/2016/11/09/Commercial%20property%20index.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/09/Commercial%20property%20index.jpg" alt="">
In contrast, sentiment fell a further 6 points in Western Australia to -54.
“Stronger sentiment this quarter came despite moderations in business conditions over the quarter, as recorded by the NAB Quarterly Business Survey,” NAB senior economist Rob de Iure said.
“While sentiment has improved, gains are narrowly based on the eastern seaboard with NSW and Victoria outperforming the rest of the country in sentiment, capital growth and income returns.
“Looking forward, confidence levels from respondents were also high, with gains in the CBD Hotels, Office and Industrial sectors offsetting lower confidence in Retail – likely driven by weaker retail business conditions and subdued consumer spending.”
The Q3 Survey shows nearly two-thirds of all developers looking to start projects were looking at the residential sector, however only 34% planned to start work in the next six months – dropping to 18% in 18 months’ time.
<a href="/images/2016/11/09/Property%20table%201.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/09/Property%20table%201.jpg" alt="">
“Survey respondents may be telling us that the current housing construction cycle, particularly for high density properties, may slow in the coming two years,” Mr de Iure said.
“And while the number of property developers planning to source more capital to fund their development was broadly unchanged quarter-on-quarter, nearly half (48%) were unsure of their intentions over the next 12 months – up from 31% in the second quarter.”
In addition, the Survey found more property developers are using land-banked stock to start new work, which may reflect the high levels of building activity in the residential sectors and land shortages in some cities.
Property professionals on balance also report that it is getting harder to obtain debt and equity for their businesses – with professionals expecting access to funding to remain difficult for the next 6-12 months.
About 240 property professionals participated in the Q3 Survey.
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