Growing national developer Time &amp; Place has announced its fifth new apartment development.

With two projects in Manly and two upcoming in Surry Hills and Potts Point, the developer, which expanded beyond Melbourne just a few years ago, is now heading to Mosman. It is planning 53 new apartments on Redan Street.

The 3,233 sqm site, spanning <a href="https://www.apartments.com.au/new-apartments/40-48-redan-street-mosman-nsw-2088">40–48 Redan Street</a> with frontage to Redan Lane, is located just under 400 metres from Spit Junction Town Centre. It is reported the developer paid around $100 million for the five-site amalgamation.

Time &amp; Place, founded by Tim Price and backed by James Packer’s private investment firm NPACT, has submitted the project as a State Significant Development through the NSW Government’s Housing Delivery Authority pathway.

Of the 53 apartments, 42 will be released to the market, with the remaining 11 allocated as affordable housing in line with NSW Government requirements.

fjc Studio has designed the building. In its Design Report, the architect said the diverse mix of dwelling types and sizes, including 11 two-bedroom affordable housing units, 40 three-bedroom apartments, and two four-bedroom residences, will support a broad demographic, including families, downsizers, and key workers.

The development will rise to nine levels, a height encouraged by the NSW Government due to the site’s proximity to Spit Junction, which has been identified as a low- to mid-rise centre. Developments within a certain proximity to these centres are permitted increased height.

fjc said the project “achieves an appropriate density outcome for its setting by balancing increased housing supply with strong amenity performance,” adding that it “makes a measurable contribution to NSW housing supply targets through the delivery of additional dwellings and dedicated affordable housing.”

The new development will replace five existing two-storey homes.

“By aligning with the objectives of the Housing SEPP and applying careful architectural and urban design principles, the development provides high-quality residential accommodation that integrates sensitively within its established Mosman context and delivers enduring benefits to residents and the wider community.”

Mosman has become increasingly popular with developers in recent years.

Developer Abadeen has been particularly active, with Mosman Residences currently on the market and under construction on Clifford Street. It also has an upcoming Burran Avenue project, comprising just three apartments on the Balmoral Slopes, and recently secured the Midas and Honeysuckle nursery site on Military Road.

Prosker Property has a project on Redan Lane, just a few doors down from Time &amp; Place’s proposed development.

Developers including Toohey Miller, DARE Property Group, and WINIM also have projects underway in the area. In 2024, a five-year target was set for the Mosman LGA to increase housing supply by 500 dwellings by 2029.

Time &amp; Place entered the Sydney market with Two Tides, its under construction Manly development. Given its sales success, it has secured another development in the area, more boutique, facing the beach on North Steyne.

They are hoping to launch their redevelopment of The Chimes in Potts Point this year, and next year will look to take to market Marlborough House, an adaptive re-use of the landmark David Jones warehouse in Surry Hills.

Joel Robinson

Time & Place to take on Mosman apartment market

Brunswick’s civic heart continues to consolidate around the Merri-bek Arts and Culture Precinct, where a growing cluster of cultural institutions, recreation facilities, and public infrastructure has created one of the inner north’s most defined community hubs.&nbsp;

Within this evolving precinct, <a href="https://www.apartments.com.au/new-apartments/saxon-street-by-milieu-brunswick-31-saxon-street-brunswick-vic-3056">Saxon Street by Milieu</a> introduces new housing directly alongside the civic anchors that shape daily life in the suburb.

At 31 Saxon Street, the project sits immediately beside Brunswick Baths and within moments of Brunswick Library and Town Hall, longstanding institutions that support both community services and everyday amenity.&nbsp;

[smartcode_project:default project_id=136434 project_image_fid=348840]

Next door, the newly delivered Balam Balam Place arts precinct has emerged as a central piece of Merri-bek Council’s cultural strategy, bringing together creative studios, exhibition spaces, maternal and child health services, and community programming in a purpose-built civic facility. Together, these destinations have reinforced the surrounding blocks as a focal point for public life in Brunswick.

This part of <a href="https://www.apartments.com.au/developments/brunswick-vic-3056">Brunswick</a> forms a key pocket within the suburb’s designated Major Activity Centre, where long-term planning has prioritised walkability, civic investment, and increased housing supply close to transport and services. The surrounding street network reflects that strategy, with compact blocks, established retail corridors and active transport links supporting a lifestyle that is largely navigable on foot.

Within a few minutes’ walk, Sydney Road delivers one of Melbourne’s most recognisable streets, known for its long-running mix of independent retailers, international dining venues and everyday convenience. Tram routes along Sydney Road provide frequent connections south toward the CBD and north through Brunswick and Coburg, while Jewell Station on the Upfield line sits within roughly a ten-minute walk, offering direct train access into the city.

[smartcode_project:default project_id=136434 project_image_fid=348839]

Active transport also plays a significant role locally. The nearby Upfield Bike Path forms a key north–south cycling corridor linking Brunswick through Parkville and into the central city, reinforcing the area’s reputation as one of Melbourne’s most accessible inner-urban neighbourhoods for cyclists and pedestrians alike.

The surrounding civic cluster extends beyond cultural infrastructure. Siteworks, a nearby creative hub supporting artists and community organisations, adds to the concentration of cultural activity in the immediate area. Educational institutions such as Brunswick North Primary School, Brunswick Secondary College and RMIT’s Brunswick campus are also within easy reach, contributing to the suburb’s diverse resident base spanning families, students and professionals.&nbsp;

[smartcode_project:default project_id=136434 project_image_fid=348841]

Designed by <a href="https://www.apartments.com.au/architects/jackson-clements-burrows-architects">Jackson Clements Burrows Architects</a> in collaboration with <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> and landscape architects <a href="https://www.apartments.com.au/landscape-architect/oculus">OCULUS</a>, the nine-level building has been shaped to respond to the surrounding streetscape, with lower levels aligning to the street and upper storeys stepping back to soften its scale and improve solar access.&nbsp;

Curved balcony forms reference nearby heritage architecture, while the development’s public realm improvements include a widened footpath along Saxon Street to strengthen pedestrian connections between the precinct’s civic sites.

Sustainability also underpins the project’s approach. The building is designed to operate entirely on electric infrastructure supported by rooftop solar, with an average 7.5-star NatHERS energy rating and EV-charging readiness across the development. Shared resident amenities will include a landscaped rooftop terrace with barbecue and covered dining areas intended to encourage informal interaction between residents.

Saxon Street marks developer Milieu's fifth project in Brunswick and continues its focus on design-led infill housing across Melbourne’s inner suburbs.&nbsp;

Construction has commenced through reputable builder Manresa, who will complete the project in 2027.

[smartcode_project_cta:default project_id=136434]

Saxon Street by Milieu connects residents to Brunswick’s cultural and civic core

Within <a href="https://www.apartments.com.au/new-apartments/candela-ivanhoe-40-upper-heidelberg-road-ivanhoe-vic-3079">Candela Ivanhoe</a>, <a href="https://www.apartments.com.au/developers/salter-brothers">Salter Brothers</a>&nbsp;takes a different approach to larger residences, moving away from the constraints of a single level.

In Grand Residence 3.05, known as the Lustre, plays out across two levels, with a mezzanine configuration that is uncommon in apartment living.

Lustre is a four-bathroom residence where the layout creates a clear distinction between shared and private zones, with uninterrupted views toward the Dandenong Ranges extending the sense of openness from the main living areas.

Entry is to the primary living level, where the kitchen, dining, and living areas are arranged as one continuous space. Timber flooring runs throughout, with a fireplace set within the living zone. Full-height glazing brings in natural light, supported by double glazing that improves thermal performance.

[smartcode_project:default project_id=342 project_image_fid=357506]

The kitchen is configured as both a working and social space. A large island bench provides seating, while a walk-in pantry extends storage beyond typical apartment expectations.

Gaggenau appliances, including a 900mm gas cooktop and 600mm oven, are integrated into a layout that connects directly to the adjacent dining and living areas, and outward to the terrace. This balcony includes a built-in BBQ, reinforcing the apartment’s capacity to accommodate larger gatherings without compromising internal space.

A dedicated laundry room, powder room, and a wine cellar area sit discreetly off the main living zone, ensuring that functional requirements are resolved without encroaching on primary living areas. The master suite is also located on this level, designed as a retreat with a walk-through wardrobe and an ensuite that includes double vanities, a bath, and a dedicated dressing table.

[smartcode_project:default project_id=342 project_image_fid=357508]

The mezzanine level introduces a second layer of living, rather than simply additional bedrooms. Two large bedrooms with built-in robes are positioned alongside a central bathroom, while a secondary lounge and study area create a self-contained zone suited to children, guests, or extended family. A large storage room further supports long-term usability, addressing a common shortfall in apartment design.

This separation of levels is central to how the residence functions day-to-day. It allows the lower level to operate as the primary entertaining and living space, while the upper level provides privacy and flexibility. The result is closer in feel to a townhouse or standalone home, but with the benefits of apartment living, security, and low maintenance.

[smartcode_project:default project_id=342 project_image_fid=364553]

Candela is close to 80 per cent complete, with Ironside delivering construction ahead of its expected October 2026 completion. The development comprises 58 residences, with a strong owner-occupier profile and a mix of one to four-bedroom apartments and loft-style townhouses.

Candela has exclusive access to private amenities, including a residential lounge and rooftop terrace. A charming café and a lifestyle wellness centre are located on the ground level, designed to foster community connection and extend the living experience beyond individual apartments without competing with the scale of homes like Lustre.

Candela, positioned in the heart of Ivanhoe Village, reinforces the practicality of the address. With a Walk Score of 90, residents are within immediate reach of cafés, retail, parklands, and Ivanhoe Station, while also benefiting from proximity to established schools and healthcare services.

[smartcode_project_cta:default project_id=342]

Inside Lustre: Grand Residence 3.05 at Candela Ivanhoe

<a href="https://www.apartments.com.au/developers/milieu-property">Milieu</a>’s <a href="https://www.apartments.com.au/new-apartments/elsternwick-gardens-by-milieu-8-gordon-street-elsternwick-vic-3185">Elsternwick Gardens</a> is being shaped around a simple but increasingly rare premise in apartment development: that the built environment should actively support residents’ wellbeing.&nbsp;

Located on the former ABC Studios site on Gordon Street in Melbourne’s south-east, the new neighbourhood sits on an expansive 11,740 sqm site neighbouring the heritage-listed Rippon Lea Estate, whose gardens date back more than 140 years.

Rather than positioning wellness as an add-on amenity, the development integrates it into the physical planning of the site. Architecture by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> is arranged across six low-rise buildings set within extensive landscaping designed by <a href="https://www.apartments.com.au/landscape-architect/oculus">OCULUS</a>, with more than 40 per cent of the land dedicated to gardens and green space. Walking trails, pocket gardens, and mature trees are threaded between buildings, creating a network of green corridors that encourage residents to move through the precinct on foot and spend more time outdoors.

[smartcode_project:default project_id=136535 project_image_fid=288420]

Milieu has intentionally framed these gardens as an extension of the neighbouring Rippon Lea Estate. More than 16,000 new plants will be introduced across the site, with species carefully selected to protect and complement the area’s ecological significance. The approach focuses on strengthening existing environmental conditions while establishing new habitats that support native wildlife, reinforcing the role of the landscape as both an active ecosystem and a defining element of daily life.

A private resident gate will provide direct access to the historic grounds during opening hours, allowing residents to move seamlessly between the development’s landscaped gardens and the estate’s expansive lawns, lakes, and mature trees. The project’s gardens will also be maintained by the same gardeners responsible for Rippon Lea, reinforcing the visual and ecological continuity between the two landscapes.

Complementing the landscape is a dedicated wellness hub designed to support everyday health and recovery. Residents will have access to a gym alongside yoga and Pilates studios, while mineral pools and infrared saunas provide spaces for relaxation and restorative wellbeing. Shared lounges, workshop spaces, and pet care facilities expand the concept of wellness beyond fitness, creating opportunities for social connection and community interaction within the precinct.

Environmental performance is another key component of the project’s wellbeing focus. Elsternwick Gardens will be entirely fossil-fuel-free, with homes designed to operate on renewable electricity rather than gas. Passive design strategies, including cross-flow ventilation, high-performance insulation, and thermally broken double glazing, are intended to maintain comfortable indoor temperatures while reducing energy demand. Solar photovoltaic systems will power common building services, while rainwater harvesting will help irrigate the extensive landscaping across the site.

[smartcode_project:default project_id=136535 project_image_fid=361030]

Milieu Founder and Managing Director Michael McCormack says the scale and setting of the project allowed the team to take a different approach to urban apartment living.

“This site represents a once-in-a-lifetime opportunity to build something truly special,” McCormack says.

“Through that process, we arrived at a design that centres on a fully realised natural landscape – a series of private, interconnected gardens that encircle the homes and extend seamlessly from Rippon Lea Estate.”

Elsternwick Gardens will comprise three residential offerings, Gordon Place, Ripponlea Terrace, and The Garden Pavilion, each designed for owner-occupiers and shaped around high-quality interior design by Woods Bagot, K.P.D.O., and Flack Studio. The first stage, Gordon Place, includes one-, two-, and three-bedroom apartments designed with a strong focus on indoor-outdoor living and sustainability.

[smartcode_project:default project_id=136535 project_image_fid=288412]

Milieu recently appointed <a href="https://www.apartments.com.au/builders/brady-constructions">Brady Constructions</a> to deliver the project, marking a key milestone for the development. The appointment follows the demolition of the former studio buildings on the Gordon Street site, with construction progressing toward the delivery of the nature-led community.

Situated between the established villages of Elsternwick and Ripponlea, the development balances its garden setting with strong urban connectivity. Residents will be within walking distance of cafés, restaurants, and local retail, while nearby train and tram connections provide quick access to Melbourne’s CBD and the beaches of Elwood and St Kilda.

With construction underway and the first residents expected to move in by early 2027, Elsternwick Gardens represents a growing shift in apartment development toward environments that prioritise wellbeing as much as density or location. By placing landscape, sustainability, and shared spaces at the centre of the design, Milieu is positioning the project as a residential neighbourhood where wellness is not just promoted, but built into the structure of everyday life.

[smartcode_project_cta:default project_id=136535]

Elsternwick Gardens' wellness-first design strategy

Brisbane-based developer <a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a> has made a striking debut on the Gold Coast, officially unveiling its $250 million COMO development in Varsity Lakes, a lifestyle-driven residential project anchored by an extensive rooftop wellness and activity precinct.

Having recently launched to market, construction has already been fast-tracked by <a href="https://www.apartments.com.au/builders/5point-projects">5Point Projects</a>, ensuring momentum continues on what is set to become a landmark residential address for the growing Varsity Lakes community.

Located at 22 Lake Street, Varsity Lakes, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO</a> will comprise 156 apartments across 16 levels, comprising one-, two- and three-bedroom residences designed for modern living. However, it is the project’s rooftop amenity offering that sets COMO apart.

[smartcode_project:default project_id=135546 project_image_fid=363510]

Designed as a dedicated wellness and recreation hub, the rooftop will feature a 25-metre lap pool, fully equipped gymnasium, and multiple pickleball and paddleball courts - amenities rarely seen in boutique apartment projects.

Residents will also have access to a sauna and plunge baths, while landscaped gardens and relaxation zones will provide tranquil spaces overlooking sweeping panoramic views across the Gold Coast skyline.

The rooftop precinct has been designed to function as the social and wellness heart of the development, encouraging residents to embrace an active, balanced lifestyle within their own building.

&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363512]

Red &amp; Co director David Laverty said the amenity offering was central to the project’s design from the outset.

“Amenities were at the forefront of our decisions,” Laverty said.

“Buyers today are looking for more than just an apartment - they want a lifestyle that promotes health, connection and balance.

“The rooftop at COMO has been designed to be the epicentre of that lifestyle, with a suite of wellness and recreation facilities that are quite unique for a boutique development of this scale.”

&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363514]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, the residences prioritise liveability, featuring spacious layouts, 2.7-metre ceilings and high-quality finishes throughout.

The development sits beside Bond University, placing residents within walking distance of education, retail and dining options within the vibrant Varsity Lakes precinct, including Robina Town Centre, Varsity Lakes Train Station and a range of leading schools.

[smartcode_project:default project_id=135546 project_image_fid=363511]

Laverty said the location was a key driver behind Red &amp; Co’s decision to bring the project to the Gold Coast.

“<a href="https://www.apartments.com.au/developments/varsity-lakes-qld-4227">Varsity Lakes</a> was a clear choice for us to invest in as it’s a lifestyle hub that seamlessly blends lakeside living with urbanity,” he said.&nbsp;

“Como will capitalize on this great location, delivering a project that not only creates premium homes, but a lifestyle defined by community, wellbeing, and connectivity.”

Red &amp; Co has delivered more than 500 apartments and townhouses across 26 projects in Brisbane in recent years, with COMO marking the company’s first major Gold Coast development.

[smartcode_project_cta:default project_id=135546]

Red & Co unveils amenity-rich Como development in Varsity Lakes

<html><body>
EXPERT OBSERVER
<div id="post-body-8300417078442297736" class="post-body entry-content">
<div>One of the most important releases of the global calendar, the US nonfarm payrolls, confirmed things are turning back down in the face of slower growth and trade war concerns. </div>
<div> </div>
<div>Earlier in the week there had been a similarly weak indicator from a private payrolls report.</div>
<div> </div>
<div>Nonfarm payroll employment increased by just +75,000 in May 2019 according to the Bureau of Labor Statistics, and critically there were also substantial downwards revisions to March (-36,000) and April (-39,000). </div>
<div> </div>
<div>Combine a weak monthly gain of +75,000 with a combined revision of -75,000 and you get...not very much, although at least this did mark a record 104 consecutive months of gains. </div>
<div> </div>
<div>The 3-month average gain is now just above +150,000, having been above +200,000 for much of 2018 and 2019. </div>
<div> </div>
<div class="separator"><img src="https://1.bp.blogspot.com/-oCxVjG5jgE4/XPrPZcmCKyI/AAAAAAAAwZo/XIaPMHwveNQBQXCQcFF_y92gxVmx3g-7QCLcBGAs/s640/NFP1.jpg" width="640" height="368" data-original-height="800" data-original-width="1389"></div>
 The unemployment rate held steady at 3.6 per cent. <div class="separator"><img src="https://1.bp.blogspot.com/-VV6mk5t6S2Q/XPrPZQdLQBI/AAAAAAAAwZs/3T9WL5W_p5MDtBBnLiuydEN132e6RBW4QCLcBGAs/s640/NFP2.jpg" width="640" height="382" data-original-height="833" data-original-width="1390"></div>
 But annual average hourly earnings growth slowed to +3.1 per cent. <div class="separator"><img src="https://1.bp.blogspot.com/-6K-7SN1xz_A/XPrPZfVYmjI/AAAAAAAAwZw/6CDgCikRDroi5irW2jUAMrfmfWIjNo5_ACLcBGAs/s640/NFP3.jpg" width="640" height="364" data-original-height="790" data-original-width="1385"></div>
<div> </div>
<div> </div>
<div>A couple of Antipodean observations.</div>
<div>
 Firstly, hard though it is to imagine, markets are pricing a 4 in 5 chance of the Fed cutting interest rates as soon as July(!). </div>
<div> </div>
<div>And secondly, looking at unemployment rates from Japan to Germany, Netherlands, the US, UK, Taiwan, and South Korea - all 4 per cent or considerably lower in many cases - it's not hard to imagine that Australia's NAIRU could be much lower than previously assumed. </div>
<div> </div>
<div>For that reason and others, markets are now pricing in two further rate cuts in Australia over the next 12 months.</div>
<div> </div>
<div>I was travelling yesterday and didn't get around to posting the pre-election housing finance figures, which showed a small uptick for homebuyers and a decline for investors.</div>
<div> </div>
<div>Speaking with a few mortgage brokers yesterday, there has been a surge of enquiries since the election, and especially now interest rate cuts are being passed on.</div>
<div> </div>
<div>Importantly, while banks were previously taking up to a couple of months to return documentation, not the figure is back down to about a week, so things are 'back to normal' in that regard. </div>
<div> </div>
<div>PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>. </div>
</div>
</body></html>

pwargent-M4siyDbqQY

Rate hiking cycle crashes and burns: Pete Wargent

<html><body>
Lendlease, with backing from Aware Super, has plans for a $1 billion build-to-rent project in New York's Brooklyn.
Lendlease paid $US100 million ($138 million) for its 90 per cent stake in the development project.
It will be about 800 apartments, some 30 percent earmarked for affordable housing under a New York City program.
The property, 1 Java Street, spans a full city block on the Greenpoint waterfront along the East River.
Sold by David Zalaznick’s JZ Capital Partners, it ranks as one of the biggest land purchases in New York City during the pandemic.
The ASX listed global player had signalled it would significantly ramp up its real estate development activities around the world.
It already has major urbanisation projects across the US, including a build-to-rent development also backed by Aware Super in Chicago.
There is also a plan for housing development on Google-held land in Silicon Valley.
It takes its US development pipeline to over $30 billion of current and future projects, Denis Hickey, chief executive for Lendlease’s Americas business advised.
<div class="in-content-ad">
Aware is the rebadged Australian super fund, First State Super.
Lendlease takes control of the Java Street site from London-listed investment house JZ Capital Partners and development vehicle RedSky, which will retain 10 per cent.
 
</div>
</body></html>

j.ballantyne1990-6AQqhLzZaK

Lendlease plans $1 billion Brooklyn, New York build-to-rent project

<html><body>
Greg The Shark Norman is again trying to sell his US ranch retreat, and he's shaved US$15 million ($AUD23 million) off its last price tag.
The Seven Lakes Ranch in Colarado's White River Valley on the Flat Tops Mountains has been a retreat for the Norman's for over two decades, transforming it from a corporate retreat to a family getaway.
Norman visited the area for a client who wanted to build a golf course on his property nearby.
He fell in love with the area and bought Dry Creek, before extending the holding over the years by adding neighbouring properties which included Seven Lakes Lodge, bought from billionaire businessman Henry Kravis.
The grand ranch home, built by logs trucked in from Montana, spans 1,300 sqm and has nine bedrooms and an authentic saloon. 
Norman said he had loved taking in the tranquillity and peace of the Colorado Rockies.
His favourite room inside the ranch is the bar.
Norman has welcomed the late George H.W. Bush stay in their executive cabin, one of seven guest cabins on the 4815 hectare property. 
The listing agents Hall and Hall call the property a true sporting paradise, regarded as one of the finest trophy big game hunting and fishing ranches in Colorado.
The Sharks base is some 2,900 kilometres away in Florida's Jupiter Island, roughly the same distance from Sydney to Cairns.
He's now seeking US$40 million (AUD$62 million), down from the US$55 million (AUD$85 million) he asked in 2017.
2017 was also the year Norman hinted at a potential return to Australia.
When speaking to News Corp he said he would love to live on a vineyard.
"I would love to go back and have a place there," Norman said.
"I would love to have a vineyard.
"I don't know where; I love Margaret River, I lose the Barossa Valley, the Yarra Valley, the Hunter Valley."
His wife however, Sydney interior designer Kirsten Kutner, is a self-declared beach girl.
</body></html>

firstname1-iYD4UYzvBa

Greg The Shark Norman again lists US ranch retreat slashing price tag

<html><body>
Australian residential developer Crown Group has taken the next steps in its first move into the US market, where it plans to develop a US$500 million mixed-use high-rise condominium and hotel tower. 
Crown Group is progressing entitlements with Los Angeles City Hall for the proposed tower, which is earmarked for the southeast corner of South Hill and 11th streets at the convergence of Downtown’s financial, fashion and South Park districts.
Crown Group has formed a joint venture with a Singapore based company called Magnus Property Pte Ltd and one of Indonesia’s biggest property developers, ASRI.
The joint venture group settled on the Downtown site in November 2019.
The 43-storey tower has been designed by renowned Koichi Takada Architects and the project at 1111 Hill Street is expected to be completed in 2024.
The high-rise sections of the building will comprise 319 condominiums with an exclusive residents’ retreat over the top two floors and a façade design that references California’s gigantic ancient redwood trees.
Crown Group’s LA office is also in discussions to perhaps incorporate a 160-key hotel in the low rise of the building.
Crown Group CEO Iwan Sunito said the flourishing Downtown district of LA had experienced a significant transformation over the past decade. This is evidenced by LA Live’s expansion, Warner Music and Spotify establishing offices, headline retailers such as Apple, Vans and Paul Smith launching flagship stores, a bevy of iconic restaurants opening venues and numerous residential, hotel and commercial developments underway.
Crown Group Head of US Development Patrick Caruso said the development would offer an appealing point of difference for buyers in Downtown LA and bring a new version of condominium living to the district.
</body></html>

Crown Group secures land for its first USA project

soliver-smf6LQXgW9

US Federal Reserve's continued rate hikes, what does that mean for Australia? Shane Oliver

<html><body>
EXPERT OBSERVER
Since Donald Trump was elected President back on November 8, 2016 we have focused on whether we will see Trump the rabble-rousing populist or Trump the business-friendly pragmatist.
Despite lots of noise – particularly via Trump’s frequent tweets – for the most part Trump the pragmatist has dominated so far.
But we have clearly seen a swing to Trump the populist this year – raising risks for investors.
So far Trump has been good for markets In the period since his election US shares are up 34%, global shares are up 28% and Australian shares are up 21%.
While the strength in share markets would have occurred anyway given stronger global growth, US tax reform, fiscal stimulus and deregulation have clearly helped and contributed to the US share market’s outperformance.
While US tax reform and tax cuts have received much focus, the Trump administration’s focus on deregulation is equally as significant with the US under Trump seeing the least amount of new economically significant regulation since the Reagan Administration in the early 1980s. 
In terms of tax reform and deregulation the Trump Administration has much in common with Reaganomics.
Populism starting to dominate pragmatism
This year though the balance has shifted towards a greater emphasis on populist policies – notably protectionism and criticism of China, the return to sanctions on Iran and arguably recent criticism of the Fed for raising interest rates and pushing up the US dollar.
There are several reasons for this shift in emphasis: the pro-business element of Trump’s policies were mainly completed last year; it’s a mid-term election year so Trump is back in campaign mode; Trump’s approval rating has improved despite this year’s controversial policies suggesting firm support for them from his Republican party base; and the strength of the US economy has also emboldened him.
In fact, it could be argued that last year was all about bolstering the US economy ahead of this year’s more controversial policies.
The main risks around President Trump centre around five key issues: the rising risk of a full-blown trade war; the expanding budget deficit; the risk of interference in the Fed; the return of sanctions on Iranian oil exports threatening wider Middle East conflict; and the risk Trump ultimately comes into trouble with the Mueller inquiry.
We will now look at each of these in turn.
Rising trade war risks
This issue has been done to death but won’t go away.
So far the tariff increases actually implemented amount to just 3% of total US imports.
While this has been met with proportional retaliation by other countries it’s a long way from a full-blown global trade war.
However, the issue is what happens next.
Another $US16bn of Chinese imports will likely be hit with a 25% tariff soon and the US is readying a 10% tariff on another $US200bn.
Trump is also threatening to raise tariffs on all $US550bn of Chinese imports.
China is threatening to retaliate proportionally although it will have to be with other means as it only imports $US130bn from the US.
Trump is also threatening to put tariffs on auto imports and looking at Uranium.
News of a deal between the US and the EU to work towards zero tariffs on industrial goods is good news in terms of heading of a full-blown trade war between the two, but negotiations have a long way to go.
There was hope of a deal with China in May – with Trump initially crowing about a May 20 trade deal, but since then both China and the US have dug in with Trump tapping popular support for protectionism and anti-Chinese sentiment.
So, the trade threat could get still worse before it gets better which means it risks taking the edge off economic growth.
Modelling by Citigroup of a 10% tariff hike by the US, China and Europe showed a 2% hit to global GDP after a year.
Of course, we are not seeing a tariff hike on all goods but the impact could still be significant if negotiations with the EU and China fail and all the tariffs being talked about are implemented.
There are a few offsetting factors.
First, China is moving to provide stimulus to support growth.
Second, much of Trump’s approach still looks designed to apply “maximum pressure” to reach a negotiated outcome – and so far so good in relation to Europe.
And Trump knows that the costs to US workers (from soybean farmers to Harley Davidson workers) and consumers will escalate as more tariffs are imposed.
So, our base case remains that some form of negotiated solution will be reached, but in relation to China this may not occur until next year.
Interference in the Fed and US dollar Trump’s recent comments criticising Europe, China and others for helping drive the US dollar up and the Fed for raising interest rates naturally raises concerns that he will intervene in foreign exchange markets and interfere with the Fed.
The comments lack economic logic – if “making America great again” means stronger US economic growth then it also means higher US interest rates and a higher US dollar – and maybe the Fed came in for a serve after Fed Chair Powell observed that “countries that have gone in a more protectionist direction have done worse”!
Trump’s annoyance may have been triggered by the slide in the value of the Chinese Renminbi.
While this looks to be mainly a strong $US story (as the $US is up around 7% against its low earlier this year against a range of currencies compared to an 8% gain against the Renminbi) the Chinese authorities seem quite content to let it fall for now and this will obviously offset Trump’s tariffs on Chinese goods.
Despite all this it’s unlikely in the short term that Trump will act on his opinions on rates and the $US.
US Treasury Secretary Mnuchin said the administration would “not interfere with the decisions of the Fed or move to manipulate the value of the dollar.” Trump is well known to be a high debt/low interest rate guy so it’s no surprise he is not happy with rising rates.
But the Fed answers to Congress, has a mandate to keep inflation down and will do what it sees best – which with strong growth and at target inflation means returning interest rates to more normal levels.
However, longer term there is a risk that Trump will weaken the institution of an independent central bank targeting low inflation and may also seek to return to a more interventionist approach regarding the US dollar, particularly if America’s trade deficit refuses to fall.
Based on past experience such political intervention would risk much higher inflation which would be a big negative for investment assets as the revaluation that occurred as we moved from high inflation to low inflation would reverse.
Fortunately, we are not there yet.
 The expanding US budget deficit
It’s been the norm for the US budget deficit to blow out when unemployment rises (as tax revenue falls and jobless claims go up) and decline when unemployment falls.
Thanks to Trump’s fiscal stimulus it’s now blowing out when unemployment is collapsing and looks to be on its way to 5% of GDP.
This raises three risks. First, it may mean higher than otherwise interest rates and bond yields as the Fed may have to raise rates more than would otherwise be the case to stop the economy overheating and the Government’s competition for funds results in higher bond yields. 
So far there is not a lot of evidence of this with US bond yields remaining relatively low – presumably held down by low global bond yields and trade war fears – but its still a risk as US inflationary pressures rise.
Second and more fundamentally it begs the question of debt sustainability when the next recession arrives given US public debt is already around 100% of US GDP.
Finally, US fiscal stimulus by adding to the US savings-investment imbalance is adding to the US trade deficit and so is completely inconsistent with his trade policies.
Even if there was a completely level playing field on world trade America will still have a trade deficit!
The return to sanctions on, and tensions with, Iran Perhaps a big surprise this year for some has been that President Trump looks to have swapped a half decent deal with Iran for a dodgy one with North Korea.
While the latter holds out the hope of (maybe) reducing the threat of a nuclear attack on the US, the return to sanctions and tensions with Iran risks higher oil prices. S
ince the lows of 2015 oil prices have increased by 70% reflecting increased demand and OPEC’s 2016 cutback.
Global stockpiles and spare capacity have been rundown and supply from Libya and Venezuela is uncertain.
Our base case is that demand growth will be more constrained from here and that a ramp up in US shale oil production will help contain oil prices around $US70-75 a barrel.
The risk though is that the loss of around 800,000 barrels a day of Iranian oil exports and the renewed risk of wider conflict in the Middle East associated with Iran (eg, if Iran closes the Strait of Hormuz through which 20% of global oil supply moves in retaliation against US sanctions) results in higher prices.
The Mueller inquiry into Russian links
Our view in relation to the Mueller inquiry remains that unless Trump has done something very wrong the Republican controlled House will not move to impeach him and even if a Democrat controlled House post the mid-terms did, the Senate will not have the necessary two thirds of votes to remove him from office.
However, his sensitivity over the issue, along with his comments seemingly favouring Russian President Putin’s word over US security agencies does remind a bit of Nixon in relation to Watergate.
So his removal cannot be ruled out.
But this would just mean VP Mike Pence would take over with basically the same economic policies (but with less tweet noise) and economic conditions are stronger than in 1974.
Trump tweet noise
The risks around Trump are real and need to be watched carefully.
But Trump generates a lot of noise and much of it is contradictory and confusing – in the last week Trump tweeted “Tariffs are the greatest” only to tweet 12 hours later that “I have an idea for them. Both the US and EU drop all tariffs” – and often reflects bluster ahead of negotiations – recall his “fire, fury and frankly power” threat to North Korea.
So the best approach for investors in relation to Trump is to turn down the noise.
Dr Shane Oliver is the Head of Investment Strategy and Chief Economist for AMP Capital
</body></html>

Trumponomics: Shane Oliver

<html><body>
Actor George Lazneby, Australia's very own James Bond, is selling his US mountaintop estate in California.
He's asking for $3.49 million for the <a href="https://www.coldwellbankerhomes.com/ca/pearblossom/30066-longview-rd/pid_24598109/" target="_blank">1950s ranch homestead on 200 hectare at Pearlblossom</a>, which is in the Antelope Valley of the Mojave Desert, in northern Los Angeles County.
The property is split up in to 12 parcels. Lazenby started collecting the adjoining parcels four decades ago after neighbours complained about his motorcycle riding. 
<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/2018/5/28/lazenby2.jpg" alt="">
Lazenby was famous for following in Sean Connery's footsteps as 007 when he played the English spy in the 1969 film On Her Majesty's Secret Service.
The Queanbeyan-born actor had already stepped aside from the role before the premiere.
It's been four years since Lazenby had Sydney property, selling a Mosman house for $2.9 million.
It was co-owned with his now former wife, US tennis star Pam Shriver.
With family on the north shore, for many years he owned a Cammeray waterfront home which sold for $2,253,281 in the late 1980s.
<div class="card collection-item" data-type="text">
<div class=" card-content ">
Lazenby has credits that include Universal Soldier (1972), The Dragon Flies (1975) and Gettysburg (1993)and last year he appeared in the direct-to-video thriller Death Game.
This article first appeared in the Sunday Telegraph.
 
<div class="card collection-item" data-type="text">
<div class=" card-content ">
 
</div>
</div>
<div class="card collection-item" data-type="text"> </div>
 
 
 
 
</div>
</div>
</body></html>

Australia's own James Bond lists California mountaintop estate

<html><body>
<div class="x_WordSection1">
As widely expected, the Fed increased the target range for the federal funds rate by 0.25 per cent to 1.50-1.75 per cent. This was the sixth increase in interest rates of the current monetary policy tightening cycle.  The decision by the Fed voters was a unanimous 8-0.
US interest rates higher than the Aussie cash rate: The federal funds target rate is higher than the Reserve Bank’s official cash rate of 1.50 per cent for the first time in over 17 years. 
US interest rate outlook: The Fed is forecasting two further rate increases in 2018 and three further hikes in 2019. The 2020 projection is for two interest rate hikes. 
US economic outlook revised higher: Economic growth (GDP) forecasts were increased to 2.7 per cent in 2018, up from the previous forecast of 2.5 per cent. The 2019 forecast was moved higher to 2.4 per cent, up from 2.1 per cent previously. Growth is projected to decelerate to 2.0 per cent by 2020.
US at full employment: The unemployment rate is expected to fall to 3.8 per cent in 2018, down from 3.9 per cent in 2018. The unemployment rate is expected to fall further to 3.6 per cent in 2019-2020.
Inflation to reach target in 2019: Inflation is expected to remain below the Fed's 2 per cent target this year at 1.9 per cent. But the Fed expects the core Personal Consumption Expenditures (PCE) deflator (inflation) to increase to 2.1 per cent, above previous projections for 2.0 per cent in 2019 and 2020. 
Changes in US monetary policy settings can affect rates in Australia as well as the sharemarket and currency.
Click here <a href="https://www.propertyobserver.com.au/images/2018/3/22/RATES1.jpg" target="_blank">to enlarge.</a>
<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/2018/3/22/RATES1.jpg" alt="">
</div>
<div class="x_WordSection2">
<h1>What happened and what does it all mean?</h1>
The US central bank, the US Federal Reserve, increased the target range for the federal funds rate by 0.25 percentage points to 1.50-1.75 per cent, as expected. More interest rate increases are forecast due to the improving economic outlook. 
The US unemployment rate is at a 17-year low. Now US interest rates have increased above Aussie interest rates for the first time in over 17 years.
The last time the US federal funds target rate was above the Reserve Bank’s official cash rate was December 2000. US interest rates were higher than Aussie cash rates for the period July 1997 – December 2000. How the world has changed since then. 
Click here<a href="https://www.propertyobserver.com.au/images/2018/3/22/INFLATION2.jpg" target="_blank"> to enlarge.</a>
<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/2018/3/22/INFLATION2.jpg" alt="">
Back in those days the cash rate in both countries was well above 6 per cent and the Aussie dollar slumped to just US48 cents in early 2001.
Fast forward to 2018 and the Aussie economic expansion is now into a record 27th year, while the slow-but-steady increase in US output is into its ninth year. Should the US expand for another year, it will exceed the 10-year economic boom of the 1990s – the last time US interest rates were higher than their Aussie counterparts.
<h1>US Federal Reserve decision</h1>
Today’s decision by the US Federal Reserve was well telegraphed and uniformly expected by financial markets. The gradual tightening of monetary policy and removal of stimulus continues in the new Jerome Powell era. 
It was just three weeks ago that influential Federal Reserve Board Governor Lael Brainard spoke at Harvard University and opined: “Mounting tailwinds at a time of full employment and above-trend growth tip the balance of considerations. With greater confidence in achieving the inflation target, continued gradual increases in the federal funds rate are likely to be appropriate.” 
Since then the US labour market has continued to strengthen. Consumer sentiment has hit new post-Global Financial Crisis highs and core inflation, while still below the Fed’s 2 per cent target, has lifted sequentially. The Fed’s preferred measure – core PCE inflation – is now a quarter percentage point higher in annualised terms than its low in mid-2017.
Retail sales and housing data has been weak at the beginning of 2018, but the US Federal Reserve has decided to look through this data and potentially a weaker March quarter economic growth print.
Click here <a href="https://www.propertyobserver.com.au/images/2018/3/22/EMPLOYMENT3.jpg" target="_blank">to enlarge.</a>
<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/2018/3/22/EMPLOYMENT3.jpg" alt="">
In terms of the Federal Open Market Committee’s (FOMC) press release, the FOMC reiterated that future interest rate adjustments will be data dependent and that “economic conditions will evolve in a manner that will warrant gradual increases in the federal fund rate”. The FOMC acknowledged that the “economic outlook has strengthened in recent months.” Inflation is expected“to move up in the coming months”. And “job gains have been strong in recent months, and the unemployment rate has stayed low”. Though household spending and business investment “have moderated” from late last year.  
The median path for the fed funds rate was changed in 2019-2020. The FOMC’s Summary of Economic Projections shows the median interest rate projections (the “dot plot”) still implies two further 0.25 per cent interest rate increases in 2018 (to 2.125 per cent); three 0.25 per cent interest rate increases in 2019 (to 2.875 per cent); and two 0.25 per cent interest rate increases in 2020 (to 3.375 per cent).
The policy-relevant core PCE deflator inflation projection were little changed. Core PCE inflation is still expected to run at 1.9 per cent in 2018. The FOMC lifted its core PCE forecast by 0.1 per cent to 2.1 per cent in 2019 and 2020.
The FOMC upgraded its GDP forecasts and lowered its unemployment rate projections. The FOMC projects GDP growth of 2.7 per cent in 2018 (previously 2.5 per cent) and 2.4 per cent in 2019 (previously 2.1 per cent). Meanwhile, the FOMC expects the unemployment rate to be 3.8 per cent in 2018 (previously 3.9 per cent) and 3.6 per cent in both 2019 (previously 3.9 per cent) and 2020 (previously 4.0 per cent).
The Fed continues to unwind its huge balance sheet. Holdings have declined to around US$4.4 trillion, the lowest since September 2014. The Fed plans to shrink the balance sheet by US$10 billion per month then accelerate the pace of reduction every three months. Eventually, holdings will be reduced by around US$50 billion per month until a “new normal” balance sheet holding is achieved. Fed Chair Jerome Powell has estimated that the balance sheet could drop to US$2.4-US$2.9 trillion after several years of cuts. 
US sharemarkets reacted positively initially to the well telegraphed outcome - especially given a fourth rate hike was not added in 2018 - with the Dow Jones Industrial Index briefly trading higher 250 points. However, shares declined into the US market close on weaker sentiment. Investors would be comforted that the FOMC largely left its interest rate outlook unchanged and US economic projections are stronger. US 10-year Treasury yields rose to 2.91 per cent before rallying back to 2.88 per cent. The US dollar fell and the Aussie dollar rallied from overnight lows near US76.70 cents and was near US77.66 cents in late US trade.
<h1>What are the implications for interest rates and investors?</h1>
The US economy is in rude health. We expect growth to remain above potential at around 2.8 per cent this year – the fastest pace of growth following the Global Financial Crisis.
Despite recent sharemarket volatility, financial conditions are still very accommodative and supportive for growth. The University of Michigan current economic conditions index for March was at record high (since 1978).
The Trump Administration’s fiscal expansion will likely lend support to late cycle US economic growth. The ‘leg-up’ from US$1.5 trillion worth of corporate tax cuts and additional government spending of around US$10 billion per year on infrastructure is expected to add around 0.5 percentage points to growth in 2018. Robust business investment and consumer spending, and a soft US dollar are additional growth sources. 
One of the challenges for Fed policy makers this year is to determine the full impact of the Trump tax-cut plans. The recent fiscal stimulus has probably not been fully baked into economic forecasts. And with US output and the labour market at near full capacity, concerns are building about an overheating economy.  
Click here<a href="https://www.propertyobserver.com.au/images/2018/3/22/BEST4.jpg" target="_blank"> to enlarge.</a>
<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/2018/3/22/BEST4.jpg" alt="">
The Fed will also be contending with a deteriorating US budget deficit and government debt situation. The US posted its largest budget deficit in six years in February at US$215 billion. And the deficit for the fiscal year that began in October 2017 widened to US$391 billion compared with a US$351 billion shortfall the same period a year earlier. The US gross government debt load has breached US$21 trillion or 106 per cent of GDP.
US President Trump’s tax policy is expected to reduce US federal revenue by more than US$1 trillion over the next decade, while a US$300 billion spending deal reached by the US Congress in February could push the deficit higher. So the corporate tax cuts will be funded by an increase in the US budget deficit, resulting in an increase in the issuance of US Treasury bonds. 
And the Fed’s interest rate hikes will likely expand the budget deficit even further by raising the Trump Administration’s cost of issuance, thereby further increasing the supply of US Treasuries. Rising supply, especially shorter dated bills, is already weighing on fixed income markets. And around US$425 billion of bonds will be maturing this year with the Fed only reinvesting US$195 billion of this amount. Who will pick up the shortfall?
If the Fed meets market pricing expectations for potential interest rate hikes, it will probably succeed in flattening the yield curve further – especially with the term premium curve flat already – then more likely we’ll see further episodic market volatility. 
With inflation running below 2 per cent, doubts over the Fed’s forward guidance will persist. However, base effects from wireless phone services’ price discounting, potential US dollar depreciation, tighter labour markets and a closing output gap should push annual inflation higher from mid-2018. 
Overall, we see the US economy growing above potential, supported by fiscal stimulus, still-low inflation and synchronised global growth. US President Trump’s policies, especially around trade, are the major ‘wildcards’. However, Fed Chair Jerome Powell said that US trade policy should not affect the economic outlook.    
CommSec expects two further US interest rate hikes in June and September this year.
Ryan Felsman is a senior economist at CommSec.
</div>
</body></html>

jrobinson-rf4aSBido9

US interest rates break 17-year drought: CommSec

<html><body>
A new report from US property giant Zillow reveals that Australia’s property obsession extends all the way to the USA.
Zillow calculates more than one million Australians are looking at American real estate on Zillow annually.
Beverly Hills (above) is among the most searched cities, with Los Angeles the most searched region.
Eight of the top 10 most popular U.S. cities for Australian home searches are in the state of California. 
<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/2018/1/25/zillow%201.jpg" alt="">
Zillow noted the United States has its own housing affordability challenges, but at a much low median home price of around A$265,696 ($203,400USD)
"Home prices are on the rise in almost every major metro area, and in many markets, buyers are facing stiff competition and bidding wars," the Zillow report advised.
California’s economy is about twice the size of Australia’s, so buying a home in a hot California market can come with a significant price tag.
The median price point for Australian home searches on Zillow is A$704,070 AUD ($539,000USD) with the chances of finding a home within that price range in desirable California cities ranked as slim, especially since, according to Zillow’s data, Australians are primarily interested in standalone U.S. homes.
Up-and-coming metros like Las Vegas, Seattle and Portland, Oregon are gaining attention from Australians. In the Las Vegas metro, the median home costs A$309,320 ($236,800 USD) and is expected to rise another 5.8 per cent in value over the next year.
The Los Angeles metro has a median home price of A$804,389 ($615,800 USD) and is expected to gain just 1.1 per cent in value next year.
 
<img src="https://www.urban.com.au/images/2018/1/25/zillow%202.png" alt="">
There are currently almost 100,000 Australians living the U.S., according to The U.S. Census Bureau. The 2016 Australian Census saw net overseas migration (NOM) departures reach 312,200 people from 31 December 2015 - 31 December 2016, an increase of 3.7 per cent year-on-year.
Launched in 2006 and headquartered in Seattle, Zillow is owned and operated by Zillow Group with shares trading on the NASDAQ.
Shares of Zillow Group are currently trading at around US$44. The market cap is US$5.47 billion.
Caledonia Investments, the Australian investment firm run by Will Vicars owns around 22% in US online real estate market leader. Will Vicars was instrumental in James Packer's original $300 million investment in the US stock in 2013, with the equity now held by his sister, Gretel Packer. 
 
 
</body></html>

Usa

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Usa