ANZ believes the Reserve Bank is in no rush to move again.

Following the release of the May Monetary Policy Board Minutes, ANZ has taken the view that the RBA is now firmly in a holding pattern, with the cumulative impact of previous rate hikes giving the Board scope to assess how the economy evolves from here.

That positioning, in ANZ’s view, makes a June rate hike unlikely.

The bank continues to expect the cash rate to remain unchanged at 4.35 per cent for an extended period, with the RBA adopting what is effectively a wait-and-see approach.

The Minutes point to a Board that sees financial conditions as already restrictive, but without a clear read on just how restrictive they are. That uncertainty has shifted the focus away from immediate policy action and toward monitoring both domestic conditions and global developments, particularly the conflict in the Middle East.

As ANZ interprets it, the Board is deliberately avoiding strong forward guidance.

Instead, it is allowing itself flexibility, acknowledging that monetary policy has limited ability to influence the near-term trajectory of inflation, while also recognising that economic growth is likely to remain below potential for some time.

Despite that pause in momentum, ANZ notes that the Board still carries a tightening bias.

The Minutes reveal that, in weighing up its decision, the Board seriously considered another 25 basis point increase. The key debate centred on the trade-off between inflation and activity, particularly in the context of global uncertainty.

Ultimately, most members leaned toward the inflation side of that equation.

Underlying inflation is still expected to remain above target for an extended period, regardless of how external risks evolve. That has led to a view within the Board that the risks to its inflation objective have increased, and that the current cash rate may not be sufficiently restrictive to fully contain those pressures.

That’s important.

While the decision, for now, is to hold, the underlying tone of the Minutes suggests the door to further tightening has not been closed.

ANZ also points to commentary from Assistant Governor (Economic) Sarah Hunter, who highlighted the risk that inflation could pass through the economy more quickly and broadly than in previous cycles. Both Hunter and a majority of the Board expressed concern that inflation expectations could become less anchored after such a prolonged period above target.

That combination, persistent inflation and the risk of expectations shifting, is what continues to underpin the RBA’s cautious stance.

However, where ANZ diverges from the RBA is on the outlook for activity.

The Board appears relatively comfortable with current spending patterns, effectively downplaying recent declines in business and consumer sentiment. It notes that sentiment has historically been only weakly correlated with actual spending, and that feedback from its liaison program has not yet pointed to a meaningful slowdown in consumption.

ANZ is less convinced.

The bank believes the link between household disposable income, sentiment and spending is more direct than the RBA is currently acknowledging. With inflation continuing to erode real incomes, ANZ expects household spending to soften more materially than the central bank is forecasting.

That divergence matters because it shifts the balance of risk.

If activity weakens more than expected, the trade-off between inflation and growth changes. In ANZ’s view, that would reduce the need for further tightening and reinforce the case for the RBA to remain on hold.

It also suggests that the current policy setting may already be doing more work than the Board fully appreciates.

The broader takeaway from ANZ’s interpretation is that the RBA is walking a narrow path.

On one side sits the risk of inflation remaining elevated for longer than expected. On the other is the growing pressure on households and the potential for a sharper slowdown in activity.

For now, the Board is choosing to wait.

But it is a pause that still carries an underlying tightening bias, rather than a clear pivot toward easing.

In practical terms, that leaves the cash rate anchored at 4.35 per cent for the foreseeable future, with the next move still uncertain.

For borrowers, it reinforces the reality that relief is not imminent.

And for the broader economy, it highlights the delicate balance the RBA is trying to strike, between bringing inflation back to target and avoiding an unnecessarily sharp slowdown in growth.

According to ANZ, it is a balance that is becoming increasingly difficult to maintain.

Joel Robinson

RBA to hold rates for "prolonged period" rather than hikes: ANZ

<a href="https://www.apartments.com.au/developers/venturecrowd-property-projects">VentureCrowd</a> is down to the final Canopy Villa release at Cumulus Grand Villas in Carrara, as construction continues on the 59-residence gated community positioned above 100 hectares of natural savanna on the Gold Coast.

The remaining Canopy Villa forms part of one of four collections within the <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>-designed community and has attracted interest from buyers seeking larger-format homes that combine privacy, security and low-maintenance living. Positioned within a private cul-de-sac and facing a protected black she oak forest, the four-bedroom villa includes a large private outdoor area suited to pet owners and families wanting more flexible space.

<a href="https://www.apartments.com.au/new-townhouses/cumulus-grand-villas-carrara-17-baltimore-court-carrara-qld-4211">Cumulus Grand Villas</a>, located at 17 Baltimore Court, comprises a mix of three and four-bedroom villas across the Skyline, Canopy, Savanna and Broadview collections. Prices currently range from $1.455 million to $1.895 million, with the final Canopy Villa priced from $1.825 million.

[smartcode_project:default project_id=135663 project_image_fid=360477]

The Canopy Collection villas offer four bedrooms, 2.5 bathrooms and approximately 245 sqm of internal space, alongside double garages and landscaped private areas. Expansive glazing, open-plan living spaces and private balconies have been designed to maximise natural light and outlooks toward the surrounding savanna landscape.

Construction is now underway across the fully funded development, which VentureCrowd says has become an increasingly important consideration for buyers assessing off-the-plan opportunities on the Gold Coast. The project is being delivered by <a href="https://www.apartments.com.au/builders/devcon">Devcon Property Group</a>, which has operated in South East Queensland since 1993 and delivered more than 1,000 homes across the region.

VentureCrowd Director of Property David Whitting previously said the project responds to changing buyer priorities in the prestige Gold Coast market.

“Flexible floorplans have proven particularly relevant for purchasers aged between 40 and 65, including next home buyers, downsizers and investors,” Whitting said.

[smartcode_project:default project_id=135663 project_image_fid=360505]

The buyer profile at Cumulus has reflected that shift toward owner-occupier-driven demand. Stuart Towns and Tracey Loynes recently purchased a Canopy Villa, drawn to both the lifestyle offering and the flexibility the home provided for their next stage of living together.

The couple, who met three years ago, sold their Robina home earlier this year after identifying what they saw as strong long-term investment potential at Cumulus while remaining within the same Gold Coast market. The villa’s private backyard was a major drawcard for their dog Luna, while proximity to golf courses including Emerald Lakes also aligned with their lifestyle interests.

Beyond the residences themselves, the community has been planned around shared lifestyle and recreation amenities. The Infinity Terrace will include a 20-metre heated pool, barbecue facilities, alfresco dining spaces and elevated retreat areas overlooking the surrounding landscape. Walking trails, a private nature reserve, orchard and herb garden are also integrated into the masterplan.

[smartcode_project:default project_id=135663 project_image_fid=360473]

BDA Architecture Director Darren Greenaway said the design approach was heavily influenced by the site’s outlook and secluded setting.

The practice sought to create what Greenaway described as a “little piece of paradise,” drawing inspiration from the elevated views, surrounding greenery and quiet location.

<a href="https://www.apartments.com.au/developments/carrara-qld-4211">Carrara</a> continues to attract buyers seeking larger homes within proximity to the coast but without direct beachfront pricing. Cumulus sits within easy reach of Broadbeach, Pacific Fair, Robina Town Centre and the M1, providing connections north to Brisbane and south toward the Gold Coast Airport and northern New South Wales.

The first stage of Cumulus Grand Villas is targeting completion in 2026.

[smartcode_project_cta:default project_id=135663]

VentureCrowd nears sell-out of Canopy Collection at Cumulus Grand Villas in Carrara

Waverley Council has made a call that many councils have been reluctant to make publicly. Growth is coming, regardless of who controls it.

The release of the Bondi Junction Vision and Master Plan is less about whether the Eastern Suburbs’ primary centre will change, and more about how that change is shaped, funded, and ultimately experienced on the ground. Waverley Council has released a 100-page plan which is effectively the first comprehensive blueprint for Bondi Junction in over two decades, and in doing so, signals a clear shift in how councils are positioning themselves in the current planning environment.

For the past 18 months, the conversation across New South Wales has been dominated by the State Government’s Low and Mid-Rise Housing reforms and the emergence of the Housing Delivery Authority pathway. Both have created faster, more centralised avenues for development approvals, particularly in well-located, infrastructure-rich areas like Bondi Junction.

Waverley Council’s response has been to move early, and decisively.

Rather than react to individual proposals as they come through the HDA or broader State-led reforms, Council has sought to establish a clear, place-based framework that sets the terms for how Bondi Junction evolves. The underlying position is relatively straightforward: if densification is inevitable, it should be tied to infrastructure, public domain improvements, and a cohesive vision for the centre, not delivered piecemeal through ad hoc applications.

<img alt="bondi junction" data-entity-type="file" data-entity-uuid="7f1f729c-ed99-4c6c-bf87-ffbce6991941" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-19%20at%209.58.16%E2%80%AFAM.png?VersionId=ULX4OlXKjeJ5BvNCNGL86evgXCjCfMih" />

At its core, the document is attempting to reposition Bondi Junction from what it largely functions as today, a transport interchange anchored by a major retail centre, into something far more layered. The ambition is to transform it into what the plan describes as the “civic and cultural heart of Sydney’s East,” a place that is active beyond commuting hours and capable of supporting a broader mix of uses, experiences and communities.

That repositioning is built around four key ambitions.

The first is to create a true destination. Bondi Junction already attracts significant foot traffic, with more than 86,000 daily transport users and millions of annual retail visits, but much of that activity is transient. People pass through, rather than stay.

The Master Plan seeks to change that dynamic. It leans heavily into the idea of an “18-hour economy,” extending activity well beyond traditional retail hours through dining, cultural programming, events, and a more active night-time offering. This is not just about adding more hospitality venues, but about fundamentally shifting how the centre operates, from a daytime shopping destination to a place that functions across the full span of the day and into the evening.

Oxford Street Mall sits at the centre of that shift.

Long seen as underperforming relative to its potential, the Mall is identified as one of the key catalyst projects in the plan. It is to be reimagined as a day-to-night spine, combining retail, dining, wellness and cultural uses in a way that creates a continuous flow of activity. Outdoor dining, rooftop venues, laneway activation and a curated events program are all part of the strategy, alongside significant public domain upgrades that aim to improve comfort, safety and usability.

&nbsp;

The second ambition is to transform Bondi Junction into a world-class interchange.

Despite being one of the most heavily used transport nodes in Sydney, the current experience is fragmented. Connections between the station, Westfield, Oxford Street Mall and surrounding streets are often unclear, and major roads create physical barriers that disrupt pedestrian movement.

The Master Plan proposes a more seamless, people-focused network. That includes clearer pedestrian links, improved wayfinding, better integration between transport modes, and a rethinking of how arrival into the centre is experienced. The aim is to shift the perception of Bondi Junction from a place people move through, to a place they arrive in.

The third ambition focuses on greening and open space.

One of the more consistent pieces of community feedback throughout the Vision phase was the need for more greenery, better public spaces, and a more comfortable urban environment. Despite being surrounded by major parks, Bondi Junction itself has relatively limited accessible open space, with much of the public realm dominated by hard surfaces and traffic infrastructure.

The plan responds with a network of new and upgraded public spaces, increased tree canopy, and what it terms the “Parkline,” a green link connecting Waverley Park through to Centennial Park. This is not just about aesthetics. It is about addressing heat, improving liveability, and ensuring that increased density is matched by access to high-quality outdoor space.

The fourth ambition is perhaps the most important from a development perspective: growth that gives back.

Bondi Junction is already the primary location for new housing supply in the Waverley LGA, and that is expected to continue. The area carries a target of 2,400 new dwellings by 2029, with further growth projected beyond that as demand for well-located housing continues to rise. The Master Plan does not seek to limit that growth. Instead, it attempts to shape it.

New housing is to be concentrated around transport, with stepped building heights designed to protect the character of surrounding neighbourhoods. At the same time, the plan introduces a more explicit link between development uplift and public benefit. This is where value capture becomes central.

The document outlines a framework where increased development potential is tied to contributions that fund public domain improvements, community infrastructure, open space, and affordable housing. It is an approach that recognises that much of the transformation of Bondi Junction will be delivered by the private sector, but seeks to ensure that the benefits of that growth are shared more broadly. The Civic Precinct is a key part of that equation.

Leveraging Council-owned land, the plan proposes a consolidated civic and cultural hub centred around Ebley Street. This would include new community facilities, cultural spaces, and potentially a new Council Chambers, creating a focal point for civic life that currently does not exist in Bondi Junction at scale.

It is one of several catalyst projects identified in the Master Plan, alongside the Oxford Street Mall transformation. These projects are intended to anchor change, acting as early interventions that unlock broader investment across the precinct.

Importantly, the Master Plan is not just a design document. It includes a delivery framework that sets out how these ambitions are intended to be realised.

Council is explicit in acknowledging that it cannot deliver the transformation alone. Implementation will require coordination between State agencies, private developers, landowners and the community, with a mix of planning agreements, infrastructure contributions and direct delivery mechanisms used to fund and stage improvements over time.

The plan outlines a mix of short-term, medium-term and long-term actions, from immediate public domain upgrades and planning controls, through to larger-scale projects that will unfold over the next decade or more. In practical terms, the next 12 to 24 months will be the most important.

This is when the Master Plan will move through exhibition, refinement and eventual adoption. It is also the period in which Council will seek to embed the framework into its planning controls, giving it weight in the assessment of future development applications.

Council officers have indicated that once the Master Plan is in place, it could be used as a benchmark when assessing Housing Delivery Authority proposals, and potentially reduce the need for further HDA declarations within Bondi Junction. In effect, it is an attempt to bring planning control back to the local level, while still aligning with State housing targets.

That tension between State-led reform and local planning control is not unique to Waverley. It is playing out across Sydney.

&nbsp;

&nbsp;

&nbsp;

If delivered as intended, Bondi Junction will become denser, more active, and more complex. It will support more residents, more workers, and a wider range of uses, extending beyond its current retail core into a more layered urban environment.

“The civic and cultural heart of Sydney’s East”: Bondi Junction masterplan revealed

Toorak's dress circle St Georges Road, home to some of the city's priciest homes, is set for a rare new apartment development.

Blood Diamond Group, an entity tied to Tina Brandi, wife of David Brandi who has been a prolific bidder on The Block over the years, has filed plans for an ultra-exclusive development across an amalgamated 3,662 sqm site at <a href="https://www.apartments.com.au/new-apartments/104-106-st-georges-road-toorak-vic-3142">104 and 106 St Georges Road</a>.

The proposal would replace two existing homes on the riverfront site with a five-level apartment building cascading down the steeply sloping land toward the Yarra River. Designed by Charles Wright Architects, the development has been carefully shaped around the site’s topography and river environs, with the upper levels stepping back to reduce visual bulk from both St Georges Road and the Yarra corridor.

Planning documents describe the proposal as “a site layout and building typology that is consistent with the emerging character of the area and which provides exceptional amenity for future residents without compromising that of neighbouring properties.”&nbsp;

<img alt="First look: Blood Diamond Group unveils riverfront apartment plans for Toorak Pavilion" data-entity-type="file" data-entity-uuid="ea19a17e-7528-4fa8-b727-05f2f7c025e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Toorak%20pavilion%20a_0.png?VersionId=rZ2IjdoUL_UrRl1sZ4wZHnQXbYUaEmUQ" />

The scheme comprises 12 apartments, including 10 three-bedroom residences, one one-bedroom apartment, and a substantial split-level five-bedroom penthouse. A 624 sqm communal rooftop terrace will crown the building, while three undercroft levels embedded into the hillside will accommodate apartments and basement parking.

The design leverages the site’s dramatic northern outlook across the Yarra River, with living areas and balconies oriented toward the water. A central atrium running the full height of the building is intended to draw natural light deep into the residences and improve internal amenity.

Landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/jack-merlo">Jack Merlo Design &amp; Landscape</a> will play a major role in softening the built form, particularly along the river edge where significant setbacks have been introduced. The proposal includes a minimum 30-metre setback from the Yarra River boundary, preserving a substantial landscaped buffer between the development and the waterway.

While a mature English Oak near the front of the site is proposed for removal, the plans retain a large English Elm closer to the riverfront, alongside other established vegetation in the lower section of the property.

<img alt="First look: Blood Diamond Group unveils riverfront apartment plans for Toorak Pavilion" data-entity-type="file" data-entity-uuid="ed3bf19b-5bc7-482f-bde7-41f709a13c3a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Toorak%20pavilion%20b.png?VersionId=SG_kBGu4rOaSPY8FtVcmPJfSCrstuOfg" />

Architecturally, the building adopts strong horizontal forms with expansive glazing and curved balcony edges facing the river. Planning documents note the upper levels “adopt a receding form” to ensure the building responds appropriately to the Yarra River environs overlay controls.&nbsp;

The surrounding streetscape is characterised by large contemporary homes embedded into the hillside, many presenting as modest one or two-storey forms to the street before expanding toward the river frontage below. The planning report notes this established pattern heavily influenced the massing strategy for Toorak Pavilion.&nbsp;

Until the recent sale of the landmark Clendon Road mansion Coonac for around $130 million, St Georges Road held the state's most expensive home, the $80,000,088 derelict "Ghost House" mansion that was bought by crypto king Ed Craven.&nbsp;

Blair House, also on St Georges Road, sold for $74.5 million in 2022.

First look: Toorak Pavilions slated for dress circle St Georges Road

Six months after a development site on Kangaroo Point’s Shafston Avenue sold for $6.55 million, plans have been lodged for a 23-storey apartment tower.

A company named JMT Mega Capital, understood to be interstate investors when the 1,222 sqm double block traded late last year through Patona Property, is proposing an 84-apartment development in place of the existing low-rise buildings.

The slender tower at <a href="https://www.apartments.com.au/new-apartments/212-220-shafston-avenue-east-brisbane-qld-4169">212–220 Shafston Avenue</a>, overlooking the Brisbane River, has been designed by <a href="https://www.apartments.com.au/architects/aplus-design-group">Aplus Design Group</a>. It will comprise a mix of one-, two- and three-bedroom apartments above six basement levels, topped by rooftop resident amenities.

<img alt="First look: 23-storey Kangaroo Point tower planned for Shafston Avenue riverfront precinct" data-entity-type="file" data-entity-uuid="7e17ba9e-553e-42ef-92b6-22081671521a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium_3.png?VersionId=hlVUf99vrOjUs.vhQs0qV0DhOncUy9T8" />

The development has been designed as a vertically articulated tower with recessed balconies, curved façades and planted edges intended to soften its scale within the evolving Shafston Avenue skyline. In the submitted Urban Design Report, Aplus Design Group said the tower had been “shaped with a slender vertical expression, articulated façades, recessed balcony zones, integrated planting and a clearly defined podium relationship, helping to reduce perceived bulk and create a more elegant contribution to the Shafston Avenue streetscape and broader Kangaroo Point skyline.”

The scheme comprises 84 apartments, including 25 one-bedroom units, 34 two-bedroom apartments and 25 three-bedroom residences. A total of 104 car spaces are proposed across six basement levels, including resident, visitor and accessible parking.

Residents will have access to rooftop communal open space and shared amenities, while the development also incorporates deep planting zones and subtropical landscaping throughout the podium and tower levels. The project includes 35 per cent communal space coverage across the site and a 17.5 per cent deep soil zone allocation to support urban greening outcomes.

The application exceeds the mapped building height under the Kangaroo Point Peninsula Neighbourhood Plan and is being assessed under Brisbane City Council’s impact assessment pathway. The design team argues the additional height is supported by the site’s strategic inner-city location, existing high-density zoning, and proximity to transport and employment hubs.

“The design has been developed to make better use of a well-serviced urban site within an established high-density residential setting, while improving the street presentation and overall quality of the public realm interface,” the report states.

<img alt="First look: 23-storey Kangaroo Point tower planned for Shafston Avenue riverfront precinct" data-entity-type="file" data-entity-uuid="1ab44b1e-ff45-4bf3-8da8-8aa0cd79db33" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_10.png?VersionId=tSxeGekZOqj1e9g3PEn_yFoC3taKDp3U" />

The proposal adds to a growing pipeline of apartment developments reshaping Kangaroo Point ahead of the 2032 Brisbane Olympic Games, with demand continuing to strengthen for new housing supply in well-connected inner-city precincts.

Mosaic has nearly sold out its under-construction <a href="https://www.apartments.com.au/new-apartments/the-bedford-by-mosaic-16-30-prospect-street-kangaroo-point-qld-4169">The Bedford by Mosaic</a>&nbsp;and <a href="https://www.apartments.com.au/new-apartments/the-carter-by-mosaic-77-linton-street-kangaroo-point-qld-4169">The Carter</a>,&nbsp;while Pikos recently completed <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye Residences</a> nearby. Pikos is also delivering <a href="https://www.apartments.com.au/new-apartments/gaia-kangaroo-point-108-lambert-street-kangaroo-point-qld-4169">Gaia</a>, over 230 three- and four-bedroom apartments on Lambert Street.

First look: 23-storey Kangaroo Point apartment tower planned for Shafston Avenue riverfront precinct

Villa World

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AVID Property Group has taken ownership of residential developer Villa World Limited, positioning the new combined business amongst the top 10 land developers in the country.
The $410 million acquisition will see AVID’s portfolio increase from 10 to 37 projects and more than 12,000 residential lots, securing a gross revenue pipeline of $4.7 billion.
AVID CEO Cameron Holt takes the helm of the new combined business, which see a broadening in the range of house and land offers for future home buyers.
“The success of this acquisition firmly positions the company up there as a key national residential property contributor,” Holt said.
Holt said a new executive team combines leaders from both AVID and Villa World.
“All of our leaders share a deep passion for their teams, their customers and for driving quality and innovation, which will support this exciting growth phase,” he said.
With an expanded residential portfolio and geographic footprint across Australia’s eastern seaboard, AVID and Villa World will continue to operate under both brands.
Villa World ceased trading on the ASX on October 16, 2019 following a majority shareholder vote in favour of the acquisition.
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j.ballantyne1990-6AQqhLzZaK

AVID acquires Villa World, now 'Top 10' land developer

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Villa World said while sales for the period HY19 were down, however property settlements for the period were generally consistent with the previous period.
Managing Director and CEO Craig Treasure (pictured) said, “The current challenging market conditions are part of the cyclical nature of the property industry."
"However, Villa World has a long history of successfully navigating through market cycles and has a forward strategy focused on helping people reach home and long-term value creation."
"We believe Villa World is well placed to capitalise on opportunities that will arise for astute acquisitions and partnering arrangements."
"In the current market conditions, we have invigorated our sales strategy to highlight our value product offering in our sector," he stated
The Company made a $17.6 million after tax HY19 profit, compared with $17.3 million for the same period last year.
Queensland flagship projects including The Meadows (Strathpine), Killara (Logan) and Arundel Springs (Gold Coast) "sold well"
Although Victoria's property market has moderated, some of Villa World’s Victorian projects have remained consistent, notably the Wollert joint venture project.
Villa World said as previously stated, delivery times on Victorian projects are taking longer than anticipated.
Several stages in the Company’s Victorian projects are scheduled for completion in late FY19, with some likely to extend into HY20.
They belive Market conditions and the availability of customer credit are likely to remain challenging for the remainder of FY19. Plus the upcoming federal and NSW elections may also lead to increased customer uncertainty.
GNet tangible assets at 31 December 2018 represented $2.31 per share.
Mr Treasure said, “the Company has conviction that its projects are located where people want to live, its homes are priced within reach of its customers, and its turnkey homes offer a unique customer experience."
"With sound financial fundamentals, prudent capital management and a committed team, the company has the foundations and resources to provide sustained success and shareholder value beyond the current sector dynamics," he concluded.
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Residential house and land developer Villa World sales down in HY19

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Villa World has delivered a fifth year of double digit growth.
Villa World recorded a net profit after tax of $43.6 million (34.4 cps), up 15% on last year's result of $37.8 million.
Villa World chairman Mark Jewell said the S&amp;P/ASX 300 company’s year-on-year growth demonstrated that its financial strategy and commitment to delivering its core affordable house-and-land and land-only product was on track.
“The board has now turned its attention to the next phase,” he said.
It has welcomed a new board member, former Nike Inc Vice President, Lisa MacCallum, who takes up the independent non-executive director role.
“The addition of Lisa MacCallum to the Board will help us achieve this,” Jewell said.
During 13 years with Nike, she led major business turnarounds in the company’s US retail sales and growth initiatives.
With a background in accounting and consulting with KPMG in Australian and the US, MacCallum co-founded a Tokyo-based multimedia and broadcasting company.
She is a board member of British Telecom (BT) PLC.
Jewell said MacCallum’s global corporate experience and perspective would enhance the Villa World Board and help drive the company as it begins implementing a newly-endorsed purpose and beliefs focused on people, customers and community.
At its annual results announcement, Villa World reported a 39% increase in sales, up from 1,207 lots in FY17 to 1,678 lots.
Revenue increased to $441.6 million in FY18, up from $386.8 million last year.
The Villa World Board declared a full year dividend of 18.5 cents per share fully franked, representing a yield of 8.6%1.
Looking ahead, the company is targeting a statutory profit after tax of approximately $40 million in FY19.
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Villa World announces fifth consecutive year of double-digit growth

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The residential property developer Villa World plans a 273-lot subdivision in Melbourne’s Plumpton.
It has entered into a development rights agreement over a 15 hectare site.
Set within Melbourne's north-western growth corridor, close to Caroline Springs, Villa World continues to grow its foothold in the Plumpton corridor.
Villa World Victoria state manager Andrew Ashwood noted the company had the 165-lot Sienna project.
Since 2015 Villa World have seen strong sales at Sienna Rise and Sienna North, to be followed by a further 382 house-and-land lots nearby, Ashwood said.
The latest Plumpton development will offer homesites averaging 400 square metres and priced from $325,000.
Villa World is also progressing its joint venture with Ho Bee Land Limited to develop a 15.73 hectare site located in Wollert, 25 kilometres north of Melbourne CBD.
Overall, the Company continues to benefit from strong national sales, new partnerships and earnings from joint ventures.Established in 1986, Villa World is an ASX300 listed residential property developer, specialising in contemporary Australian homes and land, in master planned communities in the east coast States.
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Villa World adds more Plumpton house and land lots

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House and land developer Villa World said it had posted its fourth consecutive full-year profit growth.
It guided for a full-year profit after tax of $41.6 million for the 2017-18 financial year,  a growth of 10% over FY17 based on the assumptions that interest rates would stay low and first home buyer grants would remain in place.
Villa World said it made a statutory profit after tax of $37.8 million  for the financial year ended June 30, up 12 percent from the previous year.
Commenting on the results, CEO and managing director Craig Treasure said in an ASX announcement that Villa World’s strategy of maintaining a pipeline of projects, while also “diversifying both geographically and in our product mix within the residential house and land market”, had generated consistent cash flow for Villa World. 
The group said its impressive performance was because of its less exposure to investors, which brings in more volatility.
"We're isolated from a bank shutdown and we only have 20 per cent investors ... as far as international buyers go, there are very few," Treasure told The Australian Financial Review.  
<a href="https://www.propertyobserver.com.au/images/2017/08/16/VillaWorld.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/08/16/VillaWorld.png" alt="">
Villa World's steady sales, despite a low investor base, show there is a lot of demand left in the local owner-occupier market. 
The property group’s settlements of wholly owned lots rose to 1,116 from the previous year’s 1,073, though revenue from them was flat.
Queensland continued to be the biggest contributor to the group’s performance, making up 71% of sales, slightly down from FY16’s 74%. Victorian projects contributed 21% of sales while New South Wales made up the remaining 8%.
The company acquired 3,454 lots in the financial year in northern Brisbane, Logan, north-west and south-east Melbourne, which it said would provide product continuity for several years. 
The board has declared a fully franked dividend of 18.5¢ per share in 2017. 
Villa World acquires, develops and markets residential land and house and land estates across the east coast.
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Villa World profit up, expects solid 2018 on FHBs, low interest rates 

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Almost 50 percent of Villa World's latest stage of its Brisbane Rochedale Grand release sold in two weeks.
The latest stage of the 167-home development features city views.
Gary Hunter, Villa World development manager said 14 of its 20 contemporary homes already snapped up.
“We had many prospective buyers who had registered their interest with us well ahead of the release,” he said.
“That anticipation is certainly reflected in the rate of sales since these homes hit the market.
“It’s an outstanding response and we’re thrilled that Rochedale Grand is achieving such strong market traction.
"Most of the buyers were owner-occupiers from surrounding suburbs such as Sunnybank, Sunnybank Hills and Eight Mile Plains.
"Buyers are a mix of young professionals buying their first homes and families wanting to upsize.
“They’re trading their circa 1970s and 1980s homes for a contemporary and spacious residence that doesn’t have the maintenance issues of a long-established house.
“They love the ease of access to major roads such as the M1 and Gateway Motorway and the fact that Brisbane’s extensive public transport network is within walking distance.
“Many also want to live close to Redeemer Lutheran College for their children’s education.”
The latest release in Rochedale Grand features architect-designed, two-level homes with four bedrooms, 2.5 bathrooms, designer kitchen with 900mm stainless steel appliances and ducted air conditioning throughout.
The homes are on lots ranging from 313sqm to 541sqm.
Land is priced from $365,000 with house and land packages available from $712,500.
For more information, <a href="https://www.rochedalegrand.com.au" target="_blank">click here</a>. 
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Villa World's Rochedale Grand selling fast

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Property developer Villa World has noted profitable half-year financial results, pushing an upgrade to their full-year guidance.
Full year guidance has been amended to an after tax profit of $37.5 million, showing growth of 11 percent over FY16 ($33.7 million).
Half-year statutory net profit after tax was noted at $19.6 million (17.4 cps), compared to a net profit after tax of $20.4 million (18.5 cps) for the half year to 31 December 2015.
Villa World gave half-year guidance in the range of $19.5 - 21.4 million, released on 6 December 2016, with sales of Victorian land and housing projects carried forward into 2H17.
Craig Treasure, Villa World managing director and chief executive officer said Villa World was primed for a strong end-of-year result, off the back of a 35 percent increase in half-year sales (1H17: 673 sales; 1H16: 497) and around $192 million in carried forward sales contracts.
"Around 86 percent of those contracts (479 lots valued at $161 million) are expected to settle in 2H17, with the balance settling in FY18," he said.
"The Board anticipates paying total dividends of 18.5 cents per share fully franked in FY17, representing a yield of 7.7 percent.
"Villa World was well placed to outstrip its FY16 sales performance and achieve at least 1,185 sales.
“The strength of the Queensland housing market, particularly in the Brisbane-Gold Coast corridor and similar growth corridors around Melbourne and Sydney, is continuing to reap excellent results for Villa World.
"Queensland dominated the Company’s revenue gains, contributing 84 percent this half-year (1H16: 86 percent)."
"House and land products represent 66 percent of revenue (1H16: 76%).
“We continue to focus heavily on our core, being the retail market comprising owner occupiers including first home buyers, as well as builders and predominantly local investors.
“These market segments are holding up very well leading us to anticipate steady growth in both sales volumes and price point as we look ahead to the remainder of FY17 and into FY18.
We are looking forward to releasing new flagship projects at Killara, in Logan, and Arundel Springs, on the Gold Coast, and expect strong market conditions will continue to drive sales.”
He said Villa World would continue to consolidate its growth base in Queensland as well as diversify its profile across Victoria and New South Wales.
“We are continuing to replenish land stock through strategic purchases in proven growth corridors and take advantage of opportunities to diversify our geographic footprint along the east coast,” he said.
In the half year to 31 December 2016, Villa World acquired 1,496 lots for a total portfolio of 6,386 lots.
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