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This High-Powered Real-Estate Fund Is Run by College Students

On a recent summer Sunday afternoon, Brooks Hiller was hunkered over his laptop at his apartment in Chicago, dialing in to hour three of a marathon series of conference calls on real-estate deals.

The 21-year-old isn’t a professional, and he doesn’t make a dime from this work. He is a rising senior at Indiana University’s Kelley School of Business, where he leads a team of 20 undergraduates who manage about $12 million in equity.

Those students operate their own real-estate investment business, called Sample Gates Management, named for the Gothic-style limestone arches that are the gateway to the Bloomington campus.

Unlike the many student investment clubs that deploy university money or rely on donations, the Indiana group raises funds from third parties and invests in properties across the country, such as apartment developments and industrial parks.

As a high schooler, Hiller was so enamored with the program—by most accounts, the undergraduate-run real-estate investment group that manages the most capital—that he chose to attend Indiana with hopes of being a part of it.

Brooks Hiller with his parents Jeff and Heather Hiller at the Sample Gates on Indiana University Bloomington's campus.
Brooks Hiller, with his parents Jeff and Heather Hiller, at Indiana University’s Sample Gates in Bloomington in 2023.

“Students get the experience, the school gets a better education for their students, and the investors are making their money back and get to be a part of the program again,” Hiller said. “I really wanted to be part of that.”

The group’s success is emblematic of changes transforming both higher education and the real-estate industry.

An industry that once revolved around information shared at private clubs or events has become a highly digitized landscape. It’s now flooded with standardized public-market data, so much so that undergraduates can readily peer inside and participate on nearly equal footing.

Meanwhile, colleges in recent decades have championed what is called “experiential learning,” encouraging students to do the hands-on work that will teach them the practical job skills they can’t learn in traditional classroom settings. Plus, dozens of universities now offer real-estate degrees, minors or concentrations for undergraduates.

“At its core, this program wouldn’t have existed 30 years ago,” said Harvard University real-estate professor Avis Devine.

This summer, Sample Gates Management sold its first investment, an industrial warehouse development in Indianapolis. In about 16 months, the fund earned a 65% gross profit on that property.

“That’s a really fantastic return in this environment,” one that would be “good for sort of any professional firm, not just students,” said Tim Morris, a member of the board responsible for approving the students’ investments, who is a founder and co-managing partner of the real-estate firm Proprium Capital Partners.

That property was an “easy yes” investment, Tom Peck, the students’ faculty adviser, recalled. It would diversify the group’s investment portfolio, and a reliable tenant was committed to leasing the building once it was finished, Peck said.

Most of the fund remains tied up in investments, making it difficult to gauge exactly how well it is performing overall.

Aerial view of a large industrial warehouse building under construction with dirt lots and a few trucks.
Sample Gates Management sold its first investment property, an Indianapolis warehouse development, this summer. Gershman Partners/Citimark

A decade ago, there were only a few student-managed real-estate funds in the country. Today, there are at least 18, and two more are set to launch this school year, according to Mariya Letdin, a real-estate professor at Florida State University who has researched student-managed investment funds and advises one herself.

And yet, although a program like Sample Gates is an attractive resume line that provides unique experience among undergraduates, it isn’t necessarily a launching pad to help students secure jobs. Because of Wall Street’s summer-internship pipelines and early recruiting timelines, many of the 20 seniors in the group have already secured full-time jobs at global giants before they even touch Sample Gates funds.

In fact, the students’ professional experience—some of them participate in internships all three summers of college—is often a boon for Sample Gates. Students’ stints at institutional shops have left them with a “networking mindset” that “snowballs very quickly into a really, really good Rolodex,” Morris said.

At the Kelley School, where currently 278 students are majoring in real estate, faculty picked only 20 to manage the private-equity fund. The rising seniors were selected from Kelley’s already competitive roughly 60-student commercial real-estate workshop, in which students analyze deals and pitch them to mock committees.

In 2022, for the group’s first round of fundraising, Sample Gates raised $4.2 million from 46 investors, 40% more than their goal of $3 million. Last year’s cohort raised $7.8 million from 74 investors in the second round of fundraising, with one investor forking over $700,000. Some investors put money into both funds.

Construction site with two workers walking past new buildings.
The construction site of another project that Sample Gates Management invested in. Thanasi Georgiadis

Many of the investors are Indiana alumni now working in the real-estate industry themselves. They expect the students to return a profit, but they are also enthusiastic about fostering the young program and meeting standout students.

The student managers screen between three and eight deals each week, which could mean they evaluate up to 400 potential investments a year. However, between 2023 and 2025, they selected only 12 investments, ranging in location from Indiana to Arizona.

Once a potential investment passes an initial screening, a team builds financial models and meets with prospective partners to pressure-test the viability of a deal.

For students to move forward with an investment, they must present it to their investment committee, a board of 10 seasoned real-estate executives. The committee has to sign off on all deals, and they reject roughly a third of the ones the undergraduates bring to the table.

And if the students think they can pitch an investment without getting their eyes on the physical property—regardless of where it is located— they would best think again.

Some observers predict that students might be disappointed when they start their full-time jobs because of the shift from doing the highest-level work of managing a fund to being a lowly analyst at a large firm.

“To have all of these skill sets in a short period of time and then to go be an associate for Blackstone would be mentally defeating,” said Rhett Trees, an investor in Sample Gates and Indiana alum who is the chief executive of a Denver-based real-estate private-equity firm.

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Kanebridge Property of the Week: $28 million Stoneleigh, Darlinghurst, shoots for residential auction record

The 1860s Darlinghurst mansion Stoneleigh could become Sydney’s most expensive home ever sold under the hammer when it goes to auction.

Clint Ballard is giving buyers a $28 million guide for the heritage-listed mansion on Darley Street, opposite Iona, the former home of Hollywood royalty Baz Luhrmann.

Stoneleigh is being offered for sale for the first time in 36 years. The home is owned by jeweller Vanessa Wong, who took the keys in 2016, after the Wong family paid $3.18 million in 1990. Wong renovated the home shortly after taking ownership, adding a pool to its 650 sqm grounds.

A Landmark on the Heritage Register

‘Stoneleigh’ is recognised on the NSW State Heritage Register for its architectural elegance and historical significance, and remains a defining presence within the tightly held Darlinghurst Ridge heritage precinct, an enclave prized for its concentration of intact colonial and Victorian-era residences just minutes from the CBD.

While the bones of the home date to 1860, its current form reflects a considered architectural transformation by Brian Hess, with landscaping by Dangar Barin Smith, that reconciles the villa’s historic fabric with the demands of contemporary living.

Stoneleigh was added to the State Heritage Register in 1999. It features a hipped corrugated steel roof, a bank of 12 paned timber framed double hung windows to the first floor, and arched colonnade to the ground floor, all set behind a Victorian cast iron palisade fence and colonnade extends around one side of the building. 

Two of its previous owners have included Richard Jones, who was Chairman of the Commercial Banking Company of Sydney and the founder of the Maitland Mercury newspaper. He owned the home for around two decades from 1870. From the mid-1890s, J. Russell French, who was General Manager of the Bank of New South Wales, had the keys.

Grand Interiors, Resort-Style Grounds

Inside, the home unfolds across multiple levels, anchored by a statement marble kitchen with integrated dining that flows into expansive formal and informal living zones. These spaces open out to a private terrace and tropical gardens, blurring the line between indoor and outdoor living in a way that’s become the calling card of Sydney’s top-tier renovations.

The outdoor offering is a standout in its own right: a 3-metre-deep mineral pool with geothermal heating anchors a resort-style entertaining garden designed for year-round use, an increasingly sought-after feature among buyers at the top of the market.

Accommodation is generous with six bedrooms in total. There are two master suites, including a primary retreat built around a Japanese Hinoki bath, along with additional bedrooms, terraces and substantial storage, a rare inclusion in an inner-city heritage home of this era.

Finishes throughout run to French Oak flooring, hand-applied Marrakech plaster walls, bespoke lighting by Michael Anastassiades and a Stuv fireplace, all supported by advanced geothermal climate control, ducted air conditioning and a full security system. A cellar on the lower ground floor houses a functioning heritage well, a genuinely rare survivor that underscores just how much of the property’s 19th-century character has been preserved.

Perhaps most notably for an inner-city heritage property, ‘Stoneleigh’ offers secure parking for up to five vehicles, a feature agents will no doubt lean on heavily, given how scarce multi-car garaging is within walking distance of the city.

Key Features

  • Architecturally redesigned by Brian Hess with landscaping by Dangar Barin Smith
  • Landmark c.1860 Victorian Regency residence with a refined contemporary transformation
  • Resort-style outdoor living with mineral pool, geothermal heating and tropical gardens
  • Designer marble kitchen with integrated dining and Sub-Zero, Wolf and Miele appliances
  • Multiple formal and informal living zones flowing to an outdoor entertaining terrace
  • Two master suites, including a primary retreat with a Japanese Hinoki bath, plus additional bedrooms
  • French Oak flooring, Marrakech plaster finishes and bespoke lighting throughout
  • Advanced geothermal heating/cooling, ducted air conditioning and full security system
  • Stuv fireplace, Michael Anastassiades lighting, retractable awnings
  • Secure parking for up to five vehicles — a rare inner-city offering
  • Level walk to fine dining, bars, cafes and train stations; 2km to the CBD
  • Moments from some of Sydney’s finest schools, including Ascham, SCEGGS and Sydney Grammar

A New Record?

The highest price ever paid for a residential house sold under the hammer in Sydney is $24.6 million, for a home in Vaucluse in September 2020.

Bidding opened at $13 million for the 1,085-square-metre block against an $11 million price guide, and the hammer fell at $24.6 million — well above the $14 million reserve. A young Australian-Chinese couple who’d never bid at auction before walkedaway with the keys. That result broke the previous auction record of $23 million, set by media scion Lachlan Murdoch’s purchase of the Bellevue Hill mansion “Le Manoir” in 2009.

Late last year, Iona, across the road from Stoneleigh, sold by private treaty for $37.5 million. It was bought by Bryant Stokes, son of the billionaire Channel 7 chairman Kerry Stokes, and his wife Dominique. It was sold by investment banker Tim Eustace and his partner Salvador Panui, who bought it from film director Baz Luhrmann for $16 million in 2015.

 

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Helicopter Parents Are Co-Piloting Their Adult Children’s Careers

Steven Clark had the unpleasant task of firing a 24-year-old—twice. Once was in a brief conversation with the new hire, who’d showed up late or not at all four times in his first week at a construction job.

Then Clark had to do it all over again, this time with the guy’s mother.

She called him a few hours later, pleading to give her son another chance. When Clark told her no, things got heated before he ended the call.

“I said, ‘Look, you know, this is between us and your son. He’s the employee,’” says Clark, who is chief operating officer of a Fairbanks, Alaska-based staffing firm.

Gen Zers make up nearly one-fifth of the adult workforce, and bosses and recruiters say it often feels like the nervous parents who hovered over them through childhood and college are right alongside them. What began as the occasional parent ride-along to a job interview coming out of the Covid era is now full-on career “co-piloting,” said Jasmine Escalera, head career coach at résumé templates service Zety.

More parents are calling up hiring managers, applying for jobs on their adult child’s behalf, and even showing up—or lurking just off-screen—on Zoom calls to help navigate difficult conversations or go over benefits packages.

“The first time it happened, I was appalled,” says Clark, who has fielded calls from parents asking why their child didn’t get a job. “Since then it’s become more of a here-we-go-again reaction.”

Human resource professionals have expressed outrage on social media.

“Parents should not be calling employers to check on their application status or ask questions on behalf of their child,” says Lynne Alba, a director of talent acquisition and physician recruitment at a large health system on Long Island, who vented about the phenomenon in a Tik Tok video she reposted on LinkedIn.

Lynne Alba
Lynne Alba Lynne Alba

At a recent job fair, a mother approached Alba with her daughter’s résumé, explaining that she wanted to work as a nurse. “While I appreciated that she was trying to help, I intentionally shifted my attention to her daughter. No matter what Mom said, I wanted to hear directly from the candidate,” says Alba.

Some parents who step in say it’s a challenging job market for young people, and that they would only intervene in extreme circumstances—social anxiety, a toxic boss, unfair treatment. There’s also a gray area of intervention that some see as an extension of the parental advice and networking help that’s been happening for generations.

Rick Wainschel last year published a post on LinkedIn asking his network to help his daughter, a recent college graduate, find a corporate entry-level position.

Wainschel, a vice president at an automotive marketing technology company, says he doesn’t think his outreach qualifies as helicoptering. “Well, maybe a little,” he said, before quickly adding he was being half tongue-in-cheek. “It was really merely just to help her get a network established. I just think the work world is a challenging place.”

Wainschel’s post, which was OK’d by his daughter on the condition he didn’t embarrass her, didn’t lead to a job but did result in productive conversations, he said. She found a job with a credit union on her own shortly after.

Recruiters and other HR types say aggressive parental involvement signals a lack of independence and raises fears that mom and dad will be checking in regularly if their kid gets hired.

What’s more, they say, such interference rarely, if ever, works.

The phenomenon is becoming so commonplace it made the agenda of human resources organization SHRM’s national conference in June. When James Harrell asked a room of 250 professionals if they ever had a parent calling on behalf of a young employee or coming to an interview, more than half raised their hands.

“The first time it happened to me, I got high up on my soapbox and I shook my fist,” Harrell says. “The 15th time I said, ‘OK, well, I gotta figure out how to do something differently.’”

Harrell helped run an apprenticeship program for high-school students while he was the human capital management chief for the San Antonio Independent School District. To run interference, the district introduced a “signing day” when parents could come and ask questions.

After a Gen Z employee at Nation’s Best Holdings, a chain of hardware and home goods stores, didn’t get an “exceeds expectations” designation on his performance review last year, HR chief Amber Little got a call asking why.

Amber Little
Amber Little Amber Little

It was one of a number of calls from parents her office has picked up recently about issues ranging from negative feedback to understanding which health insurance plan to choose. Little has even noticed parents are now calling in sick for their adult kids.

“Instead of coaching them, they do it for them,” Little says. When it happens, she adds, “we encourage them to tell their child to come talk to us and we will walk them through it.”

A Zety survey of more than 1,000 Gen Zers found 20% had a parent attend a job interview with them.

“You get a sense it’s all hands on deck for some families,” says Keith Wolf, managing partner of recruiting firm Murray Resources in Houston. His office has received emails from parents seeking jobs for their children, and Wolf says he’s always wondered if the kids even knew.

Paul “PB” Branson, who graduated from the University of Missouri-Columbia in May, bristles at the thought. The 22-year-old says while he understands their anxiety, parents shouldn’t be joining their children’s job interviews or contacting employees on their behalf.

“That trend,” he says, “has really hurt my generation by creating this kind of stereotype that we need our hands held.”

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Australia’s Top 10 Finance Influencers of 2026

The best financial advice many Australians are receiving right now is not coming from licensed advisers charging by the hour. It is coming through a phone screen, in the ten minutes between work and dinner, from creators who have built credibility the hard way: by being right, being transparent, and being specific in a space where vagueness has always been the easy default.

This is not a ranking by follower count. Follower count is a measure of distribution, not of quality. What follows is a ranking by substance — credentials, accuracy, community depth, and the quality of what an audience actually learns from following these accounts. The distinction matters, because the Australians acting on this content are making real financial decisions with real money.

1- Queenie Tan – Corporate Authorised Representative; Co-Founder & Director, Invest With Queenie & Billroo

There are finance influencers who talk about building wealth, and there are those who document it in real time with receipts. Queenie Tan belongs firmly in the second category. Starting from a $400-per-week income, Tan built her net worth past $1 million while publishing the actual numbers — income, savings rate, investment decisions — for an audience of more than 400,000 across platforms.

She is a Corporate Authorised Representative, co-founder of the personal finance app Billroo, and the author of a book that has become a practical reference for young Australians navigating ETFs, superannuation and property. What separates her from the crowded field of money educators is precision: she does not talk in principles when she can talk in percentages.

Photo: @investwithqueenie

2- Alan Kohler – Editor-in-Chief, Eureka Report; Editor-in-Chief, InvestSMART Group; ABC News finance presenter, host of Inside Business.

If Queenie Tan represents the new wave of personal finance creators, Alan Kohler represents something the new wave will spend decades trying to build: institutional credibility that has survived multiple economic cycles. As Editor-in-Chief of the Eureka Report and InvestSMART Group, and a decades-long presence on ABC News, Kohler has spent more than thirty years making financial analysis accessible without dumbing it down.

His coverage of RBA decisions, market movements and economic policy is cited by podcasters, journalists and fund managers alike. He is not chasing virality. He does not need to.

Photo: Alan Kohler

3- Aleks Nikolic – Corporate lawyer; host, Big Swinging Stocks podcast

Most finance creators address the mechanics of money. Aleks Nikolic addresses the psychology — and that distinction explains why her following is as loyal as it is. Operating as Broke Girl Wealth across Instagram, TikTok and YouTube, Nikolic covers ETFs, crypto and investment strategy, but her real differentiator is a willingness to discuss the emotional architecture of financial decision-making.

Shame around debt. Fear around market volatility. The limiting beliefs that stop people acting on what they already know. In a space where confidence is routinely performed, her candour is a genuine competitive advantage.

Photo: @brokegirlwealth

4- Bryce Leske & Alec Renehan – Equity Mates Media

Equity Mates did not build a following. They built a media company. What began as a podcast by two friends learning to invest has grown into Australia’s most established investing media brand, covering ASX stocks, ETFs, global markets and fund manager interviews across podcast, social and YouTube.

The longevity is the credential. Equity Mates has operated through multiple market cycles, a global pandemic, and a generational shift in how Australians engage with investing — and its audience has grown through all of it. When the hosts speak, their listeners know they have been paying attention for years.

Photo: Equity Mates

5- The Lazy CEO – CEO & Founder, Showpo; Shark Tank Australia investor

The metric that matters most on social media is not followers — it is engagement, because engagement signals trust. Jane Lu, known as The Lazy CEO, maintains an engagement rate of approximately 1.15 per cent on Instagram, which is exceptional for a finance account of his size. Her 242,000-plus followers are not passive consumers: they ask questions, share experiences and apply what they read.

Her content focuses on business finance and wealth building, and the active comment sections are the clearest possible evidence that her audience does not merely scroll past.

Photo: @thelazyceo

6- Tash Invests – Founder, Tash Lends; Forbes Australia 30 Under 30

Tash Invests built her following on a premise that sounds simple but is rarer in practice than it should be: she publishes the actual numbers. Not approximations or ranges or anonymised case studies — her salary, her savings rate, her portfolio value, her net worth, updated and on the record.

Having bought her first property at twenty-two and grown her documented net worth past $1 million, she has become the primary reference point for young Australians trying to understand what building wealth on a moderate income genuinely looks like. The specificity is the product.

Photo: @tashinvests

7- David Scutt – APAC Market Analyst at StoneX Group

The authority of most finance social media content rests on research and reading. David Scutt‘s authority rests on having done the job. A former Treasury Dealer at Arab Bank and the Commonwealth Bank, former ASX Business Supervisor, and former Global Markets Editor at Business Insider Australia and anchor at ausbiz TV, Scutt now brings that direct market experience to his role as APAC Market Analyst at StoneX Group, rather than relying on secondary commentary.

When he discusses foreign exchange movements or ASX dynamics, it is not because he has read about them. It is because he has traded them.

Photo: David Scutt

8- Meddy Demars – Investing & crypto content creator

The gap Meddy Demars fills is specific and underserviced: connecting global macroeconomic events to the practical reality of Australian investors. When the US Federal Reserve adjusts interest rates, when inflation data moves, when commodity prices shift — most Australian finance content either ignores the local implications or translates them poorly.

Demars, operating across TikTok and Instagram from Sydney, does the translation well: explaining what global conditions mean for Australian stocks, savings rates and investment portfolios in terms that are accessible without being condescending.

Photo: Meddy Demars

9- Simran Kaur – Founder, Friends That Invest

Friends That Invest is arguably the most successful community-building exercise in Australian personal finance, and Simran Kaur is the reason why. The New Zealand-based creator — whose audience is predominantly Australian — built a podcast, a book and a social media presence around a single insight: that the personal finance world was not speaking to young women, and that the consequences of that gap were significant.

The measurable cultural shift that followed — women engaging with investing concepts in communities that had not previously existed — is the kind of impact that most financial literacy programmes aim for and rarely achieve.

Photo: @friendsthatinvest

10- Effie Zahos – Money Editor at 9News

Effie Zahos is one of Australia’s most recognised financial commentators, appearing regularly across 9News, A Current Affair, Today and Today Extra as 9News Money Editor. Her role puts everyday money questions, from mortgage rates to cost-of-living pressures, in front of a national broadcast audience.

Before television, she spent years as editor of Money magazine, building the editorial foundation for her current commentary. She is also Director and Money Commentator at InvestSMART, an ambassador for Canstar, and a published author, with her financial advice available in print as well as on screen.

That combination, decades of editorial experience, an active broadcast presence, and a body of published work, is what makes her commentary carry weight beyond any single platform or post.

Photo: @effiezahos

The common thread across this list is not follower count or platform presence. It is that each creator has built an audience willing to act on what they say, and for the Australians making financial decisions off the back of this content, that trust is the only thing that actually matters.

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Aussie’s make a splash in Queenstown at $2 billion Lakeview Te Taumata apartment project

A surge in Australian buyers following the recent Federal Budget has driven NZ$37 million in luxury apartment sales in just the past month at Queenstown’s landmark Lakeview Te Taumata development, with investors increasingly looking across the Tasman for premium property opportunities.

Five residences worth a combined NZ$37 million have sold in the past four weeks alone, including four apartments at approximately NZ$8 million each and another at NZ$5 million. The buyers came from Brisbane, the Gold Coast and Victoria, underscoring growing demand from affluent Australians seeking to diversify their property holdings.

The latest sales have pushed total pre-sales at the project towards NZ$200 million ahead of construction commencing on the first stage of the NZ$2 billion-plus development, which is scheduled for completion in 2028.

Australian enquiries have increased by 50 per cent since the Federal Budget, while Australian purchasers now account for approximately 80 per cent of all recent sales, reflecting growing demand from investors reassessing their property portfolios.

The renewed momentum comes as Australian investors respond to changes announced in the recent Federal Budget and increasingly look to New Zealand’s luxury property market, attracted by its premium lifestyle offering and tax settings, including the absence of a broad-based capital gains tax in New Zealand.

Urban Activation Director of Sales Matt George said buyer behaviour had shifted noticeably in recent weeks.

“In the past month alone we’ve secured NZ$37 million in sales to Australian buyers These are sophisticated buyers who are actively looking to diversify their investments while securing exceptional lifestyle assets in internationally recognised destinations.

“Queenstown has always appealed to Australian buyers, but we’re seeing a new level of urgency. The combination of a tightly held luxury market, New Zealand’s tax settings and Queenstown’s global reputation is proving to be a compelling proposition.

“Approaching NZ$200 million in pre-sales before construction commences is a significant milestone. It demonstrates the depth of demand for premium product and provides tremendous confidence as we move into the construction phase.”

Construction of Stage One has commenced with CMP Construction appointed to deliver Building A, comprising a 77 room Alpine Lodge, together with Buildings B and C, delivering 94 luxury apartments. Completion is anticipated in 2028.

Current pricing includes:

  • Two-bedroom apartments from NZ$2 million
  • Dual-key residences (one-bedroom plus studio) from NZ$2.55 million
  • Three-bedroom apartments from NZ$6 million
  • Four-bedroom apartments from NZ$9 million
  • Six-bedroom penthouse from NZ$25.5 million

Designed around wellness, luxury hospitality and world-class alpine living, Lakeview Te Taumata will ultimately comprise luxury residences, internationally branded hotels, restaurants, retail, wellness facilities and public spaces, creating a vibrant extension of the Queenstown town centre.

The NZ$2 billion-plus masterplanned precinct is being delivered by Melbourne-based 94 Feet and is expected to become one of the Southern Hemisphere’s premier lifestyle destinations.

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ABS building approvals June 2026: apartment approvals up 13%, Housing Accord shortfall widens

New dwelling approvals rose 7.2 per cent in June to 18,328, seasonally adjusted, according to Australian Bureau of Statistics data released on 30 July 2026 — ending three consecutive months of decline.

The gain was led by higher-density housing. Private sector dwellings excluding houses — a category covering apartments, townhouses and semi-detached homes — rose 17.8 per cent in June to 7,138, following an 11.0 per cent fall in May. In original terms, apartment approvals alone rose 69.9 per cent in the month to 4,888, which the ABS said was 21.9 per cent above the 12-month average.

Private sector house approvals rose a more modest 0.4 per cent to 10,631, the sixth consecutive month above 10,000 and 15.8 per cent higher than a year earlier. Queensland recorded the largest rise in house approvals (up 2.9 per cent) and South Australia the highest level since August 2021 (up 2.8 per cent), while Western Australia fell 5.4 per cent after a 9.0 per cent rise in May.

For the 2025-26 financial year, 205,249 dwellings were approved in original terms, a 9.2 per cent rise on the 187,944 approved in 2024-25 and the highest annual total since 2020-21. Within that, apartment approvals rose 13.2 per cent for the year, to 48,778 from 43,079. ABS head of construction statistics Daniel Rossi said the average approval value for a new house also continued to climb, reaching $517,430 for the financial year, up 5.0 per cent on $492,931 in 2024-25.

Non-residential building approvals fell 24.7 per cent in June to $8.26 billion, after a record high in May, pulling the total value of building approved down 5.5 per cent to $20.00 billion for the month.

Master Builders Australia, reacting to the same release, said the annual approvals total left the country 47,750 homes short of what is required to meet the National Housing Accord target of 253,000 a year. “The big message from today’s figures is that 47,750 fewer homes were built over the year compared with what we needed, and marks two consecutive years of Accord target shortfall,” said Shane Garrett, the association’s chief economist. Garrett said the Reserve Bank governor had recently acknowledged the housing market was weaker as a result of higher interest rates and recent government policy changes.

Master Builders Australia chief executive Denita Wawn said cost pressures were central to the shortfall, arguing that building a new home is now “almost 50 per cent more expensive than it was before the pandemic,” and citing a Productivity Commission estimate that regulatory costs add around $320,000 to the price of a new house. Wawn called for governments to address construction costs, lift productivity and address workforce shortages.

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Development of the Week: AMALI brings full-floor beachfront living to Main Beach

A collection of only 18 full-floor and two-storey residences has launched on one of the Gold Coast’s most tightly held stretches of beachfront.

AMALI will rise 22 levels at 3535–3537 Main Beach Parade, occupying an 810sqm site with no road separating the building from the sand.

Prices begin at $10.2 million for the three-bedroom full-floor residences, while the development’s two-storey penthouses are being offered from $25 million. Completion is anticipated in early 2029.

The project has received development approval and is being delivered by Eastment Group of Companies, the developer behind the nearby AMANI Main Beach. Core Property Partners is overseeing project strategy, development and construction management.

Bayden Goddard’s BGD Architects has designed the tower, with interiors by multidisciplinary studio Tom Mark Henry and landscaping by Arcadia Landscape Architecture. Kollosche New Projects is handling sales and marketing.

Eighteen residences across 22 levels

Rather than maximising the number of apartments on the beachfront parcel, AMALI has been designed around privacy, space and a low resident population.

The tower will contain 16 full-floor residences and two two-level penthouses. Each home will have uninterrupted views over the Pacific Ocean and private lift access, giving residents an arrival experience more closely associated with a standalone house.

The standard full-floor residences will provide approximately 378sqm of space, with three bedrooms, three bathrooms and parking for two cars. Prices start at $10.2 million.

With only one residence occupying each typical level, the floor plans have been designed to capture natural light, ocean breezes and views in several directions. Generous living spaces will transition into outdoor areas overlooking the beach, creating a direct visual relationship with the coastline.

The two penthouses will extend across two levels and offer approximately 898sqm, with four bedrooms, five bathrooms and four parking spaces each.

Priced from $25 million, each penthouse will also have access to a private rooftop domain incorporating an entertaining lounge, bar, kitchen, terrace and swimming pool. From this elevated position, views will extend across both the ocean and the Gold Coast skyline.

Architecture informed by the coastline

AMALI’s architecture has been conceived as a restrained response to its beachfront setting.

The 22-storey form uses curved edges and layered horizontal elements to soften the tower’s profile, while extensive glazing opens the residences towards the ocean.

Inside, Tom Mark Henry has developed a palette based on the colours and textures of the coast. Natural stone and warm timber veneers will be combined with bronze and brushed-brass detailing, bespoke materials and sculptural lighting.

The approach is intended to create homes that are highly finished without feeling overly formal. Earthy tones and tactile materials will provide warmth, while expansive glazing and open living areas keep the ocean as the primary visual feature.

Private lift access, large floor plates and the absence of shared residential corridors on the typical levels reinforce the project’s emphasis on discretion.

Wellness on the beachfront

Residents will have access to a dedicated wellness precinct anchored by a heated infinity-edge pool overlooking the beach.

The facilities will also include a fully equipped gym, steam room and hot and cold plunge pools, combining exercise and recovery spaces within the building.

Direct beachfront access will allow residents to move from the development to the sand without crossing Main Beach Parade—one of the project’s defining points of difference.

The design positions these shared amenities as an extension of the beachfront lifestyle rather than a separate resort-style podium. With only 18 households using them, the spaces are also expected to offer a greater degree of privacy than facilities in larger apartment towers.

A tightly held Main Beach position

AMALI’s site is within walking distance of the Tedder Avenue dining and retail precinct and a short drive from Marina Mirage, Southport Yacht Club and the broader Main Beach marina district.

The location also places it near a growing cluster of luxury hotel, residential and lifestyle projects reshaping the northern end of the central Gold Coast.

Main Beach has become an increasingly important prestige-apartment market, supported by its relative scarcity of absolute beachfront development sites and proximity to both the ocean and Broadwater.

AMALI enters that market at its highest end. Its $10.2 million entry price positions even the standard residences firmly within the trophy-apartment category, while the two penthouses will compete with the most expensive new residences being offered on the Gold Coast.

The development follows AMANI, another boutique Main Beach project involving Eastment Group, BGD Architects and Core Property Partners. That continuity has allowed the team to carry a similar focus on large residences and limited apartment numbers into an absolute beachfront setting.

Sales are being led by Michael Kollosche and Harry Kakavas of Kollosche New Projects, with private presentations available through the project’s Broadbeach display suite.

With development approval secured and completion targeted for early 2029, AMALI’s launch adds just 18 buying opportunities to a beachfront market where scarcity is part of the proposition.

Its combination of full-floor living, private lift access and direct connection to the sand places the project somewhere between a luxury apartment tower and a collection of elevated beachfront houses—an increasingly sought-after model at the top of the Gold Coast market.

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Property of the Week: Balgowlah Heights trophy home resets suburb record at $17.5 million

A landmark beachfront home in Balgowlah Heights has sold for $17.5 million, setting a new residential record for the tightly held Northern Beaches suburb.

The six-bedroom residence at 30A Beatty Street changed hands on July 21 through Clarke & Humel Property, eclipsing its own previous benchmark by $5.7 million.

The property last sold for $11.8 million in October 2017, a result reported as a Balgowlah Heights record at the time. Its latest sale represents an increase of more than 48% in almost nine years and places it well ahead of other known sales in the suburb.

It is not the first time the address has reshaped local expectations. The home sold for $3.15 million in 2013 before extensive alterations and additions transformed it into the substantial trophy residence seen today. From that transaction to its latest sale, its recorded value has increased more than fivefold.

Occupying 1,074sqm in an exclusive no-through pocket, the property backs directly onto the golden sand of Forty Baskets Beach. A gate at the bottom of the garden opens to the beach and surrounding foreshore walks, creating the kind of direct harbour access rarely available on the Northern Beaches.

The home’s elevated, cascading design takes full advantage of its position. Walls of glass frame panoramic views across North Harbour, while a succession of indoor and outdoor living spaces follows the slope towards the water.

Arrival is suitably dramatic. The four-car garage—complete with harbour views—is connected to the residence by a lift. From there, a covered walkway leads through tropical gardens to an entrance framed by a koi pond, stone flooring and soaring ceilings.

At the centre of the home is an expansive living and entertaining level. A stone kitchen fitted with Miele appliances steps down towards the view, incorporating an integrated refrigerator and freezer and a built-in breakfast bar positioned to overlook the harbour.

The adjoining formal dining room opens through a bi-fold wall to a landscaped side courtyard. A substantial living room, anchored by a gas fireplace, also connects to the main terrace, creating a continuous relationship between the interior, gardens and water.

An electrically operated roof allows the terrace to be used in different weather conditions, while automated internal blinds and ducted airconditioning add to the home’s extensive technology and comfort features.

Outside, the entertaining areas continue around a swimming pool and spa. A built-in barbecue, steam room and generous terraces give the property the atmosphere of a private resort, with the beach only steps away.

The accommodation has been arranged to suit a large or multigenerational household.

Four bedroom suites occupy an upper level, while the main bedroom commands an entire floor. The private retreat includes sweeping harbour views, a large walk-in wardrobe and a luxurious ensuite.

On the lower level, a billiard room and bar are accompanied by two bedrooms and a bathroom. A separate self-contained studio provides further flexibility for extended family, guests or live-in staff.

The residence also includes a private home office, yoga room and extensive storage—features that allow it to function as both a secluded family home and a large-scale entertaining destination.

Sustainability and energy resilience have also been incorporated through solar panels and a Tesla battery.

Despite its rare waterfront setting, the property remains close to the conveniences of the lower Northern Beaches. Bus services are approximately 450 metres away, while Balgowlah Village, local schools and North Harbour Reserve are within easy reach. Manly is about three kilometres from the home.

The sale underlines the scarcity premium attached to Sydney homes combining substantial land, direct beach access and uninterrupted harbour views.

Balgowlah Heights has a median house value of about $4.23 million, according to PropTrack data displayed on realestate.com.au. At more than four times that figure, the Beatty Street result sits in a different tier from the suburb’s conventional prestige market.

Its price is also $6.65 million above the $10.85 million paid for neighbouring 30 Beatty Street in December 2025.

While conventional luxury features helped support the result, the defining asset is one that cannot be readily replicated: a private rear gate opening directly onto Forty Baskets Beach.

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Australia is building apartments at the prices buyers can’t afford

Australia may need more apartments, but new research suggests the homes reaching the market are increasingly disconnected from what buyers can afford.

The realestate.com.au New Homes Buyer Preferences FY26 report reveals a stark mismatch between the budgets of prospective new-apartment buyers and the prices of advertised stock.

Just 12% of surveyed apartment buyers and considerers had a budget of at least $1.5 million. Yet properties at this level represented 53% of the new-apartment listings analysed by realestate.com.au.

At the other end of the market, 36% of prospective buyers were working with budgets below $700,000, while only 11% of advertised new apartments fell into that price bracket.

The middle of the market was also undersupplied relative to demand. Buyers with budgets between $700,000 and $1.499 million accounted for 52% of respondents, compared with 35% of listings.

In other words, almost nine in 10 prospective buyers had less than $1.5 million to spend, but more than half of advertised new apartments were priced above that threshold.

 

The findings come from an independent survey of 2,016 new-home buyers and considerers conducted during February and March 2026. That included 1,003 people in the apartment market, with the survey findings supplemented by realestate.com.au listings data.

The results do not necessarily mean that half of all apartments under construction are premium properties. The listing figures reflect advertised new-apartment stock on realestate.com.au rather than the entire development pipeline. Even so, they provide a clear picture of the properties buyers can see and potentially purchase.

That visible market is heavily weighted towards its most expensive segment.

Budgets are rising, but supply is moving faster

Apartment buyers have substantially increased their budgets in recent years.

The average budget among respondents rose from $861,000 in late 2023 to $934,000 in late 2024 and $988,000 in early 2026—an increase of almost 15% in a little over two years.

The proportion of buyers with less than $700,000 to spend consequently fell from 54% in 2023 to 40% in 2024 and 36% in 2026. Meanwhile, the share targeting the middle price band rose from 38% to 52%.

But this increase in purchasing budgets has not been enough to bring the available stock into alignment with demand. The greatest concentration of advertised apartments remains above $1.5 million, a level accessible to only a small minority of those surveyed.

The mismatch helps explain why demand for new homes can appear healthy without translating smoothly into sales. Buyers may want a new apartment, but interest alone cannot overcome a large gap between their borrowing capacity and the asking price.

Price was the most commonly cited reason people stopped considering a new home. Almost one-third—32%—said buying or building new had become too expensive, up from 29% in the previous survey.

Buyers are spending longer in the market

The affordability gap is also visible in the time apartment buyers spend searching.

The average apartment-buying journey reached 22 months in March 2026, up from 16 months in late 2023. Buyers spent an average of six months monitoring the market and another five months searching for properties before progressing to inspections, offers and settlement.

That means half of the average journey passes before a buyer reaches the stage of seriously inspecting available projects.

Budget shock was identified as the leading reason buyers found it difficult to move forward. Faced with premium-heavy listings, prospective purchasers may need to save a larger deposit, reassess their expectations or wait for a suitable property to become available.

Many are also widening their search.

The average distance apartment buyers were prepared to move increased from 22km in 2024 to 28km in 2026. The proportion looking within five kilometres of their existing home fell from 35% to 29%, while the share considering properties 20km to 50km away rose from 21% to 26%.

This suggests buyers are responding to the pricing mismatch by looking beyond their preferred neighbourhoods rather than simply increasing their budgets.

A development feasibility dilemma

The imbalance does not necessarily reflect a failure to understand the market. New apartment projects face high costs for land, construction, finance, planning and compliance. Developers may favour premium projects because higher sale prices are needed to make construction financially viable.

But the survey illustrates the resulting policy and commercial challenge. Australia needs additional housing, particularly in established locations close to jobs, transport and services. If new apartments can only be delivered at prices beyond the reach of most buyers, increasing the number of projects will not automatically address affordability.

The market risks producing an abundance of choice for a relatively narrow group while leaving the largest pools of demand competing for limited lower-priced stock.

House-and-land listings were more closely aligned with buyer budgets, although that segment also displayed a modest shortage at the premium end. The apartment findings were far more pronounced, making the issue difficult to dismiss as a general preference gap.

There is clear interest in new homes. Eighty-eight per cent of apartment considerers were looking at both new and established properties, while the report found demand for new homes was climbing.

The problem is converting that interest into a purchase.

Until the price composition of new-apartment listings more closely reflects the budgets of prospective buyers, Australia’s apartment challenge will be about more than how many homes are built. It will also be about whether the homes being offered are the ones the market can afford.

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The Rise of Million-Dollar Companies With Just One Employee

Ben Broca launched a company last December that offers AI tools to entrepreneurs. He’s already added 10,000 paying customers and is on track to bring in $10 million in revenue this year.

One thing he hasn’t added: any other employees.

The 40-year-old is part of a class of entrepreneurs who are launching, and then often running, new companies on their own. Artificial intelligence tools answer Broca’s emails, help write and debug code, field requests from customers, sign up new subscribers and grant refunds when issues arise.

Broca relishes his ability to make whatever decisions he wants on his own, often from his sun-drenched Sausalito, Calif., living room. “I think compromises make lukewarm results,” he said.

Once upon a time, running a business of a certain size required a team. AI is turning that assumption upside down, and more aspiring entrepreneurs are going it alone.

Ben Broca sitting in his home office.
Tech has seen an explosion of solo founders in the past year. Broca said he likes being able to work at his own speed, unencumbered by a team. Jonah Reenders for WSJ

An analysis by the payments company Stripe shows there are thousands of solo operators on the company’s platform that are generating over $1 million in revenue, with their ranks doubling between 2023 and 2025. The number of solo operators crossing the $10 million threshold nearly tripled in that same span.

In the past, people without business contacts or particular savvy might not have known how to get their ideas off the ground, said Ernie Tedeschi, Stripe’s chief economist. “Now, AI can be a built-in business partner,” he said.

AI’s ability to handle various administrative tasks makes it potentially useful for launching solo businesses in many fields. But the technology’s ability to also handle key tasks in tech, like coding, make that field a particular hot spot.

Analyzing Census Bureau data, Bank of America Institute economist Taylor Bowley found that among all industries, new business applications in the information sector have seen the biggest percentage increase—nearly 45%—over the past year. At the same time, the rate of information-sector applicants saying they plan to hire workers has experienced the sharpest decline of any measured industry.

This Census dataset doesn’t track solo-operated businesses. But the numbers broadly show—in tech and beyond—that applications are flat among businesses likely to hire workers, but generally rising elsewhere. Economists say that’s a strong sign that solo operators are on the upswing.

“The bar for getting started has never been lower,” said Julian Weisser, who runs a San Francisco-based accelerator for solo founders working in tech. The accelerator—which offers founders seed money and mentorship in exchange for an equity stake—attracted 4,500 applicants for 10 slots made available in its most recent cycle, nearly five times the number it drew when it launched last May.

Going it alone with AI can still be surprisingly expensive. Broca said he was losing money on many customers’ accounts while paying to access Anthropic’s Claude to run his clients’ requests—that AI company, as well as others, charges based on usage. He has since switched to free open-source AI models from China.

Broca said he has raised $30 million from investors and, at the same time, has saved millions in salary since he hasn’t needed a team of software engineers.

Another risk: If it’s easy for one entrepreneur to launch an AI-assisted business, copying them can be easy, too. This creates anxiety for founders like Troy Johnston, who runs an AI-assisted business alone in Orlando, Fla.

“Everybody has the sword and we all have the ability to unsheathe Excalibur now,” said Johnston, 40, who used AI to code an app that helps people get the most out of credit card benefits. The company makes around $3,000 a month in profit, with no employees, and is continuing to grow.

Headshot of Troy Johnston.
Troy Johnston said AI’s power and ease of use is an incredible boon for entrepreneurs like him—and also a double-edged sword. Luann Koerper

What one-person businesses will mean for the labor market remains to be seen. Polling has shown Americans are worried that AI will replace jobs, and top economists are wrestling with that possibility, too. But AI is also creating lots of new jobs, and the go-it-alone entrepreneurs show how the technology can both open doors and limit employment opportunities.

“If everyone’s hiring less, but you get four times more firms, what does that do to head count?” said Rembrand Koning, an associate professor at Harvard Business School who studies entrepreneurship. He co-authored a recent study that found that among 50,000 startups the researchers examined, those focused on AI tended to operate with 25% fewer employees.

Koning also believes a soft hiring environment that’s left some people mired in long job searches has encouraged more to try their hand at launching businesses.

Some founders cite different motives. “It’s a perfect storm of post-pandemic burnout and a re-evaluation of one’s priorities, and also booming AI and a sense of what’s possible,” said Samir Ahmad, 39, who lives in Breinigsville, Pa.

Two years ago, Ahmad decided to leave the corporate job he had worked at Verizon for almost two decades to start a solo coaching and consulting business. He had been seeing social-media posts touting the ease and virtues of AI, which he used to chart a business plan and help with marketing. “It was like my chief of staff, a second in command,” he said.

The business ultimately petered out within months, though, and Ahmad is now back to a full-time corporate role with a utility company.

For Claire Vo, 41, AI helped her turn a passing impulse into a business. She was working full-time as a tech executive when she tapped AI in late 2023 to help code an app that would help her manage documentation and design for new products, with customers ranging from financial services to healthcare firms.

“I was copying and pasting from ChatGPT,” said Vo, who lives in San Francisco.

Claire Vo smiling into the camera while recording a podcast.
Claire Vo used AI to code an app that’s on track to make seven figures in profit this year. Claire Vo

She put the app online for $1 a month, and within weeks people downloaded it thousands of times. Nearly three years later, Vo’s company—which she ran solo for nine months before hiring an engineer—now has 100,000 users and is on track to make seven figures in profit this year. AI handles the company’s marketing, sales and customer support.

While AI is a shortcut, Vo said her network and credibility in the industry were key. “I think people over-index on how easy AI is and under-index on how much I did to get to this point,” she said.

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Brisbane’s Next Great Riverfront Address is Taking Shape

The most coveted properties are rarely defined by amenity alone. Their value lies in something far more enduring: a position that cannot be recreated.

Occupying one of the final north-facing, absolute riverfront sites in South Brisbane, The Riversdale commands an extraordinary position where the Brisbane River arcs towards the city, capturing sweeping views across water, skyline and parkland.

Positioned between the cultural sophistication of South Bank and the creative energy of West End, it sits at the centre of one of Brisbane’s most connected, walkable and desirable lifestyle precincts.

For Mosaic, one of Australia’s most awarded and trusted developer-builders, The Riversdale represents far more than another residential project. It is the culmination of a vision first pursued in 2018, when the company identified the site as one of Brisbane’s last truly irreplaceable riverfront opportunities.

Defined by a relentless commitment to design excellence, craftsmanship and enduring value, Mosaic has built a reputation for creating residences distinguished not only by their architectural quality, but by the way they are lived in and enjoyed for decades to come. The Riversdale is perhaps the purest expression of that philosophy to date.

Designed in collaboration with acclaimed architects Bureau Proberts, the landmark development draws inspiration from the movement of the river itself. Sculptural in form, its flowing curves, layered articulation and expansive glazing respond to light, outlook and connection to place, creating a distinctive architectural presence on Brisbane’s evolving waterfront.

The development comprises 213 residences and Masterpiece Sky Homes, each designed with an emphasis on generosity, permanence and livability. Natural stone, richly crafted timber finishes and meticulously detailed joinery create interiors of understated luxury, while expansive glazing and outdoor living spaces immerse residents in ever-changing river and city vistas.

Rather than following passing trends, every residence has been conceived as a timeless individual home designed to endure.

Beyond the residences, a carefully considered collection of extremely generous six-star hotel-inspired amenity elevates daily life. A concierge-serviced arrival experience, dedicated guest suites, private business facilities, wellness spaces and an exclusive resident EV fleet provide a level of convenience more commonly associated with the world’s leading luxury hotels.

Nearly 3,000 square metres of curated amenity culminates in a spectacular rooftop destination overlooking the river and city skyline. Resort-inspired leisure spaces, private dining experiences, sophisticated entertaining areas and landscaped retreats create opportunities for both celebration and relaxation.

Crowning the experience is an exclusive private club, conceived as a sophisticated social destination for residents and their guests. Beautifully appointed private dining rooms, elegant lounges, an intimate cocktail bar and a variety of entertaining spaces create the perfect setting for everything from casual gatherings to milestone celebrations.

Complemented by billiards, championship golf and Formula 1 simulators, it offers a rare blend of hospitality, recreation and connection, all framed by sweeping views across the Brisbane River and city skyline.

Yet its greatest luxury is its rarity.

The broader transformation of South Brisbane will introduce new public spaces, parklands and lifestyle amenity, further enhancing what is already Queensland’s premier cultural and lifestyle precinct. While the surrounding neighbourhood continues to evolve, The Riversdale will retain a true riverfront position that cannot be replicated.

At a time when opportunities for absolute riverfront ownership are becoming increasingly scarce, The Riversdale represents one of Brisbane’s last great waterfront acquisitions; a landmark address shaped by vision, underpinned by certainty and destined to become part of the city’s enduring legacy.

The Riversdale by Mosaic is currently under construction, with completion anticipated in late 2029.

Register to learn more at The Riversdale by Mosaic.

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Housing downturn deepens as RBA rate reversal hits buyers

Australia’s housing market has weakened more sharply than the Reserve Bank anticipated, with higher interest rates, deteriorating sentiment and changing tax settings pushing the national market into reverse.

Reserve Bank governor Michele Bullock acknowledged the extent of the slowdown in a speech to the Anika Foundation Fundraising Lunch in Sydney on July 28.

Housing conditions had “eased by more than we had anticipated in May”, she said, after the Bank expected its interest-rate increases to take some heat out of the market.

Bullock attributed the larger-than-forecast slowdown to several forces, including recent housing policy developments and a broader deterioration in market sentiment.

The latest Cotality Home Value Index illustrates the change. National dwelling values fell 0.4% in June, the largest monthly decline since December 2022, taking values 0.7% lower over the June quarter.

The combined capital-city index fell more heavily, declining 0.6% in June and 1.3% over the quarter. Regional values continued to outperform, rising 0.3% for the month and 1.1% over the three months to June.

Sydney and Melbourne lead the falls

The downturn remains concentrated in the country’s two largest housing markets.

Sydney dwelling values fell 1.2% in June and 3.2% over the quarter. By the end of the month, values were 3.7% below their January 2026 peak.

Melbourne values declined 1% in June and 2.6% over the quarter, leaving the market 4% below its March 2022 peak. Melbourne was also the only capital to record an annual decline, with values down 0.9% over the year to June.

Canberra fell 0.6% for the month and 1.3% over the quarter, taking values 2.9% below their May 2022 high. Hobart, despite rising 0.6% in June, remained 0.7% below its March 2022 peak.

Conditions were markedly different elsewhere.

Brisbane values rose 0.3% in June, Adelaide was unchanged, Perth gained 0.7% and Darwin climbed 1.4%. All four remained at record highs at the end of June.

Capital June change June-quarter change Change from peak
Sydney -1.2% -3.2% -3.7%
Melbourne -1.0% -2.6% -4.0%
Brisbane +0.3% +1.3% At peak
Adelaide 0.0% +1.3% At peak
Perth +0.7% +2.0% At peak
Hobart +0.6% +1.4% -0.7%
Darwin +1.4% +5.0% At peak
Canberra -0.6% -1.3% -2.9%

The figures reveal a divided national market rather than a uniform correction. Sydney and Melbourne are falling comparatively quickly, but strong annual gains remain intact in Brisbane, Perth, Darwin and Adelaide.

Perth values were still 23.9% higher over the year to June, while Darwin was up 19.8%, Brisbane 17.4% and Adelaide 11.6%.

Even Sydney remained 0.3% higher over the year despite its recent decline.

Bullock consequently characterised the pullback in established home prices as “modest” following a period of strong growth. She noted that Sydney and Melbourne values remained around the levels recorded before the RBA began raising rates again in February.

Buyers regain leverage

The weakness extends beyond headline prices.

Cotality estimated that capital-city sales over the three months to June were 16.2% lower than a year earlier and 14.5% below the five-year average for that time of year.

Advertised supply across the capitals was almost 11% higher than a year ago, while the combined capital-city auction clearance rate had remained below 50% since late May before falling into the low-40% range from late June.

Cotality research director Tim Lawless said the accumulation of available homes was primarily a symptom of weaker demand rather than a surge in new listings. Buyers had more properties to choose from, less urgency and greater negotiating power.

Affordability was already constraining demand before the latest interest-rate increases. Higher mortgage costs, cost-of-living pressures, pessimistic consumer sentiment and proposed federal changes affecting property investment have since added to the slowdown.

The result is likely to be a gradual decline rather than a severe national correction. Population growth, tight rental markets and limited new housing supply continue to support values, but they are increasingly being offset by weaker confidence and reduced borrowing capacity.

The RBA has erased all three of last year’s cuts

The speed of the housing slowdown becomes clearer when placed against the sharp reversal in monetary policy.

The RBA cut the cash rate three times in 2025:

  • From 4.35% to 4.10% in February
  • To 3.85% in May
  • To 3.60% in August

Those reductions delivered 75 basis points of easing as inflation appeared to be returning sustainably to the Bank’s 2–3% target range.

The direction changed abruptly in 2026 after inflation accelerated and the economy was judged to be operating with greater capacity pressure than previously thought.

The RBA increased the cash rate by 25 basis points in February, March and May, lifting it from 3.60% to 4.35%. Those three increases have exactly reversed the 75 basis points of relief delivered last year.

The Board left the rate unchanged at its June 16 meeting, meaning the cash rate has been at 4.35% since May 5.

Higher mortgage rates and tighter lending assessments have reduced the amount many households can borrow, while also increasing repayments for existing variable-rate borrowers. The effect has been particularly visible in Sydney and Melbourne, where values are high and buyers are more sensitive to changes in borrowing capacity.

Bullock said the housing slowdown had gone further than the RBA forecast in May, but borrower distress remained contained. Fewer than 1% of borrowers were in negative equity, she said, and only a small proportion of that group was estimated to be experiencing severe repayment difficulty.

The labour market has also softened more than expected, with unemployment rising further than the Bank forecast. That creates a more complicated decision for the Board: inflation remains too high, but the effects of its previous tightening are becoming clearer across employment, household confidence and housing.

Bullock nevertheless reiterated that the Board was prepared to increase the cash rate again if required to meet its mandate.

The Big Four are divided over what comes next

The major banks agree that meaningful rate relief is unlikely in the immediate future, but they differ sharply over whether the RBA has finished raising rates.

Commonwealth Bank expects the cash rate to remain at 4.35% for the rest of 2026. Its economists have pencilled in the first cut for May 2027, followed by another in August, which would reduce the rate to 3.85%.

NAB also believes the next move is likely to be down, although it has expressed less confidence about the timing. Its forecast has the cash rate ending 2027 at 3.60%, implying three quarter-point cuts over the year.

ANZ’s July base case is for the RBA to remain at 4.35% until the second half of 2027. Its economists have not ruled out another increase in November if inflationary pressure intensifies. ANZ’s previously published central forecast included two cuts during 2027, taking the rate to 3.85%.

Westpac remains the outlier. Its July outlook anticipates two further rate increases during 2026, which would lift the cash rate to 4.85%, before an easing cycle begins later. This more hawkish view reflects concern that persistent inflation and energy-related cost pressures could require the RBA to tighten policy again.

Bank Expected 2026 direction Expected easing
CBA Hold at 4.35% First cut forecast for May 2027; second in August
NAB Hold; next move expected to be down Cash rate forecast to end 2027 at 3.60%
ANZ Hold at 4.35%, with a November hike risk Base case has easing beginning in the second half of 2027
Westpac Two further hikes, potentially reaching 4.85% Easing expected only after the additional tightening cycle

These forecasts are highly conditional. Inflation, employment, household spending and the international energy outlook could all materially alter the timing.

The June-quarter Consumer Price Index, due on July 29, will be central to the RBA’s updated economic forecasts ahead of its August 11 meeting.

A softer inflation result, combined with weakening employment and housing, would support the case for an extended pause. A stronger result—particularly in underlying inflation—would keep another increase in play.

For the housing market, even an extended hold would mean borrowers receive no early relief from the 2026 increases. Cotality expects momentum to weaken further, with expensive markets, investor-heavy areas and locations carrying elevated advertised stock among those most exposed.

Australia is not yet experiencing a broad housing collapse. Prices remain at record highs in half of the capitals, negative equity is rare and national values are still 7.3% higher than a year ago.

But the direction has changed. The RBA has removed all of last year’s rate relief, buyers have regained leverage and the country’s largest housing markets are now leading a downturn that has already proved deeper than the central bank expected.

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Dubai’s Property Boom Is Splitting Into Two Markets

Dubai’s property market has become too large to describe with a single number.

On one side sits the city’s vast off-plan machine: new launches, staged payment plans and buyers committing capital years before handover. On the other is the ready market, where completed apartments and villas can be occupied, leased and valued against a visible trading history.

Both are moving. They are not necessarily moving in the same way.

Gulf Today reported on July 24 that Dubai recorded 87,800 real-estate transactions worth AED291.7 billion during the first half of 2026. Citing analysis released by developer MERED, it said off-plan property represented 71 per cent of transactions, while average property prices increased 9 per cent over the half.

Those figures present the familiar Dubai story: buyers remain prepared to enter early, developers continue to bring major projects to market and confidence in the city’s longer-term growth has not disappeared.

Yet a daily market review published the same day by Wakhan Properties provides a useful counterweight.

Using Dubai Land Department data for transactions registered on July 23, Wakhan reported AED913.72 million in total deal value. Ready property accounted for AED505.13 million, or 55.3 per cent, while off-plan sales contributed AED408.59 million, or 44.7 per cent.

One day does not overturn a half-year trend. It does, however, show why transaction count and transaction value should not be treated as interchangeable.

Off-plan apartments can generate enormous volume because the entry price is lower, payment is spread across construction and developers release inventory in concentrated campaigns. Completed homes can produce fewer transactions but greater value, particularly when larger apartments and villas change hands.

The strongest common thread is the apartment market. Wakhan said apartments generated AED740.11 million across the ready and off-plan segments on July 23, equal to 81 per cent of total value. Villas were a secondary contributor, while commercial property and hotel apartments represented relatively modest shares.

For investors, that concentration matters. A market can be liquid in aggregate while behaving very differently by location, developer, completion status and price bracket.

There is also a discrepancy worth acknowledging. Other recent analyses based on Dubai Land Department records have produced different first-half totals, depending on whether they count all real estate, residential sales only, registrations or completed transactions. Projectory, for example, reported 79,698 residential sales worth AED227.1 billion, while other market summaries have placed total sales closer to 86,000 transactions and AED286 billion.

That does not make the market story less compelling. It makes definitions more important.

The more useful conclusion is that Dubai is not choosing between off-plan and ready property. It is supporting two sizeable markets at once.

Off-plan remains the engine of transaction volume and the clearest expression of confidence in future supply. Ready property provides immediate utility, visible rental evidence and a clearer basis for comparison. In a mature market, buyers need to understand the difference before being impressed by the headline.

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Margot Robbie Reportedly Behind $28 Million Currumbin Valley Homecoming

Margot Robbie may have travelled from a Queensland farm to the highest reaches of Hollywood, but a reported $28 million property deal suggests the Gold Coast has never lost its hold on her.

The Australian actor and producer is believed to be the mystery buyer of Redwood, a seven-acre Currumbin Valley estate transformed into the architectural residence known as The Copper Arbour.

The off-market transaction reportedly settled in June 2025. Property records cited in recent media coverage identify the buyer as Pippyyork Pty Ltd, a company established only weeks before the sale. A Gold Coast accountant is listed as its sole director and shareholder, reportedly holding the company’s single share for an undisclosed party understood to be Robbie.

Neither Robbie nor her representatives have confirmed the purchase, so her ownership remains reported rather than established. Nevertheless, the location and secrecy surrounding the transaction have given the story the character of a remarkable homecoming.

Back to Currumbin Valley

Robbie spent part of her childhood on her grandparents’ farm in Currumbin Valley and has spoken affectionately about an upbringing shaped by paddocks, trees and the freedom of the Gold Coast hinterland.

In a Vogue Australia conversation with her mother, Sarie Kessler, she recalled doing homework in a tree and being called inside for dinner from beyond the paddock.

The reported purchase would return her to that landscape in considerable style.

The estate occupies approximately 2.9 hectares on the banks of Currumbin Creek. Despite its privacy and rural atmosphere, an earlier sales campaign placed it about seven minutes from Currumbin Beach and 10 minutes from Gold Coast Airport.

Its combination of acreage, creek frontage and coastal accessibility has always been central to its appeal. Mature trees line the long driveway, while paddocks, rainforest and established landscaping shelter the residence from the road and surrounding properties.

For an internationally recognised actor, producer and entrepreneur, the estate offers seclusion without isolation: a private hinterland base within easy reach of the beach, airport and southern Gold Coast.

Redwood before its transformation

The Redwood listing supplied for the property describes the estate as it existed before the current residence was built.

At that time, the two-storey house contained five bedrooms, three bathrooms, two powder rooms, several living areas, a wet bar, sauna, home office, study and three-car garage. Its defining interior feature was a stone fireplace extending through both levels, complemented by polished hardwood floors, leadlight windows, French doors and a kitchen with stone benchtops.

The grounds already possessed many of the qualities that distinguish the estate today. They included fenced paddocks, Currumbin Creek frontage, horse shelters, stables, a chicken coop, extensive sheds and storage, powered pavilions, a gymnasium and a lagoon-style pool and spa.

After changing hands for a reported $2.55 million in 2017, however, the property underwent a comprehensive redevelopment. The former house was superseded by a new, predominantly single-level residence completed in 2024.

Current reports describe the resulting estate as having six bedrooms, six bathrooms and garaging for as many as 10 vehicles, along with a pool, full-size tennis court and equestrian facilities.

Country living reimagined in copper

Designed by Paul Uhlmann Architects, The Copper Arbour is a contemporary response to its rural Currumbin Creek setting.

The approach begins along a driveway framed by mature trees. At its end, the landscape opens to reveal an expansive house wrapped in a sculptural copper skin, with the creek and gently descending land to the south and paddocks, rainforest and hills to the north.

Rather than impose a sharply contemporary object on the countryside, architect Paul Uhlmann chose materials intended to settle into it. Copper gives the house its defining identity, but it was also selected for the way it changes over time. As its surface develops a patina, the building is designed to become more closely integrated with the colours and textures of the land.

The copper roof is articulated along the length of the building, folding down in places to form wall elements that touch the ground. These changes in height and direction help reduce the apparent scale of the residence while creating the protective arbour from which it takes its name.

Spotted gum, limestone and travertine extend the warm, tactile character of the exterior into the house. Blackbutt floors, timber ceilings, band-sawn wall cladding and bespoke cabinetry give the interiors a richness suited to the rural environment without resorting to a conventional country-house aesthetic.

A home shaped around the landscape

Viewed from above, The Copper Arbour follows a Y-shaped plan.

The longest section contains the principal living spaces, which look towards both the paddocks and Currumbin Creek. At the point where the plan divides, one branch forms the parents’ wing, incorporating the main suite, study, gym and garaging with a southern outlook towards the creek. The other contains the children’s accommodation, oriented towards the pool and tennis court.

This arrangement gives the large residence a clear internal structure while allowing different parts of the family to enjoy privacy. It also enables the main living areas to operate as a central spine opening towards the surrounding landscape.

Arrival is through a forecourt and lobby, where a carefully positioned picture window frames the view beyond. From there, the public areas connect with an outdoor sitting space and planted courtyard.

A mature ornamental cherry blossom tree occupies the centre of that courtyard beside an outdoor fireplace, bringing vegetation into the building and softening the threshold between indoors and out.

The principal external entertaining area occupies a break in the building’s form. It incorporates heated stone seating, concealed screens, a cantilevered fireplace and projection facilities. An outdoor bar links the courtyard back to the living room, creating a circuit of connected spaces for entertaining.

Travertine used in the kitchen continues outside around the pool, strengthening the visual relationship between the interior and landscape. Views from the main living spaces extend in several directions, allowing the paddocks, creek, pool and hills to become part of the experience of the house.

Monumental scale, domestic character

The Copper Arbour was designed to accommodate family life, sporting equipment and large social gatherings without making its everyday spaces feel overwhelming.

That balance is central to the project. Its size, extensive garaging and recreation facilities give it the scale of a major luxury estate, yet the plan is broken into distinct wings, courtyards and gathering places intended to remain comfortable when occupied by only a small family.

The design creates deliberate contrasts: copper against greenery, limestone beside timber, large entertaining areas alongside intimate family rooms, and monumental roof forms enclosing sheltered courtyards.

Those qualities distinguish the present house from the former Redwood residence. While the old listing is useful for understanding the land and its established equestrian and lifestyle infrastructure, The Copper Arbour is not simply a renovated version of that home. It is a substantially new architectural work shaped around the same creek, paddocks and mature landscape.

Gold Coast House of the Year

The project’s design and construction have already received significant industry recognition.

In August 2025, Blenkins Build won the Master Builders Queensland Gold Coast House of the Year award for The Copper Arbour. The company also received the regional award for an individual home valued at more than $10 million.

Judges praised the execution of the hand-rolled copper roof, custom hardwood flooring and other detailed elements. They also recognised the residence’s provision for multigenerational living, health, fitness and entertaining.

The awards give important context to the reported $28 million price. This was not merely a sale of seven acres in a desirable hinterland enclave, but the acquisition of a newly completed and highly customised architectural estate.

The figure represents a dramatic increase from the property’s reported $2.55 million sale in 2017, although that comparison does not account for the scale and cost of the subsequent redevelopment. At $28 million, the latest transaction stands as an exceptional Currumbin Valley result and one of the Gold Coast hinterland’s landmark residential deals.

A personal kind of trophy home

If Robbie is confirmed as the buyer, The Copper Arbour will inevitably be described as a celebrity trophy home. Its price, architectural pedigree, acreage and discreet corporate purchase invite that interpretation.

Its location, however, gives the deal a more personal dimension.

Robbie’s career has taken her from Australian television to major international films and an influential role behind the camera through LuckyChap Entertainment. Currumbin Valley belongs to an earlier part of her story: one associated with family, farm life and the landscape she knew before becoming internationally famous.

The Copper Arbour brings those worlds together. Its award-winning architecture and resort-scale facilities reflect the demands of an international career, while its paddocks, creek frontage, mature trees and changing copper surfaces root it firmly in the Gold Coast hinterland.

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FINAL RELEASE AT OPHORA TALLAWONG OFFERS QUALITY APARTMENTS UNDER $700K WITH RARE BUYER PROTECTIONS 

Ophora Tallawong has launched its final release of apartments, positioning itself as one of the last opportunities for buyers to secure a new Sydney home below $700,000. 

The project, located in one of the city’s fastest-growing corridors, is offering rare buyer protections at a time when affordability is tightening and competition for quality stock is intensifying. 

According to JLL’s Q2 2025 Apartment Market Overview, Sydney’s median apartment price has already climbed to $795,000, setting a record.  

With interest rates now on a downward trend and supply still heavily constrained, experts warn that today’s price brackets may not exist next year. 

Ronnie Rahme, Development Manager at KDMC, said buyers were responding to the combination of quality and value. 

 “You simply don’t see this level of finish at these price points anymore,” Rahme said. “That’s why demand has been so strong for this final release.” 

Dr Andrew Wilson, Chief Economist at My Housing Market, says the economic drivers are clear.  “High rents and higher prices continue to provide clear incentives for first-home buyers and investors chasing solid investment returns,” he told Kanebridge News. 

 “New government initiatives to support first-home buyers will also act to place upward pressure on prices.” 

The bigger picture 

JLL’s research reinforces that point. While over 15,700 apartments are expected to be delivered nationally this year, a 40% uplift on 2024, Sydney remains undersupplied, with demand continuing to outpace completions. 

The report also notes that reductions in the RBA cash rate are expected to further fuel buyer activity, with constrained supply continuing to push prices higher into 2026. 

With construction costs soaring, Government contributions climbing, and interest rates remaining high, projects are harder than ever to bring to market, putting upward pressure on newly completed apartments. 

The pipeline of new supply is shrinking as developers delay or abandon projects that no longer stack up financially. 

According to JLL’s overview, only 2,554 completions are forecast for Sydney this year – against annual demand exceeding 30,000 dwellings. 

At the same time, population growth, rental demand, and first-home buyer incentives are intensifying competition for limited stock. The imbalance between constrained supply and resilient demand is leaving new apartments scarcer and more expensive across Sydney. 

Ophora: Last Chance In Sydney’s northwest 

Developed by KDMC and designed by Architex, the $50 million project has launched its final release, with limited availability of 81 brand-new residences from just $545,000 for a one-bedroom, or $695,000 for a two-bedroom, which is far below Sydney’s median and significantly cheaper than nearby competition. 

The five-storey development at 37 Reis St, Tallawong, combines affordability with premium inclusions more often seen in luxury builds: ducted air-conditioning, timber floors, premium finishes, fridge cavities with water plumbing, video intercom systems, fibre internet, EV charging, landscaped gardens and a rooftop terrace with sweeping views. 

It also comes with something almost unheard of at this price point, a 10-year Latent Defects Insurance (LDI) policy. Typically reserved for multimillion-dollar projects, LDI guarantees structural integrity for a decade and is only awarded to developers with a strong building track record. 

SHC Insurance Brokers founder Stefan Hicks acknowledged the rarity of obtaining LDI, particularly for entry-level residential apartment complexes like Ophora.

“Gaining LDI is no mean feat. It’s offered selectively to developers and builders with a quality building history, and it requires both parties to employ an independent inspection service throughout construction,” he said. 

“While this insurance is well-established around the world in about 40 countries, in Australia, we’re typically seeing high-end buildings covet LDI. The fact that Ophora has joined this exclusive list of quality-assured builds is a coup for entry-level home buyers.” 

Raising the standard for affordable luxury 

Rahme says the KDMC team wanted to set a new benchmark.

 “Our mission with Ophora has always been clear: to raise the standard of what buyers should expect, regardless of budget,” he said. 

“We’ve delivered a collection of apartments with finishes and features you’d usually only find in luxury projects, and we’ve backed it with one of the most stringent insurances available in the market. That gives buyers peace of mind that their investment is protected for the long term. 

“People are walking through and realising you simply don’t see this level of quality at these price points anymore, as it’s effectively replacement cost in 2025. 

“With rates coming down and limited competition, buyers and investors are moving quickly because they know the window won’t stay open. Investors, who have recently purchased at Ophora, have reported a strong rental demand, with minimum rental yields exceeding five per cent.” 

Developments like Ophora, move-in ready, competitively priced and backed by rare structural protections (LDI), may represent the last chance for buyers to secure a sub-$700,000 apartment in Sydney. 

View Ophora on cpmrealty.com.au

To arrange a private viewing or request more information, contact Sam Elbanna from CPM Realty: 0411 222 260