02 October 2026

In this Edition...

1. Interest rate rises:  We need a bigger bottle

2. It's not the assessment time, but approvals, feasibility, and supply that matter

3. Hong Kong pips Sydney as the most unaffordable housing market in the world ... or does it?  

... and much, much more.

4. Woollahra Council could teach Machiavelli (and the Leichhardt rats)
a thing or two
5. Parramatta Council's Changing of the Guard
6. MBA forecasts disastrous under-supply of new housing
7. Quote of the week - Chris Minns
8. Council Square application doesn't pass the pub test
9. ABS housing approvals starting to reflect mounting challenges
10. Bureau Veritas Spring Gala
11. Temporary reshuffling at Housing Australia
12. A few too many steps see Mosman LMR project rejected by the Court
13. HDA-supported EOIs are now turning into new residential developments
14. DEA:  Ascent on Bourke Highly Commended in the Industrial category
15. Council Watch
          McPlanning
          Factory trumps housing
16. Members in the news

1. Interest rate rises:  We need a bigger bottle

Image has been digitally altered with the assistance of AI

In a decision that came as no surprise to the market (or anyone) the RBA Board raised the official cash rate by 0.25 percentage points. The new rate of 4.60%, which has been directly passed onto mortgage holders and new loan applicants by the major banks, comes as the RBA Board “expressed concerns” about the state of the economy and the difficulties in reining in inflation. 

The announcement by the RBA marks a 15-year high for interest rates and puts Australia’s rate as second in the Western World, only below Iceland. 

This is the fourth interest rate rise this year, in an effort to put the inflation genie back into the bottle, but government overspending, lack of housing supply, and yes … the war in the Gulf, have all taken their toll.  Even the NSW Premier offered a blunt, honest, and fair assessment of the impact of government overspending and the lack of (Commonwealth) fiscal restraint.

The ABS this week released the Consumer Price Index (CPI) data for August, which showed that inflation had risen to 4% year on year, up from 3.5 per cent in July, on the back of surging petrol and building material costs. 

Trimmed mean (or underlying) inflation, which excludes volatile items, remained steady at 3.6 per cent for the third consecutive month – but still well above the target range.  These results were slightly below market expectations of 4.1%, but not enough to stay the hand of the RBA. 

And the August CPI results, which came out after the RBA had made its decision, don’t bode well for a pause in interest rates rises, let alone a decline, any time in the near future. 

Worryingly, the CPI results showed a rise in the cost of building of 5.4% for the 12 months to August, as builders passed on higher costs for materials and labour to consumers. 

Restraining inflation is the main game.  As the Governor of the RBA, Michele Bullock, recently said to a House of Representatives Economics committee in relation to inflation: 

Federal Treasurer Jim Chalmers has been sounding a bit like a panicked deck hand on the titanic with a leaking bucket who has just realised that the small plug he pulled out of the wall was powering the iceberg detectors.

He’s tried to defend the Albanese Government’s economic record.  He's been blaming higher prices on the Gulf War, AI investment, and a black cat he saw walking under a ladder. 

But the RBA Governor laid the blame a little closer to home. 

According to the ABC, she said that inflation had been “driven by domestic capacity pressures” and that the oil prices were “in addition to this”: 

Governor Bullock said that domestic matters such as declining productivity levels and excess demand (read government spending) were key contributing factors: 

Possible Jim Chalmers excuses/responses for rising inflation – a checklist: 

• It’s ScoMo’s fault (fair point – but too late Jim)
• Don't shoot the messenger
• Everything was fine until things changed 
• The RBA doesn’t listen
• RBA analysts don’t know what they’re talking about/doing
• Hindsight is 20/20
• The Gulf War’s to blame
• The War in Ukraine is to blame
• AI investment’s to blame (but it will fix our flat-lining productivity)
• Interest rate hikes show that we are supporting the bond market. 
• The RBA is responsible for interest rate decisions
• Did you hear about our extra $6 billion in revenue? 
• The buck stops with … [anyone else]. 
• Damn that black cat, the cracked mirror and that bloody ladder!  
• Thank goodness the next RBA meeting is on Melbourne Cup Day
• Everybody’s lifting interest rates (just – look at Iceland)!
• “Government spending doesn’t increase inflation.” 
                 “Yes it does.” 
                             “Sorry, I meant OUR government spending doesn’t
                                  increase inflation.”

2. It's not the assessment time, but approvals, feasibility, and supply that matter

The Minns Government has announced its latest local infrastructure funding boost for councils that have improved their assessment times. 

$73 million has been awarded to 44 councils, supporting roads, parks and open spaces, and community facilities under the Faster Assessments Incentive Program. 

In principle, that’s a positive move. 

Generally, Urban Taskforce supports faster assessment times.  After all, as the NSW Productivity Commission pointed out in 2019, NSW had the slowest assessment times for every single category of development application type on mainland Australia (Tasmania had a couple of categories that were worse).

But there’s a hidden cost to this program that is not obvious from the media releases and councils boasting about their "improved performance". 

Speeding up assessment times is not resulting in more approvals. 

Newcastle Council, which has reported cutting its assessment timeframes by two weeks, is a case in point. 

In the 25 months to July, 2026, since the start of the National Housing Accord, the Council has approved a mere 44.5% of its pro-rata new dwellings completion target – just 1,894 out of the 4,255 new dwellings that should have been delivered to that point. 

Similarly, Strathfield Council boasted in recent correspondence that it had an average development assessment time for June, 2026, of 85 days.  Yet it has approved just 314 dwellings during the Accord period. 

So, councils are achieving their processing time targets faster, but it appears that this is at the expense of actually approving projects. 

We are getting close to the mandated timeframes for assessment so "let’s just say no" is, ironically, what this funding incentive has generated.  Urban Taskforce can report that conversations with council staff run exactly along these lines.

Urban Taskforce supports the use of incentives to encourage better planning and assessment performance and welcomes funding for local infrastructure that comes from sources other than the development community.  But the metrics need to be revisited if these statistics are to make any sense. 

All incentives must focus on new housing supply.  That is what the Housing Accord targets measure.

The DPHI planning portal must report on occupation certificates (completed dwellings) issued each month and in each LGA.  Amazingly, it does not.  The NSW Department of Planning does not measure or publish the one metric that the Housing Accord is founded on, even four years after the Housing Accord
Mk 1 was signed on 25 October 2022.

The faster approvals incentive scheme is effectively designed to promote failure, where councils are rewarded with local infrastructure funding when they had rejected the DA for new homes that such infrastructure would be supporting, just because they met their timeframes!

3. Hong Kong pips Sydney as the most unaffordable housing market in the world ... or does it?  

It used a median price-to-income ratio to determine affordability (with the median multiple of the median house price divided by median household income). 

The result?  Not a lot of change.  In both senses of the word. 

Hong Kong (see below) took out least affordable housing, a position it has held since 2021, with a median household income multiple of 14.1.  

Sydney is hot on its heels, with a median multiple of 14.0, taking out second spot.  It has been unmoved since 2022.

Rounding out the top five were San Jose (11.3), Adelaide (11.2), and Vancouver (10.8). 

There is a disturbing trend, however. 

Hong Kong’s median household income multiple has been falling year on year since 2022, whereas Sydney’s score has been increasing since 2023.  At this rate, the Emerald City is set to overtake Hong Kong in next year’s rankings. 

We also think that the calculations may be hiding an important detail. 

The median annual income of a Hong Kong household is much lower than the average for Greater Sydney households, which means that a similar multiple of the much higher number represents a significantly higher housing price cost for Sydney. 

The Demographia tally is useful to get an idea of the purchasing power of people within a particular market, but Greater Sydney should not be patting itself on the back about coming in second… 

Regardless of which city is actually the most unaffordable, the report warns that policies restricting urban expansion – such as urban growth boundaries, greenbelts and densification mandates – tend to increase land prices and reduce housing affordability.

Hopefully the new Sydney Plan will unlock those doors and help to reduce the price of housing in this city. 

Please note: Articles may be behind a paywall

4. Woollahra Council could teach Machiavelli (and the Leichhardt rats) a thing or two

Image has been digitally altered with the assistance of AI

Recent political machinations at Woollahra Council show that sometimes the hardest fights are in the smaller forums. 

In the leadup to the Mayoral ballot on Monday, Urban Taskforce psephologists* were watching closely, as rumours of a possible spill in Woollahra – which would have totally upended Mayor Sarah Dixson’s growing dynastic hold on the Golden Nimby annual award – circulated. 

While not quite the Paris spring student riots of 1968, the revolution in Woollahra never came. 

Those dedicated few who jumped online for the livestream saw Mayor Dixson elected unopposed, but not unanimously, with Councillor Hugh Woodgate elected as Deputy. 

Deputy Mayor Sean Carmichael, who was tipped to make a play for the top job, had been nobbled by the very person who “seconded” his candidature for the Mayoral role. Apparently, with the vote tied at 4-4 in the Liberal Party caucus room, he suddenly swapped sides.

Erstwhile Deputy Mayor Carmichael did not attend the subsequent Council meeting.  

After accepting congratulations for her re-election from the General Manager, Mayor Dixson expressed appreciation for the councillors’ ongoing support for the: 

“much bigger fight that we have going on in the community, where we are all working together around this table to protect our homes and our community and the place that we love.” 

He drew from his own family history – commenting about his great-great-uncle who called upon the then Premier 87 years ago to continue the eastern suburbs line – to urge the latest Premier “to go full steam ahead and complete the eastern suburbs railway”. 

Cr Carmichael is now reviewing his party affiliation, while Mayor Dixson is continuing the fight against new residents, while keeping a firm hand on the 2026 Golden Nimby award. 

*Psephologist – a person who studies politics and elections

5. Parramatta Council's Changing of the Guard

In the all-but-forgotten ICAC-ravaged City of Parramatta Council (remember Gail Connelley and the “pink ladies”?) there was a different result, a changing of the guard in Sydney’s second city!

Lord Mayor Martin Zaiter lost the chains after the defection of one of his Liberal Party colleagues, Cr Tanya Raffoul, who resigned over concerns about One Nation. 

She threw her weight instead behind the 28-year-old Labor councillor, Cameron Maclean, who (rather unsurprisingly) praised her for her defection, saying that she had “demonstrated immense integrity and courage under fire”. 

An independent councillor, Kellie Darley, who identifies as a whistleblower about council staff, was elected as Deputy. 

6. MBA forecasts disastrous under-supply of new housing

All this, on top of the more substantial backdrop of four interest rate rises this year, the shortages of labour, supply side challenges associated with the war in the Gulf, the dismal state of construction industry productivity, resulting in a supply side collapse in confidence. 

Far from achieving the 240,000 per annum National Housing Accord Target, the MBA forecasts a drop off in commenced dwelling construction from 201K in FY 2025/26 to only 190K this FY then dropping to only 182K pa in the years beyond. 

The news for NSW is no better. 

MBA forecasts a drop off in new commencements in housing stock from 53K in the 2025/26 FY to only 48K in the current FY then a further drop to only 47K pa thereafter – all well below the 76K pa completed dwellings needed to achieve the Housing Accord targets. 

And if you remove data centres from the non-residential forecasts, the modest decline in investment value would be replaced with a deep and sharp dive in the numbers. 

The MBA has backed in calls from the Urban Taskforce for root and branch reform to the NCC. 

In the context of NSW, Premier Minns has been at pains to highlight the need for fiscal restraint – a key ingredient for any future reduction in interest rates. That is economic leadership from the NSW Premier that sums up the problem with the Federal Government. 

The focus on planning reforms, the passage of reform legislation and the establishment of new state led planning pathways for assessment and determination of large projects has all been good – and this may prove the MBA’s dire forecasts to have been erring towards the “chicken little” approach to government policy.  Only time will tell.  One thing is clear, all the commentators, including those from the RBA, are pointing to the inflationary impact of government spending. 

While the Productivity Commission is doing some good work to identify options for improving the productivity of the construction sector, they are not tackling the elephant in the room – the CFMEU and the rorts contained in their EBAs.  While uncomfortable for any left-wing Labor leader, Anthony Albaese needs to actively address this scar on his period as leader, lest he be remembered only for his more recent indiscretions. 

7. Quote of the week - Chris Minns

In a clear distancing of his government from Anthony Albanese and the ever growing community concerns about rising inflation and interest rates, NSW Premier Chris Minns has “heard the advice from the RBA over the last two years that we need to be careful with public funds”.

Doesn’t fit on a campaign poster, but it has cut through… 

8. Council Square application doesn't pass the pub test

Image has been digitally altered with the assistance of AI

The City of Sydney’s proposal to demolish seven buildings and create the world’s biggest e-bike parking zone and ibis sanctuary has been referred by Planning Minister Paul Scully to the Independent Planning Commission (IPC) for review. 

The IPC heard from the Council at a hearing last week that the City should be left to make the decision on the proposed redevelopment because it has made decisions on state significant development applications in the past: 

“… we agree that the project is significant, but as we’ve set out in our letter, we are used to, and capable of, assessing significant projects.”

There seems to be no apparent recognition that assessing its own application represents an unacceptable conflict of interest or that this is a decision that goes beyond the Council and its own interests. 

Addressing the Commissioner, the City’s representatives called for the assessment:

• not to delay the project
• to recognise the planning and design work it has already undertaken
• to minimise any requirement for rework or additional work
• to limit additional assessment to what is “reasonable and proportionate to the nature and merits of the proposal”. 

All fair requests, but ones which are rarely granted to most developers in the City. 

Put simply, Council wants to have its cake and eat it too. 

It wants to steamroll this ill-conceived vanity project through in record time, bypassing the sort of scrutiny to which other projects in the LGA would be subjected. 

At the same time, we’re witnessing the “incredible shrinking budget”. 

When the Lord Mayor announced that the project was going ahead, she said that the budget for the project would be $150 million.  However, Council staff had previously said it could be as much as $300 million. 

Magically, the Council’s representatives have now said that they can deliver the new square for the bargain basement price of $94 million. 

Either someone has managed to find incredible efficiencies in public service project management or, more likely, Council is simply making this up. 

The project is more likely to cost over $300 million and that money would be better spent supporting affordable housing and reducing council levies to make housing supply more feasible.

The IPC did not appear to press the point on this.  Nor has it sought perspectives from anyone other than the Department of Planning, Heritage, and Infrastructure. 

In fact, it seems to be highly accommodating of the Council’s wishes: 

“Council is the Applicant as well as the Council, so we don’t need to meet with anyone else on this.” 

The IPC has always struggled  with how to judge public mood.  This time it’s clear.  Business has joined with unions and media to condemn this project.  The IPC needs to listen.

It just doesn’t pass the pub test.  This project should be stopped.

9. ABS housing approvals starting to reflect mounting challenges

This week’s ABS approvals data is starting to show the impacts of a downturn in market conditions, posting a poorer result for August than for the previous two months. 

2026 has been a shocker for the housing supply sector. 

We have had four interest rate rises and an extended war in the Gulf.  We had an awful Federal Budget which shattered investor confidence.  Productivity rates are catastrophic and the Commonwealth has all but run out of others to blame. 

Nationally, the statistics show a significant month-on-month (July 2026 to August 2026) drop in new dwelling approvals of 6.1%.  Queensland (-22.5%) had the biggest decline followed up by NSW (-17.3%). 

On a year-on-year basis, the new dwelling approval results saw improvement on the basis of the high growth period prior to the first interest rate increase in February this year. 

Nationally, in the 12 months up to the end of August 2026, there were 208,181 new dwelling approvals.  This was an increase over the prior year of 9.1% when there were only 190,753 approvals. 

In NSW, the 12 months till the end of August 2026 saw 53,525 dwellings approvals, also up 7.2% on the previous 12 months. 

NSW has seen a decline in approvals in each of the last two months and the full impact of the interest rate rises and the war in the Gulf has yet to flow through to the data.  On the other hand, the HDA has created a significant boost in the pipeline of applications under assessment, and this should see a boost in the approval numbers to come, but it looks like coming too late for the Housing Accord.  Time will tell. 

The fact is, both across Australia and in NSW, we are still well below where we need to be. 

Even if the number of approvals is double that achieved in August 2026, and that extraordinary rate were to be maintained each and every month from now till mid 2028 (assuming a minimum construction period of 12 months, and much longer for high rise developments) it is unlikely the Accord targets will be met. 

The big question now is how close can we get and what more can be done?

The Minns Government has endeavoured to improve conditions to support new housing supply through the Housing Delivery Authority and the Low and Mid-rise housing pathways.  They have also passed significant reforms through the NSW Parliament (with bi-partisan support), but still, they face strong resistance from NIMBY Councils. 

The blatant posturing by Woollahra Council against the State led rezonings based on the completion of a new heavy rail station at Woollahra cannot be tolerated.  Similarly, the take-no-prisoners, anti-housing campaign from Mosman Council against the State’s Low and Mid-Rise Housing reforms require a strong and consistent hand from Minister Scully and Secretary of DPHI, Kiersten Fishburn, lest momentum in this space be lost. 

These results should be seen as a shot across the bow – the monthly results are bad, but the annual numbers are positive.  Australian governments have an opportunity to turn fortunes around in the pursuit of their National Housing Accord goals. 

In NSW we’ve got a long way to go.  On a per head of population basis, we’re still running well behind most of the rest of the country, with a mere 6.2 approvals per 1,000 people.  WA is approving 8.7 dwellings per 1,000. 

And with a significant drop-off between approval and completion, that means that we need to be aiming for many more approvals than we currently get just to achieve the required completions targets. 

10. Bureau Veritas Spring Gala

11. Temporary reshuffling at Housing Australia

Following the critical review of the agency by Ken Kanofski, which warned that the HA Board  was putting affordable and social housing delivery at risk, and the announcement this week that CEO Scott Langford was stepping back for extended leave for personal reasons, the new Chair has brought in some outside blood to keep things moving.  

Queensland’s Deputy Director-General of social and affordable housing growth, Sarah Amos, will be moving into the hot seat as Acting CEO from 12 October this year, and holding fort until Mr Langford returns in 2027. 

Ms Amos has been managing the delivery of the Queensland Government’s 53,500 social and community home targets and managing the state social housing portfolio. 

The additional pair of hands will no doubt be helpful with the 20 projects per month requiring approval from October to January, particularly given the reductions in staff at the agency earlier this year. 

Urban Taskforce and our members extend our very best wishes to Scott Langford and look forward to his return.

There has been no announcement of how, if, or when the agency will implement Mr Kanofki’s recommendations, but no doubt this will be on the list of things for the Acting CEO to address. 

Please note: Articles may be behind a paywall

12. A few too many steps see Mosman LMR project rejected by the Court

A disagreement over the wording of the LMR provisions of the Housing SEPP over walking pathways has led to a loss in the Land and Environment Court for a Mosman developer. 

The debate was over whether the project in Awaba Street was within the Low and Mid-rise Housing Policy boundaries.  As the crow flies, it is.  According to the safe walking pathway submitted by the applicant, it is.

The developer provided evidence that the site was 383 metres on foot from Spit Junction and that 250 people were safely using the very pathway their consultant had recommended across Ourimbah Road every day. 

Right from the very start, the Council said “no”.  This was a test case for the LMR and Council was simply not going to yield.

Council argued that there was a safer option, but that involved a 423-metre walking distance from Spit Junction. 

Or, to put it another way, each of the 23 metres over the 400-metre threshold was effectively worth $1.9 million. 

The problem arises from the ambiguous nature of the wording of the SEPP.  This can be fixed with an amendment which can be made by the Minister at any time.

13. HDA-supported EOIs are now turning into new residential developments

Image has been digitally altered with the assistance of AI

The latest meeting of the HDA on 15 September, 2026, considered 45 expression of interest (EOI) applications. 

In the first meeting with Acting Secretary Michael Coutts-Trotter’s participation, the HDA recommended to the Minister for Planning and Public Spaces that:

• 15 EOI applications be declared SSD
• 27 EOI applications are not recommended to be called in as SSD; and
• 2 EOI applications be deferred. 

One EOI application was withdrawn by the applicant prior to the briefing. 

This was a slightly better outcome than in August when only 36 EOI applications were considered and a mere 10 were declared SSD, but it still represents a fairly low EOI success rate. 

Of the 15 EOI applications declared SSD, 14 are in metropolitan Sydney and one is in regional NSW. 

In total, if all these EOIs covert into SSDA applications for assessment and are approved, the proposed developments could create as many as 4,346 new market and affordable housing dwellings across the State. 

However, 32 previously declared proposals were also revoked in the latest round, removing SSD status. 

This brings the total number of SSD proposals to 499, with a potential to deliver 154,000 new homes. 

24 of these proposals have now received development consent, with 4,400 homes now in the pipeline. 11 of these approvals have started construction. 

14. DEA:  Ascent on Bourke Highly Commended in the Industrial category

Charter Hall’s Ascent on Bourke was a Highly Commended Industrial Development at the Urban Taskforce’s Development Excellence Awards. 

The innovative, state-of-the-art warehouse and logistics facility is based in the Sydney suburb of Alexandria, located about 5 kilometres south of the CBD. 

The development sets new benchmarks for industrial workplace design by combining large-scale efficiency with premium, wellbeing-led amenities, including:  

• a substantial rooftop terrace with sweeping city views;
• open landscaped spaces; and
• connectivity to infrastructure and public transport networks. 

Ascent on Bourke prioritises sustainability and is targeting a 5-Star Green Star certification.  It features a 300kW solar system and a smart rainwater irrigation system, while composite metal decking and high-grade structural steel reduce material usage and deliver a striking design.

A key component of the development was to ensure adaptability and flexibility throughout the development’s lifecycle.  Ascent provides the latest in industrial warehouse design, allowing for seamless integration with robotics and AI-driven warehouse management so that tenants can adapt, scale, and futureproof facilities. 

Charter Hall is congratulated for the recognition of its development. 

Our thanks to our sponsors

15. Council Watch

McPlanning

McDonald’s was last in Newtown in 1998, and the multinational fast-food business has made a few attempts to return since then. 

So, it came as a surprise to some observers that a week ago the company quietly abandoned its court case against the City’s latest refusal.  (Article may be behind a paywall)

The reason?  It had fast-tracked a CDC application on a site in Enmore Road – 500m from its previous site. 

Factory trumps housing

Plans for a $156 million, 483-apartment build-to-rent project in Harris Park have been scaled back in the face of complaints about the project’s size and location.  (Article may be behind a paywall). 

The development, which is 500m from Parramatta train station and 300 m from the Macquarie Street light rail station, is also next to Our Lady of Lebanon Cathedral and the heritage listed Hambledon Cottage and situated between Experiment Farm and Elizabeth Farm. 

And this has drawn the ire of heritage groups and the City of Parramatta Council, who have argued that it would overshadow and dwarf “three of the most significant historic houses in Australia”. 

Bear in mind, the site is currently a disused pharmaceutical factory. 

The project has now been slashed to 320 dwellings, half of which will be much-needed affordable rental housing for 15 years and the other half offered for long-term renters. 

Now the Independent Planning Commission will consider the application – first lodged in 2022 – and decide what is reasonable.

With a new Labor Mayor at Parramatta, perhaps there is hope that he will follow the Premier’s lead and get behind housing supply.

16. Members in the news

*Please note these articles may be paywall protected

“The centre will also mark the first major development within Ingham Property Group’s broader 182-hectare industrial estate and is one of the first major logistics projects associated with the Western Sydney Aerotropolis, expecting to add over 3,000 construction jobs and more than 500 ongoing operational roles once it is running.”  read more …

Aldi’s new $1 billion distribution centre in Bradfield is under construction, delivering a 24-hour facility close to the new airport to replace its existing distribution centres. 

Realcommercial.com.au/Daily Telegraph, 1 October, 2026
 

“Harry Triguboff reflects on 60-year Meriton career as billionaire tackles housing crisis at 93”  read more …

An opinion piece by one of the icons of the development industry about how the sector has changed during his time in business and what he has learned. 

The Australian, 29 September, 2026
 

“The Woolworths development arm’s state significant development will comprise 161 units—down 10 from the proposed 171 dwellings—and just over 5 per cent (11 units) affordable housing.”  read more …

The $175 million development will deliver nine and 13-storey shop-top apartment buildings and 3,698 sqm of retail space less than 1km from the Gladesville town centre. 

The Urban Developer, 29 September, 2026
 

“Traders in Purple director Charles Daoud agrees.  ‘Residential development is really difficult ...  and when you add social and affordable housing, it introduces significant additional complexity.’”  read more …

Queensland is facing an affordability crisis as prices escalate, leaving a 53,500-dwelling gap in the supply of social and community homes up to 2044. 

The Urban Developer, 29 September, 2026
 

“Dexus has resurrected talks to buy the $2 billion business, whose shareholders – including Hostplus, Rest Super, Equip Super and NGS Super – have had Goldman Sachs trying to find a buyer for nearly three years, according to people briefed on the matter but not authorised to speak publicly.”  read more …

The student accommodation business has properties at eight institutions in the US, four in Britain, and sites in Sydney, Melbourne, Gold Coast, Perth, and Darwin. 

AFR, 27 September, 2026
 

“Redcape Hotel Group, a fund managed by ASX-listed MA Financial, has sold The Hermit Park Hotel and The Sun Hotel in Townsville for a combined $37.5 million and plans to use the proceeds of its exit from the North Queensland city to upgrade other pubs in its portfolio.”  read more …

The hotel group is focusing on its existing assets, with development applications for some sites already lodged. 

AFR, 27 September, 2026
 

“The Urban Property Group has lodged plans with the state’s planning portal to construct a 48-storey shop-top residential tower at 614-632 High St, Penrith, opposite the Penrith Council chambers.”  read more …

The project’s plans include 341 apartments and 68 affordable units, together with retail and carparking, in a 48-storey complex that will become the tallest building in the area, dwarfing the 14-storey Nepean Hospital. 

Daily Telegraph/Penrith Press, 25 September, 2026
 

“MA Financial has snapped up a half share in a south-east Melbourne shopping centre from Perth-based group Perron for $327.5 million.”  read more …

The financiers have purchased The Glen in south-east Melbourne, close to Glen Waverley station. 

The Urban Developer, 25 September, 2026

Follow our new LinkedIn Page