Nick Lenaghan
Nick Lenaghan covers how money, policy and people reshape the built environment, with a focus on the property markets that sit between housing need and institutional capital. As property editor at the Australian Financial Review, he oversees coverage that runs from residential housing and construction to commercial real estate, including office, retail and industrial assets, as well as major ASX-listed developers and real estate investment trusts. His recent work tracks the way large transactions, shifting valuations and new asset classes such as data centres are changing where and how capital is deployed across the sector.
Mega deals and property investment
Lenaghan gives sustained attention to large-scale capital flows into property, treating individual deals as part of a wider investment cycle.
In coverage of “mega deals” pushing annual property investment beyond $50 billion in 2025, he links landmark transactions to an aggregate picture of how much money is being committed to the sector and where it is going. He reports on valuations in key business districts, including analysis of why Sydney’s CBD tower prices may rise in 2025 and what that implies for owners and prospective buyers.
Across this work he draws on the listed market, writing on ASX-listed developers, real estate investment trusts and new floats such as a builder whose market debut is framed around both promised dividends and exposure to data centres, showing how equity market narratives intersect with property fundamentals.
House prices and the housing crisis
A recurring thread in Lenaghan’s reporting is the tension between housing demand, prices and the cost of delivering new supply. He covers phases when house price growth flatlines as buyers hold back, treating these pauses as moments to examine affordability pressures and shifting buyer sentiment rather than just short-term market noise. In features on why developers say they cannot build homes people can afford, he highlights the constraints they describe, from construction costs to planning and financing hurdles, and sets those explanations against the broader housing crisis.
His work also follows structural responses within the industry, including analysis of build-to-rent projects and projections that this model could grow to represent close to a fifth of new apartment starts by the end of the decade, signalling how institutional capital is moving into long-term rental housing.
Data centres and new urban realities
Lenaghan’s property coverage extends into emerging asset classes tied to technology and energy transition. He reports on plans by a Singaporean data centre group to turn an energy heartland into a $10 billion artificial intelligence hub, treating the project as both a real estate development and a marker of how digital infrastructure is reshaping regional economies. That same lens appears in his markets-focused work, including the profile of a newly listed builder pitching dividends underpinned by a pipeline of data centre projects, where he connects investor appetite to demand for specialised industrial and energy-hungry assets. He also brings a citywide perspective through pieces such as the forum “Cities are firing again”, an edited discussion with property bosses on post-pandemic urban realities, where questions of office demand, mixed-use precincts and transport-linked development are explored through the eyes of senior executives.
Property leaders, rich listers and a long-running brief
Lenaghan’s beat includes close attention to the people who drive property markets, from listed-company chief executives to private developers and wealthy landlords. In lists of top property players and profiles of property-rich listers navigating the housing crisis, he connects individual strategies to themes such as risk appetite, timing and the ability to secure sites and funding in a tight market. As editor of the property section he coordinates coverage that brings these voices together, including roundtables and forums that set out how sector leaders view shifts in cities, offices and housing.
Before taking on his current role, he worked across newswires and international outlets, experience that underpins a straight, news-driven style and a consistent focus on deals, data and decisions rather than lifestyle angles.
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Aaron Bell
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Adam McCleery
Adam McCleery tracks the money and deals shaping advertising and media agencies. He is a journalist at AdNews, covering agency pitches, account moves, media buying decisions, budgets, contracts and settlements. His beat sits between finance, media and marketing, with a focus on advertiser confidence, commercial outcomes and the pressures facing agencies, brands and media owners. He reports on television, streaming, subscription models and platform strategies, as well as artificial intelligence, data, privacy and ad technology. His past work spans print, digital and business-to-business titles. He writes in a straightforward, deal-driven style. He follows how brands review, consolidate or shift agency relationships, and how pricing, measurement, fragmentation, policy and economic conditions affect spending, investment, risk and the value of agency services.
Adelaide Miller
Adelaide Miller is an award-winning national business reporter at the ABC who stands out for linking markets coverage with accountability reporting on how finance, regulation and corporate decisions affect workers, consumers and small businesses. She covers superannuation, small business obligations, the ASX, global indices, inflation, government debt, investor sentiment, cryptocurrency, corporate conduct, mortgage stress, and consumer impact. She reports on the gap between legislative intent and on-the-ground practice, and she often uses data, live markets context, and direct reporting from affected people. Her background includes ABC Investigations, Background Briefing, and Four Corners. She also has reported on AI-driven political campaigning, Telstra’s Senate inquiry scrutiny, family law, and a personal essay on her grandmother’s dementia. She works across TV, radio, online, and podcast formats.
Adeshola Ore
Adeshola Ore reports on finance and public policy through their effects on everyday life. They are a reporter at the Guardian, covering tax debates, public spending, institutional policy and the communities shaped by them. Their beat also includes politics, rights, social equity, climate, migration, Indigenous policy, agriculture, food safety and public health. Notable reporting has covered bird flu and egg supplies, catastrophic floods, death cap mushroom poisonings, refugee communities, university misconduct and place-naming rules in Tasmania. Earlier work included global climate conferences, international affairs and social policy. Ore reports through live political coverage, ground-level interviews, documents and hearings. They write news features and explainers that clarify complex rules, risks and rights. They also contribute to the Guardian’s daily news podcast, bringing field reporting and interviews with affected communities into wider discussions of politics and policy.