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<img src="https://counter.theconversation.edu.au/content/57114/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
When the Committee for Economic Development of Australia (CEDA) recently released its recommendations on how the government should balance the budget, it prefaced it with the statement “No economic problem in Australia is graver than the persistence of large budget deficits”. But precisely the opposite is true.
To understand why, it’s necessary to explain the economic work of David Alan Aschauer. Work that appears to have been ignored in the current discussion about budget deficits.
Aschauer investigated the effects of government spending on infrastructure in increasing of the rate of return on private investment and hence on the volume of investment in the private sector. His work has been accepted by an extremely wide range of economists. It is not new. His most-quoted article was published in 1989.
Moreover, Aschauer is a neoclassical economist; that is he belongs to what is currently the dominant school of economics. Since 1989 there have been many articles published by Aschauer and his followers.
Aschauer himself summed up his work in the following quote:
“On neoclassical grounds expansions of public investment spending should have a larger stimulative effect on private output than equal-sized increases in private consumption expenditure. Specifically, public investment is argued to induce an increase in the rate of return to private capital and, thereby, to stimulate private investment expenditure.
The empirical analysis indicates that movements in public investment bring forth movements in private-sector output which are four to seven times as large as the public sector outlays.”
Of course, there can be, and have been, arguments about the size of the effects that Aschauer estimated in his empirical work. The general tenor of these is that the figure is more likely to be closer to the lower end of Aschauer’s range than the top.
But when researchers at UNSW made estimates for Australia, they arrived at a figure they described as “very similar to Aschauer’s (1989) findings for the United States". They concluded that “public capital plays an important role in private production, a role which may often be overlooked”.
This provided evidence, they believed, of the positive relationship between public capital and productivity in the private sector in Australia in the 30 years before they wrote their article.
Both Aschauer and the Australian researchers Glenn Otto and Graham Voss used aggregate data – data for the whole public capital sector and for productivity in the private sector as a whole.
Their striking and important results do not remove the need for governments to pick public investment projects that are more likely to increase private sector productivity. The models they and Aschauer have used are too simple to give convincing answers to the question, which requires the use of much more sophisticated models. However, they do cast doubts on the likelihood of politically motivated public investment projects contributing anything to long-term growth in Australia. And they were not writing in an election year.
Current discussions about budget deficits largely ignore the work of Aschauer and are much poorer as a result.
If some attention had been paid to this work the gloom and doom of CEDA’s recent report would have been greatly reduced.
John Nevile is visiting emeritus professor, UNSW Australia and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/john-nevile-139716" target="_blank">here</a>.
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jchancellor-FAypfDUnLy

Balancing the budget mantra overlooks benefits of infrastructure spending

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Australian cricket captain Steve Smith has taken a shine to Balmain property.
He has snapped up another investment on the pensinsula. His investment portfolio now stands at $4 million plus.
This one is a contemporary apartment in a boutique conversion of the Tin Sheds.
<a href="https://www.realestate.com.au/property-apartment-nsw-balmain-121952010" target="_blank">It has two bedrooms</a>, a study and two entertaining terraces.
The property had been up for auction, then listed at $1.375 million.
After being on the market for 58 days, McGrath Balmain agents Karl Howard and Ben Munro Smith secured the sale earlier this month.
Smith was likely back in Australia following the national team's poor performance in the T20 World Cup in India to oversee the sale.
He will want to secure a rental before his side head to West Indies for the Tri-Nation Series in West Indies where they play also play South Africa.
He paid $2 million for a knock-down re-build in the east, and work has already begun in knocking down the dilapidated three bedroom cottage.
The deal included DA-approved plans for a two-storey home with basement parking by architect firm Connor &amp; Solomon.
With a two storey apartment, Smith has lived in Coogee since he paid $1.75 million in 2007.
His property portfolio also includes a $435,000 off-the-plan apartment Sans Souci which he bought in 2011 and a two bedroom apartment in Marrickville which he paid $635,000 for in 2013.
Smith is now the Australian captain across all forms of the game and was the first Australian captain since Warwick Armstrong in 1920 to go unbeaten through his first 10 Tests.
This article was first published in the Saturday Daily Telegraph. 
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Steve Smith takes shine to Balmain investment

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The legendary Collingwood full forward Peter McKenna has his Richmond home listed for May auction.
It is an Edwardian cottage at <a href="https://www.domain.com.au/8-malleson-street-richmond-vic-3121-2012744820" target="_blank">8 Malleson Street</a> listed through Jellis Craig agent Luke Schickling, who has $1 million plus hopes for the three-bedroom property.
McKenna, who kicked 874 goals playing 180 games for Collingwood between 1965 and 1975, is considered of the game’s all-time greats.
It was bought at 1998 auction costing $306,750.
It goes to May 14 auction.
Collingwood's median house price is $907,500, according to CoreLogic RP Data.
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Peter McKenna lists Richmond Edwardian cottage

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The pace of capital gains rebounded from the relatively flat numbers recorded in March, with dwelling values increasing by an average of 1.7 percent across the CoreLogic RP Data combined capitals’ index.
The latest figures now take the combined capital city dwelling values measure 3.3 percent higher over the first four months of 2016.
Across the country, housing market trends remain mixed, however, CoreLogic RP Data research director Tim Lawless noted that the improvement in the rate of capital gains has been ‘broad-based’ during 2016 with every capital city except Perth recording a lift in dwelling values over the calendar year to date.
<a href="/images/2016/05/02/Screen%20Shot%202016-05-02%20at%2011.18.13%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/02/Screen%20Shot%202016-05-02%20at%2011.18.13%20AM.png" alt="">
“The results show value growth moved at a faster pace compared with the final three months of 2015 when capital city dwelling values slid 1.4 per cent lower off the back of weaker market conditions in Sydney and Melbourne.
“While we’ve seen capital gains moderate substantially after peaking last year in Sydney and Melbourne, dwelling values continue to trend higher, just not as fast.
"The annual rate of growth in Sydney peaked at 18.4 percent in July last year and has since moderated back to slightly less than half the peak rate of growth, at 8.9 percent over the most recent twelve month period,” Mr Lawless said.
Melbourne’s housing market continues to show a level of resilience to a slowing trend, however the annual growth rate has fallen from a recent peak of 14.2 percent to the current annual growth rate of 10.1 percent; Melbourne was the only capital city to see double digit growth over the past twelve months.
Perth and Darwin remain as the only two capital city markets to experience a decline in home values over the past twelve months, with Perth values down 2.1 percent and Darwin values 3.7 percent lower.
“With recent month-on-month increases in home values in these two cities, the declining trend rate is now levelling.
"This may be an early sign that these markets are beginning to find their cyclical trough after more than a year of annual declines.”
<a href="/images/2016/05/02/Screen%20Shot%202016-05-02%20at%2011.20.46%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/02/Screen%20Shot%202016-05-02%20at%2011.20.46%20AM.png" alt="">
Over the current growth cycle, which commenced broadly in June 2012, capital city dwelling values have moved 34.4 percent higher, led by a 52.7 per cent rise in Sydney home values, and a 37.1 percent lift in Melbourne values.
Brisbane experienced the third highest rate of dwelling value growth over the growth cycle to date; dwelling values in the city are now up 18 percent. 
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Dwelling prices rise for fourth consecutive month in April: CoreLogic RP Data

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The Colin Irwin designed Silvermere Farm near Narooma on the NSW South Coast has $4.75 million hopes.
The property boasts lake with jetty on its 124 hectare private peninsula.
Listing agent David Nolan of WebsterNolan suggested that his buyer demographic was the semi retired, 50-65 year old.
The farm comes with architect designed residence enjoying panoramic views.
It was the Nowra-based architect Colin Irwin at 1 Architecture who designed the series of wave-inspired pods, with views from every room out to the estuary and the open ocean. 
It is set 10 mins from Narooma and Tilba Tilba , 45 mins from Moruya airport and 30 mins from Bermagui.
The highly fertile pasture improved soils are currently running Angus cows and calves, Dorper ewes and lambs
There is guest accommodation and manager’s residence.
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Silvermere Farm, NSW South Coast offering

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The trophy estate, Fernhill at Mulgoa has returned to the market.
<a href="https://www.realestate.com.au/property-house-nsw-mulgoa-122554922" target="_blank">Set on 383 hectares at the foot of the Blue Mountains</a>, its stunning seven bedroom sandstone residence was completed in the 1840s for the Cox pioneering family.
Fernhill’s heritage-listed Greek Revival temple style homestead is set high on the hill with sweeping valley views from its classic colonnaded porch. Inside features a 16-seater dining room and sprung ballroom.
Marketing on the $30 million plus estate commenced on the weekend through Ken Jacobs at Christie's International.
The debenture firm Angas Securities has moved to offload the property after its complex put and call sale option to South African businessman Simon Tripp and his wife Brenda eventually fell through.
Angus took on the holding in 2011 after property developer Warren Anderson vacated the property, located around an hour’s drive west of the Sydney CBD.
Anderson, who housed stuffed animals in the ballroom, was forced to depart after a long court battle with receivers following the break-up of his 42-year marriage.
It was furnished with Regency antiques, paintings and French Empire clocks, on the back of Anderson's 20 years success in consolidating development sites for Coles New World.
The Adelaide-based boutique financier, are still seeking permissions to develop 100-lot plus housing on its outer perimeter of the entire 654-hectare property.
Picnic race meetings were held during the brief occupancy of the entreprenurial Simon Tripp and his wife Brenda to provide income for the costly estate.
Fernhill has a great thoroughbred history, as one of the greatest racehorses that ever trod the Australian turf, Yattendon died at Fernhill in 1880.
Winner of the Sydney Cup in 1866, Yattendon produced Melbourne Cup winners Chester (1877) and Grand Flaneur (1880).
The stables are the oldest buildings on site having housed the Irish stonemasons who worked on the sandstone residence designed by the colonial architect Mortimer Lewis.
Fernhill was built by William Cox, an engineer who oversaw the road that passed over the Blue Mountains, for his son Edward.
It remained in the ownership of the Cox family until 1896, when it sold to the Wright family, of Wright, Heaton and Co, who billed their firm as the most extensive carrying firm in the colony.
Anderson bought it from John Darling IV in 1980 for $2.8 million. Darling paid 22,500 pounds in 1955.
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Fernhill at Mulgoa boomerangs back onto market

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The backpacker killer Ivan Milat's home at the time of his 1994 arrest, in quiet Cinnabar St, Eagle Vale, hit the market earlier this month, then became big news on the weekend.
By this morning the listing had been pulled briefly from websites as the gutted owner tweaked the words to remove the street address.
They hope it won't be now difficult to sell the four bedroom brick home with its dark past.
It last sold in 2006 at $386,000 having been sold by the Milat family in 1995 at $160,000.
It was priced at $685,000 to $715,000 through Century 21 Premier Reality.
Milat was convicted of the murders of seven backpackers in 1996 after their bodies were found in the Belangalo State Forest, near Berrima in 1992 and 1993.
Milat is serving seven consecutive life sentences in Goulburn super-maximum security prison.
The special operations police arrested him at the home in 1994.
Ivan Milat bought in 1992 with his sister Shirley Soire for $50,000, with the siblings selling it in 1995 at $160,000.
Century 21 Premier Reality agent Susan Parkes told The Sunday Telegraph that prospective buyer feedback was that “it’s a lovely home."
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Milat home relisted two decades after its dark past

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Barry Plant, head of the Victorian estate agency that bears his name and which is in talks with LJ Hooker about creating a joint venture company, said the Melbourne trust fund missing millions matter would not affect their ongoing talks. 
It was revealed last month in The Australian Financial Review that LJ Hooker and Victorian real estate agency Barry Plant were in the final stages of talks about creating a joint venture company.
The two businesses account for 6.7 per cent and 1.9 per cent respectively of the national volume of real estate sales.
LJ Hooker has 700 franchises in Australia and New Zealand.
Barry Plant has 80 franchised offices in Victoria – with an 11.5 per cent state market share by volume.
It also has two offices in Gold Coast and Adelaide.
Any joint venture that would keep the two brands distinct.
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Barry Plant says LJH talks will continue

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Melbourne's auction market saw around 1260 auctions on Saturday which, Domain economist Dr Andrew Wilson noted, exceeded the previous record for any April weekend.
Melbourne reported a strong 74 percent clearance rate, the same as Sydney which hosted its second busiest Saturday so far this year.
But the dead heat between the two auction capitals was of limited interest with media attention on more horrendous matters.
In Melbourne it was the missing millions after six LJ Hooker offices were closed by Victorian Consumer Affairs given trust account irregularities.
And in Sydney it was the listing of the former home of the backpacker killer, Ivan Milat.
It was the Eagle Vale home at the time of his 1994 arrest, in quiet Cinnabar St (above).
The four bedroom brick home with the dark past last sold in 2006 at $386,000.
Ivan Milat bought in 1992 with his sister Shirley Soire for $50,000, with the siblings selling it in 1995 at $160,000.
It is now priced at $685,000 to $715,000 through Century 21 Premier Reality agent Susan Parkes who told The Sunday Telegraph that prospective buyer feedback was that “it’s a lovely home."
In 1996 Milat was convicted of the murders of seven backpackers after their bodies were found in the Belangalo State Forest, near Berrima in 1992 and 1993, and is serving seven consecutive life sentences in Goulburn super-maximum security prison.
There's already talk of jail after millions in deposits are claimed to have gone missing from the trust accounts of six LJ Hooker offices in outer Melbourne. 
There have been varied counter claims of a hacking or an elaborate conspiracy, but it appears no-one is giving them much credence.
Consumer Affairs Minister Jane Garrett said those responsible would feel the full force of the law.
"This is horrendous behaviour," Ms Garrett told reporters on Saturday.
"We changed the locks on these offices as soon as we found out irregularities had occurred."
Some 20 homeowners, along with 80 rental tenants, are caught up in the matter after irregularities were found in a LJ Hooker franchise in Glen Waverley and its associated branches in Keysborough, Mount Waverley, Burwood, Doncaster and Box Hill.
The branches are operated by husband-and-wife, Joseph Ngo and Judy Thanh Truc (also known as Judy Nguyen), who were named LJ Hooker’s Best Team of the Year in 2015.
“Houses around Melbourne, and certainly in these areas, are very expensive,” Ms Garrett said.
Ms Garrett said anyone found to have misused trust money could face very significant charges and jail time.
“We take an absolute zero-tolerance approach to this,” she said.
“This is other people’s money. Like lawyers you hold it on trust … [if you] abuse that trust, you’ll feel the full force of the law.”
CoreLogic RP Data reported Melbourne was host to 1,272 auctions, making it the busiest of any of the capital city markets for auctions by a long run.
The preliminary clearance rate for the city was 74 per cent this week.
There were around 800 Sydney auctions.
Preliminary results for Brisbane show a 49 per cent clearance rate.
The number of Adelaide auctions rose to 129 this week, with agents securing a 64 per cent success.
Perth's clearance rate was 46 per cent. Canberra’s clearance rate fell from 73 per cent last week to 67 per cent. 
The national result sits at 71 per cent, up marginally from a final auction clearance rate of 69 per cent last week, but lower when compared to one year ago at 78 per cent.
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Melbourne weekend auctions break April records

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Mundarlo's Deltroit Station, one of the standout pastoral holdings of the Eastern Riverina, has been listed for sale.
It is less than three years since it was bought by the Brisbane-based investment company, Australian Pastoral Group (APG).
The 2548 hectare (6296ac) grazing and cropping property, with 1902 homestead situated 33 kilometres south of Gundagai in the Hillas Creek valley, was bought by APG in 2012.
It became the administrative flagship of APG, a company established by Alan Hayes, who was previously the founding chief executive of Paraway Pastoral Company for Macquarie Bank.
APG’s two other stations, the 141,000ha Neumayer Valley in the Gulf of Carpentaria, and the 6000ha “Kinbeachie” at Goondiwindi in south-west Queensland are also for sale through Inglis Rural Property.
Offers are closing May 19, with Inglis’ sales manager, Sam Triggs, suggesting in the $18-$20 million range, given the property’s proven productivity and high standard of improvements.
Taken up as a selection in 1866 by William and John Richardson, Deltroit Station remained in Richardson descendants’ ownership for nearly a century.
Subsequent owners included US-based King Ranch principal Robert Kleberg, the Adelaide-based Barr-Smith family, and former Lumley Insurance chairman Anthony Crichton-Brown who was the 2012 vendor.
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Deltroit, Mundarlo listed by APG

An entity directed by HSN's Rafi Assouline and Rebel Property's Allen Linz has filed plans for an impressive new precinct in Woolloomooloo.

The major mixed-use development would transform a prominent William Street site into a new residential village anchored by affordable housing and a large public park.

The proposal, submitted as a State Significant Development Application, covers 164-172 and 174-194 William Street, a 6,398 sqm site between Forbes Street and Dowling Street on the southern edge of Woolloomooloo.

Designed by fjcstudio in collaboration with Bangawarra, Studio Bright and Tribe Studio Architects, the scheme would deliver 227 apartments across four residential buildings ranging in height up to 18 storeys, alongside retail space, public domain improvements and a new publicly accessible park.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="0eb59b7c-914a-4a5c-b849-3a56749f5e93" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.18.51%E2%80%AFAM.png?VersionId=mxM6EEqeoLjrCiTlCzTKTvzpKuh6kSkH" />

It's another design scheme for Rebel, who took <a href="https://www.apartments.com.au/news/nsw/first-look-rebel-property-group-takes-woolloomooloo-precinct-to-nsw-government">concept plans to the NSW Gov late last year</a>.

The latest plans will be a mix of 167 build-to-sell apartments and 60 affordable apartments, with the affordable housing component representing 15 per cent of the project's gross floor area. The apartment mix includes 12 one-bedroom, 53 two-bedroom, 89 three-bedroom apartments and 13 penthouses, while the affordable housing component would comprise 42 one-bedroom and 18 two-bedroom apartments.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="3b3d4553-8a8c-4af5-aa8c-519ffb1e28c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.12%E2%80%AFAM.png?VersionId=_Yb6ibN7eDnOtQjCNDK2eviORa4qzgv." />

Rebel Property is seeking to take advantage of the NSW Government's infill affordable housing bonus provisions under the Housing SEPP, which provide additional floor space and height in exchange for the delivery of affordable housing for a minimum of 15 years. The planning pathway allows a 30 per cent increase in floor space ratio and building height where 15 per cent of the development is dedicated to affordable housing.

&nbsp;

At the centre of the development is a 1,356 sqm sunlit public park designed to become a new community gathering space at the gateway to Woolloomooloo. The park would be complemented by a network of pedestrian laneways connecting William Street with the surrounding streets, improving permeability through what is currently a largely impermeable block.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="257af931-a393-4007-8c6d-7219796df58d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.51%E2%80%AFAM.png?VersionId=KAHy94GrhaReFsWTGDKfy39EDJ8gEEv4" />

The design team says the public domain has been heavily influenced by the site's topography and Aboriginal cultural heritage, drawing on the escarpments, gullies and landscape characteristics that historically defined the area before urbanisation. The landscape design has been developed in partnership with First Nations consultancy Bangawarra.

The project would be delivered across four separate buildings. The William Street East and William Street West buildings, designed by fjcstudio, would contain the majority of the apartments. Melbourne-based Studio Bright has designed the Forbes Street building, while Tribe Studio Architects is responsible for the Dowling Street building.

Rebel had secured approval for the concept plans late last year.

Joel Robinson

First look: HSN, Rebel, advances Woolloomooloo precinct plans

A locally heritage-listed furniture showroom on Water Street is set to become the centrepiece of a new mixed-use residential development as local developer&nbsp;<a href="https://www.apartments.com.au/developers/keylin-group">Keylin</a> seeks approval for <a href="https://www.apartments.com.au/new-apartments/lotus-on-water-street-290-water-street-fortitude-valley-qld-4006">Lotus on Water Street</a>, a 15-storey project on the Fortitude Valley side of Spring Hill.

The proposal spans 290 Water Street and 137-141 Warry Street, combining several properties into a 2,869 sqm site that sits between Fortitude Valley, Spring Hill and the rapidly evolving Victoria Park precinct. Keylin's plans would deliver 132 apartments alongside new retail, hospitality and commercial space, while retaining and repurposing the historic Brunswick Home Furnishers Showroom that fronts Water Street.

Designed by <a href="https://www.apartments.com.au/architects/jackson-teece">Jackson Teece</a>, Lotus on Water Street comprises a 12-storey residential tower rising above a three-storey podium and communal rooftop terrace. The development includes 76 apartments classified as multiple dwellings and a further 56 units proposed as short-term accommodation, designed to be flexibly used as either accommodation or permanent residences. The apartment mix comprises six one-bedroom, 54 two-bedroom and 16 three-bedroom homes.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="9822bb79-6c49-49c9-95ba-319e8c8d81c3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20front.png?VersionId=ioW8zbN4UVebbLetTFuv92t.HkdgfR5e" />

Residents would have access to an extensive rooftop recreation level spanning more than 1,200 sqm of communal open space. Plans include a pool, gym, sauna, infrared sauna, yoga area, library, private dining room, barbecue facilities and landscaped entertainment spaces, making the rooftop the project's largest shared amenity offering.

At street level, the proposal focuses on the adaptive reuse of the heritage buildings along Water Street, where 518 sqm of retail and commercial space is planned across shop, office and food and drink outlet uses. A permeable residential lobby would be positioned between the retained heritage buildings, creating a pedestrian connection between the historic streetscape and the new tower behind.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="269cf3e0-7d13-48bf-a318-05a00deb5c10" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20podium.png?VersionId=DLXmTCLsp6GOcLpQ0h.0z7wKCw59EhN_" />

The heritage retention strategy is central to the scheme. The development application notes that the Brunswick Home Furnishers Showroom and adjoining heritage buildings will remain, with only non-significant structures on the site earmarked for removal under a previously issued Heritage Exemption Certificate. Levels one and two of the new podium are recessed behind the heritage façades to maintain their prominence within the streetscape.

Jackson Teece has drawn inspiration from the site's manufacturing history when designing the podium. The planning documents state that the façade incorporates perforated metal screening that references the woven and rattan furniture historically produced on the site. Cascading and climbing plants are integrated throughout the podium to soften the building's presentation and screen parking levels behind. The landscape strategy also informs the project's name, Lotus on Water Street, drawing on the historic Spring Hollow waterholes that once ran through Spring Hill and the blue water lilies associated with Meeanjin, Brisbane's traditional name.

The proposal also incorporates the neighbouring property at 141 Warry Street, currently occupied by a healthcare service. The existing building would remain, with nine dedicated parking spaces allocated within the new development to support its ongoing operation. In total, Lotus on Water Street proposes 117 car spaces, including 110 resident spaces and seven visitor bays, alongside 100 bicycle spaces.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="70cf07bc-4fd8-4e70-92dd-be8b21c4e4f0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20site.png?VersionId=txlxrJImM0Sm_vTzHVKh5DDUkyL_CiiA" />

The site sits within the Spring Hill East Precinct of the Spring Hill Neighbourhood Plan and is positioned around 650 metres from both Fortitude Valley Station and Exhibition Station. It is also within walking distance of the King Street precinct, Royal Brisbane and Women's Hospital, Herston Quarter and Victoria Park, which is earmarked to become a major venue precinct ahead of the Brisbane 2032 Olympic and Paralympic Games.

Planning documents describe the location as a key gateway between Spring Hill and Fortitude Valley and highlight the area's increasing importance as new transport infrastructure and Olympic-related investment reshape Brisbane's inner north. The development team argues the project will contribute additional housing supply while activating a section of Water Street that has historically received less investment than other parts of the Valley.

Keylin has become increasingly active across Brisbane and southeast Queensland, assembling sites in strategic inner-city locations. They are currently selling and delivering <a href="https://www.apartments.com.au/new-apartments/oria-spring-hill-447-gregory-terrace-spring-hill-qld-4000">Oria Spring Hill</a>, just over 140 apartments due for completion in 2027.

Keylin plans heritage-led Lotus on Water Street apartment development in Fortitude Valley

Roseville is poised for a wave of new apartment development following the NSW Government's rezoning of land around Roseville Station under its Transport Oriented Development program.

The new planning controls have unlocked significant development potential within walking distance of the station, with a number of sites expected to be amalgamated and redeveloped in the coming years as developers seek to take advantage of the increased density allowances.

One of the more restrained developments in the precinct, and set among the first to be delivered having commenced well before the recent changes, is Hyecorp's Juliet. The boutique apartment project is already well under construction and remains on track to welcome residents by the end of the year, offering a markedly different proposition to many of the larger-scale developments now likely to emerge across the suburb.

[smartcode_project:default project_id=7395 project_image_fid=278194]

<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet</a> will comprise just&nbsp;34 one-, two-, and three-bedroom apartments opposite Roseville Station. For Hyecorp, which has delivered projects across Sydney's Lower North Shore for more than three decades, Roseville presented a rare opportunity to address a growing gap in the market.

"<a href="https://www.apartments.com.au/developments/roseville-nsw-2069">Roseville</a> has long been one of the North Shore's most tightly held and desirable suburbs, offering a unique combination of village charm, established greenery, excellent transport connections, and proximity to some of Sydney's best schools and lifestyle amenities," Hyecorp said.

"We recognised a growing demand from local homeowners seeking to downsize without leaving the community they have built their lives around. The location presented a rare opportunity to create homes that cater specifically to that buyer profile."

[smartcode_project:default project_id=7395 project_image_fid=278196]

The six-level development has been designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a> as a collection of residences that feel more like homes than apartments. The brief centred generous floorplans, abundant natural light, quality finishes, and strong connections to outdoor space.

PBD Architects drew inspiration from Roseville's established garden suburb character, creating a building that sits comfortably within its surroundings rather than dominating them. The architecture incorporates natural materials, soft forms, layered landscaping, expansive balconies, and generous setbacks to strengthen the connection between residents and the suburb's leafy environment.

"The focus was on designing spacious, house-like residences for discerning owner-occupiers and downsizers who wanted to remain on the North Shore without compromising on comfort, privacy, or design," PBD said.&nbsp;

"Every apartment was to feel considered, timeless, and highly functional."

[smartcode_project:default project_id=7395 project_image_fid=278195]

Inside, residences feature engineered timber flooring, stone kitchen benchtops and splashbacks, integrated Fisher &amp; Paykel appliances, ducted air conditioning, and large outdoor entertaining areas designed to take advantage of district and treetop views.

Residents will also have access to a rooftop barbecue and lounge area, alongside practical amenities including parcel lockers, EV charging capability, bicycle storage, a dog wash bay, and a basement car wash facility.

The majority of purchasers so far have been local owner-occupiers from Roseville, Lindfield, Chatswood, Killara, and the broader Upper North Shore, many of whom are transitioning from larger family homes.

"Buyers are looking for spacious, house-like apartments that allow them to downsize without feeling like they are sacrificing comfort or functionality," Hyecorp noted.

"They value large kitchens, generous living areas, ample storage, quality finishes, secure parking, lift access, and low-maintenance living."

[smartcode_project:default project_id=7395 project_image_fid=278204]

Juliet sits directly opposite Roseville Train Station and within walking distance of Roseville Village, while Chatswood's retail and dining precinct is only minutes away. The development is also surrounded by some of Sydney's most established schools, including Roseville College, Ravenswood, Pymble Ladies' College, and Knox Grammar, as well as nearby parklands and golf courses.

Juliet is currently more than 75 per cent sold ahead of its anticipated completion in late 2026.

[smartcode_project_cta:default project_id=7395]

Juliet to sit quietly amid Roseville apartment boom

Sherpa Property Group has unveiled the third instalment of its Flourish series, securing full approval for the two-tower, $500 million Flourish Soleira development in Palm Beach.

<a href="https://www.apartments.com.au/new-apartments/flourish-soleira-1150-1154-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> will rise from a prominent site in the commercial heart of Palm Beach, the long-time home of Cash Converters and a range of local retailers.

The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.

[smartcode_project:default project_id=150017 project_image_fid=370959]

“We’re very committed to not only providing affordable residential offerings that are much needed in Palm Beach, but also delivering a vibrant new commercial heart that complements the extraordinary growth of the southern Gold Coast,” Sherpa Property Group founder Christie Leet said.

The development will sit under Sherpa's Flourish brand, which is aimed at providing a pathway into the beachside suburb for locals, first-home buyers and downsizers. In a move designed to assist first-home buyers entering the market, Sherpa has reserved all one and two-bedroom, one-bathroom apartments exclusively for eligible first-home buyers.

[smartcode_project:default project_id=150017 project_image_fid=370964]

“Our vision through Flourish is to create a vibrant retail and lifestyle focal point within the Palm Beach centre zone, delivering thriving communities underpinned by lifestyle-rich locations,” Leet said.

“So far, Flourish has been an incredible success, and we hope to carry this momentum as we progress the next two Flourish projects in Palm Beach.”

[smartcode_project:default project_id=150017 project_image_fid=371430]

Located across 1150-1164 Gold Coast Highway and 3 Sixth Avenue, the development will comprise two towers. The northern tower will deliver 154 apartments, while the southern tower will add a further 132 residences, helping address ongoing demand for new apartments in the tightly held coastal suburb.

Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.

The two towers will be connected by a skybridge, with residents gaining access to a rooftop recreation deck featuring a full-width swimming pool, hot and cold plunge pools, wellness spaces, a gymnasium, private dining facilities, massage treatment rooms, barbecue areas, a basketball court, golf simulator, indoor and outdoor dining spaces, sun lounges and extensive landscaping.

LPS Group is expected to start construction later this year.

Sherpa is already well advanced on construction of its debut Flourish project, Flourish Amargo, located just around the corner from Soleira. Meanwhile, Flourish Oasis, positioned opposite Amargo, recently commenced construction and has nearly sold out its collection of 47 apartments.

[smartcode_project_cta:default project_id=150017]

Sherpa unveils $500m mixed-use Palm Beach precinct, Flourish Soleira

Are mortgage holders set to get a reprieve from the RBA in 2026?

Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.

NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.

“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.

"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.

Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.

“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”

Dr Auld said inflation risks and labour market outcomes would be important to watch.

“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”

She said tighter financial conditions are expected to weigh on housing and activity.

“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”

Jonathan Chancellor

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