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GUEST OBSERVER
Australia’s property market found itself caught in a perfect storm last year.
With RBA interest latest sitting at levels not seen since the 1950s, an Australian dollar sitting below 0.80 to the US dollar, and a low a level of inflation, both investors and owner-occupiers alike saw it as the perfect opportunity to claim their piece of Australia’s property market pie. Across the country, we saw new dwelling commencements increase for the third year running at 211,860 in conjunction to the boom in Melbourne and Sydney’s house prices. But after experiencing this seemingly perfect storm that helped us sail prosperously through 2015, as we propel further into the next leg of the race many are left wondering; will 2016 provide the same conditions to herald a consecutive year of property market success?
Much like the weather, our economy is far from static. The forces that once may have assisted us can very quickly take a turn. Some will find this will ultimately put them at an advantage; for others, it may make the voyage a little less linear. While RBA interest rates currently sit on 2 percent and are expected to hold, and the Australian dollar floats around 0.70 to the greenback, it is the banks that have changed their game. The rhetoric of global economic uncertainty currently prevailing among business experts means that banks have had to respond. More stringent stress testing standards to assess their capability to respond to a financial downturn mean this is also being applied to investors in 2016. As the cost of capital has increased for banks due to greater risk, investors will now find it harder to access loans. While there has always been a degree of stress testing, the margins are now higher. The Big Four Australian banks have a large amount of security tied to residential debt, so while you may put in an application at 4 percent it is likely to be tested at 6 percent. This creates an environment where being able to prove cashflow is prime, highlighting two major players: those who have assets but are cashflow poor and may struggle to liquidate, and those with strong balance sheets with a large amount of cash on hand who can prove mitigation of future risk. For those who are able, commercial property will likely be the investment pick, with better yields and stronger prospects for long-term tenants providing stronger foundations for capital growth and ultimately a more secure investment.
It is important for both large scale and individual investors alike that property is not a short-term venture, and disruptions in the market should not instantly prompt investors to sell. Those who panic will ultimately lose because they are selling in a softening market if having purchased recently. Given the nature of our globally-linked financial markets and the uncertainty surrounding them, it is likely interest rates will remain low for at least several years to come. If you are sensible with the amount you are borrowing, and gear yourself comfortably, you are likely to be in a winning position in the long run.
Our perfect storm may well be on the turn, but it’s still presenting a whirlwind of opportunity for property investment. This will be easier for some more than others, but with a prudent and logical financial approach, there’s still plenty of opportunity to capitalise.
 
Andrew Fawell is director, Beller, and can be contacted <a href="https://beller.com.au" target="_blank">here</a>. 
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jchancellor-FAypfDUnLy

The perfect storm continues for the Australian property market: Andrew Fawell

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A pistachio farm in the Wimmera region, The Pistachio Farm has been listed for sale.
The pistachio orchards spread across 103 hectares of land over the 312 hectare property.
There are less than 50 pistachio growers across Australia.
<a href="https://rea.colliers.com.au/property-horticulture-vic-telopea+downs-7802814" target="_blank">The Pistachio Farm</a> accounts for more than 10 percent of total plantings, the fourth largest operation in the country.
The farm gate value of Australian pistachios is currently $9 million and is expected to rise to $30 million by 2025.
Receivers Matthew Caddy and Keith Crawford of McGrathNicol have appointed Colliers International’s Jesse Manuel and Tim Altschwager to sell the property.
The current vendors bought the farm in 2008.
Manuel told The Australian Financial Review that price levels hovered around $5 to $6 per kilogram for many years up to 2011 before there was a consistent rise every year up until 2015 when the price reached $13 per kilogram.
There are currently less than 50 pistachio growers across Australia, with a total of around 950ha of trees planted.
The property is located in Telopea Downs, about 350 kilometres south-east of Adelaide and 440 kilometres north-west of Melbourne.
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Wimmera Pistachio farm listed

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Melbourne high-rise developer Joe Russo has suggested finding new sites for development in Melbourne that stacked up was now a lot harder. 
He forecast a lot of smaller developers would run into trouble with banks tightening up their development lending criteria following changes enforced by APRA.
"To get a loan now you need a proven track record and you have to have more pre-sales," he said.
"So there will be a nice clean-out of development sites from these developers, who paid a lot of money, but who now can't make them work.
"They will try to offload them, but there aren't a lot of takers," he told The Australian Financial Review.
He said sites with permits had too-high price tags, while those without permits now came with too much planning risk, following new interim height controls last year by Victorian Planning Minister Richard Wynne.
Caydon has recently received approval for the first stage of its $700 million Moonee Ponds development in Melbourne's inner north-west.
Caydon has yet to secure a permit for the $1 billion Nylex site development in Cremorne.
Mr Russo paid over $42 million to buy the 13,400-square-metre Moonee Ponds site from Leighton Properties and Qualitas in April last year with plans for over 1200 apartments. 
Picture of Caydon's Margaret St Moonee Ponds development
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Joe Russo forecasts "clean-out" of smaller Melbourne developers

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GUEST OBSERVER
Hard-pressed ratepayers in New South Wales and Queensland need no reminding of the perils of municipal amalgamation. 
NSW experienced a sharp dose of forced mergers in 2004. Queenslanders underwent draconian council consolidation under the Beattie government in 2008.
NSW is now on the cusp of a further round of mergers being inflicted on unwilling councils.
In all three cases, the architects of compulsory amalgamation have been under the sway of the dogma that “bigger is better” in local government. Ratepayers are told amalgamation will herald a new dawn of lower rates, cheaper services, improved service quality, enhanced financial viability and superior administration and planning.
In NSW, the Baird government has especially emphasised the financial advantages of municipal amalgamation. These claims are typically presented as the outcome of careful research and deliberation.
Mergers tested in a real-world experiment
Are these claims consistent with the empirical evidence? My colleagues Brian Bell and Joseph Drew and I investigated this question for NSW’s 2004 forced amalgamations.
We took advantage of being able to use 2014 data to compare the performance of merged councils with their unmerged counterparts over ten years.
We compared amalgamated “general purpose” councils with their un-amalgamated peer councils in the same local government classification. We thus had the benefit of a “natural experiment”, being able to compare the two groups of “like” councils against a common set of performance indicators.
Our peer-reviewed research paper will be published shortl<a href="https://www.propertyobserver.com.au/https://esa.snapdev.com.au/news/15991">y</a>.
The criteria we used for this comparison included four the Baird government is using under its “Fit for the Future” program – operating performance, own-source revenue, building and infrastructure renewal, and asset maintenance ratios – as well as council employees per capita.
We found no statistically significant differences in the performance of the two groups of councils against these criteria. This falsifies past claims by the Carr Labor government that its forced amalgamations would substantially improve NSW local government financial performance. It also undermines the Baird Coalition government’s claims for its proposed mergers.
Evidence mounts against ‘bigger is better’
Other research provides additional damning evidence. For example, Joseph Drew, Mike Kortt and I examined the outcomes of forced amalgamations in Queensland in 2008. These reduced the number of councils from 157 to just 73.
Our research demonstrated that this resulted in a greater proportion of councils exhibiting diseconomies of scale. That is, mergers created entities that were simply too large to be run efficiently.
Furthermore, of the 31 new councils the mergers created, 58% exhibit decreasing returns to scale. Comparing their efficiency through time, we found merged councils performed worse than unmerged councils.
Finally, Elizabeth Sinnewe, Mike Kortt and I recently tested the claim that “bigger is better” by examining the financial performance of Australia’s largest council by population, Brisbane City. In our recently published analysis, we compared Brisbane City Council to Sydney City Council, the average of six southeast Queensland councils and the average of ten metropolitan NSW councils.
We did so using four measures of financial performance – financial flexibility, liquidity, debt service capacity and asset management. Between 2008 and 2011, the three comparator groups outperformed Brisbane Council in financial flexibility, liquidity and debt-servicing ability.
Taken together, these three papers cast doubt over the continuing dogma that “bigger is better”. They also add to the empirical literature on municipal mergers by demonstrating that “biggest is not best” either.
In particular, the financial performance of local authorities does not improve as advocates of amalgamation contend. On the contrary, amalgamated municipalities often perform worse than their unmerged counterparts.
Amid the controversy over the Baird government’s compulsory council consolidation program, our findings underline the foolishness of making public policy in an “evidence-free” manner.
If forced amalgamations proceed, we may well see hundreds of millions of dollars in taxpayer and ratepayer funds squandered simply because policymakers preferred dogma to empirical evidence.
Brian Dollery is professor of economics and director of the Centre for Local Government, University of New England and author for The Conversation. He can be <a href="https://theconversation.com/profiles/brian-dollery-162945" target="_blank">contacted here</a>.
 
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Do mergers make for better councils? The evidence is against ‘bigger is better’ for local government

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The Australian columnist Alan Kohler says to a large extent the 2016 Federal will be all about house prices, which he suggests "is both good and bad."
He says the Reserve Bank is out of ideas as "cutting interest rates to lower the dollar just sends house prices higher."
Instead Kohler says its the politicians’ turn to do something. 
The Labor Party wants to limit negative gearing to new construction, the Coalition wants to reintroduce the Australian Building and Construction Commission.
The policies, he suggests are seeking to address high property prices and  high wages. 
"Workers have to be paid a lot to service their housing debt; without overpriced houses, Australian wages wouldn’t have to be so high," he notes.
"Labor has a tricky selling task selling its negative gearing policy because it is trying to argue that the change will make housing more affordable, but won’t result in house prices falling. 
"So Labor leader Bill Shorten has to assert that it will merely lower the rate of increase in house prices.
"Similarly, the Coalition’s policy of cracking down on the construction union and bringing back that ABCC, which is the potential trigger for the double dissolution election and therefore its key reason, is an attempt to reduce the cost of building apartments and thereby reduce Australia’s high cost structure."
Kohler suggests despite it being discussed politically as an ideological anti-union crusade, "which it is to some extent", at a practical level it’s just an attempt to bring down Australia’s high cost of housing. 
"The dividing point between union and non-union construction is three storeys: anything above that height must involve the CFMEU.
"Research commissioned by Master Builders Australia has found that the difference in labour cost between four storeys and two storeys is 24 percent."
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Politicians time to take the reins with RBA out of ideas: Alan Kohler

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The Yarraville home of the AFL player Jordan Roughead has sold for $815,000.
The Western Bulldogs player Jordan Roughead secured $65,000 over reserve through Terry Fitzpatrick of Jas Stephens.
It was a couple with two children from West Footscray who fought off three other bidders to secure the three-bedroom weatherboard on Urwin St.
Roughead paid $610,000 in early 2012.
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Jordan Roughead sells in Yarraville

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A one bedroom property in Main Ridge Victoria is on the market.
Set on 26 hectares of grazing bush and sprawling hills, the property offers views to Bass Strait, the Heads, Port Phillip and the Bellarine Peninsula.
A building permit to extend the original, architecturally designed stone dwelling to a four bedroom home exists. 
A stream meanders through the property and a dam supplies water for livestock.
A separate studio is nestled into the hillside further down the estate.
The property at <a href="https://www.realestate.com.au/property-house-vic-main+ridge-121424642" target="_blank">32 Davos Street</a> is available through Meg Pell of Kay &amp; Burton Flinders.
The home has been on the market for 125 days.
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One bedroom retreat at Main Ridge listed

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GUEST OBSERVER
Former Bank of England Governor Sir Mervyn King famously wrote that, “a successful central bank should be boring”.
The recent consensus in monetary policy, given the absence of major news about the Australian and overseas economies to inform policy makers, appears to be just that.
The unemployment rate, according to the latest ABS figures, fell to 5.8 percent, and inflation, at 1.7 percent, remains below the RBA’s target band of 2-3 percent. 
Economic growth came in at an annual 3.0 percent at the end of 2015, fuelled by stronger household spending and government expenditure, while investment declined by 0.6 percent in the fourth quarter, subtracting from GDP growth. Yet real domestic income increased by only 0.1 percent in the fourth quarter, reflecting a decrease in Australia’s terms of trade.
Overall, the outlook for the Australian economy looks much the same as the previous month. The CAMA RBA Shadow Board’s policy preferences remain virtually unchanged from last month. It continues to have a strong preference for keeping the cash rate on hold, attaching a 69% probability to this being the appropriate policy setting. The confidence attached to a required rate cut equals 23%, while the confidence in a required rate hike only equals 8 percent.
The fall in Australia’s unemployment rate can be almost entirely attributed to a fall in the participation rate from 65.1 percent to 64.9 percent. There has been no new data on real wage growth, which remains worryingly subdued.
The weakening of the US dollar has seen the Aussie dollar rebound to above 77 US¢. The trade balance remains firmly in deficit, equalling $2.9 billion in January (down from $3.5 billion in December 2015). Yields on Australian 10-year government bonds have inched up to 2.53 percent. The yield curve thus remains relatively flat.
Global stocks have rebounded spectacularly since the rout at the beginning of this year, while commodity prices have also gained some ground. Conversely, volatility, as measured by the VIX volatility index, has been declining steadily since its peak in early February. The last month has brought little in the way of news about the health of the world economy. The US economy still looks to be the pacemaker, with Europe, Japan, the BRICS countries and other developing economies expanding only modestly. High indebtedness in many countries remains a concern, even at historically low interest rates.
The Shadow Board’s confidence measures are virtually unchanged from the previous month. It attaches a 69 percent probability that “no change” is the appropriate policy, a 23% probability that rate cut is appropriate and an 8% probability that a rate rise, to 2.25 percent or higher, is appropriate.
The probabilities at longer horizons are as follows: 6 months out, the estimated probability that the cash rate should remain at 2 percent remains at 30 percent. The estimated need for an interest rate decrease has risen to 25 percent (23 percent in March), while the need for a rate increase has fallen to 45 percent (47 percent in March). A year out, the Shadow Board members’ confidence that the cash rate should be held steady dropped three percentage points, from 22 percent to 19 percent, while the confidence in a required cash rate decrease equals 18 percent (16 percent in March) and in a required cash rate increase 62 percent (63 percent in March).
To access the comments made by the RBA Shadow board <a href="https://cama.crawford.anu.edu.au/sites/default/files/outcome/attachments/2016-04/shadow_board_comments_april2016.pdf" target="_blank">click here</a>.
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Steady is the word, again: RBA Shadow Board

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GUEST OBSERVER
One of the effects of urbanisation is an increasing number of people choosing to live in the inner city, particularly in high density neighbourhoods. 
Re-zoning has allowed many residential areas to become mixed use zones whereby apartment high rises, houses and restaurant strips exist all on the same street. 
In Victoria, these zones are often centred around transport hubs, nearby either tram lines or train stations. All these elements make the hustle and bustle of the city, but one might argue it's getting a little too noisy. External noise has become a modern day pollutant that is difficult to escape, and has captured Secret Agent’s attention.
In Secret Agent’s Healthy Environment report, we recommended buying property that is not located on a main road or nearby train stations to avoid high levels of external noise while at home. It has been found that noise can have detrimental health effects such as cardiovascular disease, even if you think you’ve become accustomed to the low grumblings of traffic and passing trains.
Secret Agent recently discovered that, in addition to poor health outcomes, external noise can have a negative impact on the value of property. The following points summarise what we have discovered about noise throughout our ongoing investigations:
• Houses located on a noisy street in inner Melbourne are worth 7 percent less than the average house on a quiet street.
• Properties directly opposite a train line might have good accessibility but they are approximately 6 percent lower in value than those located a street back from a train line.
• Noise can impact how you feel at home. Studies have suggested that impulsive noise such as loud chatter from your neighbours or pedestrians is more annoying than     constant traffic noise. (Kennedy and Buys, 2010)
• Noise can affect you physiologically with statistical relationships established between noise such as railway and road traffic with cardiovascular disease, cognitive impairment and tinnitus. (WHO, 2011)
• Even low frequency sound waves that you cannot hear can still be felt by the body and cause damage to the inner ear.
Out of all the senses, hearing is probably the most overlooked when it comes to creating spaces. In order to house the rapidly growing population in modern cities, without sacrificing quality of life, there is a greater need to control the increasing sources of noise and the design of spaces that contain them.
For more information, <a href="https://secretagent.com.au/" target="_blank">click here</a>.
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Urbanisation, quality of life and noise: Secret Agent 

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Elwood apartments topped and tailed REIV weekly auction and private treaty results.
The $235,000 Elwood flat at 6/6 Cyril Street (above) had last sold in 2008 at $195,000 and $220,000 in 2001.
It had been a $230 weekly rental when advertised earlier this year, reflecting a five percent rental yield.
Woodards Real Estate had been quoting $195,000 to $210,000 for the 1970s one bedder.
<a href="/images/2016/04/4/Screen%20Shot%202016-04-04%20at%2012.57.47%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/4/Screen%20Shot%202016-04-04%20at%2012.57.47%20PM.png" alt="">
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Elwood apartments top and tail REIV results

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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