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Retail sales fell during April, despite economists' predictions of a 0.2% rise, according to the latest figures available from the Australian Bureau of Statistics. 
The figures show the trend estimate for retail sales in April grew by 0.3%, but the seasonally adjusted measure fell by 0.2% to $21.2 billion.
This follows a rise of 1.1% in March and 0.2% in February.
The food retailing industry rose by 0.4%, while cafes, restaurants and takeaway food services also rose by 1%, followed by other retailing up 0.5%, and clothing, footwear and personal accessory retailing up 0.3%. Department stores also rose 0.3%.
Household goods retailing fell 0.4%.
This article originally appeared on <a href="https://www.smartcompany.com.au/index.php" target="_blank">SmartCompany</a>. 
 
 
 
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pmcstafford-pr9eMARWoN

Retail sales fall in April against predictions

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The auctions market has continued to perform reasonably well during the autumn slowdown, with experts and analysts saying the industry may have enough momentum to push through the next few months with a better result than last year.
The comments come after <a target="_blank" href="/news">ANZ slashed its mortgage rates last Friday by 37 basis point</a>s, following the other big three banks in cutting rates after the Reserve Bank's shock decision two weeks ago.
According to the Real Estate Institute of Victoria, Melbourne recorded a clearance rate of 63% out of 591 properties on the market, compared to 61% last week and 52% the same time last year, with 581 properties.
REIV chief executive Enzo Raimondo said in a statement that this weekend last year represented a "turning point", when sales started to decline: "At this point, that outcome looks unlikely [to be] repeated this year, which is positive news for vendors".
Analysts are inclined to agree. Andrew Wilson of Australian Property Monitors said this morning the auction market has certainly remained more active, "but we have to take this all in context of what's happening in the broader economy".
"Last year, after a reasonable autumn period, we started to get some broader economic impacts on the housing market. The European debt crisis, the tsunami in Japan and other issues impacted confidence and moved its way through the spring period a well."
Now, he says, it's a very different situation.
"We've had a growth in auction clearance rates in Melbourne and Sydney, and these rates have improved, in all cities. Numbers are still low in terms of properties being offered, but not far off last year."
"The signs are positive the momentum can continue through what is normally a quieter, winter period. That's because the economic dynamics are different, and confidence is lifting as well. We're more optimistic than a year ago."
Interest rate cuts don't hurt, either, especially after ANZ's move last Friday. But Wilson says while this is true, it'll take a few more months for the cuts to seep into the market.
"That definitely improves housing affordability, and some more encouraging numbers are certainly there."
"But the full impact of those falls won't be felt for a month or two."
Results were equally positive in Sydney, with a 61.8% clearance rate from 359 properties, along with 36% in Adelaide and 50% in Brisbane.
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/">SmartCompany</a>.
 
 
 
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Auctions market could maintain momentum through winter, sales figures suggest

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The competition watchdog has contacted 2,500 building industry executives in the past few weeks, warning them of the potential consequences of engaging in price cartel behaviour.
Australian Competition and Consumer Commission chair Rod Sims revealed the move in a speech to the Competition Law Conference, saying many businesses are still unaware that price-fixing or agreeing to restrict supply constituted cartel activity.
Sims also warned the banks about price-signalling ahead of a change to the Competition and Consumer Act that outlaws such practices.
Sims was contacted this morning, but was unavailable to reply prior to publication.
The announcement surprised the building industry; with representatives of industry bodies contacted by SmartCompany this morning saying they were not aware the speech had been made.
However, Brian Welch, chief executive of Master Builders’ Association Victoria, says he has no knowledge of any cartel behaviour occurring in the past 15 years.
“I think if you look at the profit margins of these larger businesses, they’re really quite low, so this doesn’t necessarily smack of higher margins where you’d imagine cartels would be successful.”
“Obviously, we would certainly oppose such behaviour and we’d do anything to stop it.”
Sims said in the speech the organisation is currently investigating a number of important cartel operations, including some that could contain criminal conduct. However, he said the executives who had been contacted would be given a choice.
“We’ve written to 2,500 executives in the last few weeks - in the heavy construction and construction supply industries - providing a reminder about the potential sanctions for cartel conduct, and alerting them to our dedicated web pages.”
“We also provided the name of someone they can contact if they want to report their involvement in a cartel and apply for immunity.”
Sims said the letters were part of a move by the watchdog to raise awareness of cartels. However, no actual companies were named, and industry bodies suggest the organisation is keen to hit the top end of town, rather than smaller operators.
Sims also pointed to the organisation’s own research, which showed 58% of respondents don’t know that cartel conduct is a criminal offence.
“And, amazingly, although 42% of businesses were aware that cartel conduct is now a criminal offence, almost one in 10 of the survey respondents admitted they’d still be likely to join a cartel if the opportunity arose.”
“You will see further high-profile initiatives from the ACCC in this area.”
Sims also put the major banks on notice, saying that under new regulations it will be against the law to disclose prices to competitors in private when it’s not “in the ordinary course of business”.
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/index.php">SmartCompany</a>.
 
 
 
 
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ACCC warns construction industry on cartel behaviour

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Capital city house prices fell by 0.8% in April, according to the latest figures from RP Data and Rismark, leaving property values down by 0.7% compared with the same time last year. 
The disappointing figures offset gains made in February and March and come just a day after the Housing Industry Association revealed the number of new home sales in April fell to its lowest point in nearly 20 years. 
The results also come as the property industry all but begs the Reserve Bank for an interest rate cut when it meets this afternoon. 
The RP Data-Rismark Index showed values fell by 0.8%, although over the quarter values rose by just 0.3%. On a yearly basis, values are down by 0.7%. 
Five of the eight major capital cities saw values fall, with Hobart down 2.9%, Melbourne down 1.7% and Brisbane down 1.3%, while Sydney values fell by 0.3% as well. Darwin recorded the largest increase of 1.6%, while Canberra values rose by 0.2% as well. 
<a target="_blank" href="https://www.propertyobserver.com.au/residential/rp-data-rismark-march-1-daily-index/2012030153640">Over the year</a>, the largest decreases have been in Melbourne, down 7%, along with Brisbane down 6.4%, Hobart down 8.5%, and Adelaide down 4.2%. Sydney values have also fallen by 2.6%, along with Darwin prices, down 1.1%. 
Click to enlarge
<a href="/images/stories/rpmay1.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/rpmay1thumb.gif"></a>
No capital city has seen values increase over the past year. 
RP Data research director Tim Lawless said in a statement the two interest rate cuts in November and December are “yet to provide a sustained stimulus to the market”. 
He points out transaction volumes remain steady at about 31,000 sales each month, compared with the sales rate through 2009 when about 45,000 homes were being sold. “The slowdown in buyer activity becomes quite clear,” he said. 
Rismark managing director Ben Skilbeck also said the stability in the first quarter declined in the last two weeks of April, coinciding with the decision by ANZ to increase interest rates. 
“With inflation figures now behind us, if the Reserve Bank does cut interest rates today and then again in June … home buyers will benefit from considerable affordability gains and the housing market is likely to see improved conditions building off the stability evident in the first quarter.” 
The premium housing market remains weak. Dwelling values in the most expensive 20% of suburbs in the capital cities have fallen by 5.7% in the 12 months to March. The most affordable suburbs, however, have only seen values fall by 2.3%. 
Despite the poor price performance, rents have improved. In capital cities, the weekly rent on a detached house is up by 4.1% over the year to April and unit rents are now up by 3.7%.
This article originally appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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Home prices fall 0.8% in April: RP Data-Rismark

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The Western Australian economy is performing so well it’s leaving the rest of the country behind, according to the latest CommSec report into the states’ economies, although it warns the Australian Capital Territory is at the highest risk from spending cuts in next week’s budget.
The quarterly report into the country’s state-based economies reveals some disturbing trends – the Queensland economy in particular is suffering due to a lack of support for housing, while Tasmania’s economy has experienced the “greatest slippage”.
However, the rest of the country is still performing well, with each state shining in different metrics.
The Western Australian economy is performing so well, CommSec economist Craig James says the country needs to be evaluated in two separate metrics – with Western Australia, and without.
“In the last two quarterly reports, we judged that Australia’s multi-speed economy could more accurately be described as a three-speed economy,” James says.
“But in the latest report the best way to describe the situation is Western Australia first and daylight second.”
Western Australia leads the way on economic growth, construction work, unemployment, retail trade and equipment investment – and second when it comes to population growth.
Dwelling starts and housing finance were the only black spots on WA’s record, out of the eight metrics used to judge each economy. ACT and Victoria were in the “second tier” of economies, with both out-performing housing indicators and Victoria positive on retail spending.
Queensland, New South Wales and South Australia are all in the next “tier”. Queensland is benefiting from restructuring work, while New South Wales is growing strong on population growth.
Tasmania has suffered the worst, lacking momentum in “key areas”, with the state now alongside the Northern Territory, which has strong retail spending but low population growth.
However, there are bright spots. Both Victoria and the ACT are winning when it comes to housing indicators, and Victoria’s retail spending remains high, and Queensland is still enjoying a significant amount of rebuilding work.
<h3>Western Australia</h3>
The state is leading the rest of the country in most metrics. Economic output was just over 32% higher than the state’s decade average, while it’s also taken the top ranking for retail trade with spending in the December quarter almost 21% above decade average levels.
It also remains “well above” other states and territories with equipment investment, and a strong jobless rate of 4%. Construction work is 82% above decade averages, although it’s second for population growth, at 2.63%.
It’s also equal third for housing finance, alongside New South Wales. Dwelling starts were also 15.2% below decade averages.
<h3>Victoria</h3>
Victoria’s jobless rate may be increasing, but its retail trade is 14% above decade averages. And
equipment investment was down by 3.2%.
However, construction activity is increasing, with the state in the second place for housing finance, and dwelling starts 14% above decade averages.
Victoria’s set to hold its spot in the top three despite that slowdown in the housing market, although CommSec says greater investment from public and private sectors could help it maintain momentum.
<h3>ACT</h3>
Economic growth in the ACT is up 18.2%, although retail trade is poor – below all other states. The jobless rate is 3.6%, although that’s actually 5% higher than the normal or decade-average level.
Housing finance commitments are actually strong, however, with the number 6.2% above the decade average, with commitments also 3.3% higher than a year ago. Dwelling starts are also “head and shoulders” above the rest of the states, based on strong population growth – one key area of hope.
<h3>New South Wales</h3>
New South Wales joins the ACT with the weakest retail trade in the country, and economic growth is also poor.
However, there are bright spots. The jobless rate of 5% is below the decade average of 5.3%, and housing finance is also equal third with Western Australia.
<h3>Queensland</h3>
Despite some of Queensland’s economic troubles the state is actually performing extremely well, with economic growth at the fastest rate in the country at 9.8% – even ahead of Western Australia.
Retail trade is also strong, although it comes under Victoria’s level of 14% above decade averages. Equipment investment is up 40%, the population growth is the highest recorded over the past year – although housing finance is down 22%.
Dwelling starts were also down 34.9% below decade averages, and starts in the December quarter were down 12.1% than a year ago – CommSec notes housing is the state’s biggest weakness.
<h3>South Australia</h3>
Retail trade remains strong, alongside Queensland after Victoria at the top, and the jobless rate is actually quite strong at 5.1% – 6.6% below the longer-term average of 5.45%.
However, South Australia remains one of two states where real wages were negative – along with the ACT. Retail spending is up, but only by 0.3%.
The state seems to be performing well with no major negative or positive factors, CommSec says, although that’s due to the relatively low unemployment.
<h3>Northern Territory</h3>
Economic growth has remained weakest in the Northern Territory, alongside New South Wales and Tasmania.
However, retail trade has remained high, in second place, due to low unemployment with just a 4% jobless rate. That’s 9.9% below the long-term average.
And while construction work is above the long-term average, it’s only up by just 0.6%. Engineering work – a driving force for several economies including Queensland and Western Australia – is down by 4.6%. However, CommSec expects that to improve.
Construction work hit a two-year high in the December quarter, and is actually up 43% from last year, which is the fastest rate in the country.
CommSec notes it has the potential to climb its way back up, with the $34 billion LNG Inpex project to have “enormous multiplier effects” on the economy.
<h3>Tasmania</h3>
The island state is performing poorly. Economic growth is the weakest, at negative 1.6%, while retail trade is also at the slowest in the country.
Equipment growth is strong, up 45%, although the jobless rate has risen from 5.1% to 7.2% in the space of just seven months – that’s 18% above the decade-average.
Construction spending is down 12.2% from last year, and population growth is up just 0.55%.
However, there is some good news, with dwelling starts and equipment investment suggesting higher growth in the pipeline.
This article originally appeared on <a href="https://www.smartcompany.com.au/index.php" target="_blank">SmartCompany</a>.
 
 
 
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Western Australia first, daylight second in CommSec “state of the states” report

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The ING Direct financial wellbeing index has improved in this quarter from 105.6 to 106.9, and more people are increasing their savings rate to pay down debt.
However, 24% of households said their income had decreased in the past 12 months.
The number of people looking to start an online business in the next 12 months increased from 1% to 7%, with 6% of people also saying they want to start a business in general, up from the previous result of 2%.
The survey<a target="_blank" href="/news"> also showed that Victorian borrowers were most comfortable with their level of mortgage debt</a>.
ING Direct executive director Rob Hendriks says that although some Australians feel they remain under financial pressure, they are "very clever" at finding ways to make money.
"Australians are very creative in boosting their income. We see an increased effort in selling goods online, taking additional jobs, and especially in New South Wales we see a lot of women entering the workforce."
"People are creative in finding ways to make money, and especially, people are looking for opportunities in online stores."
Hendriks says online stores are attractive, as people can potentially work part-time, without requiring a lot of investment.
He also points out one in 10 households are finding ways to sell household possessions without buying new ones, earning cash through sales. Also, 9% say they sell goods for extra cash, while 8% are doing odd jobs.
The results reveal a positive picture overall, with 46% of households saying they earn more than they did a year ago – and that increases to 55% in Western Australia. 68% of households say they are comfortable about savings – the median rate is $7,500 – although 20% of households have no savings at all.
Hendriks says although there are some downsides, such as 29% of 55-69 year olds having lower incomes than they did last year mostly due to cuts in working hours, the overall picture is good.
"There is some obvious negative news for some direct groups, but I think definitely the picture has improved."
"One in four are facing reduced incomes, yes, but the positive news is that 46% are earning more than they did a year ago."
Hendriks says while the overall economic situation is challenging, consumers are focused on savings and paying down debts.
"That's a mature response, and the overall Australian situation is still positive."
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/">SmartCompany</a>.
 
 
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Australians increasing savings to pay down debt: ING Direct

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Industrial property is on the rise as more online businesses start searching for massive properties to hold inventory, along with a general improvement in market conditions, experts say.

This comes as a new report suggests online book retailer Amazon is searching the east coast for a suitable warehouse that could serve as an Australian base – it comes after several other reports have indicated the retail giant is opening a local warehouse.
Ben Hegerty, an associate director of industrial property at Savills, told SmartCompany this morning he’s “definitely” seeing some improvement in the market connected to eCommerce.
“You look at the reports of Amazon, Catch of the Day doing a big deal last year, and there are others as well.”
Catch of the Day moved into a massive new property last year in Melbourne, as it quickly grew out of its previous warehouse.
Recent research suggests the industrial market is ticking up after a lean few years. <a href="https://www.propertyobserver.com.au/industrial/low-industrial-vacancy-rate-in-melbourne-encouraging-speculative-developments-knight-frank/2012041754327" target="_blank">According to the latest Melbourne analysis by Knight Frank</a>, the amount of industrial space available for rent fell by 16% during the first quarter of the year.
Knight Frank said both prime and secondary buildings in “key locations” were leasing well.
Hegerty suggests at least some of the uptake has to do with the rise in the number of eCommerce stores searching for larger distribution centres.
“Even the cheaper importers such as Sonic, they’re in the market in a big way. It’s pretty simple, in that you have less manufacturing on shore. Goods have to come from somewhere to service a market, and they need to be stored.”
“We’ve seen that affect the market.”
Meanwhile, a new report suggests Amazon is taking more action to buy an Australian warehouse, with representatives travelling to the east coast to scout locations.
According to Fairfax, company officials will be visiting in the next few months to tour properties, or even sign up as a pre-committed tenant.
Amazon is one of the most popular online retail destinations for Australians, who browse to buy cheaper books, DVDs and other retail items. The company’s entry into Australia would allow it to operate a local warehouse, ensuring faster shipping times and lower costs.
It would also pose a threat to bricks and mortar business, as the company deals in a huge number of categories.
Hegerty says any move to Australia would “make sense”.
“They’re popular here… They could cut down on costs.”
This article originally appeared on <a href="https://www.smartcompany.com.au/index.php" target="_blank">SmartCompany</a>.
 
 
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Rise of online business giving industrial property a boost as Amazon eyes local market

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People opening self-managed superannuation funds need to be aware of their legal obligations and requirements, experts have warned, as new statistics from the Australian Taxation Office show a big jump in the number of workers shifting to SMSFs. 
The figures show that between the years 2007 and 2011, the number of self-managed superannuation funds grew by 31%, and more than 29,500 a year were started on average.
"SMSFs are not for everyone," says Peter Burgess, technical director of the Self Managed Super Fund Professionals' Association. "Obviously, everyone needs to have an understanding of their roles and responsibilities in being a trustee."
"So while you do have some flexibility and control, you need to invest a bit more time in managing everything."
The ATO statistics reveal that in the five year period to June 30, 2010, contributions averaged $34.2 billion ever year. Contributions peaked in 2007, and most member contributions were to SMSFs with assets worth between $500,000 and $5 million.
However, total contributions to SMSFs have fallen over the past five years. In fact, SMSF contributions as a proportion of contributions to all funds fell from over 40% in 2007 to 20% in 2010, which is below the level recorded in 2006.
Some Government intervention, including halving concessional contribution caps, has been associated with the decline. But the ATO notes that after the financial crisis, growth returned to an average level.
Statistics also showed there were 8,792 SMSFs that had to lodge Auditor Contravention Reports in the year ending June 30, 2011. That's up by 8% from the previous year, while the number of contraventions rose by 20%.
Burgess says people opening up SMSFs need to be aware of their obligations as opposed to operating a fund from one of the major institutions.
"There are rules that need to be followed, and so while you do get flexibility, you need to be aware of everything that's going on."
"You need to have your fund audited every year, those statements audited every year, and you need to lodge an annual return and keep up the records of your transactions."
Burgess also says anyone opening an SMSF needs to be on top of all the legislative changes, whether they are in effect or pending, as the Government is keen to crack down on any rorting in the system. The industry has already been involved in disputes with the Government this year over the way certain assets are calculated.
The figures show more and more people are opening SMFS for retirement purposes, with about 30% of SMSFs starting pension payments in 2010 being less than two-years-old.
Burgess says this is a surprising indication that more retirees want a greater feeling of control over their finances when they retire.
"People believe they can do it better themselves by taking control of their investments and setting up more flexible options."
"With a market downturn, that sort of shift makes sense. People are turning to self-managed funds in order to draw a retirement income."
"This suggests they see self-managed funds as delivering a more appropriate retirement product solution."
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/index.php">SmartCompany</a>.
 
 
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Surge in number of self-managed super funds sparks warning from experts to stay on top of the legal obligations

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A private equity firm has paid over $133,000 for the homeloan.com.au and homeloancalculator.com.au URLs, in yet another sign the market for URLs is continuing to grow even more important and lucrative.
Both purchases come after a string of expensive purchases in the past year. Woolworths reportedly bought Hardware.com.au for $33,000, while Zoupon turned into Deals.com.au after a $100,000 transaction.
The real estate market for URLs is also heating up, after investmentproperty.com.au sold for $125,000 last year – although a failed bidder criticised the transaction and said it was overvalued.
Aura Capital has confirmed to SmartCompany it spent over $100,000 for homeloan.com.au last week. It also spent $33,000 to buy homeloancalculator.com.au, after the previous owner let the name lapse. This is the second-highest price ever paid for a URL bought after a name lapse.
Aura Capital director Calvin Ng told SmartCompany both purchases were “purely opportunistic”, although the business does have investments in home loan companies and services.
“We haven’t determined the exact strategy for these yet, it’s opportunistic,” he says. “The guy who owned the calculator URL had let it lapse, and so we just snapped it up.”
“Two weeks prior to that we were contacted about the homeloan.com.au URL, and the two URLs together made the transactions more attractive.”
Aura Capital, which has investments in the minerals, insurance and hospitality industries, has dealt with large URL transactions before. In 2007, it spent over $1 million on 1300homeloan.com.au, and was also involved in the sale of electricity.com.au, which sold for about $30,000.
“This space is really heating up,” Ng says. “It’s just becoming more competitive.”
Buying a simple and memorable URL is essential for any successful business. But as so many of them have been scooped up since the late 1990s, buying the most popular website names becomes an expensive proposition.
Some businesses view it as an investment. Last year, Zoupon purchased Deals.com.au for over $100,000, although co-founder Adam Schwab told SmartCompany at the time he felt it was an investment in the business.
Many businesspeople are also finding it lucrative to become individual domain traders, recognising URLs that are likely to become popular and then selling them for a premium.
Ng says about 35,000 people search for “home loan calculator” every month, and about 200,000 search for “home loan” every month, all but guaranteeing high Google rankings for these URLs.
And although he says the exact opportunity for these URLs hasn’t been confirmed yet, it’s an example of how businesses should be paying attention to movements in the URL space if they want to scoop up a bargain.
“This is a very competitive space, and we’re also watching to see what happens.”
This article originally appeared on <a href="https://www.smartcompany.com.au/index.php" target="_blank">SmartCompany</a>.
 
 
 
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Private equity firm spends over $133,000 on homeloan.com.au, homeloancalculator.com.au domain names

Campbelltown, Mandurah, Toowoomba and south-eastern Victoria – The worst 10 postcodes in each state for insolvencies

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.”

Patrick Stafford

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