<html><body>
The Australian hotel sector recorded deals worth nearly $500 million in the first quarter of 2016 and will continue to grow through the year despite the recent strength in the Australian dollar, says new research. 
Appetite for domestic travel will remain firm and the higher dollar will not be enough of a dampener to discourage overseas visitors travelling to Australia, says real estate firm CBRE’s Q1 Australia Hotels MarketView. 
Cairns and the Gold Coast are expected to remain the star performers of the Australian hotel market after double digit growth in revenue per available room (RevPar) for the year to March 31, 2016.
RevPAR was 15.3 percent for Cairns and 11.3 percent for the Gold Coast in the year to March as a result of record international and domestic travel numbers. 
But not all major markets grew at the same pace, with an increasing divergence between the performance between the resource impacted cities of Perth and Darwin, the major business hubs of Sydney and Melbourne, and the outperforming hospitality markets in Queensland, says the report.
“The mining hubs of Perth and Darwin continue to suffer from the downturn, with Darwin being particularly hard hit due to increased supply levels,” said CBRE Hotels’ research manager Benjamin Martin-Henry. 
“Melbourne is in a state of transition, with occupancy rates increasing but average daily rates (ADR) having fallen, resulting in a drop in RevPAR. Sydney is also in a period of transition, with a slight decrease in occupancy results, although this is likely to be temporary as visitor demand remains strong.”
<a href="/images/2016/08/12/Occupancy%20and%20ADR%20change.png" target="_blank">Click to enlarge</a>
 <img src="/images/2016/08/12/Occupancy%20and%20ADR%20change.png" alt="">
 
The report also highlights that Canberra and Hobart have started the year on a positive note, with Hobart benefitting from substantial increases in tourist numbers.
 
However, the country’s key leisure markets in Queensland have been the real standouts.
 
“The Gold Coast and Cairns continue to outperform the rest of the country, posting the highest RevPAR growth rates for any major markets," Martin- Henry said.
 
CBRE Hotels’ Hayley Manvell added that with a lack of new accommodation coming onto the market in both Cairns and the Gold Coast, demand was expected to outstrip supply in the short to medium term.
 
“Investors are likely to be keeping a close eye on these markets and will look to pick up any assets that come up for sale and benefit from the growth in these regions,” Manvell said.
<a href="/images/2016/08/12/Hotel%20sales%20YTD.png" target="_blank">Click to enlarge</a>
 <img src="/images/2016/08/12/Hotel%20sales%20YTD.png" alt="">
 
Overall transaction volumes in 2015 surpassed expectations – and this momentum has carried into 2016, says the research.
 
Major deals included the purchase of the Vibe Hotel, Sydney, by Singapore’s Far East Organisation for $90 million and the Crowne Plaza Terrigal on the NSW Central Coast trading hands for $58 million, being bought by a venture between the Laundy and Karedis families.
<a href="/images/2016/08/12/Key%20deals.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/08/12/Key%20deals.png" alt="">
 
CBRE national director Wayne Bunz said it remained to be seen whether the slowdown in the Chinese economy and recent gains in the Australian dollar would impact overseas buyer interest.
 
However, he noted that CBRE’s latest Asia Pacific Investor Intentions survey had shown that investors were more likely than ever before to purchase hotel assets.
 
“In our 2015 Investors Intentions survey, just 1% of investors indicated they would be purchasing hotel assets that year. Fast forward 12 months and that interest has jumped to 14 percent, with hotels now ranking as the third most sought after asset class behind office and logistics,” Bunz said.
 
“One of the ongoing constraints will be the lack of purchasable stock and, with high levels of competition pushing up already high prices in Sydney and Melbourne, investors are expected to increasingly focus on opportunities in regional areas.”
 
Bunz added that investors still perceived the Australian hotel sector to be a long term growth play and this was underpinning buyers’ willingness to pay premiums to secure high quality assets.
 
“This is compressing investment yields further, with this trend set to continue over the remainder of 2016,” Bunz said.
 
</body></html>

prateek24-ezbwHMbNAk

Buyer appetite to remain strong in Australian hotel market in 2016: CBRE 

<html><body>
 
Clearance rate for commercial auctions improved for the week ending August 5 from the previous week, according to the latest Commercial Market update from CoreLogic RP Data. 
 
Preliminary results show an improving clearance rate over the week ending August 5, at 63.4 percent across 41 results, compared to the previous week when 58.6 percent of the 58 auctions were sold.
 
Over the corresponding week last year, 67.9 percent of the 84 auctions were sold. There were 167 reported auctions over the past four weeks, with 97 successful results. Of these 97 sales, 77 have been reported with a sale price, totalling approximately $207.93 million.
 
<a href="/images/2016/08/12/Clearance-rate.png" target="_blank">Click to enlarge</a>
 <img src="/images/2016/08/12/Clearance-rate.png" alt="">
The table below indicates National Auction Clearance Rate figures.
<a href="/images/2016/08/12/national-auction.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/08/12/national-auction.png" alt=""> 
</body></html>

Clearance rates at commercial auctions up for week ending August 5: CoreLogic RP Data

<html><body>
A corner site with long-term leases to a drive-thru McDonald’s and a 7-Eleven on the Gold Coast Highway at Palm Beach on the Gold Coast is up for sale through Savills.
The retail property was developed in 2001 and is being offered for sale for the first time, according to a media release.  
The 3,011 sqm corner site is at the traffic light controlled intersection of 19th Avenue, the major east-west intersection at Palm Beach and provides exposure to more than 34,000 passing vehicles daily.
The selling agents are Jon Tyson and Michael Harcourt of Savills.
Tyson said both McDonald’s and 7-Eleven have fully occupied the site since it was first developed and are secured on long-term net leases with fixed annual rental increases.
“This is a premium retail investment opportunity with outstanding exposure that is 100% leased to dual national anchor tenants,” said Tyson.
Palm Beach is located on the southern Gold Coast, nearly 14 km south of Surfers Paradise.
The site also has potential for future development, said Harcourt.
“The site is zoned Medium Density Residential under the Gold Coast City Council Plan, which allows for future development up to 29 metres in height.”
The expressions of interest campaign closes on September 14.
</body></html>

Drive into a finger-licking retail investment at Palm Beach, courtesy Savills

<html><body>
In Queensland’s Gladstone, half-a-million can fetch you a well appointed, modern home with a pool or shed on an allotment above 800 square metres and located in an established suburb close to all urban amenities, say valuation firm Herron Todd White. 
Their July 2016 residential market report focuses on properties in the sub $500,000 sector.
Properties in the $500,000 to $600,000 price range are thinly traded in the current market, say HTW. 
“Alternatively you could purchase a couple of modern three-bedroom townhouses (roughly $250,000 each) or several older two-bedroom townhouses (sub $100,000 each),” say HTW.
Half a million is also considered near enough for entry-level rural residential property. This market sector has seen some more significant declines in 2015 after having held its value over the past couple of years.
In line with HTW's assessment, Property Observer found a four-bedroom house with a pool at <a href="https://www.realestate.com.au/property-house-qld-gladstone+central-122612414" target="_blank">3 William Street, Gladstone Central, Qld 4680</a> (above) for $330,000.
<div class="propertyStats"> </div>
</body></html>

Modern home with pool is what $500,000 can buy you in Queensland’s Gladstone: HTW

<html><body>
Melbourne's western and northern suburbs offer range and affordability to first home buyers with a budget of around $500,000, according to valuation firm Herron Todd White's July residential market report which looks at the sub-$500,000 property market.
Western Suburbs
There has been continual demand for land and new houses in the outer south western region of Melbourne. Areas such as Truganina, Tarneit, Wyndham Vale and Werribee are providing first home buyers with relatively affordable properties. In May 2016, RP Data reported the median house sale price in Truganina was $450,000, Tarneit was $410,000, Wyndham Vale $359,500 and Werribee was $352,250. 
"First home buyers with a budget of $500,000 will find these areas highly desirable as $500,000 can buy you a four-bedroom house," says HTW.
Although these suburbs are located between 27 and 36 kilometres from the Melbourne CBD, nearby railway stations provide access to the surrounding suburbs and Melbourne’s CBD. 
Closer to the CBD on the western city fringe, Footscray and Maidstone provide affordable options for first home buyers to enter the market for a budget of $500,000. In May 2016, RP Data reported the median unit sale price in Footscray was $395,000 and Maidstone was $320,000. These areas provide good transport links to the Melbourne CBD and are growing in popularity.
Property Observer found a two-bedroom apartment at <a href="https://www.realestate.com.au/property-apartment-vic-footscray-122811418" target="_blank">6/97 Cowper Street, Footscray, Vic 3011</a> that recently sold for $375,000, a little below the unit median price.
<img src="/images/2016/08/05/footscray.png" alt="">
<div class="propertyStats">
Northern Suburbs
Buying property in the northern suburbs of Melbourne for $500,000 or less depends heavily on proximity to the CBD, say HTW. 
"For detached dwellings in the inner suburbs such as Brunswick, Brunswick East, Northcote and Thornbury, it is almost impossible to buy under $500,000. Apartments on the other hand become more affordable." 
Newly built, one-bedroom, one-bathroom apartments with one car space can be purchased for under $500,000. Apartments in the partly complete Ettaro development (pictured) on Brunswick Road in Brunswick East have been sold off the plan for around the $400,000 mark. The development comprises 400 apartments with a mix of one-, two- and three-bedrooms and offers great common facilities such as a swimming pool, bowling green and outdoor cinema.
Unit median prices: 
• Thornbury - $455,000
• Northcote - $495,000
• Brunswick East - $524,500
• Brunswick - $495,000
Outer northern suburbs such as Broadmeadows, Meadow Heights, Roxburgh Park and Craigieburn offer an array of detached dwellings for under $500,000. The median house prices in these suburbs are all under $500,000, however, the quality of property is generally low.
New housing estates in Craigieburn, Mickleham and Greenvale offer the purchaser the opportunity to own a new house for under $500,000. This is appealing to first home buyers and to purchasers who are searching for more space for their money.
For investors, properties in the outer suburbs could see more growth as new infrastructure such as schools and public transport are constructed. For detached dwellings in the inner north, the entry-level price point is between $600,000 and $700,000. At this price, you can purchase a rundown dwelling on a small parcel of land. 
Property Observer found a two-bedroom unit in <a href="https://www.realestate.com.au/property-apartment-vic-thornbury-123043074" target="_blank">17/25 Martin Street, Thornbury, Vic 3071</a> that recently traded hands for $452,500.
</div>
<img src="/images/2016/08/05/thornbury.png" alt="">
</body></html>

Melbourne's west and north offer wide choices for FHBs under $500,000: HTW

<html><body>
VentureCrowd and property developer Clearstate have raised $1.7 million in their second joint round of crowdfunding for a residential development in Sydney’s south west suburb of Austral.
The fund attracted more than 50 investors. Investors get 49 percent equity with a targeted return of 84 percent, according to a media release.
VentureCrowd's crowdfunding platform allows investors to buy equity into a property development before it is subdivided and sold , while developers such as Clearstate are able to raise equity through this form of alternative financing.
The two companies’ inaugural Riverstone development deal in Sydney raised almost $1 million in four hours.
The 2.4-hectare site in Austral will be sub-divided into 44 residential lots.
Clearstate is developing eight subdivision projects across the Western Sydney growth corridors and North West Melbourne, offering land for owner occupiers and investors.
Land parcels range from 260 sqm to 1,300 sqm, averaging 450 sqm per lot.
Lachlan Cameron, commercial director of Clearstate, said working with such a specialised platform provides access to a broad range of interested parties and allows us to put our development projects in the hands of the people who really want to invest in them.
Among the more than 50 investors in the Austral site is former Credit Suisse advisor Mitchell Hopwood, who invested through his self-managed superannuation portfolio as an alternative to a listed property fund.
“The Austral opportunity provided a relatively high, short-term return in a bite-size, easily understandable transaction that is fairly derisked from an investment perspective," he said.
</body></html>

VentureCrowd and Clearstate raise $1.7 million in property crowdfunding deal

<html><body>
In NSW North Coast, there's little change from 12 months ago in terms of what one can score in property with a lazy half a million, according to valuation firm Herron Todd White's July 2016 residential market report on homes in the sub-$500,000 range.
The product mix may have varied slightly, particularly in the more regional areas within the Richmond Valley and Kyogle Council areas.
"In a lot of ways it resembles a typical poker hand," say HTW. For example, consider the five of a kind:
• Five $100,000 (or less) vacant steep timber 40 hectare bush blocks in the rural localities of Drake or Tabulam; or
• Five $100,000 standard vacant residential blocks in Casino or Kyogle. Relatively flat but may ask slightly more than $100,000 individually, so a package deal of say five at the nice round figure of $100,000 each would be hard for a vendor to pass up in the current subdued market.
"Alternatively, secure a nice three- to four-bedroom, two-bathroom house with a garage for around $300,000 to $350,000 and throw in another vacant residential block at $100,000 to $120,000."
There are not too many residential properties within Casino or Kyogle that would use up the whole $500,000 in one transaction, however, those that do usually deliver the full quota of features from air-conditioning, good quality appointments, pool, established landscaping or full renovation of an older style character home.
For those inclined towards a more rural residential setting, there are opportunities to use a substantial part of the $500,000 to acquire established properties of modern four-bedroom, two-bathroom homes with double garages in close proximity to the town centres of Casino and Kyogle.
Typically, such properties would comprise lots ranging in size from 4,000 square metres to five hectares. Semi-remote rural localities with properties on lots from 40 hectares to 100 hectares may still be purchased under $500,000 and provide semi-modern homes with established ancillary improvements, however, distance and maintenance of the land are factors that any potential purchaser must consider.
"Within Lismore city, the lazy half million is somewhat more restricted in its purchasing power, however, opportunities are still available. Good quality level vacant residential lots are around the $200,000 mark in the new, developing residential estates, so buy two and possibly use the remaining $100,000 as a $50,000 deposit for a house to be built on each of the lots, or purchase one of the steeper vacant blocks for around $100,000 (just keep in mind that your building costs will rise significantly)."
It should be relatively easy to find two residential house properties for around $250,000 each, however, they are likely to be located in a flood prone area, need some cosmetic attention or front a busy road.
There are a number of two-bedroom, one-bathroom, brick and tile residential units with single carports available within reasonable proximity of shopping and educational facilities in Lismore city which have an expected price range of $130,000 to $170,000 and attract a rent of around $175 to $200 per week.
Failing that, and if you so wish, $500,000 would go a long way to fully or near fully acquire or brand new four- or five-bedroom, two-bathroom, double garage residence in the modern residential estates of Goonellabah or Lismore Heights (where most of the new build action is) with pool and established landscaping.
The rental assessments can vary widely depending on features, but expect something in the order of $450 plus per week.
"At present, even with the record low interest rate levels, the future of any significant price improvement is not generally clear or warranted as there is still the overriding climate of that old age concern....is my job secure?” say HTW. "Therefore, don’t expect any significant rapid sales activity any time soon."
Property Observer tracked down a three-bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-lismore-113095571" target="_blank">36 Keen Street, Lismore, NSW 2480</a> that sold recently for $252,000, leaving another $250,000 to invest as HTW suggests.
<div class="propertyStats">
<img src="/images/2016/08/05/lismore.png" alt=""> </div>
The Clarence Valley
Further to the south in Yamba, $500,000 does not get you as close to the beach as it did 12 months ago where the June 2015 entry point was for a circa 1980s canal home or an older circa 1950s dwelling close to the beach.
Entry point now is in a modern four-bedroom, two-bathroom modern dwelling in Yamba’s residential estates located west of Yamba town centre. However, a three-bedroom, two-bathroom strata townhouse complex by the beachside is still within reach and includes resort facilities and holiday rental income.
In Yamba, the $500,000 and above market is driven by steady interest from the capital cities due to the town’s good proximity to proposed large infrastructure developments such as the Pacific Highway. In the region surrounding Grafton, $500,000 is considered to be in the premium residential range and has stayed pretty steady in comparison to 12 months ago. Properties may include large residential grazing cattle farms of over 50 hectares to modern quality built residential dwellings on acreage parcels close to Grafton.
Byron Bay/Lennox Head/Ocean Shores
There is little that can be purchased in or around Byron Bay or Lennox Head for a lazy half million and your money will take you only as far as a basic two- or three-bedroom townhouse or villa located just west of Byron Bay township in the Sunrise Estate.
Lennox Head has even less to offer and you would be lucky to see a duplex unit on the market for around $500,000. Buyers around Byron Bay and Lennox Head will almost need a lazy $700,000 to enter the market. A lazy half million will be easier to spend in Ocean Shores where a semi-modern to modern three-bedroom house can be purchased around the $500,000 mark. There has been relatively little change in the past 12 months in Ocean Shores.
Property Observer found a two-bedroom, two bathroom house at <a href="https://www.realestate.com.au/property-unit-nsw-byron+bay-122352434" target="_blank">5/20 Sunrise Boulevard, Byron Bay, NSW 2481</a> recently sold for $457,500.
<img src="/images/2016/08/05/byronbay.png" alt="">
<div class="propertyStats">Ballina/Alstonville</div>
The options of what $500,000 can get you are somewhat limited and more so than 12 months ago. Finding a house in West Ballina or Ballina Island is becoming more difficult and similar to 12 months ago, you will need to settle for a circa 1970 to 1990 two- or three-bedroom unit if you wish to be close to the beach. There are still opportunities to purchase a house in Alstonville or Wollongbar around the $500,000 mark.
The other alternative is to purchase land in an Alstonville or Wollongbar residential estate and build a project home. This can still be done in Ballina (Ferngrove and River Oaks Estate) and Cumbalum (Ballina Heights), however, a basic project home is really all you will get for your lazy half million.
</body></html>

NSW North Coast "resembles a poker hand" in the sub-$500,000 property market: HTW

<html><body>
Demand for property continues to be strong in Melbourne's industrial precinct of Dandenong, highlighted by a recent off-market deal.
A property spread over 1,640 sqm at 49 Kitchen Road in Dandenong South was recently bought by a private occupier for an undisclosed amount.
It has a rear hardstand, a triple interceptor and truck access.
The deal was brokered by CBRE’s James Jorgensen and Josh Fitt on behalf of Radley Hall Pty Ltd and Damtrean Pty Ltd.
“The buyer made an offer within 24 hours of inspecting the property. This prompt action ensured the property didn’t make it to the open market and the buyer was able to secure the facility which will fulfil their growing operations,” said Jorgensen.
</body></html>

Industrial site sold to private occupier in Melbourne's Dandenong

<html><body>
Leasing activity in the Brisbane CBD office market grew nearly 30 percent in the 12 months to June 2016, and the CBD now comprises around 2.27 million square metres of lettable space, according to Savills research.
Two new prime grade office buildings (180 Brisbane and 480 Queen St) were added to the stock recently.
Of the total lettable space, Premium Grade accounts for around 11 percent of office space. A Grade quality offers 41 percent of space and is now the largest category, while B Grade accounts for 36 percent. C and D Grades offer the balance 13 percent.
Savills' CBD Office Market Briefing for the second quarter of 2016 has identified 117,437 square metres of leasing activity (&gt; 500 sq m) in the Brisbane CBD in the 12 months to June 2016, up 27 per cent from a year earlier but down on the five year average (123,357 square metres). The majority of these leases (nearly 60 per cent of space leased) were in the Uptown precinct.
The Brisbane CBD office leasing market looks to have turned a corner with 2016 showing encouraging signs of improved tenant demand. Competitive rents and incentive packages on offer are continuing to attract smaller businesses from the Fringe and Suburban precincts of metropolitan Brisbane.
The Queensland State Government has been quite active in the take up of space in the CBD, which is boosting overall business confidence. With 1 William Street nearing completion some government agencies have started to review their space requirements and taking up addtional space around the CBD.
Overall leasing activity in the Brisbane CBD is trending upwards with direct leases almost double that recorded 12 months ago. Of the 117,437 square metres of leased space, 86 per cent were direct leases, followed by sublease deals accounting for 7 per cent for the year ending June 2016.
Renewals accounted for 6,150 square metres or 5 percent of reported leases for the year.
The competitive rental environment continues to see increased demand for A Grade stock, while secondary stock also continues to attract tenants with a number undergoing refurbishments improving the overall amenity the building. 127 Creek Street is one such example of a B Grade building that has undergone a major refurbishment which included transforming full floors into small suites to accommodate demand from smaller businesses moving to the CBD.
<a href="/images/2016/08/05/BrisbaneCBD.png" target="_blank">Click to enlarge</a>
 <img src="/images/2016/08/05/BrisbaneCBD.png" alt="">
While Deloitte’s predict soft employment growth over 2016, tenant demand from businesses relocating to the CBD will likely contribute to absorption levels.
Latest figures on total absorption will not be available until the Property Council release their Office Market Report in August however Savills Prime Full Floor availability report suggests approximately 32,000 square metres of prime office space has been filled since the start of 2016.
Demand for office space continues to come from varied sources such as child care, health, education and incubator businesses as well as an expanding State Government.
Of the 118,937 square metres leased in Brisbane CBD (&gt;500 sq m) in the last 12 months, the ‘Government &amp; Community’ sector was the dominant sector, leasing 26 percent of the stock, or 31,170 square metres.
<a href="/images/2016/08/05/BrisbaneCBDchart.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/08/05/BrisbaneCBDchart.png" alt="">
Compared to 12 months ago, the tenant profile of reported leases has changed. The ‘Government &amp; Community’ sector, which has typically held a large share of the market, businesses involved in the ‘Education &amp; Training’, and ‘Healthcare’ sectors are increasing their take up of space in the CBD, while the ‘IT &amp; Communications’ sector is also beginning to show increased activity.
The largest number of transactions however was in the ‘Property &amp; Business services’ sector which recorded 21 transactions.
Of the 31,170 square metres of space leased to the ‘Govt &amp; Community’ sector, 55 per cent was taken by the Queensland State Government.
‘IT &amp; Communication’ recorded 14,242 square metres of leased space for the 12 months ending June. At 12 per cent of total reported leases, this is the highest level of activity in over ten years. Historically, this sector has accounted for less than five per cent of office leasing activity in the Brisbane CBD. SMS Management &amp; Technology are one such firm who secured 1,230 square metres in 259 Queen Street, while Red Hat renewed their space over four levels in 193 North Quay.
</body></html>

Brisbane CBD office leasing market turns corner, tenant demand improves: Savills

<html><body>
Property on the Fraser Coast represents excellent value for money if you should have a lazy $500,000 lying around, according to valuation firm Herron Todd White's July 2016 residential market report which analyses the half-a-million dollar market.
Depending on buyer preferences, $500,000 can buy an executive four-bedroom, two-bathroom home with pool and shed on 2,000 square metres in Hervey Bay or perhaps a high rise, top to upper floor unit (circa 2007) with ocean views along the Esplanade. Units have significantly reduced in value since the GFC within most large developments, with a recent sale reflecting a 45% reduction since purchase in 2006.
Rural residential properties in Oakhurst and Tinana near Maryborough are reasonable buying, with most selling between $350,000 and $500,000, with little activity over this price point.
If uninterrupted ocean views are a priority, property in River Heads might be a consideration with a wide range of homes to choose from, particularly within the Turtle Cove Estate on the fringe.
"Most agents in the local area have reported that they have adequate buyers for property at the present time, however struggle to sustain a good volume of listings," says the HTW report.
"In conclusion, there is some terrific buying across most sectors with prices remaining stable and this is not expected to change in the short term."
Property Observer found a three-bedroom house with ocean views at <a href="https://www.realestate.com.au/property-house-qld-river+heads-122686310" target="_blank">46 Turnstone Blvd, River Heads, Qld 4655</a> (above) which recently traded hands for $365,000. 
The median price of houses in River Heads was $342,500, according to CoreLogic RP Data.
</body></html>

Lazy half-million can buy ocean view homes in Queensland's Hervey Bay 

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]

Joel Robinson

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.”

Mortgage relief? NAB forecasts RBA rate cut, not hike, after softer economic conditions

A local downsizer has splashed $6.5 million on a penthouse in Perifa's Alex &amp; Willow development in Crows Nest. 
&nbsp; 
The purchaser sold their long-held family home in the area before embarking on a six-month search for the right apartment. After inspecting a range of options across the Lower North Shore, the buyer returned to <a href="https://www.apartments.com.au/new-apartments/alex-willow-crows-nest-82-90-alexander-street-crows-nest-nsw-2065">Alex &amp; Willow</a>. 
&nbsp; 
The buyer profile reflects the project’s broader purchaser mix. <a>Alex &amp; Willow</a> has attracted predominantly local downsizers looking to transition from larger homes without compromising on space or quality, alongside a smaller cohort of upsizers and investors drawn to the project’s location and design credentials. 
&nbsp; 
The milestone sale comes as the project, developed by&nbsp;<a href="https://www.apartments.com.au/developers/perifa">Perifa</a>&nbsp;and delivered by <a href="https://www.apartments.com.au/builders/versatile-made-construction">Versatile Construction</a>, both part of Versatile Group, reaches 60 per cent sold.

[smartcode_project:default project_id=6680 project_image_fid=371325] 
&nbsp; 
Eddie Mansour, Managing Partner of <a href="https://www.apartments.com.au/project-marketer/ray-white-projects">Ray White Projects</a>, said the result demonstrates not only a headline price but also depth of demand. 
&nbsp; 
“This is an exceptional outcome and a clear reflection of sustained buyer demand for premium, well-located downsizer product,” Mansour said.

“We’re seeing a consistent pattern of local homeowners selling family residences and reinvesting into high-quality apartments that allow them to remain within their community. Alex &amp; Willow has resonated strongly with this group because it offers genuine scale, thoughtful design and immediate proximity to the village.” 
&nbsp; 
The sale reflects a broader and consistent trend of local downsizers actively seeking high-quality, low-maintenance residences close to established village centres. Agents report that demand for this product type has remained resilient, particularly where developments offer a rare combination of scale, design quality and walkable amenity. 
&nbsp;&nbsp; 
Fabrizio Perilli, Managing Director of Perifa and Versatile Group, said the sale marks a defining moment for the project. 
&nbsp; 
“The penthouse sale is a strong endorsement of the quality we have delivered, alongside our partners, and the clear demand from local downsizers for premium, boutique residences in this location,” Perilli said.&nbsp; 
&nbsp; 
“Most importantly, we’re proud to see the Alex &amp; Willow community beginning to take shape. As we move closer to completion, we’re looking forward to welcoming residents and seeing the project come to life.”&nbsp;

[smartcode_project:default project_id=6680 project_image_fid=338516] 
&nbsp; 
Designed by <a href="https://www.apartments.com.au/architects/nettletontribe">Nettleton Tribe</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/richards-stanisich">Richards Stanisich</a>, Alex &amp; Willow is a boutique collection of generously sized two- and three-bedroom residences in the heart of Crows Nest village.&nbsp;

Completion is slated for early 2027.

[smartcode_project_cta:default project_id=6680]

Alex & Willow, Crows Nest penthouse sells off the plan for $6.5 million

Fresh from launching the first stage of its Wollongong precinct, <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place</a>, builder-developer Urban Property Group has unveiled plans for the next phase of the masterplanned community.

Now on public exhibition through the NSW Government's Housing Delivery Authority pathway is a State Significant Development Application for a further 657 homes on the prominent gateway site opposite Beaton Park.

The proposal comprises three buildings, including two build-to-sell towers rising 25 and 30 storeys, delivering 391 apartments, alongside a 12-storey co-living building with 266 residences, making it one of the largest co-living proposals currently planned in regional New South Wales.

Of the apartments proposed in the build-to-sell towers, the majority, 310, are two-bedroom dwellings. The balance comprises 44 one-bedroom apartments and 37 three-bedroom residences. Apartment sizes range from around 50 sqm for one-bedroom homes to approximately 90 sqm for three-bedroom apartments.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="19347059-1612-41a0-9c74-b86a657237f8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%2010.02.18%E2%80%AFAM.png?VersionId=sWXnaCcA.cIC6N8YT1dg5pJ2e1V3Z6z7" />

The submission says the proposal has evolved significantly from its original Housing Delivery Authority application following extensive consultation with the State Design Review Panel and Wollongong City Council.

The final scheme has been designed to align with the emerging vision for the Flinders Street Precinct, an area identified by Council as a future high-density mixed-use neighbourhood capable of accommodating substantial housing growth close to transport, employment and community infrastructure.

According to the design report prepared by COX Architecture, the development aims to "deliver a built outcome consistent with the future character of the Wollongong CBD while responding to the site's unique constraints and opportunities."

"Our vision for the next phase of the site evolution in Wollongong is grounded in three design pillars that guide the design response: place, natural environment and celebration," COX said.

"Inspired by its surroundings and grounded in the stories of place on Wodi Wodi Country, the design proposal acknowledges the established character of its setting while creating a unique and timeless identity that sits harmoniously within it.

"The design proposal responds to its specific site conditions, acknowledging the vegetation, climate, wind conditions and solar access of the site."

The architecture responds directly to the site's position between Wollongong's urban core and its natural landscape setting.

COX identified views towards Mount Keira and the Illawarra Escarpment as defining features of the site, while the upper levels of the towers will also capture expansive views across the city and out to the Pacific Ocean.

The design team has positioned the tallest buildings closer to the rail corridor, where overshadowing impacts can be better managed while establishing a landmark built form on the northern approach into the city.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="79580d5b-500c-4ebf-9629-797146a4a694" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%209.51.59%E2%80%AFAM.png?VersionId=WbTB1EKSG.KDfsfz0F3wp1QVa2oCMGR5" />

Urban Property Group secured the 11,000 sqm Smith Street site in 2022 and has since progressed plans for the broader Keira Place precinct.

Construction recently commenced on the first stage of Keira Place, which will deliver 150 apartments across two residential buildings, including 27 affordable housing apartments and 18 specialist disability accommodation dwellings, alongside activated ground-floor retail and commercial space.

Urban Co-CEO Patrick Elias said the commencement of construction marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/groundbreaking-marks-start-of-construction-at-keira-place-in-wollongong-cbd">Groundbreaking marks start of construction at Keira Place in Wollongong CBD</a>

&nbsp;

&nbsp;

&nbsp;

Prateek Chatterjee

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News