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ASX-listed Spirit Telecom Limited said it has launched its superfast Internet product Spirit 400 in Melbourne apartment development Freshwater Place, a first in Australia.
With 240 of the 530 apartments already Spirit customers with access to plans of up to 100/100Mbps, the Internet service provider has now upgraded the speed to include both the 200/200Mbps and the superfast 400/400Mbps plans.
Situated on the banks of the Yarra River, opposite the Melbourne CBD, Freshwater Place includes both residential and short-stay accommodation.
Managing director of Spirit Telecom, Geoff Neate, said, “Freshwater Place was one of our first residential buildings to have our Ultra-Fast ‘UFI’ product, back in 2013. They were at the forefront then and they have now been upgraded to enable us to launch a 400/400 product, leapfrogging the market yet again."
Spirit specialises in fibre-based broadband services.
“Since we first enabled Freshwater we have seen the market's appetite for superfast Internet surge, with the growth of phones and tablets streaming music video and catch-up TV to multiple devices at any given time.
“Trends around the world tell us that people want more from their Internet. For example, countries like Japan offer speeds up to 2Gbps," he said.
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Melbourne apartment complex upgrades to superfast Spirit Internet

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A 'small footprint' residential development in Melbourne's inner city suburb of Clifton Hill has notched up brisk sales at registration day, with 53 of 65 available apartments and townhouses sold.
Developed by Wulff Projects, Icon Co. and Assemble, 122 Roseneath St. took a different approach to building in that it sought feedback from prospective buyers at various stages of design prior to construction.
The developers wanted a chance to communicate the social and environmental values that underpin the project, according to a media release.
A high proportion, 96 percent, of buyers at 122 Roseneath St. are owner-occupiers. The developers estimate that 40 percent of all purchasers were first-home buyers, and that 38 percent came from Clifton Hill or surrounding suburbs.
The proportion of first home buyers reflects the affordability of the project, where the median house price is $1.161 million (Domain), claims the media release.
Selling agent Roland Paterson of Nelson Alexander said it was unprecedented for an off-the-plan project.
“Selling almost all the available dwellings is an unprecedented result for an off-the-plan development that has attracted 96 per cent local owner-occupiers,” he said.
All three directors of project architect Assemble – Quino Holland, Ben Keck and Pino Demaio – purchased a home at 122 Roseneath St.
“The participation and feedback throughout the design presentations allowed us to tailor the design and give buyers the confidence to commit to the project,” says Adam Wulff, director of Wulff Projects.
The consultations and feedback led to a communal room, a communal laundry and the provision of an embedded energy network.
Melina Chan, who works in community development, says she has invested in 122 Roseneath St because she couldn’t find anything else in Melbourne quite like it.
Chan says she was looking for a development that prioritised “the wellbeing of the planet” and medium-density housing that minimises travel to places of employment and cultural amenities.
For Marion Arnott, who has three school-going sons, it was a townhouse with a rooftop deck and outdoor area. Arnott says 122 Roseneath St. was an affordable option.
Downsizers Pam and Ray Walford said they were attracted to the aspects of small-footprint living at 122 Roseneath St.
“The location is closer to where our two sons live than where we presently live, and close to major bicycle trails,” Ray Walford says. The Walfords have purchased a two-bedroom apartment.
There are still 10 homes available at 122 Roseneath St, including two one-bedroom apartments and eight townhouses.
In fact, seven of the development partners have bought homes at 122 Roseneath St.
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'Small footprint' project in Melbourne notches brisk sales

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In the Mount Gambier area in the south east of South Australia, $500,000 provides an opportunity to purchase a property within most areas, say valuation firm Herron Todd White in their July 2016 residential market report.
Few dwellings sell for more than $500,000 and demand for property tends to reduce significantly when the market value is greater than $500,000. Properties in this market range typically are owner occupied and are not transferred on the market often, with only eight sales occurring since the beginning of 2015.
"When compared to other regional areas and cities, $500,000 in Mount Gambier is good value for money. This figure will generally get you a modern four-bedroom, two-bathroom residential dwelling situated on a large allotment, similar to the property below," write HTW in their report. 
A property such as the one below at 14 Buffalo Cresent will provide a good quality fit-out with above average fixtures and features.
<img src="/images/2016/04/Mt%20Gambier-first.png" alt=""> 
A 2016, four-bedroom, two-bathroom modern dwelling on an 837 square metre allotment located in a modern residential division with good quality houses surrounding it.
At $500,000 the best performing property is typically a centrally located character dwelling situated on a generous size allotment, similar to the recent sale below. These properties are tightly held and few transact on the market each year.
<img src="/images/2016/07/18/Mt%20Gambier-2nd.png" alt="">
A circa 1925, four-bedroom, two-bathroom, renovated character dwelling on a 1,161 square metre allotment, located in a sought after area surrounded by similar quality homes.
The price point of $500,000 for an investment property in Mount Gambier is quite high. In that particular price bracket an investor could purchase just about anywhere in town and get a rental return of approximately $400 a week for a 3- to 4-bedroom dwelling. There is a price limit that properties tend to be rented for, which does limit the return that can be achieved from higher value properties.
"In our opinion, the money would be best used to purchase two modern residential units which are centrally located within the town as opposed to a house. Most modern residential units sell for between $200,000 and $300,000 and they would generate a rental return of approximately $250 to $300 each per week, which provides a greater percentage return then if an investor were to purchase only one higher valued dwelling."
Outside Mount Gambier, an investment property may be a modern dwelling on the coast which could also be rented out as short term holiday accommodation. Houses that have sold around $500,000 in coastal towns within the region generally include coastal views.
 <img src="/images/2016/07/19/Mt%20Gambier-new.png" alt="">
A 2009, 4-bedroom, 2-bathroom two storey dwelling on a 645 square metre allotment, located on the beach front esplanade and surrounded by good quality houses.
<img src="/images/2016/07/19/Mt%20Gambier-new2.png" alt="">
A circa 1970, 3-bedroom, 2-bathroom two storey dwelling on a 1,043 square metre allotment, located on the Esplanade with good ocean views. As seen in the graph below, not many units reach higher than $350,000. The most common price range for a unit in Mount Gambier is $150,000 to $199,000 and most modern units generally range between $200,000 and $300,000.
<img src="/images/2016/07/19/Mt%20Gambier-graphic.png" alt="">
"With a price point of $500,000 there is likely to be little growth within the next few years. The region has seen little growth in recent years and that trend is likely to continue until significant employment and population growth is seen in the area. This price would generate a good rental return however the value of the property is unlikely to increase in the short term," HTW concludes.
 
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Mount Gambier in SA offers better property value for $500,000 than other regional areas: HTW 

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A Woolworths-anchored shopping centre in Queensland's Logan City has been snapped up for $38.25 million by an Asian investor, while another in Brisbane's Banyo is up for sale.
The newly developed Woolworths Cornubia is 30 km south-east of the Brisbane CBD and 45 km north-west of the Gold Coast.
The deal translated to a net yield of 6 percent.
CBRE’s Peter Rossi and Michael Hedger brokered the deal, which was settled through an expressions of interest campaign.
“In the current market conditions, there has been a flight to quality for retail assets,” Rossi said.
“New Coles and Woolworths centres are being well received and are achieving tight yields at or better than 6%.”
The property comprises the new 5,309 sqm neighbourhood shopping centre along with a 1,393 sqm medical/professional centre. Woolworths is the anchor tenant, alongside 13 retail tenancies, with the adjoining complex comprising a major medical centre/pharmacy and four professional suites.
Woolworths accounts for circa 55% of the income stream.
The centre was acquired by an investor with existing retail interests in Brisbane.
The transaction follows another Woolworths’ sale in South East Queensland's Everton Park. The Woolworths and Masters centre was acquired for $70 million by Singaporean real estate investment managers Rockworth Capital Partners.
The next test of Queensland's retail market involves another Woolworths-anchored shopping centre in Banyo.
<img src="/images/2016/07/22/woolies-2nd-small.jpg" alt="" width="641" height="427">
The site was acquired from Woolworths by building company Adco, which then developed the neighbourhood centre based on a 20-year lease to the supermarket giant.
The sale campaign is through CBRE’s Joe Tynan and Justin Dowers.
The centre offers a fully leased net annual rental of circa $2.07 million.
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Woolworths centre in Queensland's Logan City snapped up for $38.25 million by Asian investor

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The median sale price in Perth has decreased from $550,000 in July 2015 to $530,000 at present, hence the lazy half million dollars goes a little bit further than it did 12 months earlier, say valuation firm Herron Todd White in their July 2016 residential market report.
"Given the subdued nature of the residential property market, there are many areas with good growth prospects where you will get change out of your half a million, or enter into highly desirable suburbs that were previously out of reach," says the report.
From an investment point of view, the suburbs of Armadale and Kelmscott stand out. These areas saw a flurry of demand from investors several years ago and rents remain quite solid. The volume of new product under development has declined significantly, while the population of the area continues to grow due to being more affordable than other areas closer to the CBD. Hence a villa with three-bedrooms and two-bathrooms which could have cost $330,000 three years ago, is now able to be purchased well below $300,000, while still achieving a rental of $330 per week.
For those of you who are good with a hammer and a paint brush, areas such as Greenwood and Kingsley in the northern suburbs are ripe for the picking. In these areas just 18 kilometres from the Perth CBD, the lazy half a million will snap up a 735 square metre block with a 1970s 3-bedroom house thrown in for good measure, while just a good stone’s throw away, 424 square metre blocks are currently being advertised for $429,000. The area is very popular with families, has arterial transport links on both sides and is only five kilometres from the coast.
Similarly, suburbs such as Ferndale, located just 14 kilometres from the Perth CBD offer 700 square metre allotments with circa 1970 built dwellings for well under $500,000; in fact the median sale price has decreased by some 6.8% over the previous 12 months to $468,000.
Several prominent schools are located in nearby suburbs and the Carousel Shopping Centre in neighbouring Cannington is set to undertake an expansion of some 50,000 square metres of retail space to claim the crown of the largest shopping centre complex in Perth.
In the apartment market, things are a little harder to interpret. Developer asking prices are often very different to contract prices and many re-sales are occurring well below purchase prices from two or three years ago. However, this may provide an opportunity for first home buyers to find well priced, well located apartments that have been overlooked by a somewhat dismissive or lacklustre investor-driven sector. Many opportunities are available in the Perth CBD, with 2-bedroom 2-bathroom apartments available well below $500,000 and one-bedroom apartments available well below $400,000.
"When we discussed where we would spend our lazy half a million twelve months ago, we decided the best bet was to sit on our hands and wait for the market to adjust to the rapidly declining confidence in the residential market.
"We are somewhat happy to say that our advice was sound and comparatively the lazy half a million goes a fair bit further today. We consider that the market is nearing the bottom end of the cycle and the challenge now is whether to try to pick the bottom of the market or simply to take advantage of the incredibly competitive cost of borrowing currently available," write HTW.
"Either way, for the astute investor, we think it’s getting very close to decision making time.
"Will the market continue to trend south or are the positives starting to outweigh the negatives? The big unknown at the time of writing is the market reaction to Brexit and how such a proposal will affect local consumer confidence. I guess we’ll be able to judge that in 2017!"
Property Observer found a recently sold three-bedroom house at <a href="https://www.realestate.com.au/property-house-wa-armadale-122241722" target="_blank">3/40 Dale Road, Armadale, WA 6112</a> for $279,000.
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With falling median property prices, Perth offers more bang for buck for $500,000: HTW 

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The residential market in Melbourne and inner eastern suburbs has remained steady over the 2015/16 financial year, however, recent restrictions on money leaving China and foreign investors borrowing in Australia has created some uncertainty, according to valuation firm Herron Todd White's July 2016 residential market report.
CBD, City Fringe and Inner to Middle Eastern suburbs
With some banks stopping lending to foreign borrowers, the apartment market has begun to flatten and there are concerns about oversupply with an excess of 10,000 apartments to be completed within the city of Melbourne in 2016/17, it says.
The report explores what a first home buyer or investor can buy for half-a-million dollars.
"$500,000 will not buy you a lot of housing within the CBD or the inner east, however, there are some options. $500,000 in the Melbourne CBD can get you a two-bedroom one-bathroom apartment with a car space," says HTW.
A little further out in the city fringe, you can comfortably get a one-bedroom one-bathroom apartment with a car space for under $500,000. Further out, for under $600,000 you can get a good sized two to three-bedroom unit in Box Hill or Blackburn in Melbourne’s middle east.
"We have been unable to find a single sale of a detached dwelling in the Inner to middle east under $500,000. It is unlikely that these types of properties will still be available at this price point in the short to medium term."
A rental return between 4 percent and 5 percent is likely for CBD and between 3% and 4 percent in the inner to middle eastern suburbs.
As an example of a recent sale in the sub-$500,000 range, a one-bedroom apartment (picture below) at <a href="https://www.realestate.com.au/property-apartment-vic-melbourne-120871301" target="_blank">1710/83 Queens Road Melbourne</a> sold for $475,000. 
<img src="/images/HTW-Melb.png" alt=""> 
 
 
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Inner city Melbourne doesn't offer much in $500,000 property range: HTW

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What can you get for $500,000 in Sydney when the median dwelling price is at $782,000 (CoreLogic, May 2016) with a 13.1 percent positive increase in year on year values?
According to property valuation firm Herron Todd White’s residential market report for July, if you have an open mind and are willing to compromise on at least one of the factors of floor space, distance to CBD or age of improvements, there are options throughout the greater metropolitan area. 
North Sydney 
In the northern suburbs of Sydney, $500,000 doesn’t buy you much at all. With that threshold limit, compared with the CoreLogic unit median price of $662,000, you have the options of a semi-modern one-bedroom unit with one car space in Waitara, a 1970s one-bedroom unit with one car space in Lane Cove, or if there is some stretch available, a smaller semi modern studio in St Leonards without a car space. Further up towards the beaches you can still only just get a 1-bedroom unit but the closer you get to the city, the more likely you’ll have to contend with an older complex, dated inclusions, main road frontage and no car parking. 
This price bracket is generally made up of investors and first home buyers, both of which are sensitive to price and interest rate movements. The current cash rate as at June on hold at 1.75% may impact the market but we believe current regulations on investment loans will play a larger role in how this market performs overall.
As an illustration, Property Observer found a one-bedroom unit at <a href="https://www.realestate.com.au/property-apartment-nsw-waitara-121952018" target="_blank">2402/32 Orara Street Waitara NSW 2077</a> that sold for $490,000.
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For $500,000, you can still buy a one-bedroom unit in northern Sydney: HTW 

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The south-west property market over the past 12 months has seen the opportunities to buy into the market for sub-$500,000 diminish, according to property valuation firm Herron Todd White’s residential market report for July. 
The Fairfield sub-$500,000 market is now predominantly made up of dated 1960s and 1970s low rise two-bedroom, one-bathroom units, many requiring refurbishment or works to common property. 
Rarely available are units in modern developments and at this price point, a 2000s built two-bedroom, 1/2-bathroom unit in a large high rise complex may be available but the limited access to sunlight and privacy from the balcony will need to be considered. 
The Liverpool sub-$500,000 market is mainly focused on the unit market which is centred on the CBD of this regional town. This is by far the best performing unit market for both quality of product and city centre location within the south west region. If you look towards the future, the Liverpool city hub will be the central focus point for living, working and entertainment in the south west region with the ease of access to the shopping centre, train station and schools major attractions for both owner occupiers and tenants. 
This time 12 months ago we spoke about the potential to enter the sub-$500,000 in suburbs such as Ashcroft, Busby, Miller and Cartwright. In the past six months this market has quickly evaporated. 
There is minimal evidence of such sales now and if they do appear, they are mainly near land value with the improvements usually presented in very poor condition and in need of a considerable amount of capital outlay to occupy. 
Further afield, Campbelltown, some 55 kilometres from the CBD, still offers plenty of opportunities to enter the sub-$500,000 for both dwellings and units. Suburbs such as Ambarvale, Airds, Bradbury and Englorie Park offer an abundance of choice from 1970s 2-bedroom low rise units to 1990s 3-bedroom, 1-bathroom homes on sub-500 square metre parcels. These areas can only benefit from future urban sprawl. 
To illustrate the point, Property Observer found a two-bedroom townhouse at <a href="https://www.realestate.com.au/property-townhouse-nsw-campbelltown-122395302" target="_blank">14/10-18 Allman Street Campbelltown</a>, (above) which was sold for $436,000. The median price for units in the suburb was $410,000 while for houses it was $580,000, according to CoreLogic.
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In south-west Sydney, choices diminish for property below $500,000: HTW

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What will $500,000 buy you in Newcastle if you are an investor or a home buyer? Property valuation firm Herron Todd White has sought to answer this question in its July 2016 residential market report.
"The past year has seen an influx of Sydney and overseas buyers calling Newcastle home, well at least, the address is here. For whatever purpose, whether it be an investment, to reside in or just a place to park money for a bit, the activity has driven prices up in this once coal driven city," write HTW.
The first home owner market is still thriving with young Australians continuing to pursue the dream of owning their own home and with government incentives still available for home and land packages, Morisset ticks a lot of the boxes - close to the M1 for Sydney commuters, within half an hour of major shopping at Tuggerah and Glendale, an array of builders and still under the $500,000 mark. The downside is that blocks are smaller than average, and you’ll get to meet you neighbours regularly when you’re hanging out the washing, so ideal for young families.
Closer to Newcastle and if investment or down sizing is the intention, then look no further than Mayfield. Mayfield has that inner city vibe without the inner city price tag. A neat and tidy three-bedroom, two-bathroom home fetches a modest sale that is close to amenities and transport. If you play your cards right, you could even have enough change for a cup of fancy coffee at one of the new cafes on the main drag. In some cases you could even get some cake to go with it.
One of Lake Macquarie’s hidden gems is Jewells. A purpose-built suburb in the 1970s, most homes are brick and sturdy due to the design covenants enforced at the time of construction. What that means now is that a solid family home is pretty much ready to move into after a lick of paint and a trailer load of agapanthus from nearby Bunnings.
"Jewells has seen growth of around 26.3% in the past year, so you need to be quick because that ship has almost left the dock. If investment is your goal, then land is a quick way to make a profit. You could even buy two blocks and on sell if you don’t intend to build."
There are parts of Nelson Bay that are worth considering - West Wallsend, Gillieston Heights and Cessnock are all on target for further investigation and due diligence, the HTW report noted.
"So wind your windows down, take a drive, absorb the vista and get your cheque book ready. Happy hunting!"
As an illustration, Property Observer found a recently sold three-bedroom house in Morisset at <a href="https://www.realestate.com.au/property-house-nsw-morisset-122097614" target="_blank">55 Pulbah Street</a> for $390,000.
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Newcastle ticks many boxes for aspiring home owners in $500,000 range despite influx: HTW 

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NSW's Southern Highlands and Tablelands offer a range of choices to investors and FHBs in the under or up to $500,000 property market, according to valuation firm Herron Todd White's July residential market review.
Southern Highlands
The market in the Southern Highlands for $500,000 is limited generally to new units in the townships of Bowral and Moss Vale and 10 to 15-year-old houses in the established subdivisions on the periphery of town.
Around the $500,000 mark will buy a new two- or three-bedroom unit in the township of Bowral or Moss Vale or a ten to 15-year-old project home needing some work in East Bowral or Moss Vale. Rentals are in the $500 to $550 per week range providing a good return. In Mittagong, a smaller project style home can be purchased for $500,000 in newer subdivisions on the outskirts of the township.
Property Observer found a three-bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-moss+vale-121827434" target="_blank">27 Hoskins Street, Moss Vale, NSW 2577</a> (above) for $427,000, according to RP Data.
<div>
Southern Tablelands
</div>
The Southern Tablelands still offers choice and affordability to potential investors with lower price entry levels than the Highlands.
Depending on the dwelling, land size and quality of the home, between $475,000 and $500,000 will buy a new or modern home that will rent for between $470 and $500 per week. For capital growth, an investor could purchase an older style dwelling for between $350,000 and $400,000 and renovate.
"We have noticed over the past 12 months that out of town investors attracted to the region are purchasing multiple residential units or townhouse villa properties for between $200,000 and $250,000. These rent for between $220 and $300 per week providing a premium return when compared to traditional capital city rental returns," says the HTW report.
"This market continues to show good capital growth."
Rental levels in Goulburn are steady. Compared to 2015, the market has generally seen an uptick of around 15% in the Highlands and around 10% in the Tablelands.
"From our suggestions and focus in July 2015, we would consider reinvesting into these properties. Value and rental markets have improved in our region."
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NSW's Highlands and Tablelands offer good capital growth in $500,000 property market: HTW

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. 
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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>. 
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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] 
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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. 
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“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; 
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“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>

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Prateek Chatterjee

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