<html><body>
LJ Hooker's long-planned $400 million initial public offering may have got delayed further until September, with UK real estate agency Countrywide chairman Grenville Turner flying into Sydney for meetings with potential investors, according to a report in The Australian.
Citi, the lead manager to the IPO, scheduled back-to-back meetings with potential investors to explain the revised listing date, the business strategy and point out the differences between LJ Hooker's float and the December-listing of property agency McGrath Ltd, reported the Australian business column Dataroom. 
LJ Hooker's listing was subject to completion of its merger talks with Victorian real estate firm Barry Plant, as the combined, bigger entity would look to emulate Countrywide by housing both brands in the same corporate structure and yet operating independently, the report said.
The listing would be under the name Empireal and when it lists would have nearly 10 percent market share, making it the largest in the sector.
Countrywide and LJ Hooker entered into a partnership in 2012 to expand their reach. LJ Hooker, an iconic real estate firm launched by Sir Leslie Hooker in 1928, has more than 700 franchise offices across Australia.
Turner was drafted in as a special advisor by Janusz Hooker, the majority shareholder.
The report said Hooker, Turner and Empireal's chief executive designate and the current CEO of LJ Hooker, Grant Harrod, updated investors about the status of the merger talks.
The perceived slowdown in Australia's property market and McGrath's poor show are possibly weighing in on LJ Hooker's IPO.
McGrath, whose shares fell below their IPO pricing on its first day on the ASX, have lost more than a third of their value in three months. They were trading at $1.34 in mid-morning trade on April 13 on the ASX.
</body></html>

prateek24-ezbwHMbNAk

LJ Hooker public float may be delayed further: The Australian 

<html><body>
The inner suburbs always get plenty of press, but options lay beyond the hipster belt. 
Fringe suburbs present an affordable way into the market, especially if you are a first-time buyer and as long as you choose a prospect with the right fundamentals, you can expect your holding to show good long term growth, according to valuation firm Herron Todd White's property clock for April.
Given the growth in values achieved in the Sydney metropolitan area of late, the metamorphosis of older suburbs into modern living spaces that have been driven by location and buyer demand have changed the faces of many for the better. HTW focuses on suburbs within 20 to 25 kilometres of the CBD as the primary location for this shift.
Sydney South
Starting with the southern end of Sydney, we have seen Engadine and Kirrawee in the Sutherland Shire as two of the standout performers with significant growth and redevelopment changing these areas. The buzz has mainly come from the affordable price point for first-home buyers and upsizers.
In addition, the re-zoning for duplexes and new unit complexes has created an increase in current DA applications.
The Engadine shopping precinct has expanded over the past decade with the big three supermarket chains along with a number of restaurants and cafes drawing people to the suburb. Engadine is seen as ideal for buyers wanting to live within one of the few regions in Sydney bounded by national parks, close to Sydney’s southern beaches and with direct access to the CBD which is less than 50 minutes by train. The next five to 10 years in Engadine will see more development of high density units and duplex style dwellings. Engadine has seen median house prices increase from $600,000 in December 2012 to $885,000 in February 2016 with unit median prices increasing from $415,000 to $617,500 over this time period (source: realestate. com.au).
Property Observer found a few recently sold units around the median range on realestate.com.au.
<img src="/images/2016/04/13/image2-2.jpg" alt="" width="575" height="431">
1. A two-bedroom apartment at <a href="https://www.realestate.com.au/property-unit-nsw-engadine-121990510">11/6 Preston Avenue Engadine NSW 2233</a> (above) sold for $595,000 recently.
<img src="/images/2016/04/13/main-1.jpg" alt="" width="510" height="383">
2. Another recent sale was that of a three-bedroom apartment at <a href="https://www.realestate.com.au/property-apartment-nsw-engadine-121423654">1/1084 Old Princes Highway Engadine</a> (above) NSW 2233 sold for $630,000.
On a larger scale, Kirrawee is seeing huge redevelopment with a new $8.5 million hotel development on a site on the Princes Highway which was once home to a service station and motor mechanic. The new hotel will be almost opposite the Brick Pit site which sits at the junction of the existing retail strip, industrial factories and residential development, only 200 meters from Kirrawee train station. This site, approved for approximately 750 residential apartments between six and 14 storeys with a large commercial and retail presence, will be constructed at a cost of approximately $500 million.
A similar large-scale development is already under construction at Woolooware Bay which neighbours the Cronulla Sharks Football Stadium. The former car park and playing fields will be transformed into approximately 600 apartments with resortlike facilities including pools, spas, massage room, rooftop theatre and BBQ area set amongst lush gardens. There will be a retail, cafe and dining precinct, with the entire development adjoining foreshore parklands. 
A few recent sales in Kirrawee are 
<img src="/images/2016/04/13/image4.jpg" alt="" width="569" height="427">
1. A two-bedroom apartment at <a href="https://www.realestate.com.au/property-unit-nsw-kirrawee-122032070">31/602 Princes Highway Kirrawee NSW 2232</a> (above) for $580,000
<img src="/images/2016/04/13/main.jpg" alt="" width="561" height="421">
2. A two-bedroom apartment at <a href="https://www.realestate.com.au/property-unit-nsw-kirrawee-121869534" target="_blank">20/494-496 President Avenue Kirrawee</a> fetched $545,000
</body></html>

Sydney's fringe suburbs of Engadine and Kirrawee hold promise for FHBs: HTW

<html><body>
A residential development expected to be Box Hill's tallest tower on completion was officially launched to the public on April 9, 2016, with 8 percent of stage one sold out.
Sky One will be a 35-storey mixed-use building comprising 419 apartments and retail by Golden Age Development Group. It will be located at 545 Station Street.
The interest from the public can be gauged by the fact that sales crossed $140 million, said a media release. 
"We are absolutely thrilled with the response to Sky One so far. The launch weekend was overwhelming success with 85% of stage one sold and an extremely strong level of interest from the local Box Hill market,” said marketing and sales director of Golden Age, Dandan Zhao.
Privately owned Golden Age is based in Melbourne and among its developments are the new five-star Sheraton Hotel in Melbourne, residential towers Victoria One, Collins House and Opera, and two new projects in Sydney.
</body></html>

Off-the-plan Box Hill tower Sky One in Melbourne sees 85 percent sales at launch 

<html><body>
The valuation firm Herron Todd White has issued its latest property clock for the industrial market - a simple broad brush means to suggest where property markets are - and what direction prices are moving in.
South West WA is alone at the top -- peak of the market, according to the April property clock. 
<div><a href="/images/2016/04/7/Screen%20Shot%202016-04-07%20at%202.52.57%20PM.png" target="_blank">Click to enlarge</a></div>
<div> </div>
<div><img src="/images/2016/04/7/Screen%20Shot%202016-04-07%20at%202.52.57%20PM.png" alt="" width="808" height="554"></div>
 
Sydney is a market in decline, while Melbourne and Brisbane are approaching the peak.
Industrial is a great real estate leg-up for investors graduating from residential holdings into a commercial portfolio, according to HTW.
The sector has certainly presented affordable options in the past few years, but could it be due an upswing in 2016? The best way to buy well is to draw on local knowledge, say HTW. It’s not just broad markets that present the best opportunities. Variations between secondary to prime property play their part, as do different locations throughout the same town. 
 
</body></html>

South West WA at the peak of industrial property market: HTW property clock 

<html><body>
ASX-listed marketing services company Salmat has signed a six-year lease for office space in Melbourne's commercial CBD with the Lendlease-managed Australian Prime Property Fund Commercial (APPF Commercial). 
Salmat will occupy eight floors at 485 La Trobe Street, taking nearly 8,400 square metres in the South Tower.
Salmat will move into the building in January 2017 and has expansion rights over a further 3,300 square metres.
It will join other corporates at 485 La Trobe Street including Catholic Insurance, BP Elite and MV Anderson Accountants.
The 33,500 square metre, A-grade commercial complex was purchased by APPF Commercial in December 2013 and will undergo a refurbishment of the ground floor and end of trip facilities this year.
Salmat CEO Craig Dower said the decision followed 12 months of due diligence to find a suitable location.
“Maintaining a CBD presence, with accessibility to public transport from all surrounding areas will minimise the impact on our staff, clients and the business, as well as provide access to a pool of new staff to support our growth strategy,” said Dower.
Leon Kriewaldt of Tenancy Solutions represented Salmat, while Phillip Cullity of Savills advised Lendlease.
 
</body></html>

Salmat signs lease deal for office space in Melbourne's La Trobe Street

<html><body>
Canberra's Franklin’s recently saw sales of eight mixed-use commercial suites at 227 Flemington Road, minutes from the CBD.
The sale of the ground floor commercial spaces at the Aamira development were brokered through CBRE’s Mark Nicholls and Patrick Sammon on behalf of developer Taofei (Australia) International Pty Ltd.
The units, between 129sqm and 190sqm, sold at premium rates, said Nicholls, attributing it to the strong commercial demand for sites in the Franklin area.
“The majority of purchasers were owner-occupiers, however, a couple of units were purchased by investors. This demonstrates the increasing confidence buyers have in the long term investment potential of the Canberra commercial market, especially those situated on the proposed Capital Metro route.”
The units were offered to the market individually or combined, catering for a variety of commercial office, restaurant and retail businesses, added Sammon.
</body></html>

Eight commercial suites sold at Aamira development in Canberra's Franklin

<html><body>
The latest research from Melbourne Cityscope shows that commercial property sales have decreased in the past three months. 
Sales recorded in the quarter ending March 2016 totalled $800.9 million, a decrease from the $935.1 million in sales recorded in the three months to December 2015 and significantly lower from the $3.525 billion recorded in the three months to September 2015. 
This data brings the 12-month total to $6.108 billion from 323 sales, an increase compared with the previous 12-month total of $2.757 billion from 351 sales.
<div>
The table below shows sales recorded for the past eight updates of Melbourne Cityscope.
<a href="/images/2016/04/11/Screen%20Shot%202016-04-11%20at%2012.37.42%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/11/Screen%20Shot%202016-04-11%20at%2012.37.42%20PM.png" alt="" width="552" height="313">
The most notable sales recorded for the March 2016 update of Melbourne Cityscope include:
<ul>
<li>The acquisition of the remaining 43 per cent interest by AMP Capital WOF of Bourke Place consisting of properties at 600 Bourke Street, a 55 level development on a 6,548 sqm site providing 65,427 sqm net lettable area, Bourke Place Studio at 577 Little Bourke Street, a six storey brick office building with a net lettable area of 2,362 sqm, 188-194 King Street, 184 King Street, a four storey office building and a paved vacant land at former Bourke Place for approximately $243 million through a deal brokered by Savills;</li>
</ul>
<ul>
<li>A 50 per cent acquisition of SX2 Tower also known as Southern Cross West Tower at 111-129 Bourke Street by Southern Cross West Investment TC Pty Ltd for $218 million in a deal brokered by CBRE and Colliers International;</li>
</ul>
<ul>
<li>One Collins Street, consisting of several linked new and refurbished buildings ranging up to 17 storeys and is connected by a covered overhead walkway with property at 12-20 Flinders Lane, a 10 storey building with car parking on levels 1, 2 and 3 and offices on upper levels, were bought together for $125 million in a deal brokered by Knight Frank.</li>
</ul>
Properties for sale in the area covered by Melbourne Cityscope in March 2016 include: 
<ul>
<li>320-326 Queen Street a three storey Victorian rendered brick building occupied and owned by The Celtic Club and property at 316-318 Queen Street, a five-level brick and concrete office building including a basement with a combined site area of 676 sqm, are for sale and or as a redevelopment by international public tender closing May 6, 2016 through CBRE;</li>
</ul>
<ul>
<li>The Metropolitan on William Hotel at 263-267 William Street, a two storey older brick hotel building is for sale by auction on April 8, 2016 through CBRE and Killen Thomas. This property was last sold for $565,000 in 1993;</li>
</ul>
<ul>
<li>185-187 Lonsdale Street, a three storey brick building is for sale with an asking price of $9.9 million through Savills and Burgess Rawson; and</li>
</ul>
<ul>
<li>51 Queen Street, an office building of 11 storeys plus mezzanine and basement, for sale through expressions of interest closing April 7, 2016 through Colliers International. This property was last sold for $16.388 million in 2012.</li>
</ul>
<a href="/images/2016/04/11/Screen%20Shot%202016-04-11%20at%2012.40.29%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/11/Screen%20Shot%202016-04-11%20at%2012.40.29%20PM.png" alt="" width="568" height="327" style="font-size: 12.16px; line-height: 1.3em;">
Leasing opportunities in the area covered by Melbourne Cityscope in March 2016 include: 
<ul>
<li>485 La Trobe Street, two office towers linked by a six storey glass atrium and lobby with a total net lettable area of 33,639 sqm has office space ranging from 1,334 sqm to 7,317 sqm for lease through Savills and JLL Melbourne;</li>
</ul>
<ul>
<li>Melbourne Chambers, an 11 storey office building at 235 Queen Street with a net lettable office area of 3,533 sqm, has naming rights and areas ranging from 300 sqm to 3,621 sqm for lease through Colliers International and MP Burke Commercial;</li>
</ul>
<ul>
<li>Collins Place consisting of Collins Tower of 51 storeys at 35 Collins Street and the ANZ Tower at 55 Collins Street of 47 storeys has office floor area ranging from 1,689 sqm to 3,393 sqm for lease through Colliers International; and</li>
</ul>
<ul>
<li>KTS at 350 Queen Street, a 21 storey building consisting of an octagonal office tower above five levels of car parking with a net lettable area of 22,411 sqm, has office space ranging from 300 sqm to 9,000 sqm for lease through CBRE and Savills.</li>
</ul>
</div>
</body></html>

Melbourne commercial property sales fell in the last three months: CoreLogic RP Data Cityscope

<html><body>
The tougher lending criteria being imposed by the major banks, particularly in regards to living expenses, is silly and irrelevant, the former CEO of the Australian Institute of Professional Brokers has argued.
The tougher rules are hurting prime borrowers, said founder and owner of Melbourne-based Universal Wealth Management Maria Rigoni, speaking to MPA's sister publication Australian Broker.
“Lending criteria is getting harder and harder so really good, credit-worthy borrowers are being declined loans on the most simple and silly of reasons.
“What is happening is people are finding it harder and harder to borrow or refinance. You might have all these cheaper options out there, but with the way that [the banks] are squeezing down how much people can borrow, consumers are being stuck in high interest rate loans and you can’t move.” Rigoni’s argument comes just after ANZ announced in a note to mortgage brokers that it would change the way minimum living expenses were calculated when it decides on home loans.
</body></html>

Broker slams major banks over lending criteria

<html><body>
Horsham, a regional city in the Wimmera wheat growing region in western Victoria, is the new entrant at the top of the April property clock for houses.
The valuation firm Herron Todd White has issued its latest property clock for the residential market - a simple broad brush means to suggest where property markets are in April - and what direction prices are moving in.
All the other four are from NSW, namely Coffs Harbour, Dubbo, Newcastle and Central Coast and have retained their peak of market position from March as well. 
Horsham’s residential real estate market continues to provide a stable investment for both owner-occupiers and investors. The urbanisation of today’s population is bringing senior members of the community to central service hubs such as Horsham and generally increasing the larger centre’s ability to attract and retain the younger generation and continuing its population growth. In turn this brings about expanding outer built up fringe areas and increased prices for inner city property located in close proximity to shops and services.
As real estate in inner city Horsham continues to appreciate, more and more buyers are looking for cheaper alternatives. In larger centres such as Ballarat or Melbourne, this would see buyers moving further out of town into the suburbs and becoming more reliant on the local neighbourhood shopping centre. 
In Horsham, this phenomenon is generally different and sees families moving to smaller nearby town such as Murtoa and Dimboola that are located within a 30 minute drive of Horsham but maintain schools and local shops. House prices in these smaller towns are significantly lower than Horsham. As an example, Horsham’s current median house price sits at $290,000 while Dimboola’s median house price is a far more affordable $120,000. When weighing up size and affordability, regional towns are definitely an option.
Among the others, Gold Coast has climbed one notch from a rising market to approaching the peak. Sydney remains in the 'starting to decline' phase, while Mount Gambier and Townsville continue to stay at the bottom of the market.
<a href="/images/2016/04/11/Screen%20Shot%202016-04-07%20at%203.21.47%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/11/Screen%20Shot%202016-04-07%20at%203.21.47%20PM.png" alt="">
<div>
 
 </div>
<div> </div>
</body></html>

Victoria's Horsham joins NSW regions at top of house clock: HTW

<html><body>
Rental property technology company Property Connect Holdings Limited (ASX:PCH) has entered into an agreement with Florida-based SellState Partners Realty for its LiveOffer™ technology, an online system through which potential tenants can make offers on rental property.
The memorandum of understanding (MOU) will see the two parties negotiate a binding contract under which SellState Partners will exclusively complete leasing transactions for several large portfolio owners in the US using Property Connect’s LiveOffer™.
SellState Partners manages leasing transactions for several hedge fund property owners and is targeting about 200,000 rentals through this partnership.
"We manage the leasing transactions for some of the largest hedge funds in the US, and having access to Property Connect's LiveOffer™ platform will transform how the industry manages the leasing process moving forward,” said SellState Partners franchise owner Matthew Krac. 
"It's a huge win for the owner, broker, manager and renter."  
The agreement will remain in place for six months with negotiations to determine the pricing, though Property Connect expects this will follow a similar structure to that outlined for multifamily property managers.
“This move into the single family home market comes ahead of schedule and immediately highlights the scope for LiveOffer™ across a number of sectors,” said Property Connect CEO Tim Manson.
“We look forward to further exploring these new opportunities while also continuing our pursuit of management groups in our focus market of multifamily apartment group.
LiveOffer™ provides the renter with the ability to easily adjust the rent paid, move-in date and lease term and assists leasing agents to secure market-driven terms on each property.
The product can be integrated into existing property management software and allows renters to place an offer on a property and see in real-time where they are placed against other applicants, creating a fair market value for rental properties.
Offers are instantly matched against preferences set by property managers and ranked accordingly.
</body></html>

Property Connect signs MOU with SellState Partners Realty

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