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The Perth market is showing signs of improvement, says REIWA.
The vacancy rate has dipped to 4.5% - the lowest since April 2015, says REIWA President Hayden Groves.
“What we are seeing is a steady yet healthy improvement in tenant activity,” Groves said.
“Steady rents, easing supply as listings for rent continue to fall and stronger demand with more leasing activity all point to the rental market leading Perth’s property market recovery.”
REIWA’s data also shows that leasing activity is up 17% in August, while the media rent remained steady for the 17th consecutive month at $350 per week.
Groves said that the rental market across the city is stabilising, while he suburbs of Leederville, Glendalough and Secret Harbour experienced the most significant growth in leasing activity during August.
“Leederville had more than double the amount of properties leased from July to August, with the volumes increasing by an impressive 18%,” Groves said.
“Typically, as we move into these warmer spring months, the property market should see an overall uplift in activity, and historically the sales market follows the rental market during a recovery.”
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j.ballantyne1990-6AQqhLzZaK

Perth rental market improves in August: REIWA

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ASX-Listed Buymyplace.com.au (BMP) has purchased an end-to-end DIY property management company for $2 million.
Pleased.Property (Pleased) was founded 18 mponths ago by Jeremy Goff, alongside Gerard Holland and Domenic Saporito of GADA Technology.
It offers optional live video condition inspections for long-distance property management.
“Pleased enables owners and renters to carry out every possible interaction, communication and transaction for their rental property on a single secure platform,” said Goff
“Our best-in-class technology platform will further enhance BMP’s core value proposition, allowing customers greater choice and control over their property investments.
“This transaction is a win-win solution for all parties involved.”
Colin Keating, CEO of BMP, said the success of BMP to date proves that the real estate sector is ripe for disruption.
“Rental transactions are a relatively untapped opportunity for our business, but one where we can immediately begin to capture greater revenue from our existing customer base, expand our market and offer our customers greater choice and control across the spectrum of property transactions
“This acquisition is a key pillar in our buy, rent and sell strategy.”
 
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Buymyplace snaps up DIY property management startup for $2 million

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The NSW Government has announced a new a regulatory framework to govern the short-term holiday letting industry.
Short-term holiday letting has rapidly expanded in recent years due to the growth of online booking services such as Airbnb and Stayz.
The regulatory framework is designed to ensure that local communities continue to gain from the economic benefits of short-term holiday letting, while protecting neighbours from anti-social behaviour.
What is the new framework?
The new framework will include new planning laws, an industry Code of Conduct and new provisions for strata scheme by-laws.
Planning laws
New planning laws will allow short-term holiday letting under certain conditions. If the host is present, they can use their home for short-term holiday letting all year round as exempt development. That is, they do not need to submit a development application to local council.
If the host is not present, that residence can be used for short-term holiday letting up to 180 days per year in Greater Sydney, with 365 days allowed in all other areas of New South Wales. Councils outside Greater Sydney will have the power to decrease the 365 day limit to no less than 180 days per year.
There will also be additional conditions for bushfire prone land to ensure visitor safety.
<a href="https://www.propertyobserver.com.au/images/2018/9/4/regulation%201.jpg" target="_blank">Click here to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/9/4/regulation%201.jpg" alt="">
Code of Conduct
A mandatory Code of Conduct will be introduced that will apply to anyone involved in providing or using short-term holiday letting including hosts, guests, online platforms, and letting agents.
The Code will establish the ‘two strikes and you’re out’ policy. Hosts or guests who commit two serious breaches of the Code within two years will be banned for five years. Platforms and letting agents will not be permitted to offer services to anyone, or any dwelling, that is listed on the exclusion register.
A strike will include any behaviour which unreasonably interferes with a neighbour’s quiet and peaceful enjoyment of their home.
The Code will establish a complaints system, which will be available to neighbours of short-term holiday letting premises, strata committees and owners corporations.
Complaints will be assessed by independent and impartial adjudicators, approved by the Commissioner for Fair Trading. Adjudicators will be required to make decisions on evidence and after giving both complainants and respondents a chance to put forward their case.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/9/4/regulation%202.jpg" alt="">
Strikes will be recorded on an online register to ensure that guests and/or hosts cannot 'platform shop'. Platforms and property agents will have to check the register before taking on new customers. Failure to do so may result in significant penalties of up to $1.1million for corporations and $220,000 for individuals.
NSW Fair Trading will have powers to police online platforms and letting agents. The Code, its enforcement, the compliance system and the register will be funded by industry.
What about strata schemes?
Strata scheme management laws will be amended to clarify that by-laws can prohibit short-term holiday letting, but only for lots that are not a host’s principal place of residence.
That is, if a host is genuinely sharing their home, they will still be able to use a spare room for short-term holiday letting, and will be allowed to let out their principal place of residence while they are away on holidays.
NSW Fair Trading will also develop guidelines to advise owners corporations on how they can use other existing strata laws to help deal with short-term holiday letting.
<a href="https://www.propertyobserver.com.au/images/2018/9/4/regulation%203.jpg" target="_blank">Click here to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/9/4/regulation%203.jpg" alt="">
When will the new framework start?
The NSW Parliament passed the Government’s short-term holiday letting reforms on Tuesday 14 August. The new framework is expected to start in 2019.
The Code of Conduct will be developed in consultation with Government agencies, and industry and community groups during 2018.
The reforms will be reviewed a year after they commence.
How was the framework determined?
In October 2016, the NSW Parliament Legislative Assembly Committee on Environment and Planning made several recommendations to the Government following its public inquiry on the Adequacy of Regulation of short-term residential accommodation.
The Committee’s report was released in October 2016 and made 12 recommendations, mostly relating to planning and strata laws.
In mid-2017, the Government released an Options Paper on short-term holiday letting.
The Options Paper explored approaches to implement a whole of Government regulatory framework for the industry that addressed land use and planning issues and strata scheme management issues, including the amenity and safety of existing residents.
Community and industry feedback on these options helped guide and inform the Government's reforms to the regulations of short-term holiday letting.
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NSW government announce new short-term holiday letting regulations

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Billionaire apartment developer Harry Triguboff has reaffirmed prices in his new projects had dropped about 15 per cent in the past year.
The Meriton founder says slow wage growth was adding to the drag on the weakening housing market.
“Buyers still say they can’t ­afford it,” Mr Triguboff told The Australian.
“Wages here have to be higher.”
An average Chinese buyer can afford a unit in Sydney, but an Australian cannot, despite the falling prices, said Mr Triguboff.
He has previously suggested there is no bust coming when he initially signalled mid-year that prices had slumped.
Despite the weakening, Meriton’s two-bedroom unit prices hover around $1 million.
Triguboff said the average Mascot two bedders was about $1.1 million while at Pagewood it was $950,000.
Stagnant wages were "worsening" the conditions, Mr Triguboff said.
“Nobody qualifies for loans.”
Last October Harry Triguboff advised he'd been cutting prices by five per cent and covering the additional stamp duty costs for buyers of its apartments over the past year.
Triguboff says its had cost about 10 per cent of Meriton's $1.2 billion turnover.
"It may be too early to say," Mr Triguboff told The Australian Financial Review. "But if you take a turnover of $1.2 billion, then you take 10 per cent, it will cost $120 million."
Triguboff said a lot of Chinese buyers lost their <a href="/news/as-prices-fall-15-harry-triguboff-confirms-chinese-apartment-buyers-lost-their-10-percent-deposits">10 percent deposits last year.</a>
 
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Harry Triguboff reaffirms 15 percent apartment price decline

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The change in leadership of the Commonwealth Government has brought new ministers to the portfolios that are connected with important housing, homelessness, cities and urban issues.
The Hon Scott Morrison MP (Liberal Party), the Prime Minister, has engaged closely with housing issues in his previous roles as Treasurer and Minister for Social Services.
Prime Minister Morrison also has a strong background in housing issues having been National Manager, Policy and Research, of the Property Council of Australia between 1989 and 1995.
The Hon Josh Frydenberg MP (Liberal Party) is Treasurer, a role that has a large impact on the work of those in Australia’s housing and homelessness sector.
The Treasury oversees the National Housing Finance and Investment Corporation and the Bills relating to the National Housing and Homelessness Agreement, which enables the Commonwealth to provide financial assistance to the states for housing, homelessness and housing affordability matters. 
Senator the Hon Bridget McKenzie (The Nationals) is the Minister for Regional Services, Local Government and Decentralisation. As part of this Ministry, Senator McKenzie sees ‘getting people out of our congested cities and into our regions' as a core priority. 
The Hon Paul Fletcher MP (Liberal Party) is the Minister for Families and Social Services. Minister Fletcher has a background in the law, economics and the communications sector. Prior to his most recent Ministerial appointment, he was Minister for Urban Infrastructure and Cities. The Department of Social Services delivers services such as Commonwealth Rent Assistance, the on-going National Rental Affordability Scheme (NRAS) and the National Partnership Agreement on Homelessness (NPAH).
The Hon Alan Tudge MP (Liberal Party) is the Minister for Cities, Urban Infrastructure and Population, the ministry that oversees the Smart Cities and City Deals programs which aim to bring all levels of government together to improve the productivity and liveability of Australian cities.
Minister Tudge’s background is in business, including several years with the Boston Consulting Group in Australia, Malaysia and New York, and running his own advisory business.
Senator the Hon Zed Seselja (Liberal Party), Assistant Minister for Treasury and Finance, studied Arts and Law at the Australian National University before joining the Commonwealth Public Service as a Lawyer. Previously, Senator Seselja was elected to the Australian Capital Territory Legislative Assembly in 2004 before resigning to stand for the Senate for the Australian Capital Territory. Senator Seseljia will support the Treasurer in a portfolio that has responsibility for the National Housing Finance and Investment Corporation, amongst other programs.
The Hon Sarah Henderson MP (Liberal Party), the Assistant Minister for Social Services, Housing and Disability Services, has an extensive background as a journalist and lawyer, and won a Walkley award for her coverage of the Port Arthur massacre in 1996.
The inclusion of Housing in the Minister’s portfolio is a welcome addition to the Government’s frontbench, AHURI advised.
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Who are the new Federal Government ministers who will look after housing and cities?

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Record prices have been achieved for commercial property in the southern end of the Sydney CBD.
More than $78 million worth of assets have been sold in the past few months in Haymarket and surrounding streets.
These suburbs are making a comeback on the back of new infrastructure and development, with recent changes to planning controls attracting a new wave of buyers, according to Savills.
Executive for Metropolitan &amp; Regional Sales at Savills Australia, David Hickey, said the Sydney CBD’s southern corridor was becoming one of the city’s “most dynamic locations”.
His observations follow the sales of 410 Pitt Street for $22.5million, 810-812A George Street ($14.65million) and 94 Hay Street ($16.3million) in Haymarket, and 332 Kent Street ($25million) in Sydney CBD.
“Haymarket is known for its proximity to the southern end of the CBD and all the amenities that it has to offer, including major colleges and universities, Chinatown and Central Station,” Hickey said.
“The recent changes in planning controls give incoming purchasers and developers a substantial opportunity to maximise the uplift and achieve greater density in new projects, providing they can amalgamate adjoining properties.”
Hickey and colleagues Tom and Nick Tuxworth will bring another Haymarket property, 8 Cunningham Street, to market with expectations of circa $5 million.
It is a three-level freehold with 434 square metres of internal area in the heart of Chinatown’s retail trade precinct.
Hickey said it allows for a variety of future configurations and uses, including multi-level office space, hospitality, retail or student accommodation, subject to council approval.
He also predicts an increased level of interest from the residential market for this property because the residential market in Sydney has slowed considerably across the metro area.
"But the city and fringe suburbs have remained extremely strong,” he said.
8 Cunningham Street is within close proximity of a variety of public transport options, including Central Station, several bus routes and the George Street zone of Sydney Light Rail.
There is secure off-street parking for one car.
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Savills sees price resurgence in Haymarket, Sydney commercial sites

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GUEST OBSERVATION
Public concern about housing affordability in Australia is well documented. It would be reasonable to assume our local governments are giving the supply of affordable housing the attention it deserves. However, our national survey reveals that while it’s a growing concern for many local governments across the country, especially in metropolitan areas, most councils do not view the provision of affordable housing as a priority for them.
The survey results strongly suggest that local governments do not feel they have the capacity to intervene in a meaningful way.
The survey included a range of questions about local governments’ engagement with housing-related activities in their area. We asked about the priority given to housing issues, how important housing is relative to other council issues, and what kinds of policies and initiatives they plan to implement to help resolve the problem.
All 546 local governments in Australia were invited to participate in the survey. We received 213 responses. The majority, 72%, came from non-metropolitan areas (there are a lot more non-metropolitan local governments).
Do councils think it’s a problem in their area?
Almost all the metropolitan councils saw housing affordability as an issue (Figure 1). Half saw it as a very substantial or substantial issue. Only 13.5% said it was not an issue.
In contrast, only 26.6% of non-metropolitan councils responded that housing affordability is a substantial or very substantial issue.
<img src="https://images.theconversation.com/files/234743/original/file-20180904-41711-mht0p6.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Author provided
The responses to the question about what proportion of housing stock in the council area is affordable were remarkable (Figure 2).
Half of the metropolitan councils said only 5% of the housing in their local government area (LGA) was affordable. Three-quarters said 10% or less. Even in the non-metropolitan areas, 43% of councils said only 15% of housing was affordable.
<img src="https://images.theconversation.com/files/234744/original/file-20180904-41723-21krxm.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Author provided
What are councils doing about it?
Despite recognising the problem, very few councils appear to be making the provision of affordable housing a priority. Just 13.5% of respondents from metropolitan areas and 15.5% from non-metropolitan LGAs said their councillors gave housing affordability a substantial or very substantial amount of attention (Figure 3).
<img src="https://images.theconversation.com/files/234745/original/file-20180904-41735-1fu95ai.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Author provided
Linked to this lack of attention, few councils viewed “finding ways to provide adequate affordable housing” in their LGA as a priority (Figure 4). Not one metropolitan council answered to a “very substantial extent”. Only a quarter said to “a substantial extent”.
About four in ten metropolitan councils and over half of the non-metropolitan councils viewed finding ways to provide adequate affordable housing locally as a non-priority. These councils had put this on the far backburner.
<img src="https://images.theconversation.com/files/234747/original/file-20180904-41729-1w5bv83.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Author provided
Local governments were also asked what priority had been given to housing relative to other council issues (Figure 5). Just 1.8% of respondents in metropolitan areas and 5.2% in non-metropolitan areas said housing had been given “very high” priority.
More encouraging was that about four in ten councils in metropolitan areas did say they had given it high priority relative to other issues. Very few non-metropolitan councils, about one in five, said housing was a high priority or very high priority relative to other issues.
<img src="https://images.theconversation.com/files/234748/original/file-20180904-45166-1n7xnwk.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Author provided
Do councils have policies, targets or strategies in place?
Fewer than half of those surveyed said they had a “housing policy, housing plan or housing strategy” in place (Figure 6).
<img src="https://images.theconversation.com/files/234758/original/file-20180904-45172-1rapyhg.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
 Author provided
Those that reported having a formal policy said it focused on such issues as housing affordability, residential land development, population change, urban design, social and public housing, and energy efficiency.
However, our survey reveals that those policies are not perceived as being particularly extensive. Figure 7 shows just one in four local governments in metropolitan areas and 10% from non-metropolitan areas believe their council’s housing policies are “comprehensive” to a very substantial or substantial extent.
<img src="https://images.theconversation.com/files/234749/original/file-20180904-45139-mecft3.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Author provided
The data suggest that having an explicit housing affordability target was viewed as unrealistic. Only 17.3% of metropolitan councils and 10.1% of non-metropolitan councils said they had an explicit target (Figure 8).
<img src="https://images.theconversation.com/files/234757/original/file-20180904-45139-ow2do5.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Author provided
Whose responsibility is it to provide affordable housing?
It’s noteworthy that, out of 213 councils, only one felt local government should be primarily responsible for “addressing the problems associated with housing in Australia” (Figure 9). The overwhelming sentiment was that state government or a combination of all levels of government should be responsible.
<img src="https://images.theconversation.com/files/234752/original/file-20180904-45139-magd94.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Author provided
The results suggest that improving housing affordability in a meaningful way is beyond the remit of local government. State and federal governments need to take the lead.
Although many councils are well aware that housing affordability is an issue in their area, they feel unable to respond in a meaningful way. An explanation for this is a unanimous view that Australia’s housing affordability problem is beyond the capacity of local governments to resolve. Almost all councils believe the provision of affordable housing is the responsibility of state and/or federal governments.
This is not surprising when we consider that local government accrues only 3.5% of all tax revenue. Local councils lack the fiscal capacity to develop affordable housing.
Further, state governments often override local governments’ efforts through the planning approvals to ensure all new developments have an affordable housing component.<img src="https://counter.theconversation.com/content/97461/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
Alan Morris, Research Professor, University of Technology Sydney
Catherine Davis, Research assistant, University of Technology Sydney
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/local-councils-put-affordable-housing-supply-in-the-too-hard-basket-97461" target="_blank">original article</a>.
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Local councils put affordable housing supply in the too hard basket

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The busiest suburbs for auctions this weekend are once again in Victoria with Glen Waverley topping the list with 15 homes scheduled for auction, tied up with Reservoir which also had 15.
Auction activity across the combined capital cities will remain relatively steady this week, with a total of 1,828 homes set to go under the hammer, 842 of which are in Melbourne.
This is an increase on last week’s final figure which saw 1,748 auctions take place in the combined capital cities and 805 in Melbourne.
Over the same week last year, 2,258 capital city homes went to auction; a difference of almost 20% on the number of auctions we are currently tracking this week.
<img src="https://www.urban.com.au/images/2018/9/6/Auctions%20this%20week%20Sept%209.JPG" alt="">
An example of a property going to auction in the busy Glen Waverley is 7 Autumn Court (pictured above)
This four bedroom, two bathroom house is on the market for the first time since it was constructed in 1999.
The price guide for this 600 square metre holding is $1.8 - $1.98 million.
<img src="https://www.urban.com.au/images/2018/9/7/Glen%20Waverly%202.JPG" alt="">
Another large home under the hammer this weekend is 5 Sagan Court, Glen Waverley (pictured above).
Set on a 794 square metre lot this house has a $2.3 - $2.53 million price guide.
It first sold in 2008 for $656,000 and most recently in 2015, seven years on, for $2.02 million.
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Glen Waverley to be the busiest auction suburb this weekend

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GUEST OBSERVATION
REIWA is encouraging all members of WA Parliament to oppose the foreign owner duty surcharge.
The tax is poorly timed and will only serve to further stifle the state’s property market.
WA has the lowest level of foreign investment and foreign students of any capital in the country, besides Darwin. The state is also on the verge of a skills shortage and we need foreign families to fill that void.
This type of misguided policy will dampen the incentive for foreigners who are not permanent residents to locate and live here. The WA Government should be implementing policies that attract people to the state, not deterring them with unfair taxes.
Those that do come to WA, will be forced into the rental market for the duration of their stay, or until they obtain permanent residency. This will cause an upward pressure on rental prices, affecting everyone.
This new tax will also impact West Australians with foreign spouses.
West Australians with foreign spouses who purchase a home together would also be affected by this surcharge, with 50 per cent of the value of the property eligible for the seven per cent tax under the government's proposed legislation.
This policy has been touted as an investor tax, that only targets the big end of town, but that simply is not the case. In fact, land bought to be developed into eight or more dwellings is exempt.
Western Australia has a long history of migrants, coming to WA to work and raise a family. This surcharge sends a clear message that the door is closed, and there certainly won’t be a welcome mat!
This kind of Nationalistic policy will only dampen the property market and cause skills shortages to the detriment of everyone in WA.
Hayden Groves is President of the REIWA.
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WA foreign buyer surcharge sends wrong message: REIWA

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Hobart recorded quarterly gains of just 0.1% these past three months, extremely low considering the city has had an annual growth of 10.7%.
In fact, Adelaide just beat out Hobart this quarter as the best performing capital city.
Dwelling values in Hobart have posted two consecutive months of slight falls culminating in that shift of just 0.1%. 
<img src="https://www.urban.com.au/images/2018/9/3/CL%20Dwelling%20Values%20over%20time.JPG" alt="">
CoreLogic found that the median house price in Hobart was $459,997 and an example of this was the sale of 1/72 Warwick Street Hobart (pictured above). 
The one bedroom, one bathroom cottage, sold for $480,000 after less than three weeks on the market this July.
The holding is set on 146 square metres and the sale was just short of a 400,000 improvement on its most recent sale price of $93,000 in 2000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/9/6/HOBART%202.jpg" alt="">
Another example of this median price being accurate is 110 Campbell Street Hobart (pictured above).
The four bedroom, one bathroom one storey house sold for $505,000 in mid June.
It was sold after only 23 days on the market.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/9/6/HOBART%203.jpg" alt="">
The median unit price in Hobart is just under $100,000 less, sitting at $366,126.
Indicative of this 2/92 Barrack Street Hobart (pictured above) sold for $358,5000 last month after 134 days on the market.
This two bedroom one bathroom apartment has 71 square metre of floor space and was most recently rented at $360 per week in late 2017.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/9/6/HOBART%204.jpg" alt="">
The apartment at 8/77-79 Molle Street Hobart (pictured above) was recently sold.
The one bedroom one bathroom property sold for $385,000 in early March.
It was on the market for just nine days and had a rental listing of $350 per week in May.
<img src="https://www.urban.com.au/images/2018/9/3/CL%20Dwelling%20Value%20Index.JPG" alt="">
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Hobart dwelling values lagging behind this quarter despite 10% annual growth

An entity directed by HSN's Rafi Assouline and Rebel Property's Allen Linz has filed plans for an impressive new precinct in Woolloomooloo.

The major mixed-use development would transform a prominent William Street site into a new residential village anchored by affordable housing and a large public park.

The proposal, submitted as a State Significant Development Application, covers 164-172 and 174-194 William Street, a 6,398 sqm site between Forbes Street and Dowling Street on the southern edge of Woolloomooloo.

Designed by fjcstudio in collaboration with Bangawarra, Studio Bright and Tribe Studio Architects, the scheme would deliver 227 apartments across four residential buildings ranging in height up to 18 storeys, alongside retail space, public domain improvements and a new publicly accessible park.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="0eb59b7c-914a-4a5c-b849-3a56749f5e93" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.18.51%E2%80%AFAM.png?VersionId=mxM6EEqeoLjrCiTlCzTKTvzpKuh6kSkH" />

It's another design scheme for Rebel, who took <a href="https://www.apartments.com.au/news/nsw/first-look-rebel-property-group-takes-woolloomooloo-precinct-to-nsw-government">concept plans to the NSW Gov late last year</a>.

The latest plans will be a mix of 167 build-to-sell apartments and 60 affordable apartments, with the affordable housing component representing 15 per cent of the project's gross floor area. The apartment mix includes 12 one-bedroom, 53 two-bedroom, 89 three-bedroom apartments and 13 penthouses, while the affordable housing component would comprise 42 one-bedroom and 18 two-bedroom apartments.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="3b3d4553-8a8c-4af5-aa8c-519ffb1e28c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.12%E2%80%AFAM.png?VersionId=_Yb6ibN7eDnOtQjCNDK2eviORa4qzgv." />

Rebel Property is seeking to take advantage of the NSW Government's infill affordable housing bonus provisions under the Housing SEPP, which provide additional floor space and height in exchange for the delivery of affordable housing for a minimum of 15 years. The planning pathway allows a 30 per cent increase in floor space ratio and building height where 15 per cent of the development is dedicated to affordable housing.

&nbsp;

At the centre of the development is a 1,356 sqm sunlit public park designed to become a new community gathering space at the gateway to Woolloomooloo. The park would be complemented by a network of pedestrian laneways connecting William Street with the surrounding streets, improving permeability through what is currently a largely impermeable block.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="257af931-a393-4007-8c6d-7219796df58d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.51%E2%80%AFAM.png?VersionId=KAHy94GrhaReFsWTGDKfy39EDJ8gEEv4" />

The design team says the public domain has been heavily influenced by the site's topography and Aboriginal cultural heritage, drawing on the escarpments, gullies and landscape characteristics that historically defined the area before urbanisation. The landscape design has been developed in partnership with First Nations consultancy Bangawarra.

The project would be delivered across four separate buildings. The William Street East and William Street West buildings, designed by fjcstudio, would contain the majority of the apartments. Melbourne-based Studio Bright has designed the Forbes Street building, while Tribe Studio Architects is responsible for the Dowling Street building.

Rebel had secured approval for the concept plans late last year.

Joel Robinson

First look: HSN, Rebel, advances Woolloomooloo precinct plans

A locally heritage-listed furniture showroom on Water Street is set to become the centrepiece of a new mixed-use residential development as local developer&nbsp;<a href="https://www.apartments.com.au/developers/keylin-group">Keylin</a> seeks approval for <a href="https://www.apartments.com.au/new-apartments/lotus-on-water-street-290-water-street-fortitude-valley-qld-4006">Lotus on Water Street</a>, a 15-storey project on the Fortitude Valley side of Spring Hill.

The proposal spans 290 Water Street and 137-141 Warry Street, combining several properties into a 2,869 sqm site that sits between Fortitude Valley, Spring Hill and the rapidly evolving Victoria Park precinct. Keylin's plans would deliver 132 apartments alongside new retail, hospitality and commercial space, while retaining and repurposing the historic Brunswick Home Furnishers Showroom that fronts Water Street.

Designed by <a href="https://www.apartments.com.au/architects/jackson-teece">Jackson Teece</a>, Lotus on Water Street comprises a 12-storey residential tower rising above a three-storey podium and communal rooftop terrace. The development includes 76 apartments classified as multiple dwellings and a further 56 units proposed as short-term accommodation, designed to be flexibly used as either accommodation or permanent residences. The apartment mix comprises six one-bedroom, 54 two-bedroom and 16 three-bedroom homes.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="9822bb79-6c49-49c9-95ba-319e8c8d81c3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20front.png?VersionId=ioW8zbN4UVebbLetTFuv92t.HkdgfR5e" />

Residents would have access to an extensive rooftop recreation level spanning more than 1,200 sqm of communal open space. Plans include a pool, gym, sauna, infrared sauna, yoga area, library, private dining room, barbecue facilities and landscaped entertainment spaces, making the rooftop the project's largest shared amenity offering.

At street level, the proposal focuses on the adaptive reuse of the heritage buildings along Water Street, where 518 sqm of retail and commercial space is planned across shop, office and food and drink outlet uses. A permeable residential lobby would be positioned between the retained heritage buildings, creating a pedestrian connection between the historic streetscape and the new tower behind.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="269cf3e0-7d13-48bf-a318-05a00deb5c10" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20podium.png?VersionId=DLXmTCLsp6GOcLpQ0h.0z7wKCw59EhN_" />

The heritage retention strategy is central to the scheme. The development application notes that the Brunswick Home Furnishers Showroom and adjoining heritage buildings will remain, with only non-significant structures on the site earmarked for removal under a previously issued Heritage Exemption Certificate. Levels one and two of the new podium are recessed behind the heritage façades to maintain their prominence within the streetscape.

Jackson Teece has drawn inspiration from the site's manufacturing history when designing the podium. The planning documents state that the façade incorporates perforated metal screening that references the woven and rattan furniture historically produced on the site. Cascading and climbing plants are integrated throughout the podium to soften the building's presentation and screen parking levels behind. The landscape strategy also informs the project's name, Lotus on Water Street, drawing on the historic Spring Hollow waterholes that once ran through Spring Hill and the blue water lilies associated with Meeanjin, Brisbane's traditional name.

The proposal also incorporates the neighbouring property at 141 Warry Street, currently occupied by a healthcare service. The existing building would remain, with nine dedicated parking spaces allocated within the new development to support its ongoing operation. In total, Lotus on Water Street proposes 117 car spaces, including 110 resident spaces and seven visitor bays, alongside 100 bicycle spaces.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="70cf07bc-4fd8-4e70-92dd-be8b21c4e4f0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20site.png?VersionId=txlxrJImM0Sm_vTzHVKh5DDUkyL_CiiA" />

The site sits within the Spring Hill East Precinct of the Spring Hill Neighbourhood Plan and is positioned around 650 metres from both Fortitude Valley Station and Exhibition Station. It is also within walking distance of the King Street precinct, Royal Brisbane and Women's Hospital, Herston Quarter and Victoria Park, which is earmarked to become a major venue precinct ahead of the Brisbane 2032 Olympic and Paralympic Games.

Planning documents describe the location as a key gateway between Spring Hill and Fortitude Valley and highlight the area's increasing importance as new transport infrastructure and Olympic-related investment reshape Brisbane's inner north. The development team argues the project will contribute additional housing supply while activating a section of Water Street that has historically received less investment than other parts of the Valley.

Keylin has become increasingly active across Brisbane and southeast Queensland, assembling sites in strategic inner-city locations. They are currently selling and delivering <a href="https://www.apartments.com.au/new-apartments/oria-spring-hill-447-gregory-terrace-spring-hill-qld-4000">Oria Spring Hill</a>, just over 140 apartments due for completion in 2027.

Keylin plans heritage-led Lotus on Water Street apartment development in Fortitude Valley

Roseville is poised for a wave of new apartment development following the NSW Government's rezoning of land around Roseville Station under its Transport Oriented Development program.

The new planning controls have unlocked significant development potential within walking distance of the station, with a number of sites expected to be amalgamated and redeveloped in the coming years as developers seek to take advantage of the increased density allowances.

One of the more restrained developments in the precinct, and set among the first to be delivered having commenced well before the recent changes, is Hyecorp's Juliet. The boutique apartment project is already well under construction and remains on track to welcome residents by the end of the year, offering a markedly different proposition to many of the larger-scale developments now likely to emerge across the suburb.

[smartcode_project:default project_id=7395 project_image_fid=278194]

<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet</a> will comprise just&nbsp;34 one-, two-, and three-bedroom apartments opposite Roseville Station. For Hyecorp, which has delivered projects across Sydney's Lower North Shore for more than three decades, Roseville presented a rare opportunity to address a growing gap in the market.

"<a href="https://www.apartments.com.au/developments/roseville-nsw-2069">Roseville</a> has long been one of the North Shore's most tightly held and desirable suburbs, offering a unique combination of village charm, established greenery, excellent transport connections, and proximity to some of Sydney's best schools and lifestyle amenities," Hyecorp said.

"We recognised a growing demand from local homeowners seeking to downsize without leaving the community they have built their lives around. The location presented a rare opportunity to create homes that cater specifically to that buyer profile."

[smartcode_project:default project_id=7395 project_image_fid=278196]

The six-level development has been designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a> as a collection of residences that feel more like homes than apartments. The brief centred generous floorplans, abundant natural light, quality finishes, and strong connections to outdoor space.

PBD Architects drew inspiration from Roseville's established garden suburb character, creating a building that sits comfortably within its surroundings rather than dominating them. The architecture incorporates natural materials, soft forms, layered landscaping, expansive balconies, and generous setbacks to strengthen the connection between residents and the suburb's leafy environment.

"The focus was on designing spacious, house-like residences for discerning owner-occupiers and downsizers who wanted to remain on the North Shore without compromising on comfort, privacy, or design," PBD said.&nbsp;

"Every apartment was to feel considered, timeless, and highly functional."

[smartcode_project:default project_id=7395 project_image_fid=278195]

Inside, residences feature engineered timber flooring, stone kitchen benchtops and splashbacks, integrated Fisher &amp; Paykel appliances, ducted air conditioning, and large outdoor entertaining areas designed to take advantage of district and treetop views.

Residents will also have access to a rooftop barbecue and lounge area, alongside practical amenities including parcel lockers, EV charging capability, bicycle storage, a dog wash bay, and a basement car wash facility.

The majority of purchasers so far have been local owner-occupiers from Roseville, Lindfield, Chatswood, Killara, and the broader Upper North Shore, many of whom are transitioning from larger family homes.

"Buyers are looking for spacious, house-like apartments that allow them to downsize without feeling like they are sacrificing comfort or functionality," Hyecorp noted.

"They value large kitchens, generous living areas, ample storage, quality finishes, secure parking, lift access, and low-maintenance living."

[smartcode_project:default project_id=7395 project_image_fid=278204]

Juliet sits directly opposite Roseville Train Station and within walking distance of Roseville Village, while Chatswood's retail and dining precinct is only minutes away. The development is also surrounded by some of Sydney's most established schools, including Roseville College, Ravenswood, Pymble Ladies' College, and Knox Grammar, as well as nearby parklands and golf courses.

Juliet is currently more than 75 per cent sold ahead of its anticipated completion in late 2026.

[smartcode_project_cta:default project_id=7395]

Juliet to sit quietly amid Roseville apartment boom

Sherpa Property Group has unveiled the third instalment of its Flourish series, securing full approval for the two-tower, $500 million Flourish Soleira development in Palm Beach.

<a href="https://www.apartments.com.au/new-apartments/flourish-soleira-1150-1154-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> will rise from a prominent site in the commercial heart of Palm Beach, the long-time home of Cash Converters and a range of local retailers.

The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.

[smartcode_project:default project_id=150017 project_image_fid=370959]

“We’re very committed to not only providing affordable residential offerings that are much needed in Palm Beach, but also delivering a vibrant new commercial heart that complements the extraordinary growth of the southern Gold Coast,” Sherpa Property Group founder Christie Leet said.

The development will sit under Sherpa's Flourish brand, which is aimed at providing a pathway into the beachside suburb for locals, first-home buyers and downsizers. In a move designed to assist first-home buyers entering the market, Sherpa has reserved all one and two-bedroom, one-bathroom apartments exclusively for eligible first-home buyers.

[smartcode_project:default project_id=150017 project_image_fid=370964]

“Our vision through Flourish is to create a vibrant retail and lifestyle focal point within the Palm Beach centre zone, delivering thriving communities underpinned by lifestyle-rich locations,” Leet said.

“So far, Flourish has been an incredible success, and we hope to carry this momentum as we progress the next two Flourish projects in Palm Beach.”

[smartcode_project:default project_id=150017 project_image_fid=371430]

Located across 1150-1164 Gold Coast Highway and 3 Sixth Avenue, the development will comprise two towers. The northern tower will deliver 154 apartments, while the southern tower will add a further 132 residences, helping address ongoing demand for new apartments in the tightly held coastal suburb.

Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.

The two towers will be connected by a skybridge, with residents gaining access to a rooftop recreation deck featuring a full-width swimming pool, hot and cold plunge pools, wellness spaces, a gymnasium, private dining facilities, massage treatment rooms, barbecue areas, a basketball court, golf simulator, indoor and outdoor dining spaces, sun lounges and extensive landscaping.

LPS Group is expected to start construction later this year.

Sherpa is already well advanced on construction of its debut Flourish project, Flourish Amargo, located just around the corner from Soleira. Meanwhile, Flourish Oasis, positioned opposite Amargo, recently commenced construction and has nearly sold out its collection of 47 apartments.

[smartcode_project_cta:default project_id=150017]

Sherpa unveils $500m mixed-use Palm Beach precinct, Flourish Soleira

Are mortgage holders set to get a reprieve from the RBA in 2026?

Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.

NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.

“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.

"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.

Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.

“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”

Dr Auld said inflation risks and labour market outcomes would be important to watch.

“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”

She said tighter financial conditions are expected to weigh on housing and activity.

“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”

Staff reporter

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