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A shortage of stock is likely to continue to affect the Sydney property market – especially in the up-to-$1 million price point, according to the Herron Todd White Residential report.
It states there is "trending consensus" among agents and prospective buyers of minimal numbers of properties for sale at the moment – the result of a normal shortage in the winter months and a reluctance by vendors to list in the lead up to Saturday’s election.
And these factors - combined with a new and emerging enthusiasm for property by eager buyers – is building towards a ‘perfect storm’ with low interest rates, improved consumer confidence and limited stock behind a coming sharp rise in values.
This is particularly evident in the low to mid-value range in many areas.
This change in market conditions is in sharp contrast to what was being described as a ‘stagnant market’ some months ago - even though rates were being lowered.
Herron Todd White says the lack of stock has a flow-on effect as fewer sales occur in a tightly held market. It says buyers’ agents are desperately seeking listings so they can be ready to pounce to take advantage of the low interest rates.
This is leading to ‘’positive’’ sales prices being achieved. One example is a Marrickville unit which sold 14 months ago for $435,000. The same agent has just resold it for $505,000 with no improvements. And there were no shortage of prospective buyers, with four bidders prepared to pay more than $500,000.
Herron Todd White predicts out-of-area buyers will continue to take advantage of better-value-for-money properties within greater western Sydney. Examples of strong sales include a fully renovated three bedroom, one bathroom house in outer western St Clair currently under offer for $502,000. This is said to be a record for a ’humble’ 1980s house in the area.
Another example is a modestly updated three bedroom, two bathroom house in north western Baulkham Hills. A $630,000 valuation was enhanced by minor internal updates with the property selling for $702,000.
Both these properties were sold within the first week of their campaigns with large numbers of buyers interested, many contracts being requested and multiple offers being made.
Herron Todd White says there’s been ‘’minor growth’’ in the $1 to $2 million price range which has been exacerbated by a shortage of stock. Areas like the Northern Beaches and North Shore are starting to show evidence of a rising market and improved buyer confidence.
‘’At the $2 million price point we start to see a more restrained market, although improved from this time last year. The eastern suburbs’ market has strengthened slightly at this price point with sales evidence suggesting some return of confidence.’’
So, we’ll have to wait until after Saturday to see if a post-election flood of properties onto the market can saturate some of the pent up demand.
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Sydney shortage causing market shift

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It’s getting easier to afford a house – and that’s official.
The latest Adelaide Bank/REIA Housing Affordability Report shows that housing affordability has been improving over the past two years, with the proportion of income required to meet repayments at 28.7% - the lowest in a decade.
“With the exception of the Northern Territory, all states and territories recorded improvements over the quarter, the largest being Queensland where the proportion of income required to meet loan repayments dropped by 1.9% to 26%,” Real Estate Institute of Australia president Peter Bushby said.
Because of its higher average incomes, the ACT is still the most affordable state or territory in  which to buy a home, and NSW remains the least affordable with the proportion of income required to meet loan repayments 5.6% higher than the national average.
“Despite relatively low average loan sizes and rents, South Australia is one of the least affordable states or territories in which to buy or rent,’’ Bushby said.
“Affordability has improved in all states and territories when compared to the same time last year, and, no doubt, the seven interest rate cuts since November 2011 have played a role.
“Variable interest rates declined 0.2 percentage points - from 6.1% to 5.9% in the June quarter – which is a decrease of 0.7 percentage points compared to the same time last year.
Also, the three year fixed rate fell by 0.3% over the quarter and 0.9% compared to the June quarter 2012, to 5.1%.”
Bushby said more effort was required to entice first home buyers back into the market. Measures could include stamp duty reforms, access to superannuation and first home buyers’ assistance.
"They made up just 14.6% of the owner-occupier market - a persistently low number compared to the long-run average proportion of 20%,’’ he said.
“Victoria had the largest jump in the number of loans to first home buyers over the quarter and Western Australia the largest over the year.”
Rental affordability also improved with the proportion of income required to meet rent payments decreasing slightly to 23.7%.
The figures showed it is now more affordable to buy than rent in Tasmania.
See the Adelaide Bank/REIA Housing Affordability Report at www.reia.com.au 
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Getting into the property market is becoming easier

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Property prices at Epsom, near Bendigo, are expected to receive a boost with the state government announcing plans for a railway station in the fast growing suburb.
The $7.76 million Epsom and Eaglehawk rail improvements project, to begin early next year, will provide easier access to transport for residents of the growth suburb seven kilometres north of the Bendigo CBD.
The station will be on the Echuca line, south of Howard Street, between the railway line and Station Street. It will be fully accessible and provide parking for 60 cars.
Transport minister Terry Mulder said the new station would encourage people to travel by train – rather than car – for trips to Bendigo, Echuca and Melbourne.
Growth areas such as Maiden Gully, Strathfieldsaye, Ascot-Epsom and Huntly have had significant residential development in more recent years and are attractive to couples and families seeking new housing opportunities.
Local real estate agent Andrew Murphy, of Mawby Real Estate, said the station would have a ‘’positive impact’’ on house prices in the Epsom-Huntly growth corridor.
‘’People like to be close to infrastructure, such as transport, roads, schools and shops, especially if they are young families.’’
He said Epsom was popular with first home owners and investors looking to take advantage of cheaper start-up costs. It has a shopping centre and sports fields. The new railway station would enhance these features.
Estate agent Adrian Robinson, of BRE Bendigo, said improved transport and communication were ‘’all good’’ for the area which was experiencing solid growth.
‘’Everything’s happening there,’’ he said. ‘’The area is popular with younger residents and investors and the new station will be right in among the shopping centre – it will be a community hub.’’
Murphy said the local real estate market was ‘’ticking along quite nicely’’ achieving 6% growth over the past 12 months, backed by strong population growth.
He said renters were seeking larger homes, with three bedrooms and a study, or four bedrooms, on decent size blocks, and paying around $350 per week.
He said often renters would move into an area, attracted by developments, such as the $600 million Bendigo hospital project. They would rent in the short term before ‘’getting established and opting to buy’’.
Bendigo, with a population of 110,000, is expected to grow by 36,400 in 2031 – up 33% over the next 18 years. The goldfield’s city is about one and a half hours north of Melbourne.
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Boost expected for property prices in Bendigo suburb

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Despite slightly fewer sales, the Albury/Wodonga median house price remains static – probably because vendors are not being forced to discount heavily and are not under pressure to sell.
The latest Herron Todd White residential market update shows there has been no increase in the numbers of mortgagee – or distressed – sales.
‘’Purchasers seem to be accepting that the asking prices are fair and reasonable and are not negotiating cheaper prices,’’ the update says, with ‘’many active buyers’’ in the marketplace. The update says this is particularly so in the popular areas of west Wodonga, Lavington, east Albury and central Albury.
The Albury median is $370,000 – similar to that reached before the 20007-2008 GFC. The Wodonga median of $250,000 has followed an identical pattern, the update says.
Herron Todd White says a ‘unique’ sales program held in the old Charles Sturt University consists of a number of large, old houses previously used for offices and teaching rooms. The 1930s buildings have nearly all sold with prices ranging from $500,000 to $550,000.
‘’They require considerable expense to convert back to dwellings but, once complete, will be quite desirable due to their location and character. Also on offer are vacant lots which are selling well and for higher than average prices.’’
The region is stable in terms of population, industry growth and climate/environment change, the update says. It appears to be well balanced. ‘’This should provide confidence and reliability for investors to project returns without a large range of risk factors.’’
With the railway line diversion the Wodonga CBD is undergoing a multimillion dollar redevelopment with focus shifting to a modern regional shopping and office location.
‘’It’s a pleasant region to work and play. Shopping, schooling and sporting options abound. Why would you want to work anywhere else?’’ the update asks.
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Prices remain static amid Albury/Wodonga sellers under no pressure: HTW

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Building activity in the apartment market is up on the back of what was, until recently, a healthy set of numbers, according to Herron Todd White.
And the feeling is good.
‘’More tradesmen released from fly-in fly-out duties returning to work in the Perth market has helped pull down construction prices and make some projects viable,’’ the valuer says.
‘’Developers are rushing to meet the demand for apartments, especially in the sub-$750,000 space, and developments from central Perth to far flung southern suburbs are on the market.’’
The valuer says that, when comparing apples with apples, valuers often can’t see what all the fuss is about with apartments.
‘’We see far more value in something with some physical land attached to it, rather than something that is all about air rights. In fact, we see it day in day out and it doesn’t make sense.
‘’Take, for instance, a new three-bedroom, two-bathroom detached brick and tile house on a cottage lot of circa 350 metres squared selling for the same price as a two-bedroom, two-bathroom unit in the same outer suburban area ...
‘’Unless, of course, the apartment is on top of vibrant retail shopping, bars, restaurants and a train station - which, more often than not, it isn’t.’’
The valuer says that, with more developer activity comes more stock – an increase in supply - right about the time when everyone is beginning to react to a cyclical fall in demand.
‘’So, expect to see some pain in the residential apartment market in about 12 to 18 months time.’’
Is it all bad? ‘’No’’, says the valuer. ‘’Western Australia is still the best state in Australia in which to live and, because we haven’t gone too hell for leather with development projects, we should fare better than most. Again.’’
There will always be pockets and properties which outperform market expectations - whether in a flat market or a good one. So, keep an eye on suburbs such as Bibra Lake, Kardinya, Willetton, Padbury, Duncraig, Woodlands and Fremantle, the report said.
Herron Todd White says buyers should focus on lot sizes, proximity to schools, transport linkages to the CBD or other places of work and recreation.
‘’If the house is a mess, buy a paint brush and invest some time and effort. Turn that little ugly duckling into a swan. Who knows, one day you might make some money on your property. Sometime... Down the track...
‘’Just relax Australia. Western Australia has got your back. We may be a bit tired, but we’ll take a short break and be back on top again soon,’’ the HTW reported concluded.
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Bibra Lake, Kardinya, Willetton, Padbury, Duncraig, Woodlands and Fremantle apartments ought outperform the Perth market: HTW

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The northern Melbourne suburb of Broadmeadows - indeed the entire 3047 postcode - ranks ninth on a list of Australia’s most mortgage delinquent postcodes for the June quarter.
Ratings agency Standard and Poor's found nine of the 10 worst performers were in NSW, with Port Stephens topping the list.
The data is collated from residential mortgage backed securities (RMBS) which allow lenders to raise funds by selling bundles of loans to investors. These mostly come from non-bank lenders and financial institutions and sub-prime and low-doc lenders.
Despite some high-profile former residents, ‘Broady’ – as it is affectionately known by locals – has struggled to overcome a ‘battlers’ reputation. This is, in part, generated by a lower household median income than the rest of Melbourne - $762 to $1,333.
The average selling price is $317,900 for houses and $272,400 for units, and the suburb’s median ranks 589 among 849 suburbs in Victoria.
The Broadmeadows median rent for houses is $306 per week and units $286.
The suburb has a higher than average population of those born overseas than Melbourne - 58% born here compared to 65% for the rest of Melbourne.  A high proportion are from Iraq 6%, Turkey 6%, followed by Lebanon 4% and the UK 2%.
The proportion of residents aged 5 to 19 is high at 24%, as is the proportion of residents aged 0 to 4 at 8%.
A high proportion of houses are rented (26%) and there is a high proportion of separate houses (87%).
Crime is disproportionately high, too, with an average rate of 8,032 per annum compared to the rest of Melbourne at 6,733.
Weekly incomes are disproportionately low: residents earning $150 - $249 weekly comprise 8.74% of the population, $250 - $349 (8.81%), $350 - $499 (9.12%), $500 - $649 (13.77%), $650 - $799 (7.58%), $800 - $999 (7.89%) and $1000 - $1199 (8.74%).
In July Property Observer wrote on a mortgagee sale when Melbourne’s cheapest auction sale price was in the northern suburb of Dallas. 

The four-bedroom, one-bathroom Barry Road house was listed by the mortgagees with a $220,000 to $240,000 price expectations.
It for $243,500 after Barry Plant Real Estate marketed the property to first homebuyers, investors and clinic operators.
The <a target="_blank" rel="nofollow" href="https://www.barryplant.com.au/glenroy/index.cfm?pageCall=property&amp;propertyID=2383151&amp;realestate=541_Barry_Road_DALLAS_VIC_3047">original 1960s brick veneer property</a> (pictured below) was previously listed for sale in July 2011 with a guide price of $280,000 to $290,000, but did not sell.
<img height="233" width="470" src="/images/stories/2013/07/dallasjuly10one.jpg" alt="dallasjuly10one">
Its feature built in robes in two bedroom, a large living area with open fireplace, modern kitchen, central bathroom, separate laundry and toilet, gas ducted heating, single car garage and wide side driveway. 

It last sold for $215,000 in mid-2008, reflecting 2.5% annual growth during the past five years. 

The median sale price for houses in Dallas is $270,000, down 8.9% in the past year, <a target="_blank" href="/news">according to RP Data</a>. 

Other recent sales include a five-bedroom property on Phillip Street selling for $365,000 in June and a three-bedroom house on Merino Avenue selling for $260,000 on 3 July this year.
Barry Plant Real Estate selling agent Halil Okur says while there was a lot of interest in the Barry Road property, it would need significant renovations to make it liveable.

“When we took over the marketing campaign, the house was vacant.

“It’s a run-down house. It needs a lot of renovation. When you walk into it, it literally stinks,” he said. 

The buyer was an investor and Mr Okur expects it will return a rental income around $300 per week once its renovated. It would then reflect a 6.4% yield

The contract for the sale had a Victorian Legal Aid caveat on its title.
It was the home of Charbiel Fram who was sentenced to three and a half years jail for attacking his former brother in-law at a Thomastown pool hall in 2010 and is currently awaiting sentencing over an assault at Crown Casino’s Fusion nightclub.
There is a mortgagee sale scheduled for September 7 with a one bedroom unit at <a rel="listingName" href="https://www.realestate.com.au/property-unit-vic-dallas-114532887">4/18 King Street, Dallas</a>.
It's marketed as "mortgagee in possession - an affordable start or excellent investment." 
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Broadmeadows among the top mortgage delinquent locations: Standard & Poor's

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Six to nine months of upside in the Perth residential property market has seen multiple offers on homes, properties staying on the market for only two or three days, and a low number of listings.
Well, that can’t - and it shouldn’t - last forever, according to Herron Todd White's latest residential update.
‘’That’s because property isn’t a frequently traded commodity. It’s not a share. It’s a place where families are sheltered and business is conducted and things are produced.
‘’Yet some people treat property with the same expectation as a Wesfarmers or Telstra share. They expect it to always go up and to provide a dividend along the way.
‘’They get very disappointed if there is talk that it will lose value. Some people get panicky about property and try to grab it and take control. Not letting reality sink in. These people are called investors.
‘’Others just see property for what it is, accept it and are not too worried or fussed about talk of market slowdowns or dips. They are called owner-occupiers or tenants.
‘’At the end of the day, property is not a share. It’s not an aeroplane either. It’s a thing that sits on a piece of dirt and has walls and a roof on it. As long as the piece of dirt is relatively clean and the roof doesn’t leak, all sorts of magic can happen from property.
‘’Sometimes babies are produced in them; at other times nice widgets are made in them and sold to other people.
‘’The residential sector in Western Australia is seeing a rate of take up unprecedented for many years which is now beginning to show signs of hitting turbulent air.’’
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Perth residential hitting turbulent air: HTW

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McGrath Estate Agents has opened its first regional office on the Sunshine Coast. The Buderim office expands its regional office footprint in south east Queensland to eight.
McGrath has grown its presence rapidly to 54 in Queensland since establishing on the Gold Coast in 2010. The central Sunshine Coast region, including Maroochydore, Mooloolaba, Tanawha and Alexandra Headland, has renowned beaches, rainforest and mountains an hour north of Brisbane. It is home to many attractive properties.
CEO John McGrath says the style and types of properties in the area, and their price points, fit in well with the company’s brand and there are many synergies with its client demographic.
“The Sunshine Coast is a highly attractive area and one of the fastest growing regions in Australia,” he says.
“The development of the Maroochydore Central Business District and the new Sunshine Coast University Hospital at Kawana indicate a high level of infrastructure investment which will boost demand for property and housing in the area.”
The population of the Sunshine Coast is expected to reach half a million within the next 20 years. It is well serviced by schools, universities and tafes, it is popular with families and tree/sea changers, and with retirees seeking an appealing lifestyle.
“The Sunshine Coast has always been on our agenda but we have taken our time to find the right partners who are well established in the area with the depth of knowledge and experience required,” McGrath says.
Co-principals Chris Pace and Damien Michael will run the Buderim franchise. They have worked from McGrath’s Bulimba office since leaving Next Property Group in June.
The Buderim office at 8-10 King Street will provide property management services and mortgage broking through Oxygen Home Loans.
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McGrath Estate Agents expands to Queensland's Sunshine Coast 

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Despite its close ties to the volatile mining and tourism industries, the median house price in the Broome area for the year ending in April rose 2.5% to $685,000. 
A Broome area overview, by researchers PRDnationwide, says the Broome housing market is in a price point ‘sweet spot’ -- despite minimal peaks and troughs since the high in October 2007 of $716,000.
It covers the suburbs of Bilingurr, Cable Beach, Djugun, Broome and Minyirr.
Broome is on the Kimberley coast of Western Australia on a narrow peninsula surrounded by the Indian Ocean and Roebuck Bay, about 2200km north of Perth. The area is famous for its landmarks and natural beauty, such as the dinosaur footprints at Gantheaume Point, Horizontal Falls, and Rowley Shoals, famous for their coral gardens and abundant marine life.
The Broome area’s undersupply of dwellings has led to an increasingly mobile fly in and fly out population working at nearby mines. Tourism plays a substantial role in the market, with Broome one of the most desired holiday destinations in Western Australia.
Due to the size of the market and low number of houses sold each year, the Broome area will not see any dramatic shifts in the median price anytime soon. The report found the housing market has remained healthy despite economic uncertainty since the GFC.
<img height="336" width="470" src="/images/stories/2013/08/broome-aug-26-one.gif" alt="broome-aug-26-one">
Sales activity over the past decade has softened by 7.8% per annum and from the six months ending April 2008 only 654 sales transacted -- down 38% on the previous five-year period.
Most house sales have been in Cable Beach (48%), Djugun (30%), Broome (20%) and Bilingurr, with 15 sales over the past five years, 2%.
Most house sales in the Broome Area were $100,000 either side of the closing median at April this year. The $600,000-$699,999 bracket had 32%, while the $700,000-$799,999 bracket had 29%.
<img height="337" width="470" src="/images/stories/2013/08/broome-aug-26-two.gif" alt="broome-aug-26-two">
At first glance, the report says, the Broome Area unit market looks volatile, yet seasonal activity and short-term rental opportunities have led the market to gradually improve prior to consecutive six-month declines up to April this year’s median of $390,000. 
The unit market is expected to grow in the immediate term with a number of multi-family developments in the pipeline. Not surprisingly, the report says the suburb most active in the unit market over the previous 12 months is Cable Beach with 75 of 156 unit transactions, followed by Djugun with 42 and Broome 28.
<img height="352" width="470" src="/images/stories/2013/08/broome-aug-26-three.gif" alt="broome-aug-26-three">
The Broome Area median for vacant land grew rapidly over 2007, however, unlike the house and unit market, the median for vacant land fell significantly during the GFC. Since then, the scarcity of available vacant land has spurred a rapid correction with the market returning to trend, closing the six months to April at $275,000.
Over the past decade the Broome Area market has grown considerably, driven by population increases, an influx of mining and tourism investment, and the high demand for vacant land. This growth, despite some inconsistency across the house, unit and vacant land markets, is a true reflection of where the market is at, the report says.
‘’While tourism and the mining sector remain strong - and while inventory levels in the Broome area remain tight - we will continue to see a sound residential market.’’
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Median house price rises in Broome despite volatility: PRDnationwide

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A report into the Sydney CBD unit market – focusing on Dawes Point, Haymarket, Millers Point, Sydney and The Rocks – has found that demand for new apartments was strong in the first half of 2013.
Investors and owner occupiers in the postcode 2000 suburbs are opting for one and two bedroom units, leaving sales of existing units subdued.
The Sydney CBD unit sales cycle graph points to steady activity over the 18 months to April 2013 with 385 transactions in the most recent period. This compares with highs of 985 transactions in October 2007 and 1002 transactions in October 2003. New apartments lifted the median price to $692,000 over the six months from October to April.
New apartments selling off-the-plan not included in the data are expected to boost the April 2013 six-month result, with five new projects at various stages adding 383 units to the existing stock.
<img height="379" width="470" src="/images/stories/2013/08/sydney-aug-26-one.gif" alt="sydney-aug-26-one">
The market overview, by researchers PRDnationwide, found the current market is attractive to a mix of local and overseas buyers, with those from overseas often using a 20%-30% deposit and finance of the balance from local financiers.
It found anecdotal evidence of strong demand for one or two-bedroom apartments, allowing buyers to alternate between an investment and owner occupation. Similarly, overseas investors who bought a residential unit for children attending university use it as a conduit to further investment in residential and commercial properties.
The study found residential construction in the 2000 postcode is mainly south of Druitt Street, with the exception of Eliza, a 19-apartment development on Elizabeth Street near Hyde Park. Haymarket has the highest number of units being built, with the Quay, a 240 mixed use development on Quay Street, and the Hing Loong Apartments, a 47 apartment project on the corner of Dixon and Little Hay Streets.
A positive outlook for Sydney is backed by an ‘’accommodative mortgage rate environment’’ – the report says - and improved investment in real estate as other asset classes show low returns or volatility.
March rental data points to little change in rents for the 2000 postcode. The median rent for a one-bedroom apartment of $600 per week represents a 12 month growth of 1.3%. Over the same period the median rent for a two-bedroom unit remains at $800 per week.
The gross rental yield for one-bedroom apartments ranged from 4.5%-6.6% for properties under $1 million, with similar returns for two bedroom apartments. Today’s lending rates allow investors putting down large deposits to recover most of their annual expense from their tenants.
<img height="355" width="470" src="/images/stories/2013/08/sydney-aug-26-two.gif" alt="sydney-aug-26-two">
While rental return is important, investors are usually searching for long-term capital growth. PRDnationwide Research’s resale analysis ascertains the average annual growth achieved by vendors who sold in the April 2013 half year period. It reveals an average appreciation of 3.1% per annum, with an average holding period of 6.5 years. PRDnationwide says moderate capital growth and higher rental yield compared to inner city suburbs outside the city centre is consistent with the traits of CBD investment.
The changes in mortgage demand chart shows a 13% increase in the 12 months to April 2013 in NSW.
The unit price point chart shows the April 2013 price strength with properties selling for at least $1.1 million accounting for 25% of sales, those less than $500,000 at 20% of sales, $500,000-$600,000 at 16% and $600,000-$700,000 at 14%. The upper figure of 25% compares with 22% in 2012.
The Sydney precinct recorded the highest number of units available for sale in the first half of 2013. The Sydney CBD unit days on market table highlights the 30 days or less bracket as the largest for the precinct, suggesting a good turnover of stock. Only 23% of the stock was advertised for a period of 120 days or more, compared with 33% for Haymarket and 50% for units in The Rocks.
The June quarter recorded the highest 12-month increase in the volume of mortgage inquiries since June 2010, with the Veda Consumer Credit Demand Index pointing to a 12 months growth of 13% for New South Wales. The figure reaffirms the market’s strength.
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Strong demand for Sydney CBD apartments: PRDnationwide

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.”

Stephen Taylor

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