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The Brisbane property market has a strange feel about it at the moment, says Herron Todd White.
‘’It’s been sitting at the ready, almost taut, waiting for something to happen.’’
But the valuer says the reality is that a general sense of optimism - and a steady-as-she-goes time in the market - will generate modest gains for those willing to buy and wait.
Property in the Brisbane market has had a tough time of late. ‘’After a string of bad luck stories in the domestic and overseas economy - plus political turmoil at a federal level - Brisbane had the compounded hammering of the 2011 flood to help things limp along over the past five years, the valuer says.
‘’What we are now seeing is a growing sense of optimism around the nation in 2013. Numbers just released by Australian Property Monitors show a rise in property values across all capital cities with the majors – Sydney and Melbourne – among the strongest.
‘’The thing is, Brisbane has always traditionally lagged behind the likes of Sydney. ‘’
Herron Todd White says the APM June Quarter results show the median price gain for Brisbane houses as positive but tiny – certainly at a substantially slower rate than Sydney.
‘’The optimists among us might say we are due to start seeing better gains as the year progresses. Smart money might continue watching the NSW capital and to see if a trend is emerging.’’
Herron Todd White says while there is some confidence in property markets, buyers are often uncertain where fair market value lies.
‘’There has been an increase in the number of pre-purchase valuations being requested by buyers. This is a sign to some degree that buyers want to buy rather than just tire kick or hope to jag an absolute steal.
‘’So, our call is that sectors where fundamentals are good are the ones that will perform the best in the foreseeable future.  It’s no longer fair to say every sector is a buyers’ market.
‘’Our expectation for the rest of this year is one of quiet confidence - assuming there are no unforeseen shocks, with everything is pointing to a steady period with modest gains to be made for those willing to buy and wait.
‘’The hope is that we might see a return to normality, where capital gains are solid but not out of control. Boom time markets tend to have painful endings. Even agents would be keen to see a steady turnover, steady gains and some solid real estate fundamentals.’’
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Brisbane property market taut but optimistic: Herron Todd White

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The property market on the Gold Coast and Tweed areas has bottomed in the first six months of this year, according to Herron Todd White.  

This is being shown by a ‘’significant increase’’ in buyers in the marketplace than there were over the previous 12 months.  
The valuer says agents are reporting significantly higher traffic through ‘open houses’ at all ends of the market, and there are now fewer mortgagee-in-possession and receiver sales than in 2012.  
Agents are also reporting low stock levels, especially in the under $700,000 price bracket.  
Herron Todd White says most demand is coming from owner occupiers.
"However, we are now also seeing investors moving back into the market.  
"The top end, being the house market in the over $2.5 million price range and prestige unit market, remains tough with forced sales still contributing to downward pressure.  
"The $1 million to $2 million price range, however, appears to have bottomed and levelled out and this is demonstrated by a recent canal-front property at Bundall which went to contract in early 2013 for $1.925 million. This contract failed to settle, however, when it was put back on the market it sold within one week at $1,950,000.’’  
The valuer says waterfront housing in the $700,000 to low $1 million price range is also seeing increased sales activity. For example, at Benowa Waters the first six months of this year has seen 11 sales at $1 million plus, compared to only four sales during the same period in 2012.  
At Runaway Islands there have been four to five sales at around $1.25 million compared to no sales at this price level last year.  
"Over the past 12 months buyers in the middle to higher end residential market have generally been looking for modern dwellings which they can move into and not have to undertake any renovation works. This has generally been due to property values falling while construction costs have remained fairly firm.  
"Therefore, buyers see better value in buying modern houses which can be purchased for below replacement cost, rather than buying land and then building. This has put downward pressure on land values and, during 2012, vacant land was difficult to sell and saw significant falls in value.’’  
Herron Todd White says a promising sign during the first six months of this year has been renewed sales activity among vacant waterfront land. The valuer notes two sales in Sir Bruce Small Boulevard at Benowa Waters for around $800,000 when one of these allotments sold last year for around $600,000.  
It says there have also been sales of lakefront allotments at Emerald Lakes for around $650,000 compared to last year when they were selling for around mid $500,000.  
‘’The strength of the market over the past six months has generally been in the under $500,000 detached housing market where stock has been turning over quickly, with agents now reporting very low stock levels. In the under $400,000 price bracket the market in certain pockets has seen some firming in value levels of up to 5%    
‘’Even with this firming at the bottom end, the market still presents good buying. For example, in the Pacific Pines, Upper Coomera areas modern, four-bedroom, two-bathroom, double garage houses on 600 to 800 square metres can still be bought for between $400,000 and $500,000 -- which is below replacement cost.  
‘’The high-rise home unit market still remains tough with supply levels still outweighing demand, especially for units in the over $500,000 price bracket.’’  
Rising Body Corporate fees are also another issue impacting on market values of home units, especially in older style high-rise buildings, the valuer says.  
It points out that, although the construction of the light rail project is causing significant disruption between Broadbeach and Southport, there will be ‘’significant positive flow-on effects for real estate in the areas surrounding it.  
‘’Overall, the past six months have seen a more positive vibe occurring in the Gold Coast property market.’’
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Gold Coast and Tweed Coast residential market has bottomed in first half of 2013: Herron Todd White

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The NSW building industry is set to enjoy better prospects from 2016 onwards after a period of moderation, Australian Construction Industry Forum forecasts show.
This growth will outpace the other states, making NSW one of the most optimistic in the country.
<img height="408" width="470" src="/images/stories/2013/08/acif-chart-aug-14-five.jpg" alt="acif-chart-aug-14-five">
Residential building is a key part of the uplift-in-demand forecast, with strong growth over the medium-to-long term, the ACIF predicts. Notable in this uptick is a change in the types of housing that the NSW market is choosing – a good increase in apartments and townhouses.
Building and construction in non-residential work, including commercial premises, community facilities and more, are also looking positive for the state.
“The ACIF Forecasts point to NSW returning to a good rate of work after a number of years of struggle,” says ACIF executive director Peter Barda.
‘’Only Queensland shares this strong rate of growth over the medium term, with other states softening.’’
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NSW building industry has better prospects from 2016: ACIF

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If an escape from winter’s chill isn’t enough reason to shift up north, recent industry reports on the demand for building and construction work in the Northern Territory should convince many businesses to upstakes and go.
While many regions will experience varying outlooks across residential, non-residential building and engineering construction work, the Australian Construction Industry Forum’s latest report for the territory shows positive growth for all sectors over the short-medium term.
<img height="323" width="470" src="/images/stories/2013/08/acif-chart-aug-14-four.jpg" alt="acif-chart-aug-14-four">
The NT has enjoyed a sustained period of strong demand in engineering construction. While the peak has been crossed, the rate of work will remain at historically high levels over a long period. And this has a bump-on effect for other sectors, too.
“Construction staff and others working in mining, infrastructure and other engineering projects increase the demand for other building work. These businesses and their staff need housing, health services, entertainment and retail therapy, all of which benefit the region and the local building and construction industry,” says ACIF executive director Peter Barda.
“ACIF’s Construction Market Report shows that the Northern Territory will enjoy heightened demand across all sectors for much of the next decade, and when it does fall back it will be to levels that still offer good amounts of work for the industry.’’
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NT engineering construction has peaked, but set to remain at historic highs over a long period: ACIF

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Residential builders in Victoria have experienced a high level of activity over the past five years - the envy of all other states, according to the Australian Construction Industry Forum.
But the latest reports show that this level is about to fall back over the next three years.
<img height="396" width="470" src="/images/stories/2013/08/acif-chart-aug-14-three.jpg" alt="acif-chart-aug-14-three">
This may leave local home builders in Melbourne and Victoria lamenting their businesses’ decline when compared with past good times. But the better news is that, after a period of moderation, the residential building industry will resume good growth.
“It’s important for the Victorian building and construction industry to see the bigger picture and not to panic – the sky is not falling -  however the surging business they have enjoyed in the past will pull back to a more usual level,” says ACIF executive director Peter Barda.
“The ACIF Forecasts point to Victoria returning to pace with New South Wales, with Queensland close behind, cooling back from a surging local industry over the past five years,” he says.
“The Victorian building and construction industry can see the bigger picture of demand for their services by referring to good quality industry data.
“ACIF Forecasts are generated by data and facts, but also by local knowledge of what is really happening in the economic and social marketplace that drives Victorian building and construction.’’
The chart shows how a strong period for the Victorian residential sector has been out of kilter with the other states, and how it is returning to pace.
While the growth curve has changed, it is generally an upward trend for Victorian residential building.
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Residential building in Victoria set to fall back over next three years: ACIF

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The popular rhetoric that ‘the sky is falling’ on Queensland building and construction can’t be sourced back to fact, as data on upcoming demand shows good signs of an uplift in sentiment.
Industry forecasts by Australian Construction Industry Forum show that Queensland is one of several states where the overall trend across all building and construction work is positive.
<img height="377" width="470" src="/images/stories/2013/08/acif-chart-aug-14-two.jpg" alt="acif-chart-aug-14-two">
Some areas of work will need to get through some moderation in the short term, however, the outlook for the next decade is up,’’ VCIF executive director Peter Barda says.
‘’It is true that engineering construction has peaked, however the decline still leaves this sector at a historically high level even beyond 2022, so there is plenty of work yet to be done,’’ he says.
‘’The rate of growth in Queensland residential building work will outpace all other states, with forecast growth to be considerably higher than the aggregated Rest of Australia results.’’
Non-residential building work, which for most states is forecast to remain flat over the next few years, will enjoy sustained growth over the longer term in Queensland.
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Queensland building and construction data disproves "sky is falling" rhetoric.: ACIF

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While much of Australia is set to experience a flat to declining non residential building sector, recent industry forecasts show that Tasmania is set for an upswing in demand for non-residential work due to its unique set of factors.
“Demographics play a big part in this,” says Peter Barda, executive director of Australian Construction Industry Forum.
“An ageing population creates an increased need for aged-care facilities and health services. While the sharp uptick in demand for these assets will moderate when compared with the past decade, it will remain at relatively high levels.”
<img height="286" width="470" src="/images/stories/2013/08/acif-chart-aug-14-one.jpg" alt="acif-chart-aug-14-one">
The Tasmanian engineering construction sector also gets good news from the forecasts. Drivers in the local demographic are seeing, over time, an increase in the level of engineering work that may make interstate migration an option for some players.
Residential builders won’t be so pleased, though. ‘’A mild recovery is forecast, once we get through the next period of flat to declining demand,’’ Barda says.
The chart shows the relatively strong forecast for Tasmania’s non-residential sector compared to the outlook for the rest of Australia.
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Changing demographics creating opportunities for Tasmanian builders: ACIF

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Offering easy access to South Melbourne from all directions, Park Street is one of those streets that almost everyone who lives south of the Yarra has travelled along.
Linking Kingsway and St Kilda Road and close to The Shrine, Park Street takes a lot of through traffic to and from Domain Road and it’s on one of Melbourne’s major tram routes. It’s also the address of the hit TV series, The Block.
‘’Those looking to locate their business close to the city without paying CBD rates will find Park Street as good as it gets. Perhaps the best way to describe it is high profile, yet low key,’’ says Chris Curtain, a director at estate agents Lemon Baxter.
“This year has been notable for the good quality properties that have come onto the market in the South Melbourne/St Kilda Road precinct and 39 Park Street is another example that continues this trend.”
The four level office building of 1888 square metres on a 1078 square metre site is expected to fetch between $6.5 million and $7 million when it sells via an expressions of interest on September 5, says associate Nick Bade.
Built in the early 1980s and progressively refurbished over the years it has a vaulted foyer, ground floor office/showroom, three office levels plus parking for 27 cars at the rear.
Typical office floor plates are about 560 square metres except for the ground floor. The car park is accessed from Kings Place via a single driveway with a steel security boom gate.
The building’s mixed use zoning creates rental options, Curtain says. It has been successful in encouraging development of surrounding multi-level offices and multi-dwelling residential apartments.
Curtain says that out of the net lettable area of 1888 square metres the owner/occupier can access 887 square metres now. He says other tenancies with refurbished spaces and good natural light contribute around $384,330 per annum.
‘’With interest rates so low it would be cheaper to own than rent,” he says of the building which is ‘’the only one of its size currently being offered for sale in South Melbourne’’.
It has 18 air-conditioning units on the roof and a fully automated smoke detection system and traditional fire hose and real system.
Other comparable and recent South Melbourne office building sales:
<ul>
<li>
228 Albert Road South Melbourne, bought by a private investor in May, for $6.2 million
</li>
<li>
35 Market Street, South Melbourne, bought by a private investor in January, for $3.75 million
</li>
<li>
102 Dodds Street, bought by an owner-occupier last October for $8.87 million.
</li>
</ul>
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Park Street, South Melbourne mixed use offering

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The fledgling recovery in the Gold Coast industrial market is at risk as Gold Coast City Council prepares to end its Construction Kickstart program.
That is the conclusion of a new CBRE ViewPoint, which shows that industrial land sales and new construction projects are already in decline as they anticipate the program ending.
<img src="/images/stories/2013/09/04/yatala_sept_5.png" width="470" height="307" alt="yatala_sept_5">
CBRE Associate Director David Corke describes the report’s findings as ‘’extremely worrying’’ and he urges the council to extend the stimulus program to further bolster the industrial market and encourage new investment.
“While the program has been a great success, we are already seeing a decrease in land sales and design and construct projects across all Gold Coast industrial precincts as the program draws to a close,” Corke says.
“The past five years have been an extremely difficult period for the industrial market and there are tough times ahead.
‘’It would be great to see the Kickstart initiative continuing to maintain the momentum generated and to give Gold Coast businesses the confidence to expand while encouraging interstate businesses to locate in South East Queensland.”
The Kickstart initiative introduced last September aimed to boost industrial development which had been in the doldrums since the onset of the global financial crisis.
Two short term stimulus measures aimed to foster development:
<ul>
<li>
A 100% discount for transport, recreation facilities and storm water infrastructure projects with substantial commencement between October 2012 and the end of April 2013, to be finished by the end of March 2015.
</li>
</ul>
<ul>
<li>
A 50% discount for projects with substantial commencement between March and the end of September this year with completion by the end of March 2015.
</li>
</ul>
The timeframe of the 100% discount was extended by a month after poor weather at the start of this year.
Figures from Gold Coast City Council highlight a significant boost in activity during stage one of the program with 248 development applications approved and 170 projects starting by the deadline.
However, with phase 2 about to end, Corke says there are signs activity is declining, particularly in the Yatala Enterprise Area – the biggest industrial precinct on the Gold Coast.
“While receivers moved in on numerous large Yatala land holdings in the aftermath of the GFC, this market has now turned the corner,” Corke says.
“National and international companies are now moving into the area on a large scale, perceiving real benefit in locating midway between the Brisbane and Surfers Paradise/ Broadbeach CBD’s on the M1 Pacific Highway. However, this pick-up in activity could come under threat at the conclusion of the stimulus program.”
CBRE’s ViewPoint shows that 119 serviced industrial lots were sold in the Yatala Enterprise Area between 2007-2012.
<img height="307" width="470" src="/images/stories/2013/08/yatala_aug_26.png" alt="yatala_aug_26">
More than 50 sales were transacted in 2007, over about 25 hectares, with the average sale price $310 per square metre.
However, activity dropped to just five sales in 2010 and seven sales in 2011 – equating to just 4.2 hectares in total. The average value dropped to a low of $202 per square metres – about 35% below the 2007 peak.
The Construction Kickstart initiative helped drive 11 sales of serviced industrial land in 2012. While this is still modest, Corke says the area of land sold - 9.3 hectares - was the most since 2008. The average price recovered to $260 per square metres – the highest level since 2007.
That momentum continued into this year and CBRE has identified almost 80,000 square metres of likely development completions, including Caterpillar’s 59,000 square metre distribution centre almost ready after receiving a $500,000 fee discount under the Kickstart initiative.
Other projects to benefit include:
<ul>
<li>
Geofrabics completed 8500 square metre facility at 69 Motorway Circuit
</li>
<li>
Tradetools 4000 square metre development under way at 77 Motorway Circuit
</li>
<li>
Marbletrend’s 3700 square metre facility in the Access Business Park, and
</li>
<li>
Uni-Quip Australia with a 1200 square metre facility at 4 Binary Street,
</li>
</ul>
A further 60,000 square metres of new supply has been DA approved for mooted completion by the end of next year.
“The savings generated by Construction Kickstart have proved to be a key factor in the financial viability of many recent projects,” Corke says.
“This has encouraged new businesses into the Gold Coast market and given existing operations the confidence to expand. There would be clear benefits if the program was to be extended and we would urge the Council to reconsider the end-date of phase 2 to help further stimulate the Gold Coast market and encourage new investment into South East Queensland.”
Yatala precinct serviced industrial land sales: 2007-2012
Source: CBRE
The fledgling recovery in the Gold Coast industrial market is at risk as Gold Coast City Council prepares to end its Construction Kickstart program.
That is the conclusion of a new CBRE ViewPoint, which shows that industrial land sales and new construction projects are already in decline as they anticipate the program ending.
CBRE Associate Director David Corke describes the report’s findings as ‘’extremely worrying’’ and he urges the council to extend the stimulus program to further bolster the industrial market and encourage new investment.
“While the program has been a great success, we are already seeing a decrease in land sales and design and construct projects across all Gold Coast industrial precincts as the program draws to a close,” Corke says.
“The past five years have been an extremely difficult period for the industrial market and there are tough times ahead.
‘’It would be great to see the Kickstart initiative continuing to maintain the momentum generated and to give Gold Coast businesses the confidence to expand while encouraging interstate businesses to locate in South East Queensland.”
The Kickstart initiative introduced last September aimed to boost industrial development which had been in the doldrums since the onset of the Global Financial Crisis.
Two short term stimulus measures aimed to foster development:
<ul>
<li>
A 100% discount for transport, recreation facilities and storm water infrastructure projects with substantial commencement between October 2012 and the end of April 2013, to be finished by the end of March 2015.
</li>
</ul>
<ul>
<li>
A 50% discount for projects with substantial commencement between March and the end of September this year with completion by the end of March 2015.
</li>
</ul>
The timeframe of the 100% discount was extended by a month after poor weather at the start of this year.
Figures from Gold Coast City Council highlight a significant boost in activity during stage one of the program with 248 development applications approved and 170 projects starting by the deadline.
However, with phase 2 about to end, Corke says there are signs activity is declining, particularly in the Yatala Enterprise Area – the biggest industrial precinct on the Gold Coast.
“While receivers moved in on numerous large Yatala land holdings in the aftermath of the GFC, this market has now turned the corner,” Corke says.
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Gold Coast Council’s Construction Kickstart program recovery is at risk 

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An active buyer and seller of US real estate, AMP Capital Global Direct Property Fund, has paid US$29.4 million (A$32.7 million) for a CBD office tower in Sacramento, California.
The purchase is a nice fit for the fund which is this year focusing on ‘’top tier secondary markets poised for growth that are only just beginning to attract significant capital flows’’.
The building (pictured below) is walking distance from the California State Capitol building at 770 L Street. The 13-level, Class A office building of more than 15,600 square metres has a strong government and lobbyist tenancy profile.
<img height="313" width="470" src="/images/stories/2013/08/Sacramento-aug-16-one.jpg" alt="Sacramento-aug-16-one">
It has excellent green credentials, being one of only six non-owner-user buildings awarded LEED Gold certification in the CBD.
AMP Capital Global Direct property fund manager Tim Fallet said the property was attractively priced with the opportunity to add value.
“The Sacramento office deal is a high-quality property acquired well below average comparable sales over the past 10 years with some of the best vacant space in the market.
‘’We plan to offer prospective tenants attractive lease rates, providing a competitive advantage over landlords with a higher cost basis.
“Secondary office markets like Sacramento are poised for growth, driven by strengthening economies.
‘’We want to position ourselves ahead of the capital flows, de-risk the asset by capturing a good share of leasing activity to achieve a stabilised 90-95% occupancy profile and resell into a rising market to an investor hungry for core investments.’’
Mr Fallet says Australian real estate is in high demand. ‘’There’s a lot of domestic and international capital chasing local property, but the Aussie market isn’t big enough to absorb these capital spikes.
‘’As a result, a number of local super funds are considering an offshore strategy again and we are well placed to assist.’’
Mr Fallet says that while the fund ‘’currently has a buy-side bias to the United States, we have a watching brief on further investment opportunities in Europe and Asia”.
The AMP Capital Global Direct Property Fund gives Australian superannuation funds access to core and core-plus direct property investment opportunities in large, liquid and transparent offshore markets.
The fund invests in a strategic mix of international direct property assets across all the property sectors.
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AMP wholesale fund buys Sacramento office building for $32.7 million

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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