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The June quarter Master Builders National Survey of Building and Construction has been described as 'disappointing'.

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It has seen builder sentiment reportedly drop back, leaving the industry 'in the doldrums'.
The survey of more than 450 builders and contractors across the country saw business conditions and business confidence take a step backwards after improving in the March quarter.
''There been no tangible recovery in the building and construction industry despite interest rate cuts and early signs of improvement in some Australian Bureau of Statistics indicators,'' Peter Jones, Master Builders Australia's chief economist, said.
"The survey reveals an industry bouncing around the bottom and, at best, indicates that business conditions may have troughed.
"The big question for builders is the timing of a substantive upturn. Promised improvement down the track does not help pay the bills in the here and now and is putting many businesses at risk.
Jones said survey results for display centre traffic and inquiries had fallen back in the June quarter but were still trending upwards after a sharp rise in March.
''There was a slight improvement in the sales index, but it remains below 50, meaning sales are not growing,'' he said.
"As a key forward indicator, a pick-up in display centre and inquiries is a hopeful signal that the market is slowly responding to lower interest rates and that the worst may be behind the industry.''
Jones said the Reserve Bank ''must retain its bias towards lower interest rates to accelerate the move to a sustained upturn in the industry''.   "The next Federal Government must also implement policies that help restore business and investor confidence which seems to be the missing ingredient at the moment."
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Building industry still in the doldrums: Master Builders

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Australian CBD office sales turnover rose by 24% over the past financial year compared with the previous 12 month period with demand being driven by unlisted wholesale funds, syndicates and AREITs.
“Emerging as a clear trend in 2013 was the return of the domestic buyer,’’ says Knight Frank’s national research director Matt Whitby.
Knight Frank found a significant increase in activity by unlisted funds and syndicates, rising from 23% of sales in 2012 to 44% of CBD deals in 2013 - a total value of around $3.08 billion in 2013.
Also, the listed AREITs’ share of the buyers' market jumped from 17% to 30% and, for the first time in many years, was clearly the biggest net purchasers of CBD office stock.
<img height="391" width="373" src="/images/stories/2013/larry_uploads/cbd_office_sales.jpg" alt="cbd_office_sales">
Source: Knight Frank
The Knight Frank research reveals that offshore groups have often been outbid over the past year, with domestic groups such as Mirvac, Investa, Charter Hall, DEXUS, GPT and the Motor Accident Commission of SA acquiring the lion’s share of the trophy office assets, although in most cases partnering with offshore investors.
Due to this stronger domestic demand for product, acquisitions by offshore groups have fallen from 37% to 18% over the past year.
“Due to the recent sharp fall in the Australian dollar and global share market corrections, this buyer group - although remaining active and seeking increased exposure - may remain in somewhat of a holding pattern until there are concrete signs of a stabilisation,” Whitby says.
He said following the $2.63 billion trough in 2009, there has been a consistent upward trend in CBD office sales volumes since then, reaching around $6.96 billion over the past financial year.
The Knight Frank research found a big increase in the number of CBD office sales greater than $100 million over the past few years, with the worst being in 2010-11 when only seven deals were clinched, compared to 20 over the past year.
This larger transaction activity has also been evident in non CBD/suburban markets, with four major office sales greater than $100 million over the past year - the highest in five years.
Whitby says the rise in transactions over $100 million reflected the recent trend towards local superannuation, AREITs and unlisted wholesale funds, as well as offshore groups, acquiring core, prime assets whether through joint ventures, capital partnering or directly.
‘’The return of the domestic listed groups to acquisition mode, assisted by their lower cost of capital, has allowed income accretive acquisitions. Notwithstanding the recent correction in share prices, AREITs are again raising equity to fund many of their recent purchases,” he says.
Despite the number of non-CBD/suburban office transactions sales increasing modestly, the total turnover by value is down 7% on last financial year.
“This is not surprising as purchasers have been seeking core, passive, mainly CBD assets over the past year, however, it should be noted that there was an increase in the number of large suburban office deals over the past 18 months.’’ Whitby says.
These include the Hines Global purchase of 825 Ann Street, 144 Montague Street and 100 Brookes Street in the Brisbane Fringe, and 465 Victoria Avenue in Chatswood. Groups such as Cromwell, REST, DEXUS and MGPA have also acquired large suburban assets.
“Unlisted and syndicates continue to be the biggest buyers of non CBD/suburban stock, acquiring $696.03 million and a third (33%) of all non CBD sales over the past year, while the always prominent private investors increased their exposure over the past year, climbing to 26% ($554.76 million) of sales compared with 17% last year,” Whitby says.
Knight Frank managing director of commercial sales, Paul Henley, says the increase in private investors has been driven predominately by markets such as St Kilda Road and Richmond in Melbourne, and North Sydney.
There has also been an increase in offshore buyers in non-CBD markets - from 16% to 25% - due to offshore institutional purchasers, such as Hines Global and MGPA, alongside Asian developers.
“Investment in the Melbourne non CBD/suburban market almost doubled over the past year, from $329.27 million to $635.21 million, increasing from a share of 15% to 30% of the Australian non-core total, primarily due to St Kilda Road and Richmond activity.
However, Sydney’s non-core office sector remains the standout by volumes, making up almost half (46%) of all transactions by value at almost $1 billion over the 2013 financial year,” Henley says.
 
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Domestic buyers return to Australian CBD office market: Knight Frank

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The sale of the former Amcor paper mill in Alphington for $120 million last weekend has been touted as the highest priced residential land sale in Melbourne’s history.
The 16.46 ha site fronting Heidelberg Road will become, according to Glenvill Homes CEO Len Warson, "a premium river-fronting community so well located and so close to the CBD.’"
His company will build a mini-suburb of high quality, medium density housing consistent with local neighbourhood character for around 3000 residents.  
Colliers International handled the sale, on behalf of Amcor, to a local consortium led by Alpha Partners Pty Ltd and the Glenvill Group. Colliers International’s John Marasco, managing director of capital markets and investment services, and Peter Evans, national director of corporate solutions, led the way.  
“This is the largest infill residential land sale in Melbourne’s history,” Marasco said. “Colliers International considers this the best development opportunity in Australia at present.”  
Amcor announced the sale, which is subject to regulatory approvals, to the Australian Securities Exchange yesterday.  
Guy Nelson, of Alpha Partners, said the site would become a sought-after residential development.
"I am very conscious of the history of the site and its significance to the local surroundings and was pleased to find a development partner such as Glenvill to help deliver what will be one of Melbourne's new premier residential addresses."  
Warson said the purchase underpinned Glenvill’s strong future growth prospects. “This is a once in a lifetime opportunity to develop a new landmark,’’ he said.  
About seven kilometres from the Melbourne CBD, the site abutting the Chandler Highway is handy to schools, retail precincts, hospitals and parkland. It has a Yarra River frontage of about 280 metres.  
“The holding is of such a size that its availability is unprecedented and its ultimate capital value, when complete, will represent the largest inner urban mixed use/residential project in Melbourne in recent decades, other than the Docklands precinct,” Marasco said.  
Amcor in 2008 announced plans to close the plant within three years. It was put on the market in 2009 and also in 2011 for a reported $200 million and ceased operations in late 2012. The company has since moved its recycling operations to a $500 million plant in Sydney, Fairfax newspapers say.  
Yarra Council initially rejected Amcor’s request to change the planning controls due to concerns that this would diminish the community’s chance to have a say on future development at the site.  
However, the council and Amcor have since agreed on plans that would be consistent with community expectations, and secure greater protections around building heights, heritage and the Yarra River, as well as a requirement that 5% of housing is made "affordable".
Other large former industrial sites in Melbourne – such as Edgewater (the former ammunitions factory at Footscray), Waterford Green (the former ordnance factory at Maribyrnong), the Kodak site in Coburg, and the Kew Cottages site are reportedly also being redeveloped.
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Record $120 million residential land sale at former Amcor Alphington site 

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Despite a volatile political climate, softer economic conditions and concerns about our ability to fund our retirements, we are happier, according to the National Australia Bank’s latest Australian Consumer Anxiety Index.
The index rose from 6.2 in quarter 1 to 6.6 in the June quarter when all survey questions:  satisfied life, worthwhile life, happy yesterday and not anxious yesterday - rated higher.  
And, it appears, those happiest:  
<ul>
<li> Live in Western Australia  </li>
<li>Live in rural towns or the bush  </li>
<li>Earn over $100,000  </li>
<li>Are over 50  </li>
<li>Are married  </li>
<li>Have children  </li>
<li>Live in a household with two people  </li>
<li>Are well-educated  </li>
<li>Are retired  </li>
<li>Are in professional employment.  </li>
</ul>
The results show much lower anxiety in WA (partly offset by lower wellbeing in all other categories) and that rural areas have replaced capital cities for highest wellbeing.  
Wellbeing has declined in the $75,000-100,000 income group. There are much lower anxiety levels among women, and there is a general decline in wellbeing scores for widowed people.  
Wellbeing is now higher in households with kids compared to those without, and there’s been a big rise in wellbeing in single households but much lower overall wellbeing reported by labourers. 
A deeper look at the data also indicates a big fall in those expressing “very low” wellbeing, and an increase in those rating their wellbeing “high”. 
Sadly, over 26% of respondents identified themselves as being highly anxious, although this was down from more than 30% in the first quarter. 
The NAB’s Quarterly Consumer Anxiety Index found that consumer anxiety fell in June in line with moderating concerns about future spending/savings plans. 
The index measured 6.0 points in Q2, down from 6.3 points in Q1. There is still large variance in anxiety levels around the five survey questions underpinning the index: job security, health, ability to fund retirement, cost of living and government policy. 
But consumers still rate cost of living as their main cause of anxiety (ahead of government policy) but less so than in Q1. Job security is still of quite low concern despite softer forward labour market indicators. 
Anxiety was typically highest among consumers living in Queensland or Victoria, residing in rural towns or the bush, earning less than $35,000, are female, are aged 30-49, are divorced, have no children, live in a household of two people, are not employed or retired, and work as labourers. 
Since the March survey, the latest results show Victoria and WA are the only states reporting higher concerns over job security, regional areas are less anxious about living costs and retirement, anxiety has risen for those earning less than $35,000, women are less worried about job security and retirement, and more people aged 30-49 are worried about living costs and retirement.  
Overall, anxiety has risen for widowed people, those with kids are worrying less about living costs/retirement, health has become a bigger issue in three-plus person households, and retired people are the most anxious about government policy. ‘Other’ workers reported a big fall in their anxiety. 
Significantly, more than one-third still rate anxiety ‘high’ for government policy and cost of living. 
And, while almost one-quarter of consumers remain very worried about their ability to fund their retirement, concerns have eased.  
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Australians are happier despite softer economic climate

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Sales at the much vaunted Ebony development of 123 apartments at 347 Camberwell Road, Camberwell are so strong that 95% of the apartments are pre-sold six weeks out from its launch.
Agent John Kravaritas, from Knight Frank, says its a  "sleek new neighbourhood" 200 metres up from the Junction opposite the library.
‘’It is going so well that we may even do a stage two smaller development at the rear.’’
Ebony is a mix of one bedroom, some with studies, two-bedroom and three bedroom apartments. Prices range from $385,000 to $860,000. The apartments come with car parks, storage areas and private gardens. Ebony’s two-bedroom apartments, that were listed from $499,000, include a car park and storage area.
Set over five levels the apartments have designer finishes and balconies. Kitchens have marble splashbacks, stone bench-tops, European smoked oak floors, 3D bathroom feature tiles and heating/cooling.
There’s even a shared residents’ vegetable garden for vegies and herbs.
Architects Carabott Holt Turcinov designed the $66 million development by the Vero Property Group. It’s about eight kilometres from the CBD.
<a href="https://www.ebonycamberwell.com.au/" target="_blank">The development</a> will be finished around Christmas next year.
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Strong sales for Ebony development on Camberwell Road

A big crowd turned out on Saturday for the weekend auction of Natalie Bassingthwaighte&rsquo;s Elwood period investment property.

Five bidders fought it out from a starting bid of $850,000 followed by a vendor bid of $1 million. The auctioneer took increments of $20,000, $10,000, $5000 and then $1000 until the property was passed in at $1.18 million.

Matt White, of Ray White Port Phillip, said negotiations then continued inside until the deal was clinched at &quot;more than $1.2 million&quot;. He would not disclose the exact price.

White said a Brisbane-based banker bought the property and his family will alternate between there and Elwood.

Bassingthwaighte - a&nbsp;pop singer, actress and X Factor Australia&nbsp;television judge - bought the Clarke Street investment property for $595,000 in 2005.

The three-bedroom, two-bathroom period&nbsp;home has an open plan living/dining area opening to a covered deck with open fireplace and&nbsp;courtyard. It has Miele kitchen appliances with breakfast bar, corian bench tops and&nbsp;concealed fridge/freezer.

An upstairs parents&#39; retreat comes with dressing room and en suite bathroom through to a nursery/study.

Features include&nbsp;hydronic heating, air conditioning, Bose surround-sound, under-stair storage, ceiling roses, chocolate-toned floorboards and&nbsp;plantation shutters.

Bassingthwaighte and her husband, former Rogue Traders band mate, drummer Cameron McGlinchey, has reportedly spent about $2.25 million on a four bedroom, two bathroom Federation house on&nbsp;one of&nbsp;Brighton&#39;s top 10 streets. It&rsquo;s 400 metres from&nbsp;the beach, Church Street shops, cinema and railway.

A&nbsp;neighbouring three bedroom, one-bathroom house in Clarke Street sold for&nbsp;$896,000 in May 2010.

Last year Bassingthwaighte&nbsp;sold her Elizabeth Bay apartment in Sydney for $850,000.

Natalie Bassingthwaighte's Elwood period investment property sells at auction

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Tasmanian MP Julie Collins has been promoted to federal cabinet as minister for housing, homelessness and the status of women in the new-look Kevin Rudd ministry.
She is the sixth housing minister in Rudd-Gillard governments, replacing Mark Butler who took over from Brendan O'Connor, from previous ministers being Robert McClelland, Jenny Macklin and Tanya Plibersek.
Ms Collins is one of three women elevated to cabinet in Mr Rudd's latest reshuffle. They bring the total number of women to six, with newcomers Victorians Jacinta Collins (mental health) and Catherine King (regional Australia) joining Senator Penny Wong, Jenny Macklin and Tanya Plibersek. Ms Collins, who turns 42 on Wednesday, has held the Tasmanian seat of Franklin since 2007. She was previously the minister for community services, indigenous employment and economic development, and the status of women, in the Gillard governments.
"This is a strong team, I am proud to lead this team," Mr Rudd said.
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Julie Collins appointed new federal housing minister - the sixth in the Labor Government 

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It’s a case of good news and bad news for eligible Victorian first time property buyers from today.
The first-home owner grant is increasing from $7000 to $10,000 for those buying new homes, but is cut completely for buyers of existing homes.
Along with the boost to new home grants the state government will fast-track stamp duty cuts, bringing them in six months ahead of schedule.
These will increase from 30 to 40% on homes valued up to $600,000. The combination of a $10,000 First Home Owner Grant and stamp-duty cut means buyers of new home for $400,000 or less will save more than $16,500.
Treasurer Michael O'Brien forecasts the move will help create more jobs in the housing-construction sector.
"Targeting the grant to newly constructed homes - whether in regional Victoria, Melbourne's growth corridors or new CBD apartments - will stimulate the economy and create jobs in the construction sector," Mr O'Brien says.
"These measures will promote more housing construction, leading to more employment, greater housing supply and reduced residential price pressure for Victorian families."
First-home buyers looking to buy established property for, say, $450,000 will benefit only from the stamp duty concession worth $7588, which the Government says offsets the $7000 grant previously available.
Last Nevember the Real Estate Institute of Victoria chief executive Enzo Raimondo says the majority of first-home buyers would not receive the grant.
"I think that first-home buyers should be treated equally," he said.
"I understand that the Government is trying to stimulate construction but most first-home buyers buy established homes and it is unfair that they will miss out on the full savings."
“Overall, the cut is good news for those buying their first home and it will be worth an additional $2377 on a home valued at $530,000.  
‘’This will bring the total stamp duty cut on the median priced home from $4754 to $7131,” Mr Raimondo said.
But Mr O'Brien said the changes will boost construction and ease housing pressures.
"We want to see more jobs and we also want to make sure we have more housing stock to meet the needs of a growing population," he says.
Mr Raimondo says first home buyers should realise that homes bought with 60 day settlements are eligible to benefit from the lower stamp duty because they pay stamp duty on settlement – not when they sign a contract.  
“Settlement occurs on the day the balance of the purchase price is paid and the property’s title document is handed over to the buyer.’’  
“This is unlike the First Home Buyer Grant, which applies from the date the contract is signed.’’
From September 1, 2014, all first-home buyers will benefit from a 50% stamp duty concession.
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New financial year brings mixed news for Victorian first-home buyers

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An unidentified Brisbane investor has bought the vacant Ocean View development site at 552 Charlton Esplanade, Urangan, Hervey Bay for ‘’under $500,000’’ post-auction.
The medium density residential zone property of 736 square metres, near Peppers Resort, has medium use potential, subject to approvals.
Knight Frank Brisbane selling agent Jason Degn sold the property after the recent receivers’ sale but declined to reveal the exact price.
‘‘It will probably go to shops with residential upstairs.
"The buyer is in no hurry to redevelop,’’ he said.
The site has had a chequered sales history. It was sold for $742,500 in 2010 and slightly more, $742,654, in 2006. 
This time around the receivers were happy to accept a cash deal.
Another receivers’ sale at Urangan has not yet been so successful. The vacant block at 67 Moolyyir Street was passed in without a bid when auctioned also by Knight Frank Brisbane last month. The receivers Ginette Muller and John Park have asked that the asking price be withheld. It was listed late 2012 with $410,000 plus gst expectations.
The 3734 square metre site was bought for $400,000 in 2004. It was initially listed with $1.5 million asking price in 2007, which was reduced to $980,000 during 2009.
‘’The site is suitable for low residential development," listing agent John Bone said.
"This part of Hervey Bay is particularly active at the moment. We’ve sold a lot of stuff over the past 12 months.’’
The low density residential site is not far from the Hervey Bay marina. It has development or subdivision potential, subject to approvals.
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Hervey Bay development opportunity sold, but not in a rush

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Tasmanian motoring group the RACT has ‘’taken an exciting first step’’ into the tourism and leisure market. It’s teamed up with the Victorian RACV to buy the Grand Mercure Hobart Central Apartments for about $25 million.
RACT chief executive Harvey Lennon said the four and a half star, nine storey development which opened in 2012, would be renamed the RACT/RACV Hobart Apartment Hotel.
The Collins Street hotel is behind the historic Hadleys Hotel, also expected to change hands to new owners for about $10 million.
Receiver KordaMentha is selling the properties after their owner, the Doherty Group, came under pressure from lenders.
Under the new joint venture arrangement, the hotel will be operated by the RACV after the new hotel opens in September.
Tasmania is a popular destination for Victorians, who according to Tourism Tasmania, make 320,000 visits to Tasmania a year.
Some seven out of 10 of these visits are for a holiday and 77% incorporate Hobart.
RACT's 184,000 members will directly benefit from a 25% discount off the non-member rate.
The hotel comprises 125 rooms including one and two-bedroom apartments and studios, a restaurant, several conference and event spaces, on-site parking and a gym
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RACT and RACV buy Grand Mercure Hobart Central Apartments

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.

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<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."

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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.

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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.

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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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