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

Joel Robinson

Juliet to sit quietly amid Roseville apartment boom

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

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

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

Mortgage relief? NAB forecasts RBA rate cut, not hike, after softer economic conditions

A local downsizer has splashed $6.5 million on a penthouse in Perifa's Alex &amp; Willow development in Crows Nest. 
&nbsp; 
The purchaser sold their long-held family home in the area before embarking on a six-month search for the right apartment. After inspecting a range of options across the Lower North Shore, the buyer returned to <a href="https://www.apartments.com.au/new-apartments/alex-willow-crows-nest-82-90-alexander-street-crows-nest-nsw-2065">Alex &amp; Willow</a>. 
&nbsp; 
The buyer profile reflects the project’s broader purchaser mix. <a>Alex &amp; Willow</a> has attracted predominantly local downsizers looking to transition from larger homes without compromising on space or quality, alongside a smaller cohort of upsizers and investors drawn to the project’s location and design credentials. 
&nbsp; 
The milestone sale comes as the project, developed by&nbsp;<a href="https://www.apartments.com.au/developers/perifa">Perifa</a>&nbsp;and delivered by <a href="https://www.apartments.com.au/builders/versatile-made-construction">Versatile Construction</a>, both part of Versatile Group, reaches 60 per cent sold.

[smartcode_project:default project_id=6680 project_image_fid=371325] 
&nbsp; 
Eddie Mansour, Managing Partner of <a href="https://www.apartments.com.au/project-marketer/ray-white-projects">Ray White Projects</a>, said the result demonstrates not only a headline price but also depth of demand. 
&nbsp; 
“This is an exceptional outcome and a clear reflection of sustained buyer demand for premium, well-located downsizer product,” Mansour said.

“We’re seeing a consistent pattern of local homeowners selling family residences and reinvesting into high-quality apartments that allow them to remain within their community. Alex &amp; Willow has resonated strongly with this group because it offers genuine scale, thoughtful design and immediate proximity to the village.” 
&nbsp; 
The sale reflects a broader and consistent trend of local downsizers actively seeking high-quality, low-maintenance residences close to established village centres. Agents report that demand for this product type has remained resilient, particularly where developments offer a rare combination of scale, design quality and walkable amenity. 
&nbsp;&nbsp; 
Fabrizio Perilli, Managing Director of Perifa and Versatile Group, said the sale marks a defining moment for the project. 
&nbsp; 
“The penthouse sale is a strong endorsement of the quality we have delivered, alongside our partners, and the clear demand from local downsizers for premium, boutique residences in this location,” Perilli said.&nbsp; 
&nbsp; 
“Most importantly, we’re proud to see the Alex &amp; Willow community beginning to take shape. As we move closer to completion, we’re looking forward to welcoming residents and seeing the project come to life.”&nbsp;

[smartcode_project:default project_id=6680 project_image_fid=338516] 
&nbsp; 
Designed by <a href="https://www.apartments.com.au/architects/nettletontribe">Nettleton Tribe</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/richards-stanisich">Richards Stanisich</a>, Alex &amp; Willow is a boutique collection of generously sized two- and three-bedroom residences in the heart of Crows Nest village.&nbsp;

Completion is slated for early 2027.

[smartcode_project_cta:default project_id=6680]

Alex & Willow, Crows Nest penthouse sells off the plan for $6.5 million

Fresh from launching the first stage of its Wollongong precinct, <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place</a>, builder-developer Urban Property Group has unveiled plans for the next phase of the masterplanned community.

Now on public exhibition through the NSW Government's Housing Delivery Authority pathway is a State Significant Development Application for a further 657 homes on the prominent gateway site opposite Beaton Park.

The proposal comprises three buildings, including two build-to-sell towers rising 25 and 30 storeys, delivering 391 apartments, alongside a 12-storey co-living building with 266 residences, making it one of the largest co-living proposals currently planned in regional New South Wales.

Of the apartments proposed in the build-to-sell towers, the majority, 310, are two-bedroom dwellings. The balance comprises 44 one-bedroom apartments and 37 three-bedroom residences. Apartment sizes range from around 50 sqm for one-bedroom homes to approximately 90 sqm for three-bedroom apartments.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="19347059-1612-41a0-9c74-b86a657237f8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%2010.02.18%E2%80%AFAM.png?VersionId=sWXnaCcA.cIC6N8YT1dg5pJ2e1V3Z6z7" />

The submission says the proposal has evolved significantly from its original Housing Delivery Authority application following extensive consultation with the State Design Review Panel and Wollongong City Council.

The final scheme has been designed to align with the emerging vision for the Flinders Street Precinct, an area identified by Council as a future high-density mixed-use neighbourhood capable of accommodating substantial housing growth close to transport, employment and community infrastructure.

According to the design report prepared by COX Architecture, the development aims to "deliver a built outcome consistent with the future character of the Wollongong CBD while responding to the site's unique constraints and opportunities."

"Our vision for the next phase of the site evolution in Wollongong is grounded in three design pillars that guide the design response: place, natural environment and celebration," COX said.

"Inspired by its surroundings and grounded in the stories of place on Wodi Wodi Country, the design proposal acknowledges the established character of its setting while creating a unique and timeless identity that sits harmoniously within it.

"The design proposal responds to its specific site conditions, acknowledging the vegetation, climate, wind conditions and solar access of the site."

The architecture responds directly to the site's position between Wollongong's urban core and its natural landscape setting.

COX identified views towards Mount Keira and the Illawarra Escarpment as defining features of the site, while the upper levels of the towers will also capture expansive views across the city and out to the Pacific Ocean.

The design team has positioned the tallest buildings closer to the rail corridor, where overshadowing impacts can be better managed while establishing a landmark built form on the northern approach into the city.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="79580d5b-500c-4ebf-9629-797146a4a694" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%209.51.59%E2%80%AFAM.png?VersionId=WbTB1EKSG.KDfsfz0F3wp1QVa2oCMGR5" />

Urban Property Group secured the 11,000 sqm Smith Street site in 2022 and has since progressed plans for the broader Keira Place precinct.

Construction recently commenced on the first stage of Keira Place, which will deliver 150 apartments across two residential buildings, including 27 affordable housing apartments and 18 specialist disability accommodation dwellings, alongside activated ground-floor retail and commercial space.

Urban Co-CEO Patrick Elias said the commencement of construction marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/groundbreaking-marks-start-of-construction-at-keira-place-in-wollongong-cbd">Groundbreaking marks start of construction at Keira Place in Wollongong CBD</a>

&nbsp;

&nbsp;

&nbsp;

Urban Property Group unveils trio of towers for next stage of new Wollongong precinct, Keira Place

Property market

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Melbourne ranks as the strongest auction market around the capital city markets recording the highest preliminary clearance rate at 79.4 per cent.
There were the 676 reported auctions sold, CoreLogic calculated.
There were 816 Melbourne properties taken to auction across the city, up from 756 last week when the final clearance rate was recorded at 74.9 per cent.
Over the same week last year, 572 Melbourne auctions were held and a clearance rate of 71.6 per cent was recorded.
The strongest success rate was in Melbourne's North West region, where 90.1 per cent of the 71 reported auctions were successful.
Melbourne's top sale was a Balwyn North offering that sold for $2.668 million as a development site.
Located at <a href="https://www.realestate.com.au/sold/property-house-vic-balwyn+north-125761814" target="_blank">1120 Burke Road</a>, (above) the 993 sqm property with three bedroom 1950s home is surrounded by apartments and townhouses complexes.
The property, which last sold in 1980 for $65,000, was offered through Noel Jones agents David Fileccia and Greg Bowring.
Melbourne's highest home sale was a <a href="https://www.realestate.com.au/sold/property-house-vic-fitzroy-125806890" target="_blank">six-bedroom Georgian-style home</a> at 201 Gore Street, Fitzroy that Domain reported sold to an upsizing family from Northcote for $2.59 million.
Sydney was host to 613 auctions with a 74.9 per cent clearance rate, rising from 69.2 per cent last week across 609 auctions.
"The final clearance rate for Sydney has been trending below 70 per cent for the last six weeks, although it has been nudging higher over the last two weeks," CoreLogic noted.
Sydney's top sale was an award winning house at Manly on the Northern Beaches which fetched $5.2 million.
Located at <a href="https://www.realestate.com.au/sold/property-house-nsw-manly-125714870" target="_blank">5 College Street</a>, the 695 sqm property won the Building Designers Australia award in 2012.
The interiors designed by Hare + Klein have featured in numerous design magazines.
James Cooper of Sanctum Design envisioned the coastal contemporary residence near Manly Beach in Sydney to capture the essence of a relaxed 1950s beach shack in a modern suburban beachside setting.
As well as the Premier's Award for Design Excellence, the beach house won for New residential buildings over 450 sqm.
There were six bedrooms and four bathrooms with the master suite having its own ensuite and balcony.
There was also a self-contained studio/guest apartment.
Outside in the landscaped gardens is a fire pit and heated lap pool plus spa.
The property was offered through Clarke &amp; Humel agents Michael Clarke and Cherie Humel.
Seven of the 15 Sydney sub-regions recorded clearance rates above 75 per cent with the stand out being the Northern Beaches at 92.3 per cent.
In the Eastern Suburbs around 89.2 per cent of listings found buyers, followed by North Sydney and Hornsby (83.6 per cent) and City and Inner South (78.3 per cent) regions.
The combined national capital city preliminary clearance rate rose to 74.8 per cent this week, up from a revised final clearance rate of 69.4 per cent last week, while auction volumes increased week-on-week.
There were 1,712 properties taken to auction this week, up from 1,627 last week, and higher than this time last year, when 1,329 auctions were held and a clearance rate of 67.9 per cent was recorded.
All but Adelaide saw the clearance rate increase week-on-week.
In Adelaide, a 69 per cent preliminary result was recorded across 73 auctions.
Last weekend, the 64 Adelaide auctions returned a clearance rate of 69 per cent for the city.
A sandstone Rose Park house sold for $1.605 million making it Adelaide’s most expensive weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-house-sa-rose+park-125882334" target="_blank">8 Hewitt Avenue</a>, the 1900 three bedroom property last sold in 1995 for $307,500.
The preliminary clearance rate in Brisbane rose to 50.6 per cent, from 41.7 per cent last week. Auction volumes were slightly higher this week with 126 auctions held, up from 116 last week.
A two bedroom Indooroopilly unit sold for $292,500 making it the nation's cheapest weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-unit-qld-indooroopilly-125804670" target="_blank">3/55 Central Avenue</a>, the 97 sqm property is one of only six in the block.
It was last sold in 1993 for $125,000.
Perth’s clearance rate of 73.3 per cent across 15 auction results was up from last week, when 35 auctions were held and a clearance rate of 46.2 per cent was recorded.
Over the same week last year, the clearance rate was a lower 33.3 per cent, and 22 auctions were held.
Across Canberra, 46 homes were taken to auction on the weekend.
Preliminary results show a clearance rate of 73.3 per cent, up from 68.9 per cent the previous weekend.
A Forrest house sold for $4.22 million making it Canberra’s most expensive weekend auction sale which sold through Peter Blackshaw agent Mario Sanfrancesco..
Located at <a href="https://www.realestate.com.au/property-house-act-forrest-125816690" target="_blank">5 Moresby Street</a>, the property last sold in 2001 for $2.14 million.
 
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j.ballantyne1990-6AQqhLzZaK

Melbourne ranks as the strongest capital city auction market

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There were more homes for auction in Melbourne and Sydney in the past six months than at any time over the past two years.
Over the first six months of the year, Sydney had 16,370 auction listings, a 29 percent increase on the 12,708 over the same period last year.
It was also a 5.7 percent gain on the 15,486 of the first six months of 2015, Domain Group figures show.
Melbourne showed a similar pattern, with 18,175 auction listings in the first half, a 13 percent gain on last year's 16,083 and 10.2 percent higher than the 16,486 in the first half of 2015.
The increase in auction listings from last year is partly due to the quiet start of 2016, when owners delayed putting their homes on the market after a surprisingly quiet final quarter of 2015, when prices fell fell in the two largest cities and the average auction clearance rate fell from 73.4 percent in the September quarter to 62.1 percent.
There was also a Federal election that interrupted the 2016 market.
"There's been a real rush into the marketplace this year for both Melbourne and Sydney," Domain chief economist Andrew Wilson told Domain.
"The market did rebound with lower interest rates last year and the end of last year was quite strong for markets.
"Perhaps there's also a sense of the market peaking."
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More 2017 property auctions than in the past two years

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GUEST OBSERVER
The latest CoreLogic data shows the home value index increasing by 2.21 per cent in Sydney for the month of June, while auction clearance rates have consistently sat under 70 per cent.
Matt Lahood explains the latest market conditions, looks at the first home buyer concessions and talks important taxation changes.
The market to date
While some conditions have remained unchanged from last month, like reduced bidding heat at auction, the numbers through our open homes are strong and the value of homes in Sydney has increased by 2.21 per cent, according to the latest CoreLogic figures for the month of June.
I see two levers being pulled in the marketplace at the moment. There’s more stock coming on for sale in certain Sydney areas, which leads to greater buyer choice and the normal seasonal lull that settles in during winter.
There has been a significant jump in appraisal demand, which assumes people are gearing up for spring. An important factor to consider is that the Sydney market will slow for a few weeks given school holidays. Homeowners are naturally hesitant to open up their home when children are off from school or may take an annual vacation.
Don’t forget, the new ATO taxation rules on sales above $750,000 requiring a clearance certificate kick in this Saturday July 1st. This is part of the capital gains withholding changes affecting foreign ownership in Australia, the clearance certificate confirms you are an Australian resident. The clearance certificate must be obtained prior to settlement to prevent the 10% non-final withholding.
<h2>First home buyer concessions</h2>
The first home buyer stamp duty concessions also take effect this Saturday July 1st. First home buyers will be stamp duty exempt for purchases on new and existing builds up to the sale of $650,000 and be given stamp duty relief for purchases up to $800,000.
There has been speculation that the slight market dip could have been impacted by the July stamp duty concession release date and that post July 1st things will kick off again. In my view, we will not see any kind of major price shift due to the stamp duty concession, first home buyers just don’t have the market depth, or bargaining bandwidth. What the stamp duty concession will do is get them back into the market if they were going out of it and give them the confidence to stay in the market.
Investors and first home buyers will always be competing within these housing price brackets and investors have not gone out of the market. In fact, the main trend I have seen is people putting their superannuation into property. I believe the upward pressure on property pricing has come from property investors and this has been more evident since super was released for property purchases. Investing in property is seen as a more secure and lucrative investment than shares.
<h2>Census statistics say it all</h2>
Australian homeownership rates are close to a 70-year low and in 2016 sat at 65.5 per cent, this included those who owned or were buying the home they are in. Rental rates sat at 30.9 per cent across Australia in 2016, but this was even higher in Sydney at 34 per cent.
Considering these stark results, it is not surprising we are seeing large numbers through our rental open homes and the team is working hard to help tenants find what they need.
“We are working very closely with prospective tenants to ensure we find and place them into their new home before the available properties hit the market,” National Director of Property Management, Maria Carlino, says.
With Sydney rental vacancy rates sitting under 2 per cent demand is strong, especially in the executive market.
“The high-end properties are still very much in demand. Our latest executive property in Northbridgeleased after its first open home with an increased offer from $2,200 up to $2,300,” explains National Director of Property Management, Maria Carlino. “Both the owner and the new tenants were delighted as it is a special home.”
<h2>Revealing market results</h2>
Vendors are benefitting by hitting the market now because they are going straight back into the same market. If you take a 2.0 or 3.0 per cent adjustment on the intense bidding from a couple of months’ ago, the vendor then picks this 2.0 or 3.0 per cent up when they purchase in the same market.
The recent 2.21 per cent increase in Sydney home value for the month of June, despite less competition at auction, is consistent with the buyer activity we are seeing. An example was the sale of 1 Monmouth Street in Randwick. Though bidding was slow, agent Ben Collier and auctioneer Thomas McGlynn achieved a new street record at $3.54 million.
In certain blue-chip suburbs, properties are selling prior to auction and above the asking price ­­– this is on both sides of the bridge. On market for just seven days, Michael Rava sold a two-bedroom unit in Gerard Street Cremorne to an investor, the ‘upsizing’ homeowner received $100,000 above their asking price. In Waratah Street Rushcutters Bay, James Ledgerwood sold a two-bedroom unit after just 14 days on market to first home buyers, the vendor also obtained a $100,000 above asking price.
Another interesting sale was Avoca Street Randwick. Janet Morrison sold this property 18 months ago for $770,000 and after a renovation, Janet re-sold the property for $950,000 in mid-June this last month.
One Sydney area that constantly bucks the property market trends is the Inner West. A long-term performer, the Inner West has maintained much higher clearance rates than the Sydney average. For example, in May, Inner West clearance rates sat at 89 per cent and The Agency’s Inner West office has achieved clearance rates of 100 per cent and gross sales of in excess of $40 million since February 01.
<h2>The Agency service expansion</h2>
In major news for our NSW’s operation, The Agency has joined forces with leading Lower North Shore group Province Agents. This will propel our service offering across Sydney, connecting the ‘best of the best’ in real estate from the east and west, to the Lower North Shore. Most importantly, this merger will strategically connect buyers, sellers and property management across these three blue-chip markets.
Another significant announcement from Steven Chen, director of The Agency Projects, is the sale and marketing of the luxury, 88-level development ‘Spirit’ on the Gold Coast beachfront. Worth $1.3 billion, these stunning residential properties will feature uninterrupted views and access to world-class amenities. The Forise Holdings ‘Spirit’ development will create thousands of jobs and inject millions into the local community, according to Forise representative and Hickey Management chair Tony Hickey.
 
Matt Lahood is the CEO at The Agency - Sydney. He can be contacted <a href="https://theagency.com.au/team/matt-lahood" target="_blank">here.</a>
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jchancellor-FAypfDUnLy

Significant jump in appraisal demand in Sydney: Matt Lahood 

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The residential real estate sector recorded its first revenue fall in five years in the recent financial year.
As estate agents battled low listing volumes in a low commission environment, researchers IBISWorld estimated total fees earned by real estate agents fell by $83.5 million or 0.7 per cent in FY17 to $12.46 billion.
The past financial year also saw the emergence in Australia of low-cost operators, along with the consolidation of lead generating websites which take a share of their commission.
"Rising competition and the digitisation of real estate services are likely to depress profit margins slightly over the next five years and challenge traditional operators," said IBISWorld.
"Digital platforms could undermine the industry's services as they represent a low-cost substitute, although this technology is also becoming a core component of a real estate agent's arsenal."
However, IBISWorld forecast industry employment to rise over the next five years, "with many operators opting to employ additional staff with greater expertise in an attempt to win customers amid rising competition".
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Estate agents took home less in last financial year: IBISWorld

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A match-making service for property? 
In an Australian first, Property Whispers has launched an online property match-making service for off-market listings, which matches buyers and their property requirements with suitable off-market properties in their chosen area, as listed by real estate agents. 
According to a media release from Property Whispers, buyers who register on the website (<a href="https://propertywhispers.com.au/" target="_blank">propertywhispers.com.au</a>) do not need to pay fees to access the off-market ‘inner circle’, while real estate agents would be able to reach more buyers.  
This would create a more competitive off-market sales market, it said. 
After its rollout in Sydney, the service aims for a national rollout in the next 12 months.
“Traditionally buyers needed to be on many sales agents’ databases or engage a buyers agent to access properties being sold on the quiet or pre-market,” said Property Whispers co-founder Liane Fletcher. 
“Now, buyers finally have the tool to access off-market properties that specifically match their purchase requirements.” 
Fletcher, a former real estate agent, said agents can now offer vendors not wanting to pay for expensive advertising or those wanting to keep the sale quiet a platform to do so. 
How Property Whispers Works: 
1.Buyers register list their property requirements (property type, bedrooms, bathrooms, parking, price guide, suburb).
2.Real estate agents list their off-market property specifications (property type, bedrooms, bathrooms, parking, price guide, suburb) - only discoverable via a match. No street address is revealed to the buyer.
3.An instant match occurs when a buyer’s property requirements matches an off-market property and the contact details are immediately sent to both buyer and agent so they can make contact.
4.The buyer and real estate agent speak, arrange to meet to view the property and hopefully a sale follows!
While registration is free for buyers, there is a three-month trial period for real estate agents who register online. Thereafter, there is an annual subscription fee. 
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Liane Fletcher launches Property Whispers as online 'property matchmaker' 

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The Sydney auction market is cooling as finance is harder to come by, especially for investors and those wanting to use interest-only loans.
The preliminary clearance rate reported by Domain was a shade under 70 percent - now tracking well below the frenzied peak - while CoreLogic put the preliminary figure a but higher at 73 percent.
The median auction price for houses was $1,515,500, some $142,500 or 10.4 percent higher than on the same weekend last year.
<a href="https://www.propertyobserver.com.au/images/2017/06/26/SYDNEY.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/26/SYDNEY.jpg" alt="">
Similarly the median auction price for units was up by $76,000 or 8.6 percent from the same weekend last year to $955,000. 
Overall the median price of $1,335,000 was the third highest on record. 
Return of the first homebuyer
A factor skewing the median price higher was that some first homebuyers are reportedly sitting on the sidelines until next weekend when the new incentives will have kicked in post-July 1.
From next week, therefore, there may be some renewed upwards pressure on entry level stock priced up to around $800,000. 
Overall, though, the credit squeeze has changed the dynamic of the market considerably, and price pressure is easing. 
In some inner suburbs such as Erskineville, Glebe, Enmore, Newtown, Haberfield, Darlinghurst, Surry Hills, Redfern, and Pyrmont I've already noted a looming shortage of rentals, with vacancy rates sinking to as close to zero as you'll ever see.
Sydney is having an absolute shocker at the moment with its traffic congestion, partly due to the disruption caused by the light rail construction. 
Therefore it's no surprise that areas experiencing a rental shortage are those with great city access.
It's a different story for some of the suburbs where commuters need to drive into the city for work.
Over the next year as investors are increasingly squeezed out of the market there will likely be an increasing number of news stories reporting a Sydney rental crisis, at least for certain locations and sought-after property types. 
Contrast these tight rental markets with the overbuilding and homogeneous glut of rentals on Sydney's city fringe, 60 kilometres to the south west. 
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/">blogger</a>.
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx">Four Green Houses and a Red Hotel</a>.
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Sydney auction market cooling as finance harder to come by

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A contemporary five bedroom home behind its Federation Armadale facade topped the nation's results when it fetched $5.925 million at its weekend Marshall White auction.
<a href="https://www.realestate.com.au/sold/property-house-vic-armadale-125599174" target="_blank">The </a><a href="https://www.realestate.com.au/sold/property-house-vic-armadale-125599174" target="_blank">9 Alleyne Avenue, Armadale </a>offering was the renovation project of the advertising guru turned property developer Nick Condon, who was formerly managing director of ad agency DDB, and his interior designer wife Kate Beadle.
They secured $900,000 above reserve for the 1910 home that traded in 2014 unrenovated at $2.022 million. They kept the home’s charming red brick facade and the front four rooms, adding a modern extension with five metre high ceilings at the rear.
National clearance rates continued to trend below 70 per cent across the combined capitals, with preliminary results showing 69.1 per cent of auctions found a weekend buyer.
There were 2,323 capital city auctions held this week, down from the 2,444 held last week.
"This week’s preliminary result indicates that clearance rates are continuing to soften," CoreLogic auction analyst Kevin Brogan said.
"Compared to results from one year ago clearance rates are relatively similar with the 67.4 per cent rate of clearance," he noted.
Volumes are up slightly on last June when there were 2,183 offerings.
"Underlying demand is still strong," the Domain chief economist Dr Andrew Wilson noted in Fairfax Media reports.
"And this year, we have higher mortgage rates for investors," Dr Wilson added.
Melbourne’s preliminary clearance rate increased to 71.9 per cent this week, according to CoreLogic, up from last week’s final of 71 per cent, when the lowest clearance rate since July last year was recorded.
Auction volumes decrease slightly with 1,050 auctions held over the week, down from 1,129 over the previous week.
At the same time last year, the Melbourne clearance rate was 68.3 per cent across 1,085 auctions.
The Mornington Peninsula region was the best performer in terms of clearance rates, with an 87.2 per cent success rate across 44 auctions, followed by the North West region, where 79.5 per cent of the 90 auctions sold.
Melbourne had the cheapest result when $262,000 was paid at Moonee Ponds. It had been tipped to sell for around $240,000 to $250,000.
The one bedroom at 6/78 Argyle Street had last sold in 1997 at $53,500.
Across Sydney, 918 homes were taken to auction this week with the preliminary clearance rate for the city at 73.1 per cent.
The final clearance rate dropped for the third week in a row, with 66.7 per cent of the 927 auctions clearing last weekend.
The volume was lower one year ago, when 768 Sydney homes were taken to auction for a 73.4 per cent clearance rate was 73.4 per cent.
Sydney's highest result was a longway from the traditional Saturday auction hotspots, as winter triggers fewer listings.
Offered for the first time in 29 years, an imposing Glenhaven home on a five acre estate fetched $4,625,000. <a href="https://www.realestate.com.au/sold/property-house-nsw-glenhaven-125607338" target="_blank">The vast six bedroom residence</a> was built in 2001. 
The preliminary clearance rate in Brisbane this week was 30.7 per cent, down from 46.4 per cent over the previous week.
Auction volumes were lower this week with 129 auctions held, down from 151 last week.
But Wilston secured a record price when a four level home at 39 Ray Street sold for $3,851,000.
<a href="https://www.realestate.com.au/property-house-qld-wilston-125614870" target="_blank">The seven-bedroom, seven bathrooms trophy home</a> sits on a 1657 sqm block, with a pool, pool house with a shower and bathroom, and a tennis court.
It was sold through Queensland Sotheby’s International realty agent Douglas Tonkin who sold it to an international buyer, whose top bid broke the suburb record of $3.2 million.
"Fastidious owners have remodelled and extended the home to incorporate multi-level living flowing out to the finest in al fresco entertaining and recreation," Tonkin advised.
A total of 101 Adelaide homes were taken to auction this week, with a preliminary clearance rate of 67.6 per cent across 68 results, down from 69.5 per cent last week when 103 auctions were held across the city.
Adelaide's prices ranged between $313,000 at Ingle Farm and $940,000 for <a href="https://www.realestate.com.au/sold/property-house-sa-linden+park-125593922" target="_blank">a 1950s house at Linden Park</a>, which was marketed as representing land value. There had been $790,000 price guidance.
A four bedroom home at <a href="https://www.realestate.com.au/property-house-sa-ingle+farm-125637250" target="_blank">24 Sloan Road</a> at Ingle Farm had been marketed with $300,000 price guidance.
In Perth, 54 auctions took place this week, with Perth’s preliminary clearance rate of 36 per cent higher than both last week’s result (32.3 per cent) and one year ago (31.9 per cent). 
Canberra’s preliminary auction clearance rate of 73.9 per cent this week is higher than last week, when the final auction clearance rate was 50.8 per cent and higher than the 61 per cent recorded last year.
Canberra's top sale was $1.4 million when <a href="https://www.realestate.com.au/property-house-act-o%27connor-125622950" target="_blank">79 David Street, O'Connor</a> was auctioned, having been marketed with $1.25 million plus hopes.
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Federation Armadale home tops weekend auction results

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SQM Research posted its listings figures which suggested "ongoing strength" in the housing market. 
Listings were somewhat higher in the month in Brisbane and Sydney (though miles below the peak of around 44,000 in the case Sydney). 
Melbourne's market continues a multi-year trend of tightening since 2012, while Hobart arguably has the tightest market of all of the capital cities.  
<a href="https://www.propertyobserver.com.au/images/2017/06/07/SQM1.jpg" target="_blank">Click to enlarge</a>
<div id="post-body-7453053517917161107" class="post-body entry-content">
<div class="separator"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/07/SQM1.jpg" alt=""></div>
 <div>Indeed, both Melbourne (-19.5 percent) and Hobart (-18.9 percent) have recorded enormous year-on-year declines in total stock listings. </div>
<div> </div>
<div><a href="https://www.propertyobserver.com.au/images/2017/06/07/SQM2.jpg" target="_blank">Click to enlarge</a></div>
 <div class="separator"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/07/SQM2.jpg" alt=""></div>
 <div>Melbourne recorded a massive near 6 percent uplift for houses in the month, for a 22.6 percent annual increase. </div>
<div> </div>
<div>The Melbourne housing market is performing extremely bullishly, echoing out-performance in the local economy.</div>
<div> </div>
<div>It's also worthy of note that the annual change in listings in resources cities has flattened, after increasing for a long period of time. </div>
 
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.
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Listings suggest ongoing strength: Pete Wargent

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Sydney set a new record for June house auctions with 789 home going under the hammer over the weekend, according to Domain's Andrew Wilson.
Sydney holds a preliminary auction clearance rate 74.3 percent from the weekend listings.
Domain's Andrew Wilson said the hot winter weekend significantly surpassed the previous record set of 670 on set on June 20 2015.
"The previous weekend’s clearance rate was 75.9 percent, and over the same weekend last year it was 80.1 percent," he said.
"It was the third consecutive decline in weekend results with the local market now tracking well below the 79.3 percent average weekend rate recorded over the autumn selling season. 
"Sydney recorded an overall auction clearance rate of 71.6 percent in May which was lower than the 73.3 percent recorded over April but higher than the 69.4 percent reported over May last year.
"Auction listings averaged 858 each weekend over May which was well ahead of the 709 recorded over April and the 637 listed over May last year.
"The May listings result was also a record for that month.
"It’s only the first weekend of the month and already the record has been broken for the most auctions listed and the most properties sold in June.  
"The Melbourne market continues to be deluged by a flood of auction listings with 1045 homes going under the hammer on Saturday – well ahead of the previous record of 955 set on June 18, 2016.
<div class="in-content-ad">"The city recorded a clearance rate of 75.9 percent at the weekend, which was lower than the 76.6 percent the previous weekend but higher than the 74.4 percent recorded over the same weekend last year.</div>
"Saturday’s clearance rate was the second consecutive year low result, with the local market now tracking well below the 79.5 percent average weekend rate recorded over the autumn selling season. 
"Melbourne recorded an overall auction clearance rate of 75.1 percent in May, compared with 75.9 percent recorded in April and 70.3 percent reported in May last year.
"Auction listings averaged 974 each weekend over May, which was well ahead of the 768 recorded in April and the 862 listed in May last year.
"The May listings result was also a record for that month. Over the first five months of this year 14,987 homes have been listed for auction in Melbourne, which is an increase of 14.3 percent on the same period last year."
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Bumper Saturday for Melbourne, Sydney residential auctions

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Nowhere more than in Sydney, the city with the most valuable real estate of the nation, does the suburb you live in define you so much.
At Melbourne parties, they ask: "Where did you go to school?" followed by "What footy team do you barrack for?"
In Sydney we want to know "Where do you live?" and then "How much did you pay?"
Residents in Mount Gilead, set to be one of our newest suburbs, will become as aware of the neighbourhood pecking order as are the last few dames of the upper north shore.
It is not so much about class these days, as about perception, about how smart we see ourselves and others in the pursuit of the property prize.
Sydneysiders know their place, wherever it is, from the mountains to the harbour and coastline.
We define ourselves by the suburbs we look up to and look down on.
I was thinking about this last weekend after the sale of the Fairfax publishing dynasty's $70 million plus harbourfront home, Elaine.
For 123 years of its ownership it sat proudly in Double Bay, but for the past three years during its sales marketing campaign it has been inaccurately described as Point Piper.
Granted it sits on Seven Shillings Beach which takes in both suburbs - and doesn't have a demarkation line in the sand.
I rechecked the official Elaine lands title document and it does say Double Bay. Ok probably Point Piper holds aspirational top spot, but is Double Bay that down at heel to be disowned? 
As Sydneysiders we tend not to actually envy too many of the 650 other suburbs, but rather keep the tribal snobbery to the nearest.
There's the infamous split between the Woollahra and Paddington side of Jersey Road. 
Social death can lie on the wrong side of divides such as Old Windsor Road separating The Hills from Blacktown, while Burwood Heights sits on the wrong side of Liverpool Road for most Burwood residents.
Adjoining suburbs such as Palm Beach and Whale Beach, Woolwich and Hunters Hill look down on each other.
East Balmain and East Redfern are more desirable than Balmain or Redfern. 
On the train line east is always better than west on the Upper North Shore.
Tastes do change over time so the eastern suburbs beaches long lagged behind the harbourside suburbs, though in recent years the likes of North Bondi attracted a happening crowd.
There can be snobbery in reverse as when BrickX secured their recent apartment they were happy to rightly embrace it being in Darlinghurst, while most other occupants in the McLachlan Avenue block claim it's Rushcutters Bay.
Of course as we all live in Sydney, we collectively can look down on every other city in Australia.
 
This article was first published in the Saturday Telegraph
 
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