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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Kovacs Property Group Pty Ltd has paid a $10,800 penalty to comply with an ASIC infringement notice after producing potentially misleading advertisements online.
The statements were made on www.positivefuture.com.au, a website used in the promotion of the Investment Samaritan Offer, an investment offered within the Guardian Investment Fund. The statements were published over late 2015 and early 2016.
ASIC was concerned that the website emphasised the safety of the investment in terms of the return of capital and sustainable quarterly returns without providing an explanation of the key risks involved in the investment.
Of particular concern, the website did not explain that the funds invested are loaned to Investment Samaritan Pty Ltd, or of the risk that this company could default on the loan. Investment Samaritan Pty Ltd is reliant on a US-based companies identifying and sourcing distressed US credit card issuers and collecting credit card debts from US based consumers in order to meet its obligations to investors under the loan.
ASIC Commissioner Greg Tanzer said advertisements for financial products and credit products should give a balanced message about the returns, features, benefits and risks associated with a product.
"ASIC will take action to address misleading or inaccurate advertising of investment opportunities to ensure investors are informed in their decision-making," he said.
Kovacs Property Group Pty Ltd had acted to revise the website once approached by ASIC and has co-operated to address ASIC's concerns.
The payment of an infringement notice is not an admission of a contravention of the ASIC Act consumer protection provisions. 
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jonathanchancellor-7SQnKwU6yx

ASIC hits Kovacs Property Group with penalty

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Dandenong had Melbourne's cheapest sale when a two bedroom apartment at 7/40-42 Hemmings Street (above) fetched $168,000 through Barry Plant in a pre-auction deal.
It leases at $260 a week.
It previously sold at $56,000 in 1997 and <a href="https://www.barryplant.com.au/dandenong/property/536388/7-40-42-hemmings-street-dandenong/" target="_blank">$113,000 in 2003</a>.
The Brexit decision had zero impact with Saturday auction clearance rates continuing steady or improved conditions across the major auction cities.
Melbourne's top sale was $3,065,000 when an original three-bedroom house on the Aspendale beachfront sold after its weekend auction.
The redevelopment block of 570 square metres at <a href="https://www.realestate.com.au/property-house-vic-aspendale-122831358" target="_blank">34 Bowman Street</a> (below) had been passed in at $2,945,000 by the RT Edgar auctioneer.
<img src="/images/2016/06/27/Screen%20Shot%202016-06-27%20at%2010.14.19%20AM.png" alt="">
The 1970s classic single storey house came with approved plans for a luxurious view-filled five-bedroom, four-bathroom home, designed by Wolveridge Architects. 
The beachfront had sold last at 2014 auction for $2.65 million, when offered at $1.9 million plus.
The price guidance this time was $2.7 million to $2.97 million.
The street's top sale sits at $3.65 million since mid last year for a 2004-built home.
The nation's top sale was in Kirribilli, when Michael and Louise Tang, who operate supermarkets in Papua New Guinea, put their nearby terrace to by invitation-only auction yesterday.
There's been no formal price disclosure, excepting the <a href="https://www.realestate.com.au/property-house-nsw-kirribilli-122738302" target="_blank">Willoughby Street property</a> (below) sold for somewhere within its price guide of $8.75 million to $9.25 million to north shore buyers.
<img src="/images/2016/06/27/Screen%20Shot%202016-06-27%20at%2010.15.39%20AM.png" alt="">
There were three registered bidders when auctioned through Belle Property. 
Kirribilli's median house price sits at around $3.3 million.
Last traded at $2.55 million in 2000, the renovated five-bedroom, four-bathroom property has a library, guest suite, media room.
There's a north-facing rear garden and a pool.
Sellers have surged into the market over the past fortnight to avoid a clash with the federal election to be held next weekend, and also to avoid the school holidays too.
Melbourne hosted around 1,025 auctions, down from 1,085 last weekend, but higher than the 1,007 held one year ago, according to CoreLogic.
The initial results reflected a 68 percent success rate, signifying the third week in a row where Melbourne’s clearance rate sat below 70 percent.
Sydney’s 77 percent success rate was higher than the 73 percent in the prior weekend, but lower than the 82 percent of one year ago.
For the tenth week in a row, Sydney recorded a clearance rate in excess of 70 per cent. 
CoreLogic spokesperson Kevin Brogan said the Sydney clearance rate had "maintained strength" over the past six months.
Brisbane 171 auctions secured a 48 percent initial clearance rate, compared to 45 percent last week and 46 percent one year ago.
Adelaide's clearance rate remains in the 60s, with 89 auctions securing a 67 per cent success rate.
"Over the past three weeks, the number of auctions held in Adelaide has held relatively steady and is also comparable to one year ago," Kevin Brogan said.
There were 42 Perth auctions held this week, with a fall in the weekly clearance rate, to 28 percent, from 31.9 percent from last week.
Canberra’s clearance rate rose this week, up from 61 percent last week to 64 percent this weekend.
Overall the national auction clearance rate sat 69 percent, up from 67 percent last weekend.
The rise represents a further improvement from the recent 65 percent low over the weekend leading up to the Queen’s birthday public holiday. 
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jchancellor-FAypfDUnLy

Aspendale knockdown sells amid Melbourne's softening market

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<div class="cq-article-content-paras section">
With no deal current to build Sydney's tallest residential tower, the Chinese developer Greenland has raised the prospect of undertaking their own construction on the Greenland Centre.
The construction giant Brookfield Multiplex severed its contractual agreement due to commercial differences last month.
The Australian Financial Review suggested last month Brookfield Multiplex thought Greenland had been difficult to deal with and there had already been significant delays in what was already an extremely tight program. 
The arrival of the Chinese-based Greenland to Australian shores was heralded by Property Observer as an auspicious occasion with their 2013 plans for building Sydney's tallest residential highrise on the former Water Board site in the CBD, but little has gone right for the group ever since.
The overly ambitious Chinese developer were lured to overpay for the CBD site, after abandoning, at the eleventh hour, well advanced plans for a suburban project that would have not given them their desired world beating, global expansion status. 
Today's article in The Australian said the Chinese developer was still committed to <a href="https://www.greenlandaustralia.com.au/en/greenland-centre/" target="_blank">the $700 million, 235 metre tower tower</a>, which has seen almost all its apartments sold off the plan through CBRE Residential with a completion date at the end of 2017. It now has a 2019 anticipated completion.
“We will figure out what to do in the coming weeks,” was the best the Greenland spokesperson could advise The Australian last month.
Today the Greenland assistance managing director Kang Xue advised The Australian it was "actively pursuing the most productive way to complete the tower."
Only last week Greenland told the Urban Developer website that new builders had “come knocking.” 
</div>
<div class="cq-article-content-media section"><img class="lazy620x0" src="https://www.afr.com/content/dam/images/g/h/c/b/z/e/image.imgtype.afrArticleInline.620x0.png/1432863576024.jpg" alt="The proposed Greenland Centre in Sydney is virtually sold out before construction has started." width="620" data-src="/content/dam/images/g/h/c/b/z/e/image.imgtype.afrArticleInline.620x0.png/1432863576024.jpg"></div>
<div class="cq-article-content-paras section">
The tower, at the former Water Board site at 115 Bathurst Street, was Greenland's first project in Australia. 
There are 470 apartments in the tower for which only a last lucky eight reportedly remain unsold. There are three so-called penthouses for sale.
It was promoted boastfully as Sydney's highest residential block. 
<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/stories/2013/10/24/sydney-oct-23-one.jpg" alt="sydney-oct-23-one" width="470" height="569">
Marketed as 'Like a diamond in the sky' - Sydney's tallest residential tower had prices starting at $528,000.
Set on the former Water Board site, the 115 Bathurst Street and 339 Pitt Street site had stage-one development approval in its purchase for up to 70 levels reaching 235 metres high. 
Beating off Harry Triguboff Meriton's 230-metre tall World Tower, which dates back to 2004, the new tower will, if built, appear considerably taller as it is located further up a ridge than World Tower.
</div>
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Greenland suggests it won't replace Brookfield Multiplex as Greenland Centre builder

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Foreign property investors - individuals and corporations - in NSW will be hit with a 4 percent stamp duty surcharge when buying homes and apartments, the state budget confirmed.
Overseas investors will also cop an extra 0.75 per cent land tax surcharge on residential property.
Treasurer Gladys Berejiklian said she was confident the extra costs would not deter foreign buyers given other states had similiar measure.
NSW land tax revenues from investors are forecast to rise at a faster rate than stamp duty revenues over the next four years.
Land tax on investors will rise 8.1 percent higher revenue every year for the next four years, taking revenues from $3,136 million this year to $3,761 million in 2019-20..
The NSW Treasury suggested price growth was "moderating."
The New South Wales budget was released at midday on Tuesday, with much information pre-released. 
The State Government is not tipping any Sydney property market correction, just a likely easing.
The state budget didn't raise or lower property taxes, other than the previously canvassed new taxes on foreign investors.
 The NSW Treasurer Gladys Berejiklian's second state budget anticipates a slowing in stamp duty revenues from home sales.
They will still get $8,777 million in the next financial year, then $9,124 million in 2017-2018.
Residential transfer duties are tipped to rise at 4.4 percent annually over the next four years, "significantly more subdued than the pace see in recent years."
There was 13.6 percent growth in the current budget year, and a stunning 40 percent growth when the boom was its most robust in 2013.
The NSW State Budget officially revealed an extra $835 million extra stamp duty purchasing revenue will come from foreign buyers over the next four years.
It also expects $166 million is over the next four years from the new land tax on foreign investors.. 
NSW has not adjusted its stamp duty rates for three decades.
Transfer duty represents 29 percent of state government revenue. Land tax represents 11 percent.
The State Government revealed it is on track to deliver a record $3.4 billion surplus this financial year - and a $3.7 million in the next financial year.
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Foreign buyers to cop extra property taxation: NSW state budget 

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GUEST OBSERVER
So at 6.00 pm the James Buyer Advocates Clearance Rate was 83 percent and James Bidderman was 2.5 bidders per auction on the 24 auctions we covered. Mmmmm on the face of it very strong and it is; BUT……………..
Markets, markets, markets. 
During the week, before getting crunched at today’s 507 Royal Parade Parkville auction,  Craig Shearn of Jellis Craig put the fragmenting PPP markets into succinct context.  “Mal I think if anything the north is picking up here, as when I talk to the boys in Boroondara they are finding things a bit tougher. Its still good, but they are no longer full of the glory stories, week in and week out.”
Now I’ve taken some license with his words and paraphrased a bit – but I think it sums up the markets – they have, in 2016, become a lot more interesting.
Footnote: Craig Shearn was spot on re his advice on price, knew who his bidders were and gave a very polished auction performance. From my point of view it wasn’t enjoyable to watch, but it would have been so for his vendor. Hats off Craig!
We’ve prattled on week in and week out re A, B and C graders and the way Price points, Property types and Positions (3P’s) are performing very differently from each other in 2016 – which is a sign of a changing market.
In our opinion the Top End (7m+) has cooled, but it can be confusing for some buyers when we say that. We can’t prove it in the stats yet (lag with price reporting) and of course the K&amp;B and RT Edgar Mexican Waves are still fully operational.
Now that is very different in our opinion from the $3m-$6m market in exactly the same areas, which has good bidder depth from locals on A graders and some B graders.
However, what we can show statistically, is some really interesting positional market differentiations, that buyers need to understand when they are pricing and bidding as we go into Winter 2016.
History: Remember these slides below in March 2015 James Market News. They were graphics that started a lot of work for us showing new buying clients they actually had alternatives in a booming market.
<a href="/images/2016/06/17/SlideMarch2015-597x448-2-597x448.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/06/17/SlideMarch2015-597x448-2-597x448.jpg" alt="">
<a href="/images/2016/06/17/Opportunity1-597x448-2-597x448.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/06/17/Opportunity1-597x448-2-597x448.jpg" alt="">
Now in 2016
Here are some more James Buyer Advocates graphics to show how the worm is turning and how we at James Buyer Advocates are showing Values and Pricing to our current buying clients. All data below is Jan – May 2015 v Jan-May 2016.
<a href="/images/2016/06/17/Market1-597x448.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/06/17/Market1-597x448.jpg" alt="">
<a href="/images/2016/06/17/Market2-597x448.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/06/17/Market2-597x448.jpg" alt="">
Hey please don’t use stats the wrong way – don’t be too specific as it will bite you – use stats for trend highlighting.
And what the agents know, what we at James Buyer Advocates know and what you as buyers should know is – that while the overall markets are appearing to be “steady’ish”; if you break it down geographically (Position P) you will see ups and downs and if you break it down to home types (Property P) and price points (Price P) then you will see further differentiation from 2015.
We do this on all pre negotiation values and this is only two suburbs and only on land values.
Source: All stats used were REIV and blocks of land were selected as those having a square box on them in the advertising – not too scientific, but close enough and reflective of what we are seeing on the streets.
Why is this all important Mal?
See below. If you lived in Brighton and wanted to move your family near Carey and you thought the local Bayside market reflected what was happening in Balwyn then a smart agent could be showing you some historic information resulting in you paying $333,360 more.
<a href="/images/2016/06/17/Market3-597x448.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/06/17/Market3-597x448.jpg" alt="">
Of course you may decide not to pay it and another buyer does, as there are still sales over $3,000 per sqm in Balwyn. The point is not that the above graphic is 100% foolproof, cast iron guarantee on what will be happening to every block on land in Brighton v Balwyn – of course not. But it does show you that in 2016 you have alternatives – there are more blocks selling for less in Balwyn.
If you lived in Balwyn and you wanted to move your family to be near Brighton Grammar and you thought the Balwyn market trend of 2016 reflected the Brighton market, then you would miss out at every auction – as there are more blocks selling for more in Brighton.
When valuing in today’s market prior to beginning negotiations before auction, at auction or in off markets/private sales you want to know.
1. What is really happening not just in the overall market, but also in your little patch, for the type of property and at the price point you want to buy.
2. That ancient history may be as close as last year and no longer relevant.
3. What the agent is seeing v what the agent is saying.
Mal writes weekly auction reports, advice and in-depth market analysis on <a href="https://www.jamesbuyeradvocates.com.au/" target="_blank">James' website</a>. This was published early June.
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Are you noticing the subtle changes of the differing PPP markets? Mal James

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Dubai will host the 2018 World Real Estate Congress under the theme "Future of Cities".
The event, the 69th, is expected to attract real estate professionals from over 60 countries.
This year’s World Real Estate Congress was held in Panama City, Panama from 21-26 May under the theme ‘Connecting Development for a Better World’. The conference covered affordable housing, real estate opportunities through globalisation, smart cities and international property ethics.
Dubai Business Events (DBE)  in partnership with the Dubai Real Estate Institute (DREI) are hosting the event.
HE Sultan Butti Bin Mejren, director general of Dubai Land Department said the fact that the Emirate has been chosen as the first city in the Middle East to host this event demonstrates how Dubai has emerged as the pre-eminent real estatehub for the region. 
“This World Real Estate Congress 2018 will strengthen Dubai’s economy through attracting business and leisure visitors, and inward investment into the emirate not only from the region, but from across the world, further building towards a continued maturation of the Dubai property market," he said. 
"Today’s announcement also bolsters the Dubai Plan 2021, which aims to build a smart and sustainable city with strong infrastructure capable of supporting economic and social life and contributing to the Emirate’s future growth.” 
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Dubai to host World Real Estate Congress in 2018

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The youngest of the NRL's Burgess brothers, Tom has bought a Sydney property.
His recent Coogee purchase complete's the property ownership of all the young lads within the popular family.
Tom, the last to arrive in Sydney and the last to buy, secured a 167 sqm two bedroom courtyard apartment (above) for around $1.3 million through NG Farah agent Theo Karangis.
He's been busy shopping for furniture ever since - spotted at the Mosman homeware store, Pond.
Taking advantage of the beaches they don't get in England, the four brothers have collectively spent around $11 million since they started on the property ladder in coastal eastern Sydney and there's whispers their mum, Julie could be looking for a pad too.
Sam was the first  buyer of the four, buying a Darlinghurst apartment in 2011 for $1.075 million following a successful first season at South Sydney Rabbitoh's.
The two bedroom apartment in the Advanx building has full alfresco dining terrace.
Sam quietly bought another off-the-plan apartment in Bondi in 2012, but he didn't emerge as a buyer until settlement in late last year.
He paid $2.065 million for the two bedroom garden apartment in the new Bondi Pacific building.
It was up for sale at $2.95 million but recently leased out at around $1950 a week.
Instead Sam has spent $3.8 million on a mansion in Maroubra at the start of the year.
His newest acquisition where he and wife Phoebe Hooke reside is a four bedroom French provincial inspired home with swimming pool and home theatre.
Luke, who arrived in Sydney a year after Sam in 2011 and now plays for the Manly Sea Eagles, has owned in Chifley since 2014.
Ditto George who recently spent $2.1 million for an off-the-plan Randwick apartment in the new MHND-Union designed Epoque boutique apartment block through Laing &amp; Simmons Double Bay agent D'Leanne Lewis.
This article was first published in the Saturday Daily Telegraph.
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Burgess brothers hunting for Sydney property

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Melbourne’s property market is nearing a peak and could be entering a slump because of high incoming supply according to the latest CoreLogic-Moody’s Analytics Australia Home Value Index Forecast, 2016Q2.
The forecast said momentum in Australia’s housing market has been sustained, with the CoreLogic Home Value Index rising 1.7 percent in May however predicted a 6 percent decline inMelbourne house values from the end of 2016 through to early 2020.
"Despite expectations of steady income and jobs growth in Melbourne, house values are forecast to decline more than 6% from the end of 2016 through to early 2020. How- ever, the declines are likely to be con ned mostly to apartments in comparison with detached dwellings," the report said.
"House values in Melbourne also reached a new high in April, but the outlook here is less positive. The current momentum will enable values to gain 7.1 percent this year, but the effects of high levels of incoming supply—200,000 dwellings approved for construction from 2013 to 2015—will depress house values through to 2020. 
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"Price growth in Melbourne and Sydney, after a period of deceleration, picked up again in April and May, and signs of a recovery are evident in Brisbane and Perth. However, the markets in Adelaide and Darwin are sluggish and are expected to underperform. 
"House values nationwide are expected to rise 6 percent this year and 4.1 percent in 2017. Much of this rise will be driven by continued gains in Sydney, where values are forecast to rise 7.3 percent this year, or about half the 14.9 percent rise in 2015."
<a href="/images/2016/06/10/Screen%20Shot%202016-06-10%20at%2010.47.39%20AM.png" target="_blank">Click to enlarge</a>
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High supply pipeline could drive Melbourne property market slump: CoreLogic-Moody’s Analytics

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A poll by the property agency iBuyNew found by a narrow margin that 54 percent of respondents said the election was not influencing their decision on whether to purchase a property.
Some 46 percent of respondents to the online survey said they would wait until after the July 2 election because they wanted to weigh up the policies which will impact the real estate sector.
iBuyNew CEO Mark Mendel said one of the main concerns was the proposed removal of negative gearing on established properties by the Labor Opposition as well as the halving of the CGT discount for assets held longer than 12 months from 50 percent to 25 percent. 
Mark Mendel predicted prices will rise after the federal poll.
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Property 101: Has the election delayed purchasing of property?

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As the sun sets on the extended summer selling season in pricey Palm Beach, plenty of would be sellers now face the chill winds of winter.
The Melbourne based model Megan Gale headlines the vendors who just haven't been able to secure a summer sale.
<a href="https://palmbeach.ljhooker.com.au/4HQF6Z/12-ralston-road-palm-beach">Her hilltop northern beaches getaway</a> has gone buyerless for some 220 plus days, that's double the 110 typical days on market average.
And when she does sell her five bedroom occasional retreat there won't been much profit as it cost her $3.2 million in 2006.
Her consistent asking price has been $3.5 million, with local LJH agent Peter Robinson called in to help her initial agent Stephanie Hammond find the buyer.
Investment banker Paul Espie is another who is struggling to sell his 1920s Palm Beach weekender, Craboon.
He listed the home in October, slightly earlier than Gale but with pricier $6.5 million hopes.
The now remodelled classic stone cottage was bought by Espie and wife Ros for $2.45 million in 2004
Paul and Megan certainly have some competition, with CoreLogic RP Data showing around 44 houses currently for sale in Palm Beach.
The newly appointed Telstra group executive Kevin Russell has emerged as a buyer at Bilgola, so is the latest to list his hilltop Palm Beach property.
Russell's four bedroom Palm beach home was bought for $2.02 million in 2012 when he was with Optus.
Set on a larger 923 sqm, the beach house style home has numerous balconies with views over Pittwater.
It's been listed with $3 million hopes through James Baker of Raine &amp; Horne Palm Beach.
He's bought at Bilgola from BT investment funds manager Andy Fay paying $3.625 million for a 625 sqm spot on the Serpentine.
Previously novelist Thomas Keneally's home, the tri-level beachfront sanctuary surrounded by lush tropical gardens has five bedrooms and four bedrooms.
This article was first published in the Saturday Daily Telegraph. 
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