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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GUEST OBSERVER
High rental returns in a low interest rate environment are driving residential investors to the industrial property market in Sydney.
Based on current market conditions, rental increases of between 35 to 45 per cent are expected over the next three to five years and possibly more due to an under supply of industrial property in Sydney.  
The low interest rate environment is creating perfect conditions to invest in industrial property. The owners of residential property and developers with land banks, who have made strong returns in recent years are cashing in and now moving into industrial property to capitalise on higher returns. The cost of money domestically is falling and driving price growth.
Astute investors are realising you can’t eat capital growth. To build long term wealth through property, cash flow is king which is what is delivered through industrial property. We are witnessing a shift towards investors purchasing industrial property in their self-managed super funds to generate an income for life.
Sydney investors are realising that a small industrial strata unit can be purchased for half the capital outlay compared to a home. There are significant advantages associated with investing in industrial real estate when compared to residential. These include the security bond is usually bigger (three months), leases are longer – typically three to five years,  less capital outlay is required for smaller units and rental yields are generally higher. 
According to the latest statistics from the Property Council/IPD Australia All Property Index, the average annual return of industrial property was 15 per cent in the year to end 31 March.
Property shares returned 9.2 percent, bonds recorded 1.6 percent and balanced share portfolios went backwards by 11.3 percent. The average rent income yield was 6.6 percent, plus 7 percent capital growth, which is the best since 2008.
In a Sydney based example, a private investor purchased a 746 sq m property (total area) in the Seven Hills Industrial Precinct in October, 2010 for $1.117 million. Today the property is worth $1.49 million which is an increase of 33 percent in value since the purchase price. The net rental cash flow from the tenant on the existing lease is $82,399 returning 7.37 percent with total returns exceeding 10 percent per annum.
Sydney’s industrial property market is currently experiencing a major under supply. I don’t expect the market will suffer any significant rental downturn due to supply constraints. With price increases continuing, Sydney offers the potential for very good industrial rental and price return growth well into the future. However the window of opportunity to secure the best returns will be gone after 2017 due to supply constraints today.
Barry Cawthorn is managing director, Bawdens Industrial and can be contacted <a href="https://www.bawdens.com.au" target="_blank">here</a>.
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jchancellor-FAypfDUnLy

High rental returns driving residential investors to industrial property: Barry Cawthorn

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Queensland's Whitsundays property market was at the start of recovery cycle for houses while it was approaching the bottom of the market for units, according to valuation firm Herron Todd White's latest property clock.
It occupied the same position in April too, which also covered the fringe areas of Whitsundays.
Whitsundays has a few fringe suburbs and rural townships scattered mostly to the south and west of Whitsundays. The properties in these areas are small residential lifestyle and these continue to show a stable market.
However to the south, the areas of Midge Point and Bloomsbury are showing a downturn in the market and seem to be more affected by the Mackay market as when times were good, people where looking for their beach hut or fishing weekender and most buyers were from Mackay.
Now that the market in Mackay has had a large downturn and with the continuation of job losses there, fewer buyers are heading into this area. Laguna Quays was once a thriving golf course resort with unit and townhouse style accommodation.
"Since the golf course and all the amenities were closed, parts of the complex are now extremely run down with the exception of the units which the body corporate ensures are presented in a good condition," it noted.
These are currently selling at a fraction of the price they once were, however, maybe there is light at the end of the tunnel for this area as there is a new owner so we will wait with interest to see any resulting changes. 
Property Observer went looking for recent sales in the fringe areas of Whitsundays and found two recent ones in Midge Point. There was no recent data for median sales for Midge Point on CoreLogic RP Data.
A three-bedroom holiday home at <a href="https://www.realestate.com.au/property-house-qld-midge+point-120079325">8 Peters Avenue Midge Point Qld 4799</a> traded for $245,500.
 <img src="/images/2016/05/31/Screen%20Shot%202016-06-01%20at%208.07.07%20AM.png" alt="">
 
A one-bedroom house at <a href="https://www.realestate.com.au/property-other-qld-midge+point-118427623">33 Nielsen Pde. Midge Point Qld 4799</a> sold for $270,000, according to RP Data.
 
<img src="/images/2016/05/31/Screen%20Shot%202016-06-01%20at%208.19.47%20AM.png" alt=""> 
 
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Fringes of Queensland's Whitsundays impacted by Mackay, in downturn: HTW

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The Wombarra home central to an ongoing saga concerning disgraced trade unionist leader Kathy Jackson and her partner Michael Lawler, the former Fair Work vice-president, has been sold.
The house at <a href="https://www.raywhite.com/nsw/wombarra/1455507/" target="_blank">30 Dam Road</a> was owned by the Sydney barrister suffering from dementia, David Rofe. It fetched $1.2 million pre-auction. The cul-de-sac home was bought in 2014 for $1.35 million by Rofe.
The somewhat neglacted house sits adjacent to the home of Jackson. Its price fell short of its price guide of between $1.4 million and $1.5 million through Ray White’s Mattias Samuelsson.
This article was first published in the Weekend Australian Mansion Australia property section.
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firstname1-iYD4UYzvBa

Wombarra sale in the Kathy Jackson saga

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New listings for combined capital cities are up 1.3 percent year on year with a total of 26,093 according to CoreLogic RP Data.
This time last year total listings were 10.4 percent lower than today's figure of 107,467.
<a href="/images/2016/05/30/Screen%20Shot%202016-05-30%20at%204.40.21%20PM.png" target="_blank">Click top enlarge</a>
<img src="/images/2016/05/30/Screen%20Shot%202016-05-30%20at%204.40.21%20PM.png" alt="">
 
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New listings for combined capital cities up 1.3 percent: CoreLogic RP Data

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A property where some tragic or traumatic event, such as murder, rape, suicide, violent crime or other horrific event has occurred is referred to as a "psychologically stigmatised property".
Such a characterization does not involve a defect as to title or the physical features of the land. The stigma in such cases is said to emanate from some non-physical defect that causes religious, moral, emotional or psychological discomfort to a buyer. Is there a duty of disclosure?
Silence as to the history of a property may constitute misleading and deceptive conduct, particularly where the silence is coupled with the failure to correct or qualify statements that lead a purchaser into error. If a horrific event occurred in a dwelling, there is likely to be a "reasonable expectation" that it will be disclosed to purchasers. It is an offence under state and federal law for an estate agent or representative to mislead or deceive a client (seller or landlord) or a consumer (buyer or tenant) by their conduct or representations. While agents around the country have ethical responsibilities under their codes of conduct, the laws surrounding these issues vary from state to state and none of them is uniform. Concealment and silence Misrepresentation can be about what is not said as well as what is said.  Schedule 1 (3) of the Property, Stock and Business Agents Regulation 2003 states that: "You must be fair and reasonable to all parties, and must not mislead or deceive any parties in negotiations or a transaction."  
There is no stand alone duty of disclosure, but silence can be misleading in certain contexts, and this should be avoided. There is a need to consider the background of other facts against which the silence occurs. Agents need to consider whether silence in that context can lead reasonable people to believe that a particular state of affairs exists where it does not. Remaining silent or only telling half the story where there is a reasonable expectation of disclosure means you are breaking the law. Licensees and certificate holders must be open and honest with clients and customers.  
If information is known to the agent they must not conceal or suppress information about a property if there is a reasonable expectation that the information will be of concern to a buyer or seller and is not readily apparent. Refer to Fair Trading NSW website <a href="https://www.fairtrading.nsw.gov.au/ftw/Property_agents_and_managers/Agency_responsibilities/Misrepresentation_guidelines.page" target="_blank">here</a>. 
Garth Brown from from conveyancers Brown and Brown said there has been considerable debate over the years since the issue of stigmatised properties came to the fore in 2004 when a real estate agent in New South Wales was successfully prosecuted by the Commissioner of Fair Trading for marketing a home in North Ryde without revealing to prospective purchasers that a tragic triple murder had occurred in the house, the media had dubbed this case "the Gonzales murders". 
"The law in Australia is not yet settled on this issue but as in the Gonzales case the onus of responsibility may come down to the selling agent who has a moral obligation and a duty of care to inform prospective buyers that the events that occurred in the property may affect its value now and in the future," he said.
"Since the Gonzales case there have been a number of similar cases and the debate has been kept alive how to handle the issue, it has even been suggested in the industry that this type of disclosure could be captured in the contract for sale of land and is part of the conveyancing process with the prospective buyer's conveyancer or lawyer making the enquiries to ensure the land/property doesn't have a stigmatized history.
For more information, contact Brown and Brown Conveyancers <a href="https://www.conveyancers.net.au" target="_blank">here</a>. 
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Property 101: Psychologically stigmatised property

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Many businesses with high overheads, in particularly franchises, may close down due to an uncertain property market, according to the chief executive officer of One Agency Real Estate Group.
Speaking at the group's head office in Sydney, Paul Davies predicted that high overhead businesses will struggle in a slowing property market, where the rate of price growth for residential properties has declined in recent months, there is less turnover of properties, and pressure mounts on maintaining agents fee levels as competition to survive increases.
“Franchise offices in particular have added overheads, and may have difficulty maintaining the narrow profit margins, creating added stress to meet their high overheads” he said.
“I believe that many offices will close. The first will be ones with the slimmest profit margins, gradually followed by many others. I would go as far as to suggest, some franchises groups, that struggle to provide a fair exchange for fees, where their franchisees cannot justify the costs, will become irrelevant and cease to exist.”
He said the global trend is for better and cheaper products and services, and this applies to the real estate franchise environment as well.
One Agency helps real estate agents to establish their own agency for an establishment fee and a monthly fee. It claims it's not a franchise operation.
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Real estate franchises with high overheads may close as market slows: One Agency CEO

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Parts of Sydney's booming apartment market such as Mascot, Zetland and Waterloo could be in for a price correction next year due to oversupply, according to a property consulting firm Opteon Property Group.
With nearly 20,800 apartments this year and a further 26,000 expected to settle in Sydney next calendar year, the tide is turning for landlords and developers as price growth slows and buyers of off-plan apartments sell for less into an oversupplied secondary market, said a report in The Australian Financial Review based on valuation firm's research.
Sydney is constrained by a lack of sites in the city centre, unlike Melbourne and Brisbane, and new projects have spread out to the metropolitan area. 
"There are numerous new developments in some areas and there is a risk of an oversupply issue which looks to bite around 2017-2018," Opteon said in the analysis. 
"Suburbs to watch are Mascot, Zetland, Waterloo and Alexandria which are considered high density suburbs, with high rates of new off-the-plan apartments and potential over supply," it said. 
The oversupply - and pain - will not be uniform, it says. Sydney doesn't face the widespread price apartments expected to result from the wave of looming settlements in Melbourne and Brisbane, as it still suffers a shortage of homes and unaffordable prices of detached homes mean many buyers have no choice but to go for an apartment. 
But the analysis is the strongest sign to date that even Sydney is hitting the ceiling of housing construction this cycle, the AFR report said.
NSW has approved more new apartments than Victoria every month on an annualised basis every month since June 2013. Data from the Australian Bureau of Statistics show that in the year to March, NSW gave the green light to 40,770 new apartments, townhouses and semi-detached homes, while Victorian planners approved 32,679. 
Other observers think parts of Sydney's apartment markets are in for a correction. Development in the Northern Districts is surging ahead of the planned North West Rail Link but it could prove too much, said Angie Zigomanis, forecaster BIS Shrapnel's senior manager for residential property. Parramatta in the west could also find itself with too many apartments, he said. 
"In general, it will only be localised pockets if there is oversupply," Zigomanis said. 
Any correction will not be immediate. Buyers of recently completed off-the-plan apartments - those purchased around 2013/14 - are generally in the black because the subsequent surge in prices has already pushed market prices above what they paid, Opteon said. 
But apartments sold since last year - "in large numbers to overseas investors at a premium" - are the ones at risk as they will not see the capital growth earlier purchasers have enjoyed, Opteon said. 
"As we head into a more steady market, a concerning factor will be 2016 purchasers paying a premium for new product, and not seeing growth in the market towards completion of the complex two to three years down the line, with potential valuations lower than the purchase price," it said. 
Sydney's residential property market has defied expectations of a slowdown, with an auctions market that is strong. But price growth is slowing on the supercharged figures of last year and property in Australia's largest city will be part of a national fall in prices that will come in 2019 and 2020, consultancy Capital Economics said this week.
While Sydney's eastern suburbs were at no risk of oversupply, some southern suburbs were, Opteon said.
Opteon also singled out the suburbs of Asquith and Mount Colah, a recently rezoned growth corridor on the Pacific Highway near Hornsby. 
"Currently there is an oversupply of off the plan development stock currently listed for sale with some of these developments being sold with incentives that are outside of the norm," Opteon said.
"It appears that this market segment may be heading into a period of over supply by late 2016/early 2017 which is likely to have a negative impact on both value levels and rental returns."
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Sydney apartment market could see price correction: research

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Entering the property market is a tough gig for first home buyers, especially when faced with competition from buyers who hold larger buying budgets, some of which has been accrued from property equity earned as a result of recent strong capital gains.  
While home value rises have been moderate over recent years outside of Sydney and Melbourne, it provides little comfort for first home buyers in the two largest cities who struggle to compete with those that already own homes.
In 2008, combined capital city home values fell by -6.1 percent in the space of 9 months. By the end of the year, home values had reached and began to climb further thereafter. 
<a href="/images/2016/05/25/Screen%20Shot%202016-05-26%20at%203.35.10%20PM.png" target="_blank">Click to enlarge</a>
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The growth drivers largely came from two forms of stimulus: aggressive interest rate cuts and a boost to the First Home Owners Grant (FHOG). Since the removal of the FHOG boost and scaling back and complete removal of others, first home buyers have continued to languish at near record-low levels.
The increase in home values across each capital city from December 2008 to April 2016 can be seen in the first of the adjacent charts. Another way to think about this is that if in December 2008 you owned a home worth $500,000 it is now worth $758,418 which is $258,418 more than in December 2008. Looking at this same calculation across each capital city, the increases in value over that time based on a $500,000 home owned in December 2008 are: Sydney ($400,825), Melbourne ($338,866), Brisbane ($73,417), Adelaide ($81,029), Perth ($64,096), Hobart ($11,263), Darwin ($109,293) and Canberra ($126,262).
The data clearly shows that the value property for home owners has undergone some massive rises, the increase in inflation and wages has been comparatively more sedate. 
Although combined capital city home values have increased by 51.7 percent between December 2008 and April 2016, inflation has increased by a significantly lower 17.1 percent over the period. CPI has increased by a greater amount than values in Brisbane, Adelaide, Perth and Hobart indicating ‘real’ home values have fallen. Meanwhile in Sydney, Melbourne, Darwin and Canberra CPI growth has lagged that of home value growth. 
Looking at wages growth between December 2008 and March 2016, the data shows that nationally, and in New South Wales, Victoria and the ACT, it has lagged value growth across the capital cities; wages are now growing at their slowest pace in at least 18 years. 
While the increases highlighted include strong wage increases in the latter part of the mining boom, nonetheless, it shows that in NSW and Vic wages are increasing at a much slower pace than home values in Sydney and Melbourne are. 
The last chart shows the change in the value of new lending (excluding refinances) to investors, owner occupier first home buyers and subsequent buyers between December 2008 and March 2016, and highlights how the value of lending to owner occupier first home buyers is now lower than it was in December 2008 across each state and territory. 
This has occurred despite the increase in home values over the timeframe.
While lending to owner occupier first home buyers has fallen, lending to investors and subsequent buyers has increased in most states and territories with substantial rises in NSW and Vic.
Outside of Sydney and Melbourne home values have increased below or at a similar pace to inflation and wages, however, it is a very different story in the two largest capital cities where existing Sydney and Melbourne home owners have seen significant increases in the ‘real’ value of their home.
Those that do not yet own a property will struggle to compete with investors and upgraders who have been active in the market and where significant equity has been acquired.
<a href="/images/2016/05/25/Screen%20Shot%202016-05-26%20at%203.36.10%20PM.png" target="_blank">Click to enlarge</a>
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The simple answer for first home buyers, particularly in Sydney and Melbourne, is to look to buy properties outside of these cities however, that may seem a little simplistic given jobs creation has not been as strong outside of Sydney and Melbourne and for many moving interstate, employment opportunities are generally a big decision.
Even buying outside of Sydney in nearby regional cities may not be attractive because transport infrastructure does not provide quick and efficient access to Sydney and Melbourne from nearby regional cities. 
Whatever the outcome, we certainly don’t advocate for the return of grants for first home buyers as they have tended to just push up the cost of housing.
Cameron Kusher is research analyst for CoreLogic RP Data. You can contact him <a href="https://blog.corelogic.com.au/about/">here</a>.
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Investors and owner occupiers keeping first home buyers out of market: CoreLogic RP Data's Cameron Kusher

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Houses in Perth are taking an average of 79 days to sell with units at 86 days according to CoreLogic RP Data.
Darwin houses are taking an average of 74 days to sell and units 116 days.
Houses in Sydney are taking 32 days, units 30 and in Melbourne 31 days for houses and 35 for units.
Brisbane homes take an average of 63 days and units 75 days.
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Perth houses taking an average of 79 days to sell: CoreLogic RP Data

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Australian residents buying or selling real property with a market value of $2 million or more need to be aware of new rules which come into effect on 1 July 2016.
Assistant Commissioner Malcolm Allen said Australian residents who are selling a taxable Australian property with a market value of $2 million or more need to obtain a clearance certificate from the ATO, to confirm a 10 per cent withholding amount does not need to be withheld from the transaction.
“The seller needs to provide a clearance certificate to the buyer by settlement, or the buyer will be required to withhold 10% of the sales price and pay this to the ATO,” Mr Allen said.
“We encourage all Australian residents who are looking to sell property with a value of $2 million or more to apply for a clearance certificate as early as possible.
“It is easy to obtain a clearance certificate. The form is available to download through our website, and there is no fee for clearance certificate applications.”
Clearance certificates are valid for 12 months from issue, and must be valid at the time it is made available to the buyer.
Penalties apply where sellers make false or misleading declarations to the ATO, or where the buyer fails to withhold when they should.
The ATO has been working with real estate agents, conveyancers and legal practitioners to ensure the industry is aware of how to help their clients meet their withholding obligations.
The new rules have been introduced to ensure foreign residents meet their capital gains tax liabilities. Amounts withheld will be credited against their final income tax liability assessed on foreign residents’ income tax returns.
The foreign resident capital gains withholding clearance certificate application form is used by Australian resident vendors to notify us that the foreign resident capital gains withholding does not need to be withheld from the sale of taxable Australian real property (the asset). It provides the details of vendors so we can establish their tax residency status.
The entity that has legal title to the asset is the entity that is required to obtain a clearance certificate for foreign resident capital gains withholding purposes. If the legal title of the property is in the name of the trustee who is holding the property on behalf of the trust or superannuation fund then it is the trustee who should apply for the clearance certificate, not the trust or superannuation fund.
The form needs to be completed and lodged with us as early as practical. The vendor will have to provide the purchaser with an ATO issued clearance certificate on or before the day of settlement of the sale of the asset to ensure no withholding occurs.
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