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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Record-low interest rates, strong demand and record sales volumes kept the Australian property market going strong in 2015.
In 2016, supply will continue to support demand, but will demand hold up in the long-term? 
The WBP Property Group has analysed the market and are out with forecasts and trends. Here's a breakdown and analysis of the national market:
In Sydney, the market is showing signs of cooling. Declining auction clearance rates were to be expected, indicative of an overheated market. Prices have increased significantly in the past 12 months, seeing Sydney transition from a local buyer market to an investor-dominated market. 
In 2016, greater supply will hit the Sydney market, specifically off the plan and new developments. 
For investing, buyers would be wise to avoid Campelltown and the south western area of Sydney, which are considered high risk due to the large number of off the plan sales over the last 12 months to two years, says the group.
In Melbourne, indications are that established houses within 10 kilometres of the city and in the middle ring might be the strongest property class for growth in 2016. Demand for these freestanding houses has increased considerably through the second half of 2015, with little signs of abating. 
Perth is experiencing an oversupply of residential property, especially apartments. Rental values have softened. 
If economic conditions continue to weaken property values could retreat further in the short to medium term. 
Statistics show there is now over 16,000 properties for sale and nearly 9,000 properties for rent in the Perth metropolitan area, a clear indication of a softening and that property should priced realistically for clearance. 
Adelaide remains stable when compared to Melbourne and Sydney. There is limited supply in the prestige market, which is likely to drive heightened demand in 2016. 
Queensland will also see greater consistency in property prices as population rises, exporter confidence grows and the tourism dollar affects local trading. 
According to the group, fewer than 5% of properties on the market are specifically suited for long-term investment, and some trends that emerged from the data are: 
1. Auctions are king: most popular sales technique in inner-city areas
2. Record low rates: Australia’s low interest rates had a distinct flow on effect for vendors and buyers
3. For auctions, winter months performed better than years prior
4. Two bedroom, one bathroom, one car space most popular investment-grade property type
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j.ballantyne1990-6AQqhLzZaK

Will 2016 follow this year's property market? Valuers WBP breaks it down

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The historic sandstone cottage, Jeeda at Palm Beach has been sold again and at same price as last time.
The buyer this time was neighbour and architect Susan Rothwell through David Edwards at LJ Hooker. Chinese interests bought the Sunrise Road property from the art dealer Roger McIlroy, the former head of Christie's in Australia in 2014 for $4.32 million.
<a href="https://www.domain.com.au/40-sunrise-road-palm-beach-nsw-2108-2009047176" target="_blank">The three bedroom, two bathroom cottage</a>, which had been in the McIlroy family since 1922, sits on a 1534 sqm site. It was approved for demolition in 2012 by Pittwater Council.
The site now provides one of the last prime building sites of Sunrise Hill, where Susan has been quite active designing for the summer set.
This article was first published in the Saturday Daily Telegraph. 
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jchancellor-FAypfDUnLy

Sandstone Jeeda sold at Palm Beach

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An original freestanding cottage, a registered boarding house, in Bondi Junction has sold for $2.9 million.
The 18 Waverley Crescent property with classic Victorian styling comes with redevelopment potential, subject to council approval.
<a href="https://www.realestate.com.au/property-house-nsw-bondi+junction-121377234" target="_blank">The marketing</a> showed no internal photos given its condition.
Built on a land area of 488 square metre, the cottage has timber flooring, ornate ceilings and a neglected rear yard.
The home is currently divided into four lettable apartments. It also has four vehicle lock-up garages.
The selling agent was Kevin Mendes of Laing &amp; Simmons.
The house is a short walk from Bondi Junction, with plenty of shopping, dining and transport options.
<a href="/expert-insights/buying/bondi-junction-boarding-house-sales-achieve-record-results">Two private local investors</a> snapped up separate boarding houses in Bondi Junction for $2.25 million each earlier this month, reinforcing the view that Sydney’s eastern suburbs are one of the city’s most sought-after investment areas for boarding houses. 
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Bondi Junction boarding house sold for $2.9 million

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Steve McCann, chief of the international property group Lendlease, has secured the snappy $6.33 million sale of his four level Cremorne property.
Steve bought the then newly completed home on the southern shores of Long Bay from Platino's George Revay in 2009 for $5.6 million, shortly after becoming the group's chief executive.
The four level property was a surprise quick sale as it features two inclinations, which makes it quite hard  to secure any sale.
The home, on 859 sqm comes with numerous terraces leading to the boatshed with slipway, plus a 100 year old sandstone tidal pool.
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-cremorne-nsw-2090/280604" target="_blank">Piers Van Hamburg of McGrath Neutral Bay</a> had the listing with $6 million plus price guidance. 
The harbourfront comes with five bedrooms, four bathrooms, two offices and a library. 
This article was first published in the Saturday Daily Telegraph.
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Lendlease chief Steve McCann sells Cremorne waterfront

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<div>When I wrote my book Get a Financial Grip in 2011, I predicted a surge in property prices for a number of key Sydney suburbs located within a comfortable ten minute commute of the Central Business District, particularly those with outstanding rail transport links.</div>
<div> </div>
<div>In the event, actually most parts of Sydney have been through a real estate bonanza since that time, with solid picks demonstrating capital growth of around 60 per cent since early 2012. </div>
<div> </div>
<div>Although Sydney is presently set for a multi-year $70 billion infrastructure boom with the state coffers overflowing, preliminary auction clearance rates this week once again confirmed that many distant or outer suburbs are now wallowing in the midst of  a reversal.</div>
<div> </div>
<div>Preliminary clearance rates (CoreLogic-RP Data)</div>
<div>Inner west - 75 per cent</div>
<div>South west - 30 per cent</div>
<div>Blacktown - 22 per cent </div>
<div>Outer west - n/a</div>
<div> </div>
<div>House and land prices appreciating faster close to the city over time - explained by housing market economics as the "bid-rent curve" - partly equates to the eastern, inner western and lower north shore suburbs being the most conveniently placed for the city, lifestyle, entertainment, and Sydney beaches. </div>
<div> </div>
<div>And partly this dynamic is due to the simple geometry of concentric rings: an inner 6km ring has just 113 square kilometres of land therein, as compared to 1,250 square kilometres in the band located 30-36km from the city (the bit that is in the Pacific Ocean notwithstanding). Simply put, there is stacks of land available for development in the outer west and south west; but close to the city it is not so.</div>
<div> </div>
<div>Perhaps more important than any of this, however, is one other factor: the location of the new jobs being created in Sydney.</div>
<div> </div>
<div>Jobs deficits and surpluses</div>
<div> </div>
<div>My former employers Deloitte released another outstanding report this week entitled Designing Western Sydney - Shaping Future Cities, with this simple graphic neatly encapsulating one of the greatest challenges facing the harbour city.</div>
<a href="/images/2015/12/16/Deloitte.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/12/16/Deloitte.jpg" alt=""> 
<div>Eastern Sydney - which if you are unfamiliar with the geography of Sydney, for the purposes of this report is the bit around where the city and the harbour is located - has created thousands more jobs than workers for a jobs surplus of around 175,000, and is forecast to continue doing more of the same over the decade ahead.</div>
<div> </div>
<div>Western Sydney, on the other hand, has thousands more workers (1,088,000) than jobs (881,000). The net result is that each working day well over 300,000 Western Sydney residents travel out of the region to work, compared to only 100,000 travelling into the region, for a jobs deficit of approximately 200,000.</div>
<div> </div>
<div>It is all well and good to suggest that aspiring homeowners should simply pack up and head west for more affordable housing options, but if this requires an hour long commute across congested road or rail, in aggregate this will fail to transpire. Notes Deloitte:</div>
<div> </div>
<div>"Place matters more than ever. As telecommunications and travel have grown steadily cheaper, people have chosen to live closer together rather than further apart".</div>
<div> </div>
<div>Worsening jos deficit</div>
<div> </div>
<div>The Western Sydney jobs deficit is projected to get much worse. Through 2031 more than half of the city's population growth is expected to be in Western Sydney at 52 per cent - with an extra 1 million residents expected and an estimated 664,000 new homes needed in the region - yet only 38 per cent of the new Sydney jobs are expected to be created there.</div>
<div> </div>
<div>By 2041 it is projected that Western Sydney will have a colossal jobs deficit of 340,000, while conversely Eastern Sydney is projected to have a surplus of some 238,000 jobs, with the "high value" professional and business services jobs overwhelmingly centred on the east and only a "comparative weakness" in the west (which is also home to 8 of the 10 poorest LGAs).</div>
<div> </div>
<div>Thus by 2041 it is projected that an extra 140,000 persons per day will be using the already congested transport links from Western Sydney, which would require 19 new freeways, six new train lines, or 1,700 new buses.</div>
<div> </div>
<div>It is little wonder, therefore, that Sydneysiders place a premium upon place over space, and continue to target the suburbs close to the city.</div>
<div> </div>
<div>Levers</div>
<div> </div>
<div>With easy monetary policy and a lower dollar the Sydney economy is firing on all cylinders, and it is likely that the Western Sydney region can generate 110,000 to 120,000 new jobs by the end of the decade as things stand, but Deloitte has laid down the challenge for 200,000 great new jobs to be created. </div>
<div> </div>
<div>Deloitte identifies 25 strategies and seven "levers" that can be used to generate 200,000 great Western Sydney jobs, particuarly within the health, international education, manufacturing, agribusiness. tourism, cultural, and "enabling" industries (financial services, construction, transport &amp; logistics, retail, and government administration). </div>
<div> </div>
<div>Although some Australians oppose population growth and the increased density of living, it can without question benefit economic standing, with productivity, the labour force, and the way in which businesses interact with each other all gaining from proximity, and the capital cities acting as the "engines of growth". Over the next decade Gross State Product per capita is thus expected to soar by 30%.</div>
<div>
 Although few seem to have realised it yet, the next Sydney sector to boom will be education, evidenced through a massive influx of international students.</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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pwargent-M4siyDbqQY

Western Sydney's job surge: Pete Wargent

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Despite the surge in confidence, sentiment in the property market for the past few months has been soft on the back of major banks raising rates and the expected increase in stock on market, the REIV noted.
<a href="/news">Every month the REIV surveys members</a> on the current and future expectations of the performance of the market. 
<a href="/images/2015/12/16/Screen%20Shot%202015-12-17%20at%209.02.09%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/12/16/Screen%20Shot%202015-12-17%20at%209.02.09%20AM.png" alt="">
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Estate agencies more pessimistic than actual Melbourne market: REIV

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The celebrity stylist Sibella Court can't find a buyer for her redundant rustic Paddington corner terrace even by lowering the asking price by almost $300,000.
The Victorian-era shopfront home, which helped launch Court’s The Society Inc, came onto the market several months ago at $1.65 million given her base now is in a vast warehouse at St Peters. The asking price now sits at $1.365 million.
She resides in Bondi in a shared mansion with her partner, Ben Harper, and their daughter, Silver. 
The redundant two-storey, home-cum-shopfront remains <a href="https://www.bresicwhitney.com.au/buy/27-alexander-street-paddington-11889" target="_blank">listed through BresicWhitney agent Darren Pearce</a> by the host of the ABC's Restoration Australia who bought it in early 2008 for $900,000 from publican Peter Wadsworth, after she'd returned from a decade in New York as a homewares stylist.
This article was first published in the Saturday Daily Telegraph.
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Sibella Court's Paddo price woes 

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Home values in Sydney have shown incredible growth over the past three-and-a-half years, notes estate agent John McGrath in his latest Switzer blog. 
Sydney’s median home values (all properties combined) have risen by 48% since the growth cycle began in May/June 2012, latest figures from CoreLogic RP Data reveal.
By comparison, Melbourne is up 31.5% over the same timeframe, with Brisbane next at 15%.
Among the other capitals: Darwin 12.6%; Adelaide 10.9%; Perth 10.7%; Canberra 9.6%; and Hobart 6.3%.
On a national scale, it’s been a two-tier market led by the East Coast since 2012, he says.
But now things are slowing down.
"Sydney has cooled but I’m not concerned. What is really important to realise is that Sydney will not stop growing in value, it’s just going to settle and return to a normal long-term pace of incremental growth," says McGrath.
"Yes, I think it’s fair to say the boom in Sydney is probably over. Auction clearance rates have dipped from the 80% band mid-year to the 50% band now and that’s quite a drop. Of course, supply has increased over Spring but that alone doesn’t explain a 30% decline in clearances. The market is simply cooling down now and that’s a really good thing." 
After such a long run of growth, some consolidation might be expected. New price benchmarks have been set for all types of properties right across the city and it might take a while for those prices to be cemented in, he says.  
According to him, three major factors have slowed Sydney down: 
1. A tightening of lending criteria for investors has had a significant impact, as investors have been a driving force in this boom
2. Many investors who still meet lending criteria are now looking outside Sydney. When you get rapid capital growth, rental yields inevitably decline and that’s the case in Sydney, with houses yielding 3.2% and apartments 4.1%.  Brisbane offers the highest yields of the major capitals at 4.3% for houses and 5.3% for apartments – and more importantly, Brisbane has greater scope for imminent capital growth 
3. Real estate markets are cyclical. At some point in a growth cycle, every market will reach a peak and plateau. 
When markets begin to cool, it’s inevitable that there will be small drops in prices month-to-month and that’s what happened in Sydney in November. 
The median house price fell -1.5% and apartments -0.7%.
But there’s no need to be too concerned as this was expected as this is normal at the end of a boom, he says.
The important thing is to distinguish between the end of a boom and the end of a growth cycle. It’s the end of the boom, not the growth cycle, he concludes. 
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Sydney has cooled, but it will not stop growing in value in 2016: John McGrath

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The former Fire Station in Sydney's Fairfield has fetched $1.5 million at auction, $400,000 above the reserve. 
The <a href="https://www.realcommercial.com.au/property-offices-nsw-fairfield-501775746" target="_blank">3 William Street</a> property sits on a 955 square metre site and is zoned for mixed use, providing an opportunity for mixed use retail, commercial, education and/or residential developments in the future. 
“We had strong interest from local owners, property developers, owner-occupiers and opportunistic investors,” said selling agent Harry Bui of Colliers International.  
“The purchaser was a private developer who bought the property with plans to retain the front heritage building for a commercial investment and redevelop the balance of the site for a mixed use development in the near future."
Fire &amp; Rescue NSW recently relocated to their new premises on Fairfield Street, Fairfield East. Hence, the auction to dispose of the William Street asset.
The deal comes on the back of the Cabramatta Fire Station that sold earlier this year for $2.1 million.
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jonathanchancellor-7SQnKwU6yx

Fairfield Fire Station fetches $400,000 above reserve at auction

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The RBA has published a graph showing RMBS arrears by states.
The RBA assistant governor Guy Debelle suggests its shows that the current distribution of arrears are consistent with the variation in economic conditions across the states, though at the same time all arrears rates are relatively low in terms of credit risks.
"Of course, credit risk is not so much about the averages but the distributions," he noted.
"Having the loan level data enables an insight into the characteristics of the loans in the various tails of the distribution that warrant closer attention.
"It will also allow an assessment of the correlations between the various drivers of risk that may lead to credit deterioration."
Last month it was forecast delinquency and default rates for Australian residential mortgage backed securities (RMBS) and asset backed securities (ABS) will rise slightly from their current low levels in 2016, due to slower economic growth and a rise in unemployment, according to the report by Moody's Investor Service. 
The RBA graph was presented in his speech to the 28th Australasian Finance and Banking Conference on the liquidity regime that has been in operation in Australia.
With the caveat that the data reporting is still in its infancy, it's already apparent that there are many potential benefits coming from the understanding of the data he said.
The data covers around 2 million housing loans of the total of the approximately 6 million such loans on issue currently.
<a href="/images/2015/12/16/Screen%20Shot%202015-12-16%20at%2011.40.02%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/12/16/Screen%20Shot%202015-12-16%20at%2011.40.02%20AM.png" alt="">
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