<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=7395 project_image_fid=278194]</p>

<p><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.</p>

<p>"<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.</p>

<p>"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."</p>

<p>[smartcode_project:default project_id=7395 project_image_fid=278196]</p>

<p>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.</p>

<p>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.</p>

<p>"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;</p>

<p>"Every apartment was to feel considered, timeless, and highly functional."</p>

<p>[smartcode_project:default project_id=7395 project_image_fid=278195]</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>"Buyers are looking for spacious, house-like apartments that allow them to downsize without feeling like they are sacrificing comfort or functionality," Hyecorp noted.</p>

<p>"They value large kitchens, generous living areas, ample storage, quality finishes, secure parking, lift access, and low-maintenance living."</p>

<p>[smartcode_project:default project_id=7395 project_image_fid=278204]</p>

<p>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.</p>

<p>Juliet is currently more than 75 per cent sold ahead of its anticipated completion in late 2026.</p>

<p>[smartcode_project_cta:default project_id=7395]</p>


Joel Robinson

Juliet to sit quietly amid Roseville apartment boom

<p>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.</p>

<p><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.</p>

<p>The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=370959]</p>

<p>“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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=370964]</p>

<p>“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.</p>

<p>“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.”</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=371430]</p>

<p>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.</p>

<p>Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.</p>

<p>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.</p>

<p>LPS Group is expected to start construction later this year.</p>

<p>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.</p>

<p>[smartcode_project_cta:default project_id=150017]</p>


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

<p>Are mortgage holders set to get a reprieve from the RBA in 2026?</p>

<p>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.</p>

<p>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.</p>

<p>“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.</p>

<p>"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.</p>

<p>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.</p>

<p>“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.”</p>

<p>Dr Auld said inflation risks and labour market outcomes would be important to watch.</p>

<p>“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.”</p>

<p>She said tighter financial conditions are expected to weigh on housing and activity.</p>

<p>“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.”</p>


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

<p>A local downsizer has splashed $6.5 million on a penthouse in Perifa's Alex &amp; Willow development in Crows Nest.<br />
&nbsp;<br />
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>.<br />
&nbsp;<br />
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.<br />
&nbsp;<br />
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.</p>

<p>[smartcode_project:default project_id=6680 project_image_fid=371325]<br />
&nbsp;<br />
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.<br />
&nbsp;<br />
“This is an exceptional outcome and a clear reflection of sustained buyer demand for premium, well-located downsizer product,” Mansour said.</p>

<p>“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.”<br />
&nbsp;<br />
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.<br />
&nbsp;&nbsp;<br />
Fabrizio Perilli, Managing Director of Perifa and Versatile Group, said the sale marks a defining moment for the project.<br />
&nbsp;<br />
“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;<br />
&nbsp;<br />
“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;</p>

<p>[smartcode_project:default project_id=6680 project_image_fid=338516]<br />
&nbsp;<br />
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;</p>

<p>Completion is slated for early 2027.</p>

<p>[smartcode_project_cta:default project_id=6680]</p>


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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>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."</p>

<p>"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.</p>

<p>"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.</p>

<p>"The design proposal responds to its specific site conditions, acknowledging the vegetation, climate, wind conditions and solar access of the site."</p>

<p>The architecture responds directly to the site's position between Wollongong's urban core and its natural landscape setting.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>Urban Property Group secured the 11,000 sqm Smith Street site in 2022 and has since progressed plans for the broader Keira Place precinct.</p>

<p>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.</p>

<p>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.</p>

<p>"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.</p>

<p>"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."</p>

<p><em>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></em></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>


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

Property market

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<p><span>The Australian Bureau of Statistics (ABS) published building approvals data for August 2015 earlier this week.  The data showed a month-on-month fall in approvals driven by a sharp drop in the number of unit approvals.  Keep in mind that unit approvals tend to be much more volatile than house approvals on a monthly basis.</span></p>
<p><a href="/images/2015/10/06/Chart-1.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/10/06/Chart-1.jpg" alt=""></span></p>
<p><span>Over the month there were 18,071 dwelling approvals which was a decline of -6.9% over the month.  Dwelling approvals hit a record high of 20,215 approvals in March 2015 and they are now -7.5% lower.  It does appear that approvals have peaked notwithstanding the fact that they remain at historically high levels.</span></p>
<p><a href="/images/2015/10/06/Chart-2.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/10/06/Chart-2.jpg" alt=""></span></p>
<p>There were 9,882 houses and 8,819 units approved for construction in August 2015.  House approvals actually increased by 4.4% over the month while unit approvals fell by -16.9%.  Year-on-year house approvals have increased by 2.2% compared to an 8.4% lift in unit approvals.  To further highlight the volatility of unit approvals the 8.4% year-on-year increase in August is well down on the 44.2% year-on-year rise in July.  Although it looks as if approvals have peaked it would not surprise to see a sharp rebound in unit approvals next month.</p>
<p>Across the country there was a record high 226,415 dwellings approved for construction over the 12 months to August 2015.  To put the magnitude of approvals in perspective, two years ago over the year to August 2013 there had been 166,658 dwelling approvals nationally.  There has also been a surge in unit approvals over recent years with a record high 48.8% of all dwelling approvals nationally being for units over the past year.  Again, 2 years ago units accounted for 42.5% of all approvals over the year.</p>
<p><a href="/images/2015/10/06/Chart-3.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2015/10/06/Chart-3.jpg" alt=""></p>
<p>It isn’t just the fact that more units are being built, the type of units being constructed is changing dramatically.  Over the 12 months to August 2015, 25.7% of all unit approvals were for townhouses, 10.1% were low rise (less than 4 storeys) and 64.3% were high-rise (4 storeys or more).  The above chart shows that historically townhouses have received the highest proportion of approvals.  Trends have changed quite swiftly, 2 years ago just 49.2% of all unit approvals were high-rise.  The rise in high-rise approvals is reflective of higher densities within our inner city markets.  High rise unit projects also take longer to build than a house or townhouse and as a result the economic benefit is stretched over a longer period.  Of course the fact that we are approving high-rise units at an unprecedented pace also creates some challenges.  Most notably who are buying these properties and over the longer term who is going to live in these units.</p>
<p>The data indicates that dwelling approvals have probably peaked for the current phase however, the number of approvals remains elevated.  This has created a significant pipeline of new construction much of which is high-rise and will take some time to complete.  Because unit development is so dependent upon presales it will be interesting to see just how many of these units are ultimately built.</p>
<p><em>Cameron Kusher is research analyst for CoreLogic RP Data. You can contact him <a href="https://blog.corelogic.com.au/author/cameron-kusher/" target="_blank">here</a>.</em></p>
<p><span> </span></p>
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ckusher-ujnxiKuFQs

Dwelling approvals remain elevated but fall in August: Cameron Kusher 

<html><body>
<p><span>Belinda Green, the former Miss World, and her farmer husband, Steve Mason have listed their Cowra property, Glen Echo.</span></p>
<p><span>Belinda and Steve, who married three years ago at Nyngan during one of their regular Desert Duel charity car rallies, bought the 50 hectare farm in 2004.</span></p>
<p><span>It comes with 1896 homestead in established gardens with nearby swimming pond.</span></p>
<p><span>They are now looking to downsize.</span></p>
<p><span>"If we could shrink it to an acre we'd have been happy to stay until our rocking chair days.</span></p>
<p><span>"But in our 11 years we've lived the dream," she said.</span></p>
<p><span>"We have never sat still, so now it is time to slow the pace a bit.</span></p>
<p><span>"The community means a lot to us, we will always be involved in the community," she added.</span></p>
<p>The farm, located <a href="https://www.meares.com.au/property/glenecho/gallery/glen-echo.htm" target="_blank">16km west of Cowra</a>, 300km from Sydney, was long associated with the Hibberson family.</p>
<p><span>The property is set for online auction through Meares &amp; Co agent Chris Meares in early November. </span></p>
<p><span>Belinda has had a full life, but is always fondly recalled for her pageantry appearances, winning the 1972 Miss World contest at the age of 20.</span></p>
<p><span>She became the second woman from Australia to win the title; the first, Penelope Plummer, was crowned Miss World four years earlier. </span></p>
<p><span>Long retired from pageantry and even her subsequent television work, which included being a Beauty And The Beast panelist, Belinda has busily engaged in charity work, awarded an Order of Australia for services to the community in 2013.</span></p>
<p><span>There's also been much of her time rescuing, and caring for, injured and orphaned wildlife, through Wildcare, specialising in looking after kangaroos and wallabies, as featured recently on the cover girl of the Central West Lifestyle magazine.</span></p>
<p><span>She's currently studying as a veterinary nurse at Southern Cross Wildlife care centre, an animal hospital at Braidwood.</span></p>
<p><span>Their three bedroom Cowra homestead is positioned on the highest point of the property overlooking the farm’s dam and cropping paddocks, currently leased to a local farmer. Its productive acres are suited to grazing sheep and cattle, cash and fodder cropping such as lucerne, canola and oats or spelling horses.</span></p>
<p><span>Green, the mother of two daughters from her second marriage, and Steve's three children, prompts them to be increasingly spending time away from the farm, in Sydney and overseas.</span></p>
<p><em>This article was first published in the Saturday Daily Telegraph.</em></p>
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jchancellor-FAypfDUnLy

Belinda Green lists Cowra farm

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<p><span>Australian Winter Olympics a</span><span>erial ski champion Alisa Camplin has her Hawthorn home listed for October 24 auction.</span></p>
<p><span>The renovated weatherboard Victorian home at <a href="https://www.realestateview.com.au/Real-Estate/8-colvin-grove-hawthorn/Property-Details-buy-residential-9593102" target="_blank"><span>8 Colvin Grove</span></a> was her first home.</span></p>
<p><span>More than $2 million is tipped for the double fronted four bedroom home.</span></p>
<p><span>It last traded at $1,325,000 in 2008.</span></p>
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Alisa Camplin lists Hawthorn home

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<p><span>On the last day of the month the Reserve Bank released its </span>Financial Aggregates <span>data for the month of August 2015, which showed another solid month for both housing credit growth (+0.6%) and business credit growth (+0.5%).</span></p>
<p><a href="/images/2015/10/01/RBA1.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/10/01/RBA1.jpg" alt=""></span></p>
<p> </p>
<div>Over the year housing (+7.5 per cent) and business (+5.3 per cent) credit has helped to take total private sector credit growth to its highest level since 2008 at +6.3 per cent.</div>
<p><strong><span style="text-decoration: underline;">Business credit grows</span></strong></p>
<div>Total business credit outstanding ticked up to above $800 billion, having recovered steadily since the financial crisis.</div>
<div> </div>
<div><a href="/images/2015/10/01/RBA2.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/10/01/RBA2.jpg" alt=""></div>
<div> </div>
<div><span>Annual credit growth for the business sector increased at its strongest annual pace since February 2009, with Westpac forecasting further moderate gains in the months ahead.</span></div>
<div><span> </span></div>
<div><a href="/images/2015/10/01/RBA3.jpg" target="_blank"><span>Click to enlarge</span></a></div>
<div><span><img src="/images/2015/10/01/RBA3.jpg" alt=""></span></div>
<div> </div>
<div> </div>
<div>
<strong><span style="text-decoration: underline;">Investor loans slowed</span></strong><br><br><div>There has evidently been a little innocent jiggery-pokery by Australia's major lenders when it comes to the splitting of investor and owner-occupier credit.</div>
<br><div>As you can see in the chart below, last month it transpired that tens of billions of dollars of credit had been misreported as owner-occupier credit, when in fact in related to investment housing.<br><br>The direction of the misstatement can hardly come as a shock.</div>
<div> </div>
<div>As a result the share of outstanding credit for investment housing is materially higher than previously had been thought (or at least, reported - I expect few market participants would be surprised).</div>
<div> </div>
<div>That said, the slow drip of measures taken to douse investor credit first became a trickle and now it is a flow, and it appears that APRA's intervention has now taken the sting right out of the investment lending sector, with some lenders having put the kibosh on new investment loans altogether.<br><br>You can see the impact of the restatement and then APRA's macroprudential measures in the red line below, with the total stock of outstanding credit not rising on a seasonally adjusted basis this month for the first time since 2011.</div>
<div> </div>
<div><a href="/images/2015/10/01/RBA4.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/10/01/RBA4.jpg" alt=""></div>
<div> </div>
<div>
<div>Overall this is a healthy move for the market, which was at risk of becoming too "top heavy" with investors.<br><br>Although there is no oversupply of dwellings in aggregate, there clearly were too many investors piling into the market which had helped to slow rental growth to a 20 year low.<br><br><strong><span style="text-decoration: underline;">The return of owner-occupiers</span></strong>
</div>
<div> </div>
<div>However, it is too simplistic to say that the slowdown in investor lending will automatically put dwelling price growth into reverse gear.</div>
<div> </div>
<div>If there is one thing we know about banks in this country it is that they will look to lend against housing where possible, and as such we can expect lenders to push owner-occupier loans ever harder, using enticing mortgage rates of around 4 per cent to in order to expand home loan books.<br><br>The Reserve Bank Governor himself has predicted that more folk will opt to place themselves as "owner-occupiers" in due course. </div>
<br><div>Indeed, while investor credit is now almost certain to fall below APRA's advisory +10 per cent growth threshold over the next few months, owner-occupier credit has already been picking up the slack in rising by rising by +0.6 per cent in August.</div>
<div> </div>
<div>There has been a clear pick-up in the pace of owner-occupier credit growth over the past three months, and annualised home lending growth to owner-occupiers has increased to 43 month high at +5.6 per cent.</div>
<div>
<br>In turn this has helped total home lending credit growth rise to +7.5 per cent, which is now a 59 month high.</div>
<p><a href="/images/2015/10/01/RBA5.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2015/10/01/RBA5.jpg" alt=""></p>
<div><strong><span style="text-decoration: underline;">Investor share of credit falls</span></strong></div>
<div> </div>
<div>The restatement of the categorisation of investor loans saw the total share of investor credit blow out to an unprecedented 38.6 per cent last month.</div>
<div>However, with APRA's cooling measures now taking effect the investor share ticked downwards in August for the first time in 30 months, more evidence that the regulatory intervention will have a material impact on the investor sector.</div>
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<p><strong><span style="text-decoration: underline;">The wrap</span></strong></p>
<div> </div>
<div>Overall it was another month of strengthening housing credit, with owner-occupiers increasingly willing to take advantage of record low borrowing rates. </div>
<div> </div>
<div>Investor credit growth looks set to fall back to an annual growth rate of below 10 per cent, but in total housing credit is still picking up its pace to multi-year highs.</div>
<div> </div>
<div>---</div>
<div> </div>
<div>August was a quieter month for initial capital raised on the Australian Securities Exchange, although there was a strong volume of secondary cap raisings.<br><br>Total capital raised on a rolling annual basis has increased to its highest level since the great flood of recapitalisation over the year to May 2010.</div>
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<div>
<p><span><em>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>.</em><br></span></p>
<p><em>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>.</em></p>
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Owner-occupiers pick up housing market baton: Pete Wargent

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<div style="text-align: left;" align="center"><span style="line-height: 1.3em;">The home with the longest days on market featured on SQM Research's Top Ten Discounted Properties Nationwide has been listed since 29 July 2011.</span></div>
<div style="text-align: left;" align="center"><span style="line-height: 1.3em;"> </span></div>
<div style="text-align: left;" align="center"><span style="line-height: 1.3em;">The property, <a href="https://www.realestate.com.au/property-house-sa-strathalbyn-107567610" target="_blank">2 Rankine Street, Strathalbyn</a>, South Australia, is number eight on the top ten list. Since 2011 the price of the property has been slashed a massive 30%, with a total reduction of $150,000.</span></div>
<div style="text-align: left;" align="center"><span style="line-height: 1.3em;"> </span></div>
<div style="text-align: left;" align="center"><span style="line-height: 1.3em;">SQM Research managing director Louis Christopher said there doesn't seem to be a problem with supply and demand, as the area recently recorded a low vacancy rate of 1.6% for August. </span></div>
<div style="text-align: left;" align="center"><span style="line-height: 1.3em;"> </span></div>
<div style="text-align: left;" align="center"><span style="line-height: 1.3em;">"It seems that the vendor is not prepared to let this one go so easy... This makes us question why this property is still not selling?... Is it overvalued?," he said</span></div>
<div style="text-align: left;" align="center"><span style="line-height: 1.3em;"> </span></div>
<div style="text-align: left;" align="center"><span style="line-height: 1.3em;">"The property is not necessarily overvalued as its current asking price is just below local median asking prices. </span></div>
<div style="text-align: left;" align="center"><span style="line-height: 1.3em;"> </span></div>
<div style="text-align: left;" align="center"><span style="line-height: 1.3em;">"This reduction percentage is somewhat small compared to other properties on our list that have been on the market for much less time. Take for example, <a href="https://www.realestate.com.au/property-house-sa-freeling-119221667" target="_blank">24 Coulls Street, Freeling</a>, which was reduced by 46% with only 196 days on the market."</span></div>
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<p style="text-align: left;"><img src="/images/2015/10/01/Screen%20Shot%202015-10-01%20at%208.22.52%20AM.png" alt=""></p>
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SA home leads longest time on market: SQM Research

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<p><span style="line-height: 1.3em;">McGrath Estate Agents has opened a new franchise office in the inner city Brisbane </span>suburb of Wilston, the seventh in the city.</p>
<p>Scott Osborne and Craig Lea will be co principals. They previously ran the independent agency, Style Estate Agents Wilston.</p>
<p>According to Mr Lea, <span style="line-height: 1.3em;">Wilston offers buyers a mixture of property types, from Queenslanders and pre-war cottages to contemporary homes, townhouses and apartments, with workers cottages and Queenslanders are particularly popular in the $750,000 to $1,000,000 price range.</span></p>
<p>McGrath Chief Executive John McGrath said Brisbane represents outstanding value in today’s property market and I believe will see some excellent capital growth going forward. </p>
<p>“Inner Brisbane, close to the CBD, represents a lifestyle element that people find very attractive whether you are an owner-occupier or an investor who is focusing on renter appeal,” he said.</p>
<p><span style="line-height: 1.3em;">The Wilston branch will service the local area from Wavell Heights in the north, to Windsor in the south, to Wooloowin in the east, and Alderley in the west.</span></p>
<p>The median price for a home in<a href="/news"> Wilston is $840,000</a>, according to CoreLogic RP Data.</p>
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McGrath opens seventh Brisbane office

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<p>As they do every year, new listings increased over the first month of spring, with further additions of stock to the market expected to ramp up until the end of year slow-down in December.</p>
<p>In addition to the number of listings being added to the market CoreLogic RP Data’s lead listings indicator is also showing a 1.6% month-on-month change (seasonally adjusted), with Tasmania (+5.2%) and Victoria (3.4%) showing the most activity of listings being prepared for sale.</p>
<p>In terms of listing stock, the largest proportionate increases this month relative to last month have been observed in Brisbane, where the number of residential properties added to the market over the four weeks ending 27 September was 12.9% higher than the four week period a month earlier. Following Brisbane was Hobart (12.5% higher) and Adelaide (11.0% higher).</p>
<p>Despite the increase in new listings, total stock levels remain just 1.2 per cent higher relative to one year ago across the combined capital cities, while nationally; total listings are -0.6 per cent lower. As at 27 September, there were 234,094 residential properties available for sale across Australia, while one year ago, there were 235,399.</p>
<p>When compared to last year, across the capital cities, total listings are higher in Perth (+20.7%), Darwin (+12.3%) and for the first time this year, Sydney (+4.7%). In Sydney, one of the reasons the total stock levels are now higher than one year ago is likely due to the increase in stock being added to the market. New listings across the city are 16 per cent higher than one year ago, to put this into perspective, over the comparable 28 day period one year ago, 7,431 listings were newly added to the market, compared to 8,617 this year.</p>
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<p><span>Across the individual states and territories, there are more listings than one year ago in Western Australia, Northern Territory (both +12.9%) and to a lesser degree, South Australia (+2.2%), while across these three regions, the number of new listings added to the market over the past four weeks is lower than one year ago. In all other states and territories, total listings are currently lower than they were relative to last year.</span></p>
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First month of spring returns lift in new listings: CoreLogic RP Data's Shana Miller

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<p><span>Investors continue to show a strong appetite for main road convenience retail centres, making them one of the most sought after bite-sized commercial property investments in the current market.</span></p>
<p><span>The Holland Place Convenience Centre at 926 Logan Road at Holland Park West in Brisbane’s inner south-east is the latest centre to be traded, sold for $3.4 million on 5.97% yield.</span></p>
<p><span>In a deal negotiated by Michael Harcourt of Savills, the fully-leased centre was sold on behalf of Ken Woodley, the co-founder of Metro Property Development.</span></p>
<p><span>Mr Woodley held the Holland Place Convenience Centre as a personal investment.</span></p>
<p><span>Its sale is the second such convenience centre that Savills has sold for him in recent years, following the sale of the Sherwood Court convenience centre in Brisbane’s south-west for $3.9 million in 2013.</span></p>
<p><span>Mr Harcourt said that Mr Woodley has divested his investment portfolio in favour of long term leased service station investments.</span></p>
<p><span>Mr Harcourt said the Holland Place Convenience Centre presented a highly attractive investment opportunity. <span><br></span></span></p>
<p><span>He said the centre is fully leased to a mix of retail operators including a Friendly Grocer supermarket, a Thai restaurant, bakery and hairdresser.</span></p>
<p><span>“The centre has enjoyed an excellent history of tenancy occupation and its success is underwritten by its prominent left-hand outbound location on one of the busiest arterial roads in Brisbane, within just five kilometres of the CBD,” he said.</span></p>
<p><span>Mr Harcourt said the sale highlights the strength of the sub-$5 million retail investment market, in particular well-established and prominently located convenience centres.</span></p>
<p><span>"High quality convenience centres in main road locations are continuing to attract strong demand from private investors in the current market.”</span></p>
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Holland Place Convenience Centre sells for $3.4 million‏

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<p><span>Property and business services along with government/community organisations have been the key drivers of Melbourne’s CBD office leasing market over the last five years, according to Savills Australia research.</span></p>
<p><span>The two sectors accounted for a combined 70% of square metres leased in the 12 months to June while the finance &amp; insurance sector which in 2012 accounted for 38% of CBD leases has fallen to just 8%.</span></p>
<p><span>According to Savills’ Victorian head of research, Glenn Lampard, the figures reflect the divergent policies of Liberal and Labor governments, the rapid rise of the education sector and the enormous amount of money that has been poured into property investment over recent years.</span></p>
<p><span>The burgeoning education sector had been a key driver of the progressive rise in the amount of space being taken up by the government/community sector with student numbers nationally on track to reach a new record of circa 660,000 by year’s end (based on March quarter Department of Education data) with the bulk of those students in Sydney and Melbourne.</span></p>
<p><span>"As is usually the case the election of a Labor Government saw an increase in public service numbers and necessarily, the amount of space leased, while the lure of Melbourne’s highly regarded education sector coupled with the fall in the Australian dollar has bolstered an already strong education sector.</span></p>
<p><span>"Property and business services have also been boosted by the movement of the dollar which has helped to drive the strongest property investment market in a decade,’’ Mr Lampard said.</span></p>
<p><span>He said the apparent collapse in the finance and insurance sector’s share of the leasing market was a product of the major institutions, including NAB and ANZ, having concluded long term leasing agreements in the year to June 2012, requirements which would not come back to the market for several years.</span></p>
<p><span>Melbourne’s education market accounted for upwards of 300,000 square metres, a market which, according to 1987 figures, accounted for only around 20,000 square metres of CBD space.</span></p>
<p><span>Mr Lampard said the CBD fringe market had shown a similar profile with Property and Business Services (47%) along with Government/Community tenancies (28%) accounting for 75% of the market and Finance &amp; Insurance, which peaked in 2012 at 36%, taking just 9% of leases concluded in the 12 months.</span></p>
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Burgeoning education sector dominates Melbourne leasing market

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<div>The UK Land Registry released its latest House Price Index for the month of August 2015, which showed prices rising in the East (+8.4% year-on-year), South East (+7.6%), and yet again, in London (+6.6%).</div>
<div> </div>
<div>The largest gain for the month was seen in the capital city of London (+1.7%), while Cambridgeshire recorded yet another robust +7.8% year-on-year gain.</div>
<div> </div>
<div>On the other hand prices declined in the month in a number of the regions located away from The Smoke, including in t'North West, Yorkshire &amp; t'Humber, and in the East Midlands. </div>
<div>
<br>Prices have also remained relatively flat over the past year in Wales and the North East like.<br><br><strong><span style="text-decoration: underline;">Not shorting shortages</span></strong>
</div>
<div> </div>
<div>There have been some alarming statistics reported over recent years projecting dramatic housing shortages around London and the South East, and rarely is progess made on how the supply shortages will be tackled.</div>
<div>If there is one thing there <em>has</em> been a glut of over the past 20 years years it has been hapless experts trying in vain to pick turning points in the London housing market.</div>
<div> </div>
<div>Meanwhile average house London prices have increased from<span> <span>£</span>91,000 to nearly <span>£</span>500,000 (A$1,090,000), comfortably greater than a fivefold increase (today's average price is 5.4 times higher than in 1995, to be precise).</span>
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<div>
<div>Different strokes for different folks, of course, but the single best investment decision I've made over the years has simply been to never sell a property, regardless of what the 'experts' in the media say.<br><br>Buy prime location capital city properties, never sell them. Sure you'll get cyclical downturns - see 2008, for example, which was quite a significant pull-back - but the long term trend is clear enough, provided you do buy in the right locations.<br><br>
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<div><strong><span style="text-decoration: underline;">Down under</span></strong></div>
<div> </div>
<div>It is worth noting that cash rate futures markets in Australia are pricing in at least one more interest rate cut in this cycle, while implied yields already suggest that two further cuts by 2017 is a distinct possibility.</div>
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<div> </div>
<div>
<div>Even in the more bullish case scenarios, it appears likely that there are couple of years worth of slack in the labour market to be mopped up.<br><br>You can clearly see in the first chart of this blog post above the impact of the UK's macroprudential measures in 2014.<br><br>The City regulator the Financial Conduct Authority (FCA) "ran interference" with a series of measures known as the Mortgage Market Review last year, which temporarily disrupted growth in the London housing market.</div>
<div> </div>
<div>Macroprudential measures can undoubtedly slow the market for a while - HSBC will be the next bank to put the cold freeze on new investor loans in Australia - but ultimately nothing gets to work on cooling a housing market quite like higher interest rates.</div>
<div> </div>
<div>Unfortunately in Britain the emerging threat of an interest rate hike in 2016 (after a long hiatus since March 2009) now seems to be resulting in a surge of activity as buyers dive in before the Bank of England taps on the brakes.</div>
<div> </div>
<div>The Bank of England's mortgage approvals figures released this morning revealed the highest number of approvals in 19 months and the largest monthly jump in borrowing since 2008, with a net increase of <span>£</span>3.4 billion smashing analyst expectations - so the market appears set to accelerate once again, fuelled by record low mortgage rates.</div>
<div> </div>
<div>All of these are factors worth taking into account as the line of market observers trying to pick the next turning point in Sydney's housing market lengthens by the day. </div>
<div> </div>
<div>
<p><span><em>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>.</em><br></span></p>
<p><em>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>.</em></p>
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