The long-awaited redevelopment of the former Eastlakes Shopping Centre site has reached a major milestone, with Conquest's plans for a new mixed-use precinct officially placed on public exhibition.

The State Significant Development Application would transform the 1.7-hectare site at <a href="https://www.apartments.com.au/new-apartments/19a-evans-avenue-eastlakes-nsw-2018">19A Evans Avenue</a> into one of Sydney's largest urban renewal projects, delivering 736 apartments above a new shopping centre anchored by Woolworths, alongside specialty retail, dining, commercial space and new public open spaces.

The public exhibition marks the next chapter for the project after <a href="https://www.apartments.com.au/developers/conquest">Conquest</a> acquired the stalled Stage Two development from Crown Group, who completed the first stage across the road prior to their voluntary liquidation.

<img alt="First look: Conquest unveils plans for 736-home Eastlakes Shopping Centre redevelopment" data-entity-type="file" data-entity-uuid="5fca22c5-d1ed-4e2c-8801-03f7df1eafc8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/eastland%20podium.png?VersionId=uomwr41nF8CmLUZRDcu3mHQechlbxucS" />

&nbsp;

Designed by DKO Architecture, the proposal comprises four residential buildings ranging from 14 to 18 storeys above a two-level retail podium. The development would deliver 736 apartments, including 74 affordable homes, 215 Build-to-Rent apartments and 521 market residences. Provision has also been made for dual-key apartments, which could increase the total number of dwellings to 877.

At ground level, the shopping centre has been designed as the suburb's new meeting place, anchored by a full-line Woolworths and complemented by a curated mix of fresh food retailers, cafés, restaurants, health services and everyday convenience shopping. Generous pedestrian links and landscaped public spaces will connect the retail precinct through to Jack Mundey Reserve, creating a more walkable and connected neighbourhood.

Conquest CEO Michael Akkawi said the redevelopment was about far more than replacing a shopping centre.

"Eastlakes has been overlooked for too long, and this is the community’s moment. We are building a shopping centre and homes, a genuine heart for the suburb, and we genuinely want locals to help shape it."

"We enrich communities through the creation of homes, places, and experiences designed for life, built to last, and owner for generations. That starts with listening, so we warmly encourage everyone with a connection to Eastlakes to view the plans and share their thoughts."

<img alt="First look: Conquest unveils plans for 736-home Eastlakes Shopping Centre redevelopment" data-entity-type="file" data-entity-uuid="22f6fb20-54fb-4bd7-8a92-48fafdd00608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/eastland.png?VersionId=cugp7s9hrMHGJJdYzkeAkrFoQgnF4GXf" />

DKO said the design had been shaped by the site's landscape setting and surrounding open space.

"Our vision for the site embraces its unique Bidjigal identity by blending the residential living with generous landscaping and a material palette inspired by the Bidjigal locality, and celebrating the panoramic views to Botany Bay and the wetlands reserves."

"Taking cues from Country, we seek to harmonise built form with the landscape and lightly touch the earth. By reconnecting, retaining and regenerating existing ecology, and weaving in natural elements, we can deepen our connection to Country."

The landscape strategy extends across the podium and rooftops, incorporating communal gardens, children's play areas, lawns, community gardens, family gathering spaces and extensive tree planting. New landscaped links will also strengthen the connection between the precinct and Jack Mundey Reserve, while publicly accessible open spaces have been integrated throughout the development.

The proposal builds on Conquest's broader placemaking strategy for the site. Through an ongoing partnership, local artist Joe Rashbrook has been appointed Urban Art Curator, working alongside young residents to transform the project's site hoardings into a public art gallery that allows the community to engage with the redevelopment before construction is complete.

Conquest has rapidly expanded its development pipeline since acquiring the Eastlakes site, with more than $6 billion worth of mixed-use projects now in planning across Sydney, including Stanmore, Castlecrag and Waterloo.

Conquest CEO Michael Akkawi said the redevelopment was about far more than replacing a shopping centre.

Joel Robinson

First look: ‘Far more than replacing a shopping centre’ as Conquest unveils 736-home Eastlakes redevelopment

Abadeen has lodged a State Significant Development Application (SSDA) for one of Mosman's largest apartment developments in recent years, seeking approval to transform the former Honeysuckle Garden and Midas site on Military Road into a 100-apartment mixed-use development.

The SSDA, lodged with investment partner Phoenix Property Investors, proposes around $230 million worth of new housing on the prominent <a href="https://www.apartments.com.au/new-apartments/494-516-military-road-mosman-nsw-2088">494-516 Military Road</a> site.

The proposal comes as Mosman Council continues to progress its recently endorsed Masterplan, which identifies the precinct for increased housing density while maintaining the suburb's established character.

Designed by DKO Architecture, the development would comprise 100 apartments above ground-floor retail, with a rooftop wellness precinct including a gym, sauna, entertaining areas and landscaped communal spaces.

Rather than pushing to the full 12-storey height identified in Council's Masterplan, the proposal ranges between five and nine storeys, stepping down towards Hale Road. A tenth level would accommodate resident amenities rather than additional apartments.

The project has been designed to appeal to a broad range of buyers, from first home buyers and young professionals through to families and local downsizers looking to remain on the Lower North Shore.

<img alt="Mosman" data-entity-type="file" data-entity-uuid="5dada03f-5b4c-43ba-ba62-2868add31440" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-27%20at%209.57.55%E2%80%AFAM.png?VersionId=7LBy0B.Jo8_iWAFJsClcV7Q3UnXrv49r" />

Abadeen Executive Chairman Justin Brown said the apartments had been designed as genuine long-term homes rather than investor-focused stock.

"The apartments have been designed as genuine long-term homes, with efficient floorplans that maximise usable living areas, generous storage, natural light and strong connections between indoor and outdoor spaces," Brown says."

"We've focused on creating homes for a broad range of buyers, from first home buyers and growing families through to downsizers who want to remain in Mosman."

The rooftop wellness offering forms a key part of the proposal, with residents set to have access to a gym, sauna, outdoor entertaining spaces, communal dining areas, landscaped gardens and a multi-use recreation court overlooking Sydney Harbour.

<img alt="Mosman" data-entity-type="file" data-entity-uuid="d37c2d6b-583a-4a0f-b7a9-9f46b893d2f4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-27%20at%209.58.06%E2%80%AFAM.png?VersionId=FPoa5FCm2RtzjhAh2w5FTWJbV6GHfY8D" />

DKO drew heavily on the site's natural and cultural history, undertaking a Connecting with Country process with local Aboriginal Elders to inform the architectural and landscape design.

Senior Associate Matthew Ritchard said the design sought to create a building that responded to both the site's landscape and its cultural significance.

"The architectural language of the project is a deep expression of Connecting with Country, where the materiality and colour palette serve as a bridge between the site's geological history and its future as a residential sanctuary."

The proposal also retains the site's established blue gum tree as the centrepiece of the communal landscaped gardens, while introducing activated retail fronting Military Road to strengthen the connection between Mosman and Cremorne villages.

If approved, the project would deliver 100 new homes within walking distance of shops, public transport, schools and local amenities, adding to the limited pipeline of new apartments on the Lower North Shore.

<h2>Project Snapshot</h2>

Project: Honeysuckle Garden Redevelopment

Address: 494-516 Military Road, Mosman

Developer: Abadeen and Phoenix Property Investors

Architect: DKO Architecture

Lead Architect: Matthew Ritchard

Value: $230 million

Residences: 100 apartments

Key features:

<ul>
	<li>
	Ground-floor retail
	</li>
	<li>
	Rooftop wellness precinct
	</li>
	<li>
	Gym and sauna
	</li>
	<li>
	Outdoor entertaining and BBQ areas
	</li>
	<li>
	Landscaped communal gardens
	</li>
	<li>
	Multi-use recreation court
	</li>
	<li>
	Retained mature blue gum tree
	</li>
	<li>
	Connecting with Country design process
	</li>
	<li>
	Harbour, CBD and Balmoral views from upper-level apartments
	</li>
</ul>

Abadeen Executive Chairman Justin Brown said the apartments had been designed as genuine long-term homes rather than investor-focused stock

First look: Abadeen plans 100 apartments on former Honeysuckle Garden site in Mosman

The wave of apartment proposals sweeping through Mosman shows no signs of slowing, with another major residential development lodged through the NSW Government's State Significant Development pathway.

Developer First Quadrant Properties, which recently completed Willoughby Grounds and has several projects in planning across the North Shore, has unveiled plans for <a href="https://www.apartments.com.au/new-apartments/cove-on-ourimbah-40-56-ourimbah-road-mosman-nsw-2088">Cove on Ourimbah</a>, a 63-apartment development on Ourimbah Road, adding to the growing pipeline of projects reshaping one of Sydney's most tightly held harbour suburbs.

The proposal would consolidate nine properties at 40-56 Ourimbah Road into a part eight, part nine-storey apartment building, continuing the momentum created by the NSW Government's accelerated planning pathways that have seen several significant developments emerge across Mosman over the past 12 months.

Designed by Doroch Architects, the project would deliver 63 apartments, resident wellness facilities including a gym, pool and sauna, landscaped communal spaces and basement parking, while using recessed upper levels, generous setbacks and extensive planting to reduce the perceived scale of the building.

<img alt="First look: First Quadrant Properties eyes nine-storey Mosman apartment project under State Significant pathway" data-entity-type="file" data-entity-uuid="32ee68e4-141e-4a10-8f83-48e961a5e71e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Ourimbah%20Road%2C%20Mosman%20a.png?VersionId=CUeILFc6APlwXPc.iplElbxHvREKwjig" />

Doroch Architects said the building had been designed to reinforce Mosman's established character.

"The building's aesthetic is grounded in the existing residential character of Ourimbah Road and the broader Mosman context," the architect noted in the planning documents submitted to the NSW Government.

The design adopts a contemporary material palette of natural stone, textured concrete and brown concave metal cladding, complemented by integrated planters and deep balconies. The podium incorporates softened curved concrete forms, while increased setbacks have been provided adjacent to the heritage-listed property at 60 Ourimbah Road to create a more sympathetic transition.

The site sits around 330 metres from Mosman Town Centre, placing it within the NSW Government's Low and Mid-Rise Housing policy area, where increased residential density is being encouraged close to shops, transport and services.

The proposal follows a string of major apartment projects lodged or declared State Significant in Mosman in recent months, including Abadeen's 100-apartment Honeysuckle Garden redevelopment on Military Road and several other developments across Awaba Street, Redan Street and Muston Street from the likes of Time &amp; Place, HELM and Prosker Property.

&nbsp;

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/time-place-to-take-on-mosman-apartment-market">Time &amp; Place to take on Mosman apartment market</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/qld/first-look-abadeen-plans-100-apartments-on-former-honeysuckle-garden-site-in-mosman">First look: Abadeen plans 100 apartments on former Honeysuckle Garden site in Mosman</a>

&nbsp;

First look: Another major apartment proposal signals Mosman's development boom

A new State Significant Development Application (SSDA) could reshape a prominent vacant site in Gosford's CBD, with Ming Tian Real Property proposing a mixed-use precinct that combines affordable housing, retail activation and a new public plaza.

The proposal for 43-45 Beane Street and 2 Keevers Lane would deliver a <a href="https://www.apartments.com.au/new-apartments/43-45-beane-street-gosford-nsw-2250">two-building development</a> comprising a 26-storey residential tower and a five-storey affordable housing building above ground-floor commercial space. A key focus of the project is the delivery of dedicated affordable housing alongside new public domain improvements designed to transform Keevers Lane into a more active urban destination.

Designed by <a href="https://www.apartments.com.au/architects/tony-owen-partners">Tony Owen Partners</a>, the development would provide 130 apartments, including 20 affordable housing dwellings managed by a registered community housing provider for at least 15 years. The market housing component comprises 110 apartments across a mix of one, two and three-bedroom residences, while the affordable housing includes six one-bedroom, 13 two-bedroom and one three-bedroom apartment. The proposal also incorporates 416 sqm of ground-floor retail, three basement levels accommodating 140 car spaces, 42 bicycle spaces, communal open space and extensive landscaping.

<img alt="First look: Ming Tian Real Property plans landmark affordable housing tower for Gosford city centre" data-entity-type="file" data-entity-uuid="9b858791-9060-4ee7-9178-44cb9e640a85" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Beane%20Street%20b_0.png?VersionId=_jbY0mqPEs7.jBZxozR7d6T4u85FoPmb" />

The affordable housing component has been distributed across both buildings, with four apartments located within the main tower and a dedicated five-storey building delivering a further 16 affordable homes. The project also includes 12 adaptable apartments and 24 dwellings designed to Silver Level Liveable Housing Guidelines.

The architectural design draws inspiration from Indigenous storytelling.

"The design is based on the indigenous motif of the Rainbow Serpent," Tony Owen Partners said in the Design Verification Statement.

"The Rainbow Serpent is a traditional totem of coastal eastern Australia. It represents natural forces, creation, change, and rebirth and is often associated with bodies of water. This motif can be seen in the undulation of the balconies rising on the building," Tony Owen Partners said in the Design Verification Statement.

Beyond the residential offering, the proposal seeks to revitalise the surrounding public realm, particularly Keevers Lane.

"The ground floor streetscape includes a commercial and dining precinct which will significantly improve the amenity of the area. This strategy transforms a currently inhospitable laneway into a thriving centre of urban renewal and day and night time activation to compliment the new adjoining UNC facilities," the architects said.

<img alt="First look: Ming Tian Real Property plans landmark affordable housing tower for Gosford city centre" data-entity-type="file" data-entity-uuid="36b0ca6b-af15-424c-81db-9f3049c07b0c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Beane%20Street%20podium.png?VersionId=QCAv7bCitrg3zIGZUHI2z_HR8qVfKbp1" />

The Environmental Impact Statement notes that the project aims to "improve the provision of diverse housing options within Gosford City Centre, enhancing the mixed-use precinct by delivering high quality residential development, whilst concurrently providing a diverse range of housing choices through the provision of affordable housing, which is in growing need within the Gosford City Centre."

The site occupies approximately 2,070 sqm in the Gosford city centre, around 250 metres from Gosford Railway Station and within walking distance of Gosford Hospital, Mann Street's retail precinct and the University of Newcastle's Gosford campus currently under construction. The currently vacant site previously received approval for a lower-scale residential development, with the new proposal leveraging the NSW Government's in-fill affordable housing pathway to increase density while introducing dedicated affordable housing.

First look: Rainbow Serpent inspires bold new Gosford apartment tower

Developer <a href="https://www.apartments.com.au/developers/bottega-property-group">Bottega House</a> has secured council approval for its first Brisbane project - a $270 million luxury residential development on an absolute riverfront site in leafy St Lucia.&nbsp;

The 15-storey project, known as <a href="https://www.apartments.com.au/new-apartments/st-lucia-by-bottega-house-180-macquarie-street-st-lucia-qld-4067">St Lucia by Bottega House</a> , will occupy a prime north-facing site at 178-180 Macquarie Street, directly fronting the Brisbane River in the established inner-west suburb known for its rowing clubs, golf courses and sprawling University of Queensland campus.&nbsp;

St Lucia by Bottega House will feature a suite of amenities including dedicated wellness spaces, a mineral pool and cold plunge. The project has been positioned to attract affluent owner-occupiers seeking high-quality, house-sized apartments.&nbsp;

Bottega House has been set up by co-directors Nick Malloch, Louis Mennes and Craig Marsh.

Malloch said the project drew inspiration from its Brisbane River setting and leafy inner-west surrounds, while responding to the demands of discerning locals looking to transition from freestanding homes into apartment living.&nbsp;

"With an expansive river frontage and lush green surrounds, we knew we had to create something special that reflects the natural beauty of the location while offering residents masterfully crafted homes," said Malloch.&nbsp;

"Our intent was to complement the project's quiet, private setting by introducing residences that offer a calm retreat and sanctuary from the everyday. The result is a harmonious blend of architecture, interiors and amenity that emphasises wellbeing, comfort and beauty without excess."&nbsp;

Malloch added that project consultants had been carefully selected in alignment with Bottega House's commitment to care, quality and attention to detail. The design team includes architects <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a>, interiors practice <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and landscaping by <a href="https://www.apartments.com.au/architects/urbis">Urbis</a>.&nbsp;

Three-bedroom apartments are expected to start around $5 millio. Selling agents Keenan &amp; Byrne said the pricing strategy for the project was anticipated to achieve upwards of $25,500 per square metre.&nbsp;

The project's development approval this week follows the success of Bottega House's inaugural Queensland project - a 22-storey collection of full-floor sky homes at Broadbeach on the Gold Coast which included the sale of a two-storey penthouse at a record price for a beachside residence.&nbsp;

St Lucia by Bottega House is expected to launch to market in November, with construction anticipated to be completed mid 2029.

[smartcode_project_cta:default project_id=151826]

Bottega House to make Brisbane debut with St Lucia riverfront apartment development

Bis Oxford

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EXPERT OBSERVATION
There is no relief for tenants looking to move over the short to medium term or for those facing lease renewals.
Over the last 12 months, Sydney’s metropolitan office vacancy rate has fallen below 5%.
The last time that happened was during the late 1980’s boom.
Moreover, the period of low vacancies has only just begun, with BIS Oxford Economics forecasting a sub-5% vacancy rate for at least three more years.
That is not good news for tenants with a short to medium term lease expiry – they will face much higher rents and limited relocation options.
Conversely, the balance of power in lease negotiations has shifted back towards building owners and will stay there for some time yet.
Sydney’s office vacancies have fallen significantly over the last two years, as moderate net absorption (underpinned by a solid NSW economic and employment growth) was met by below average completions and close to zero net additions to stock.
By the end of 2018, it is estimated the Sydney metropolitan vacancy rate will fall to 4.6%.
Sydney’s problem is on the supply side, not the demand side.
With almost nothing added to stock over the last two years, demand is starting to be constrained by a shortage of available space.
With vacancy rates a primary driver of rents, CBD prime average net stated rents have risen by over 20% since December 2016 with effective rents (taking into account leasing incentives) up by one third.
Indeed, since the post GFC cycle trough in 2009 face rentals have risen by close to 70% and around 125% in effective rent terms.
The bad news for tenants facing upcoming lease expiries is there is no relief from rising rents in sight for at least three years.
The current round of office projects underway – focused on the CBD, North Sydney, Parramatta and Eveleigh – will be easily absorbed by the market, keeping the metropolitan vacancy rate below 5% until at least 2021, with the CBD even tighter.
Low metro-wide vacancies mean there will be limited options available for CBD tenants seeking to move out of the City to avoid rising rents in the medium term.
Rents will be rising strongly in the suburban markets as well.
Building owners’ time has come within the Sydney office market and it looks set to stay that way for some time to come.
LEE WALKER is the responsible for BIS Oxford Economics's Sydney and Perth commercial forecasting studies
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j.ballantyne1990-6AQqhLzZaK

The Sydney office market is facing at least three more years of low vacancies: Lee Walker

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Australia's changing consumer spending patterns, over both time and across age groups, are changing the face of the country's retail sector, says new research. 
BIS Oxford Economics’ Retail Property Market report shows that Australians are buying fewer ‘things’ and, increasingly, consumers are not buying them from traditional shops.
These trends present a formidable challenge to retailers and shopping centre owners and developers, it says. 
Together with the cyclically weak retail environment and it threatens retailer survival and shopping centre income returns, says report author, Senior Project Manager Maria Lee.
“There's another key threat to retail property returns, and that that’s the risk of softening investment yields,” she says.
“The share of household expenditure on clothing and footwear has more than halved since 1984, from 6.5% to 3.1%.
“Not only that, but the dollar amount spent actually fell between the 2009–10 ABS Household Expenditure Survey and the 2015–16 survey.”
The report also points to the inexorable rise of online shopping. The online market share is currently around 8%, growing at over 15% per annum.
Lee points out that more mature online markets, such as the US and some European countries, are still seeing growth rates of around 15% even with much higher market shares than in Australia.
“It’s a real possibility that a growth rate of 15% per annum could be sustained for some time,” says Lee.
“If so, this would result in an online market share of 22% within 10 years.”
BIS Oxford Economics forecasts that shopping centre incomes will see muted growth over coming years in light of the above challenges.
A return to stronger economic conditions should bring with it a pick-up in consumer spending early next decade, but the company expects only modest retail turnover growth on average over the next 10 years.
As a result, shopping centre net income growth is forecast to stay only just ahead of inflation.
“And there are probably more downside than upside risks to that forecast,” cautions Lee.
BIS Oxford Economics expects increases in bond rates over the next few years to pose a key risk to shopping centre yields.
“We’re not forecasting a great degree of softening in investment yields but, even so, we forecast five year IRRs for regional centres of just 5.5%," says Lee.
“That suggests that they are currently overvalued relative to hurdle rates of return.”
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Changing customer behaviour a formidable challenge to retailers: BIS Oxford Economics

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House prices on the Gold Coast and Sunshine Coast have generally moved in tandem with Brisbane.
The same drivers of population growth present in the capital are present in these regions, primarily net interstate migration inflows and, to a lesser extent, overseas migration, according to the latest report from BIS Oxford Economics.
However, both the Gold Coast and Sunshine Coast have experienced significantly stronger price growth than Brisbane since 2012.
The economists noted that, "These markets experienced a larger post-mining boom downturn", this caused a slump in new dwelling construction in these markets creating significant under-supply, with vacancy rates of 1.1 per cent and 1.0 per cent recorded in each of these markets respectively in March quarter 2018.
However, after average median house price growth of 6.3 per cent per annum in the five years to June 2017 in Brisbane, price growth has now slowed to an estimated two per cent in 2017/18 based on economic data.
In contrast on the Sunshine Coast, median house price growth has averaged 5.4 per cent per annum, although the upturn has continued with an estimated seven per cent rise in 2017/18.
"The local economies are also relatively strong, driven by a growing tourism sector, and several large construction projects," noted the report.
"However, a number of projects on the Gold Coast are now complete after a push to have them finished by the Commonwealth Games."
Similarly, the next round of projects on the Sunshine Coast are not as large as recent work, such as the expansion of the Sunshine Coast University Hospital.
The economists suggested that, in addition to these other factors supply has been rising in both markets and this will alleviate some of the price pressures in place.
The strong recent price growth relative to Brisbane will also make it less attractive for Brisbane seachangers to move north or south.
The report forecasts that, these factors are expected to slow price growth to a total six per cent in both the Gold Coast and Sunshine Coast over the three years to June 2021.
For a look at our take on the BIS Oxford Economics report for the national market check out, "Melbourne house prices forecast to tread water through to 2020/21".
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Gold Coast and Sunshine Coast housing market's price growth outstripping Brisbane's: BIS Oxford Economics

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The Townsville market hasn’t recovered since peaking in 2008, with the median house price falling by 13 per cent to June 2017.
Vacancy rates in Townsville remain relatively high, at 3.8 per cent in March quarter 2018, although are well down from a peak of 7.1 per cent eighteen months earlier, according to a report released this week by BIS Oxford Economics.
Reflecting this improvement, it appears that the downturn has stabilised, with the median house price on track to rise by two per cent in 2017/18.
The Cairns market has shown more upside, having not experienced the mining boom/bust of Townsville.
Vacancy rates have remained in the 2–3 per cent range since 2012, with a total 21 per cent growth in the median house price coming through over 2012 to 2017 the report stated.
The economists temper this by noting that, "price growth has slowed in 2017/18 and is on track to be flat according."
"In real terms, Townsville’s estimated median house price at June 2018 is 30 per cent below its December 2017 peak in real terms, suggesting there would be little more downside."
The local unemployment rate has improved, although this appears to be on the back of lower participation rates, rather than higher, meaning that "hidden unemployment" could become problematic.
Population growth is weak and as such, minimal price growth is expected over 2018/19 and 2019/20, before some signs of an upturn emerge by 2020/21 with vacancy rates tightening, and some economic recovery coming through as rising tourist arrivals underpin the upgrade of existing tourism infrastructure the economists suggested.
Cumulative growth of nine per cent is forecast in the three years to June 2021 for Townsville.
Whereas the BIS Oxford economists forecast that the Cairns market will begin running out of steam after steady, albeit moderate, price growth to 2017.
Population growth remains slow and, apart from growth in tourism, there remain few other drivers in the local economy that can help employment growth and push through price rises.
As a result, only modest growth is forecast for Cairns, totaling four per cent over the three years to June 2021.
For a look at our take on the BIS Oxford Economics report for the national market check out, "Melbourne house prices forecast to tread water through to 2020/21".
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Townsville housing market's downturn stabilises: BIS Oxford Economics

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A one per cent decline over the year in Perth’s median house price leaving it at an estimated $520,000 this June, according to a report released this week from BIS Oxford Economics.
This was the lowest since the market peaked in 2013/14.
Between June 2014 and June 2018, Perth’s median house price declined by 13 per cent.
The report notes that , in real terms the Perth median house price is 24 per cent below its peak in March 2007, which highlights the extent of the weakness in the Perth market over the past decade.
“House prices in the Perth market appear to be bottoming out,” said Angie Zigomanis, head of BIS Oxford Economics' residential research unit.
“The rate of price decline has slowed, net overseas migration inflows have returned to growth, while the interstate migration outflow has peaked and is now improving.”
Perth’s vacancy rate peaked at 7.1 per cent in June quarter 2017 and remains high at 5.1 per cent in March quarter 2018, well above the generally accepted balanced market rate of around three per cent.
According to the BIS oxford economists, rental prices have also collapsed with the median three-bedroom house rent, and median two-bedroom unit rent falling by 31 per cent and 29 per cent respectively, from their 2013 peaks.
As well as rising population growth, employment growth looks to have returned in 2017/18 after declines in the prior two years.
Successive years of price declines means that affordability has improved.
Nevertheless the report suggests that despite these positives, any recovery in the Perth market will be a long, slow, grind as the city has to work through a significant oversupply as well as a modest economic recovery.
As a result, minimal growth is forecast in 2018/19 and 2019/20, before some stronger growth emerges toward the end of the forecast period in 2020/21, with total growth in the median house price of ten per cent forecast in the three years to June 2021, or just keeping up with inflation.
A lower rise of five per cent is expected for the median unit price, or a three per cent real decline (factoring inflation).
For a look at our take on the BIS Oxford Economics report for the national market check out, "<a href="/expert-insights/buying/melbourne-house-prices-forecast-to-tread-water-through-to-2020-21-bis">Melbourne house prices forecast to tread water through to 2020/21</a>".
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Perth's decreasing housing prices doggedly slog towards improvement: BIS Oxford Economics

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Many factors have driven this upturn, culminating in growth totaling 35 per cent in a period of 3 years.
Resulting in the estimated median house price of $485,000 at June 2018, according to a report released this week by BIS Oxford Economics.
Population growth has accelerated as net interstate migration outflows became net inflows, with Hobart gaining the lion’s share of this reversal the economists found.
Vacancy rates are tight and were at a of low 1.4 per cent at December 2017.
Economic conditions have also strengthened, with the lower dollar in this period driving strong growth in export sectors such as tourism and agriculture.
“In previous periods of net interstate migration inflows, the population movement has come from the demographic of people over 50 looking to downsize and experience a ‘tree change’,” noted Angie Zigomanis head of BIS Oxford Economics' residential research unit.
“However, the current migration inflows largely comprise younger adults and families with children, suggesting people moving for Hobart’s affordability or expats coming back to raise a family.”
With Hobart still having lowest median house price of the state capitals, this suggests that prices remain affordable, although price growth is unlikely to be as strong as it has been, suggests this report.
This report forecasts that, the median house price in Hobart will rise by five per cent in 2018/19, although it will slow in subsequent years as rising supply begins to take some of the pressure off prices.
Total growth of eight per cent is forecast in the three yeas to June 2021, with a similar rise forecast for units given the overall tightness in the market.
This equates to flat prices in real terms, i.e. factoring inflation.
For a look at our take on the BIS Oxford Economics report for the national market check out, "<a href="/expert-insights/buying/melbourne-house-prices-forecast-to-tread-water-through-to-2020-21-bis">Melbourne house prices forecast to tread water through to 2020/21</a>".
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Hobart housing price growth is unlikely to be as strong as it has been: BIS Oxford Economics

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Canberra’s median house price rose by 27 per cent in the past three years, however it is slowing to an estimated three per cent in 2017/18.
The median house price sits at $700,000 at June 2018.
BIS Oxford Economics released a report this week that estimates that the Canberra market is roughly in balance at June 2018, although a very tight vacancy rate of 0.7 per cent was recorded in March quarter 2018.
This report suggests that part of this tightness is as a result of the removal of around 1,000 asbestos-contaminated houses from the dwelling stock in recent years.
Median house rents have been rising over the past 2–3 years, and unit rental prices are now following.
“In contrast to the low vacancy rate, new dwelling completions have reached a record peak in 2017/18 and this is likely to have been a contributor to the slowdown in house price growth,” said Angie Zigomanis head of BIS Oxford Economics' Residential Research Unit.
“Completions in Canberra also on track to remain elevated and close to record levels in 2018/19.”
Continued high levels of supply are expected to continue to dampen upwards pressure on prices, although with the highest household income of Australia’s capital cities, affordability remains attractive.
The BIS Oxford Economists forecast that this will result in price growth of five per cent in 2018/19, but progressively slowing over the following two years as the recent surge in population reverts to longer term averages.
Canberra’s median house price is forecast to rise by a total 10 per cent in the three years to June 2020, which reflects a rise of three per cent in real terms.
In contrast, the unit sector, where there is more supply coming through, is forecast by this report, to experience price growth of only six per cent, which is actually a two per cent fall factoring for inflation.
For a look at our take on the BIS Oxford Economics report for the national market check out, "<a href="/expert-insights/buying/melbourne-house-prices-forecast-to-tread-water-through-to-2020-21-bis">Melbourne house prices forecast to tread water through to 2020/21</a>".
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Canberra's median house prices stabilises after three year growth spurt: BIS Oxford Economics 

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Darwin’s median house price has now fallen by 19 per cent after peaking at $620,800 in June 2014, according to a report released this week by BIS Oxford Economics.
This has taken the median to an estimated $505,000 at June 2018 and the upturn to 2014 was driven by the ramp up in resource sector investment led by the Icthys LNG project.
However, construction work on this project has been winding down, while lower commodity prices have also seen other mining facilities mothballed.
“The boom in mining investment was accompanied by a boom in new dwelling construction,” said Angie Zigomanis, head of BIS Oxford Economics' Residential Research Unit
“However, dwellings were being completed as mining investment was retreating and population growth contracting, which in turn saw Darwin’s vacancy rate rise to a peak of 7.8 per cent in December quarter 2016.”
House price falls in Darwin are expected to have bottomed out in 2017/18 and although quarterly median house prices have still been patchy, it appears that the downward trend has at least stopped, noted the BIS Oxford Economics economists.
Nevertheless, the oversupply means house prices are forecast to remain flat in 2018/19, before limited growth comes through over the subsequent two years.
The collapse in new dwelling construction is expected to see excess stock steadily absorbed in this period.
The report forecasts that Darwin’s median house price is to rise by a total of only five per cent in the three years to June 2021, which will result in a real house price decline of three per cent over the period.
Unit prices have retreated further than house prices, with the median being 33 per cent off its peak at June 2018 reflecting the high level of unit supply that has been added to the market.
BIS Oxford economists forecasts are that unit price growth over 2018 to 2021 to be slightly lower than for houses at a total four per cent, or a four per cent decline in real terms.
For a look at our take on the BIS Oxford Economics report for the national market check out, "<a href="/expert-insights/buying/melbourne-house-prices-forecast-to-tread-water-through-to-2020-21-bis">Melbourne house prices forecast to tread water through to 2020/21</a>".
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Downward Darwin housing market trend has stopped: BIS Oxford Economics

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The Wollongong residential market has experienced strong growth in recent years, over 20% greater than Newcastle.
Primarily because of its proximity to Sydney and the potential for the population commute to Sydney, where there is a larger variety of higher paying jobs, according to the latest report from BIS Oxford Economics.
Wollongong’s median house price is calculated to have risen by 68 per cent in the four years to June 2017, but growth has slowed down to around two per cent in 2017/18 in line with the slowdown in the Sydney market.
In contrast, median house price growth in Newcastle has lagged, having risen by an estimated 42 per cent in the four years to June 2017, although house price growth in 2017/18 has been stronger, at an estimated five per cent, the report noted.
The lower price growth in the Hunter Region reflects it being largely outside the orbit of Sydney from a commuting perspective, and weaker local employment conditions that have been impacted by falling coal investment.
The economists suggest, that the market appears to be tightening, with vacancy rates in the Hunter Region falling below two per cent since the last quarter of 2017.
"Both regions will start to show slowing price growth over the next three years, in line with the weaker Sydney market", the report forecasts.
"Starting from further behind, more upside is forecast for the Newcastle market, where the median house price is expected to rise by a total six per cent in the three years to June 2021."
In contrast, prices in Wollongong are expected to remain flat, with aggregate growth of one per cent in the three years to June 2021, the economists suggested.
Recent population estimates from the Australian Bureau of Statistics suggests that despite decreasing affordability in Sydney, there hasn’t been significant growth in migration into these regions from Sydney as yet.
However, if movements were to accelerate, there could be some upside to the price forecast for both markets, concluded the report.
For a look at our take on the BIS Oxford Economics report for the national market check out, "Melbourne house prices forecast to tread water through to 2020/21".
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Newcastle and Wollongong's residential market growth to weaken in line with Sydney: BIS Oxford Economics

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Adelaide’s estimated median house price of $510,000 at June 2018 represents a four per cent increase for 2017/18, according to a report released this week from BIS Oxford Economics.
“With relatively soft economic conditions, prices in the Adelaide market appear to be responding to low interest rates,” said Angie Zigomanis head of BIS Oxford Economics' residential research unit.
“Net interstate migration outflows have improved slightly, although remain high, while new dwelling completions remain elevated."
Mr Zigomanis forecasts that “economic conditions in South Australia are to remain subdued in the short term."
"The unemployment rate for the state is above the national level, and a lull is expected as the economy responds to the shutdown of automotive manufacturing ahead of other future employment drivers such as ship building ramping up."
Affordability in Adelaide does not appear to be a constraint on the market and this will support prices.
Growth in net overseas migration inflows into South Australia is unlikely, although net interstate migration outflows are expected to slowly improve as the employment outlook eventually improves, the economists suggested.
Modest growth averaging three per cent per annum is forecast for 2020/21, beginning to accelerate into the final year of this outlook as the economic environment steadily improves.
In contrast, there has been a decline in median unit prices in 2017/18 in response to high levels of unit supply and a further decline is forecast in this report for 2018/19 before unit prices stabilise and improve in subsequent years, although still only display modest growth.
For a look at our take on the BIS Oxford Economics report for the national market check out, "Melbourne house prices forecast to tread water through to 2020/21".
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