Roseville is poised for a wave of new apartment development following the NSW Government's rezoning of land around Roseville Station under its Transport Oriented Development program.

The new planning controls have unlocked significant development potential within walking distance of the station, with a number of sites expected to be amalgamated and redeveloped in the coming years as developers seek to take advantage of the increased density allowances.

One of the more restrained developments in the precinct, and set among the first to be delivered having commenced well before the recent changes, is Hyecorp's Juliet. The boutique apartment project is already well under construction and remains on track to welcome residents by the end of the year, offering a markedly different proposition to many of the larger-scale developments now likely to emerge across the suburb.

[smartcode_project:default project_id=7395 project_image_fid=278194]

<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet</a> will comprise just&nbsp;34 one-, two-, and three-bedroom apartments opposite Roseville Station. For Hyecorp, which has delivered projects across Sydney's Lower North Shore for more than three decades, Roseville presented a rare opportunity to address a growing gap in the market.

"<a href="https://www.apartments.com.au/developments/roseville-nsw-2069">Roseville</a> has long been one of the North Shore's most tightly held and desirable suburbs, offering a unique combination of village charm, established greenery, excellent transport connections, and proximity to some of Sydney's best schools and lifestyle amenities," Hyecorp said.

"We recognised a growing demand from local homeowners seeking to downsize without leaving the community they have built their lives around. The location presented a rare opportunity to create homes that cater specifically to that buyer profile."

[smartcode_project:default project_id=7395 project_image_fid=278196]

The six-level development has been designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a> as a collection of residences that feel more like homes than apartments. The brief centred generous floorplans, abundant natural light, quality finishes, and strong connections to outdoor space.

PBD Architects drew inspiration from Roseville's established garden suburb character, creating a building that sits comfortably within its surroundings rather than dominating them. The architecture incorporates natural materials, soft forms, layered landscaping, expansive balconies, and generous setbacks to strengthen the connection between residents and the suburb's leafy environment.

"The focus was on designing spacious, house-like residences for discerning owner-occupiers and downsizers who wanted to remain on the North Shore without compromising on comfort, privacy, or design," PBD said.&nbsp;

"Every apartment was to feel considered, timeless, and highly functional."

[smartcode_project:default project_id=7395 project_image_fid=278195]

Inside, residences feature engineered timber flooring, stone kitchen benchtops and splashbacks, integrated Fisher &amp; Paykel appliances, ducted air conditioning, and large outdoor entertaining areas designed to take advantage of district and treetop views.

Residents will also have access to a rooftop barbecue and lounge area, alongside practical amenities including parcel lockers, EV charging capability, bicycle storage, a dog wash bay, and a basement car wash facility.

The majority of purchasers so far have been local owner-occupiers from Roseville, Lindfield, Chatswood, Killara, and the broader Upper North Shore, many of whom are transitioning from larger family homes.

"Buyers are looking for spacious, house-like apartments that allow them to downsize without feeling like they are sacrificing comfort or functionality," Hyecorp noted.

"They value large kitchens, generous living areas, ample storage, quality finishes, secure parking, lift access, and low-maintenance living."

[smartcode_project:default project_id=7395 project_image_fid=278204]

Juliet sits directly opposite Roseville Train Station and within walking distance of Roseville Village, while Chatswood's retail and dining precinct is only minutes away. The development is also surrounded by some of Sydney's most established schools, including Roseville College, Ravenswood, Pymble Ladies' College, and Knox Grammar, as well as nearby parklands and golf courses.

Juliet is currently more than 75 per cent sold ahead of its anticipated completion in late 2026.

[smartcode_project_cta:default project_id=7395]

Joel Robinson

Juliet to sit quietly amid Roseville apartment boom

Sherpa Property Group has unveiled the third instalment of its Flourish series, securing full approval for the two-tower, $500 million Flourish Soleira development in Palm Beach.

<a href="https://www.apartments.com.au/new-apartments/flourish-soleira-1150-1154-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> will rise from a prominent site in the commercial heart of Palm Beach, the long-time home of Cash Converters and a range of local retailers.

The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.

[smartcode_project:default project_id=150017 project_image_fid=370959]

“We’re very committed to not only providing affordable residential offerings that are much needed in Palm Beach, but also delivering a vibrant new commercial heart that complements the extraordinary growth of the southern Gold Coast,” Sherpa Property Group founder Christie Leet said.

The development will sit under Sherpa's Flourish brand, which is aimed at providing a pathway into the beachside suburb for locals, first-home buyers and downsizers. In a move designed to assist first-home buyers entering the market, Sherpa has reserved all one and two-bedroom, one-bathroom apartments exclusively for eligible first-home buyers.

[smartcode_project:default project_id=150017 project_image_fid=370964]

“Our vision through Flourish is to create a vibrant retail and lifestyle focal point within the Palm Beach centre zone, delivering thriving communities underpinned by lifestyle-rich locations,” Leet said.

“So far, Flourish has been an incredible success, and we hope to carry this momentum as we progress the next two Flourish projects in Palm Beach.”

[smartcode_project:default project_id=150017 project_image_fid=371430]

Located across 1150-1164 Gold Coast Highway and 3 Sixth Avenue, the development will comprise two towers. The northern tower will deliver 154 apartments, while the southern tower will add a further 132 residences, helping address ongoing demand for new apartments in the tightly held coastal suburb.

Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.

The two towers will be connected by a skybridge, with residents gaining access to a rooftop recreation deck featuring a full-width swimming pool, hot and cold plunge pools, wellness spaces, a gymnasium, private dining facilities, massage treatment rooms, barbecue areas, a basketball court, golf simulator, indoor and outdoor dining spaces, sun lounges and extensive landscaping.

LPS Group is expected to start construction later this year.

Sherpa is already well advanced on construction of its debut Flourish project, Flourish Amargo, located just around the corner from Soleira. Meanwhile, Flourish Oasis, positioned opposite Amargo, recently commenced construction and has nearly sold out its collection of 47 apartments.

[smartcode_project_cta:default project_id=150017]

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

Are mortgage holders set to get a reprieve from the RBA in 2026?

Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.

NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.

“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.

"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.

Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.

“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”

Dr Auld said inflation risks and labour market outcomes would be important to watch.

“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”

She said tighter financial conditions are expected to weigh on housing and activity.

“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”

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

A local downsizer has splashed $6.5 million on a penthouse in Perifa's Alex &amp; Willow development in Crows Nest. 
&nbsp; 
The purchaser sold their long-held family home in the area before embarking on a six-month search for the right apartment. After inspecting a range of options across the Lower North Shore, the buyer returned to <a href="https://www.apartments.com.au/new-apartments/alex-willow-crows-nest-82-90-alexander-street-crows-nest-nsw-2065">Alex &amp; Willow</a>. 
&nbsp; 
The buyer profile reflects the project’s broader purchaser mix. <a>Alex &amp; Willow</a> has attracted predominantly local downsizers looking to transition from larger homes without compromising on space or quality, alongside a smaller cohort of upsizers and investors drawn to the project’s location and design credentials. 
&nbsp; 
The milestone sale comes as the project, developed by&nbsp;<a href="https://www.apartments.com.au/developers/perifa">Perifa</a>&nbsp;and delivered by <a href="https://www.apartments.com.au/builders/versatile-made-construction">Versatile Construction</a>, both part of Versatile Group, reaches 60 per cent sold.

[smartcode_project:default project_id=6680 project_image_fid=371325] 
&nbsp; 
Eddie Mansour, Managing Partner of <a href="https://www.apartments.com.au/project-marketer/ray-white-projects">Ray White Projects</a>, said the result demonstrates not only a headline price but also depth of demand. 
&nbsp; 
“This is an exceptional outcome and a clear reflection of sustained buyer demand for premium, well-located downsizer product,” Mansour said.

“We’re seeing a consistent pattern of local homeowners selling family residences and reinvesting into high-quality apartments that allow them to remain within their community. Alex &amp; Willow has resonated strongly with this group because it offers genuine scale, thoughtful design and immediate proximity to the village.” 
&nbsp; 
The sale reflects a broader and consistent trend of local downsizers actively seeking high-quality, low-maintenance residences close to established village centres. Agents report that demand for this product type has remained resilient, particularly where developments offer a rare combination of scale, design quality and walkable amenity. 
&nbsp;&nbsp; 
Fabrizio Perilli, Managing Director of Perifa and Versatile Group, said the sale marks a defining moment for the project. 
&nbsp; 
“The penthouse sale is a strong endorsement of the quality we have delivered, alongside our partners, and the clear demand from local downsizers for premium, boutique residences in this location,” Perilli said.&nbsp; 
&nbsp; 
“Most importantly, we’re proud to see the Alex &amp; Willow community beginning to take shape. As we move closer to completion, we’re looking forward to welcoming residents and seeing the project come to life.”&nbsp;

[smartcode_project:default project_id=6680 project_image_fid=338516] 
&nbsp; 
Designed by <a href="https://www.apartments.com.au/architects/nettletontribe">Nettleton Tribe</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/richards-stanisich">Richards Stanisich</a>, Alex &amp; Willow is a boutique collection of generously sized two- and three-bedroom residences in the heart of Crows Nest village.&nbsp;

Completion is slated for early 2027.

[smartcode_project_cta:default project_id=6680]

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

Fresh from launching the first stage of its Wollongong precinct, <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place</a>, builder-developer Urban Property Group has unveiled plans for the next phase of the masterplanned community.

Now on public exhibition through the NSW Government's Housing Delivery Authority pathway is a State Significant Development Application for a further 657 homes on the prominent gateway site opposite Beaton Park.

The proposal comprises three buildings, including two build-to-sell towers rising 25 and 30 storeys, delivering 391 apartments, alongside a 12-storey co-living building with 266 residences, making it one of the largest co-living proposals currently planned in regional New South Wales.

Of the apartments proposed in the build-to-sell towers, the majority, 310, are two-bedroom dwellings. The balance comprises 44 one-bedroom apartments and 37 three-bedroom residences. Apartment sizes range from around 50 sqm for one-bedroom homes to approximately 90 sqm for three-bedroom apartments.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="19347059-1612-41a0-9c74-b86a657237f8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%2010.02.18%E2%80%AFAM.png?VersionId=sWXnaCcA.cIC6N8YT1dg5pJ2e1V3Z6z7" />

The submission says the proposal has evolved significantly from its original Housing Delivery Authority application following extensive consultation with the State Design Review Panel and Wollongong City Council.

The final scheme has been designed to align with the emerging vision for the Flinders Street Precinct, an area identified by Council as a future high-density mixed-use neighbourhood capable of accommodating substantial housing growth close to transport, employment and community infrastructure.

According to the design report prepared by COX Architecture, the development aims to "deliver a built outcome consistent with the future character of the Wollongong CBD while responding to the site's unique constraints and opportunities."

"Our vision for the next phase of the site evolution in Wollongong is grounded in three design pillars that guide the design response: place, natural environment and celebration," COX said.

"Inspired by its surroundings and grounded in the stories of place on Wodi Wodi Country, the design proposal acknowledges the established character of its setting while creating a unique and timeless identity that sits harmoniously within it.

"The design proposal responds to its specific site conditions, acknowledging the vegetation, climate, wind conditions and solar access of the site."

The architecture responds directly to the site's position between Wollongong's urban core and its natural landscape setting.

COX identified views towards Mount Keira and the Illawarra Escarpment as defining features of the site, while the upper levels of the towers will also capture expansive views across the city and out to the Pacific Ocean.

The design team has positioned the tallest buildings closer to the rail corridor, where overshadowing impacts can be better managed while establishing a landmark built form on the northern approach into the city.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="79580d5b-500c-4ebf-9629-797146a4a694" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%209.51.59%E2%80%AFAM.png?VersionId=WbTB1EKSG.KDfsfz0F3wp1QVa2oCMGR5" />

Urban Property Group secured the 11,000 sqm Smith Street site in 2022 and has since progressed plans for the broader Keira Place precinct.

Construction recently commenced on the first stage of Keira Place, which will deliver 150 apartments across two residential buildings, including 27 affordable housing apartments and 18 specialist disability accommodation dwellings, alongside activated ground-floor retail and commercial space.

Urban Co-CEO Patrick Elias said the commencement of construction marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/groundbreaking-marks-start-of-construction-at-keira-place-in-wollongong-cbd">Groundbreaking marks start of construction at Keira Place in Wollongong CBD</a>

&nbsp;

&nbsp;

&nbsp;

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

Capital Cities

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Increases in housing stock in Sydney and Perth have failed to match population growth in these capitals, according to research from the Australian Housing and Urban Research Institute (AHURI) and the Bankwest Curtin Economics Centre (BCEC).
The report, titled Housing Supply Responsiveness in Australia: Distribution, Drivers and Institutional Settings, takes a look at how well supply is keeping up with demand across Australia’s regions and capital cities. 
Lead researcher and deputy director of BCEC, Professor Rachel Ong, said while national growth in Australia’s housing stock has kept pace with population growth over the last ten years, the picture is very different for some of our major capitals. 
“Increases in Perth and Sydney’s housing stock over the past ten years have been insufficient to match the increase in their growing populations, with supply-side barriers more acute in Sydney than Perth,” Professor Ong said. 
The issue of housing affordability is more nuanced than previously thought, with most new housing concentrated in mid-to-high price market segments, it says.
“We’d normally expect to see a trickle-down effect, where building higher-value homes leads to the opening up of lower-value homes for those on lower incomes. Our research indicates this isn’t the case, meaning an increase in housing supply is not leading to better housing affordability,” Professor Ong said. 
<a href="https://www.propertyobserver.com.au/images/2017/05/18/Link.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/18/Link.png" alt="">
 
In its executive summary, the research said that a one percent increase in the level of real housing prices is estimated to produce a 4.7 percent (3.9 percent) increase in new house (unit) supply. These house price gains translate into a very small increase in the housing stock which will do little to keep up with demand pressures.  
 
“This indicates that a broader policy response is needed to address the structural impediments that weaken the 'trickle down' impact on new housing supply. There is a real need for targeted government intervention, including measures that improve financial incentives for developers to build at the lower end of the housing market.” 
<a href="https://www.propertyobserver.com.au/images/2017/05/18/BuildingApprovals.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/18/BuildingApprovals.png" alt="">
 
<a href="https://www.propertyobserver.com.au/images/2017/05/18/Units.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/18/Units.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/05/18/All.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/18/All.png" alt="">
 
A positive finding from the report is that the supply of units is more likely to be concentrated in job-rich areas, with more than 50 percent of new units built in the highest job density areas in Australia. 
 
“A likely result of that will be shorter commuting time to work, which offers an important boost to productivity,” Professor Ong said.
 
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jonathanchancellor-7SQnKwU6yx

Housing supply not keeping up with population growth in some capital cities, says study

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The average median rent across the country remained marginally stable at $404 for Q3 with only a 0.3 percent increase from Quarter 2 (Q2), according to Rent.com.au.
Only one of the top Australian capitals saw an increase in median rent; Adelaide recorded a 3 percent increase in its median rent from $330 in Q2 to $340 in Q3.
Conversely, Sydney recorded a decrease; the New South Wales capital saw rents drop 1.9 percent from Q2 to Q3, with median rents now sitting at $520.
Sydney still is the most expensive Australian city with affordability per room sitting at $248/pw whilst Perth is the most affordable capital city for renters at a median of $130/pw
By looking at dwelling type, Sydney continued to be skewed towards apartments comprising 58.6 percent, while Perth’s property makeup was 73.8 percent houses.
Looking at Rent.com.au’s Q3 search data, which is indicative of suburb desirability, Melbourne CBD was the highest searched suburb, followed by Adelaide, Perth and Sydney CBD. This indicates Australia’s inner CBD areas are hot across all major capitals.
<a href="/images/2016/10/20/Median%20rent.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/20/Median%20rent.jpg" alt="">
On a regional level, both Queensland and Western Australia saw an increase in their median rent across the quarter to $340 and $350, accordingly. Median rents remained healthy across the rest of the country, with no change in prices for NSW ($350), SA ($250) and Victoria ($270).
Renters could find the cheapest rentals in SA’s regional areas in Q3, with a median rent of $250 per week.
NEW SOUTH WALES
Median rent:
o Sydney, which was the most expensive city for renters in September 2016 with a median weekly rent of $542, also recorded a decrease in the median rent, quarter to quarter.
o Sydney is still the most expensive city for renters, with asking median rents at $520 in Q3, despite the $10 decrease quarter-to-quarter.
o Properties in New South Wales (NSW) regional areas showed the median rent remained consistent between Q2 and Q3 at $350 per week.
Affordability:
o The median price per room in Sydney in Q3 was $248.
o The top 5 most affordable suburbs were: Carramar ($300), Appin ($315), Blackett ($320), Emerton ($320) and Cabramatta ($330), while the top 5 most expensive suburbs in NSW in Q3 were: Seaforth ($1,200), South Coogee ($1,200), Castlecrag ($1,195), Barangaroo ($1,025) and Caringbah South ($1,025).
QUEENSLAND
Median rent:
o Queensland’s regional areas saw the second highest increase in median rents, a $10 increase from $330 in Q2 to $340 in Q3.
o QLD’s capital, Brisbane, recorded an average median rent of $400 in Q3, consistent with the median rent in Q2. o Brisbane metro’s median rent was just $6.25 less than the national average.
Affordability:
o The median price per room in Brisbane in Q3 was $150.
o The top 5 most affordable suburbs were: Russell Island ($245), Macleay Island ($285), Woodridge ($290), Logan Central ($300) and Caboolture South ($300), while the top 5 most expensive suburbs in QLD in Q3 were: Newport ($650), Chapel Hill ($650), Reedy Creek ($590), Burleigh Waters ($585) and Brisbane CBD ($580).
VICTORIA
Median rent:
o Properties in Victoria (VIC) regional areas showed the median rent remained consistent between Q2 and Q3 at $270 per week.
o Melbourne metro rentals saw no change in median rent from Q3 to Q2, sitting at $380.
o Melbourne’s property market makeup in Q3 was 43.4 per cent apartments and 56.5 per cent houses.
Affordability:
o The median price per room in Melbourne in Q3 was $163.
o The top five most affordable suburbs were: Corio ($235), Norlane ($245), Ballan ($265), St Leonards ($270) and Frankston North ($280), while the top 5 most expensive suburbs in VIC in Q3 were: Albert Park ($700), Black Rock ($650), Clifton Hill ($630), Brighton East ($608) and North Melbourne ($590).
WESTERN AUSTRALIA
Median rent:
o Western Australia’s (WA) regional areas saw a small increase of 1.45 per cent between the quarters, increasing from $345 to $350.
o Perth’s property market makeup in Q3 was 73.8 per cent houses, the highest number across the country. o Perth metro rentals saw no change in median rent from Q3 to Q2, sitting at $380.
Affordability:
o The median price per room in Perth in Q3 was $130.
o The top five cheapest suburbs were: Safety Bay ($280), Wembley ($280), Girrawheen ($283), Armadale ($288) and Osborne Park ($290), while the top 5 most expensive suburbs in WA in Q3 were: Mount Claremont ($880), City Beach ($875), Gwelup ($650), North Fremantle ($645) and Stirling ($638).
SOUTH AUSTRALIA
Median rent:
o Adelaide median rents rose 3.03 per cent from $330 in Q2 to $340 in Q3. Apartments and houses were the cheapest to rent in SA for the Q3 period. The median rent for apartments was $190 per week, while houses would set a renter back $255 per week.
o Properties in South Australia (SA) regional areas showed the median rent remained consistent between Q2 and Q3 at $250 per week.
o Adelaide showed it had the lowest percentage makeup of apartments in Q3 – only 25 per cent, with the remaining 75 per cent houses. Adelaide also recorded the highest percentage of house listings across the country.
o Renters could find the cheapest regional rentals in SA during Q3, with a median rent of $250 per week.
Affordability:
o The median price per room in Sydney in Q3 was $125.
o The top five most affordable suburbs were: Elizabeth Vale ($206), Elizabeth Grove ($225), Elizabeth South ($240), Devon Park ($243) and Elizabeth North ($255), while the top 5 most expensive suburbs in SA in Q3 were: Burnside ($583), West Lakes ($463), Eastwood ($450), Adelaide CBD ($450) and Kent Town ($450).
NORTHERN TERRITORY
Median rent:
o Darwin apartments and houses experienced an overall 6.8 per cent rise in median rent to $470 in Q3 from $440 in Q2 o The Northern Territory (NT) saw the largest increase in rent overall in regional areas, rising 7.1 per cent in Q3 to $450 per week, from $420 (Q2).
o The most expensive apartments in regional Australia could be found in the NT for $440 per week.
Affordability:
o The median price per room in Darwin in Q3 was $175.
AUSTRALIAN CAPITAL TERRITORY
Median rent:
o Median rents in Canberra dropped 4.4 per cent from $450 in Q2 to $430 in Q3.
o Properties in Australian Capital Territory’s (ACT) regional areas showed the median rent remained consistent between Q2 and Q3 at $450.
o The ACT was in line with the NT as the two most expensive states to find rentals in Q3 at a median rent of $450 per week.
Affordability:
o The median price per room in Canberra in Q3 was $183.
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j.ballantyne1990-6AQqhLzZaK

Average median rent remains at $404 a week: Rent.com.au

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<img src="https://counter.theconversation.edu.au/content/57114/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
The new assistant minister for cities and digital transformation, Angus Taylor, spoke last week of his enthusiasm for a “new vehicle” for creating partnerships between all three levels of government to drive the sustainable growth of our cities.
This “tried and tested” vehicle is based on the UK government’s City Deals model, which has been running in England since 2012.
In a nutshell, this model encourages city councils or groupings of councils to work together more effectively in identifying local economic development opportunities. They then strike a deal with the central government to secure the funding necessary to realise these opportunities.
Part of the UK government’s so-called “localism agenda”, this approach was designed to give more power and freedom to localities so they could do what they thought best to achieve growth in their area.
This approach has been heavily spruiked in Australia by KPMG and by the Property Council of Australia to Taylor and his ministerial predecessor, Jamie Briggs. The Property Council’s Ken Morrison and KPMG’s Paul Low helpfully set out in their joint pamphlet nine reasons why this approach provides a model for Australian urban policy.
How do the City Deals stack up?
So let’s look at each of these reasons. How do they stand up to scrutiny? That includes the scrutiny of the UK National Audit Office (NAO), which in July 2015 published a progress review of the first wave of English City Deals.
<ol>
<li>It’s a contract – the deal is a deal! In Australia the deals will be more complicated if the partners have to come from each of the three levels of government. And, as we know, federal and state governments have been known to tear up deals struck by their predecessors.</li>
<li>The focus is on productivity and growth. The NAO review found that deal partners can struggle to agree on measures of growth and productivity. The Treasury and the Greater Manchester partnership took two years to agree the terms of their “earn back” deal.</li>
<li>They encourage local leadership and good governance. While it is a sensible move for some local councils to come together in combined authorities, some of these now look remarkably similar to the English Metropolitan Country Councils abolished in 1986 by a previous Conservative government. Creating a more efficient profile of local governments in Australia is a challenge many state and territory governments shy away from.</li>
<li>They use smarter tools for making infrastructure investment decisions. There is certainly scope for making infrastructure decisions on the basis of more comprehensive and rigorous criteria. It is somewhat incongruous, though, to prosecute a localism agenda while at the same time insisting on assessment by a central unit located within the Treasury.</li>
<li>They unlock innovative financing. The NAO review found that ministers often quickly published high-level ambitions, sometimes before departmental officials had agreed to specific funding packages. Haven’t we learnt to be cautious of policy rhetoric outstripping careful implementation planning?</li>
<li>They help join up economic, social and sustainability goals. While the goals might be joined up – an excellent ambition – it has proved extremely difficult to set up evaluation frameworks that can demonstrate with any rigour what the long-term impacts are and what would have happened without the deals.</li>
<li>They promote powerful political leadership. Directly elected mayors are already common in some parts of Australia and local councils are typically much smaller than in the UK. Whether a formal partnership of local councils in Australia would find it easy to allow one mayor to be first among equals is a moot point.</li>
<li>They promote financial literacy skills at the local level. City Deals did not provide any extra funding to build local management capacity. Local partners were expected to pool their resources to achieve this. The NAO concluded that this approach was not sustainable in the context of continuing reductions in central funding to local government.</li>
<li>They rely less on inefficient taxes. Without specifying what these inefficient taxes might be, we can safely assume this approach won’t involve any reform of negative gearing or capital gains tax on property holdings.</li>
</ol>
New titles, same old song
City Deals have been sold in the UK as a significantly new approach to urban policy, but they look remarkably similar to measures that have been promoted over the last 40 years.
Every UK urban policy initiative introduced since the mid-1970s has spoken of the importance of partnerships, cross-departmental co-ordination, multi-sectoral intervention and local leadership. While the titles of these initiatives may have changed, the song has remained the same.
And here lies the biggest challenge. We know that:
<ul>
<li>the problems are inter-related and the all levels of government need to work productively together and with other sectors;</li>
<li>departmental silos within government get in the way of strategic planning; and</li>
<li>scarce public resources need to be invested wisely.</li>
</ul>
And we know that to overcome these problems we need a much greater degree of policy stability and long-term, bipartisan commitment. What we do not need is to jump on yet another urban policy bandwagon from overseas – one that is already being tinkered with in its country of origin.
 
Paul Burton is professor of Urban Management and Planning &amp; Director, Urban Research Program, Griffith University and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/paul-burton-5155" target="_blank">here</a>.
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City Deals: nine reasons this imported model of urban development demands due diligence

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This week there were 2,103 capital city auctions held and the preliminary clearance rate was 76.3 per cent across 1,704 results.
This week’s clearance rate represents a small fall from last week (76.9 per cent) and auction volumes are lower (2,512). Last year, the final auction clearance rate was 70.8 per cent, indicating that conditions across the auction market still remain stronger than at the same time last year; however the gap between the clearance rate is no longer as large as we saw earlier in the year. At the same time last year, 1,569 auctions were held, significantly lower than the number held this week.
<a href="/images/2015/08/17/20150817-Combined-capitals.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/08/17/20150817-Combined-capitals.jpg" alt="" width="779" height="588">
Across Melbourne, 902 auctions were held this week, with a preliminary clearance rate of 76.5 per cent. This week’s clearance rate for Melbourne is lower than last (78.5 per cent), but higher than one year ago (73.3 per cent). Similarly, the number of auctions is lower than last week (1,085) and higher than a year ago (727). This week, there was only one Melbourne sub-region where the clearance rate was above 80 per cent. Outer East Melbourne saw 86.4 per cent of the 59 reported results sell. Following on from this, the second highest clearance rate for the week was across South East Melbourne at 78.5 per cent.
<a href="/images/2015/08/17/20150817-Melbourne.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/08/17/20150817-Melbourne.jpg" alt="" width="748" height="506">
 
There were 907 Sydney auctions held this week and across the 702 reported results, 80.3 per cent were successful, pushing the cities clearance rate back above the 80 per cent mark for the first time in 5 weeks, so it will be interesting to see if the final results remain this high. Over the previous week, Sydney’s clearance rate was 78.3 per cent and 76.2 per cent last year. This week’s preliminary clearance rate for the city is 4.1 percentage points higher than one year ago, a much less significant difference than earlier this year when the gap between this year and last year’s clearance rate was consistently around the 10-15 per cent mark. So far, all of the 13 results reported to CoreLogic RP Data for the Outer South West region were sold; however there are still 9 results yet to be captured. The Inner West (86.6 per cent), City and Inner South (85.9 per cent) and North Sydney and Hornsby regions (85.1 per cent) were all strong contributors to Sydney’s strong preliminary result this week.
<a href="/images/2015/08/17/20150817-Sydney.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/08/17/20150817-Sydney.jpg" alt="" width="746" height="512">
 
This week, Brisbane’s preliminary clearance rate was 60.2 per cent across 93 reported results. There were 130 homes taken to auction across the city this week, compared to 147 last week and 98 at the same time last year. Last week, Brisbane’s clearance rate was 61.1 per cent, while one year ago exactly half of all the reported auctions were sold. So far this week, 23 Gold Coast auction results have been reported, with 15 sales, representing a success rate of 65.2 per cent.
<a href="/images/2015/08/17/20150817-Brisbane.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/08/17/20150817-Brisbane.jpg" alt="" width="760" height="513">
 
Adelaide’s preliminary clearance rate is 71.2 per cent this week, falling from 77.4 per cent last week (the strongest result for the city since early April) and higher than one year ago, when 65.6 per cent of auctions recorded a sale.
<a href="/images/2015/08/17/20150817-Adelaide.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/08/17/20150817-Adelaide.jpg" alt="" width="747" height="510">
 
The clearance rate for Perth was just 23.1 per cent this week based on preliminary results. Last week 50.0 per cent of Perth auctions were successful, while one year ago the cities clearance rate was 40 per cent.
There were 50 Canberra homes taken to auction this week, with 77.4 per cent selling. Over the previous week, a 74.1 per cent clearance rate was recorded and one year ago 51.2 per cent of reported results were successful.
Across Tasmania 5 auction results have been reported this week, with 3 sales.
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Combined capital city clearance rate remains steady: CoreLogic RP Data's Shana Miller

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More than 2,000 auctions will be held nationwide this week with 1,954 across capital cities, according to CoreLogic RP Data.
1,000 auctions will be held across New South Wales and 883 in Victoria. 291 auctions are slated for Queensland.
<a href="/images/2015/08/11/Screen%20Shot%202015-08-11%20at%208.49.55%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/08/11/Screen%20Shot%202015-08-11%20at%208.49.55%20AM.png" alt="">
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