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

Credit Crunch

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<div>There were nervous onlookers aplenty as APRA Chairman Wayne Byres prepared to speak in Sydney last week on prudential lending standards and sound lending practices.</div>
<div> </div>
<div>They needn't have been quite so fearful, in the event, as Byres reassured markets that while heightened scrutiny had uncovered some displeasing practices, most of the heavy lifting has already been done with regards to tighter lending standards.</div>
<div> </div>
<div>For subscribers to our market reports, a number of familiar themes raised: tightening standards have been applied incrementally over a period of several years (rather than overnight as often assumed), a new focus on comprehensive credit reporting to better capture pre-existing debt commitments of borrowers, and some very useful analysis of lower loan-to-value ratios and the decline of interest-only loans. </div>
<div> </div>
<div>While much has been made of a potential 'credit crunch' - mainly by interests hoping to see a credit crunch, it must be said - Byres reiterated how in aggregate annual credit growth has continued to track at 'very healthy' levels, especially for owner-occupiers at about 8 per cent. Of course, there are many unknowns about how this will all play out from here. Some parts of the housing market will fare well where demand from homebuyers is high, and others will struggle where the opposite holds true. Caveat emptor.
</div>
<div> </div>
<div>Computer says no credit crunch</div>
<div> </div>
<div>As Byres was busy adjusting his tie pre-speech in Sydney, financial markets were digesting the latest housing finance figures for the month of May.</div>
<div> </div>
<div>Supporting what Byres would go on to say in his speech, there was a seasonally adjusted increase in the number of mortgages written across all loan categories, defying market expectations, and a corresponding increase in the total value of lending.</div>
<div> </div>
<div>The 'trend' figures are still shaping lower, but at $31.9 billion the seasonally adjusted housing finance figures were pointing to anything but a credit crunch, especially for the homebuyer cohort.</div>
 
<div class="separator"><img src="https://4.bp.blogspot.com/-9qcKV8e6VMk/W0WgxdkJlzI/AAAAAAAArAU/_QoKjOjlLjACVEwN5shP6yjjT1cHkehbgCLcBGAs/s640/HF1.jpg" width="640" height="364" data-original-height="785" data-original-width="1378"></div>
<div class="separator"> </div>
<div>The average loan size for both first homebuyers ($344,600) and non-first homebuyers ($412,000) also hit a record high in May - both in monthly and rolling annual terms - so it appears that those borrowers able to commit to a loan have not seen borrowing capacity trimmed as much as feared, at least in aggregate. </div>
<div> </div>
<div class="separator"><img src="https://1.bp.blogspot.com/-NeN8sCx2QBU/W0WkChZvp7I/AAAAAAAArAo/b4bh7Uixy3olAUp0eP05tBZDUfIqmftmQCLcBGAs/s640/HF2.jpg" width="640" height="368" data-original-height="802" data-original-width="1388"></div>
 Where to from here? 
<div>Clearly no credit crunch in these figures, then, but my sense is that everyone would feel a bit happier with the world if the household debt to disposable income ratio was seen to be no longer rising from its present level of 1.9x. </div>
<div> </div>
<div>APRA has played its part in tightening lending standards for investors, rapidly reducing the stock and flow of interest-only loans (meaning more Aussies paying are now down their debt), and ensuring that new borrowers are stress-tested with what are very significant mortgage rate buffers. </div>
<div> </div>
<div>It's interesting to consider momentarily how so much market commentary has become morbidly fixated on a bad news narrative, almost wilfully overlooking a string of upbeat data over recent months.</div>
<div> </div>
<div>Westpac reported this morning that its consumer confidence index had surged to the highest level since all the way back in 2013, mirroring Aig's index showing the services sector expanding at the fastest pace on record, and jobs vacancies firing to their highest ever level. So much for it all being doom and gloom!</div>
<div> </div>
<div>Meanwhile the unemployment rate is easing back towards the lowest level in years, exports are tracking at record highs, and the rolling annual Budget deficit is in the best nick in a decade.</div>
<div> </div>
<div>All sanguine observers are quite clear on the missing piece of the puzzle, though: wages growth!</div>
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pwargent-M4siyDbqQY

Lenders gonna lend: Pete Wargent

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Imminent restrictions on lending to heavily indebted borrowers will accelerate a squeeze on borrowing, according to UBS analysts.
UBS has repeated its warning of a potential credit crunch in the Australian economy where house prices would likely fall over a prolonged period across a few years.
This is because the price of money [via record low interest rates] becomes less relevant compared with the supply of money [credit availability] or demand for money — that is through employment, income, population," UBS economist George Tharenou said.
This week he noted about 30% of outstanding mortgage debt was held by borrowers with debts more than six times their income, which meant the flow of total lending going to borrowers with debt-to-income levels of more than six times would previously have been greater than 30% of lending.
Westpac advised recently that the share of loans on the bank’s books with a debt-to-income ratio above six times was about 20%.
UBS suggested this could be well above the new limit required by APRA.
“We expect boards, shareholders and management teams to recommend ‘very high’ debt-to-income be a low 5 to 10% of new lending flow,” Tharenou said.
“The impact of even a generous limit of 20% would likely be a negative for lending growth and credit availability.”
It is the latest warning from the UBS analysts of a potential credit crunch in the wake of the early evidence presented to the royal commission into banking and financial services, 
“This means that the introduction of debt-to-income limits will likely make borrowing for the median home in Australia (let alone Sydney or Melbourne) even more challenging,” Tharenou told The Australian.
He said restricting the amount of credit going towards borrowers with lower incomes could drag house prices in Sydney and Melbourne lower, as loan sizes would no longer support high house prices.
“Even taking into account higher household income in Sydney and Melbourne along with a 20% deposit, on our estimates the median household in Sydney will only be able to afford an $800,000 property, still well below the median house price,” Tharenou said.
UBS's George Tharenou said the credit crunch scenario would clearly be unintended by regulators and policy makers.
A tightening of access to credit for heavily indebted borrowers would also crimp the ability for property investors to enter the market. About 20% of investors own two properties, and 10% own three or more. About half of all investment properties are owned by investors with multiple properties.
“Limits could well spell the end of widespread multiple property investing in Australia — at least for those investors who maintain an owner-occupier mortgage and geared investments,” Tharenou said.
 
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jchancellor-FAypfDUnLy

UBS see heavily indebted borrowers squeezed in pending credit crunch

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According to leading economists and market commentators, liquidity has started to tighten in Australian markets in direct response to regulatory changes implemented by Australian Prudential Regulation Authority (APRA) across the banking sector forcing banks to hold more capital. 
In addition, global and macro-economic factors are adding to the squeeze on liquidity and the impacts on the domestic property sector are far-reaching.
The writing has been on the wall for some time. In mid-2015 we could see market conditions driven by APRA were leading banks to reducing their appetite for construction and development.
So far in 2016, credit for the property sector has tightened even further, particularly from the banking market. All major banks have reduced funding on a loan to valuation ratio basis and also by limiting exposure to developer and construction clients. Some banks now openly state they will not underwrite to new clients in this sector.
The credit pricing has bottomed out.
The increase of margins is partly a way for the banks to respond to return on equity dilution through the increased capital requirements by APRA and potentially alleviate margin squeeze due to liquidity pricing movements on their balance sheets.
Examining Credit Default Swaps (CDS) shows the major banks experienced a blow out at the beginning of 2016 to levels not seen since 2012. As an example, in January, 2016 the CDS price for NAB credit was below 80 basis points and has spiked at around 136 basis points with a current level of around 125 basis points.
This is the first time since the onset of the GFC where we have seen margin pricing increases in the banking market, on property investment loans as well as development and construction loans. Whilst CDS pricing has been at above these levels post GFC, the banks have not increased margins, but at that time they were not dealing with APRA requirements and pressures on profitability.
This trend is growing and market indicators all point toward further margin increases in the short term and securing finance in the next six to 12 months will be critical as setting finance now will lock in margins at historic lows and avoid any potential credit crunch issues.
 
Domenic Lo Surdo is executive director of Stamford Capital and can be contacted <a href="https://www.stamfordcapital.com.au/people" target="_blank">here</a>.
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