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


Joel Robinson

Juliet to sit quietly amid Roseville apartment boom

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


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

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


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

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


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

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


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

Dwelling Value

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<p>Dwelling values across Australia’s capital cities were 0.9% higher in January driven partially by a rebound in Sydney and Melbourne.</p>
<p>The recent growth conditions have pushed the Melbourne market into first place for annual growth in dwelling values with an 11.0% rise compared with Sydney where values are 10.5% higher over the past twelve months. </p>
<p>According to the January 2016 CoreLogic RP Data Hedonic Home Value Index results, dwelling values across Australia’s combined capital cities showed a 0.9 per cent rise in January after recording no change in December and a 1.5 per cent drop in November. </p>
<p>This month on month rise wasn’t quite enough to pull the rolling quarterly rate of growth back into the black, with capital city dwelling values remaining 0.6% lower over the past three months. Hobart led the monthly figures with a 4.7% jump in values, followed by Melbourne where values were 2.5% higher and Canberra with a 2.8% lift. Sydney values also showed a rise of 0.5%, while the remaining four capital cities showed dwelling values to be either flat or down. </p>
<p>The rolling quarterly trend was looking similarly diverse, with four of Australia’s eight capital cities recording negative dwelling value movements over the past three months, with Sydney dwelling values showing the largest fall, down 2.1 per cent. Values are down over the rolling quarter in Darwin (-1.4%), Adelaide (-0.9%) and Melbourne (-0.1%) as well. The strongest growth in home values over the quarter across the capital cities was found in Hobart with a 3.0% capital gain. </p>
<p>Despite recording the largest annual decline in home values (-4.1%), Perth dwelling values posted a 1.7 per cent rise over the three months to the end of January. Other capital cities to record a rise over the rolling <span style="font-size: 12.16px; line-height: 1.3em;">quarter were Brisbane (+0.8%) and Canberra (+1.2%). </span></p>
<p>Over the past twelve months, capital city dwelling values have risen by 7.4% with Sydney’s capital gains of 10.5% no longer the highest annual rate across the capitals. While still a high rate of annual growth, Sydney’s annual rate of capital gain is now at a 29 month low and has been progressively softening since peaking at 18.4% in July last year. </p>
<p>Melbourne’s housing market has been more resilient to slowing growth conditions which has propelled the annual growth rate to the highest of any capital city, with dwelling values 11.0% higher over the past twelve months. Previously, during the height of the growth phase, there was a large separation between Sydney’s housing market, which was streaking ahead, and Melbourne’s, where the rate of capital gain was substantial but still well below the heights being recorded in Sydney. The latest data reveals Sydney’s housing market is now playing second fiddle to Melbourne’s, at least in annual growth terms.</p>
<p>In fact, over the past six months, the performance gap between Sydney and Melbourne is stark. Sydney dwelling values have reduced by 0.6 per cent between July last year and the end of January 2016, compared with a 3.0 per cent rise across Melbourne dwelling values. The last six months have also seen both Brisbane and Canberra dwelling values rise by 2.0 per cent while Hobart values are 1.3 per cent higher and Adelaide dwelling values have been virtually flat with a 0.1 per cent rise.</p>
<p><em>Tim Lawless is head of the CoreLogic RP Data research and analytics team and can be contacted <a href="https://blog.corelogic.com.au/author/timlawless/" target="_blank">here</a>.</em></p>
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tlawless-5VLUrbAk9s

Sydney now second fiddle to Melbourne: Tim Lawless

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<p><span>EXPERT OBSERVER</span></p>
<p><span>Nationally dwelling values as at October 2018 have fallen by - 3.5% from their peak with much larger falls in Sydney, Melbourne, Perth and Darwin.</span></p>
<p><span>The reality is that there has been very little improvement in housing affordability; Sydney and Melbourne in particular are a little cheaper, but remain substantially more expensive than other capital cities.</span></p>
<p><span>Although house values in Sydney are now -9.3% lower than their peak, the cost of a house in Sydney is still substantially higher than elsewhere at $960,344. In fact, a house in Sydney is now more than double the median value of an Adelaide and Hobart house.</span></p>
<p><a href="https://www.propertyobserver.com.au/images/2018/11/22/corelogic%201.jpg" target="_blank">Click here</a> to enlarge:</p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/22/corelogic%201.jpg" alt=""></span></p>
<p> </p>
<p>Source: CoreLogic</p>
<p><span>Looking </span><span>at house values over time is interesting.</span><span><br></span></p>
<p><span>Sydney has consistently </span><span>been the most expensive capital city housing market however, although at one point, Perth was slightly more expensive (after Perth values surged more than 40% annually at one point in 2006 on the back the resources boom). Relative to other capital cities the Sydney premium is recorded at: 23% for Melbourne, 76% for Brisbane, 105% for Adelaide, 100% for Perth, 101% for Hobart, 88% for Darwin and 44% for Canberra.</span></p>
<p><a href="https://www.propertyobserver.com.au/images/2018/11/22/corelogic%202.jpg" target="_blank">Click here</a> to enlarge;</p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/22/corelogic%202.jpg" alt=""></span></p>
<p>Source: CoreLogic</p>
<p><span>Despite recent value falls in Sydney</span><span>, the value gap has not been at such wide levels as it is currently for most cities since late 2003/early 2004. The one exception is the value differential for Melbourne, which over recent years has been substantially narrower than previously.</span></p>
<p><span>Similarly, the Melbourne value gap </span><span>compared to other capital cities (except Sydney) is the widest it has ever been. Historically, the value of houses in Melbourne have been quite similar to those in Brisbane and Perth however, this is no longer the case.</span></p>
<p><span>For units, the story is a similar one</span><span>. </span><span>Sydney’s </span><span>median unit value at ($740,394) remains more expensive than median house values in all other capital cities except for Sydney and Melbourne. Similarly, the median Melbourne unit value ($555,517) remains higher than median house values in all other capital cities except Sydney, Melbourne and Canberra.</span></p>
<p><a href="https://www.propertyobserver.com.au/images/2018/11/22/corelogic%203.jpg" target="_blank">Click here</a> to enlarge:</p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/22/corelogic%203.jpg" alt=""></span></p>
<p>Source: CoreLogic</p>
<p><span>Over time, unit values have saw a consistent trend whereby Sydney has been more expensive than the other capital cities. </span></p>
<p><span>The current premium for Sydney compared to other capital cities sits at: 32% for Melbourne, 90% for Brisbane, 123% for Adelaide, 94% for Perth, 95% for Hobart, 134% for Darwin and 67% for Canberra. </span></p>
<p><span>As was the case for houses, the differential has not been as large as it is currently between Sydney and these other capital cities since 2003/2004. Melbourne was exception where the differential has been reducing over recent years.</span></p>
<p><span>With house and unit values falling in Sydney and Melbourne, Mr Kusher expects the premiums to reduce further over the coming months and year(s).</span></p>
<p><a href="https://www.propertyobserver.com.au/images/2018/11/22/corelogic%204.jpg" target="_blank">Click here </a>to enlarge:</p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/22/corelogic%204.jpg" alt=""></span></p>
<p>Source: CoreLogic</p>
<p><span>While </span><span>this may be the case, any significant reduction in housing costs back to historic premiums would take a long period of declines or flat housing market conditions. Furthermore, it seems unlikely, given the economic strength and populations of Sydney and Melbourne that the value premium of housing in these two cities will revert to historical levels.</span><span><br></span></p>
<p><span><em><span>CAMERON KUSHER</span> is a property research analyst for CoreLogic</em></span></p>
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ckusher-ujnxiKuFQs

Very little improvement in housing affordability despite dwelling decline

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<h3 class="post-title entry-title"><a href="https://petewargent.blogspot.com.au/2015/09/house-prices-rise-in-august"></a></h3>
<div>The Reserve Bank released its latest Chart Packs to 27 August, which showed that on a national basis house price growth has steepened.</div>
<h3 class="post-title entry-title"><a href="https://petewargent.blogspot.com.au/2015/09/house-prices-rise-in-august"></a></h3>
<div>This data is now presented on a log scale, which is just as well since Sydney prices were heading up almost vertically when presented on a linear scale.</div>
<h3 class="post-title entry-title"><a href="https://petewargent.blogspot.com.au/2015/09/house-prices-rise-in-august"></a></h3>
<div>Brisbane is finally now joining Sydney and Melbourne by shaping in an upwards trajectory.</div>
<div> </div>
<div><a href="/images/2015/09/04/6bl-houspri-small.gif" target="_blank">Click to enlarge</a></div>
<p><img src="/images/2015/09/04/6bl-houspri-small.gif" alt=""></p>
<p><em>CoreLogic-RP Data</em><span> also </span>released<span> its price indices for August 2015 over the last week.</span></p>
<div>Over the past quarter house prices have soared in Sydney (+7.4 per cent), Melbourne (+8.0 per cent) and Brisbane (+2.2 per cent).</div>
<div> </div>
<div>On the other hand, on a quarterly basis house prices declined in Adelaide, Perth, Canberra and Darwin.<br><br>Regional house prices in aggregate also declined over the past quarter.</div>
<div> </div>
<div><a href="/images/2015/09/04/RPD3.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/09/04/RPD3.jpg" alt=""></div>
<div> </div>
<div>
<div>On Twitter, Cameron Kusher of the same company updated his chart of home values since December 2008, which underscores the importance of capital growth to investors.</div>
<div> </div>
<div>While it was possible for investors to find a positive cash flow in Hobart back in 2008, since that time home values have been stone dead flat in the Tasmanian capital, while Sydney prices have burned up by 76.4 per cent.</div>
<div> </div>
<div>Brisbane appears most likely to be the next to go over just 9 per cent growth in home values since 2008.</div>
<div> </div>
<div>Click to enlarge</div>
<div><img src="/images/2015/09/04/RPD1.png" alt=""></div>
<div> </div>
<div><span>Looking at the split between house and unit price growth we can see that Sydney unit values exploded 9.2 per cent higher over the last 3 months (this had been evident for quite some time at auctions, and the index probably lags) as affordability constraints related to detached houses bites.</span></div>
<div><span> </span></div>
<div><a href="/images/2015/09/04/RPD2.jpg" target="_blank"><span>Click to enlarge</span></a></div>
<div><span> </span></div>
<div><span><img src="/images/2015/09/04/RPD2.jpg" alt=""></span></div>
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<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
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pwargent-M4siyDbqQY

House prices rise in August: Pete Wargent

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<p> Get the good oil from SQM Research's annual Boom &amp; Bust report.</p>
<p>"As the table below reveals, SQM Research forecasts an acceleration of dwelling price, with Sydney dwelling prices forecast to rise 11 percent to 16 percent for the 2017 calendar year," the report states.</p>
<p>"The capital city average forecast is for dwelling prices to rise 6 percent to 10 percent."</p>
<p> Click to enlarge</p>
<p><img src="/images/2016/11/17/unnamed.png" alt=""></p>
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<div><span style="text-decoration: underline;"><em>Source: SQM Research</em></span></div>
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<div>SQM has an impressive track record being more right than the rest, even when going against consensus.</div>
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<div>Purchase your copy of the detailed Boom &amp; Bust report <a href="https://www.sqmresearch.com.au/boombustreport.php" target="_blank">here</a>.</div>
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<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
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Where to for property prices in 2017?

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<p>Melbourne was the only capital city across the quarter to record dwelling declines, the June release of CoreLogic's Hedonic Home Value Index found.</p>
<p>They saw declines of -0.9 per cent over the month of May, following -0.3 per cent declines in April.</p>
<p>Hobart bounced back strongly from being the only other capital in April to record losses, posting 0.8 per cent gains over May.</p>
<p>Only Hobart, Canberra and Adelaide didn't see declines in May.</p>
<p>Sydney's dwelling values dropped -0.4 per cent last month, the first time they've seen a decline since June last year.</p>
<p>To enlarge, <a href="https://www.propertyobserver.com.au/images/2020/7/1/CL%20Index%20June%201.jpg" target="_blank">click here</a>.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/1/CL%20Index%20June%201.jpg" alt=""></p>
<p>Transaction activity through May showed positive signs, with an 18.5 per cent bounce back in activity following a 33 per cent drop in April.</p>
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<p>CoreLogic head of research, Tim Lawless, said “Considering the weak economic conditions associated with the pandemic, a fall of less than half a percent in housing values over the month shows the market has remained resilient to a material correction.</p>
<p>"With restrictive policies being progressively lifted or relaxed, the downwards trajectory of housing values could be milder than first expected.”</p>
<p>Consumer sentiment has been improving since early April, with the weekly ANZ Roy Morgan index rising consecutively for the past eight weeks, 42 per cent higher than when it bottomed out in late March.</p>
<p>Westpac's MI consumer sentiment index also rebounded 16 per cent from April to May.</p>
<p>Lawless says historically there has been a strong correlation between consumer sentiment and housing market activity.</p>
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<p><span>“With </span><span>consumers feeling more confident, households are better equipped to make high commitment decisions such as buying or selling a home", Lawless said.</span></p>
<p><span>"A lift in housing market activity should also support broader economic activity, with housing turnover providing positive flow-on effects to other sectors including retail, construction and </span><span>banking."</span></p>
<h1><span>Houses v Units</span></h1>
<p><span>Melbourne's decline was driven primarily by houses, down -1.1 per cent compared to the -0.6 per cent felt in the unit market.</span></p>
<p><span>It was a similar story for Sydney, whose housing market declines (-0.6 per cent) outweighed the unit market (-0.1 per cent).</span></p>
<p><span>Darwin's unit market took the biggest hit across any market, down -2.9 per cent over May, however their unit quarterly figures are still 2.2 per cent up.</span></p>
<p>To enlarge, <a href="https://www.propertyobserver.com.au/images/2020/7/1/CL%20full%20index%20June%201.jpg" target="_blank">click here</a>.</p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/1/CL%20full%20index%20June%201.jpg" alt=""></span></p>
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jrobinson-rf4aSBido9

Melbourne sees biggest quarterly dwelling price drop: CoreLogic

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<p>The latest CoreLogic figures are likely to show price growth flat-lined in April with Sydney having its first monthly decline since December 2015.</p>
<p>Full-month figures due to be released on Monday will show the country's peak growth phase has possibly paused or passed.</p>
<p>CoreLogic head of research Asia Pacific Tim Lawless noted the CoreLogic hedonic home value index has virtually held steady over the first twenty-seven days of the month for the five city aggregate index, "with a subtle fall in Sydney values over the month to date." </p>
<p>"Recent regulatory changes aimed at slowing the pace of investment and interest-only lending have pushed mortgage rates slightly higher and slowed the pace of investment demand. These changes appear to be having a dampening effect on housing market conditions."</p>
<p>" The softer results come after a strong re-acceleration in home values that has been evident through the second half of 2016 and the first quarter of 2017. </p>
<p>"Recent regulatory changes aimed at slowing the pace of investment and interest-only lending have pushed mortgage rates slightly higher and slowed the pace of investment demand. </p>
<p>"These changes appear to be having a dampening effect on housing market conditions." </p>
<p>The figures had Sydney up 1.4 percent in March - up 18.9 percent over the 12-month period.</p>
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<p>The last decline in Sydney values came in the December quarter of 2015, with a 1.4 percent decline in November and a 1.2 percent fall in December, coinciding the first round of credit curbs.</p>
<p>Monday's report will include figures for the five mainland capitals. </p>
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j.ballantyne1990-6AQqhLzZaK

Subtle fall in Sydney values in April: CoreLogic

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<p>GUEST OBSERVER</p>
<p><span>We’ve discussed the changing attitudes towards the amount of backyard inner city buyers prefer. </span></p>
<p><span>We found that the ‘sweet spot’ in the ratio of internal space to land size for period terraces was between 1:0.3 to 1:0.47, however this was likely skewed by larger properties bought by the extremely wealthy. For this section of the market, the focus </span></p>
<p><span>is on creating a dream sanctuary with the largest block size. Here, where space is no longer a luxury but a given, swimming pools are a common addition to backyards. </span></p>
<p><span>As Melbourne skinny dips in and out of summer’s hottest days, Secret Agent thought we’d revisit our research on these cool inner city retreats to find out the value created by having a pool in your house. </span></p>
<p><span>We looked at ten suburbs in Melbourne’s inner East and<br> South East: Kew, Hawthorn, Hawthorn East, Toorak, Kooyong, Armadale, Malvern, Glen Iris, Camberwell and Brighton. The study was limited to only include three to five bedroom houses for a more realistic representation of a pool’s value. </span></p>
<p><span>On average, a swimming pool added between 10% and 16% to the value of a house, with the lowest expected value created being approximately $140,000.</span></p>
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<p><span>However, this varied between suburbs, from as low as 6%<br> in Camberwell, up to 35% in Hawthorn East. In Kew, houses that featured a pool were expected to sell for $450,000 more, which is a premium of about 30%. In Hawthorn, a pool is expected to only add $180,000 (11%) to the value of a property. </span></p>
<p><span>There are a few explanations for the differences in added value. For example, a big house may have other extensive renovations aside from a pool; such as a cellar, theatre room, tennis courts and sculptured gardens. Additionally, the number of car spaces and the school zoning would have an impact on sale price. </span></p>
<p><span>A swimming pool can be a wonderful addition and a good investment despite its seemingly high upfront costs, since the lowest expected value it can create is around $140,000. Much more than just dollars and cents, a pool satisfies our natural, instinctive need to be close to water. </span></p>
<p class="p1"><span class="s1"><em>For more information, </em><a href="https://secretagent.com.au/"><span class="s2"><em>click here</em></span></a><em>.</em></span></p>
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jchancellor-FAypfDUnLy

Pools add at least $140,000 in value: Secret Agent

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<p>GUEST OBSERVER</p>
<p>Politics has its own purgatory, as Malcolm Turnbull and Tony Abbott might have reflected when they sat on the same table at the Howard government’s 20th anniversary dinner on Wednesday. After a day when their animosity had been on shocking display, here they were together, unable to escape.</p>
<p>Among the speakers during this nostalgia night was Peter Costello, whose prime ministerial hopes John Howard held at bay.</p>
<p>Which prompts the question: if you’re prime minister, is it easier to deal with the ambitions of someone who covets your job, or the revenge of one whose job you’ve grabbed? Arguably there are more restraints on an aspirant than on a bitter “ex” with little regard for consequences.</p>
<p>As Abbott has become increasingly overt in his sorties against Turnbull, he is discrediting himself. The defence department has trashed his much-publicised claim this week – on the back of leaked classified material – that the Turnbull government delayed the submarines project.</p>
<p>So far Abbott has been undeterred by fear of self-harm. His critics believe (or hope) the public will say enough is enough. Abbott’s ability to wound would be less, however, if the Turnbull government had its act together.</p>
<p>And that takes us to the dreadfully mismanaged tax policy process.</p>
<p>Under party and other pressures, Turnbull is said to have backed away from action on negative gearing, although it remains on the options list. Superannuation is a maze. It is still unclear when and in what form the tax package will be released. Treasury is now working frantically. Turnbull has become impatient. The expenditure review committee is due to consider tax on Tuesday.</p>
<p>Treasurer Scott Morrison appears spooked, assailed by backbench nerves and media criticism, and fighting to prevent further backsliding from a package he wants substantial enough to finance at least modest and probably targeted tax relief. He and Turnbull often seem in different places, and not just on tax options. Morrison for months noisily ruled out giving the states extra funding to help with health and education. It is now expected Turnbull will provide some pre-election sweetener.</p>
<p>With his credibility already low, Morrison did himself no good when he grabbed a report on abolishing negative gearing on established dwellings done by BIS Shrapnel, which he described as “a very damning … indictment on Labor’s policy”. The report predicted a rise in rents, a fall in new home building, and GDP shrinking by A$19 billion a year on average.</p>
<p>The work had different assumptions from the ALP policy, pre-dated Labor’s plan, and was prepared for a client BIS Shrapnel refused to identify. It contained an embarrassing error in one of its figures.</p>
<p>The report’s methodology and estimates have also come under fire, in a critique from Grattan Institute’s chief executive John Daley and Danielle Wood, a fellow at the institute. And they condemn the fact a report “that would flunk any first-year economics course has been allowed a serious voice in the public debate”.</p>
<p>The concern “goes beyond the claims of this nonsense-on-stilts report”, they argue, to the prominence received by “independent” reports produced to advance vested interests' causes. “No matter how outlandish their claims or how obscure their provenance, the media report them and politicians quote them. The public, confused or frightened by the numbers, forms the view that policy change is simply too risky.”</p>
<p>The message should at least be absorbed by the media, especially as the election approaches. It is not much good appealing to the politicians to exercise restraint. Scaring people is precisely what the government seeks to do in the negative gearing debate. But the rapid discrediting of the Shrapnel report meant Opposition Leader Bill Shorten and Shadow Treasurer Chris Bowen were able to push back with some authority.</p>
<p>As the contest about tax intensifies, the contrast is notable between the performances of Morrison and Bowen.</p>
<p>Morrison has been at odds with his leader; he has been forced back from bold ambitions to modest measures yet to be landed. Bowen has spearheaded robust policies that put the opposition on the front foot in the debate when the government still has nothing on offer. In the House of Representatives he and others have cornered the government with tight questions. Outside parliament, Bowen is quick to have press releases out to counter claims about Labor’s policy.</p>
<p>But the debate will get tougher; Shorten can be thankful his shadow treasurer is good for a lot of heavy lifting. If Turnbull’s treasurer was performing as competently as his “shadow”, Turnbull might be better placed on the tax front.</p>
<p>Meanwhile there has been an interesting development for the double-dissolution watchers. The list of bills the government wants passed in the last week of this session, commencing March 15, does not include the much-talked-about Australian Building and Construction Commission (ABCC) legislation.</p>
<p>The Greens have agreed to extended hours that week to get Senate voting changes through, but not to deal with the ABCC. In public comments the government has repeatedly linked the ABCC legislation to the threat of a double-dissolution election. Its exclusion from the priority list would weaken the case if the government wanted to include it as a “trigger” on the grounds it had “failed to pass”.</p>
<p>But if Turnbull decides to use the brand new voting system to quickly clean out the Senate crossbenchers, he has “trigger” legislation regardless of the ABCC.</p>
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<p><em><span class="fn author-name">Michelle Grattan is p</span><span style="line-height: 1.3em;">rofessorial fellow, University of Canberra and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/michelle-grattan-20316" target="_blank">here</a>.</span></em></p>
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