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

Housing Collapse

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EXPERT OBSERVER
The recent release of median housing sale prices across Australia by the Domain Group demonstrates different results for Eastern seaboard cities compared to the west and for apartments compared to houses.
The Domain data over the last year shows a collapse in Sydney house median prices of 9.9 percent compared to a median apartment reduction of 5.8 percent.
Apartments are now $350,000 cheaper than the median house and this is making apartments more affordable and therefore more attractive to more people in the market.
The interesting result from the Domain data is that Australia has two quite different profiles. The eastern seaboard cities are clearly having major drops in both housing and apartment median prices but Adelaide is amazingly seeing median house and apartment prices going up not down.
The big message for Sydney from the Domain data is that apartments have lost value at half the rate of houses. This seems to be driven by the fact that apartments are generally around $350,000 cheaper on average than a house. Clearly many Sydney families and couples are still looking to buy an apartment rather than a house due to its affordability.
Even during a time of major contraction in the housing markets the swing to apartment living is tracking well.
The Urban Taskforce is concerned that the large drop in the value of houses and apartments has been partly driven by the pre-election negative attitude to so called over development by politicians harnessing votes by championing a stop to growth.
Sydney is still growing and the housing industry needs a steady supply process to maintain jobs rather than a major drop partly driven by scaremongering at election time.
CHRIS JOHNSON is the Urban Taskforce CEO
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cjohnson-8xfqfuuCSq

Domain housing sales collapse applies more to houses than apartments: Chris Johnson

<html><body>
GUEST OBSERVATION
This is an email McGrath sent to his estate agents on Tuesday.
There was a piece on 60 Minutes that was particularly misleading in my opinion and unsurprisingly melodramatic in its depiction of a property market that could shortly spiral out of control.  It’s simply not the case.
In fact, barring any macro-economic disaster like we saw when the GFC took us all by surprise, I believe the property market has seen most of the value declines it is going to see this cycle (in many markets there has been a 5% to 10% decline in values this year and I think we may see another 5% to 7% in some areas) and at the end of that there will either be a steady state period of market stability or even a small positive rebound back by a few percent.  I say this having now experienced five property cycles in my 35 years real estate career and each time, often at around this stage of the cycle, hearing the same old headline grabbing commentary by one of two so-called experts saying something like “the Australian property market is in a bubble and when it bursts will fall by 40% etc.!” Which of course has never happened and unless we see a total financial catastrophe engulf the entire world is never going to happen.  Two questions that I get asked when I have this discussion.  “Why then do they say this and why do you think they are they wrong?” So the first one is the easiest one. Generally speaking the sponsors of such theories are seeking self-promotion.  They put their views forward in some form of press release aimed to grab media attention (the 60 Minutes story was called 'Bricks and Slaughter!') and inevitably are looking to promote a book or attract eyeballs to their website.  Steve Keen predicted a 40% drop in 2010, Johnathan Tepper predicted a 30% to 50% drop in 2016. Of course, none have even been close to accurate.  In fact, they have been ridiculously inaccurate on every occasion. And why are they going to be wrong again this time?  Well firstly you would have to interrogate what would have to happen for their theory would have any validity whatsoever. Firstly, two out of three Australians own their own home or are living in a home with the owner and one in three are in a rented place. Of the 66% who own their home, half of these homes are fully paid off with no loan whatsoever. Just park that fact for the moment but it should make you feel that property is on a very solid footing. Next let’s look at the generational change occurring – where many Baby Boomers (aged 60 to 75 approximately) are assisting their children secure a first home and of course as the life cycle turns, many will also be leaving their often-considerable assets to their kids.  And in the main most Australians are wealthier than ever before through their property, other assets or indeed inheritance. Statistically, the average Australian is worth around $395,000 which is at record highs. Next, let’s look at the underlying factors that we are experiencing today that may affect property, negatively or positively. We are enjoying a robust economy, low levels of unemployment, record low interest rates and significant overseas immigration and investment. None of these are likely to change significantly into the future. After all, we are the lucky country. So, when you combine the strong levels of home ownership with the robust economic and social markers it’s easy to see why the negative pundits have consistently got it wrong. Australian real estate is one of the best investments on the planet and that isn’t changing. Now I do have concern with housing affordability however. Despite the average Australian being technically wealthier than ever before there is no doubt that the ability for many Australians to buy their own property and in many instances even rent their own property is challenging. And this situation needs to be addresses urgently by both the Governments (Federal and State) as well as the private sector. What has been and will continue to be most Australians’ best financial freedom strategy, residential property, does have another side which must be addressed. Every Australian should have a path to securing shelter for themselves and their family and this issue will need strong collaboration by both private and public sectors to ensure we achieve this.  And at McGrath we are in a great position to assist and influence positive outcomes in this space. And we will.
John McGrath is the founder of McGrath Estate Agents.
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j.ballantyne1990-6AQqhLzZaK

60 Minutes property segment was misleading and melodramatic: John McGrath

<html><body>
Martin North says 60 Minutes took the worst case from his four scenarios as the basis of the alarming segment which went to air last night on Channel 9.
"It is not my central scenario, rated only a 20 percent chance, as I made clear when interviewed," he said noting this caveat did not make it to the final cut.
North suggested a fall of 45 percent in home prices would be over three years or so, and require the US financial markets to react to rising US Fed rates.
Click here <a href="https://www.propertyobserver.com.au/images/2018/9/17/north-forecast.jpg" target="_blank">to enlarge.</a>
<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/2018/9/17/north-forecast.jpg" alt="">
"This creates a GFC 2.0." North, a finance sector analyst and principal Digital Finance Analytics, suggested.
The 60 Minutes reporter Tom Steinfort advised "several of the experts we interviewed for this story estimate it could be as much as 40 percent in Melbourne and Sydney, while even the most optimistic property analysts concede there will be a drop of at least 10-15 percent."
Steinfort says he's been spooked by the downturn, holding off his desired property purchase with fiancee Claudia Jukic.
His 60 Minutes report kicked off with a serious inaccuracy.
"For as long as most of us care to remember, or perhaps only as long as we want to remember, property prices in Australia have only gone in one direction, at least in our big cities," Steinfort claimed.
CoreLogic's Cameron Kusher recently wrote <a href="/expert-insights/buying/2018-housing-declines-hit-melbournes-inner-east-and-sydneys-hills-district-hardest-corelogic">a detailed research analysis tracking the current downturn</a> with three downturns since 2003.
North said the figures used in the program did not reflect his “central scenario” and that Channel Nine “chose not to cover” the more likely alternatives.
“My best call would be [property value falls] in the region of 15-20 per cent from top, over two to three years,” he said.
You can read North's full analysis <a href="http://digitalfinanceanalytics.com/blog/updated-finance-and-property-scenarios-summary-findings/" target="_blank">here</a>. 
 
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jchancellor-FAypfDUnLy

45 percent housing price collapse was least likely scenario: Martin North's 60 Minutes postscript

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<div>
Australia's housing is among the four riskiest markets in the world, according to Oxford Economics.
It has a strong prospect of falling prices posing a threat to economic activity, the research paper noted
The housing market dangers were "especially acute" in Sweden, Australia, Canada and Hong Kong, according to Oxford.
Weighing up a range of risk factors, including housing valuations compared to long-term averages, it noted all four valuations were very elevated.
It noted there has been a lengthy housing boom, debt levels were high and there was a significant share of floating rate debt, Oxford's lead economist Adam Slater wrote in a research note.
The risks were relatively limited in key markets including the US, Germany, France, China and Japan.
</div>
<div>
Overall edian OECD house price valuations are below the 2006-07 peak but are higher for the risky markets, according to Oxford.
<div id="article-inline-ad">"Historical experience suggests that high valuations – of 125 per cent or more of the long-term average – point to a 60 per cent chance of prices falling over the next five years," Mr Slater wrote.</div>
</div>
<div> </div>
<div>"This matters because house prices can have a big impact on economic activity, even if the link may have loosened in the G7 in recent years.</div>
<div>
"Looking across a range of housing risk indicators, property market dangers look concentrated in a number of smaller advanced economies and are less severe for the largest economies."
On a valuation index where the long-term average is 100, Australian housing is at 160, while Sweden is at 165, Canada at 173 and Hong Kong at 203.
</div>
<div>Slater wrote rising rates are not strictly necessary for prices to start falling (i.e. Sweden) and in the context of high valuations and debt, even modest increases (i.e. Canada and Hong Kong) "could be a problem."</div>
<div> </div>
<div>Oxford's assessment suggest Australian house prices have another risk factor, with an 82 per cent share of its mortgages held on floating rates.</div>
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Australia's housing among the four riskiest markets in the world, Oxford Economics

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Ray White agents across Australasia achieved $3.4 billion in sales during August, which was the same tally as July.
However it was down on last August.
The last month of winter in 2017 saw the headline sales figure for Australia and New Zealand come at $3.67 billion, which was up nine percent compared to 2016.
At the time it was noted August 2017 "had produced a better result than many might have expected."
This week Brian White noted "while well below the result last year, it supports our view that the market may well have now adjusted."
Brian White, chairman of real estate agency Ray White, said the majority of the market correction had already happened.
“There has been an adjustment and I believe that much of that adjustment has been made,” Mr White said.
“The speed of the growth in Sydney and Melbourne was unsustainable.
"We are experiencing a healthier market.”
Markets outside Sydney and Melbourne had been resilient. 
“Only an explosion in interest rates would pull the market down significantly,” he said.
State based figures were not available for August 2018.
But in August 2017 New South Wales sales had lifted 18 per cent year on year to $1.259 billion. Sales volume in Victoria jumped 30 per cent to $647 million.
In August 2017 Queensland’s sales came in at $696 million, just $2 million shy of the same time in 2016. Tasmania booked $10 million, while Western Australia reported $84 million and South Australian sales came in at $117 million.  Its New Zealand network reported $629 million in August 2017, down 13 per cent on the same period in 2016.
 
 
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Ray White see August 2018 sales dip

<html><body>
<div class="cq-article-content-paras section">
House price falls in Sydney and Melbourne "will get worse before they get better", Deloitte Access Economics says.
The increasingly higher cost and lower availability of credit will generate a "mini-credit crunch."
"The nation's immigration intake will be cut – perhaps severely – thereby undercutting many of the 'most likely' forecasts underpinning the growth of domestic markets," the report says.
There would also be a "fear-of-fear-itself" momentum, the report adds.
</div>
<div class="cq-article-content-media section">"Lending is down, it's amidst its longest dry spell since the global financial crisis, and investor loans have dropped to a six-year low," the Deloitte report, reported in The Australian Financial Review, says.</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">"That says housing price falls – now infecting Melbourne – will get worse before they get better," said Deloitte adding they still expect a pretty benign construction cycle.</div>
<div class="cq-article-content-paras section">
"That benign nature owes much to what we don't see in the next couple of years.
"We don't see China falling over and Australian unemployment jumping. And we don't see global and local interest rates rising fast.
"That still sees the current downswing bottoming out in late 2019 but, thanks to continuing population gains, bottoming at levels that are solid compared with the depths plumbed in past cycles."
Deloitte’s latest Business Outlook report projects that state and federal budgets will be hit hard by falling house prices and commodity prices.
</div>
<div class="cq-article-content-paras section">
NSW will bear the brunt of the housing downturn because it has had the biggest rise in house prices among capital cities.
Expensive homes will struggle to sell but there will be "less damage at the lower end", which benefits from first home buyer concessions, the report says.
“House prices are essentially a function of how much people can borrow,” Deloitte economists led by Chris Richardson wrote in their 155-page quarterly report released today.
“Big banks are now running scared,” it suggests.
“Their sudden surge of caution means borrowers with the same characteristics would now get a smaller loan than they would have 18 months ago.”
They predict the current house price falls in Australia will “keep on keeping on”.
 
</div>
<div class="cq-article-content-paras section">
 
</div>
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House price falls in Sydney and Melbourne "will get worse before they get better"

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<div>GUEST OBSERVER</div>
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 Australia has roughly “six weeks” to prevent a housing market collapse caused by the banks’ crackdown on foreign investment, a US-based security think tank has warned, according to a News Limited press report.   Quite clearly, you can tell from the website of the think tank, the International Strategic Studies Association, are not exactly experts in the field of Australian housing.   As I tweeted out yesterday, if we are truly six weeks away from a national housing crash, why are most leading indicators such as auction clearance rates and total real estate listings suggesting otherwise?   And surely we would also be already recording a significant rise in non-performing loans? The chart below shows that’s clearly not the case. Such loans, in fact, remain at low levels. <a href="/images/2016/09/15/e7a43fa6-d686-4b6d-b16d-d1e7f2464075.png" target="_blank">Click to enlarge</a>
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<div><img src="/images/2016/09/15/e7a43fa6-d686-4b6d-b16d-d1e7f2464075.png" alt="">   We pretty much have had from the time the national market started to rally in late 2012, a pile of market bears declaring the imminent crash of the Australian housing market. They are, what I call, the boys who cried wolf. And one thing they all have in their favor is a media circus who will give them all a front page and reporters who rarely check their credentials, qualifications or their previous track records, which too often leave little to be desired.   I guess, in the above story at least, News Limited, who had the 'exclusive', asked for a counter view. I am also pleased to say one very major television network opted out of taking the ‘story’ any further when they contacted the SQM Research office for its view.     More than this, I am convinced there is an industry of bear spruikers who earn a living preaching the end of the financial world, and for that matter, the demise of Australian housing. Take this example from Harry Dent -   a very public figure who has repeatedly made trips to Australia preaching the end of our housing market.  No wonder he enjoys coming out here.  You see, if you want to hire out Harry for a speaking engagement, the cost will be US$20,000 to US$40,000. Not bad for a day’s pay!   I’m sure if I were to dig deeper into a number of these very public bears, we would most certainly uncover a prosperous industry. That is, so-called experts making big dollars out of preaching doom.   Now, I have always said that I have no problem with those voicing the risks in the Australian housing market. There are indeed many risks, particularly those associated with the ever-rising level of household debt to GDP and what that would mean if our country just returned to ‘normal’ cash rate settings. That would indeed likely trigger a real rise in bad loans.  </div>
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<div>These risks need to be pointed out to all participants. That, along with particular risks within the housing market, such as a clear oversupply of Brisbane CBD apartments, as the elevated vacancy rate highlights.   And for that matter the ongoing collapse of the Perth rental market, particularly in the Perth CBD itself, where the vacancy rate is over 8 per cent.   But it’s when I see headline-grabbing stories like the one above, with no follow up investigation, that I feel the public are been taken for a ride by sections of the media and by 'experts' out to grab a headline and maybe a quick buck.   Sorry to say, the great Australian housing crash predicted by Harry Dent and other so-called experts in 2014, 2015, 2016 and 2017 is far from a certainty.   There are many other ways our overvalued housing market may return to some sort of sense of fair value, which could include the very ‘boring’ scenario of underperformance for a very long time.</div>
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<div>Louis Christopher is managing director, SQM Research and can be contacted <a href="https://sqmresearch.com.au" target="_blank">here</a>.</div>
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