Following the proposal by the Minns Labor Government to rezone Parramatta Road to create up to 8,000 new homes, prominent developer Ceerose has gone to the NSW Gov to increase the density of its new mixed-use residential building in Leichhardt.

<a href="https://www.apartments.com.au/builders/ceerose">Ceerose</a>, founded by Edward Doueihi nearly three decades ago, has filed plans for 154 apartments above ground-floor retail at 307-315 Parramatta Road, a key corner site near Norton Street, the main high street strip in Leichhardt.

It's an upsize from the previously approved scheme of 63 apartments across a seven-storey building.

<img alt="Ceerose" data-entity-type="file" data-entity-uuid="ba1ae75b-5f08-43fb-b8d5-3de6d9f6ef71" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-04%20at%2010.31.39%E2%80%AFAM.png?VersionId=yA3hBBLPH4ev7MsAE0_hieXeqiFqBUb7" />

The project is being advanced through the State Significant Development (SSD) pathway, with concurrent rezoning sought to facilitate the proposal. The 10-storey development would rise over a four-level basement and deliver two retail tenancies, one a larger-format offering and the other a smaller “hole in the wall” space, addressing the Parramatta Road frontage. 21 of the apartments are dedicated as affordable housing.

According to the Urban Design Report by Architecture AND, the scheme includes a podium and tower configuration, with a fine-grain, two-storey parapet street wall that references the traditional shopfront rhythm along the corridor. “An elegant tower form is proposed, combined with a characterful two storey frontage... articulating it as two related buildings, providing consistency with the rhythm and grain of Parramatta Road,” the report notes.

The residential component is split across two slender towers set back from the street edge, a design move aimed at preserving solar access and reducing perceived bulk. This massing strategy also seeks to improve residential amenity by focusing scale toward the quieter northern interface, away from Parramatta Road’s noise and pollution.

<img alt="Ceerose" data-entity-type="file" data-entity-uuid="347f2f8f-5d36-4388-b40a-2e77380b9c19" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-04%20at%2010.31.02%E2%80%AFAM.png?VersionId=xvyUE2ujT1lzivXTo.mHBJFF4SmfgLtz" />

Architecture AND has worked with Ceerose on previous Inner West projects, and cites a deep familiarity with the local character. Their design draws heavily on context, heritage, and sunlight access considerations, and engages with the Inner West Council’s “Our Fairer Future” strategic planning framework.

The site spans 2,712 sqm and is located near key intersections with Catherine Street, Hay Street, and Redmond Street. It adjoins a public carpark to the north and is within walking distance of Stanmore and Petersham stations. It is also flagged in state and local planning strategies, including the Parramatta Road Corridor Urban Transformation Strategy, as a suitable candidate for increased density.

Ceerose recently completed The Alex Collective on McEvoy Street in Alexandria, Abbie's Lane in Annandale, and the award-winning Munro House in Elizabeth Bay.

The Parramatta Road corridor is coming to life with the proposed rezoning which is serviced by a significant number of bus, light rail and train routes.

Deicorp is progressing with its $1.8 billion <a href="https://www.apartments.com.au/new-apartments/kings-bay-village-five-dock-53-75-queens-road-five-dock-nsw-2046">Kings Bay Village</a> precinct on Parramatta Road in Five Dock, as is <a href="https://www.apartments.com.au/news/nsw/toga-to-push-on-with-five-dock-mixed-use-masterplan">TOGA further down the street</a>. Those two projects alone will bring nearly 2,000 new homes to Parramatta Road.

Joel Robinson

First look: Ceerose plots mixed-use Leichhardt development on Parramatta Road

North Sydney's landmark 'SBS Building' on Alfred Street is set to be demolished to make way for a new mixed-use residential tower in the booming North Sydney.

Commercial property group FiveX is behind the plans for a <a href="https://www.apartments.com.au/new-apartments/275-alfred-street-north-north-sydney-nsw-2060">39-storey tower</a>, the latest project to advance under the NSW Government’s Housing Delivery Authority pathway.

They are proposing 184 apartments above retail spaces, which will replace the existing 20-storey commercial building. FiveX was set up more than five decades ago by Joshua and Marko Berger. It is currently led by Joshua's son Lesli.&nbsp;

<img alt="First look: Fivex plans 39-storey residential tower at 275 Alfred Street, North Sydney" data-entity-type="file" data-entity-uuid="2efa0980-53fa-4cca-9f9e-9c3c845d4746" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29%20%281%29_0.png?VersionId=y_YyPMq3NQLfYRs84pP4os9UgWiMLp75" />

According to the Architectural Design Report by <a href="https://www.apartments.com.au/architects/fjc-studio">FJC Studio</a>, the slender tower form has been deliberately designed to respect the site's transitional setting at the southern gateway to the North Sydney CBD, where high-rise towers give way to lower-scale residential precincts.

"The slender tower form and articulated podium establish a respectful relationship with nearby heritage and low rise buildings, including the Whaling Road Heritage Conservation Area,” the architecture firm noted, adding that the tower “completes a missing link in the urban fabric” while enhancing the Alfred Street streetscape.

The proposed building will include a mix of one-, two- and three-bedroom apartments, with 15 percent of the gross residential floor area allocated as affordable housing. There is an agreement already in place that those apartments will be managed by Evolve Housing.

The project aligns with broader state housing objectives, including the National Housing Accord target of delivering 1.2 million new homes by 2029. The Scoping Report filed with the State Significant Development Application (SSDA) suggests the site "presents no impediments to rapid delivery,” with construction able to commence within 12 months of receiving consent.

North Sydney has been one of the most popular suburbs in Sydney for new and off the plan apartment development, but hasn't had the supply to keep up with demand, until recently.

AURA by Aqualand was, for a long time, the only off the plan apartment building on the market. That completed last year, and has sold the majority of its 386 luxury apartments. Recently ALAND launched <a href="https://www.apartments.com.au/new-apartments/the-walden-173-179-walker-street-north-sydney-nsw-2060">The Walden</a> on the same street, selling over $100 million within just a few hours of its launch, while developer CASA also launched&nbsp;<a href="https://www.apartments.com.au/new-apartments/the-mclaren-north-sydney-45-mclaren-street-north-sydney-nsw-2060">The McLaren</a>&nbsp;in the same precinct.

First look: Fivex plans 39-storey residential tower in booming North Sydney

Kokoda Property Group has announced the Sydney-based Versatile Construction as the builder for its landmark $1.5 billion <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a> precinct.

Construction of the 17,612 sqm site is scheduled to commence in December 2025 and is expected to be delivered in stages from 2028. Once complete, <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a> will comprise 212 residences across four architecturally distinct buildings, alongside Brisbane’s first Kimpton Hotel, extensive retail, hospitality, and wellness amenities.

[smartcode_project:default project_id=139896 project_image_fid=295098]

Kokoda Property Group Founder and Managing Director, Mark Stevens, said appointing Versatile Construction marks a significant milestone for <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a>.

“Partnering with Versatile Construction gives us confidence in delivering a precinct that sets a new benchmark for luxury living, curated experiences and vibrant riverfront activation," Stevens said.

"Together, we will bring the vision for <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a> to life, creating a destination that residents and visitors will enjoy for generations."

Throughout the construction phase, more than 2,000 jobs will be created, supporting hundreds of local contractors and suppliers.

[smartcode_project:default project_id=139896 project_image_fid=352274]

Marco Fahd, Chairman &amp; CEO at Versatile Group, said the company is looking forward to&nbsp;expanding their footprint in the state, taking on their inaugural project in Brisbane.

"We are proud of the unwavering commitment our team of experts have to quality and certainty in delivery and are excited to work with Kokoda to bring their vision for this unique project to life," Fahd says.

Sales reached $285 million on the launch of <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a>, with sales momentum continuing to "exceed all expectations."

Stevens says the overwhelming response from buyers validated the group’s vision for <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a>.

“The demand for a luxury product in this enclave has been extraordinary, we’ve never seen anything like it before. It reinforces everything we’re doing around quality, design, and creating genuine lifestyle precincts. Buyers are recognising the enduring value of Brisbane’s riverfront and are responding to the opportunity to live within a world-class destination that celebrates both place and lifestyle.”

[smartcode_project_cta:default project_id=139896]

Kokoda appoints builder for $1.5 billion Teneriffe Banks waterfront precinct

Castle Hill’s booming development market is set for another boost, with builder-developer Buildex proposing a new mid-rise apartment building near Castle Towers.

Buildex has submitted plans to The Hills Shire Council for a <a href="https://www.apartments.com.au/new-apartments/197-old-northern-road-castle-hill-nsw-2154">nine-storey building comprising 57 apartments</a> on Old Northern Road. The company acquired two adjoining sites earlier this year, totalling more than 2,683 sqm.

Texco Design has prepared the scheme, which includes five one-bed plus study apartments, 37 two-bedrooms, and 15 three-bedrooms.

Castle Hill has become a hotspot for developers in recent years, undergoing significant transformation driven by the opening of the Hills Showground Precinct to development and the introduction of two metro stations servicing the suburb.

Developers including Deicorp and Kassis Homes have already completed projects, and are progressing future developments, while Meriton, Arada, and Ellipse are currently delivering new projects in the rapidly evolving area.

Staff Writer

First look: Buildex plans 57 apartments near Castle Towers

Gold Coast developer&nbsp;<a href="https://www.apartments.com.au/developers/immerse-projects">Immerse Projects</a>&nbsp;has unveiled what it intends to deliver at its recently acquired Toowong site, its debut apartment development in Brisbane.

Immerse, founded by John Kearney who is also the founder of regarded construction company Greyburn, secured the prime Sylvan Road site <a href="https://www.apartments.com.au/news/qld/first-look-immerse-projects-moves-into-brisbane-apartment-market-with-toowong-site-acquisition">earlier this year</a>, in an area which has historical significance to Kearney who&nbsp;studied at the nearby University of Queensland.

"It feels like a full circle moment," Kearney told&nbsp;<a href="https://www.apartments.com.au/" target="">Apartments.com.au</a>.&nbsp;

“I spent many nights at the Regatta Hotel just down the road, as have most people in&nbsp;<a href="https://www.apartments.com.au/developments/brisbane-qld" target="">Brisbane</a>. It’s one of the city’s most well-known hotels, and with several cafes, restaurants, and a CityCat stop nearby, it’s become an even more attractive place to live.”

He is planning a <a href="https://www.apartments.com.au/new-apartments/22-24-sylvan-road-toowong-qld-4066">15-storey project with 88 apartments</a> above an activated ground plane with a shop and hospitality spaces.

<img alt="Toowong podium" data-entity-type="file" data-entity-uuid="c350436b-9d64-46cc-ab6f-defc009e1b65" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium_0.png?VersionId=zt7A0_14M62TkZ61YHnGmEck9KM9HqDA" />

The architecture, led by <a href="https://www.apartments.com.au/interior-designers/bda-architecture">BDA Architecture</a>, presents a tower massing that responds to the area's evolving mid-rise context. The scheme incorporates podium and rooftop communal spaces, while the commercial elements aim to activate the Sylvan Road frontage and enhance the site's interface with the adjacent parkland.&nbsp;

Landscaping plans by Ivy May Landscape Architects include subtropical planting and deep soil zones to support stormwater management and visual integration.

Supporting documentation from Mewing Planning Consultants notes that "the proposed development will deliver a mixed-use outcome that enhances the vibrancy of the Sylvan Road corridor" and highlights its proximity to high-frequency public transport and community facilities.

<img alt="First look: Immerse Projects moves into Brisbane apartment market with Toowong site acquisition" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/22-24%20Sylvan%20%20Rd%20Toowong_Markups.jpg?VersionId=u4_IGzpYLPFfAZSsgCZynov3bm7umwJ." />

&nbsp;

There's been little new apartment development in Toowong in recent years. The most notable is Consolidated Properties two-tower Monarch Residences, which is approaching completion with nearly all of its 224 residences sold.

Kearney describes&nbsp;<a href="https://www.apartments.com.au/developments/toowong-qld-4066" target="">Toowong</a>&nbsp;as a suburb with real depth.

"The suburb attracts everyone, from students to retirees, and that's what makes it interesting."

First look: Immerse Projects reveals debut Brisbane apartment development in Toowong

Moody's Analytics

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Australian real estate investment trusts (A-REITS) have good gearing buffers to withstand the looming property value declines, according to a recent report from Moody's Investors Service.
The predicted downturn is due to weak demand and slowing economic activity caused by the coronavirus pandemic.  
The report found that property values would need to fall significantly for A-REITs to breach gearing and covenant thresholds.
“We expect retail property values to decline in the next 12-18 months because of weak demand and economic activity resulting from coronavirus related disruptions,” saidsenior analyst Saranga Ranasinghe.
“Office property values will fall to a lesser degree, and continued demand will support industrial property values.”
The report futher found that average property values would need to fall 34% to breach the top end of the rated REITs' target gearing (debt/asset) ranges and fall 55% to breach their covenant thresholds.
The REITs came into the downturn with balance-sheet buffers to withstand an increase in gearing. 
According to the report retail A-REITs will experience the largest declines in property values.
“In response to coronavirus disruptions, Vicinity Centres (VCX, A2 negative), Shopping Centres Australasia Property Group (SCP, Baa1 stable) and Charter Hall Retail REIT (CQR, Baa1 stable) raised equity to strengthen their balance sheets,” added Ranasinghe.
CQR's gearing will approach covenant thresholds if property values fall more than 25%. Without debt reduction, Scentre Group's (SCG, A2 negative) gearing will breach its rating tolerance levels if property values fall more than 27%.
But SCG's gearing will remain well within its covenant thresholds.
Diversified A-REITs with retail property are also exposed to devaluations; office value declines are likely to be moderate.
Despite exposure to retail, the risk to diversified A-REITs is mitigated by exposure to industrial as well as office properties.
Stockland Group (SGP, A3 stable) has the largest exposure to retail. SGP has significant buffers within its covenants, but it will approach its rating threshold if its retail property values decline more than 30%.
We expect office property values will decline only moderately over the next 12-18 months and do not see material risks to gearing levels of other diversified A-REITs.
Industrial property values supported by e-commerce penetration and increasing focus on supply chains.
Unlike retail and office, we expect industrial property values will be flat to up slightly over the next 12-18 months.
The pandemic has accelerated e-commerce penetration in Australia and increased focus on supply chains.
The report concluded that Goodman Group (GMG, Baa1 stable), Goodman Australia Industrial Partnership (GAIP, Baa1 stable), and Charter Hall Prime Industrial Fund (CPIF, Baa1 stable) will benefit most.
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Most Australian REITs can withstand property value declines: Moody’s Investors Service

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Housing affordability will deteriorate throughout 2020, according to a report from Moody's Investors Service.
Housing affordability for new mortgage borrowers - measured as the proportion of household income borrowers need to meet repayments on new mortgages – improved on average in Australia over the year to September 2019.
I noted that mortgage interest rate cuts and housing price declines were responsible. 
However, affordability has deteriorated since July 2019 because of a housing price rebound, particularly in Sydney and Melbourne. 
The study predicts that housing affordability will deteriorate over 2020 as housing prices continue to increase. 
The risk of delinquencies and defaults in new mortgages will increase as affordability deteriorates, a credit negative for Australian residential mortgage-backed securities, Moody's said.
On average, Australian households with two income earners needed 24.6% of their monthly income to meet monthly mortgage repayments on new loans in September 2019, down from 26.7% in September 2018 but up from 24.2% in July 2019. 
<img src="https://www.urban.com.au/images/2019/11/4/price%20graph.png" alt="">
Australian housing prices decreased an average 1.6% over the year to September 2019, while average household income increased 2.5% and average mortgage interest rates declined by 0.4 percentage point after the Reserve Bank of Australia lowered the official cash rate in June and July 2019. 
The RBA cut the cash rate further in October, which is positive for affordability, however the study predicts that this will be outweighed by rising housing prices over 2020. 
Housing prices increased 1.7% in the two months to September. 
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Moody's Investors Service predicts that housing affordability will deteriorate in 2020

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South Australia’s housing market remains relatively stable, in part because of the avoidance of excessive runup in values that occurred on the eastern seaboard, according to the latest data from Moody's Analytics.
It found house values in Greater Adelaide rose 1.9% in 2018, supported by strong growth in West and North Adelaide, whereas the increase in unit values was more moderate at 0.7%.
There is some expected divergence in South Australia house values. While house values are expected to fall by 0.5% in Greater Adelaide, they are expected to accelerate in regional South Australia and grow by 1.2% in 2019.
The growth in unit values in Greater Adelaide, however, is likely to remain steady and values are expected to rise by 0.7% in 2019, Moody's Analytics forecast.
<img src="https://www.urban.com.au/images/2019/10/28/SA%20Moodys.JPG" alt="">
Katrina Ell, Economist at Moody’s Analytics said: "In 2020, house values are predicted to rise by 1.4% in Greater Adelaide, supported by a strong pickup in house prices in North and South Adelaide.
"The weakness in house values in Central and West Adelaide, however, is likely to persist next year, with values projected to decline by 1.2% in both suburbs in 2020. In comparison, house values in regional South Australia are expected to record stronger growth of 2.7% in 2020, driven by a significant increase in home values in South Australia-Outback.
"In contrast, unit values in Greater Adelaide are expected to pick up modestly by 0.8% in 2020, because of weaker prices in West Adelaide, which are likely to fall further by 4.9% through 2020.
"House values are predicted to gain momentum in 2021 and increase by 5.1% and 3.9% in Greater Adelaide and regional South Australia, respectively.
"Unit values, however, are forecast to increase moderately by 1.1% in the Greater Adelaide region."
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Adelaide housing market to leap ahead of apartments in 2021: Moody's Analytics

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Sydney’s housing market has started to emerge from its correction, according to the latest data from Moody's Analytics.
They found, Sydney apartment values began expanding from June, while house values enjoyed gains from July and, in both cases, modest improvement is forecast to continue.
House values will fall an average of 8.4% in 2019, before a 7.7% expansion in 2020. This follows a 5.5% decline in 2018.
Moody’s Analytics identified previous episodes of corrections over the last three decades (see Chart 11). This shows that the recent correction has been the longest and steepest on record for the Sydney market.
<img src="https://www.urban.com.au/images/2019/10/28/NSW%20Moodys%202.JPG" alt="">
The most recent peak in house and unit values was around mid-2017.
Although unit values have corrected, it has not been to the same extent as houses.
Unit values are on track to fall by an average of 5.9% in 2019 after a 3.1% drop in 2018. An improvement of 7.9% is expected in 2020, followed by an improvement of 8.4% by 2021.
Click <a href="https://www.propertyobserver.com.au/images/2019/10/28/NSW%20Moodys.JPG" target="_blank">here</a> to enlarge.
<img src="https://www.urban.com.au/images/2019/10/28/NSW%20Moodys.JPG" alt="">
According to Moody's Analytics economist Katrina Ell, "house values in the City and Inner South area have passed their trough after a sharp decline through 2018."
"The Inner South West is on track to see a 12.9% fall in 2019, after a 5.3% fall in 2018. A 6% expansion is forecast for the Inner South West in 2020."
"The correction in Sydney is forecast to have largely passed by 2020, but home value growth will be far from the lofty gains of recent years. Housing values are forecast to rise by an average of 7.7% for houses and 7.9% for apartments."
"Areas outside metropolitan Sydney are mostly on track to escape the bulk of the correction."
"As potential homebuyers’ incomes have not kept pace with the Sydney housing market, demand has increased for areas outside of Sydney, where affordability is better."
"Areas including the Hunter Valley, excluding Newcastle, have become attractive destinations for those still tied to Sydney for employment but for whom purchasing property would stretch the household budget too far.
"These areas have adequate transport links back to Sydney for frequent commuting."
"House values in the Hunter Valley are forecast to fall by 2.1% in 2019 and rise by 3.6% in 2020, after increasing 6.6% in 2018."
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Sydney housing market emerging from correction: Moody's Analytics

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Brisbane apartment prices are expected to perform better than houses in the medium term, according to Moody's Analytics.
They forecast the Greater Brisbane area's apartment values to increase by 5.6% in 2020 after a 0.7% decline in 2019. 
Moody's said growth in Brisbane apartment market has been crimped by high supply in recent years.
Between 2013 and 2016 apartment approvals outnumbered housing approvals on an average three to one.
Recently approvals have been more aligned which is set to drive apartment prices. 
<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/2019/6/24/Brisbane%20Apartments%20Recovery%202.jpg" alt="">
The increase is forecast to be led by Ipswich and the Moreton Bay North areas which are expected to see prices increase over eight percent in 2020.
"Apartment prices are expected to perform better than house prices for Brisbane (and Greater Brisbane) in the medium term", Moody's advised.
"We forecast home values to underperform throughout the forecast period, while apartment values are expected to reach a trough in 2018-2019 followed by a pronounced recovery in 2020 
Moody's 2021 forecast for Brisbane apartments is similar to how they expect it to perform in 2020, however there are areas of concern in the inner city areas.
Ipswich and the Moreton Bay regions will remain strong, however Moody's believe there will be declines up to 5.4% for apartments in the inner city. 
<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/2019/6/24/Brisbane%20Apartments%20recovery.jpg" alt="">
 
 
 
 
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Brisbane’s apartment market forecast to rise 5.6% in 2020: Moody's Analytics

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The national housing market is forecast to trough in the third quarter of 2019, according to Moody's Analytics Second-Quarter 2019 Housing Forecast Report.
A gradual recovery in values has been predicted following the end of the downturn.
The May CoreLogic Hedonic Home Value Index results show the national housing market continuing its correction, led by Sydney and Melbourne.
House values across the country have declined almost 11% from their peak in mid-2017.
Moody's Analytics expect Sydney's housing market to lead the way in the recovery in 2020.
<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/2019/6/24/Moodys%20Housing%20Correction%20Forecast.jpg" alt="">
<div class="page" title="Page 7">
<div class="layoutArea">
<div class="column">
"The correction in Sydney is forecast to have largely passed by 2020, but home value growth will be far from the lofty gains of recent years," Moody's noted.
"Housing values are forecast to rise modestly in 2020, with an average increase of 3.1% forecast for houses and 4% for apartments."
</div>
</div>
</div>
Moody's have predicted a 7.8% national housing value decline in 2019, with prices to recover in 2020, rising 2.2%. They see a 4.7% increase across the country in 2021. 
<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/2019/6/24/Moodys%20Housing%20Forecast.jpg" alt="">
"Support for the improvement is coming from the RBA cutting the cash rate, alongside expected improvement in credit availability from APRA proposing to ease serviceability requirements," Moody's said.
"A gradual improvement will be the path going forward, with softer macroeconomic conditions at home, including expectations of wage growth remaining subdued working to dampen a stronger recovery."
Moody's forecast improvement in Melbourne's housing market too in 2020, with the inner east and north east leading the recovery.
The housing market around the Brisbane area is likely to see either flat or mildly positive returns in the coming years.
There will be areas with a correction in 2019 according to Moody's with a particular weakness in South Brisbane.
Perth is expected to be hit hard over 2019, with house values likely to decline nearly seven percent. Moody's believe there will be a small recovery in 2020 as the local economy improves thanks to population growth.
Adelaide’s housing market will continue its stable run, with house values forecast to rise 0.4% in 2019 after a 1.9% gain in 2018.
Moody's suggest Hobart's booming housing market bull run is likely at the end. House values are forecast to rise 2.8% in 2019, followed by modest corrections in 2020 and 2021. 
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Moody's Analytics

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