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]

Joel Robinson

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

Central Element is seeking approval for a significant residential redevelopment in Lavender Bay, lodging plans for a dual-tower apartment project that would deliver 163 new homes on a prominent site at the northern gateway to Milsons Point.

The Sydney-based builder-developer has lodged a concurrent rezoning proposal and State Significant Development Application for <a href="https://www.apartments.com.au/new-apartments/64-66-lavender-street-lavender-bay-nsw-2060">64-66 Lavender Street and 3-7 Middlemiss Street</a>, a 2,305 sqm amalgamated site currently occupied by a collection of ageing residential flat buildings.

Designed by SJB, the proposal would replace the existing 32 apartments with two residential towers rising 23 and 32 storeys, comprising 163 apartments including affordable housing managed by a community housing provider. The project forms part of the NSW Government's Housing Delivery Authority program and has been progressing through a fast-tracked state planning pathway since being endorsed for further assessment in 2025.

The proposal is one of the most significant redevelopment opportunities currently under consideration on Sydney's lower north shore, sitting between the high-density towers of Milsons Point and the lower-scale heritage fabric of Lavender Bay.

<img alt="Lavender Bay" data-entity-type="file" data-entity-uuid="93ecf0ee-487d-4292-afc4-0bc9579475d6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%209.30.48%E2%80%AFAM.png?VersionId=PunU2ipMaTxiJcJ8NdMyUlWA7d98eNUb" />

The planning proposal seeks a substantial uplift from the current 12 metre height limit, which would only allow for a four-storey building, however the submission argues a scheme within these limits would not be&nbsp;economically feasible given the complexity of site amalgamation and would fail to maximise housing delivery on land located within walking distance of major transport infrastructure.

SJB said the design evolved significantly following discussions with the Department of Planning, Housing and Infrastructure and independent design review processes.&nbsp;Rather than pursuing a single larger tower, the architects adopted a two-tower approach aimed at reducing perceived bulk, preserving view corridors and creating greater permeability at ground level.

The northern tower would rise 23 storeys and contain 81 apartments, while the southern tower would reach 32 storeys and accommodate 82 apartments. Five basement levels would provide 174 car spaces, 181 bicycle spaces and 10 motorcycle spaces.

"The proposal for 3–7 Middlemiss Street and 64–66 Lavender Street is driven by a clear ambition to complete the Middlemiss Peninsula, delivering the final piece of a carefully evolving urban precinct," SJB noted in its design report.

"Positioned at the threshold between Lavender Bay and the North Sydney CBD, the development is envisioned as a unifying element—one that completes the skyline composition while providing a considered and harmonious transition between the peninsula’s established character and the intensity of the CBD beyond.

"Collectively, the development aspires to create a landmark that is generous, inclusive, and deeply connected to its setting, one that enhances the skyline, strengthens the public realm, and contributes to a more equitable and sustainable urban future."

Communal spaces would be distributed across multiple levels, including landscaped podium gardens, swimming pool facilities, barbecue areas and rooftop-style retreat spaces designed for residents. The proposal delivers more than 1,500 sqm of communal open space and nearly 400 sqm of indoor communal facilities.

<img alt="Central Element" data-entity-type="file" data-entity-uuid="0671c276-6dd8-4cfc-97b0-134a45d2c8cf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%209.30.17%E2%80%AFAM.png?VersionId=90D7lRaCTMTsFx92tIBrHlZcuaV_a4cw" />

A major focus of the planning assessment has been the project's relationship with surrounding public open spaces.

Clark Park, Bradfield Park and Wendy Whiteley's Secret Garden are among the lower north shore's most valued public landscapes, and overshadowing impacts have been closely examined through the design process. Central Element is proposing to also create a new public plaza and pocket park as part of the development.

Central Element has been developing across Sydney since 2010.

They have recently completed their Chatswood tower, Ethos Chatswood, as well as their luxury redevelopment of Coogee's landmark Ballamac House. They are currently selling Pearl Bondi, just seven high-end homes, while future plans include a tower on Hyde Park, and a boutique project in Neutral Bay.

First look: Central Element reveals Lavender Bay apartment plans

Price Forecast

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 Get the good oil from SQM Research's annual Boom &amp; Bust report.
"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.
"The capital city average forecast is for dwelling prices to rise 6 percent to 10 percent."
 Click to enlarge
<img src="/images/2016/11/17/unnamed.png" alt="">
<div id="post-body-5805612569881147300" class="post-body entry-content">
<div> </div>
<div>Source: SQM Research</div>
<div> </div>
<div>SQM has an impressive track record being more right than the rest, even when going against consensus.</div>
<div> </div>
<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>
<div> </div>
<div>
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>. 
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>.
 </div>
</div>
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pwargent-M4siyDbqQY

Where to for property prices in 2017?

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Westpac economists have gone full circle in their house value forecasting, with prices to soar from December 2021.
They had been expecting between April 2020 and June next year, the national price index to fall by 10 per cent.
But last week they updated their forecasting, stating prices would only drop five per cent between April and June next year.
There have already been -2.3 per cent declines nationally, according to CoreLogic's data.
And now they're forecasting a much stronger rebound, accumulating 15 per cent over the two years from December next year.
"Apart from Victoria, where we expect prices to fall in the December quarter, we expect that in the December and March quarters in the other states, prices will be relatively stable with some upside pressure."
Evans says the June quarter and September quarter 2021 when markets have to deal with $240 billion of deferred loans currently on the balance sheet of the banks.
"That's about 620,000 borrowers, $180 billion in mortgages", Evans says.
"It's our view that risk will be well managed", Evans suggests, adding that there will be restructuring of loans, banks will be patient, and at the time there will be modest downward pressures on prices.
"But broadly speaking, The sort of fears that some of had, that that phase will be a very negative phase for house prices, I think will be unfounded."
Evans says the final phase will be that interest rates are at record lows, the overhang of the deferred loans will be behind us, and the central bank and the government will be focused on the economy, not on constraining bank lending or on over regulation
"That will be a very positive environment for the housing market."
To listed to Westpac economist Bill Evans full update, watch below. 
<iframe src="https://www.youtube.com/embed/FA3Aaet9tEw" frameborder="0" width="460" height="315"></iframe>
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jrobinson-rf4aSBido9

Westpac's full circle - forecasting 15 per cent house gains post COVID

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EXPERT OBSERVERS
The housing market remains weak, and many key indicators are around the worst levels in a number of years. However, the downturn is still tracking in line with our previous forecasts, and our outlook is relatively unchanged. 
We still anticipate prices will keep falling through 2018 and 2019, and we have extended our forecast into 2020, where prices are likely to remain subdued.
Nationwide, we continue to expect prices to fall around 4% in 2018 and 2% in 2019.
Click here <a href="https://www.propertyobserver.com.au/images/2018/9/27/state-forecast.jpg" target="_blank">to enlarge.</a>
<a href="https://www.propertyobserver.com.au/images/2018/9/27/state-forecast.jpg" target="_blank"><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/2018/9/27/state-forecast.jpg" alt=""></a>
 
We have extended our forecast to 2020, and we think prices will end that year flat from a year ago. We still expect Sydney and Melbourne prices to fall around 10% peak to trough, while other markets will perform better.
Click here <a href="https://www.propertyobserver.com.au/images/2018/9/27/house-prices.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/2018/9/27/house-prices.jpg" alt="">
 A number of headwinds will continue to weigh on the market, including further credit tightening, out of cycle rate increases, and eventual RBA rate hikes. But despite these challenges, the risks around financial stability have not worsened to date.
Credit availability, or the lack thereof, is also an issue for housing construction. 
The current round of projects is already locked in, with a record level of investment in progress. But we have concerns over the next round of projects, and expect to see construction fall steadily through 2019 and 2020.
Daniel Gradwell and Joanne Masters are economists at ANZ.
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Prices likely to remain subdued into 2020: ANZ Research

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<div>
My open letter and offer to DFA’s Martin North – Skin in the game on house prices I have sent this to Martin North, founding Principal, Digital Financial Analytics.
----------------------------------------------------------
Dear Martin Congratulations on your cameo on the TV program 60 Minutes. It was gripping viewing and a quite fantastic story. I note with a huge amount of interest your <a href="/news/45-percent-housing-price-collapse-was-least-likely-scenario-martin-norths-60-minutes-postscript">forecast for property prices to fall by “40 to 45 per cent”.</a>
It is a big call and certainly grabbed the attention of many in the public.
I note also that on your blog, you suggest the quote which included that forecast was not given the context you attached to it, namely, you rated it “only a 20 per cent chance” and that the 40 to 45 per cent price fall would be “over 3 years or so”.
That context is important.
Over the many years I have been making forecasts for the economy and markets and seeing others do the same, I find that forecasts without any skin in the game are often compromised. It is easy to construct a headline grabbing forecast for a significant move in markets, including house prices for example, but when they fade into oblivion, there are no implications for the forecaster. Forecasts really only has validity if the forecaster has an interest in the forecast being correct.
In other words, would the forecaster really make that forecast if they put their money where their mouth is?
To that end, I would like to offer you the following wager:
I will offer 6 to 1 ($15,000 to $2,500) that Sydney or Melbourne or national wide house prices will not fall by more than 35 per cent from their peak at any stage before and up to the December quarter 2021. The measure will be based on the Australian Bureau of Statistics Residential Property Price Indexes, Eight Capital Cities, Catalogue No. 6416.0.
This means that if, at any stage the price index for any of Sydney, Melbourne or the aggregate eight capital cities prices is down 35.0 per cent or more, I will give you $15,000 cash. Conversely, if by the time the December quarter 2021 data are published and the peak to trough decline is 34.9 per cent or less in Sydney, Melbourne or the eight capital cities, you have to give me $2,500.
How is that for generous and a wonderful chance to leverage your forecast into some cold hard cash?
Not only am I offering very generous odds (6 to 1 which is above your 5 to 1 probability), but I am tapering your forecast by a massive 5 to 10 per cent from the 40 to 45 per cent fall you were forecasting on the 60 Minutes program (prices only need to fall 35 per cent) and I am offering three possible markets for that to occur (either Sydney, Melbourne or the eight capital cities measure) and for the peak to trough being around 4 years, not the 3 years you suggest.
As an additional bet over and above that offering, I will offer 2 to 1 ($20,000 to $10,000) that at no stage from the peak in prices and the December quarter 2021, Sydney or Melbourne or national wide prices drop more than 22.5 per cent. That is a very generous 2 to 1 for a fall of just half of your forecast decline. If at any stage dwelling prices fall by 22.5 per cent or more, you collect $20,000, if they don’t you pay me $10,000.
How is that for amazingly generous odds and for you to have a great return even if you are half right?
The June quarter 2018 residential price series is released this week (18 September 2018) which will not change my offer but will add a little bit more information on the extent of the current price down turn.
This offer is open until 5.00pm, Canberra time, Friday 28 September 2018.
I look forward to hearing from you.
I will make the details of this offer and your response to it public as an additional part of establishing our credibility in the all important forecasting space.
Kind regards
Stephen Koukoulas
</div>
Click here to read the <a href="https://thekouk.com/item/631-my-open-letter-and-offer-to-dfa-s-martin-north-skin-in-the-game-on-house-prices" target="_blank">Koukoulas blog post.</a>
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