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

Reiq

<html><body>
The chairman of Queensland's peak real estate industry lobby group has stepped down unexpectedly.
But the Courier Mail reported REIQ members have been kept in the dark about the reasons for the move.
The loss-making Real Estate Institute of Queensland alerted members earlier this month that Rob Honeycombe had resigned.
Honeycombe remains a director of the institute where he has had membership since 1994.
He was the chair from 2014 to 2018.
Peter Brewer has been the chair from March 29 when REIQ advised Honeycombe announced his resignation at the March Board meeting, "for both personal and professional reasons."
“The REIQ is in the process of developing a new three-year strategic plan that will propel this organisation forward into exciting new territory and with my term expiring in October I wanted to give someone else the opportunity to lead the organisation through this transition,” he said. 
“I’ve got great confidence in passing the Chairman’s baton to Peter Brewer,” Mr Honeycombe said.
REIQ CEO Antonia Mercorella thanked Mr Honeycombe for his years of service to the REIQ. 
</body></html>

j.ballantyne1990-6AQqhLzZaK

Rob Honeycombe departs REIQ chair

<html><body>
Southeast Queensland’s world-class beaches are driving median price growth for our coastal housing markets, according to the REIQ.
Noosa continues to reign supreme with 9.6 per cent annual growth, followed by Gold Coast with 7.3 per cent annual growth and Sunshine Coast LGA with 6.8 per cent annual growth to median house prices. 
REIQ CEO Antonia Mercorella said the growth surge was helped along by a boost in tourism numbers. 
“Tourism is one of the largest contributors to Queensland’s gross state product (GSP), with almost 8 per cent of GSP coming from tourism.
"This is roughly $25 billion in the year to June 2016, which means when that sector grows it offers employment opportunities and this attracts workers who need somewhere to live,” she said. 
The strong performance of the southeast corner’s coastal markets has helped drive Queensland’s growth over the past 12 months, with more than 58,000 houses sold and an annual median price growth of 2.4 per cent. 
Brisbane LGA: Brisbane LGA enjoyed another year of steady sustainable growth, with the annual median house price increasing 3.1 per cent to a new high of $660,000. 
This market has grown almost 30 per cent over the past five years, demonstrating solid financial returns for property owners. 
The unit market has continued its softening, with the market contracting 2.6 per cent over the past year.
The new annual median house price is $440,750, down from $452,500 a year ago. With more supply expected online over the next 12 months we expect this market will not firm up until mid-2019 at the earliest. 
The million-dollar club welcomed new entrants this quarter, with 18 suburbs claiming a median of $1 million or above, compared with 15 suburbs last quarter. This quarter solidified growth for the sole two-million-dollar club entrant of Teneriffe and its median of $2.6 million. 
<ol>
<li>Ascot: $1.52 million</li>
<li>Auchenflower: $1.09 million</li>
<li>Balmoral: $1 million</li>
<li>Bulimba: $1.26 million</li>
<li>Chelmer: $1.08 million</li>
<li>Clayfield: $1.15 million</li>
<li>Fig Tree Pocket: $1.18 million</li>
<li>Hamilton: $1.19 million</li>
<li>Hawthorne: $1.2 million</li>
<li>Hendra: $1.02 million</li>
<li>Highgate Hill: $1.14 million</li>
<li>Kalinga: $1 million</li>
<li>New Farm: $1.4 million</li>
<li>Paddington: $1 million</li>
<li>St Lucia: $1.27 million</li>
<li>West End: $1.13 million</li>
<li>Wilston: $1.15 million</li>
</ol>
 
At the current rate of growth, around 32 per cent over the past year, and if market conditions remain static, Teneriffe will be Queensland's first $3 million suburb and this will happen in the next 12 months. This is not a sure thing, but it is a possibility. 
Queensland has the highest proportion of first-home buyers, with these new property seekers making up about 20 per cent of the buying population, according to ABS lending data. 
The unit market in Ipswich is more volatile. The market has grown 5.8 per cent over the past 12 months, to an annual median of $329,000, however suffered a quarterly loss of 20.3 per cent, reflecting slowing demand. 
 
 
</body></html>

jrobinson-rf4aSBido9

Beachfront markets lead Queensland price growth surge: REIQ

<html><body>
The REIQ is urging candidates for the Queensland state election next month to consider of the state’s biggest employers and one of the government’s largest single sources of revenue, the real estate sector. 
REIQ CEO Antonia Mercorella said the election offered voters an opportunity to cast a vote for a candidate who recognises the importance that the real estate sector plays in the state’s economy.
“Real estate employs around 50,000 Queenslanders and this makes it of huge significance to the future fortunes of Queensland," she said. 
“Improving the health of the sector is at stake and voters should keep this in mind when casting their votes on November 25."
Mercorella outlined three changes that should be made. 
FIRST HOME OWNER GRANT: The grant can help more young Queenslanders get their foot on the property ladder by being broadened to include all properties, established and new-builds. As it stands, only those first-home buyers who are building their first home or buying off-the-plan are eligible for the grant, which locks out thousands of equally-deserving young Queenslanders from the property market. Broadening the grant, especially in regional Queensland where take-up hasn’t been as strong due to the fact that it’s cheaper to buy an established home than to build new, will bring thousands of young Queenslanders to the property market, bringing buyers to oversupplied markets and helping those local economies. 
STAMP DUTY: The REIQ urges the Government to abolish stamp duty. This inefficient and disproportionate tax stymies housing mobility and delivers uneven revenue to the Government. When house prices are up, revenue is up, and when house prices are low the Government’s revenue is low. The Henry Tax Review in 2011 identified this onerous tax as one that should be replaced with a more efficient system and the REIQ echoes this well-founded view. This would give the industry a much-needed shot in the arm, giving those buyers a nudge who need to move but are putting it off for expense reasons. 
MANDATORY CPD: Consumer protection is at the heart of the REIQ’s push for the Government to introduce mandatory continuing professional development for all real estate practitioners. Our goal is to ensure real estate agents are as qualified, as educated and as professional as other professions that handle people’s wealth, such as accountants and solicitors. There is no legitimate reason to continue delaying introducing this measure. 
</body></html>

REIQ hopes for real estate sector improvements with state election looming

<html><body>
Brisbane, Gold Coast, and the Sunshine Coast continue to drive the property market growth in Queensland, according to a new report from the Real Estate Institute of Queensland.
The Brisbane LGA median house price grew 3.6 per cent in the 12 months to June, to reach a new high of $655,000, which demonstrates that affordability and amenity deliver consistent growth, says the latest REIQ Queensland Market Monitor.
In comparison, prices in Gold Coast surged 6.8 per cent over the 12 months to June, reaching an annual median house price of $595,000.
The Sunshine Coast SD grew 6.2 per cent over the year to June, to a median house price of $550,000.
REIQ CEO Antonia Mercorella said Queensland’s southeast corner once again stood out as the ideal housing market, delivering steady, sustainable growth.
“There is no denying the consistency of Greater Brisbane’s yearly median house price growth – we have grown steadily for about four years – which is proof that affordability combined with jobs and lifestyle are the recipe for a pretty close to perfect house market,” said Mercorella.
Capital city data, which looks at house prices to 31 May 2017, also clearly supports the case for Greater Brisbane compared with Greater Melbourne and Greater Sydney, according to the REIQ.
“Looking at Greater Brisbane compared with Greater Melbourne and Greater Sydney our median house price has grown 4 per cent to Melbourne’s 9 per cent and Sydney’s 6 per cent (for 12 months to 31 May) but as those markets start to cool people are naturally growing concerned about a potential correction.
“However, throughout the southeast corner, our growth is based on an improving value proposition, which means it is reliable, sustainable capital growth” she said.
The number of million-dollar suburbs held steady at 14 suburbs, with Auchenflower joining the club and replacing Paddington, which fell out of the club with a median of $994,050:
<ul>
<li>Ascot ($1,520,000)</li>
<li>Auchenflower ($1,055,000)</li>
<li>Bulimba ($1,110,000)</li>
<li>Chelmer ($1,035,000)</li>
<li>Clayfield ($1,075,000)</li>
<li>Fig Tree Pocket ($1,028,000)</li>
<li>Hamilton ($1,065,000)</li>
<li>Hawthorne ($1,200,000)</li>
<li>Highgate Hill ($1,141,119)</li>
<li>New Farm ($1,600,000)</li>
<li>Robertson ($1,078,000)</li>
<li>St Lucia ($1,255,000)</li>
<li>West End ($1,100,000)</li>
<li>Wilston ($1,200,000)</li>
</ul>
According to Corelogic RP Data, more than half (almost 56 per cent) of Sydney suburbs have a median house price of $1 million or more. By comparison, just 5.9 per cent of Brisbane suburbs have a median house price of more than $1 million.
Teneriffe remains Brisbane’s only $2 million suburb.
Brisbane LGA’s top five suburbs for annual median house price growth in the 12 months to June were:
 
<ol>
<li>Wilston (18.8%)</li>
<li>Auchenflower (19.2%)</li>
<li>Gaythorne (21.6%)</li>
<li>Ascot (21.6%)</li>
<li>St Lucia (21.8%)</li>
</ol>
 
Queensland’s top five suburbs for annual median house price growth in the 12 months to June were:
 
<ol>
<li>Woodend in Ipswich LGA (34.5%)</li>
<li>Murgon in South Burnett LGA (26.0%)</li>
<li>Clear Island Waters in Gold Coast LGA (24.0%)</li>
<li>Oonoonba in Townsville LGA (23.6%)</li>
<li>Sunshine Beach in Noosa Shire (23.1%)</li>
</ol>
 
The unit market performed with less strength this quarter, as weakening demand and continued supply issues deliver flat to negative growth throughout the state.
The standout suburbs where units performed well in Brisbane LGA were:
<ul>
<li>Norman Park (15.6%)</li>
<li>Highgate Hill (15.3%)</li>
<li>Mount Gravatt (14.4%)</li>
<li>East Brisbane (13.0%)</li>
<li>Annerley (10.1%)</li>
</ul>
However, regional Queensland did not perform as strongly this quarter, although Mackay was the stand-out as it delivered strong quarterly growth of 7.4 per cent and second consecutive fall in vacancy rates.
“This market is finally showing the positive impact that we have been seeing in other parts of the local economy,” Mercorella said.
“Mackay is a really positive town, with the housing market finally reaping some small uplift of what has been promising economic activity earlier this year.
“To be clear, however, the annual median house price eased by 5.6 per cent compared with this time last year, so we don’t want to overstate this result. There is still some way to go before this challenged market recovers its position.
“But, we are encouraged to see good quarterly growth and we are keenly awaiting next quarter’s results to see if this represents the green shoots of recovery,” Mercorella said.
The data revealed that Gladstone is Queensland’s most affordable unit market, with a median unit price of $218,750, while Rockhampton was the most affordable house market with a median house price of $270,500.
</body></html>

jonathanchancellor-7SQnKwU6yx

Brisbane house prices hit new high, Gold Coast surges in growth: REIQ

<html><body>
The REIQ quarterly rental vacancy rate data for the June quarter has revealed a tightening in inner Brisbane.
It also showed a tightening through much of regional Queensland, which the REIQ says indicates a recovery is "on the cards" in the state’s weaker markets.
The Brisbane LGA vacancy rate fell from 3.7 per cent in the March quarter to 3.3 per cent, moving from the weak to healthy range.
Inner Brisbane, which is overwhelmingly dominated by apartments, fell from its all-time high of 4.4 per cent in March to 3.5 per cent in the June quarter.
REIQ CEO Antonia Mercorella said Brisbane’s inner city tightening vacancy rate was a good indicator about the health of the market in the inner city.
“Brisbane’s inner city is showing resilience, with the balance of landlords and tenants relatively equal for the June quarter”.
“At 3.5 per cent, the REIQ classifies this market as healthy and this is when both tenants and landlords have reasonable expectations of their needs being met,” Ms Mercorella said.
“We know that the population growth and jobs in the southeast corner are, so far, sufficient to absorb the level of apartment supply coming onto the rental market.
“The market has an unswerving ability to self-correct. In the first quarter of 2015, 2300 new apartments came onto the market and in the first quarter of 2017, around 260 apartments came onto the market,” Ms Mercorella said.*
Brisbane’s middle ring (5-10km) remains a tighter rental market than the inner ring with a vacancy rate of 3.1 per cent, the same as the March quarter.
“The middle ring presents an affordable alternative to the inner ring and over the past six to nine months we’ve seen this ring tighten.”
<a href="https://www.propertyobserver.com.au/images/2017/07/26/Screen%20Shot%202017-07-26%20at%2011.52.03%20am.jpg" target="_blank">Click 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/2017/07/26/Screen%20Shot%202017-07-26%20at%2011.52.03%20am.jpg" alt="">
Elsewhere, the rental market, in most regions in Queensland, showed a similar trend.
Ipswich was one of the few markets that eased, moving from a tight market in March, with a vacancy rate of 2 per cent, to a healthy market in June with a vacancy rate of 3.1 per cent.
Other regions in Greater Brisbane – Logan, Moreton Bay and Redland – remain in the tight to healthy range.
Logan tightened from 2.8 to 2.2 per cent, moving from the healthy range into the tight range.
Moreton Bay eased fractionally, from 1.6 per cent to 1.7 per cent, but this is still very much a tight market. Redland eased a sliver, from 2.5 per cent to 2.6 per cent, which means it is still a healthy market, but only by a hair.
The Gold Coast (1.7 per cent) and the Sunshine Coast (1.2 per cent) remained tight, which means tenants will continue to find it challenging to secure rental accommodation. Noosa tightened from 4 per cent to 3 per cent and this means the market is healthy.
For a third consecutive quarter, Maroochydore was the tightest rental market in Queensland, reaching a vacancy rate of 1 per cent for June 2017.
Moving further north into our regional markets that have typically been weak markets for the past year or so, we see a general trend of tightening.
Toowoomba eased slightly, from 2.9 per cent to 3.2 per cent, however, this is still a healthy market. Construction work is still in plentiful supply in this region and it’s likely that the supply of accommodation (mostly units) has contributed to easing some of the tight conditions in this rental market.
Fraser Coast tightened from 3.9 per cent to 2.6 per cent. Hervey Bay tightened sharply from 4.2 per cent to 2.6 per cent.
<a href="https://www.propertyobserver.com.au/images/2017/07/26/Screen%20Shot%202017-07-26%20at%2011.52.13%20am.jpg" target="_blank">Click 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/2017/07/26/Screen%20Shot%202017-07-26%20at%2011.52.13%20am.jpg" alt="">
Bundaberg tightened from 4.6 per cent to 3.6 per cent, which is yet another good news sign that the economic fortunes of this coastal town are continuing to improve.
The Knauf plasterboard factory received its first delivery of gypsum last week, kickstarting production and contributing to employment of workers in the community.
Gladstone eased a sliver from March to June, with the vacancy rate at 6.5 per cent. This is good news because it confirms that last quarter’s dramatic tightening from 9.9 per cent in December to 6.4 per cent in March, was a genuine improving trend, rather than a brief outlier.
Mackay also sharply improved, dropping from 6.4 per cent in March to 4.5 per cent in June. Local agents have been telling this story for some time – workers are returning and jobs are on the rise in Mackay.
Rockhampton tightened from 8.6 per cent to 7.2 per cent which leaves the beef capital still in weak territory.
Townsville tightened from 6.2 per cent in March to 5 per cent in June. The Government focus on delivering jobs and major infrastructure projects, such as the new Cowboys Stadium, to the northern city is beginning to gain traction, with workers returning to the area hopeful of snapping up some of the many jobs on offer. 
Cairns remained steady at a tight 1.8 per cent. Rental property investments deliver some of the highest gross rental yields in the state and this market would benefit from additional rental stock on the market.
</body></html>

Queensland vacancy rates tighten as does Inner Brisbane vacancies

<html><body>
Listing volume for Fraser Coast unit market has jumped, according to REIQ’s latest Queensland Market Monitor quarterly report.
The quarterly median house prices are typically more volatile than annual median data and this is true of the Fraser Coast market, which revealed a quarterly growth figure this quarter of 2.5 per cent, compared with a fall of 2.3 per cent in the December quarter last year.
Looking at the more consistent 12-month median house price data, the Fraser Coast has held steady for the 12 months to March 2017.
This is consistent with the 12 months to December also, where no change was recorded.
And like the house market, the unit market also experienced volatile growth on a quarterly basis, with a fall of 10.7 per cent from December to March.
However, looking at the more reliable annual data the Fraser Coast unit market grew 1.2 per cent, from $247,000 in March 2016 to $250,000 in March 2017.
The Fraser Coast has become the region with the largest percentage of houses (13.5 per cent stock of market) and units (18.9 per cent stock of market) listed for sale for the 12 months to February 2017.
This region is suffering from a dearth of funded infrastructure and investment projects that proliferate throughout other regions in Queensland.
Good news on the horizon, however, with the proposed $300 million Colton Coal mine near Maryborough, which was granted three mining leases in early May.
Once the mine reaches operational stage, it is expected to create about 120 jobs for the region and boost economic development.
The Fraser Coast could also become the renewable energy capital of Queensland over the next five years.
The Eco Energy World Australia project proposes to build a $280 million renewable energy facility at Aramara.
This project is expected to generate 150 jobs during construction and 11 part-time jobs when operational.
The housing market has remained steady over the past 12 months, reporting an annual median sale price of $307,500 for the March quarter.
Over the medium term, the annual median sale price recorded a modest growth of 7.9 per cent from $285,000 for March 2012 to $307,500 for March 2017.
The largest volume of transactions was below $350,000.
The volume of sales remained relative steady in the September and December quarters.
Preliminary data shows a reduction in the number of sales over the March quarter.
<a href="https://www.propertyobserver.com.au/images/2017/06/16/Screen%20Shot%202017-06-16%20at%2011.09.05%20am.jpg" target="_blank">Click 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/2017/06/16/Screen%20Shot%202017-06-16%20at%2011.09.05%20am.jpg" alt="">
However, this is still subject to review to reach a meaningful conclusion.
Following the state-wide trend, listings increased in the Fraser Coast, up by 52.4 per cent from 3352 in February 2016 to 5107 in February 2017.
This resulted in a rise in the volume of stock on the market, up 4.6 percentage points to 13.5 per cent.
Median days on market and median vendor discounting recorded a modest improvement.
A house takes about 84 days to sell with a discount of 5.9 per cent for the 12 months to February 2017..
The annual median unit price increased 1.2 per cent, from $247,000 in March 2016 to $250,000 in March 2017.
Over the medium term (five years), the unit market has fallen 11.1 per cent with the annual median price dropping from $281,150 in March 2012 to $250,000 in March 2017.
The most active price range is for transactions below $250,000.
<a href="https://www.propertyobserver.com.au/images/2017/06/16/Screen%20Shot%202017-06-16%20at%2011.09.13%20am.jpg" target="_blank">Click 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/2017/06/16/Screen%20Shot%202017-06-16%20at%2011.09.13%20am.jpg" alt="">
The volume of sales increased 12.2 per cent over the December quarter, from 82 sales in September to 92 sales in December.
The listings volume jumped 73.6 per cent, from 497 to 863 for the past 12 months.
The amount of stock on the market rose to 18.9 per cent.
This positions the Fraser Coast as the region with the largest percentage of units for sale in Queensland.
Median days on market and median vendor discounting fell slightly over the past 12 months, reaching 87 days and 5.8 per cent in February 2017.
A two bedroom unit at <a href="https://www.realestate.com.au/property-unit-qld-pialba-123913050" target="_blank">9/63-65 Hillyard Street</a>, Pialba (above) has been listed from $230,000.
The property was last sold in 2007 for $192,500 and again in 1993 for $94,000.
Similarly a three bedroom unit at <a href="https://www.realestate.com.au/property-unit-qld-maryborough-125245114" target="_blank">6/268 Ellena Street</a>, Maryborough (below) has been listed for $199,000.
It last sold in 2007 for $200,000, in 2004 for $163,000 and in 1999 for $90,000.
<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/2017/06/16/6_268%20Ellena%20Street.jpg" alt="">
</body></html>

Unit listing volumes in Fraser Coast jumps

<html><body>
Mackay's housing market has had its second-largest annual housing median price fall, according to the REIQ'S Queensland Monitor Market's latest report.
Mackay reported the second-largest fall in the state’s annual median price, falling 8.7 percent from $345,000 in March 2016 to $315,000 this quarter.
Over five years the fall has been 24.6 percent, from $418,000 in 2012.
Sales volumes increased from 256 over the September quarter to 311 over the December quarter.
Listings have also increased, up by 40.5 percent, effectively preventing rising demand from putting upward pressure on prices.
Listings bumped up from 2372 listings in February 2016 to 3332 listings in February 2017.
The increasing number of listings has eliminated the benefits from the increasing demand of housing.
In contrast to other areas in regional Queensland, median days on market and median vendor discounting improved for the 12 months to February 2017.
<a href="https://www.propertyobserver.com.au/images/2017/06/20/Screen%20Shot%202017-06-20%20at%201.20.24%20pm.jpg" target="_blank">Click 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/2017/06/20/Screen%20Shot%202017-06-20%20at%201.20.24%20pm.jpg" alt="">
Median days on market reduced from 81 days in February 2016 to 69 days on February 2017, and, median vendor discounting reduced from 10.7 per cent to 9.8 per cent for the 12 months to February 2017.
This is a clear indication that demand is increasing and vendors are having more realistic price expectations.
For a fourth consecutive quarter, the median sale price for units followed a downward trend triggering a reduction in the annual median sale price of 14.6 per cent, from $266,500 in March 2016 to $217,500 for March 2017.
This compared with the median sale price of $325,000 five years ago in March 2012.
The most active price range for units is for transactions below $250,000.
The volume of transactions in Mackay has increased by 75.8 per cent from 33 sales in September to 58 sales in December.
The size of the unit market remains very small, which adds a level of complexity and challenges to a market where the number of listings increased by 57.5 per cent for the 12 months to February 2017.
<a href="https://www.propertyobserver.com.au/images/2017/06/20/Screen%20Shot%202017-06-20%20at%201.20.32%20pm.jpg" target="_blank">Click 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/2017/06/20/Screen%20Shot%202017-06-20%20at%201.20.32%20pm.jpg" alt="">
The market trend indicators to February 2017 position Mackay as the region with the longest median days on market (133 days or more than four months) and the highest vendor discounting (13.9 per cent).
The rental market in Mackay is weak, although the vacancy rate tightened from 7.9 per cent to 6.4 per cent in March.
Local agents indicated that vacant properties usually receive only one rental application and tenants have their choice of available properties.
The weekly median rent over the March quarter held steady or increased for three-bedroom houses, three-bedroom townhouses and two-bedroom units.
This was just the reflection of a stronger rental demand over the first quarter of the year.
<a href="https://www.propertyobserver.com.au/images/2017/06/22/Screen%20Shot%202017-06-22%20at%2012.58.42%20PM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/22/Screen%20Shot%202017-06-22%20at%2012.58.42%20PM.png" alt="">
When assessing the 12-month trend for weekly median rents, three-bedroom houses and three-bedroom townhouses have followed a downward trend while two-bedroom units remained steady.
<a href="https://www.propertyobserver.com.au/images/2017/06/22/Screen%20Shot%202017-06-22%20at%2012.57.26%20PM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/22/Screen%20Shot%202017-06-22%20at%2012.57.26%20PM.png" alt="">
This demonstrates the long- term challenges experienced by the rental market in Mackay.
</body></html>

Mackay's housing median price sees second-largest annual fall

<html><body>
The March quarter has brought Brisbane LGA’s first $2 million suburb, as Teneriffe reached a median house price of $2.075 million, and a record number of $1 million-plus suburbs as 15 suburbs (including Teneriffe) hit the median milestone, up from 10 suburbs in the December quarter.
House prices annually have grown 4 per cent in Brisbane LGA, taking the annual median to $650,000.
REIQ CEO Antonia Mercorella said the Brisbane house market had once again proven itself to be a solid performer.
“This market consistently performs well for property owners, while maintaining its affordable status,” she said.
“Brisbane now has its first $2 million suburb with Teneriffe, but compare this with Sydney, which has more than a dozen, possibly up to 14 suburbs with a median house price of $2 million or more.”
Looking at the five-year trend, from March 2012 when the median house price was $509,999, the Brisbane LGA median house price has grown 27.5 per cent.
The quarterly house price eased, with the median contracting 2.9 per cent to $642,000.
Brisbane LGA welcomed 15 suburbs to the million-dollar annual median suburb list in March quarter:
<ul>
<li>Ascot ($1,412,500)</li>
<li>Bulimba ($1,150,000)</li>
<li>Chelmer ($1,053,000)</li>
<li>Clayfield ($1,050,000)</li>
<li>Fig Tree Pocket ($1,050,000)</li>
<li>Hamilton ($1,165,000)</li>
<li>Hawthorne ($1,200,000)</li>
<li>Highgate Hill ($1,162,500)</li>
<li>New Farm ($1,615,000)</li>
<li>Paddington ($1,005,000)</li>
<li>Robertson ($1,077,000)</li>
<li>St Lucia ($1,185,000)</li>
<li>Teneriffe ($2,075,000)</li>
<li>West End ($1,080,000)</li>
<li>Wilston ($1,150,000)</li>
</ul>
A three bedroom house at <a href="https://www.realestate.com.au/property-house-qld-hawthorne-125604306" target="_blank">42 Orchard Street</a>, Hawthorne (above) has been listed for between $1 million to $1.1 million.
It was last sold in 2008 for $658,000 and again in 2006 for $560,000.
Similarly a five bedroom house at <a href="https://www.realestate.com.au/property-house-qld-bulimba-125420270" target="_blank">24 Addison Avenue</a>, Bulimba (below) has been listed for over $1.47 million.
It was last sold in 2010 for $1.5 million and again in 2006 for $1.35 million.
<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/2017/06/16/24%20Addison%20Avenue.jpg" alt="">
The unit market over the past 12 months has begun to show signs of easing, with the annual median unit price falling 1.9 per cent to $445,000.
However, that slight easing doesn’t represent the whole story for Brisbane’s unit and townhouse market.
<a href="https://www.propertyobserver.com.au/images/2017/06/15/Screen%20Shot%202017-06-15%20at%201.35.39%20pm.jpg" target="_blank">Click 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/2017/06/15/Screen%20Shot%202017-06-15%20at%201.35.39%20pm.jpg" alt="">
There are suburbs that have done well this quarter, including Albion (up 5 per cent since December), Bulimba (up 26.8 per cent this quarter), Indooroopilly (up 18.5 per cent), New Farm (up 7.5 per cent), Rochedale (21.1 per cent), Taringa (4.8 per cent) and Toowoong (up 3.2 per cent since December).  
Brisbane LGA suburbs where units have done well over 12 months and five years include:
<ul>
<li>Annerley</li>
<li>Balmoral</li>
<li>Bridgeman Downs</li>
<li>Coopers Plains</li>
<li>Coorparoo</li>
<li>Darra</li>
<li>Greenslopes</li>
<li>Highgate Hill</li>
<li>Manly</li>
<li>Manly West</li>
<li>Mount Gravatt</li>
<li>Norman Park</li>
<li>Red Hill</li>
<li>Richlands</li>
<li>Rochedale</li>
<li>Toowong</li>
<li>Wakerley</li>
<li>Wynnum</li>
</ul>
Units are becoming more popular with Queenslanders. CoreLogic has reported that 17 per cent of Queenslanders live in an apartment, just behind New South Wales’ 22 per cent and ahead of Victoria’s 15 per cent.
“The REIQ is confident the long-term future of apartments is secure and particularly in the inner-city where such exciting projects as Queen’s Wharf and the Howard Smith Wharves are adding to the night-time economy of inner Brisbane,” she said.
“Added to South Bank, Milton’s Caxton Street and the Barracks, the West End, and Eat Street Markets, this is a diverse and vibrant inner-city and the demand for inner-city apartments will continue to grow over time,” Ms Mercorella said.
</body></html>

Brisbane welcomes $2 million suburb, record $1 million suburbs

<html><body>
Brisbane’s inner-city vacancy rate dropped to 4.4 percent in the March quarter, with regional Queensland also showing strong improvement, according to new data from the REIQ.
Antonia Mercorella, REIQ CEO said it is the normal cyclical nature of property – demand builds to a point where pressure triggers the increase of supply.
“The 2016 Census revealed that Queensland has moved from about 30 per cent of our population renting to about 50 per cent now renting and we can conclude that rental accommodation will always be in demand,” she said.
“Then supply starts to build and keeps going until we see that that demand has been met. Typically, supply will briefly outstrip demand before easing back and then demand will start to build again and so the cycle goes.”
<a href="https://www.propertyobserver.com.au/images/2017/05/10/rsz_rates1final.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/10/rsz_rates1final.png" alt="">
In the Brisbane LGA ,the 5-20km ring, vacancies tightened from 3.3 percent to 3.1 percent.
In Greater Brisbane, across Ipswich, Logan and Moreton Bay vacancies all tightened.
Antonia Mercorella said the housing market in regional Queensland is closely tied to these two industries and we can see that workers are being attracted back to these cities with the tightening of vacancy rate figures.
<a href="https://www.propertyobserver.com.au/images/2017/05/10/rsz_rates2.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/10/rsz_rates2.png" alt="">
Gladstone was the star performer in the March quarter data, falling 3.5 percentage points to 6.4 percent, its lowest vacancy rate since June quarter 2015.
Mackay fell 1.5 percentage points from 7.9 percent to 6.4 percent, its lowest level since September 2013.
Townsville fell 0.2 percentage points to 6.2 percent, the lowest vacancy rate since March 2016.
Toowoomba moved from 2.8 percent to 2.9 percent.
Pine Rivers at Moreton Bay is the tightest rental market in the state at 1.3 percent.
</body></html>

Brisbane’s March quarter inner-city vacancy rate at 4.4 percent

<html><body>
The Fraser Coast market move from robust to challenged, according to REIQ's latest report.
The Fraser Coast median house price fell 2.3% for the quarter, to $303,000 and over the past 12 months it has demonstrated zero growth (and no contraction either).
Five years ago the annual median house price was $285,000 which means it has grown 7% over five years.
The unit market in the Fraser Coast is very small, with just 52 sales this quarter.
The median unit price fell in the December quarter, by 6.7%, to $230,000 and this makes it one of the most affordable markets in Queensland.
Only Cairns, Mackay and Gladstone have more affordable unit markets.
A four bedroom house at <a href="https://www.realestate.com.au/property-house-qld-maryborough-125079898" target="_blank">36 Panorama Drive</a>, Maryborough (above) has been listed for $305,000.
Similarly a three bedroom house at <a href="https://www.realestate.com.au/property-house-qld-river+heads-123939458" target="_blank">1 Fraser Drive</a>, River Heads (below) has been listed for $300,000.
<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/2017/03/28/1%20Fraser%20Drive.jpg" alt="">
</body></html>

Reiq

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Reiq

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News