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

Residential Land

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Sydney-based developer Lendlease has secured 1,100 residential lots in the recently approved Pakenham East precinct structure plan (PSP), south-east of Melbourne.

The deal, brokered by Core Projects’ Kane Malcomson and Trent Malcomson, will see an 83-hectare cattle farm transformed into a new masterplanned community.

Located across three titles, the project includes an 11-hectare park with extensive waterways and is close to the future town centre.

“I am delighted to have worked with one of Australia’s leading developers, Lendlease, to broker this deal”, Kane Malcomson said. “Core Projects’ depth of understanding of Melbourne’s South-Eastern growth corridors has helped facilitate a mutually beneficial deal for both developer and landowner and we are proud to be growing our footprint in this region.”

The approval of the new Pakenham East PSP will further fuel growth of Melbourne’s south-east, with proposed plans including future schools, parklands, child services and a range of other facilities.

Melbourne’s south-east has seen immense growth in the past two years with demand for property in the region expected to continue. 
 

<h2>Other masterplanned communities in Victoria on the market right now</h2>

Alongside green spaces, amenities and often affordable entry prices, masterplanned communities offer a great option for first home buyers and families looking to upsize.

Urban takes a look at three townhomes on the market right now, situated within masterplanned communities. 
 

1. Tullamore Homes, Doncaster 
Address: 11 Heritage Boulevard, Doncaster VIC 3108 
Four-bedroom townhomes from $1,450,000

[smartcode_project:default project_id=22803]

Mirvac’s Tullamore homes offers spacious, contemporary residences ideal for family living, situated just 17-kilometres from Melbourne’s CBD.

Set on the former Eastern Golf Course, the development boasts four-bedroom townhomes with views of the nature reserve and a six-star environmental rating. 
 

2. The Terraces at Minta, Berwick 
Address: Soldiers Road, Berwick VIC 3806 
Three-bedroom townhomes from $529,000

[smartcode_project:default project_id=27487]

Also located in Melbourne’s growing south-east is <a href="/developers/stockland">Stockland</a>’s latest project, the Terraces at Minta. Targeted towards first home buyers, Minta residences offer high-quality design at an affordable price.

Each of the double-storey homes include secure car garages, double glazing, high ceilings and garden landscaping, as well as open-plan living and dining and a fully-fenced garden patio. 
 

3. The Grove Estate, Tarneit 
Address: 180 Davis Road, Tarneit VIC 3029 
Four-bedroom townhomes from $583,755

[smartcode_project:default project_id=28210]

Bordered by both the Davis Creek and Werribee River waterways, the Grove Estate boasts three and four-bedroom townhomes set in a picturesque community setting.

Surrounded by walkable parkland, wetlands and growing town centres, the Grove offers a family-friendly lifestyle with distinct neighbourhoods and a well-established community.
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Purchasing an 83-hectare cattle farm, across three titles, Lendlease hopes to transform the site into a new masterplanned community in Pakenham. 

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Lendlease secures 1,100 residential lots for new Melbourne masterplanned community

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Demand for residential land around Sydney has soared over the last six months, according to independent valuer and advisor m3property.
They say the reduced cost of debt, easier access to finance, smaller lots, and apartment market woes have been behind a noticeable pick up in demand for Sydney residential land in the last six months.
There was also a marginal price increase in the six months to June.
M3property's latest market report, Sydney Land Market Recovery, found land take-up had increased dramatically since the Federal election.
Jennifer Williams, national director of research, at m3property, said while take-up rates for land had averaged zero to two lot sales per month over the period September 2018 to May 2019, post-election take-up had accelerated to three to four lots per month and, in Sydney’s growth regions, six to eight lots per month according to proximity to railway stations.
"The take-up rate has accelerated markedly since May and there are a number of factors at play, not the least being the typical pre-election market paralysis and an election campaign characterised by much debate about housing issues including negative gearing and affordability," Williams said.
"Since the election APRA’s removal of the 7 per cent serviceability cap on residential home loans and the fall in the official cash rate from 1.5 per cent to 0.75 per cent have aided the borrowing power of most applicants.
Williams suggested smaller, and more affordable, lot sizes of 250 to 300 sqqm – lot sizes averaged 454 sqm at June 2019 - pent up demand, and an increase in the median Sydney house price, had also been drivers of a general market uptick, which had seen a modest land price rise over the first half of 2019 of 0.94 per cent.
Associate director residential development at m3property Ben Toole said negative apartment market publicity had also been behind some owner-occupiers’ decisions around a new preference for houses as a safer alternative.
"The cladding and construction flaws issues have been major negatives for the apartment market and not surprisingly those issues have affected consumer sentiment around what is, for most people, the biggest investment they will ever make.
"I have no doubt the apartment market will recover but for now it is one of a number of factors behind a significant resurgence in the take-up of land in Sydney,’’ Toole added.   
He said while the rate of take-up had been highest for land in close proximity (two kms) of existing railway stations, the rate of sales was also dependent on developer reputation, the size of the subdivision, choice of lots and the stage of subdivision development.
Toole said there was still room for growth – take-up rates remain below levels reached in 2016 and 2017 – and particularly in areas where infrastructure was at the most advanced levels.
<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/2019/11/27/Sydney%20land%20values.jpg" alt="">
"The North West Growth Region has seen greater demand than the South West due to established transport services, including the introduction of the new Northwest Sydney Metro, while areas such as Box Hill, Schofields (Pictured top, the <a href="/news/clear-skies-ahead-for-akuna-vista-development-at-schofields-aerodrome">Akuna Vista development</a>) and Marsden Park have seen higher sales rates and higher prices due to both a greater number of estates and more completed estates.
"While overall price points in the South West are slightly lower than the North West, areas such as Leppington and Austral are achieving higher price points due to the Leppington railway line,’’ Toole said.
The report found Greater Sydney was likely to see an undersupply of dwellings over the next five years based on the Department of Planning, Industry and Environment’s forecast of the completion of 191,550 dwellings over the five years from 2018/19 to 2022/23.
The numbers equate to 38,300 homes per year, a significant 22 per cent rise on the previous five years when 157,250 new homes were completed, but less than the required 39,600 houses per year should the average household size in greater Sydney remain at the same level as the last Census, Jennifer Williams said.
"If the 198,030 additional houses are required, as an extrapolation of the Census data suggests, then Greater Sydney is likely to see an undersupply of dwellings over the next five years. 
"This is likely to result in a continued reduction of lot sizes in the Sydney region and increased lot prices over the five-year outlook,’’ Williams said.
 
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North West and South West Sydney lead pick up in residential land demand

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The cost of land is one of the main components in determining the price of a new home, according to HIA Economist Angela Lillicrap.
The recent HIA-CoreLogic Residential Land Report provided updated information on sales activity in 46 markets across Australia, including the six state capital cities.
“While land prices have come down during 2019, over the last decade the price of new residential land per square metre in Sydney has doubled and more than doubled in Melbourne,” added Ms Lillicrap.
“A shortage of land is one of the factors that has driven home prices to increase over the past decade. The process of making land ‘shovel ready’ can often last a decade, therefore, responding to shortages cannot be met with increased supply in the short term. An adequate supply of land is required to avoid a deterioration in affordability.
“If the Australian dream of home ownership is to remain achievable, governments must work with industry to ensure that there is an appropriate supply of land. Improving the monitoring and reporting of the land supply pipeline will enable government and industry to make well informed decisions,” concluded Ms Lillicrap.
CoreLogic’s head of research, Tim Lawless, highlighted that land values had slumped across the most expensive markets over the past year. 
“The rate per square metre of vacant land in Sydney was down 12.6% over the 12 months ending June 2019 and Melbourne land prices were down 7.6%. 
Prices were also down in Adelaide (-12.0%) and Brisbane (-4.6%). 
Lower land prices should provide further support for housing affordability in these markets, however in Hobart and Perth land prices were higher.
“Hobart land prices have rocketed 20.3% higher over the year ending June reflecting tight supply against a backdrop of strong demand. 
"Despite the significant rise, Hobart is still showing the lowest median land price amongst the capital cities at $180,000 and the largest median land area at 624sqm.”
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Sydney vacant land rate per square metre down 12.6% annually: HIA

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The 410 sqm Surrey Hills block, occupied by a scout hall, failed to raise any interest at its weekend auction.
<a href="https://fletchers.net.au/24154/7-robinson-road-surrey-hills" target="_blank">The 7 Robinson Road holding</a> has been listed now at $1.38 million.
It had been listed by David Taylor and John Taylor from Fletchers Canterbury with a price guide of $1.3 million to $1.4 million. 
Scouts Victoria bought the property in 1955 and built the hall. 
The wide frontage block at 7 Robinson Road offers the potential to create a low maintenance home on its own title. 
<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/2019/6/13/scout%20hall%202.jpg" alt="">
Situated between Chatham and Surrey Hills Stations, it's within walking distance to Surrey Hills Village shops, supermarket, cafes plus nearby Canterbury Sports Ground and Chatham Primary School. 
 
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1st Boroondara Scout Hall, Surrey Hills fails to sell

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EXPERT OBSERVER
As Melbourne’s record population growth continues unabated, so too does a property revolution in the urban-regional perimeter surrounding the city.
Recent years has seen Victoria’s regional and peri-urban markets evolve to be increasingly similar to the rest of metropolitan Melbourne, with trends observed in the city becoming more pronounced on its perimeter as a range of factors reshape market relationships.
These include population growth, declines in affordability, changing patterns of employment, new infrastructure and the level of maturity (or how established a market is).
By comparing price and land size trends in metropolitan Melbourne and several key regional and peri-urban markets (including those in the Greater Geelong, Surf Coast, Moorabool and Baw Baw municipalities), we can identify current and emerging trends that can provide developers and property buyers with superior insights.
Recent data suggests that over the past few years there has been a significant change in the relativities between prices and sizes across different land markets with prices generally rising faster in metropolitan and large regional cities, while reductions in land sizes generally were greater in peri-urban markets.
To enlarge, <a href="https://www.propertyobserver.com.au/images/2019/6/20/HUME1.jpg" target="_blank">click here</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/2019/6/20/HUME1.jpg" alt="">
For example, median prices rose strongly in metropolitan Melbourne (57 per cent) and Greater Geelong (51 per cent) over the period 2014 to 2019.
In Geelong’s case (and the Surf Coast to an extent), strong price growth has been driven by increased integration with Melbourne’s western region (especially the Wyndham and Melton municipalities) and significant improvements in transport connectivity between Melbourne and Geelong.
Peri-urban and regional locations such as the Moorabool (mostly Bacchus Marsh) and Baw Baw (mostly Warragul) municipalities experienced lower, but still significant, price growth of 38 per cent and 34 per cent respectively relative to metropolitan. 
To enlarge, <a href="https://www.propertyobserver.com.au/images/2019/6/20/HUME2.jpg" target="_blank">click here</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/2019/6/20/HUME2.jpg" alt="">
Price growth for peri-urban areas was also higher than traditionally has been the case due primarily to these locations’ increased integration with metropolitan Melbourne and higher population growth.
Although forecasting prices is difficult, we could expect price growth of at least this magnitude, if not higher, in the future as these locations becoming increasingly integrated with Melbourne.
In markets with generally larger lots (especially peri-urban areas which are also less mature and established), the adjustment process has been via a relatively sharper reduction in land sizes (compared to prices).
To enlarge, <a href="https://www.propertyobserver.com.au/images/2019/6/20/HUME3.jpg" target="_blank">click here</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/2019/6/20/HUME3.jpg" alt="">
For example, the median lot size declined by 18 per cent in Moorabool and 19 per cent in Baw Baw from 2014 to 2019.  This was greater than the decline observed in metropolitan Melbourne, Greater Geelong and the Surf Coast.
Looking ahead, we expect to see further reductions in lot sizes across all markets, with peri-urban markets potentially seeing the greatest decrease as markets converge.
However, while the fundamentals are in place for continued land price increases in key metropolitan and regional city markets over the medium to long-term, peri-urban markets might also exhibit greater price growth than they have in past as they converge with other markets.
George Bougias is the national head of research at Oliver Hume.
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jrobinson-rf4aSBido9

The regional and peri-urban revolution in Victorian land markets: Oliver Hume

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A 410 square metre Surrey Hills block, occupied by a scout hall, will go under the hammer on June 22.
It has been listed by David Taylor and John Taylor from Fletchers Canterbury with a price guide of $1.3 million to $1.4 million. 
The wide frontage block at 7 Robinson Road offers the potential to create a low maintenance home on its own title. 
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Situated between Chatham and Surrey Hills Stations, it's within walking distance to Surrey Hills Village shops, supermarket, cafes plus nearby Canterbury Sports Ground and Chatham Primary School. 
Scouts Victoria bought the property in 1955 and built the hall. 
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Surrey Hills scout hall to go under the hammer

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A 100-acre parcel of waterfront land on the edge of Tea Gardens with views over Port Stephens has been listed for sale.
It has been offered by Ivy Stevenson and Bryan Stevenson from Century 21.
Boasting just over 1 kilometre of water frontage, it features direct access to the waters of Port Stephens.
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Situated at<a href="https://www.propertyobserver.com.au/https://www.century21.com.au/property/residential/buy/nsw/2324/tea-gardens/445766" target="_blank"> Lot 42 Bayview Road, Tea Gardens,</a> the land is within minutes of the towns of Tea Gardens and Hawks Nest.
Presently this land is unimproved, so will require some clearing and access roads.
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Tea Gardens, Port Stephens waterfront property on the market 

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AVID Property Group (AVID) has announced a new $25 million, 205-lot residential project in Melbourne's south-eastern growth suburb of Officer. 
The site will be AVID’s third residential community in Victoria, with the developer currently constructing the $1 billion, 1,658-lot master-planned community in Bloomdale, Diggers Rest and the 619-lot residential community Savana in Wyndham Vale. 
AVID Victoria general manager Peter Vlitas (below with development manager Chris Ravat) said the acquisition forms part of AVID’s ambitious national growth strategy, supporting its goal to triple the company’s size and value by 2021. 
“AVID’s new Officer development will be our next project in the highly sought-after south-eastern growth corridor, just 50kms from Melbourne’s CBD,” Vlitas said. 
“With all planning permits already in place, construction is set to commence quite quickly in early 2019.
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“Officer is well-placed to meet demand for the booming population of both Melbourne and nearby Dandenong CBD, creating more job opportunities and a wide range of housing options in the area.” 
“This acquisition is just another step forward for AVID, playing towards our company ambition to expand our residential portfolio and geographic footprint across the eastern seaboard,” he said. 
The Officer development will offer buyers a choice in lot sizes ranging from 200m2 to 550m2 and will feature a prominent one-hectare central park. 
“The south-east corridor has long been a very popular location for families to move to, offering growth, education and employment opportunities all located within a really beautiful location,” Vlitas said. 
“With four established schools located within a 100-metre radius and a further four in the surrounding vicinity, plus the metro train station and future Officer Town Centre only minutes from the site, Officer is an attractive choice for buyers looking for a good selection of facilities and local amenities.” 
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AVID Property Group announce new $25 million Melbourne residential project

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A block of land that contains an 1850 homestead/shed at Tea Tree, Tasmania has been sold for $175,000.
Located at <a href="https://www.realestate.com.au/sold/property-residential+land-tas-tea+tree-201690074" target="_blank">233 Grices Road</a>, Langtoft is a 10 hectare block of land with the majority being semi-improved pasture subdivided into two paddocks.
The land features a fire damaged 1850s sandstone homestead along with a shingle roofed slab hut originally used as a forge, and large elms from the same era.
Tea Tree is above the average demand for properties in Tasmania with a higher average of people visiting the area than the state average.
It has been marketed as of interest to those seeking a rural lifestyle within 30 minutes of both eastern and western shores of Hobart.
The property was offered through Knight Frank agent Michael Crisp.
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Tea Tree land with 1850 homestead/shed sold for $175,000

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A residential development space in the Sunshine Coast region of Palmwoods has been sold to a local developer.
The 18 hectare block sold for $4.4 million to Sunshine Beach Constructions.
The 50 Abbots Road, Palmwoods property has been approved for 109 lots with a rate of $40,367 per lot.
The sale was handled by Colliers International’s Bayden Dodds and Savills’ Dustin Welch,
Dodds said the strength of the Sunshine Coast residential market contributed to interest from a mix of local, south-east Queensland and interstate developers.
"This is due to new land releases selling out in record time as builders, owner occupiers and investors seek to secure suitable housing lots," said Dodds.
"The Sunshine Coast market has trended towards smaller lot sizes in recent times and the large residential housing lots are becoming a rare commodity.
"This was a key attractor for developers with the average lot size of 725 square metres seen as a real advantage in the market."
 
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