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

Terry Ryder

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A media release this week was positively gushing in its eulogy of the Brisbane inner city apartment market. Sales are surging, it said, and the level of new construction in the pipeline was a cause for celebration. The market, apparently, “continues to shine”.
From where I’m sitting, sales are not surging and the new construction – 14 new projects with 1,400 apartments were launched in the June quarter alone - will make worse an existing oversupply.
The thing is, the people building, promoting and selling apartments are concerned only about finding buyers. They’re not interested in the broader consequences of the projects that are earning them money.
If the apartments in the current project sell, they pocket the profits and commissions, and move on to the next one.
Others have to deal with the carnage created by their projects. And there will be repercussions from the overbuilding of apartments in Brisbane.
The situation in the Brisbane inner city market is not (yet) as serious as that in Melbourne, where the existing oversupply is serious and the future oversupply will border on catastrophic.
But Brisbane is heading down the same slippery slope to surplus as Melbourne.
In Brisbane, as in Melbourne, Sydney, the Gold Coast and other major unit markets, the inspiration for the high level of new building is the Chinese investment market. Everyone is targeting Chinese investors.
Developers and their marketing stooges don’t care about the vacancy rate figures. That’s someone else’s problem. If they can flog their apartments to Asian buyers, nothing else needs to be considered.
The people who will feel the most pain in the future will be the investor buyers. High vacancies will push down rents and the returns they will earn from their investment. That in turn will undermine values.
Others will suffer. Owners of existing properties in or near the inner city will also find it hard to tenant their properties and will have to cut rents. Their values will fall also. Home owners in those areas will be equally affected by falling values.
Overbuilding is a constant and recurrent problem in inner city apartment markets. It’s the reason capital growth rates have been so poor in Brisbane.
The average annual rise in the median unit price in the Brisbane CBD has been around 3% per year over the past five years and also the past 10 years. In real terms, capital growth has been negligible at best.
Suburbs just outside the CBD, including Kangaroo Point, Fortitude Valley and South Brisbane, have similar track records.
This week’s media release claims sales are now “surging” in the Brisbane inner city apartment market. Not according to the sales data I’m seeing. Sales levels did rise last year, with every quarter producing an increase in sales volumes. But the market peaked in the December 2013 quarter and sales activity has declined in 2014.
That probably explains why there has been little price growth in evidence recently. According to Australian Property Monitors data, there was no change to median prices in the CBD and Woolloongabba in the most recent quarter, a rise of about 1% in Fortitude Valley and South Brisbane, and a 4% decrease in Kangaroo Point.
The real issue is that the Brisbane inner city areas already have too many apartments. The CBD and the near city suburbs all have vacancy rates in the 3.5% to 4.5% range. Those vacancy levels would not cause undue concern, except that massive levels of new supply are in the pipeline.
The writer of this week’s media release was clearly excited about the new projects coming up. It scoffed as the “predictable murmurings” about oversupply. But the concerns are real and well-placed. Dozens of new highrise apartment buildings are under construction or in planning, bringing thousands of new units to an oversupplied market.
There’s been a lot of media about the potential for prices to fall because of a “bubble”. There is no bubble in Australian property prices but there is a real threat of value decline in many major markets caused by developer overbuilding.
We’ve seen many times in the recent past how much damage oversupply can do and how much angst it can cause to property owners, including both investors and home owners, when values fall.
The Gold Coast has just emerged from years of falling property values - many people own properties worth less than they paid four or five years ago. The median unit price in Surfers Paradise is still lower than it was in 2009.
Owners of property in Gladstone have suffered double-digit value losses, not because of a decline in demand but because of absurd levels of overbuilding by developers. What were they thinking?
Where overbuilding has coincided with a sharp drop in demand because of a pause in the resources sector, values have dropped as much as 40% from their peak levels, including in Karratha in Western Australia and Moranbah in Queensland.
Inner city apartment markets, including those in Brisbane, face the same risk.
I’m not sure what the solution is, with councils and state governments eager to approve anything that’s proposed and trumpet the outcomes as a construction boom benefiting everyone. Until Chinese investors realise they’re being sold over-priced apartments for which there is little or no tenancy demand, developers will continue throwing up high-rise in inner Brisbane and elsewhere.
The outcome, in some places at least, will be a market crash that will be ugly to behold.
I’m urging investors and owner-occupiers to stay well away from these markets.
You can contact Terry via <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> or <a href="https://twitter.com/hotspotting" target="_blank">Twitter</a>. 
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terryryder-YECXbqmri2

Brisbane on the slippery slope to oversupply

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The latest research data confirms our tip, at the start of the year, that Busselton was likely to be a market leader in regional Western Australia.
The Real Estate Institute of WA says the Busselton area has been the state’s best-performing property market over the past 12 months, with almost 500 house sales which lifted the median price by around $25,000 to $450,000.
This is generally in line with price data from Australian Property Monitors, which records double-digit growth in median house prices in several of the suburbs of the City of Busselton, including <a href="/news">Geographe</a>, <a href="/news">Dunsborough</a> and <a href="/news">Quindalup</a>.
Busselton caught our eye because we saw it as part of a national trend. Coastal centres traditionally based on tourism and retirement are diversifying, with greater spending on infrastructure. Cairns and the Sunshine Coast in Queensland and Port Macquarie in New South Wales are other examples.
Current infrastructure events impacting Busselton include a $120 million hospital upgrade, an $85 million airport upgrade and $45 million in spending on a Busselton Foreshore master plan.
Chairman of REIWA’s Busselton branch, Joe White, says Busselton is no longer seen as just a “seaside holiday town”. It has experienced growth with young families and FIFO workers choosing to stay “rather than use the market as a stepping stone”.
He says: “The volumes and consistency of non-seasonal sales show the market is alive and building activity is high as the population grows. It’s cheaper to build a new home here than in Perth and the infrastructure gets better all the time, with schools and shops all within proximity to a great beachfront with a village atmosphere.
“The Forest Highway means Perth is now half an hour closer and people don’t mind the two and a half hour drive up to the city on occasions for cultural or sporting events because it’s a small price to pay to enjoy Busselton’s coastal lifestyle.”
It says a lot of about current events in the WA economy that the state’s regional markets showing price growth are all south of Perth, a long way from the key resources areas. Other locations to record growth in the past 12 months, according to the REIWA, are Mandurah, Bunbury and Albany.
At the other end of the scale, markets in significant decline include Karratha and Port Hedland, both places that have experienced exponential price and rental growth in the past, thanks to their links to the resources sector.
“Karratha suffered the biggest blow, dropping 12.2% and pulling its median price to $630,000,” the REIWA said.
Karratha prices are now 40% below the levels of early 2012. Rents have also fallen sharply, so that typical yields are now 6-7%, compared to 10-12% in more buoyant times. In better times, the Karratha market was turning over 50 to 60 properties per quarter, but currently sales levels are around 25 per quarter.
Vacancies went as high as 8%, but have recently declined to around 4%, so perhaps the worst is over for Karratha.
REIWA’s Karratha branch chairman, Richard Naulls, says the market has stabilised since July. With investors no longer interested, owner occupiers are now the mainstay of the market.
“Around 90% of buyers this year have been owner-occupiers, partly due to investors lacking confidence due to the significant reduction in rents, but mainly because housing has become much more affordable,” he says. “With a high number of properties available under $500,000 this stock is moving.”
Naulls says 2015 is likely to be stable, with prices and turnover at current levels.
“If any significant construction or project announcements are made during 2015 there will be a slight increase in prices - but due to the high number of properties for sale and rent, as well as plenty of land, I can’t see prices or rents reaching the previous peaks,” he says.
The REIWA reports a 7.6% decrease in the median price for Port Hedland, although Australian Property Monitors reports a 26% reduction. Both sources, however, record a median price around $800,000. Long gone are the days when the median was about $1.2 million.
Also long gone are the double-digit rental returns. More typical today is 6-7%. Vacancies are above 6% and have been hovering around those levels for almost two years.
The hard reality for Port Hedland is that prices are still too high. Places like Busselton, at half the price, offer far better value and growth prospects.
TERRY RYDER is the founder of <a href="https://hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> him or contact him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter</a>. 
Picture courtesy of  <a href="https://commons.wikimedia.org/wiki/User:Gobeirne" target="_blank" title="User:Gobeirne">Greg O'Beirne</a>/<a class="mw-mmv-license cc-license" href="https://www.propertyobserver.com.au/https://creativecommons.org/licenses/by/2.5" target="_blank">CC BY 2.5</a>. 
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Busselton the market leader in regional Western Australia

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A Melbourne newspaper article this week bemoaned the fact that “first home buyers in Melbourne fall well short of the median house price”.
It noted that the median house price was $590,000 and the median unit price was $460,000 but, according to PRDnationwide research, the average first time buyer could only afford to spend $372,000.
“First home buyers are increasingly being pushed to the fringes of Melbourne,” wailed the article.
My responses to the information in those three preceding paragraphs are these: So what? So what? And, again, so what?
Newspapers never get tired of their pet real estate theme – i.e. the 'Great Australian Dream' is dead. Research companies, and others suffering from limelight deficit syndrome, know that if they toss together some figures, call it research and send a bleeding heart press release to a newspaper, publicity will inevitably follow.
Whether through ignorance or mischief, this article, like so many others, missed the point several times.
The first point they missed is that first home buyers are not being asked for pay the median house price for a home, nor the median unit price. If the median house price was $590,000, by definition it means that half of all house sales were for less than that figure – in many cases, for a lot less.
Another point missed is that if $372,000 is what people can afford, there are heaps of options in Melbourne. The Hotspotting team did some research, looking for suburbs with median house prices and/or median unit prices under $400,000. If the median is $400,000 or less, it means half of all sales are below that figure, so plenty of possibilities around $370,000.
We found 214 Melbourne markets that were affordable, by that criteria. And you don’t have to go out to the fringes to find them.
<a href="/news">Brunswick West</a>, where the median unit price is $385,000, is not on the fringes. <a href="/news">Footscray</a>, with similar numbers, is 6.5 kilometres from the Melbourne CBD. Neighbouring <a href="/news">West Footscray</a> is cheaper still.
The Sunshine suburbs, which all fit the affordability criteria (and offer major medical, education and transport infrastructure), are 10-12 kilometres west of the CBD.
Many of those 214 affordable markets were more distant. Some are right out on the outskirts of the metropolitan area (but many of them in areas with good capital growth records).
But there’s another point missed by the article: it’s not a national crisis if first time buyers have to go to the fringes to find a house they can afford. It has always been thus and, I imagine, always will be.
I bought my first home in the early 1980s. I was working in central Brisbane but had to go to the far south-west of the metropolitan area, out in Ipswich City, to find something in my price range. I spent three hours every day on trains.
It was a dogbox house in a dog of a suburb, but it got me started. And, like a lot of ugly real estate, it grew in value. My second purchase was a lot closer to the action and the third was a good house in a good suburb, not far from the CBD.
That’s how home ownership works. You make sacrifices and compromises to get started, and work your way up from there. If all goes well, you’ll achieve your dream home long before you retire.
The bottom line: the nation owes its citizens shelter. But it doesn’t owe anyone their dream shelter in their dream location as a first purchase.
If anyone wants it badly enough, there are hundreds of market options around the Melbourne area. But if you’re not prepared to make some compromises, get used to renting.
TERRY RYDER is the founder of <a href="https://hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> him or contact him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter</a>. 
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First home buyers: If you’re not prepared to make compromises, get used to renting

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A long-term view is a standard requirement for property investors. Easy to say, not so easy to do.
When you own in an area that’s currently going backwards, it’s hard to practice the long-term doctrine.
A second necessity for property investors is to understand well the market you choose for purchase. A third is to know yourself and your financial objectives.
All three of these criteria seem to be missing for many people who buy in towns and regional cities impacted by the resources sector.
It’s a common item in my inbox – an email from an investor who bought in <a href="/news">Muswellbrook</a> in New South Wales or <a href="/news">Mackay</a> in Queensland and is distressed because vacancies are up and rentals are down.
Other locations likewise afflicted include <a href="/news">Emerald</a>, <a href="/news">Gladstone</a>, <a href="/news">Bowen</a>, <a href="/news">Moranbah </a>and <a href="/news">Chinchilla </a>in Queensland; towns of the Hunter Valley as well as <a href="/news">Mudgee </a>in New South Wales; and <a href="/news">Newman</a>, <a href="/news">Port Hedland</a> and <a href="/news">Karratha </a>in Western Australia.
Most of these places are impacted by the same double whammy: resources-related demand went south as developer ambitions went north. In one or two cases, like Gladstone, resources-related demand is as strong as ever, but developers simply went ballistic with new supply.
The result, in all these locations, is high vacancies, declining rents and, inevitably, decreasing property values.
If you own an investment property – or two or three, in the case of some who have contacted me – in these locations, it’s natural to be getting a bit twitchy.
But what about those three criteria I mentioned earlier? I get the feeling many people bought in places like Gladstone or <a href="/news">Singleton</a> without a clear appreciation of the nature of these markets.
Locations where the resources sector is a big part of the local economy always have volatile property markets. Unlike your average city suburb or well-rounded regional centre, they are prone to big peaks and troughs. Long-term the price growth averages can be impressive and you can make high capital gains, but there will be stressful periods along the way.
This refers to another of those criteria: a good understanding of your own temperament. Many people aren’t built to own real estate in volatile markets. They border on meltdown when the market dips below the red line. If they understood those markets and their own inner selves well, they wouldn’t – shouldn’t - have bought there.
I’ve never bought real estate in mining centres because I know I wouldn’t sleep so well.
And that brings us to the most important criteria of the three, the long-term perspective. Someone who bought in a Moranbah or a Bowen without understanding that volatility was likely, and is now freaking out because they weren’t suited to that kind of situation, is prone to blowing their money with a panic cut-my-losses-and-sell response.
Many of the locations mentioned earlier will do well in the future. The resources sector is highly cyclical and the good times will return. Headline-grabbing one-liners like “the mining boom is over” are both silly and short-sighted. Australia has a very big future as a provider of key resources to growth economies, especially in Asia.
Comments coming from credible sources in the resources industry are turning increasingly positive, in terms of better prices for commodities and a return to investment expansion.
Property investors who panic and sell now will lose money. Those who hang in there for the long haul are likely to benefit from future growth.
Here’s a final thought to ponder: the Hotspotting team recently researched long-term capital growth averages across the Australia. The locations with the highest growth rates – average annual rise in prices over the past decade – were all mining towns or regional centres impacted by the resources sector, even with the sharp decline in fortunes in the past year or two.
TERRY RYDER is the founder of <a href="https://hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> him or contact him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter</a>. 
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Investing in a mining town requires a long-term view

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There’s only a three-hour drive separating the two places but Canberra and Sydney are worlds apart when it comes to real estate.
That Sydney has been accelerating while Canberra has been in slow reverse is ample evidence that it’s foolish to speak of conditions in “the Australian property market”.
It also exposes the folly of claims of surging house prices across Australia. Nothing is surging in Canberra, other than Clive Palmer’s ego and tendency towards erratic behaviour.
While Sydney has had 18 months of upside, Canberra has experienced a slow and steady trip on the downside.
My research on Canberra for the next edition of The Price Predictor Index shows the trends evident in the two previous quarterly editions have continued – a gradual descend into downturn.
In the May edition I commented that the Canberra market was “going nowhere – neither up nor down - there is little in the way of meaningful growth, with markets stalled by uncertainty and nervousness resulting from the Federal Government’s plans to make big cuts to the public sector workforce.”
In the August edition I noted that the situation had worsened, with a reduction in the number of suburbs with any sort of positive pattern. The upcoming November edition will record a further deterioration in market conditions.
There are no “Rising Fast” markets in Canberra and only five “Rising Steadily” markets.
There remain a dozen suburbs rated as “Consistency” markets. In this regard, the standout precinct is the far north of the city, where new house-and-land sales are helping to maintain steady sales rates.
But the overall message is a marked absence of momentum, especially in the apartment market.
The number of apartment sales has been decreasing steadily for the past two years. In both the September and December quarters of 2012, there were 800-plus apartment sales across Canberra. By the March quarter of this year unit sales were down to 620 and in the September quarter there were an estimated 580 sales.
All of the Canberra markets with strong patterns of declining sales activity are unit markets. The suburb of Bruce, which was typically selling 40 to 50 apartments per quarter in 2012 and 2013, is now managing about 20 sales per quarter.
The biggest single apartment market is Kingston, which had 89 sales in the September Quarter of 2012 and 73 sales in the September quarter of 2013. But it’s gone steadily backwards since then, with only 48 sales in the June quarter this year and an estimated 30 sales in the September quarter.
The number of house sales across Canberra has also decreased, though not as much as apartments.
This pessimistic scenario is now reflected in data on prices and rentals. Domain Group’s September quarter House Price Report recorded a 2% quarterly decline in Canberra’s median house price and a 4% quarterly reduction in the median unit price.
The median rent for houses dropped 3% in annual terns and median rent for apartments is down 5%.
There has been an inevitable weakening of demand as the federal government moves towards giving the public service a short back and sides, while relocating some elements to regional areas where the costs are cheaper.
Terry Ryder is the founder of <a href="https://hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> him or contact him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter</a>. 
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Canberra's market is stuck in reverse

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The local newspaper in Newcastle has declared, erroneously, that inner-city units “have piled on more than 20% equity for their owners in the past 12 months”.
It’s a sadly typical case of a non-expert writer misunderstanding and misinterpreting statistics.
What has really happened in Newcastle? The sale of new upmarket apartments has lifted the median unit price. According to Domain, the median price for apartments in the Newcastle LGA has risen 23.6% in 12 months.
The journalist reporting this interpreted it as “Newcastle LGA unit prices have climbed a whopping 23.6%”.
Regrettably, it’s another example of someone writing about a subject beyond their expertise, not that it takes a genius to understand the workings of median prices and how they mislead more often than they inform.
The median price has risen 23.6% but property values have not.
I would delighted if property values had increased that much because Newcastle is a location I’ve recommended to investors over the past couple of years. If people who had acted on that tip had experienced a 20%-plus rise in wealth, I would feel validated. Nothing as strong as that has occurred, however.
I have often said that Newcastle is one of Australia’s most underrated property markets. I see if as an attractive alternative to Sydney for both home buyers and investors seeking affordable real estate is a growth economy with plenty of attractive lifestyle factors.
Newcastle has the world’s largest coal export port and coal is on a downer, but Newcastle has continued to pump because the city has other drivers. There has been big spending on infrastructure in Newcastle and the Hunter region – including the $1.4 billion Hunter Expressway - and there’s plenty more to come, notably in the CBD.
The real estate market has responded with solid growth in property prices. But the market has not jumped 20%-plus.
Caution is always needed when dealing with median prices. Often they’re a comment on the type of property being sold, rather than the movement in values.
If an upmarket project is sold during a given time period in a particular suburb, it will elevate the median price. Conversely, if a budget estate is sold, it may have the effect of pulling down the median price for the suburb, but this should not be seen as a decline in values.
The only way to accurately gauge movements in values is to examine re-sales. I have seen many instances where the median price has decreased at a time when property values are rising – and vice versa.
So it’s plain wrong to tell newspaper readers that owners of Newcastle apartments have had a 20%-plus increase in equity.
The caution consumers should take over real estate statistics extends well beyond median prices (and median rents and median yields). Rubbery figures are bouncing around many of our property markets.
The report on Property Observer this week <a href="/expert-insights/buying/sydney-october-auction-strength-easing-says-apm-but-rp-data-proffers-otherwise">on Sydney auction results</a> is a case in point. Two major data sources put contrasting interpretations on the weekend results. One said the results showed the market rising while the other suggested it was evidence of decline.
The numerous occasions in which commentators have declared the so-called property boom over, on the basis of a single month’s price data from a single source, is further evidence of the perils of misreading property statistics – especially those relating to movements in median prices.
The best way to chart the rise or fall of individual markets is to monitor changes in sales volumes.
Terry Ryder is the founder of <a href="https://hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> him or contact him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter</a>.
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Newcastle figures show why you can't trust median prices

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Most of what people think they know about real estate is misinformation.
It helps to explain why so many Australians who attempt property investment have a bad experience and sell out at a loss.
Most of the questions I get from people, at seminars or via email, spring from a misconceived notion of the state of play in real estate.
Common examples include:
<ul>
<li>“With house prices surging around Australia, do you think ….?”</li>
<li>“Now that the property boom is over, what …?”</li>
<li>“I want to buy property within 5 kilometres of the CBD to get the best growth, but ….”</li>
<li>“Given what we have a housing shortage, do you think  ….?”</li>
</ul>
Or the dumbest question of all: “When do you think the bubble will burst?”
There are myriad examples. It seems the depth of research achieved by most consumers is a scanning of newspaper headlines. Australians are adept at absorbing myths, misconceptions and misinformation from media sound bytes.
One of the greatest of real estate myths popped up last week. Like most pieces of misinformation in real estate, it was created by a press release from an organisation pushing its vested interest.
It sought to perpetuate the great furphy, much cherished by real estate agents, that you will always get a better sale price if you employ an agent, as opposed to selling privately. It was apparently based on a survey of the perceptions of real estate consumers.
This was self-serving nonsense which contradicted my own research and considerable experience in the market.
The opposite is true. Your best chance of getting a top price for your property is to sell it yourself. You will also save thousands in commissions and marketing costs. The only time you should engage an agent is when you don’t have the time to handle the marketing process yourself.
Part of the argument from the agency community is that when you employ a selling agent you gain their negotiating skills. This is a hilarious concept. I am still waiting for my first encounter with a real estate agent skilled in negotiating.
Another part of the argument is that agents are motivated to get you the best possible price, because they get more commission.
<blockquote>
The only time you should engage an agent is when you don’t have the time to handle the marketing process yourself.
</blockquote>
This, too, is nonsense. The only motivation of a selling agent is a fast sale. The faster the better. Their motivation is convincing the vendor to accept the offer on the table.
In terms of commission, the difference between a $450,000 sale price and $470,000 is negligible. It’s $20,000 worth of difference to the vendor, but only small change to the agent. The agent’s motivation is to get the vendor to accept the $450,000 offer quickly – not to work hard to get the buyer to lift their offer.
As a buyer, my toughest negotiations have always been with private sellers. They will fight tooth and nail to get their price. Most real estate agents, on the other hand, are pushovers. They just want a quick sale and will devote their energies to talking the vendor down in price, rather than trying to talk the buyer up.
So the typical scenario is this. The vendor wants $470,000 and the agent wins the appointment by telling the vendor they will indeed get $470,000, perhaps more. Then the agent will go to work on “conditioning” the vendor, which means acquainting them with the reality that their property really isn’t worth $470,000.
A potential buyer offers $420,000. The agent uses that to further condition the vendor. The agent’s motivation is, always, a fast sale. So the agent’s energy will be focused on getting the vendor to accept the low offer, rather than negotiating hard to convince the buyer to lift their offer. The former could mean a sale today, while the latter course could mean a sale weeks later, or no sale at all.
I know about this subject. One of the books I’ve published was on this very topic. I conducted a lot of research before writing it. And the overwhelmingly conclusion my research revealed was that private sellers get higher selling prices than do agents.
In my property buying career, I have never paid the asking price for a property marketed by an agent, always considerably less. I’ve never had to fight the agent. The agent has always taken my offer and worked on the vendor.
It shouldn’t be that way, but that’s the way it is.
Terry Ryder is the founder of <a href="https://hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> him or contact him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter</a>.
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You don't get a better sale price with an agent

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Good grief, do they ever learn? Or do they just not care?
They're declaring the "property boom" over, yet again.
And, yet again, it's based on a single figure for a single month from a single source, published in haste.
This is the fourth time (or is it the fifth?) the so-called boom has been pronounced dead within the past 12 months. This week I've observed radio news bulletins, online news services and newspapers making the claim, or otherwise placing great significance of an isolated statistic.
The alleged growth in Australian house prices in September was small, therefore it's all over, red rover.
To illustrate how silly this is, let me take you back four months.
Early in June, data was published indicating a decline in capital city prices in May. People rushed to be first to declare the end of the property boom.
They generated lots of headlines for themselves – which evidently was the only objective – but they got it horribly wrong.
They simply added to the great seething mass of misinformation which confuses and misleads real estate consumers – for no better reason than to develop their profiles or advance their businesses.
The organisation which made the biggest play for profile in June was an obscure valuation practice. We won't publish its name to protect the guilty. Early in June the firm issued a press release which sought to ensure everyone knew that it had been the first to declare that the market had peaked and the boom was over.
"This has been well and truly demonstrated now that the May figures are out," it shouted in its 3 June press release. "At the beginning of May, other forecasters were still looking for a rebound in activity in May following a weaker Easter period, but now it is clear that we were correct in calling a change in the market."
Well, actually, NO. They were wrong. Prices have continued to rise in Sydney and, to a lesser extent, Melbourne – and now other cities have begun to move (moderately), including Brisbane, Adelaide and Hobart.
Its mistake, apart from a shameless push for I-told-you-so publicity, was its reliance on a single data figure, describing a single month's price movement, from a single company. You would have to think they've been around real estate long enough to know that price graphs are never smooth and that a single month's data can be an aberration. That's particularly so for May, which often is a month in which the market dips slightly, but temporarily.
Even worse was basing an assessment on one figure, which describes the average change across a very large nation. That was naïve in the extreme. But they weren't alone.
Economists and financial analysts just can't resist preaching about real estate, notwithstanding their lack of expertise. So in June, a multi-national financial services corporation jumped on board and declared that "the housing boom is finally over". We'll overlook the reality that there was no housing boom, just a Sydney boom.
"If you're an investor, you've missed the boat," said one of their analysts, who put out a note to investors tell them that, without further interest rate cuts, the currently housing cycle was a dead duck.
So, four months later, here we are again. The commentators and analysts have forgotten June, or just don't care, and so have the media workers who publish their nonsense.
While the attention-seekers were clamouring this week to grab a bit of profile from the September price data, valuation firm Herron Todd White published the October edition of The Month in Review and made this pertinent observation: "There continues to be talk of the Sydney property boom, but not all markets can lay claim to this sort of activity. Our real estate is as varied as our landscape in Australia, and market performance is just as diverse."
It also said this: "It's funny. These almost daily calls of 'property bubble vs no property bubble' feel a bit like a couple of grade one school boys attempting classic sledges such as At least I'm not ugly and I know you are, but what am I?. It looks like Sydney and, to a lesser part, Melbourne are driving the property market agenda again. Let's just say that there are other markets outside of these that would really, really like to see some capital gains, but may be doomed to legislative tightening designed to cool New South Wales and Victoria. It's further evidence that, in our big nation, there is no such thing as an average property or a typical market."
So true. But try telling that to your (very) average economist, who knows little about real estate but a lot about generating cheap publicity.
Terry Ryder is the founder of <a href="https://hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can reach Terry via <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> or <a href="https://twitter.com/hotspotting" target="_blank">twitter</a>.
 
 
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Apparently, the property boom is over – again

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At last, some informed comments about Australian real estate by someone in a position of authority.
Joe Hockey isn’t my favourite politician, but the Federal Treasurer has a better handle on residential property than all of our chattering economists, the overseas analysts who appear obsessed with Australian prices and the twits at the Reserve Bank who speak to the public about real estate as if they were lecturing primary school students.
Hockey has criticised offshore commentators looking at Australian real estate through a very long and out-of-focus telescope. He has<a href="/news/joe-hockey-dubs-housing-bubble-claims-as-lazy-analysis"> accused them of “lazy analysis”</a>. He might have pointed the figure equally at the RBA.
Glenn Stevens continues to fret about “soaring real estate prices” and has pumped out a series of Real Estate #101 lectures to the public; such as this platitude: “People should be aware that real estate prices do not always rise. Sometimes they fall.”
Hockey’s absolutely right about lazy analysis. It’s just too easy to look at a single average figure for one-year price growth across our major cities and rush out a press release claiming a bubble in the hope of some cheap publicity– and media always obliges without ever thinking to ask a question or two.
Hockey has made it clear he’s not interested in taking action on what one newspaper termed “spiraling property prices”. That’s because we don’t have spiraling prices, other than in Sydney, which is playing catch-up after 10 years in which average price growth barely kept pace with inflation.
Hockey pointed out that big growth has been limited to only small parts of the national market. “It's primarily in pockets of Sydney, pockets of Melbourne and, to a lesser degree, in Brisbane," Hockey said.
The Federal Treasurer has done something that 99% of economists haven’t done. He has looked behind the average growth figure for the 12 year (about 10% or 11%, according to most research sources) and discovered that none of our capital cities have had growth that big, other than Sydney.
It’s not rocket science - indeed it’s the most basic of analysis that would take approximately five seconds - but incredibly most economists haven’t done that.
Hockey said this week many parts of Australia had experienced no significant increase in property prices, therefore any action to cool the market must be "very targeted and it needs to have some capacity to be time-limited".
Here’s the bottom line, based on price data from the Australian Bureau of Statistics. Annual growth in prices has been 2% in Canberra, 3% in Darwin, 4% in Perth and in Hobart, 5% in Adelaide, 6% in Brisbane and 9% in Melbourne.
There is no Australian property boom. There has been, so far, a Sydney property boom.
Does that constitute a Sydney price bubble? Well, no. This is the first major growth in Sydney prices in 10 years. ANZ chief executive Phil Chronican commented: “Sydney has been <a href="/news/nsw/sydney-property-price-playing-catchup-anzs-philip-chronican">playing catch-up</a>.”
Despite the growth of the past 18 months, the average annual rise in house prices in most Sydney suburbs has been 3% to 4% in the past decade. Prices have barely kept pace with inflation.
Even with the most vivid imagination, it is impossible to construct a bubble from those facts.
Shakespeare <a href="https://www.goodreads.com/quotes/5926-the-first-thing-we-do-let-s-kill-all-the-lawyers" target="_blank">almost got it right</a>. First thing we do, we get rid of all the economists.
You can contact Terry via  <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://www.twitter.com/hotspotting" target="_blank">Twitter</a>. 
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Joe Hockey is right, 'bubble' chatter is lazy analysis

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There are two standout opportunities in capital city Australia to buy well with good prospects for near-term growth – but most investors won’t do it because of entrenched attitudes.
The opportunities are Hobart and Adelaide, our two most affordable capital cities.
Investors tend to shun Tasmania and South Australia. They are regarded as states which lack growth drivers, such as strong population trends, expanding economies and infrastructure spending.
I think South Australia is totally underrated and that perceptions of it as a place without growth catalysts are simply wrong. There are some big-ticket events coming up in its resources sector and Adelaide has a high level of infrastructure development under way or in planning.
But I’ve written extensively about Adelaide and South Australia recently, so today I’ll focus on Tasmania and Hobart.
Tasmania has a thoroughly deserved reputation as the struggle state of Australia. As a population and as an economy, it has gone nowhere in recent years.
But things are changing and it’s time to re-consider Tasmania – and, in particular, Hobart.
After years of recording Tasmania as last or second last on every significant economic indicator in my various reports, I can now do something that I never expected to do: report that Tasmania now ranks number one in the nation on one very important economic indicator - housing finance for owner-occupiers.
Home finance rose 15.5% in the year ending July, compared to the national average rise of 9.1%. Tasmania clearly is rising from a low base, but for the state to rank number one for growth in a key indicator is a significant change.
Tasmania has also improved markedly with residential building approvals. Approvals for new homes are up 18.5% in annual terms, slightly better than the national average.
This is evidence of improving confidence in Tasmania. There is a new government running the state, some long-delayed projects are now happening in Hobart and there appear to be some prospects for economic growth (personally, I would prefer that they achieved it without chopping down old-growth forests, but that’s another story).
The greatest reason for optimism that Tasmanian property markets are headed for some overdue growth is that sales activity has been rising – not rapidly, but steadily – over the past six months or so.
There are growth markets scattered around the state, but most of them are in the Hobart metropolitan area.
In keeping with the usual pattern in real estate cycles, the upturn appears to be happening first in the inner-city areas – suburbs such as <a href="/news">Sandy Bay</a>, <a href="/news">New Town</a> and <a href="/news">West Hobart</a> – and some of the better waterfront areas.
Kingborough, a bayside municipality on the southern fringe of Hobart, has long been one of the best markets in the Hobart area over time – and it is producing some of the current growth areas, including <a href="/news">Kingston</a>, <a href="/news">Kingston Beach</a>, <a href="/news">Blackmans Bay</a> and <a href="/news">Margate</a>.
The Hobart apartment market has good momentum. The unit market has been rising steadily since late 2012, with sales in consecutive quarters numbering 94, 110, 135, 137, 144 and 150.
If investors can overcome their perceptions of Tasmania as the recession state, there are some juicy opportunities to buy in Hobart at very affordable prices (median prices $330,000 for houses and $248,000 for apartments), with genuine prospects for growth in the near future.
 You can contact Terry via <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://www.twitter.com/hotspotting" target="_blank">Twitter</a>. 
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