We don’t like to say “we told you so” but we did.  There are reports rolling in from all over the country (except Queensland) that investors are both dumping properties on the market and not turning up for auctions, thereby leaving the bidding to people who want to live in the properties.

So far, so good (except for the people selling). Now we are hearing that the number of properties for rent has been reduced, with both situations characterised in some less enlightened quarters as a national disaster.

But there’s the rub:  Who is buying these not quite cut-price properties? Could some of them be renters? Or are the buyers trading up from properties that renters could afford? A bit of both, probably all of which could lead to a reduction in demand for the limited number of rental properties.

Of course you have to factor in the return to the market of stay-at-home grown-ups getting the hint from their parents and the short-term holiday rentals that have zero effect on residential rentals (according to them and the blinkered politicians who have to believe their BS because otherwise they’d feel guilty about renting holiday apartments in Paris and London).

It’s all grist to the mill, powered this week as always by the news feed from Leftfield.

Free Reads

Domain – Free

Just nine Queensland suburbs saw property prices fall as statewide boom reaches 99 per cent of markets
Domain data shows only nine of 683 Queensland suburbs recorded a price fall in the 12 months to March 2026, though experts expect that figure to rise as the budget’s tax changes flow through.

RBA holds cash rate at 4.35% after three consecutive interest rate hikes
The RBA has left the cash rate at 4.35 per cent in its first hold of 2026, with Angus Raine of Raine and Horne welcoming the decision as relief after the shock of three consecutive hikes. Most experts still tip another rise before year end.

Businessman lists $12.5 million pad to fund European racing dream
Adam Troost is selling his whole-floor Point Piper apartment at $12.5 million to fund a European classic car racing campaign spanning events in the UK and Mediterranean.

Brisbane’s luxury apartments rival Sydney’s best – but buyers are still paying millions less
Brisbane’s prestige apartment market is producing product that matches Sydney’s best in terms of specification and amenity, but buyers are still paying significantly less for equivalent quality, a gap that continues to attract interstate and international investors seeking relative value. Growing wealth, the 2032 Olympics pipeline and changing taste profiles are resetting expectations for luxury apartments across the city’s premium postcodes.

Realestate.com.au

Warning as common items linked to surge in household fires
Authorities are warning Australian homeowners to be vigilant this winter as lithium batteries in common household devices are being linked to a sharp rise in residential fires, with a Sydney garbage truck forced to dump its load after a crushed battery caught alight. The risk is described as particularly acute as colder weather drives increased use of rechargeable heating and electrical items.

Buyers snap up $140m worth of apartments in new Gold Coast tower
Developer Homecorp has sold 75 per cent of its Florence Residences tower in Surfers Paradise in a single weekend, with buyers committing $140 million to off-the-plan apartments in the $210 million project. The result reflects sustained demand for well-positioned new product in the Gold Coast market even as the broader residential environment softens.

Thousands of rental homes vanish from market after negative gearing reforms
Australia’s rental supply contracted in the first month after the federal budget’s negative gearing and capital gains tax changes were announced, with investor exits outpacing new entrants into the landlord market at the same time as migration continued to expand the tenant pool. The combination is tightening rental availability and placing upward pressure on rents.

Sydney auction market slumps to level not seen since 2018
Only 41.3 per cent of Sydney homes scheduled for auction last week resulted in a sale, with a significant number passed in without receiving a single bid — the weakest result in nearly eight years. The bulk of properties that did not sell were withdrawn before bidding commenced, pointing to vendors pulling out rather than testing the market.

Missing property investors trigger major Melbourne auction shift
Investor withdrawal from parts of Melbourne’s auction market is handing cautious buyers fresh negotiating leverage, with agents reporting a hidden layer of seller pressure as properties sit longer and vendors adjust expectations. The shift is most pronounced in suburbs that had historically attracted strong investor demand.

Final residences revealed in first Gold Coast Spit development in 25 years
The Mantaray Marina and Residences on the Gold Coast Spit has unveiled its final collection of ultra-luxury penthouses and rooftop residences, with completion expected later this year on what will be the first new development on the peninsula in a quarter of a century. The low-density project was developed by Gordon Corp and pub baron Bruce Mathieson.

Urban Developer – Partly Free

Brisbane’s Shifting Market Prompts Townhouse Pivot at Taringa
A Brisbane developer has switched from a 47-unit apartment building to 20 three-bedroom townhouses at Taringa, citing major shifts in the city’s market dynamics.

Neutral Bay Apartment Ban Reversal Unlocks Vatera’s $52m Proposal
Vatera Developments has filed a $52 million proposal for 37 apartments across eight storeys at Neutral Bay, three years after apartments were prohibited on the site.

Lacey Group Plots Modernist Midrise for Gold Coast’s Mermaid Beach
Lacey Group has lodged plans for a seven-storey mixed-use building at Mermaid Beach designed to capitalise on the imminent opening of the Gold Coast light rail extension to Burleigh Heads, delivering 47 apartments above two levels of retail, dining and commercial space. The proposal is positioned as a transit-oriented development directly benefiting from improved rail connectivity.

First Look: 700-Home Precinct Plan Revealed for Parramatta
The Hellenic Orthodox Community of Parramatta has sought planning assessment requirements for a 738-home mixed-use precinct incorporating three towers rising to 50 storeys around an approved but unbuilt Greek Orthodox cathedral near the Parramatta CBD. The 1.34-hectare site sits approximately 400 metres east of the city centre.

Infill Push Targets Commercial Sites at Sydney’s Mona Vale, Narraweena
A former Telstra exchange at Mona Vale and a neighbourhood retail strip at Narraweena are being converted to housing on Sydney’s Northern Beaches, adding 28 apartments to local stock across an approved project and a new shoptop proposal. Both projects reflect a broader push to activate underutilised commercial sites in established suburban locations.

Eight-Tower $2.5bn Vision for Final Piece of Gold Coast Urban Puzzle
A $2.5 billion masterplan for a long-dormant 5.4-hectare Gold Coast waterfront site proposes up to eight towers delivering 1,250 apartments, completing what developers describe as the final piece in a decades-long urban planning vision for the area.

NSW Court Knocks Back 17-Storey Parramatta Infill Tower Proposal
The NSW Land and Environment Court has refused Capio Property Group’s proposal for a 17-storey residential tower at Carlingford in Parramatta, though the developer has indicated it will lodge a revised application. The site sits 28 kilometres north-west of the Sydney CBD in a corridor where the state government is seeking to concentrate new density.

Apartments.com.au

Lowe Living launches Jardin House in Camberwell
Lowe Living has launched Jardin House, its first project in Melbourne’s City of Boroondara, targeting affluent Camberwell downsizers and established families.

The Walden pairs house-scale living with North Sydney connectivity
A new North Sydney apartment development is targeting buyers seeking harbourside-house privacy and scale within reach of the Victoria Cross Metro.

ACT abolishes stamp duty for first home buyers
From 1 July, the ACT will become the first jurisdiction in Australia to abolish stamp duty for all first home buyers with no income caps or price thresholds.

Rooftop pool, private dining and skyline gardens to crown West Village’s final apartment release, Callista on Park
Callista on Park is the final residential building within Brisbane’s West Village precinct, topped by a rooftop pool overlooking the CBD.

Capital Corporation to cater to Upper North Shore downsizers by creating walkable community at The Residences at Wahroonga Estate
Capital Corporation is developing a walkable downsizer community at Wahroonga Estate on Sydney’s Upper North Shore.

Vermont plots The Henry launch ahead of Roseville apartment boom
Vermont is preparing to launch The Henry in Roseville ahead of what is expected to be a wave of new apartment projects following the NSW government’s density push.

First look: HSN, Rebel, advances Woolloomooloo precinct plans
An entity directed by HSN’s Rafi Assouline and Rebel Property’s Allen Linz has filed plans for a mixed-use residential village anchored by affordable housing and a substantial public park on William Street in Woolloomooloo. The proposal marks a significant step forward for one of the inner city’s more ambitious precinct redevelopment concepts.

Keylin plans heritage-led Lotus on Water Street apartment development in Fortitude Valley
Brisbane developer Keylin is seeking approval for a 15-storey mixed-use project at Fortitude Valley that incorporates a locally heritage-listed furniture showroom as the centrepiece of the new development at Water Street. The project adds to a growing pipeline of heritage-led residential proposals across Brisbane’s inner ring.

Azure approved for new townhouse development in Southport
Brisbane-based developer Azure has received approval for a $115 million project delivering 114 terraces at 1 Clarke Street in Southport within the Gold Coast Health and Knowledge Precinct, forming the final stage of the broader Lumina development. The approval follows a development application lodged in January 2026 after the site was acquired in October 2025.

Fortis approved for hotel component of Richmond Square precinct
Fortis has secured approval for a 57-room hotel at its Richmond Square precinct in Melbourne’s inner east, the latest milestone in the delivery of a $330 million mixed-use development bringing together apartments, hospitality, wellness and lifestyle uses between Richmond and Cremorne. The hotel will occupy the first two levels of the Carmine House building.

Consolidated Properties Group sells out Monarch Residences as Brisbane riverfront demand surges
Consolidated Properties Group has completed and settled $450 million worth of apartments at Monarch Residences in Toowong, marking one of Brisbane’s most significant riverfront residential completions in recent years. The full sellout and settlement of the project reinforces sustained demand for quality riverside product in Brisbane’s inner west.

First look: Dusk Group targets Suttons Beach precinct with 70-apartment Redcliffe proposal
South East Queensland developer Dusk Group is venturing into Redcliffe for the first time with a 70-apartment proposal targeting the Suttons Beach precinct, following the group’s earlier expansion into Caloundra. The project adds to a growing pipeline of medium-density development proposals across the Moreton Bay region.

Pay-walled

The Australian Financial Review

Opal Tower finally defect-free, and one sale even manages a profit
Seven years after a cracking concrete structure forced residents out days before Christmas, Opal Tower has been declared defect-free after Icon and parent Kajima spent more than $50 million on repairs. Owners now describe it as the best-quality building in the country.

RBA will raise rates again if needed to tame inflation, Bullock warns
The RBA unanimously held the cash rate at 4.35 per cent but governor Michele Bullock warned the pause does not signal the end of tightening, with inflation still running at 4.2 per cent. Bullock also flagged the budget’s tax changes have added uncertainty to the housing market.

Defence offloads first surplus military site for $23m
Urban Apartments has settled the $23 million purchase of a 3.6 hectare Penrith training depot, the first of dozens of surplus Defence sites the federal government plans to release for development almost nine years after the site was originally identified as surplus to requirements. The buyer is expected to convert the outer western Sydney site into apartments.

This chart shows how the housing cooldown is hurting NSW and Victoria
Property sales volumes fell 17 per cent in Sydney and 14 per cent in Melbourne in the two months to the end of May, pointing to a sharp drop in stamp duty revenue for the two most populous states. Cotality research director Tim Lawless attributes the decline to the combined effect of rate rises and the budget’s investor tax changes, with global ratings agency Fitch warning the policy shift introduces greater risk into an already pressured sector.

Owner-occupiers snag $1.325m apartment as investors fade away
A renovated two-bedroom apartment in Chatswood sold before auction for $1.325 million to owner-occupiers, illustrating the shift underway in buyer composition as investors retreat from the established property market following the budget’s tax changes. The result sits at the intersection of two trends that are reshaping transaction volumes across Sydney’s middle ring.

Everyone thinks the RBA is done. They’re wrong
Economist Warren Hogan argues the consensus view that the Reserve Bank has finished raising rates is mistaken, warning that financial markets have responded more vigorously to weak economic data than to evidence of persistent inflation. Hogan contends that the political and economic pressure to avoid another hike should not be confused with sound monetary policy.

Australia’s other housing crisis: Insurance is becoming unaffordable
A growing number of Australian homeowners are dropping their home insurance policies as premiums become unaffordable, creating a hidden layer of financial risk that sits beneath the headline housing affordability debate. The trend is particularly acute in natural disaster-prone regions where premiums have risen sharply following consecutive years of flood and storm claims.

The Australian

Housing tsar Susan Lloyd-Hurwitz adds to supply concern
Labor’s housing tsar Susan Lloyd-Hurwitz has told parliament that the budget’s capital gains tax changes are designed more to redistribute wealth than to increase housing supply, reinforcing comments made by Treasury secretary Jenny Wilkinson last month that drew a similar conclusion. The remarks sit in direct tension with the Prime Minister’s framing of the same measures as boosting supply and getting tax settings right.

Tony Burke warns migration must match housing supply
Home Affairs Minister Tony Burke has acknowledged the government needs to better align migration levels with housing supply, pointing to a 45 per cent reduction from the 2023 migration peak while conceding more work remains to be done. The comments come ahead of Thursday’s net overseas migration data release and reflect growing political pressure from One Nation’s hardening position on the issue.

The Sydney Morning Herald

Young family pays $1.41 million for a Hurstville Grove townhouse
A three-bedroom Hurstville Grove townhouse guided at $1.1 to $1.2 million sold under the hammer for $1.41 million, $210,000 above reserve, attracting eight registered bidders in a reminder that well-located family homes in Sydney’s south continue to draw competitive interest despite the softer broader market. Only five of the eight registered buyers ended up bidding.

Short-term rental crackdown sparks housing row on Sydney’s most famous beach
Waverley Council is considering halving the number of days non-hosted short-term rentals can operate in the Bondi postcode from 180 to 90 days per year, in a move that could return hundreds of holiday homes to the permanent housing market. The proposal has reignited a long-running tension between the tourism economy of Sydney’s most famous beach and the housing needs of the people who live there.

The Daily Telegraph

Business chief slams Bondi short-term rental crackdown as ‘economic self-harm’
A business leader has blasted Waverley Council’s plan to halve allowable short-term rental days at Bondi from 180 to 90, warning the move would damage tourism in one of Australia’s most iconic destinations.

Rouse Hill Metro: 548 homes approved
A three-tower development directly opposite Rouse Hill Metro station has been approved to deliver 548 factory-built modular homes across 11, 18 and 23-storey buildings, comprising 332 apartments and 216 co-living studios above a mixed-use podium. Freecity’s use of volumetric modular construction, where apartments are prefabricated offsite, is being watched closely as a potential model for accelerating housing delivery in Sydney’s north-west growth corridor.

ChatNIMBY: How a Bondi Junction community group used AI to generate outrage
A Bondi Junction residents group opposing a major transport hub redevelopment has launched a website allowing users to generate AI-written submissions against the Waverley Council masterplan, flooding councillors and state representatives with opposition messages at the click of a button. The tactic marks a notable new chapter in community resistance to housing density, raising questions about the integrity of public consultation processes when artificial intelligence can automate objection at scale.

Bella Vista Metro development plans: 674 apartments proposed
Urban Property Group has lodged plans for two residential towers of 30 and 49 storeys directly opposite Bella Vista Metro station, comprising 674 apartments including 102 affordable dwellings in a $450 million project. Local leaders have described the proposal as gross overdevelopment that would exceed current height limits and place further pressure on already stretched local infrastructure.

The Herald Sun

Residents at 380 Lonsdale stranded without power for two weeks; no support for renters
Residents of one of Melbourne’s tallest towers have been without power for two weeks after an aircon leak sparked an electrical fire, with no clear return timeline.

The Gold Coast Bulletin

Developer unveils $2.5bn waterfront precinct with 1500 homes for Burleigh Waters
A 14-hectare Gold Coast waterfront site is set to be transformed into a $2.5 billion residential and retail village delivering 1,500 homes, described by the developer as nearly five times the footprint of the entire Oracle precinct. The announcement adds to a pipeline of large-scale masterplanned communities being proposed for the city’s southern suburbs.

The Adelaide Advertiser

Almost 100 locals oppose Monmouth Rd, Westbourne Park five-storey apartment building
Nearly 100 residents are opposing a five-storey apartment block planned for a quiet Westbourne Park street known for its jacarandas.

The West Australian

Redevelopment of iconic Yelo Cafe delivers first luxury apartments with hefty price tag
The four-storey apartment complex built on the site of Trigg’s former Yelo Cafe on West Coast Drive is now complete, with three of five homes listed from $3.2 million to $3.95 million. The development marks the end of an era for one of Perth’s most recognisable beachside eateries.

The Illawarra Mercury

One for the nostalgia buyers: landmark Wollongong Art Deco apartment re-listed
A Wollongong Art Deco apartment in a recognisable cream-tiled building has returned to market at a reduced asking price.

Inside the $23 million Wollongong complex that will become home to key workers
Housing Trust’s newly completed Warruya building in central Wollongong delivers 27 homes across a mix of one, two and three-bedroom units, with 15 designated as affordable housing capped at 30 per cent of household income and 12 as social housing. The $23 million complex is earmarked for key workers, women-led households and people on the social housing waitlist.

First home buyers snap up Unanderra Airbnb from investors selling out
First home buyers have purchased a three-bedroom Unanderra home prior to auction for $962,000, acquiring the property from investors who had been running it as a short-term rental generating around $75,000 gross per year. The transaction illustrates the direct transfer of investment stock to owner-occupiers that the budget’s tax changes are designed to encourage.

Developers want to build a 98-metre tower on the edge of the Wollongong CBD
Urban Property Group has lodged plans for a 98.7-metre tower at the Smith Street gasworks site in Wollongong, well above the 24-metre height limit set under the local environmental plan, as a State Significant Development application seeking to bypass council controls. The same developer already has approval for an earlier stage of eight to ten-storey towers on the same site.

The St George and Sutherland Shire Leader

Minister cancels fast-track status for 1000-unit Caringbah project
Planning Minister Paul Scully has revoked the State Significant Development declaration for a nearly 1,000-apartment proposal on former Caringbah High School land, along with four other SSD declarations that had failed to meet timeline requirements or where applicants had chosen not to proceed. The decision removes fast-track status from what had been one of the largest residential proposals in the Sutherland Shire.

‘Surge’ in sales for new Caringbah apartments as Coles opening looms
Sales at the Caringbah Pavilion apartment project have passed the 50 per cent mark within six weeks of the showroom opening, with developer Conquest reporting strong demand from downsizers ahead of a new Coles supermarket anchoring the precinct. The first residents are expected to move in from late August.