Back in the day and by that we mean the 19^th Century, towns would grow up around coach houses, markets, mines and mills and eventually a railway line would make its way there.

These days, the public transport often arrives first, then the homes are built around its stations and other transport hubs.  That’s what’s happening in Parramatta and Cherrybrook in greater Sydney, where government rezoning around Metro stations could lead to the construction of 12,000 new apartments, according to a story in Realestate.com.au.

Meanwhile, it would be a huge irony, but you’d have to think that two high-rises previously planned as hotels, but about to be re-imagined as residential apartments, could see a chunk of their units immediately listed on Airbnb.

One of them is a tower in Melbourne that was slated for occupation by an uber-posh Shangri-La hotel but will instead be configured as residential units.  Call me cynical but I reckon Melbourne’s “come on down!” approach to short-term holiday lets may have contributed to scaring the hoteliers off.

The other concerns approved plans for a much more modest seven-storey block in Canberra which the developers now want to build as 101 apartments. Under the proposed switch, 37 one, 58 two and six three-bedroom units would be built on Steve Irwin Avenue. Crikey!

All these stories and more in this week’s curated feed from Leftfield Communications.

Free Reads

Domain

RBA interest rates decision August 2026: Cash rate held at 4.35 per cent
The Reserve Bank has held the cash rate at 4.35 per cent as it waits for more evidence that earlier rises are bringing inflation under control.

Realestate.com.au

Major banks reveals when home prices will start growing again
ANZ has forecast property prices could fall up to 15 per cent over this year and next as the downturn intensifies across the largest capitals, citing higher interest rates, stretched affordability and the budget’s property tax changes.

Townhouse switch saves priced-out Melbourne homes buyers massive $400K
Melbourne buyers could save about $400,000 by choosing a townhouse over a detached house to stay in their preferred suburb.

Mount Waverley unit sells for more than house
A three-bedroom Mount Waverley unit at 2/5 Kunzea Court sold for $1.75 million before auction, $100,000 above the suburb’s median house price and $100,000 above its $1.55 million to $1.65 million guide.

Qld record-breaking deal for beachfront super penthouse
A beachfront penthouse deal worth up to $35 million could set a Queensland apartment record, with the buyer seeking a custom pop-top level featuring an oceanfront infinity pool and wellness spa.

Record number of homeowners face loan default
A record number of homeowners are at risk of defaulting on their loans after falling behind on repayments, according to new industry data.

Two Sydney transport hubs that are being eyed for 12,000 new homes
Two rezonings in Sydney’s west and north-west could enable around 12,000 homes near major transport links.

Real Commercial

New Bondi Junction tower site has $100m price hopes
One of Bondi Junction’s largest approved residential development sites is set to be listed, days after Waverley Council endorsed its Master Plan.

‘Can’t get build-to-sell to work’: Apartment developers pivot to build-to-rent, student housing after SMSF loan ban
Housing experts say some developers are considering shelving for-sale (BTS) apartment plans following the ban on self-managed super fund loans for residential property, and switching to build-to-rent and student housing.

Apartments.com.au

Graya buys Frasers Newstead site, plans The Silo between James Street and Gasworks precincts
Builder-developer Graya has bought a Newstead site from Frasers and lodged plans for The Silo, a mixed-use residential project designed around a new public laneway linking the James Street precinct with the Gasworks and wider Newstead area.

Walker doubles down on Maroochydore with 29-storey Celeste apartment tower
Walker Corporation has filed plans for Celeste, a 29-storey, 208-apartment tower at Lot 30 Sunshine Coast Parade, near its under-construction SOL by Walker development.

Urban Developer – Partly Free

Shangri-La Hotel Reworked as Homes in ‘Cold-Shell’ Melbourne Tower
An empty Melbourne CBD tower once earmarked for a Shangri-La hotel will instead become homes.

Developers Under Microscope as Property’s New Anti-Money Laundering Regime Begins
Australia has closed a long-standing loophole that exempted real estate from anti-money laundering rules, a sector the regulator AUSTRAC has identified as a major channel for concealing illicit funds, having estimated in 2020 that Chinese interests alone laundered more than $1 billion through Australian property.

Krnc Hunts for Hotel-to-Housing Switch on Canberra’s Western Edge
Canberra developer Krnc Group has applied to convert an approved seven-storey hotel into a 101-apartment residential building on Steve Irwin Avenue in the western suburb of Wright, keeping the same height with a mix of one, two and three-bedroom units.

Drew Group Plans Rescue from Development Limbo for Surfers Site
Drew Group, led by Jonathan Drew, has proposed a 33-storey apartment tower at 180-184 Ferny Avenue, Surfers Paradise, reviving plans for a triangular site that has been in development limbo for more than a decade.

Cherrybrook Rezoning Clears Way for 10,000 Homes in Sydney’s North-West
The NSW government has confirmed rezoning to provide up to 10,000 homes at Cherrybrook in Sydney’s north-west, allowing buildings up to 27 storeys in the town centre, near the station and along Castle Hill Road, up from the current six-storey limit.

Walker Corporation Reveals Plans for Tallest Tower on Sunshine Coast
Walker Corporation has filed plans for a 38-storey mixed-use tower at Maroochydore that would become the tallest building on the Sunshine Coast.

SP Setia Plots 2100-Home PBSA, Unit Scheme for Carlton Brewery Site
SP Setia has filed plans for three towers on the former Carlton Brewery site in Melbourne’s inner north.

Pikos Group Files Plans for 34-Storey ‘Champagne Flute’ Tower at Newstead
Developer Pikos Group has filed plans for a 34-storey tower at Newstead in inner-north Brisbane, inspired by a champagne flute, delivering 305 apartments including pied-a-terre units.

Finbar’s Two-Tower Railway Parade Units on Track for Perth’s Leafy West
A $94 million two-tower apartment project by Perth developer Finbar has been recommended for approval on a site in the city’s western suburbs.

Pay-walled

The Australian Financial Review

House prices fall in Labor’s marginal seats as downturn spreads
House prices have started falling in dozens of Labor’s marginal seats as the downturn spreads beyond the most expensive Sydney and Melbourne suburbs, with buyer demand affected by successive rate rises and investor tax changes.

Real estate industry prepares for agent ‘shake-out’ as prices decline
Sector leaders expect some agents to lower fees to attract sellers and anticipate redundancies at some agencies as home values fall. NAB economists expect Sydney and Melbourne median prices could fall 10 per cent peak-to-trough.

Westpac’s plunge shows banking’s great mortgage shock just started
Westpac says there are reasons for optimism despite the headwinds facing the property market, though analysts expect margin pressure to increase.

Auction clearance rates hit 11-week high, but prices track south
Melbourne led the national auction market this week, with the Victorian capital’s early clearance rate climbing above 60 per cent.

Reserve disclosure rules will hit weak market: real estate agents
Agents say new rules requiring vendors to publish reserve prices will reduce the number of buyers competing for homes in Victoria, the country’s largest auction market.

Not just apartments: SMSF rules hit detached home-building, too
The budget restriction on self-managed super funds investing in housing is affecting detached houses and townhouses as well as apartments, with some large home builders saying it is hurting delivery

CBA re-enters deposit wars as housing slump makes mortgages harder
Commonwealth Bank has re-entered competition for transaction accounts amid rising cashback offers and competition for customers and funding.

Sorry, but there’s no good news in this RBA hold
A Chanticleer column argues the decision to hold rates carries risk either way: if inflation stays subdued the economy must keep slowing, and if inflation risks materialise the problem grows.

RBA warns house prices have further to fall
The Reserve Bank has said house prices have further to fall, and that declining values will weigh on consumer spending and reduce construction, adding pressure to the government’s target of 1.2 million new homes by the end of the decade.

The Australian

Perth and Brisbane property prices tumble as housing market enters ‘perfect storm’
Growth in the mid-sized capitals has slowed, with Hotspotting data showing conditions cooling in Perth and Brisbane after three interest rate rises and the government’s changes to negative gearing and capital gains tax on established homes.

Centuria Capital warns Australia must build data centres or miss out on AI boom
Investment manager Centuria Capital says Australia is well placed to capture AI-driven demand for data centres but must build more of the complexes or risk missing out.

Australia’s rental crisis deepens as new property developments become unviable
Low vacancy rates, rising construction costs and fewer investors are pushing rents higher, according to the article, which questions whether renters have reached the limit of what they can pay and suggests conditions may worsen.

Treasury documents reveal Labor knew of negative equity risks from its 5pc scheme
Treasury officials were advised that the government’s 5 per cent home deposit scheme could leave first-home buyers more exposed to high loan-to-value ratios, according to internal documents showing differing views on negative equity.

The Sydney Morning Herald

This is how much of a pay rise households needed this year to keep up in property market
Despite falling home values, households looking to buy this year would need thousands of dollars more in income to qualify for a loan on a typical house, as higher mortgage costs offset the lower price, according to new Cotality research.

The Daily Telegraph

City of Sydney reveals plan for controversial $150m Town Hall Square project
The City of Sydney has released plans for its $150 million Town Hall Square project, which would involve demolishing seven buildings in the CBD.

Plans for 11,000 homes in southwest Sydney axed amid escalating housing crisis row
Plans for a major residential and employment precinct in south-west Sydney, described as western Sydney’s answer to Barangaroo, have been abandoned after 10 years and significant spending, leaving 11,000 homes and 23,000 jobs unbuilt.

The Gold Coast Bulletin

Gold Coast Council urged to halt high-rise projects after shock court judgment
A Court of Appeal ruling has cast doubt on Gold Coast high-rise height approvals, with community groups calling on the council to pause luxury development applications.

The Courier Mail

Nervous money men: Is Kokoda’s mega $1.5bn riverside project Teneriffe Banks in peril?
The main financial backer of Kokoda Property Group’s $1.5 billion Teneriffe Banks riverside precinct in Brisbane is reported to be increasingly concerned amid uncertainty over the developer’s finances.

The 100m tower set to change Maroochydore’s skyline forever
Walker Corporation has submitted plans for a 208-apartment tower that would be Maroochydore’s tallest building, a major change to the skyline.

The Adelaide Advertiser

22,000 apartments could tower over 13 major South Australian shopping centres
Thousands of apartments could be built above South Australia’s major shopping centres under a plan to add housing supply, with up to 22,000 apartments proposed across 13 major centres.

The St George & Sutherland Shire Leader

Caringbah’s revitalisation begins with new Coles and apartments
A new full-line Coles supermarket opened in Caringbah on Friday, the first step in the $150 million Caringbah Pavilion project to revitalise what was once Sutherland Shire’s premier shopping precinct.

Two competing visions for Beverly Hills future now on the table
Georges River Council has endorsed the draft Beverly Hills Town Centre Master Plan for 42 days of public exhibition, providing for about 1,345 dwellings and 965 jobs over 20 years.

Council challenges Scully over Southgate towers and other big developments
Sutherland Shire Council is challenging the Southgate development proposal and other high-rise projects at Woolooware, Cronulla and Caringbah.

The Illawarra Mercury

Sky-high Shellharbour: mixed feelings about 10,000 new homes in the CBD
A NSW government proposal to rezone parts of the Shellharbour CBD and the area around the new hospital for thousands of homes and 20-storey towers has drawn mixed views, with some residents arguing the density should instead go to Warrawong.

Up to 20-storeys: streets around Stockland Shellharbour to be home to high-rise under new plan
Apartment blocks up to 20 storeys could be built in the Shellharbour City area under a NSW government plan, with a separate proposal for almost 2000 homes around the new Shellharbour Hospital.