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Jacara Apartments, a part of the Putney Hill masterplanned community located between Putney and Ryde, offers a rooftop garden oasis.
 The rooftop garden was included because more people are looking to embrace green living in close proximity to the city, said Warwick Dowler, Frasers Property project director for development Putney Hill.
 “Growing numbers of home buyers are looking for property that offers an outdoor lifestyle and the opportunity to get back to nature by growing their own herbs and veggies. This trend has been driven by a number of reasons, not least that it is becoming increasingly accepted that greener living leads to better health,” he said.
 The Jacara Apartments are part of almost 800 apartments and houses in the 13.9 hectare <a href="https://www.putneyhill.com.au/" target="_blank">Putney Hill development</a> by Frasers Property.
 Jacara Apartments will offer its new residents a leafy retreat with communal garden beds for growing vegetables and herbs, a putting green, an outdoor barbecue as well as a formal lounge and quiet areas.
 “There are just 70 homes in Jacara Apartments, and we have already received overwhelming interest from the community in this truly unique offering.  Following strong sales last year, in which all of the Putney Hill houses sold, and similarly robust sales of Figtree and Palmera Apartments in 2013, we’re not expecting Jacara Apartments to remain on the market for very long,” said Dowler.
 Although management of the rooftop gardens is yet to be finalised, it is expected that residents may be interested in playing a role, said Dowler.
 “All Jacara residents will have complete access to the rooftop flower beds and vegetable plots, and we ultimately expect they'd be inclined to assist with their harvest and grooming. We are in the planning processes of deciding the intricate details of how the rooftop gardens will be managed, and this information will be confirmed further down the line as the apartments and rooftop gardens come to life,” he said.
 
Jacara Apartments consists of one, two and three bedroom apartments designed by Sydney based architects Cox Richardson known for their large scale projects such as the Lyric Theatre in The Star, Rod Laver Arena in Melbourne and the Brisbane Convention and Exhibition Centre.
 Prices of Jacara apartments range from $405,000 for a one-bedroom apartment, $594,000 for a two-bedroom apartment and $1.09 million for a three bedroom apartment.
 It is expected that sales of Jacara apartments will reach 70% in the coming weeks.

Construction of Jacara apartments is planned for completion in 2015.
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Jacara at Putney Hill apartments offer a rooftop garden retreat

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Crown Group’s Sydney residential development Top Ryde City Living has been named the best high density development at the Urban Development Institute of Australia (UDIA) NSW Awards for Excellence 2013.
The award recognises the development’s good use of space and forward thinking approach, said Iwan Sunito CEO of Crown Group.
“The entire development – from the individual apartments and penthouses to the shared facilities – is testament to the expertise and skills of the development team,” he said.
The 653 apartment development is located above Top Ryde City Shopping Centre. 
Common viewing platforms enjoy views of the Sydney Harbour Bridge, Blue Mountains, Sydney CBD and North Sydney.
“Top Ryde City Living was designed to take maximum advantage of the available space and views - and to utilize natural light and cross-ventilation in each apartment,” said Sunito.
The one- two- and three-bedroom apartments in Top Ryde City Living also enjoy a shared music room, pool and playground.
<a href="https://toprydecityliving.com.au/" target="_blank">Top Ryde City Living</a> will consist of seven buildings. 
 
About 90% of apartments in the first five buildings have sold and more than 300 residents have moved into the apartments so far.
 
 
The apartments that remain are two-bedroom apartments and two-bedroom with study residences.
 
 
The final release of apartments at Top Ryde City Living, named Viva by Crown, will be launched in early September.
Viva by Crown will consist of one- and two- bedroom apartments.
All apartments in the first three towers completed have sold with prices ranging between $525,000 and $2.69 million.
The development is expected to complete construction in mid-2014. 
Crown Group was also the only nominee to win more than one award on the night.
Eastlakes Town Centre, a joint venture between Crown Group and Prosha Pty Ltd, was named best concept design.
The plan of 428 apartments across 11 buildings is scheduled to begin construction next year.
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Crown's Top Ryde City wins UDIA award for high density living

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A 100 hectare turf farm, owned by Achilles "Big Al" Constantinidis' company Checkling Pty Ltd, is listed for auction next month. 
The Windsor Turf holding is for August 9 auction by Ray White Commercial on behalf of receivers and managers, David Clout &amp; Associates.
The property at <a target="_blank" href="https://raywhiterurallifestylesydney.com.au/nsw/windsor/999228/">87 Cornwallis Road, Cornwallis</a>, near Windsor, north-west of Sydney, has operated for more than 35 years on about 100 hectares of land beside the Hawkesbury River, said Karen Mychaelle Seeto of Ray White Commercial.
“The business is open for retail sales 5-1/2 days a week and is operated by an existing management and administration team as well as a farming team,” she told Property Observer.
The sale includes land, business assets, brand name, office and equipment.
“Adjoining the workshop area is a chemical storage shed, 4,000 litre diesel tank, wash down bay and a 10,000 litre poly water tank. There’s also more than 800ml of surface water access licences,” said Seeto.
Windsor Turf has lawns throughout metropolitan Sydney, Central Coast and Illawarra regions and sells turf to high profile projects and home owners.
“Clients have included Fox Studios, local councils, landscapers, government departments, golf courses, sports fields and home owners,” she said.
Constantinidis bought the land in October 2007.
<a target="_blank" href="https://www.propertyobserver.com.au/rural/alluvial-windsor-district-turf-dairy-and-polo-farms-of-achilles-big-al-constantinidis-listed-for-receivership-sale/2012070955487">The property has been for sale on and off since June last year</a>.
The first mortgage is held by Equititrust, the Gold Coast finance firm once headed by Mark McIvor. There are numerous caveats on title including several from Rural Security Holdings, Syndicate Mortgage Solutions, and two from Alex Lankry.
Checkling Pty Ltd  faced proceedings by the NSW Office of State Revenue who claimed the company underpaid $720,715 in unpaid stamp duty. But the case was eventually found in Checkling's favour in 2012 leaving the state government department to pay costs.
The land is among around 17 polo fields in Windsor.
 
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Mortgagee auction of Windsor turf farm associated with Achilles Constantindis 

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 Construction of a $140 million apartment development in North Sydney has reached its highest point marking the occasion recently with a construction industry tradition.
<a target="_blank" href="https://www.138walker.com.au/index">Belevedere at 138 Walker Street</a> (pictured below), North Sydney had its ‘topping out’ ceremony where a tree was placed at the top of the 22 storey building to show it had reached its 84 metre peak. 
<img src="/images/stories/2013/07/belvederejuly25.jpg" width="470" height="370" alt="belvederejuly25"> 
The tradition harks back to when all buildings were made of timber and a tree atop the new structure was a symbol of growth and prosperity.
A number of other residential developments will soon join Belvedere in North Sydney, said Garry Rothwell, founder of Belvedere’s construction company Winten. 
“Belvedere really paved the way for North Sydney’s residential revitalisation. Its approval was followed by half a dozen other high-rise residential projects". 
Other new developments in the suburb include the 48 apartment Atria on Berry Street, The London on Pacific Highway with 46 apartments and Mulberry on Miller Street with 94 apartments. 
“Seeing Belvedere come out of the ground really cements the exciting change that the area is currently experiencing,” he said. 
The 232 apartment development Skye by Crown Group also in North Sydney will begin late this year. 
“The area already offers so much thanks to its great location and good infrastructure, and now there’s also a wide range of apartment options, something that has been lacking in previous years,” said Rothwell. 
Belvedere has one- two- and three-bedroom apartments as well as a lap pool and gym on the rooftop. 
A mix of owner occupiers and investors have been interested in Belvedere including first home buyers and those wanting to upgrade, or downsize from a larger home and have access to beaches, shopping, dining and entertainment on both sides of the harbour. 
There are eight harbour-view three-bedroom apartments yet to sell among the development’s 195 apartments. 
Prices start at $1.71 million for <a target="_blank" href="https://www.realestate.com.au/property-apartment-nsw-north+sydney-108713336">A1602/138 Walker Street North Sydney</a> (pictured below) for a two bedroom apartment with study on 112 square metres. 
<img src="/images/stories/2013/07/northsydneyjuly25one.jpg" width="470" height="353" alt="northsydneyjuly25one"> 
The most expensive apartment yet to sell is a three bedroom apartment on the top floor priced at $3.01 million.
The median sale price of a North Sydney apartment is $1.06 million, according to RP Data.
The median asking rent for a unit is $888 with an indicative gross rental yield of 4.3%. Belvedere’s new residents are expected to move in by Christmas. 
Sales of apartments elsewhere have included a three bedroom apartment at <a href="https://www.realestate.com.au/property-apartment-nsw-north+sydney-113298123?idir=1&amp;ret=realestate/agent/century+21+keynorth+real+estate/naknor/page2" target="_blank">9/171 Walker Street North Sydney</a> (pictured below) sold for $1.06 million in March this year. 
<img src="/images/stories/2013/07/norhtsydneyjuly25two.jpg" width="470" height="325" alt="norhtsydneyjuly25two"> 
A two bedroom unit at 102/59 Miller Street North Sydney (pictured below) sold for $850,000 last month after previously selling for $795,000 in April 2010.
<img src="/images/stories/2013/07/northsydneyjuly25three.jpg" width="470" height="298" alt="northsydneyjuly25three"> 
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Belvedere tops out North Sydney with three bedders the remaining offerings

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A spacious Victorian terrace is for sale in Redfern offering contemporary living on the doorstep of Sydney’s city.
 The recently renovated four-bedroom property at <a href="https://www.spencerservi.com.au/index.cfm?page=for_sale.property&amp;id=3325">51 Pitt Street Redfern</a> (pictured above) is expected to sell for more than $1.8 million.
 Redfern has enjoyed a host of trendy dining and retail opportunities joining the area such as Middle Eastern eatery Kepos Street Kitchen and boutiques such as furnishings store Chee Soon &amp; Fitzgerald, said agent Annie Hodgson of First National Real Estate.
 “It’s really been amazing the change that’s taken place and I think that will continue,” she said.
 The suburb’s changing face has been increasingly evident in its house prices.
 
A renovated four bedroom house at 33 Great Buckingham Street fetched $2,150,000 prior to its recent BresicWhitney auction.
A renovated four-bedroom Victorian terrace at <a href="https://www.realestate.com.au/property-house-nsw-redfern-113785755">274 Chalmers Street Redfern</a> (pictured below) sold for $1.73 million in May.
<img src="/images/stories/2013/07/chalmersrdjuly17.jpg" width="470" height="353" alt="chalmersrdjuly17">
 
A three-bedroom three-storey terrace at <a href="https://www.realestate.com.au/property-house-nsw-redfern-113329723">32 Kepos Street Redfern</a> (pictured below) sold for $1.66 million in April.
<img src="/images/stories/2013/07/crownstjuly17.jpg" width="470" height="353" alt="crownstjuly17">
 
There are still plenty of sub-$1 million buyer opportunities such as 17 Hugo Street, a three bedroom that sold last weekend through EE Real Estate. 
 The median house price in Redfern is $828,000, up 2.9% from last year, according to RP Data.
 “For the right property, the prices are there and I think it’s just going to get better and better,” said Hodgson.
 The size of the two-storey terrace makes it is suitable for a family who does not want to outgrow their new property.
 “It’s a very grand home, it’s a lovely wide home. I think you’d be looking to somebody who would want to live there a long time like a young family,” she said.
 The property last sold in November 2010 for $1.163 million.
 
It will be up for auction on July 27.
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Spacious Victorian terrace at 51 Pitt Street Redfern for sale

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The latest boutique development in Sydney's inner west, Motif, is over 50% sold.
The residences in the 28 apartment block have a high level of design and finishes which has attracted buyers, said agent Steven Chen at McGrath.
 
 

"The benefit of Motif is the boutiqueness," says Chen.
 
 
"They want to be in a smaller complex with not as many neighbours...Coupled with the outstanding location and the boutique nature of the block will ensure strong returns and good capital growth."

 
The majority of purchases so far have been to owner-occupiers.

 
 

Chen says the quality of the 17 Erskineville Road residences is reflective in their price.

A top floor two-bedroom apartment in the same suburb at <a target="_blank" href="https://www.belleproperty.com/selling/NSW/Inner-West/Newtown/Apartment/7P0720-89-3-13-erskineville-road-newtown-nsw-2042">89/3-13 Erskineville Road Newtown</a> sold for $620,000 in April.

The two-level apartment is currently leased for $650 per week and belongs to the Presidio development built in 2001.
The median sale price of a <a href="/news">Newtown</a> unit is $468,000, up 10.1% on last year, according to RP Data.
The median asking rent in the suburb is $420 per week and the indicative gross rental yield is 4.7%.
Motif is designed by SJB Architects, an Australian practice that has recently delivered Casba Apartments Waterloo and Marina Apartments Abbotsford.
Motif's interiors will be styled by BKH Interiors. The New York and Sydney based company has previously worked on Beach House Apartments Bondi Beach and with SJB on Casba Apartments Waterloo.
Sydney landscape designer Jane Irwin Landscape Architecture will style the development’s green spaces.
Motif is expected to complete construction in August 2014.
“We’re probably about $1000 to $3000 per square metres more expensive than the competitive stock out there and it’s been justified by the design and the location,” he said.
Studio <a target="_blank" href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/apartment-newtown-nsw-2042/147340">2-5/17 Erskineville Road Newtown</a> in Motif, the fifth apartment on the second storey, is about 50 square metres and is advertised for $475,000.
Two bedroom <a target="_blank" href="https://www.mcgrath.com.au/buy/apartment-newtown-nsw-2042/183240/?searchID=30547563">3-7/17 Erskineville Road Newtown</a> on the third floor in the same development is 100 square metres and is priced at $880,000.
Motif has recently received some expressions of interest from a bakery and cafe in retail spaces on the development’s ground floor.
“We’ve got five boutique retail properties and they’re ranging sort of from 110 square metres to 150 square metres of retail. They will come on the market in the next month or so,” said Chen.
Motif is a short walk from Newtown train station and 100 metres from the suburb’s retail and cafe strip King Street.
Two-bedroom apartment at <a target="_blank" href="https://www.randw.com.au/833752/">8/398-402 King Street Newtown</a> in another development named Casa on King is being sold off the plan for between $720,000 and $724,000.
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Motif, a Newtown development offering a boutique lifestyle

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A piece of Victorian era history has sold in Sydney’s inner west offering a peek into the suburb’s past.
 
 
The one-bedroom apartment at <a target="_blank" href="https://www.laingsimmons.com.au/property/119266-1/249-johnston-street">1/249 Johnston Street Annandale</a> is one of four residences that was converted from a 19th century Victorian mansion in the 1970s.
 
 
It sold for an undisclosed amount last month after expectations to sell for between $575,000 and $600,000.
 
 
Although the renovated apartment is complete with modern luxuries, it retains some of its original finishes including ornate ceilings, decorative archways and polished timber floorboards, said the property’s sales agent Silvia Vitale from Laing+Simmons.
 
 
 

"The property is a rare piece of history in a location brimming with the conveniences of contemporary life,” she said.

The ground level apartment has a garden courtyard, shared rear garden, spa bath, basement cellar and fireplace.
The location of the 1890s built property is linked to some of Australia's earliest history, said Vitale.
“Johnston Street contains rich historic significance,” she said.
The 380 square metre apartment last sold for $175,000 in December 1995 and was being leased for $430 per week in November last year.

The

 most recent sale in the the building was 4/249 Johnston Street which sold for $500,000 in November 2011.

 
 
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Annandale apartment with a Victorian era past sold

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The former Campsie factory site of electrical appliance maker Sunbeam is now being transformed.
It's now a coffee-culture residential development.
Its third release of 95 Parklife apartments (pictured below) in what's now known as Clemton Park Village are now being sold.
{yoogallery src=[images/stories/2013/07/july3clemtonparktwo]}
Prior to residential zoning, Sunbeam owned the land from 1951 to 2002.
Before this, the block was Mackinders Market Garden farming potatoes, beetroot, carrots, pumpkin and squashes.
<a href="https://www.cpvillage.com.au/index.php" target="_blank">Clemton Park Village</a> will be a 700 apartment development which will also include a mix of retail opportunities including cafes, restaurants, a childcare centre and a supermarket.
The first two stages of the development have now sold about 90% of their residences.
One-bedroom apartments start at $430,000 and apartments with two bedrooms and two bathrooms are priced up to $580,000.
A range of buyers have purchased apartments at Clemton Park, said Nigel Edgar, NSW residential division general manager of developer, Australand.
“Typically half of Clemton Park buyers have been investors and the other half are a mixture between first home buyers and locals who are choosing to downsize.”
Their website is also tailored to prospective Chinese buyers, due to the development’s location.
“There’s a lot of Chinese or Asian residents in the local community and we’re finding that it’s reflective of the mix in the community,” he said.
The median price of an apartment in Campsie is $385,000 up 40% from five years ago, according to RP Data.
The median asking rent for an apartment in the suburb is $370 showing an indicative gross rental yield of 5%.
Within the suburb, a two-bedroom apartment at <a href="https://www.realestate.com.au/property-unit-nsw-campsie-113831771" target="_blank">7/56 Ninth Avenue</a> is on the market for $439,000 after selling for $315,000 in March 2009.
A two-bedroom 1970s apartment at <a href="https://www.realestate.com.au/property-unit-nsw-campsie-113587627" target="_blank">9/138 Ninth Avenue Campsie</a> sold in April for $392,000 after it was sold for $209,000 in November 2005. It is now up for lease at $380 per week.
The first stage of Clemton Park is complete, construction of the second stage will finish in December this year and the final stage of the development will be completed in 2016.
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Former factory site Clemton Park in Campsie releases third lot of apartments with one-bedders starting at $430,000

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There is now an opportunity to rent an apartment in one of Sydney’s newest developments and move in with just your clothes.
The one and two bedroom apartments (pictured below) at One Central Park on Broadway can be fully furnished and fitted with appliances from a teaspoon to a whole sounds system ready for their new tenants to move in.
{yoogallery src=[images/stories/2013/07/july3onecentralpark]}
Furnished apartments that have been completely sourced and installed has been popular in metropolises abroad and is coming to Sydney, said David Butt, <a target="_blank" href="https://www.greencliff.com.au/">Greencliff Realty</a> sales director.
“This trend has been common in cities such as New York, Tokyo, London and Hong Kong for some time – this is definitely the future of Sydney’s property market,” he said.
The reason behind this is the number of residents in these locations who don’t want to buy large amounts of furniture for a short stay in the city.
“These larger cities also tend to attract more transient or short-term occupants such as working holiday visa carriers who need to rent everything for the length of their holiday,” said Butt.
{yoogallery src=[images/stories/2013/07/july3onecentralparktwo]}
Interior designs are by Senija Lukacevic of Focus Design Group who can decorate the apartment according to the tenants' needs.
The cost of an interior designed apartment start at $475 per week for a one bedroom studio to $800 per week for two bedroom apartments.
Apartments can also be rented without furnishings. 
One bedroom suites that previously sold for $480,000-550,000 can now be rented unfurnished for $490-595 per week.
Two bedroom apartments that sold for $700,000-$820,000 can be rented unfurnished for $785-900 per week.
Dual key apartments that were sold for $900,000- $1.2m and are can be leased for $1050- $1300 per week.
The apartments availble to rent are owned by individuals and they are part of 623 apartments in the One Central Park high-rise in residential and commercial development Central Park.
A two-bedroom apartment in the same suburb at <a target="_blank" href="https://www.realestate.com.au/property-apartment-nsw-chippendale-410761403">302/30 Buckland Street Chippendale</a> is available to rent at $800 per week. 
A studio apartment at <a target="_blank" href="https://www.realestate.com.au/property-apartment-nsw-chippendale-410601903">206/82 Abercrombie Street Chippendale</a> has an asking rent of $390 per week.
Despite One Central Park’s position in the city’s educational hub near Sydney University and University of Technology, Sydney, it hasn't been overwhelmed by student rentals.
“I think they’ve got quite a young professional demographic at the moment. They’ve had a really strong demand. And very few uni students even though it’s a student area,” a Greencliff spokesperson said.
'There's a broad cross section of professionals, couples, singles, with a sprinkling of good quality student tenants.
'We have attracted people who are excited by the facade, the newness, the architectural integrity, and wanting to be an early part of this new and exciting community emerging at Central Park.
"The location attracts those wanting walking access to all this position has to offer."
The professional renters have been attracted as Central Park’s exclusive features and its resultant asking rent are higher than that of average Chippendale student housing.
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Furnished or unfurnished? Central Park rental opportunities including interior design

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Two mansions on Brownell Drive in Byron Bay are offering a slice of the luxury beach lifestyle.
 32 Brownell Drive Byron Bay and 41 Brownell Drive Byron Bay are for sale amid a rise in the number of people making the sea change, said agent Graham Dunn of Byron Bay Property Sales.
 “The big observation we’ve had here in the last six month is the number of people moving to Byron Bay...I’ve never seen this before,” he said.
 In the last five years, almost 3% of those under 24 in Byron Bay had left the region while the number of 55 to 74 year olds increased 5.6%, according to the Australian Beach Towns study by PRD Nationwide.
 “More and more people of the baby boomers are retiring now, so we’re seeing more of them now,” said Dunn.
 However, with the ease of telecommuting to work and doing business over the internet, Dunn says other age groups are also moving to the coastal city.
 “More and more people are seeking the lifestyle and if you’re working hard you might as well live the lifestyle,” he said.
 <a target="_blank" href="https://www.realestate.com.au/property-house-nsw-byron+bay-107264235">32 Brownell Drive Byron Bay</a> is a four-bedroom villa for sale off the plan for $3.8 million. The 800 square metre block of land it will sit on is the result of a recent subdivision.
 
The property has now been on the market since March 2011 after last selling for $2.03 million in July 2007 and $1.8 million in March 2002.
 <a target="_blank" href="https://www.realestate.com.au/property-house-nsw-byron+bay-105034092">41 Brownell Drive Byron Bay</a> is a four-bedroom house with pool on 911 square metres is for sale for $5.5 million. The two storey property has been on the market since July 2008.
 A four-bedroom house on about 820 square metres at <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-byron-bay-nsw-2481/168357">21 Brownell Drive Byron Bay</a> sold for $5.6 million in December last year after previously selling for $3.325 in September 2010.
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Two Brownell Drive, Byron Bay mansions for sale aimed at wealthy seachangers

For the first time in a long time, Australia's inflation story is starting to look more like a landing than a fight.

The latest Consumer Price Index figures from the Australian Bureau of Statistics showed annual inflation eased to four per cent in May, down from 4.2 per cent in April. On the surface, that might not seem like a major move. Inflation remains above the Reserve Bank's target range and some categories continue to record stubborn price growth.

But the significance of this result lies less in where inflation sits today and more in what it means for where interest rates are likely heading next.

The biggest takeaway is that inflation continues to move in the right direction.

Markets had been bracing for another sticky result after a period where progress appeared to stall. Instead, headline inflation came in softer than expected, helped by falling fuel prices and easing transport costs. Annual transport inflation halved from 6.6 per cent in April to 3.3 per cent in May, while automotive fuel prices fell 11.9 per cent during the month following lower oil prices and the impact of reduced fuel excise measures.

While petrol prices don't solve Australia's affordability challenges, they are one of the most visible and immediate costs for consumers. Falling fuel costs feed through the economy quickly, helping ease pressure on household budgets and business operating expenses.

The ABS data also showed headline inflation is now sitting at its lowest annual level in several months, reinforcing the broader trend that price growth is gradually moderating.

That trend is important because it aligns with what many economists and lenders have been saying for the last month.

Prior to this week's inflation data, ANZ, NAB and Commonwealth Bank had all shifted their forecasts, now believing the Reserve Bank had likely reached the peak of the interest rate cycle. Following the May inflation release, ANZ reaffirmed that view.

In its latest economic update, ANZ said it expects quarterly trimmed mean inflation to come in at 3.7 per cent for the June quarter, slightly below the Reserve Bank's forecast of 3.8 per cent. Importantly, the bank said that outcome, when combined with slowing economic activity, "supports our view that the cash rate has peaked".

The Reserve Bank has spent the better part of three years attempting to bring inflation under control through higher interest rates. If Australia's major banks are correct and rates have now peaked, the conversation shifts from how much higher rates could go to when they might begin coming down.

Westpac's caution comes from underlying inflation. The trimmed mean, the measure most closely watched by the Reserve Bank, increased from 3.4 per cent to 3.6 per cent annually. Housing inflation remains elevated at 6.5 per cent, reflecting ongoing increases in rents, electricity costs and new dwelling construction.

Electricity prices remain particularly problematic, rising 21.1 per cent over the past year following the removal of government rebates.

Housing construction costs are also showing signs of renewed pressure. ANZ noted new dwelling costs rose 0.9 per cent in May and are now running at an annualised pace of 8.6 per cent over the past three months. Builders continue to face higher labour, fuel and material costs, a reminder that inflationary pressures have not completely disappeared.

Housing affordability has deteriorated largely because of higher interest rates rather than higher property prices alone. Even modest reductions in mortgage rates would improve borrowing capacity, increase buyer confidence and reduce repayment pressure on existing homeowners.

While August is far from a certainty, the latest inflation result has strengthened the view that the next move in rates is more likely to be down than up. For borrowers, buyers and the development sector, that alone represents a significant shift from the conversation that dominated much of the past two years.

Joel Robinson

The inflation result the property market was waiting for

Commercial property group FiveX is doubling down on its move into the residential space.

The group, founded by Joshua and Marko Berger more than five decades ago, has followed up its plans for a 39-storey tower on North Sydney's Alfred Street with a proposed 61-storey tower in Chatswood.

The new tower at <a href="https://www.apartments.com.au/new-apartments/815-pacific-highway-chatswood-nsw-2067">815 Pacific Highway</a>, which would be one of the tallest proposed in Chatswood in recent years, will comprise 490 apartments, 76 of which will be dedicated affordable housing and managed by Evolve Housing for a minimum of 15 years.

The project will replace the long-standing Panorama Building, originally known as the BMA Tower, a 14-storey office building completed in 1972 and designed by Hungarian-born architect Hugo Stossel. At the time of its completion, the building was the tallest structure in Chatswood and became a local landmark due to its distinctive curved form and external glass lift.

<img alt="FiveX" data-entity-type="file" data-entity-uuid="956bd299-3864-47a0-8ea6-162b5524c5d8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-24%20at%201.02.03%E2%80%AFPM.png?VersionId=EWx7teUr7RcYrI9mgRytwppwt5AdUDtb" />

fjcstudio is behind the designs. Its Architectural Design Report argues the ageing commercial building no longer reflects Chatswood's role as one of Sydney's key strategic centres and that the site is ideally positioned to support significantly higher residential density.

"The site is located at the heart of Chatswood, within the TOD accelerated rezoning area that supports higher density development around the new Metro station," the report states.

"The site's role within a walkable 400-metre radius catchment is where housing, employment, retail and community uses are encouraged to cluster in support of transit-oriented living."

<img alt="fjc" data-entity-type="file" data-entity-uuid="8d198f5e-cc71-4175-9357-be6ec7207473" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-24%20at%201.18.27%E2%80%AFPM.png?VersionId=5WUFc3IYBPvhQMBUYLCsjJhzdcVeYodE" />

The proposal has undergone two rounds of review by the NSW State Design Review Panel, with the design evolving through an extensive assessment process focused on design excellence, public realm outcomes, residential amenity and the integration of affordable housing.

fjcstudio says the residential component provides a diverse mix of apartment typologies, supporting a broad demographic and contributing to housing supply in a highly accessible location close to major transport, employment and retail infrastructure.

The application follows FiveX's plans for a 39-storey tower at <a href="https://www.apartments.com.au/new-apartments/275-alfred-street-north-north-sydney-nsw-2060">275 Alfred Street</a>, which it <a href="https://www.apartments.com.au/new-apartments/275-alfred-street-north-north-sydney-nsw-2060">submitted through the same NSW Government pathway</a> in December. That's for 184 apartments.

Recent activity in Chatswood includes Hyecorp launching its Archer Street project, Celine, and Develotek securing approval for a 34-storey tower.

First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans

Bridgewell Capital and SLD Development seem to be bullish on the Killara apartment market, filing plans for a second new development next to the Killara Golf Club.

The new plans are for 79 apartments across an amalgamated 4,989 sqm site on Buckingham Road.&nbsp;The project has been designed by BKA Architecture and is being assessed under the NSW Government's Low and Mid-Rise Housing and Infill Affordable Housing reforms. It is just 300 metres from&nbsp;Killara train station.

The majority of the apartments are three-bedrooms (46), with 23 two-bedroom apartments, seven one-beds, and three four-bedroom apartments. 17 of the apartments&nbsp;are proposed as affordable housing, representing 15 per cent of the project's gross floor area, allowing the development to access additional floor space and height incentives available under the NSW Housing SEPP.

There will be 131 resident and visitor car spaces, and more than&nbsp;1,450 sqm of communal open space. Landscaped areas would account for approximately 45 per cent of the site.

<img alt="Killara" data-entity-type="file" data-entity-uuid="75ef5ef7-a53b-4932-a8f1-38f63169eec9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-24%20at%2011.04.00%E2%80%AFAM.png?VersionId=d_lG1A1StDaMQilljy25Fr8SF1BnAmKE" />

The site currently contains three detached dwellings and occupies a prominent position on the eastern side of Buckingham Road, with frontage to an area that has already begun transitioning towards higher-density housing. Existing apartment buildings of up to six storeys surround the site, while the Killara Golf Club forms its southern boundary.

The application has been lodged as a State Significant Development due to the affordable housing component and the scale of the project.

According to the design report, the proposal has been shaped by the area's evolving planning framework, which is encouraging greater housing density around transport infrastructure.

"The site sits along a growth area anticipated to undergo transformation in line with broader trends across New South Wales, driven by the implementation of the Low and Mid-Rise and Transport-Oriented Development State Housing Policies," the report states.

"Being within 800 metres walking distance to Killara Train Station, the project seeks to provide high-quality apartments designed for various family sizes, located in a vibrant landscaped setting."

The Upper North Shore suburb has become one of the most closely watched testing grounds for the NSW Government's housing reforms. A number of developers have moved quickly to consolidate sites around railway stations across suburbs including Killara, Lindfield, Gordon and Roseville, where the new planning settings are creating opportunities for apartment developments that would previously have been difficult to achieve.

The likes of Aqualand, Hyecorp, Holdmark and Vermont Property Group have projects in the region.

Bridgewell has several developments in the pipeline. Last September they submitted plans for <a href="https://www.apartments.com.au/news/nsw/bridgewell-capital-seeks-55-apartment-project-in-killara">55 new apartments</a> at&nbsp;23-25 Lorne Avenue in Killara, just the other side of Regimental Park from their new project. In May they filed for <a href="https://www.apartments.com.au/news/nsw/first-look-bridgewell-plots-120-apartments-and-childcare-centre-in-maroubra-town-centre">120 apartments in Maroubra</a>.

&nbsp;

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First look: Bridgewell, SLD Development double down on Killara Golf Club

Sydney developer&nbsp;<a href="https://www.apartments.com.au/developers/central-element">Central Element</a>&nbsp;is doubling down in Drummoyne, lodging plans for a boutique apartment development on St Georges Crescent, only one-kilometre down the road from its first Drummoyne development, Bianca.

The new project at 15A-21 St Georges Crescent,&nbsp;a&nbsp;1,701sqm north-facing site overlooking Iron Cove, will have 45 apartmnts across 10 levels. Eight of the units will be dedicated to affordable housing.

The site sits within walking distance of Drummoyne Village, Birkenhead Point, ferry services and the Bay Run, and offers harbour views towards the Sydney Harbour Bridge and CBD skyline.

Designed by MHN Design Union, the development will deliver a mix of one, two and three-bedroom apartments, alongside resident amenity including a gym, landscaped communal open space and three levels of basement parking.

The project has been lodged under the NSW Government's Low and Mid-Rise Housing reforms, with Drummoyne Village identified as a town centre capable of accommodating additional housing supply.

Central Element acquired the site earlier this year as part of its continued expansion across Sydney's eastern suburbs, lower north shore and inner west.

The developer's current pipeline includes luxury apartment projects Pearl Bondi and a separate development on Lamrock Avenue in Bondi, a residential project in Barry Street, Neutral Bay, and a mixed-use seniors living community in Greenwich.

Central Element Managing Director Nathan Chivas said the project would address a shortage of new owner-occupier housing opportunities in Drummoyne.

"While we're seeing a significant shift across Canada Bay as major infrastructure investment, population growth and planning reform drive a new chapter for the region, in suburbs like Drummoyne there remains a genuine shortage of new boutique luxury housing opportunities for owner occupiers," Chivas said.

"Sites of this nature are increasingly difficult to secure, particularly those that combine a north-facing aspect with direct water outlook. Our St Georges Crescent project responds directly to the market demand, offering a level of exclusivity, outlook and lifestyle in the highly sought after suburb."

The development application has been lodged with the City of Canada Bay Council, with the project expected to launch to market in early 2027.

&nbsp;

Central Element seeks second Drummoyne apartment development

The NSW Government has unveiled plans that could deliver around 1,300 new homes across Nowra and Kiama, continuing its push to unlock housing in well-located regional centres along the South Coast.

The proposals, now on public exhibition, would pave the way for around 830 homes in Nowra and a further 450 homes in Kiama, while also introducing affordable housing requirements and increased building heights in key locations.

The larger of the two proposals is centred on Nowra, where the NSW Government is seeking to rezone land within the Mandalay and Riverfront precincts.

The Mandalay sub-precinct, located close to Shoalhaven Memorial Hospital, Nowra Library and the city's aquatic centre, could accommodate around 530 new homes. Around 30 per cent of housing delivered on Homes NSW-owned land would be dedicated to social and affordable housing, equating to roughly 100 homes. Building heights would increase from the current two-storey limit to between three and six storeys.

A separate rezoning proposal for the Nowra Riverfront Precinct would unlock a further 377 homes while creating stronger connections between the Shoalhaven River and the CBD. The plans include building heights ranging from five to 12 storeys, floor space ratios of up to 2:1 and a requirement for two per cent affordable housing.

Together, the two proposals would deliver more than 900 homes across the broader Nowra area, reinforcing the city's role as one of regional NSW's key growth centres.

The housing push builds on previous infrastructure commitments in the Shoalhaven, including government funding aimed at supporting thousands of future homes in West Nowra through upgrades to water and wastewater infrastructure.

Further north, the NSW Government is also progressing plans for the former Kiama Depot site, a two-hectare parcel near Kiama's town centre.

The rezoning proposal would transform the former industrial site into a residential community capable of delivering up to 450 homes. Buildings would range between six and eight storeys, with at least 10 per cent of homes allocated as affordable housing. The proposal also includes approximately 600 parking spaces and improved walking and cycling connections.

Planning Minister Paul Scully said the proposals are designed to increase housing supply in locations close to jobs, transport and services.

"For too long, families have struggled to find somewhere to live, and activating underutilised sites allows us to deliver the new homes these families need," Scully said.

"The Minns Labor Government is getting on with the job of unlocking well-located sites close to transport, jobs, and town centres and building the homes our communities need.

"These rezonings are about removing barriers to housing delivery and making sure land is put to better use so more people can find a place to call home within the communities they choose."

The latest rezonings form part of the Minns Government's broader strategy to accelerate housing delivery across NSW, particularly in established centres where existing infrastructure can support additional population growth.

Community consultation on the proposals is now underway, with feedback set to inform the final planning controls before the rezonings are determined.

Charmaine Wong

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