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Real estate agents are seizing the likelihood that suburbs along the mooted light rail lines in Sydney will benefit the surrounding housing market.
 
Randwick, which would be connected to the city via the south east light rail, has experienced added value from investors as as a result of the mooted tram link, said agent Theo Karangis from NG Farah Coogee.
 “I could already see now a big of movement upwards, we’re achieving some really good results. We’ve sold over 40 apartments this year alone and our open for inspections has definitely increased,” he said.
 Some $423 million from the state budget has been set aside to allocated over four years to the 12km light rail connecting Circular, Central and George Street to the entertainment precincts of Randwick Racecourse, Moore Park’s sports grounds, and hubs University of NSW and Prince of Wales Hospital.
 The Randwick area, which has a significant student population who attend nearby universities, is currently serviced by buses and can experience traffic congestion to Sydney’s CBD during peak times.
 Recently, more families of tertiary students have been buying into the area for their children to live in while they study at nearby universities and then using the property as an investment when their children graduate.
 These investors could capitalise on the growing house prices, said Karangis.
 “We’re achieving the higher end prices in Randwick. Before that, those prices were just in Coogee,” he said.
 The light rail could also bring in a new lifestyle to the suburbs they service.
 Dulwich Hill, whose 5.6km extension to the inner west light rail extension is currently under construction, has seen urban gentrification with more retail opportunities and stores like Gleebooks and gourmet deli The Larder joining the suburb.
 The new transport has quickened the pace of the lifestyle change, offering the cafe lifestyle to a more affordable part of the inner west, said agent Adrian Abrook from LJ Hooker Dulwich Hill.
 “This just gives us another opportunity to get other buyers who may be looking at this market to explore it,” he said.
 
Dulwich Hill will be one of nine stops on the extension planned to open next year. Nine new stops will be added to the current services. $76 million over four years was allocated to the inner west line from the state budget.
 However, some residents in Surry Hills lobbying against the proposed route of the South East Light Rail are concerned the tram link will have a negative impact on their properties.
 The transport construction and long term effects of the light rail will impact on surrounding retail as well as the liveability of the suburb, said Venietta Slama-Powell, founder and convenor of community lobby group PUSH (People Unite Surry Hills).
 “Properties directly on the route are at risk of being severely financially affected. Considerations to increase in noise, visual outlook, traffic congestion, safety, property access and importantly parking. We have been advised that loss of parking can reduce a property by 20%,” she said.
 The light rail route is planned for Surry Hill’s Devonshire Street via Chalmers Street to reach the city centre.
 The community group would like to work with the state government to ensure the tram line doesn’t impact upon residents and existing retails.
 “PUSH and many community members support the concept of light rail, a Surry Hills route and stops. But our team and Engineering Panel believe the initial Government proposal can be greatly improved by the application of local input, as happened with the Eastern Distributor, and a solution that is more likely to have a positive impact on most, if not all property prices,” she said.</body></html>

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Plans for Sydney's light rail lines are already having an effect

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Two winning design submissions are expected to be announced next week for the residential and commercial development Central Park in Sydney’s CBD.  
Six architectural firms were invited to submit designs for Block 8 and Block 11 of Central Park by Frasers Property Australia in Chippendale.  
Block 11 will have 320 apartments across nine to 14 storeys. Townhouses and a childcare centre may also be added.  
Block 8 will be a 180 apartment building of eight to 14 storeys.  
The competition was a part of Central Park’s modified concept plan in an endeavour to ensure consistent design excellence across the precinct.  
Central Park joins a number of other high-profile developments to be constructed by designs procured by competition including James Packer's  Crown Hotel Sydney at Barangaroo, a new cultural precinct in Evandale on the Gold Coast, Flinders Street Station in Melbourne’s CBD and Monash University’s $150 million l<a href="https://monash.edu/giving/law-bus-building/details" target="_blank">aw, business and economics complex</a> in Melbourne’s south-east.  
More developers may be realising the advantages of this process, said Ross Clark, chief operating officer of the Australian Institute of Architects.  
“It’s perhaps that developers are increasingly understanding where their project has a public profile or a community element to it that engaging in a competitive process has benefits in it,” he said.  
A number of submissions can be helpful for developers who are unsure of what they want as a opposed to working alongside an architect to create a brief for the structure but this doesn’t necessarily mean a better quality design.  
“What ought to be improved is the developer or client’s alignment with that design because they get to choose from the designs, especially if they’re not clear with what they want,” said Clark.  
However, choosing an architect on their design alone isn’t failsafe as the winner could have difficulty in other areas of the process such as working with builders or construction, said Clark.  
“It’s both less risky and more risky...if you commit to a competition depending on how it’s structured, you have to take the team that wins the competition,” he said.  
Three of the architecture firms invited to compete have previously worked with Frasers. PTW Architects and Smart Design Studios worked with Frasers on One Central Park and Nettletontribe designed the proposed student residences on Abercrombie Stret.
 Bates Smart, Tony Caro Architectural and Richard Francis-Jones, who have had no previous business with Frasers, were also invited to submit designs.
The successful designs will have to be unique but also comply with environmental standards, said a spokesperson for Frasers Property Australia.  
“We're looking for interesting, original architecture which is complimentary to the Central Park precinct...The winning designs also need to comply with the modified concept plan approval for height, mass and GFA, and achieve a minimum 5 green stars under the Green Building Society of Australia's rating tool - as is the case for all buildings at Central Park (for which a rating tool exists).”
The two winning designs will be developed for state significance development applications to go to the NSW Department of Planning and Infrastructure in September.
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Central Park design competition

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Investors have taken root in a 'garden living' townhouse development in northern Melbourne which offers shared garden spaces and encourages a communal atmosphere.
Six of the 14 townhouses, located at 350 Clarke Street, Northcote, have sold since November last year. Construction of the development is planned for May.
The six three-bedroom properties sold for between $695,000 and $830,000 through Michael Robinson and Tayna Sanchez at Look Property Group.
Residents will be encouraged to harvest fresh produce - such as herbs and other edible plants - that will line shared corridors between the three-level townhouses. Residents will also have their own individual gardens, the price of which is included in property.
<img height="297" width="470" src="/images/stories/2013/02/northcotefeb27two.jpg" alt="northcotefeb27two">
The gardens are designed by Melbourne duo Justin Hutchinson and Shawn Ashkanasy, from Urban Commons, who aim to blend the community garden into everyday urban spaces.
Mr Ashkanasy says the edible gardens - replete with mint, sage, thyme and decorative plants - will bring the townhouse community together.
"It's using food as a focal point to meet their neighbours and connect with their neighbours," he said.
"Living in the city doesn't mean giving up the civilility between neighbours."
<img height="620" width="470" src="/images/stories/2013/02/northcotefeb27three.jpg" alt="northcotefeb27three">
A spokesman for the development says mix of buyers have been attracted to the townhouses, which span between 130 square metres and 167 square metres.
“The overwhelming majority of purchasers are local residents who recognise the value of the area; two purchasers are currently residing in Clarke Street," the spokesperson said.
"Generally, we have seen a younger demographic of purchaser, from young couples to young families, along with two investor sales.”
The complex will have its own café from roasting house Padre Coffee, which is known for nearby The Brunswick East Project.
Foodies will also appreciate hops vines on the north facing facade and olive trees for shade.
Mr Ashkanasy said that using the olive species is a way to add to the established Greek and Italian communities in the established suburb in Northcote. "We know that these things bring a lot of value to the cultural memories."
Body corporate will maintain the edible plants found in the shared 'corridor' spaces between townhouses, whereas residents with green thumbs will tend to their own edible plant walls.
Melbourne developer Kalex designed the townhouses, which was founded by Kyp Bosci ten years ago.
Prices for the remaining townhouses range from $695,000 to $825,000.
The design of the complex has scored 6.5 stars out of 10 in energy efficiency according to the National Construction Code of Australia (NCC). A rating of 6 out of 10 is the regulatory requirement for all new homes.
<img height="606" width="470" src="/images/stories/2013/02/northcotefeb27one.jpg" alt="northcotefeb27one">
Georgina Jeffries and Pip McCully at Designs of Wonder have fashioned the interiors featuring plenty of natural light, high ceilings and natural air flow.
Northcote’s median house price is currently $771,000 after falling from $828,500 during its peak in 2011, according to RP Data.
A three-bedroom terrace house on the same street sold for $841 000 in October 2012.
The median asking rent for a Northcote house is $520 with an indicative gross rental yield of 3.5%.
The median rent for a Northcote unit is $348, with an indicative gross rental yeidl of 3.9%.
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A nearby three-bedroom villa on Clarke Street is being rented at $570 per week.
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Edible gardens come with popular Clarke Street, Northcote apartment offering

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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