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The NSW Southern Highlands property market remains steady, with both buyers and sellers having more confidence due to a levelling off of interest rates in the first half of 2013, says Herron Todd White in its guide to property investments under half a million. 

“In Bowral, under $500,000 will generally limit buyers to modern townhouses generally priced between $400,000 to $450,000,” reports the valuation firm. 
HTW's review said “a savvy buyer could secure a semi-modern project home in East Bowral, with four bedrooms for between $420,000 to $450,000.” 
With the average rental rates between $400 to $500 per week, the price of a quality home in East Bowral equated to a gross yield of 5.2% to 5.7%. 
According to HTW, the Southern Tablelands (part of which includes the Southern Highlands) offers more choices and affordability to potential investors with lower price entry levels than the Southern Highlands
The city of Goulburn, with a population of around 25,000 and a steady workforce is located close to Canberra and Sydney, which has pumped up sale prices and renewed interest. 
The city is seeing investment properties being snapped up by Canberra investors. 
“The trend in recent years is people purchasing/renting in Goulburn and commuting to Canberra where a stable employment base still exists,” reported HTW.
“Depending on dwelling/land size and the quality of the home, values of modern project style dwellings in Goulburn range between $350,000 and $450,000, and generally attract rentals of $350 to $450 per week, representing a gross yield of around 5%.
“A real option in Goulburn for the $500,000 investor would be to purchase multiple residential units or townhouse/villa properties for between $150,000 and $200,000 each and rent them out for between $150 to $200 per week.”
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Bowral townhouses on the menu for sub-$500,000 investors in Southern Highlands: HTW

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The NSW Central Coast property market is looking like a good opportunity to invest $500,000.
The latest Herron Todd White’s market review, which focuses on investment opportunities under $500,000 says of this market: "You might be surprised at the benefits of buying here".
The review suggests “to look into the northern end of the region, included in the Wyong local government area where real estate prices are as diverse as the properties found there.”
These include “older style dwellings in places like beautiful <a target="_blank" href="/news">Blue Bay</a> or trendy <a target="_blank" href="/news">Norah Head</a>, where you can find “circa 1975, three to four bedroom, single car garage homes, which we think represents good buying,” reports Herron Todd White.
New areas such as <a target="_blank" href="/news">Woongarrah</a>, <a target="_blank" href="/news">Hamlyn Terrace</a> and <a target="_blank" href="/news">Wadalba</a> also provide buyers with fine value homes at prices less than $500,000.
Herron Todd White also reviewed areas such as Summerland Point and Gwandalan which are toward the northern most beaches, saying “they are areas that have threatened to do big things in real estate terms and although they are yet to realise their potential, further development in and around these areas may just provide that kick start.”
Overall, the NSW coastal unit market is looking up with Herron Todd Whites pointing out that “those who have bought units here over the past two years have done well - in fact, $500,000 could easily have purchased two new units at one stage.”
Units that are close to the beach and lake are still selling for under $500,000, and are good area for investment.
“The Entrance is a lovely spot and very popular with day trippers and holiday makers from Sydney,” says the valuation firm.
The southern ends of the region however takes the cake, with areas such as Umina Beach, Woy Woy and Ettalong, leaving investors picking up $500,000 modern three to four bedroom homes with garaging and with “change left over".
“These areas saw high sale volumes in the last round of first home buyer incentives and it has just kept going from there.”
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Plenty of sub-$500,000 investment opportunities on the Central Coast: HTW

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Sydney’s cheapest weekend auction sale price was in the Central Coast suburb of Lake Munmorah, according to Australian Property Monitors.
The one storey brick veneer dwelling at<a target="_blank" href="https://raywhitebudgewoi.com.au/nsw/lake-munmorah/987388/"> 5 Winchester Drive</a><a href="https://www.domain.com.au/Property/For-Sale/House/NSW/Lake-Munmorah/?adid=2010527668" target="_parent"> </a> sold for $227,000 through Ray White Budgewoi.
The three bedroom, one bathroom house last sold for $230,000 in October 2007.
It was listed for sale in March 2012 through to August 2012 with a price of $280, 000, according to RP Data.
It had last been available for rent in November 2012 with a weekly listed rental price of $350, which would equate to a gross yield of around 8% at its latest sale price.
The home was built in 2004 and sits on 402 square metre block.
It is in close proximity to local shops and walking tracks and was “located in a quiet street,” said real estate agent Wendy McLeod. 
The change in the average median price over five years in Lake Munmorah is currently 6.6%, according to RP Data.
The median asking rental price is $330 per week, according to RP Data with the average days on the market at 121.
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Discounted Central Coast home cheapest NSW weekend auction at 8% yield

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Inner city Newcastle is growing rapidly with $500,000 buying you much less compared to what it did 12 months ago, according to Herron Todd White's latest report, which examines investment opportunities under half a million.
The inner city suburbs of <a target="_blank" href="/news">Kotara</a>, <a target="_blank" href="/news">New Lambton Heights</a>, <a target="_parent" href="/news">Waratah</a>, <a target="_blank" href="/news">Tighes Hill,</a> <a target="_blank" href="/news">Georgetown</a> and <a target="_blank" href="/news">Adamstown</a> fitted nicely into the $500,000 mark but recent evidence shows properties in these areas are being snapped up quickly.
HTW valuers report that in Adamstown Heights, a property sold for $85,000 above its listed price of $480,000, with a total of 10 active bidders for the recent Saturday auction. 
This type of sale is not a one off the valuation group says, with prices in neighbouring suburbs also shooting up with higher than average sales as the whole area gets a boost as well as booming favourites Jesmond and Birmingham Gardens.
Another dark horse in Nelson Bay (more famous for having the <a target="_blank" href="https://www.propertyobserver.com.au/residential/nelson-bay-retains-most-delinquent-postcode-crown-but-surfers-paradise-drops-down-list-fitch/2013070162882">highest mortgage delinquency rate in Australia</a>), which HTW says "surprised us all" and experienced a slight jump in sales.
The area is seeing growth in the low priced homes and rental prices which is driving more investor activity. 
The new development areas of Gillieston Heights, Cliftleigh, Aberglasslyn and Singleton are also ready for some investment action with many houses recently finished, sitting vacant and available for rent. 
Local agents currently reported to HTW that around 200 houses in Singleton are vacant and a further 80 or so in Gillieston Heights are all available for tenants.
Although the asking rental price in such areas has fallen quickly from $420 to around $380, the supply of these rental properties far exceeds the demand, a dangerous sign for investors.
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Fewer sub-$500,000 investment opportunities in Newcastle: HTW

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Brett Cripps at Cripps and<a target="_blank" href="https://www.rockpoolcronulla.com.au/"> Cripps Property has sold 2/12 McDonald Street, Cronulla</a> for $4.5 million - a brand new two level apartment on the water in Cronulla.
It's a three bedroom, two bathroom apartment in the Rockpool building.
The two level apartment was listed in March with an asking price of $4,975,000.
There is a four car garage.
It has 372 square metre space.
The two floors are connected by a private lift and stairs with a lift from the basement directly up to the apartment.
Capricorn Sandstone Quarries with stone mason Rossini Stone completed the cladding of the lift shaft in February this year.
The living room opens out to two balconies that look over Cronulla’s famous rock pools and panoramic ocean views.
The flashy apartment comes with a marble ensuite in the master bedroom complete with heated floors and towel rails, a walk-in robe, private balcony, mosaic tiled spa and marble finished powder room.
The kitchen is full of state of the art Miele appliances and a walk in pantry.
<img height="127" width="470" src="/images/stories/2013/07/yieldsbanner.jpg" alt="yieldsbanner">
“Breathtaking views, light, space, privacy and convenience are words to describe this beautiful property. The ocean is so close, you can literally 'feel' the water and all its sights and sounds,” described Brett Cripps.
The median price of units in <a target="_blank" href="/news">Cronulla in 8,500, a jump over the past five years of 20%, with a median asking price for rent sitting at 0 per week</a>, according to RP Data.
<img height="57" width="470" src="/images/stories/2013/05/trophyhomesstrapone.jpg" alt="trophyhomesstrapone">
 

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Trophy Rockpool Cronulla apartment fetches $4.5 million

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Melbourne’s cheapest auction sale price last weekend was in the north-east suburb of Alphington, according to Australian Property Monitors.
Just a hop, skip and a jump from Kew and Ivanhoe, the unit at 6/40 Yarralea Sreet, sold for $252,500, with a starting price guide of $220,000 to $250,000.
Real estate vendors Hocking Stuart advertised the home as "offering affordability with a sought after location, live in with convenience at your fingertips, lease out with this popular location, all with an entry level price tag."
The light filled one bedroom apartment in the heart of Alphington features a kitchen with open meals area, lounge, master bedroom and bathroom as well as laundry facilities, car space on title and gas heater.
The apartment was last listed for rent in March 2013 for $250 per week.
The median price of units in the Alphington sits at $502,000, up over the past five years by 24%, with an average rental price of $325 per week, <a href="/news">according to RP Data</a>.
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Alphington $252,000 sale the week's cheapest auction result for Melbourne

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Wamberal had the cheapest weekend auction sale.
The Central Coast property at 753 The Entrance Road fetched $320,000 through The Professionals Real Estate.
The two bedroom, one bathroom home previously sold in June 2006 for $355,000, so represented a price decline over the past seven years.
It was sold this time by the NSW Roads and Traffic Authority. 
The median house sale price in Wamberal sits at $575,000 which according to RP Data reflects a 9.5% jump over the past five years.
The one storey cottage home was built in 1955 and offered a quite getaway into the beachy surroundings of Wamberal.
Featuring timber floorboards, a federation style bathroom with classic claw foot bath and timber vanity.
There was also an entertaining deck overlooking the backyard.
The 575 square metre cottage was available for rental in late 2011 at  $330 per week.
RP Data suggests the current average asking rent in Wamberal sits at $455 per week.
Professionals Real Estate have also got a 611 square metre, cleared and fenced block of land for sale at 718 The Entrance Rd Wamberal advertised as ‘reduced to sell’.
It too has been listed by the RTA.  
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Wamberal had the weekend's cheapest auction sale

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The eastern Sydney seaside  is home to some spectacular coastal views, with 2 Denning Street, South Coogee, no disappointment especially from its rooftop balcony.
However the two storey home has been up for sale since October 2012, with <a target="_blank" href="https://www.mybhr.com/824671/">BHR estate agent Catherine Bullen </a>seeking offers over $4 million. Its last revealed asking price indication was $4.95 million. 
The four bedroom, two bathroom home is complete with granite floors, waterford crystal chandeliers and a parents retreat with a spacious bathroom, spa and double basins.
The property last sold in 1988 for $500,000.
The change in the median price for homes in South Coogee over the past five years has been 16.2%.
The home sits on a 539 square metre block.
The conjunctional agent Natalie Zulian at Ellison Zulian Property says "nothing has been spared in this quality built home that oozes class and style.’
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South Coogee seaside home sees $950,000 asking price reduction to $4 million plus

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La Joie de Vivre has been sitting unloved by buyers above Sydney’s northern beaches since 2010.
But soon it will be attracting international attention.
The hit reality television show, The Bachelor is heading down under and the Network Ten series will be filmed in the stunning mansion.
Its the home of the former freight tycoon Gregory Poche and wife, Kayvan Norton.
Sydney’s Daily Telegraph reported the production company Shine Australia had chosen the rich lister's home at 68 Minkara Road, Bayview.
It's among spotted gum trees with views from its floor to ceiling windows that will show Australia's native landscape.
The residence was built for Beirut industrialist Agob Dellalian who sold it for $7 million in 2003.
Gregory Poche and wife Kay van Norton bought the property for $10 million in 2003 through Claudio Marcolongo of LJ Hooker Avalon, and Christie's agent Ken Jacobs.
The couple have relocated to Little Manly Cove.
Their lavish French provincial mansion named La Joie de Vivre, meaning the ‘joy of living’ in French, catches impressive 180-degree view of Pittwater.
It’s not the first time the property has been associated with Hollywood. There were silly rumours back in 1996 that Kevin Costner had bought the mansion.
The multimillion dollar home is set on 4091 square metres and features a grand formal dining room, six bedrooms, seven bathrooms, a wine cellar, towering high ceilings and a huge living room space with views of Pittwater at every corner.
Being the home of 25 women and just one lonely man, all bachelor homes require certain luxuries and this French mansion doesn’t disappoint with a wet bar on its sandstone terrace, a heated pool and spa, a sauna, gymnasium and a championship size tennis court and pavilion.
The home is finished off elegantly with 24-carat gold filigree balustrades, a commercial-grade kitchen, ultimate entertainment systems for the bachelorettes, complete with an exit for those without a rose via the semicircular drive and grand foyer.
The median sale price for a home in the suburb is $1,138,000 with a change in the average median price over five years of -12.8%.
Word of the impending filming came after letters were recently received by residents living close to the chosen address outlining the filming schedule for the program, a resident told The Daily Telegraph.
The letter said filming would commence on July 9 and finish up on September 15.
The letter said "crew are fully aware of the limitations and sensitivity required when filming within a residential area and we are making provisions to ensure our impact is reduced, with only essential crew and vehicles entering the area."
Take a video tour of the estate <a href="https://www.maxwalls.com/buying/search/detail?id=ID137" target="_blank">here</a> which was uploaded during its Max Walls International marketing.
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Bayview luxury estate with Sydney harbour views will house The Bachelor

Friends and frenemies&nbsp;of celebrity businesswomen and Celebrity Apprentice contestant, Roxy Jacenko, can&nbsp;get a glimpse into her world.

Her&nbsp;investment cottage, and former home, at 12 Nelson Street, Woollahra has been listed for auction.

It&#39;s&nbsp;chic and contemporary&nbsp;with mirrored wall features. Of course there&#39;s&nbsp;requisite&nbsp;video surveillance and&nbsp;intercom security.

&ldquo;I have decided to list my investment property for sale as I am looking to purchase a commercial property to house Sweaty Betty PR,&rdquo; says&nbsp;Roxy Jacenko.

&ldquo;As far as reports that our family home is for sale - that&rsquo;s incorrect,&rdquo; the Daily Telegraph&#39;s Jonathan Moran reported recently.

The&nbsp;329 square metre&nbsp;property, in Sydney&#39;s high-flying eastern suburbs,&nbsp;&nbsp;has been listed by&nbsp;<a href="https://www.ballardproperty.com.au/Buying/Search/residentialresult/residentialdetail.aspx?id=WOOLLAHRA%202012160&amp;wlid=d6109402-3e32-4f65-8606-b2a93faf28c1" target="_blank">Clint Ballard of Ballard Property Group</a>.

The 33 year old mother, and wife of stockbroker Oliver Curtis, and mother&nbsp;to Pixie Rose and founder of Sweaty Betty PR, bought the two-bedroom, two-bathroom cottage in 2006 for $2.8 million.

Roxy Jacenko is now hoping to receive a sale price of $3.5 million.

The Woollahra home was available for rent in August 2011 through Farquharsons Executive Rentals Double Bay for $1,800 a week.

The current median asking price for rent in Woollahra is $1,200 a week, which reflects a 3.5% yield.

Interior designer and architect for high end hotels, and residential and commercial projects, Blainey North,&nbsp;fitted out&nbsp;the double fronted residence.

The home has been refreshed internally. There&nbsp;is&nbsp;development approval&nbsp;to extend it into four&nbsp;bedroom family home.

The one story, residential home was previously up for sale in&nbsp;2011 with&nbsp;a $3 million price tag.

The average time on market for a home in Woollahra NSW is around 76 days, with its&nbsp;$1.8 million, down&nbsp;1.1% over the past year, according&nbsp;to RP Data.

The home is located a short walk from Queen Street village and in close proximity to the city.

Nelson Street Woollahra listed by Roxy Jacenko

Sherpa Property Group has unveiled the third instalment of its Flourish series, securing full approval for the two-tower, $500 million Flourish Soleira development in Palm Beach.

<a href="https://www.apartments.com.au/new-apartments/flourish-soleira-1150-1154-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> will rise from a prominent site in the commercial heart of Palm Beach, the long-time home of Cash Converters and a range of local retailers.

The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.

[smartcode_project:default project_id=150017 project_image_fid=370959]

“We’re very committed to not only providing affordable residential offerings that are much needed in Palm Beach, but also delivering a vibrant new commercial heart that complements the extraordinary growth of the southern Gold Coast,” Sherpa Property Group founder Christie Leet said.

The development will sit under Sherpa's Flourish brand, which is aimed at providing a pathway into the beachside suburb for locals, first-home buyers and downsizers. In a move designed to assist first-home buyers entering the market, Sherpa has reserved all one and two-bedroom, one-bathroom apartments exclusively for eligible first-home buyers.

[smartcode_project:default project_id=150017 project_image_fid=370964]

“Our vision through Flourish is to create a vibrant retail and lifestyle focal point within the Palm Beach centre zone, delivering thriving communities underpinned by lifestyle-rich locations,” Leet said.

“So far, Flourish has been an incredible success, and we hope to carry this momentum as we progress the next two Flourish projects in Palm Beach.”

[smartcode_project:default project_id=150017 project_image_fid=371430]

Located across 1150-1164 Gold Coast Highway and 3 Sixth Avenue, the development will comprise two towers. The northern tower will deliver 154 apartments, while the southern tower will add a further 132 residences, helping address ongoing demand for new apartments in the tightly held coastal suburb.

Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.

The two towers will be connected by a skybridge, with residents gaining access to a rooftop recreation deck featuring a full-width swimming pool, hot and cold plunge pools, wellness spaces, a gymnasium, private dining facilities, massage treatment rooms, barbecue areas, a basketball court, golf simulator, indoor and outdoor dining spaces, sun lounges and extensive landscaping.

LPS Group is expected to start construction later this year.

Sherpa is already well advanced on construction of its debut Flourish project, Flourish Amargo, located just around the corner from Soleira. Meanwhile, Flourish Oasis, positioned opposite Amargo, recently commenced construction and has nearly sold out its collection of 47 apartments.

[smartcode_project_cta:default project_id=150017]

Joel Robinson

Sherpa unveils $500m mixed-use Palm Beach precinct, Flourish Soleira

Are mortgage holders set to get a reprieve from the RBA in 2026?

Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.

NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.

“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.

"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.

Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.

“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”

Dr Auld said inflation risks and labour market outcomes would be important to watch.

“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”

She said tighter financial conditions are expected to weigh on housing and activity.

“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”

Mortgage relief? NAB forecasts RBA rate cut, not hike, after softer economic conditions

A local downsizer has splashed $6.5 million on a penthouse in Perifa's Alex &amp; Willow development in Crows Nest. 
&nbsp; 
The purchaser sold their long-held family home in the area before embarking on a six-month search for the right apartment. After inspecting a range of options across the Lower North Shore, the buyer returned to <a href="https://www.apartments.com.au/new-apartments/alex-willow-crows-nest-82-90-alexander-street-crows-nest-nsw-2065">Alex &amp; Willow</a>. 
&nbsp; 
The buyer profile reflects the project’s broader purchaser mix. <a>Alex &amp; Willow</a> has attracted predominantly local downsizers looking to transition from larger homes without compromising on space or quality, alongside a smaller cohort of upsizers and investors drawn to the project’s location and design credentials. 
&nbsp; 
The milestone sale comes as the project, developed by&nbsp;<a href="https://www.apartments.com.au/developers/perifa">Perifa</a>&nbsp;and delivered by <a href="https://www.apartments.com.au/builders/versatile-made-construction">Versatile Construction</a>, both part of Versatile Group, reaches 60 per cent sold.

[smartcode_project:default project_id=6680 project_image_fid=371325] 
&nbsp; 
Eddie Mansour, Managing Partner of <a href="https://www.apartments.com.au/project-marketer/ray-white-projects">Ray White Projects</a>, said the result demonstrates not only a headline price but also depth of demand. 
&nbsp; 
“This is an exceptional outcome and a clear reflection of sustained buyer demand for premium, well-located downsizer product,” Mansour said.

“We’re seeing a consistent pattern of local homeowners selling family residences and reinvesting into high-quality apartments that allow them to remain within their community. Alex &amp; Willow has resonated strongly with this group because it offers genuine scale, thoughtful design and immediate proximity to the village.” 
&nbsp; 
The sale reflects a broader and consistent trend of local downsizers actively seeking high-quality, low-maintenance residences close to established village centres. Agents report that demand for this product type has remained resilient, particularly where developments offer a rare combination of scale, design quality and walkable amenity. 
&nbsp;&nbsp; 
Fabrizio Perilli, Managing Director of Perifa and Versatile Group, said the sale marks a defining moment for the project. 
&nbsp; 
“The penthouse sale is a strong endorsement of the quality we have delivered, alongside our partners, and the clear demand from local downsizers for premium, boutique residences in this location,” Perilli said.&nbsp; 
&nbsp; 
“Most importantly, we’re proud to see the Alex &amp; Willow community beginning to take shape. As we move closer to completion, we’re looking forward to welcoming residents and seeing the project come to life.”&nbsp;

[smartcode_project:default project_id=6680 project_image_fid=338516] 
&nbsp; 
Designed by <a href="https://www.apartments.com.au/architects/nettletontribe">Nettleton Tribe</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/richards-stanisich">Richards Stanisich</a>, Alex &amp; Willow is a boutique collection of generously sized two- and three-bedroom residences in the heart of Crows Nest village.&nbsp;

Completion is slated for early 2027.

[smartcode_project_cta:default project_id=6680]

Alex & Willow, Crows Nest penthouse sells off the plan for $6.5 million

Fresh from launching the first stage of its Wollongong precinct, <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place</a>, builder-developer Urban Property Group has unveiled plans for the next phase of the masterplanned community.

Now on public exhibition through the NSW Government's Housing Delivery Authority pathway is a State Significant Development Application for a further 657 homes on the prominent gateway site opposite Beaton Park.

The proposal comprises three buildings, including two build-to-sell towers rising 25 and 30 storeys, delivering 391 apartments, alongside a 12-storey co-living building with 266 residences, making it one of the largest co-living proposals currently planned in regional New South Wales.

Of the apartments proposed in the build-to-sell towers, the majority, 310, are two-bedroom dwellings. The balance comprises 44 one-bedroom apartments and 37 three-bedroom residences. Apartment sizes range from around 50 sqm for one-bedroom homes to approximately 90 sqm for three-bedroom apartments.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="19347059-1612-41a0-9c74-b86a657237f8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%2010.02.18%E2%80%AFAM.png?VersionId=sWXnaCcA.cIC6N8YT1dg5pJ2e1V3Z6z7" />

The submission says the proposal has evolved significantly from its original Housing Delivery Authority application following extensive consultation with the State Design Review Panel and Wollongong City Council.

The final scheme has been designed to align with the emerging vision for the Flinders Street Precinct, an area identified by Council as a future high-density mixed-use neighbourhood capable of accommodating substantial housing growth close to transport, employment and community infrastructure.

According to the design report prepared by COX Architecture, the development aims to "deliver a built outcome consistent with the future character of the Wollongong CBD while responding to the site's unique constraints and opportunities."

"Our vision for the next phase of the site evolution in Wollongong is grounded in three design pillars that guide the design response: place, natural environment and celebration," COX said.

"Inspired by its surroundings and grounded in the stories of place on Wodi Wodi Country, the design proposal acknowledges the established character of its setting while creating a unique and timeless identity that sits harmoniously within it.

"The design proposal responds to its specific site conditions, acknowledging the vegetation, climate, wind conditions and solar access of the site."

The architecture responds directly to the site's position between Wollongong's urban core and its natural landscape setting.

COX identified views towards Mount Keira and the Illawarra Escarpment as defining features of the site, while the upper levels of the towers will also capture expansive views across the city and out to the Pacific Ocean.

The design team has positioned the tallest buildings closer to the rail corridor, where overshadowing impacts can be better managed while establishing a landmark built form on the northern approach into the city.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="79580d5b-500c-4ebf-9629-797146a4a694" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%209.51.59%E2%80%AFAM.png?VersionId=WbTB1EKSG.KDfsfz0F3wp1QVa2oCMGR5" />

Urban Property Group secured the 11,000 sqm Smith Street site in 2022 and has since progressed plans for the broader Keira Place precinct.

Construction recently commenced on the first stage of Keira Place, which will deliver 150 apartments across two residential buildings, including 27 affordable housing apartments and 18 specialist disability accommodation dwellings, alongside activated ground-floor retail and commercial space.

Urban Co-CEO Patrick Elias said the commencement of construction marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/groundbreaking-marks-start-of-construction-at-keira-place-in-wollongong-cbd">Groundbreaking marks start of construction at Keira Place in Wollongong CBD</a>

&nbsp;

&nbsp;

&nbsp;

Urban Property Group unveils trio of towers for next stage of new Wollongong precinct, Keira Place

Central Element is seeking approval for a significant residential redevelopment in Lavender Bay, lodging plans for a dual-tower apartment project that would deliver 163 new homes on a prominent site at the northern gateway to Milsons Point.

The Sydney-based builder-developer has lodged a concurrent rezoning proposal and State Significant Development Application for <a href="https://www.apartments.com.au/new-apartments/64-66-lavender-street-lavender-bay-nsw-2060">64-66 Lavender Street and 3-7 Middlemiss Street</a>, a 2,305 sqm amalgamated site currently occupied by a collection of ageing residential flat buildings.

Designed by SJB, the proposal would replace the existing 32 apartments with two residential towers rising 23 and 32 storeys, comprising 163 apartments including affordable housing managed by a community housing provider. The project forms part of the NSW Government's Housing Delivery Authority program and has been progressing through a fast-tracked state planning pathway since being endorsed for further assessment in 2025.

The proposal is one of the most significant redevelopment opportunities currently under consideration on Sydney's lower north shore, sitting between the high-density towers of Milsons Point and the lower-scale heritage fabric of Lavender Bay.

<img alt="Lavender Bay" data-entity-type="file" data-entity-uuid="93ecf0ee-487d-4292-afc4-0bc9579475d6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%209.30.48%E2%80%AFAM.png?VersionId=PunU2ipMaTxiJcJ8NdMyUlWA7d98eNUb" />

The planning proposal seeks a substantial uplift from the current 12 metre height limit, which would only allow for a four-storey building, however the submission argues a scheme within these limits would not be&nbsp;economically feasible given the complexity of site amalgamation and would fail to maximise housing delivery on land located within walking distance of major transport infrastructure.

SJB said the design evolved significantly following discussions with the Department of Planning, Housing and Infrastructure and independent design review processes.&nbsp;Rather than pursuing a single larger tower, the architects adopted a two-tower approach aimed at reducing perceived bulk, preserving view corridors and creating greater permeability at ground level.

The northern tower would rise 23 storeys and contain 81 apartments, while the southern tower would reach 32 storeys and accommodate 82 apartments. Five basement levels would provide 174 car spaces, 181 bicycle spaces and 10 motorcycle spaces.

"The proposal for 3–7 Middlemiss Street and 64–66 Lavender Street is driven by a clear ambition to complete the Middlemiss Peninsula, delivering the final piece of a carefully evolving urban precinct," SJB noted in its design report.

"Positioned at the threshold between Lavender Bay and the North Sydney CBD, the development is envisioned as a unifying element—one that completes the skyline composition while providing a considered and harmonious transition between the peninsula’s established character and the intensity of the CBD beyond.

"Collectively, the development aspires to create a landmark that is generous, inclusive, and deeply connected to its setting, one that enhances the skyline, strengthens the public realm, and contributes to a more equitable and sustainable urban future."

Communal spaces would be distributed across multiple levels, including landscaped podium gardens, swimming pool facilities, barbecue areas and rooftop-style retreat spaces designed for residents. The proposal delivers more than 1,500 sqm of communal open space and nearly 400 sqm of indoor communal facilities.

<img alt="Central Element" data-entity-type="file" data-entity-uuid="0671c276-6dd8-4cfc-97b0-134a45d2c8cf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%209.30.17%E2%80%AFAM.png?VersionId=90D7lRaCTMTsFx92tIBrHlZcuaV_a4cw" />

A major focus of the planning assessment has been the project's relationship with surrounding public open spaces.

Clark Park, Bradfield Park and Wendy Whiteley's Secret Garden are among the lower north shore's most valued public landscapes, and overshadowing impacts have been closely examined through the design process. Central Element is proposing to also create a new public plaza and pocket park as part of the development.

Central Element has been developing across Sydney since 2010.

They have recently completed their Chatswood tower, Ethos Chatswood, as well as their luxury redevelopment of Coogee's landmark Ballamac House. They are currently selling Pearl Bondi, just seven high-end homes, while future plans include a tower on Hyde Park, and a boutique project in Neutral Bay.

Georgia Westgarth

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