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Harley Dale, chief economist at the Housing Industry Association, acknowledges that Sydney is out there on its own.
“Everybody will remain in a tizzy about Sydney through the rest of the year," he said.
But while Sydney and  Melbourne will continue to record strong growth in housing prices, Dale says most  other markets in Australia will register little or no price movement Increased unemployment and stagnant household incomes  will outweigh cheaper home loans and investor appetite so he expects national house price growth will slow down over the next 12 months even if some pockets in capital cities post another bumper return for the period.
“There are literally thousands of property markets around Australia,” Mr Dale told The New Daily.
"Sydney looks to be  well out in front, Melbourne is kind of in the race, Brisbane is accelerating from effectively last place,  and the rest have some training to do.
"National housing price boom – rubbish!”
National price acceleration is unlikely.
"Headlines of a ‘national housing price boom’ will remain  erroneous and, at times, almost irresponsible, because there are negatives as well as positives.
“Sydney is an ‘out there’ market which is outperforming now following a decade of underperformance," he said.
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jchancellor-FAypfDUnLy

Sydney out on its own, but no 2015 housing crash: HIA's Harley Dale

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Balaam, the 2006 contemporary eight bedroom Hamilton home in Brisbane has been sold by the property developer Don O'Rorke with his wife Natasha.
It reportedly fetched <a href="https://www.realestate.com.au/property-house-qld-hamilton-119077539" target="_blank">around $12 million</a> to a Gold Coast buyer.
They and their seven children; Allie, 24, Izzy, 21, Tom, 11, Oliver, 10, twins Jonathan and Chloe, 7, and William, 5, are off to Brookfield acreage in the western suburbs.
Set on one of Brisbane’s most prized riverfront streets, the Hamilton home called Balaam has eight bedrooms and nine bathrooms at 33b Harbour Road. 
It was listed in the 100 Dream Houses from Downunder book. It was listed through Ray White New Farm agent Matt Lancashire who described it is as a meticulously designed 1,034 square metre palatial family home.
Set across its 1,609 square metre block, the house was designed by Shaun Lockyer, <a href="https://www.arkhefield.com.au/projects/balaam-house/#sthash.ZUCW5pGu.dpbs" target="_blank">built from white concrete, timber and zinc</a>. 
Arkhefeild was the design architect and interior designer, with the project managed by Blades Project Management.
Brisbane's top home sale was last August when $14 million was paid by mining magnate Gina Rinehart in Hawthorne, along with the neighbouring $4 million holding.
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Brisbane home sold by Don O'Rorke in $12 million riverfront resurgence

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Fossil Downs Station, the jewel of WA's pastoral industry, has been listed for sale by the Henwood family.
Covering almost 400,000 hectares where the Fitzroy and Margaret Rivers meet, the legend of <a href="https://regionalwa.eldersrealestate.com.au/rural/buy/property-cropping-wa-derby-617707">Fossil Downs</a> started when Donald MacDonald rode from Derby in the tracks of Alexander Forrest to inspect the land and negotiated its lease in 1882.
His brothers William and Charles then set off on possibly the longest cattle drive in history - about 5600 kilometres from near Goulburn, NSW, through the outback and across the Top End to the Kimberley.
They left with 670 head of cattle, arriving 42 months later with 327 cattle. 
A waterbag the MacDonald brothers carried on their epic cattle drive hangs above the hallway in the heritage-listed homestead, dubbed the "Taj Mahal of the Kimberley".
It is true Australiana as its billiard table was bought for 28 pounds after dragged from the remains of a direct hit on Broome's billiard hall by Japanese bombers in World War II.
The MacDonald's granddaughter is Annette Henwood who runs the farm with husband John whose family ties to the Kimberley stretch back longer than hers.
John Henwood's grandfather George Rose was a horse carer on the Forrest expedition of 1879 that triggered excitement about grazing in the Ord and Fitzroy valleys.
They have been herding mainly Droughtmaster cattle, sometimes mustering in his Cessna 182. It is located 430 kms to the live cattle export port of Broome and 30 kms to Fitzroy Crossing township. 
Offers close July 2 for the property has potential to carry more cattle and for tourism, including parts of the King Leopold Ranges and Leopold River, spectacular gorges, billabongs and vast plains.
Veteran real estate executive Malcolm French told the West Australian newspaper he had seen nothing that compared to Fossil Downs in 50 years with Elders.
He declined to speculate on the price but industry sources put it close to $30 million.
"I feel an absolute traitor," <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/radionational/programs/bushtelegraph/annette-mcdonald/5895778" style="line-height: 1.3em;">Annette Henwood</a>, who was featured on the farm in a <a href="https://www.propertyobserver.com.au/https://trove.nla.gov.au/ndp/del/page/4389335?zoomLevel=1" style="line-height: 1.3em;">1952 Australian Women's Weekly article</a>, said.
"I never wanted to be the MacDonald who quit," she said.
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Fossil Downs, the Taj Mahal of the Kimberley's listed 

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Greg Medcraft, chairman of the Australian Securities and Investments Commission, has issued a warning about the danger of heated property markets.
"I am quite worried about the Sydney and Melbourne property markets," Mr Medcraft told The Australian Financial Review.
"In housing, the long-term average income to average price ratio is four to five times but at the moment it is at historic highs.
"History shows that people don't know when they are in a bubble until it's over."
The ASIC chairman warned there was always danger when rates got so low.
"That's when people start borrowing when they can't afford it.
"What generally happens is rates starts to rise which affects your ability to pay, and rate rises can actually bust a bubble, so you end up with a double whammy," Mr Medcraft said.
Mr Medcraft was troubled by this month's ANZ financial literacy study which showed those who rated diversification over a five-year investment as "very important" or "quite important" fell to its lowest level since the surveys began in 2002.
"The super funds which buy residential houses as the only assets in their fund – obviously that's diversification thrown out the window," Mr Medcraft said.
The ANZ study also found the number who could recognise an investment as "too good to be true" fell to 50%.
"This invigorates our efforts, frankly. It's shocking, it's really shocking," Mr Medcraft said.
"We know what happens in low interest rate environments people are searching for yield. They start buying more complex products they don't understand," he said.
ASIC is preparing for a major crackdown on property spruiking to SMSFs.
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History shows people don't know it is a housing bubble until it's over: ASIC's Greg Medcraft

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The New Zealand's government will tighten tax rules on residential property profit taking for investors, including foreigners.
From October 1, gains on residential property sold within two years of purchase will be taxed unless it is the seller's main home, inherited from a deceased estate or transferred as part of a relationship property settlement.
The Finance Minister Bill English said non-resident buyers must have a New Zealand bank account and Inland Revenue tax identification number.
“People calling for a new capital gains tax often overlook the fact that, under existing rules, anyone buying property with the intention of selling for a gain is liable for tax on that gain,” Mr Key told the National Party’s Lower North Island regional conference in Lower Hutt yesterday.
“Everyone – whether from New Zealand or overseas – should pay their fair share of tax according to the law. So we need to ensure the existing law is enforced.”
The changes will be subject to consultation and take effect on 1 October this year.
The “bright line” test will apply to properties bought on or after that date.
“These measures will not affect New Zealanders’ main home, although existing tax rules will still apply in addition to these new steps,” Mr Key was reported as saying on the NBR website.
“They are aimed squarely at ensuring that property buyers – including overseas speculators – who buy residential property with the intention of selling for a gain pay their fair share of tax as required by the law.
“It’s not unreasonable to expect that if you buy an investment property and sell it for a gain within two years, then you should be taxed on that gain.
“This is quite different from an investor buying with a long-term view of renting their property to tenants. And it’s completely different to New Zealand owner-occupiers who have worked hard to buy their family home.”
It is expected to take some of the heat out of Auckland's housing market and sit alongside the Reserve Bank of New Zealand who will require residential property investors in Auckland to place a minimum deposit of 30% to qualify for a mortgage effective October 1.
Auckland house prices jumped 16.9% annually compared to 3.2% in the rest of the country, posing a risk to financial stability, the RBNZ said.
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NZ introduces investor capital gains tax for overseas speculators

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UrbanGrowth NSW has denied claims of plans for a 32 storey apartments towers on the public foreshore surrounding the Sydney Fish Market.
“We do not have secret plans for 32 storey towers or anything else,” UrbanGrowth NSW chief executive, David Pitchford said in response to the Sun Herald report.
UrbanGrowth NSW has categorically denied claims that there was any sort of “done deal” regarding the transformation of The Bays Precinct site.
“There are currently no plans for any part of The Bays Precinct – what we have is a discussion paper that we are releasing to the people of Sydney this weekend for their comment over the next six weeks,” said David Pitchford.
The sensational article co-incided with weekend community consultation sessions, with live streaming, discussing the future for the Bays Waterfront Promenade, Bays Market District, White Bay Power Station, and White Bay Cruise Terminal. There were over 1000 registrations to attend.
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“The Call for Great Ideas is not a procurement process,” he said.
"UrbanGrowth NSW does not know who will or will not make a bid to redevelop Blackwattle Bay, but the fact is that the time for bids of any sort is some time away, and when there is a call it will be a transparent and open public process.
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"The priority for UrbanGrowth NSW this year is the development of the Transformation Plan which will guide and direct the development of The Bays Precinct over the next 20 to 30 years," he said.
The Sun Herald article said the Baird government's land development agency, Urban Growth, expected to put a proposal to build 32-storey apartment towers on the public foreshore surrounding the Sydney Fish Markets to the NSW government for approval by July.
A Chinese fishing and real estate conglomerate, which already has a 25 per cent stake in the Sydney Fish Markets and owns the Bidvest site in Pyrmont, was behind the assumed plans, the article suggested.
The bays precinct summit <a href="/news/nsw/bays-precinct-sydney-harbour-summit-welcomed-after-years-of-stagnation-udia">consultation was welcomed by the developer lobby, the Urban Development Institute of Australia</a> when it was announced last year. 
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No 32-storey bay apartment plans for Sydney Fish market precinct

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The Gothic Revival Banyule at Heidelberg has been sold for $5.2 million, having failed to sell last year when listed with a $5.5 million asking price.
The heritage-protected 1840s homestead - one of the oldest remaining residences in Victoria - once sat on a 266 hectare holding. 
The eight bedroom, four bathroom mansion had been listed by <a href="https://www.realestateview.com.au/Real-Estate/banyule-homestead-60-buckingham-drive-heidelberg/Property-Details-buy-residential-8634798" target="_blank" style="line-height: 1.3em;">Prue Jones at RT Edgar</a> who expected $5 million plus.
The Buckingham Drive homestead now on a 9,085 square metre holding was designed by architect John Gill for the English-born pioneer Joseph Hawdon in 1846 whose family retained the home until the 1860s.
The Gothic style was unusual for Melbourne, but more popular in Sydney.
Built before the discovery of gold, there are a handful of other buildings in Melbourne of this age, but many were originally small cottages that were extended later to become large homes.
In 1974 Banyule Homestead was purchased from the Simpson family for a below valuation $190,000 price by the Hamer state government, then opened as an annex by the National Gallery of Victoria.
The homestead was sold by the Kennett state government in 1995 for $815,000 to the current vendors.
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Heidelberg's heritage trophy home, Banyule sells for $5.2 million

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The longtime Woollahra home of the late composer Peter Sculthorpe sold at auction this afternoon.
It was sold at $3.75 million to Peter and Doris Weiss, who Title Tattle gleans are set to establish a music fellowship in residence centre, in Sculthorpe's honour.
There were four bidders at the onsite Goodyer auction which saw bidding open at $2.6 million for the three bedroom cottage that sits on a 302 square metre block diagonally opposite the Lord Dudley Hotel.
There was an initial 84.4% weekend auction success rate for Sydney, according to Australian Property Monitors, down slightly on last weekend's revised 86.2% result.
<a rel="0" style="line-height: 1.3em;" href=""><img class="showpic" src="https://www.goodyer.com.au/lt-1-1P2983-1410376668-rsc.jpg" alt=""></a>
Peter Weiss was spotted in the leafy street well ahead of the 2pm auction, while Doris only turned up when bidding was at $3.4 million.
The internationally renowned composer was best known for his orchestral and chamber music, most notably his 1988 piece Kakadu.
His generosity in life continued after he died last August, aged 85, with a bequest to establish a chair in Australian music at Sydney University, funded in part by the sale proceeds. 
Now it seems likely charming Holdsworth Street cottage, which Australia's most famous composer purchased in 1976, will become a music fellowship in residence centre. 
<a rel="4" style="line-height: 1.3em;" href=""><img class="showpic" src="https://www.goodyer.com.au/lt-1-1P2983-1410372017-rsc.jpg" alt=""></a>
It had a price guide of more than $2.75 million through <a href="https://www.goodyer.com.au/1P2983" target="_blank" style="line-height: 1.3em;">Goodyer's Pauline Goodye</a>r.
Neighbours were the underbidders. Music students appeared to be in attendance. 
<div>
<a class="c_ml ThumbContainer" href="https://blu180.mail.live.com/default.aspx?rru=inbox"><img src="https://blu180.mail.live.com/clear.gif"></a>Sculthorpe's portrait by artist Eric Smith won the Archibald prize in 1982, <a href="https://www.portrait.gov.au/magazines/14/creative-space" target="_blank">which can be viewed in the National Portrait Gallery</a>, Canberra having been purchased with funds from the Basil Bressler Bequest 2004. 
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<div>The original 1967 Melbourne Symphony Orchestra recording of Sculthorpe's 1961 classic, <a href="https://aso.gov.au/titles/music/irkanda-iv/clip1/" target="_blank">Irkanda IV</a>, with violin soloist Leonard Dommett and conductor John Hopkins (recorded in 1966) was among the 2008 inductees into the SOUNDS OF AUSTRALIA national registry.</div>
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<div>Peter Weiss is one of Australia’s most successful businessmen and arts philanthropists. Born in 1935 in Vienna, Peter came to Australia in 1939, brought up in a musical family where from childhood he had a passion for playing the cello. Peter was educated in Sydney and developed his business “Weiss”, almost four decades ago to become a highly successful leader in the fashion industry. </div>
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<div>He has focused his known charitable energies on the Australian Chamber Orchestra, the Sydney Symphony and the University’s Sydney Conservatorium of Music, where Weiss studied.</div>
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After the auction he advised the Sculthorpe studio will remain a home for music 
The Weiss's may periodically live in the Holdsworth Street house - they reside at the other end - but the intention is to turn the studio into a venue for masterclasses and recitals.
“I wanted to cherish it and keep it there for the purpose of music, particularly for young people,” he said.
 
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Peter and Doris Weiss buy composer Peter Sculthorpe's Woollahra cottage with philanthropic intent 

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The downsizing News Ltd business columnist Terry McCrann secured a stellar $2.95 million when his longtime Camberwell family home sold at weekend auction.
It last traded in 1980 at $86,250, so reflected 10.75% annual price growth over the 35 years.
It had been listed by Jellis Craig agents Chris and Michael Hingston who were initially telling inspectees around $2 million was expected at its 16 May auction.
Houses on the road have sold for as high as $2.3 million, with the last sale a $1.95 million in late 2014.
After opening at $2.5 million, the second bid was enough to put the property on the market at $2.52 million. There were six bidders.
"Across the road – same land size and same house sells late in 2014 for $1,950,000 – why you pay $1 million dollars more," buyers' agent Mal James noted.
"Asian buyers duke it out to $2,950,000," he added.
The timing was nothing about picking the potential peak in the ever-confident eastern suburbs Melbourne residential market, just apparently time to permanently downsize for the family.
The REIV report Melbourne secured a clearance rate of 76 per cent this weekend compared to 80 per cent last weekend and 70 per cent this weekend last year.
There were 803 auctions reported to the REIV, with a $564 million total sales.
REIV TOP 5 HOUSES
1. 60 Buckingham Drive, Heidelberg $5,200,000 2. 43 Orchard Crescent, Mont Albert North $3,570,000 3. 25 Rushall Crescent, Fitzroy North $3,400,000 4. 1A Woorigoleen Road, Toorak $3,400,000 5. 6 Wills Street, Balwyn $3,160,000 
REIV TOP 5 BARGAIN HOUSES
1. 125 Powell Drive, Hoppers Crossing $277,000 2. 25 The Garlands, Craigieburn $290,000 3. 38 Village Avenue, Taylors Lakes $310,000 4. 39 Rokeby Crescent, Craigieburn $325,000 5. 7 Lombardy Avenue, Dromana $330,000
REIV TOP 5 APARTMENTS
1. 5 Olinda Avenue, Beaumaris $2,200,000 2. 3/37 Hartington Street, Kew $1,805,000 3. 5/16-18 Bona Vista Avenue, Surrey Hills $1,405,000 4. 6/103 Lucerne Crescent, Alphington $1,390,000 5. 41B Moylan Street, Bentleigh East $1,386,000 
REIV TOP 5 BARGAIN APARTMENTS
1. 9/6 Garnet Street, Brunswick $225,000 2. 7/723 Princes Highway, Springvale $225,000 3. 2/18A Bloomfield Road, Ascot Vale $254,250 4. 1/7 Gascoyne Way, Truganina $295,000 5. 2/465 Princes Highway, Noble Park $300,000
Source <a href="https://www.reiv.com.au/Property-Research" target="_blank">REIV </a>
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Economics columnist Terry McCrann secures stellar $2.95 million at Camberwell auction

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The Surry Hills, Sydney warehouse abode of Kay Lanceley, widow of the late Australian artist, Colin Lanceley, has been listed with $4.2 million plus hopes.
The listing follows the death in January of 77-year-old Colin Lanceley who paid $450,000 for the Esther Lane warehouse in 1992.
<a href="https://www.realestate.com.au/photogallery_new.ds?id=119798979&amp;theme=rea.buy" rel="photos" data-id="119798979"><img src="https://i2.au.reastatic.net/800x600/5254f577100eab51c113d3ff6d35df3cd4495a03c9908eb47ea046f6b41ed149/image19.jpg" alt="2 Esther Lane, Surry Hills" title="2 Esther Lane, Surry Hills" data-index="18"></a>
It was bought from their friend, the art dealer, Ray Hughes, who had purchased the rustic warehouse from the estate of another art dealer, Rudy Komon.
Listing agent <a href="https://www.bresicwhitney.com.au/buy/2-esther-lane-surry-hills-11169" target="_blank">Ivan Bresic of BresicWhitney</a> has the 468 square metre holding up for June 13 auction. 
Its marketing suggests it is located at the epicenter of cultural diversity, eclectic art, fashion and food.
<a href="https://www.realestate.com.au/photogallery_new.ds?id=119798979&amp;theme=rea.buy" rel="photos" data-id="119798979"><img src="https://i4.au.reastatic.net/800x600/76802122e7e59d22fae89ce3108a3c46f2590d849d13fb8e6b2f0ddb8a53ad58/image9.jpg" alt="2 Esther Lane, Surry Hills" title="2 Esther Lane, Surry Hills" data-index="8"></a>
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Will long line of artistic bohemia continue? Colin Lanceley's Surry Hills warehouse listed

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>.

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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.

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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.

Jonathan Chancellor

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