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There was a $575,000 top bid in the online bidRhino.com auction sale of an off the plan apartment in South Melbourne.
Around 600 plus potential buyers had looked before the online auction began on the bidRhino.com online website.
There was an <a href="https://www.bidrhino.com.au/vic/for-sale/South-Melbourne/603/79-Market-Street/id-1546" target="_blank">opening bid of $540,000</a>.
There were six bids between two competing parties for the off the plan auction offering at 603/79 Market Street, South Melbourne.
It is a 61 square metre apartment in the ITUM-developed project. 
The initial bid was sought at $530,000 plus with price indications given as $575,000 plus.
The live auction portal aims to revolutionise the property market as residential properties can be listed and potential buyers or tenants can securely bid with just a digital click. 
The opportunity exists to secure an off the plan property in <a href="https://www.bidrhino.com.au/vic/for-sale/South-Melbourne/603/79-Market-Street/id-1546" target="_blank">The Walker apartment complex</a> positioned in the heart of South Melbourne, which is due for early 2016 completion.
This apartment comprises two bedrooms, one bathroom, and an open terrace, in the 67 apartment building that has an architecturally adapted heritage façade.
<img src="/images/2015/04/24/off-april-24-four.jpg" alt="">
When the auction ended and with the reserve price met, the highest bidder became the successful purchaser. 
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jchancellor-FAypfDUnLy

bidRhino.com secures $575,000 inaugural online auction success

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The Real Estate Institute of Western Australia has criticised the decision by the State Government to axe the First Home Owners Grant (FHOG) for established homes in this week's state budget, but welcomed the retention of the stamp duty exemption.  
REIWA president David Airey said being exempt from stamp duty for homes under $430,000 was a huge benefit to all first time buyers. 
However first time homebuyers wanting to buy an established property have lost the $3000 First Home Owners Grant.
It comes after the FHOG was reduced for established buyers from<a href="/news/changes-to-wa-fhogs-take-effect"> $7000 to $3000 in 2013</a>.
The FHOG remains unchanged at $10,000 for those wanting to build their first home.
And stamp duty concessions for first home buyers of both new and established homes remain unchanged in this year’s budget.
Treasure Mike Nahan said the change was in line with the State Government’s policy objective of focusing financial support on residential construction.
But cutting the grant for first time buyers purchasing established homes will be a saving of about $109 million for the State Government over four years.
Mr Airey said the government’s argument that the FHOG policy was geared towards providing more housing was flawed, because Perth was currently oversupplied with dwellings.
“Supply is not the issue in WA, affordability is the issue and making it harder for first home buyers attracted to existing stock makes no sense,” he said.
Western Australia’s 2015-16 budget showed a significant write down in expected revenues again, largely due to the greater than expected fall in iron ore and oil prices.
With the state’s spending outlook little changed from the December MYEFO, larger deficits are now expected in the 2015-16 and 2016-17 years.
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WA budget axes FHOG for established homes 

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Nomura Australia rate strategist Andrew Ticehurst views the combination of low inflation, the high Australian dollar, and the China slowdown will force the RBA's hand for a third time this year.
"The next real window for an RBA cut is likely August, and we currently assign a 40 to 50 per cent probability to a move at this time," the Australian Financial Review reports.
"We think the probability rises again later in the year, and a move by November is more likely than not."
He ranks as the only economist to forecast the Reserve Bank of Australia's four interest rate decisions so far this year.
Only a few economists currently expect the RBA to ease further this year.
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Interest rate whisperer Andrew Ticehurst tips another 2015 RBA rate cut

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Overdue reforms to the Federal Government significant investor visa program leave about $10 billion in foreign investment capital at the risk of being rorted, the authoritative Australian Financial Review Chanticleer columnist Tony Boyd has written.
The SIV program was intended to encourage immigrants to make complying investments of $5 million-plus in assets as a stepping stone to acquiring permanent residency, but the rorting through "loan back" arrangements sees migrants borrow against these assets and then put the money wherever they pleased.
The complying investments under the original program included fixed interest investments, so the $5 million could become a $10 million investment in Australia without any control over where the extra borrowed funds were invested.
"The loan back schemes were clearly rorting of the program which was designed to attract capital flows to stimulate economic activity," Boyd advised.
"It was not designed to allow migrants to "buy" a visa, borrow against the invested assets and take the money back to their home country or invest in residential real estate."
Boyd also writes promoters of the SIV program in Hong Kong created trust structures which were specifically sold as avenues for buying Australian residential property.
It is legal as the Department of Immigration and Border Protection circulated questions and answers included the following:
"Can a migrant investor use any part of the complying investment as security to borrow further funds?"
The answer said, in part: "As the holder of a provisional Significant Investor visa, migrant investors may use any part of the complying investment as security to borrow further funds after they make the complying investment and provided they maintain it for the duration of their visa."
At the end of March this year there were 751 primary visas issued under the SIV program and another 544 active applications in the system, as the government announced on April 9, the temporary suspension of the SIV program from April 24 which triggered a rush to get in before loan backs and residential mortgage investment was outlawed. 
Boyd writes about 1000 applications were made in that short period before the suspension came into force, with about 90 per cent of all applications from mainland China.
The old rules have been grandfathered because the Immigration Department was concerned that it could be sued by the SIV applicants or those already holding SIV visas.
The new rules, which come into force from July 1, require a minimum mandatory investment of $500,000 in an Australian venture capital limited partnership, managed by a licensed fund manger and there will also be a minimum investment of $1.5 million in emerging companies.
The new rules allow for a balancing investment in a range of liquid assets including real estate investment trusts, ordinary equity, preferred equity, convertible bonds, corporate bonds, real commercial property and managed funds.
The rules specifically prohibit loan back arrangements and direct investment in residential real estate. 
Indirect investment in residential real estate is restricted to 10% of the assets of the investment vehicles.
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AFR Chanticleer's Tony Boyd says old SIV remains a potential $10 billion rort

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Three more surplus government-owned property at Millers Point have been sold adding $6.7 million towards social housing projects in the suburbs.
They were all on Kent Street including<a href="https://www.mcgrath.com.au/buy/house-millers-point-nsw-2000/257134/?searchID=49852710" target="_blank"> 51 Kent Street</a> (pictured above), which is an 1855 terrace that sold at $2.45 million. The price guidance was $2 million to $2.2 million.
The Georgian-style terrace had been listed for auction last night through Peter Starr at McGrath Estate Agents.
The terraces at 39 and 49 Kent Street also sold. 
The 39 Kent Street terrace sits in a row built for solicitor/politician Sir George Wigram Allen. It sold at $1,725,000, having been listed with $1.5 million to $1.6 million price guidance.
The 49 Kent Street terrace fetched $2.54 million, having been listed with a $2 million to $2.2 million price estimate. It appears the Millers Point Government terrace selloff now gives closer sale price guidance than initially given when the sales campaigns kicked off las year.
The 47 Kent Street was auctioned last year at $1.64 million.
Properties sold late last year included 24, 28 and 32 Argyle Place fetching $2.3 million, $2.35 million and $2.15 million respectively.
The NSW government is proceeding with plans to sell the remaining 284 properties so funds can be reinvested back into the public housing system.
The government-owned properties in Millers Point secured a total of $21.9 million from its initial nine sales.
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Millers Point Government terrace selloff now gives closer sale price guidance

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Melbourne prestige buyers agent Mal James says it would be easy for buyers to throw in the towel, but urges they don't.
Advising buyers to not panicking and sticking to buying fundamentals, he says his client’s last 10 market dealings over a recent 10 days reflect the inner Melbourne market was strong.
"But it’s not impossible to navigate," he said noting some cheers and some tears in their dealings which ranged between $2 million to $6 million.
However he notes several examples of sales at 20% above agent quotes, including to FIRB approved buyers at Studley Park. There was also a Malvern home sale at 33% above agent quote in Malvern.
"Overseas interest can add $100,000 for each $1,000,000 as a rule of thumb," he noted.
"The market is manageable.
"The market is hot and you need to be brave and bold. 
"Not ridiculous, but brave and bold.  
"On one of the homes we bought, the underbidder paid $110,000 extra the next day to be an underbidder again on what appeared to us to be a similar offering.
"Better a missed opportunity than a mistake.
"You are not going to get smashed or surprised every time, if you do your homework on price. 
"Sometimes it is just too much and you have to move on. 
"Move on but don’t give up or don’t overreact," he said.
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Overseas buyer interest adds $100,000 for each $1 million in Melbourne prestige market: Mal James

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William Hill’s Cottage, listed for May 30 auction, appeared on J.H. Taylor’s first map of Geelong in 1854.
Behind its stylised brick facade, the original front section of the house retains strong heritage features, with a more recent rear addition providing an open-plan living space.
There are four bedrooms off a central hallway in the cottage, with timber-lined ceilings.
Two bedrooms have open fireplaces.
Hodges agent Jeff Begg has the <a href="https://www.realestateview.com.au/Real-Estate/90-hope-street-geelong-west/Property-Details-buy-residential-8729070" target="_blank">90 Hope Street listing</a> which has housed many significant people of its 160 year history, including three mayors.
Interest in this property has been in the high $500’s.
It last sold in 1990 at $80,000 when sold by the city council.
It appears to have a connection with the work of the important and innovative pioneer Geelong architect John Young, one of the few remaining substantial, high quality brick houses from Geelong West's 1850's era.
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William Hill's Cottage at Geelong West listed

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Mooted on and off for the past two decades, the public float of the McGrath estate agency is now tipped as possibly scheduled for November this year.
The much-read Australian Financial Review Street Talk columnists write McGrath Estate Agents has kicked off a beauty parade for advisers on a potential initial public offering.
It was mooted last year and before that as far back to the late 1990s.
The company, formally founded by high-profile chief executive John McGrath in 1988, along with his adviser, Luminis Partners took pitches from retail brokers and investment banks for the public market float this week.
The fallback position is that McGrath Estate Agents is keeping its options open as it looks for funding to further its national expansion.
"If the company was to opt for a float, it would likely take place in November, after companies' reporting season and in the midst of the spring property selling season," the AFR’s Street Talk writers, editor Sarah Thompson, Anthony Macdonald and Jake Mitchell write.
They dominate the AFR readership traffic, according to leaked details covering the month to April 15, 2015, despite the strength of their Canberra coverage from gallery stalwarts Laura Tingle and Phillip Coorey. The rankings published by Mumbrella are by absolute number of page views rather than page views per article.
Rear Window columnist Joe "Mortdecai" Aston sat in eighth place. 
Former Property Observer writer Larry Schlesinger topped the property section writers in 10th place.
The former Property Observer columnist Chris Joye sits in 24th place. He re-wrote today that the RBA has been blindsided by housing dynamics over the past couple of years as it has never confronted such conditions. 
"In 1991 the value of housing debt divided by disposable household income was 35 per cent. Today it is more than 140 per cent, and climbing daily," Joye wrote.
When ranked by page views per article Chris Joye sat in fourth place behind Laura Tingle, Phil Coorey and Jonathon Shapiro. 
The national business broadsheet had a 7.5% circulation fall on weekdays to 56,160, while its weekend edition fell 1.3% drop to a circulation of 61,911, according to the latest Audit Bureau of Circulation figures.
Fairfax doesn't release digital subscription numbers for the AFR, because the numbers are slight.
Street Talk revealed <a href="/news/john-mcgrath-finally-thinks-of-venturing-into-victoria">McGrath had appointed Simon Mordant of Luminis</a> to advise on growth options last month. Title Tattle revealed <a href="/news/simon-mordant-sells-in-point-piper-to-downsize-into-thomas-hamel-flat">Simon Mordant's property downsizing</a> earlier this year.
McGrath Estate Agents has 62 offices across NSW, south-east Queensland and the ACT, most of which are franchises.
In March McGrath Estate Agents announced it recorded its best month in the company's history.
 
The real estate agency based across New South Wales, Queensland and the ACT turned over more than $1.46 billion in property during March with 1281 sales from 62 offices. This reflected a 14.6 per cent increase on the previous company record of $1.27 billion recorded in November 2014.
 
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McGrath estate agency float tipped for November 2015

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Listed in October 2012, retired lawyer Malcolm McLean and his artist wife, Jean, have finally sold their beachfront home at Whale Beach.
It was sold price undisclosed but presumably falling short of those initial ambitious price hopes of more than $10 million through Glenn Lee, of Raine &amp; Horne Palm Beach.
The Whale Beach Road property is two doors from the beachfront retreat of businessman and environmental activist Geoff Cousins, which sold just before the 2012 listing for a suburb record price of $13 million.
Cousins's property, named the Wedge after a nearby surf break, was snapped up within 10 days of hitting the market through Glenn Lee to then billionaire John Grill 
Architect John Crawford designed the McLean residence, a modern, New England-inspired, five-bedroom house with sweeping beach views.
The McLeans' home sits on a 1567-square-metre block.
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New England-style Whale Beach trophy home sale finally comes

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An East Brighton mansion listed through hockingstuart Brighton has been marketed as blending spectacular indulgence with high tech edge.
The agents suggest it was bringing Boston Brownstone architecture to the bayside suburb over three levels with four bedrooms and four bathrooms.
The bespoke kitchen comes with fish tank, butlers pantry along with grand entry with Graham Geddes oak doors. 
There is an expansive six car basement garage at<a href="https://www.hockingstuart.com.au/46_CANBERRA_GROVE_BRIGHTON_EAST_VIC_3187" target="_blank"> 46 Canberra Grove</a>.
 It also has a “man cave” with surround sound, a games area, a gymnasium, bar and full kitchen.
The trophy home has been listed for May 23 hockingstuart auction with $3.7 million plus hopes.
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Boston brownstone in East Brighton with kitchen fish tank thrown in

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;

&nbsp;

&nbsp;

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.

Jonathan Chancellor

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