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Buying outside of capital cities is much cheaper, according to recent Residex/Onthehouse statistics for both houses and units, through to differing degrees.
The biggest gap is between Sydney houses and the rest of NSW country. 
Table 1 – Summary of Results for Major Cities as at March 2015
<a href="https://blog.residex.com.au/wp-content/uploads/2015/05/Table-1_March-Statistics.jpg" target="_blank"><img class="aligncenter size-full wp-image-4107" src="https://blog.residex.com.au/wp-content/uploads/2015/05/Table-1_March-Statistics.jpg" alt="" title="Table 1_March Statistics" width="775"></a>
 
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jchancellor-FAypfDUnLy

Regions starkly cheaper than capital cities: Residex/Onthehouse

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Wanganui, the grand Longueville trophy home residence, has hit the market with its blue turret for the first time in 58 years.
Set on a 2087 square metre holding at<a href="https://www.realestate.com.au/property-house-nsw-longueville-119650891"> 58 Lucretia Avenue</a>, the 1893 Wanganui has a price guide of more than $6.5 million.
It comes with a slither of land tracking down to the water.
Mal Lennon moved into the three-storey home - then divided into two flats - when he was five years old — around 58 years ago.
His family of six lived downstairs and their aunt and grandmother shared the upper level.
Its character features include ornate ceilings, parquetry floors and stained glass windows.
But the eye-catching, blue corner turret with an ogee cupola is its defining feature.
The house was built in 1893 by architect C J Ross with owners including Percival Stuart Garling and his daughter, the artist and genealogist Lilias Stuart Humphreys.
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Blue turreted Longueville trophy home, Wanganui for sale

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Historically, the east coast housing markets of Brisbane and Melbourne have followed the Sydney growth cycle, booming shortly after the Sydney market reaches its peak.
Despite speculation that growth in the Sydney market would spill north to Brisbane, devastating weather conditions and the deterioration of commodity prices mean that the greater Brisbane region has seen subdued growth so far in 2015.
Our latest data shows that the median house value in Brisbane contracted by 1.33% for the March quarter. Units did not do much better, with growth of 0% in the same period.
Queensland Treasurer Curtis Pitt described the Federal Budget as a “let down for Queensland”.
The State Government was chasing funding for a cross river rail, the second stage of the Gold Coast light rail and the Sunshine Coast rail duplication.
However, the Federal Government has announced its infrastructure loans are conditional, and Queensland will not receive full federal support unless it agrees to sell its assets.
Unless the State Government can negotiate further infrastructure funding, Queensland may see subdued economic and employment growth.
This is further reinforced by the abolishment of the tax free threshold for those on a working holiday in Australia.
The reform could reduce tourism, which has provided a crutch for the Queensland economy following the tapering off of the mining boom.
Any fiscal policy impacting tourism is also important for those with holiday rentals to consider, as rental returns could go down and vacancy periods have the potential to go up.
Eliza Owen is the Market Analyst for <a href="https://investors.onthehouse.com.au/Federal_Budget_2015/?page=1#.VVOx3XpMIzU" target="_blank">Onthehouse.com.au</a>.
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More bad news for Queensland property: Eliza Owen

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The South Australian treasurer Tom Koutsantonis has declined to rule “in or out” introducing a foreign buyers tax on property sales leading up to next month’s state budget.
The local website InDaily noted Koutsantonis said there was no indication the Weatherill Government would introduce such a measure “just because something’s happened in Victoria”.
“In terms of any decision we’re going to make, I’m not pre-empting anything in our budget leading up to it,” he said.
“If I start ruling things in or out, the moment I say ‘yes’ or ‘no’ to a foreign investor tax, people will say ‘what about abolishing stamp duty?’ or ‘what about payroll tax?’”
But the Real Estate Institute of SA wants an early assurance with CEO Greg Troughton telling InDaily any disincentive to foreign investment is “the last thing South Australia needs”.
The Property Council of Australia says there is a need for urgent, fundamental tax reform in South Australia.
Property in South Australia is heavily taxed with 42% of state revenues coming from property taxes.
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'Along with contributing $1.8bn in property specific taxes to State Government revenues, the property sector also pays a generous share of other taxes through payroll taxes, insurance taxes, goods and services tax and Council rates," the PCA of SA said.
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REISA doesn't want South Australia to follow Victoria with foreign property buyers' tax

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The four bedroom Hawthorn East sale at 40 Anderson Road was the week's top reported sale to CoreLogic RP Data.
40 Anderson Road, Hawthorn East, VIC, 3123, four-bedroom house, sold at auction on May 9 by Marshall White Hawthorn for $4.82 million.
5 The Grove, Roseville, NSW, 2069, five-bedroom house, sold at auction on May 9 by Mcgrath Lindfield for $3.71 million.
11 Peppin Street, Camberwell, VIC, 3124, six-bedroom house, sold at auction on May 9 by Melbourne Deluxe Property for $3.51 million.
209 Canterbury Road, St Kilda West, VIC, 3182, five-bedroom house, sold at auction on May 9 by Buxton Real Estate Albert Park for $3.255 million.
42 Collins Road, St Ives, NSW, 2075, five-bedroom house, sold on May 5 by Chadwick Real Estate St Ives for $3.2 million.
31A Nelson Street, Woollahra, NSW, 2025, four-bedroom house, sold on May 8 by BradfieldCleary Double Bay for $3.15 million.
15 Bridge Street, Hampton, VIC, 3188, five-bedroom house, sold at auction on May 9 by Marshall White Brighton for $3.1 million.
13 McShane Street, Balwyn North, VIC, 3104, five-bedroom house, sold at auction on May 9 by Hocking Stuart Balwyn for $2.88 million.
14 Greville Street, Prahran, VIC, 3181, three-bedroom house, sold at auction on May 9 by Kay &amp; Burton Real Estate South Yarra for $2.83 million.
3 Wyadra Avenue, Freshwater, NSW, 2096, four-bedroom house, sold prior to auction on May 9 by Clarke &amp; Humel Property Manly for $2.815 million.
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Hawthorn East home tops CoreLogic RP Data sales

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Real Estate Institute of Australia (REIA) CEO, Amanda Lynch, has welcomed the 2015-16 Budget as a win for her small business estate agency members.
But also one that importantly retains key tax arrangements that benefit housing investment.
Ms Lynch said the generous asset depreciation measures would particularly benefit the real estate sector
“The government is to be commended for ensuring stability within the sector in continuing the current tax arrangements as they relate to both Capital Gains Tax and negative gearing.” 
“With other sectors of the economy slowing, housing will play an increasingly important role and it is pleasing to see the government has not tampered with tax arrangements that have been proven to help stimulate housing investment in Australia.” 
“Abolition of negative gearing would result in a dwindling supply of properties for rent, escalating rents and reduced opportunities for low to middle income earning Australians to create wealth for self-funded retirement.” 
She welcome the small business package giving business owners meaningful incentives to hire, invest in equipment "and importantly grow their livelihood.”
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REIA welcomes no change on property taxes in Hockey 2015 budget

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The Senate committee on housing affordability reports recommends that the Federal government investigate new policy settings to address barriers to downsizing by retirees, including schemes along the lines of the Housing Help for Seniors pilot. 
The report noted many older people would prefer to move out of the family home and into more appropriate accommodation, but financial and other barriers prevented them from doing so.
While submissions generally talked about 'downsizing', the committee noted policy discourse might benefit from reframing the issue to be about 'rightsizing'.
The committee argued against inclusion of the family home in the aged pension assets test given the attachment many people have to their home and the benefits of allowing people to age in place. 
But they noted "it may be that the exemption of the family home from the aged pension means test encourages some over investment in housing and, in some cases, discourages people from moving to accommodation better suited to their needs.
"However, improved housing affordability achieved through policy which pressures older Australians to sell their homes to access capital, potentially disrupting their ties to family, friends and community, would be a hollow achievement."
The committee believed a better approach would be to explore innovative and affordable policies that allow retirees to downsize (or 'rightsize') when they wish or require to do so, without the sale proceeds necessarily jeopardising their pension eligibility.
"Programs such as the Housing Help for Seniors program, announced by the former government in the 2013–14 Budget but abandoned by the current government in the 2014–15 Budget before it was legislated, would be worth exploring in this regard," the report noted.
In the 2013–14 Budget the then Labor government announced its intention to implement the Housing Help for Seniors pilot program, with a commencement date of 1 July 2014.
The report noted had the pilot been implemented, it would have allowed a homeowner who had lived in their home for at least 25 years to sell their home and have at least 80% of the proceeds from the sale of the home (that is, the sale price less any valid encumbrance such as a mortgage, and less the purchase price of the new home), up to a cap of $200,000, quarantined in a special account so that it was not considered as part of the aged pension asset test.
The money in the account plus any interest earned would have been exempt from the asset test for up to ten years, providing there were no withdrawals during the life of the account. 
The exemption was to be available to people assessed as home owners who moved into a retirement village or a granny flat, but would not have been available to people moving into residential aged care.
The program, according to the budget papers, would have cost $112.4 million over the forward estimates period.
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Seniors should be encouraged to downsize: Senate affordability committee report 

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The Senate Affordable Housing committee report has noted the matter of the charitable status of community housing providers was needing resolution as a matter of concern.
In 2008, the Standing Committee on Community Affairs inquired into legislation providing for regulations to prescribe NRAS with witnesses representing the community housing sector saying that their biggest concern around their participation in NRAS was the possibility that such engagement would compromise their charitable or public benevolent institutions (PBI) status. 
At that time, a position taken by the Australian Taxation Office (ATO) generated concern as the ATO indicated that any organisation with charitable status would seriously jeopardise that status if they participated in NRAS.
They further indicated that organisations such as consortiums that participate in NRAS will not be endorsed as charitable organisations.
Furthermore—one that sent chills down the spine of the sector—participation in NRAS may have caused the ATO to heavily scrutinise all of the activities of a participating not-for-profit organisation, not just those that pertain to participating in NRAS.
The ATO reasoned that NRAS was intended to assist not only low income earners, but people on moderate incomes. 
The then government took measures to provide assurances that participating in NRAS would not jeopardise the status of not-for-profit organisations as charities.
Even so, concerns persist that charitable organisations could risk their charitable status by participating in NRAS.
According to the Community Housing Federation of Australia, a charitable tax status allows providers access to a range of tax concessions, including exemption from income tax and GST, access to the Fringe Benefits Tax and often local government concessions on rates and utility bills.
It argued that the charitable tax status was an essential component of the community housing model because the concessions lowered their operating, construction and development costs. 
The Federation told the Senate committee that these concessions, however, were contingent on a community housing provider satisfying the ATO that its organisation's purpose met the criteria for charitable status.
Despite measures taken since 2008 to preserve the status of NFP community housing providers as charitable institutions, the Federation explained over the last several years the sector has operated under the threat and uncertainty that many of its activities, especially in the delivery of affordable housing, would not be considered to have met the criteria of the relief of poverty and could jeopardise the charitable status of community housing providers. 
The legislation that was purported to constrain housing activities through a narrow interpretation of permissible activities was withdrawn.
However, other legislation passed in June 2013 contained some tax conditions that may have a similar impact on providers' charitable status, resulting in limiting their participation in the affordable housing market for fear of putting their charitable tax status at risk. 
Other legislation, such as the new definition of charity that went into effect 1 January 2014 provided some clarity on the situation...[but it] has been mooted for repeal leaving the sector back in the position it was before with ambiguous interpretations of housing activities allowable as a charitable organisation.
The Community Housing Federation drew attention to 'the unsettling environment in the charities and tax arena' which would 'cause continuing uncertainty for the sector for forward planning in the affordable housing market'. 
The Senate committee was firmly of the view that the Australian Government must take steps to provide certainty for community housing providers engaged in NRAS or similar schemes designed to provide affordable housing that their charitable status is not in jeopardy by participating in such schemes.
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Charities face NRAS uncertainty over tax status

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In early March some 75% of apartments on offer in what will be Melbourne's highest tower, Australia 108, had sold within three weeks of its launch.
It is now being marketed as 90% plus sold - an extraordinary success.
With 1105 apartments, the tower is being constructed by the Singapore-listed Aspial Corporation through its subsidiary World Class Land.
Andrew Leoncelli, the Melbourne director of CBRE, best described selling interest in Australia 108 as "running hot".
"The project has sold incredibly well," Leoncelli advised on launch.
"It's about super convenience and amazing facilities," says Leoncelli.
<img src="/images/2015/01/15/TPA8467_Australia_108_E01_Hero%20Elevated.jpg" alt="" width="503" height="761">
It was only earlier this year that Singapore's World Class Land, a subsidiary of Aspial Corporation, got the final go-ahead for Australia 108 which will have 1,105 apartments.
Architect Karl Fender of Fender Katsalidis Architects says Melbourne residents have developed a taste for high-density living. 
Australia 108 and the 297-metre Eureka tower will "like the two gateposts to the city", Katsalidis says.
Last month Aspial sold the penthouse in the tower for a record $25 million to a China-based businessman.
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Melbourne's Australia 108 now at 90% sellout 

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Stockbroker Robert Fiani has $5.8 million hopes for his Bondi Beach sub-penthouse in the Beach House through Raine &amp; Horne agent Paul Langsam. 
There were $6 million hopes on its recent campaign that failed through McGrath agent Steven Chen.
Robert Fiani bought<a href="https://www.realestateview.com.au/Real-Estate/7-178-campbell-parade-bondi-beach/Property-Details-buy-residential-8506506" target="_blank"> the apartment</a> in late 2012 for $4,325,000.
Robert Fiani, of the stockbroking firm Morgans, had the Investec-built three-bedroom apartment with 242 square metre living space, briefly available for $3,400 a week rental earlier this year.
Fiani also owns another apartment which was bought similiarly off the plan for $3.495 million.
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Stockbroker Robert Fiani relists Bondi Beach sub-penthouse

<a href="https://www.apartments.com.au/developers/arada">Arada</a> has wasted little time expanding its ambitions in Campsie, lodging plans for a second major project in the rapidly transforming town centre just months after unveiling its three-tower One Campsie proposal on Beamish Street.

The UAE-backed developer has now taken aim at one of the suburb’s most strategically positioned sites, filing a State Significant Development Application for a <a href="https://www.apartments.com.au/new-apartments/10-north-parade-campsie-nsw-2194">33-storey mixed-use tower</a> at 10 London Street and 43 North Parade, directly opposite the future Campsie Metro Station. The proposal is currently on public exhibition and represents another significant vote of confidence in Campsie's emergence as one of Sydney’s key transit-oriented growth centres.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the development would deliver 156 apartments above a podium containing retail and commercial space, creating a new residential and commercial gateway to the town centre. The scheme also includes a four-level above-ground parking podium and a dedicated residential amenity floor featuring wellness and recreation facilities. At least 10 per cent of the apartments would be allocated as affordable housing for a period of 10 years.

The proposal occupies a 1,631 sqm site bounded by London Street, North Parade and Dispensary Lane, immediately adjoining the future Metro station precinct and just metres from Beamish Street’s retail and dining strip. According to the Urban Design Report, the project seeks to deliver "a great place that prioritises human-scaled experience and provides spatial improvements to the area."

<img alt="First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans" data-entity-type="file" data-entity-uuid="175a8324-015b-4856-abe3-ce6f23199fa7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium%20campsie.png?VersionId=742UGwXFhFBX4GEl6wX4PYIWREAgn6il" />

Woods Bagot describes the tower as a key marker within Campsie's next phase of growth.

"Located directly opposite the new Campsie Metro Station on North Parade, 10 London Street is a thoughtfully composed 33-storey mixed-use tower that contributes to the ongoing transformation of the town centre," the Architectural Design Report states. The report says the project is intended to provide "high-quality homes within a vibrant, connected urban environment, while helping define Campsie's future skyline."

A strong emphasis has been placed on the public realm. The ground floor incorporates over 500 sqm of retail space and active frontages along both London Street and North Parade, while the podium is wrapped by extensive landscaped planting intended to soften the building's scale and strengthen the pedestrian experience. The development would also widen surrounding footpaths and improve connections between the Metro station and the broader town centre.

Above the podium, residents would have access to more than 1,400 sqm of communal amenities, including a pool, gym and landscaped recreation spaces. A distinctive green-wall treatment extending across four podium levels forms a major architectural feature, helping differentiate the project within the emerging high-density precinct.

The tower's design is closely tied to the broader Campsie Town Centre Master Plan and the arrival of Sydney Metro. The Urban Design Report notes the proposal "directly supports the Campsie Town Centre Master Plan by delivering new homes in a location explicitly identified for growth, improved accessibility, and high-quality urban renewal." It adds that the project contributes to the master plan's vision for a strengthened town centre supported by thousands of new homes around the future Metro station.

<img alt="First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans" data-entity-type="file" data-entity-uuid="bfd17654-253e-489a-bade-6278d63db412" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/base%20campsie.png?VersionId=3roJPMQGs36dazpkhvpvbDDP73Ld.Ica" />

The application follows Arada's recently lodged One Campsie project at 124–142 Beamish Street and 16–18 Ninth Avenue, where the developer is seeking approval for 346 apartments across three towers rising 24, 32 and 39 storeys. Together, the two proposals would cement Arada as one of the most influential developers shaping Campsie's future urban form.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-arada-files-for-trio-of-apartment-towers-in-campsie-town-centre">First Look: Arada files for trio of apartment towers in Campsie town centre</a>

Arada entered the Australian market in 2024 and has rapidly assembled a significant development pipeline across Sydney. Alongside its Campsie holdings, the developer is soon to launch <a href="https://www.apartments.com.au/new-apartments/wattle-green-2-fishburn-crescent-castle-hill-nsw-2154">Wattle Green</a> in Castle Hill, and has expanded its local operations following its acquisition of construction firm Roberts &amp; Co.

Located around 14 kilometres south-west of the Sydney CBD, the site sits at the centre of one of Sydney's fastest-changing middle-ring precincts. The Metro conversion of Campsie Station, combined with Canterbury-Bankstown Council's master planning framework, is driving significant residential intensification around Beamish Street and North Parade, with thousands of new homes expected over coming decades.

Joel Robinson

First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans

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.

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.

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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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Jonathan Chancellor

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