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Dow Jones has launched Mansion Global, mansionglobal.com, a standalone, global luxury real estate website.
It brings together high-end property listings from brokerages and developers around the world, designed to empower international buyers to make intelligent purchase decisions and to engage the luxury real estate enthusiast.
The site will feature original content as well as news and information from News Corp publications and web sites around the world, including articles from The Wall Street Journal, Barron’s, The Times of London, The Sunday Times, The Australian and realtor.com. Today it even carries a link to an Australian Fincial Review article.
The site will launch with English, Spanish and Chinese-language editions. 
Launch sponsors for Mansion Global include Sotheby’s International Realty, Extell Development Company and Sub-Zero and Wolf.
“News Corp’s shared passion and dedication to real estate makes them an ideal partner for the Sotheby’s International Realty brand,” said Wendy Purvey, Chief Marketing Officer, Sotheby’s International Realty Affiliates LLC. 
The concept for <a href="https://mansionglobal.com" target="_blank">Mansion Global</a> was first incubated at News Corp, led by chief executive Robert Thomson who retains a small apartment in Sydney.
Mansion Global is a Dow Jones product and is independent from The Wall Street Journal and its Mansion real estate section.
Australians listings on the site come from Sothebys, Christies International and Coldwell Banker.
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jchancellor-FAypfDUnLy

Mansion Global launched by News Corp

Channel 7 sports reporter Tom&nbsp;Browne knocked back $2.06 million when his renovated 1890s Toorak home went to spring auction last year.

It was listed with reported price expectations of $1.9 million, but its reserve price was revealed post auction as $2.3 million by Kay &amp; Burton.

The settlement documents lodged last week indicated he secured $2.2 million.

[smartcode_project:default project_id=7363 project_image_fid=41840]

The double-storey terrace, with 136 square metres living space, on a 374 square metre block at&nbsp;<a href="https://www.realestateview.com.au/Real-Estate/5-canterbury-road-toorak/Property-Details-buy-residential-7679160" target="_blank">5 Canterbury Road</a>&nbsp;includes three bedrooms, a study, a formal lounge and a huge open-plan casual living area.&nbsp;

Browne, son of former Nine managing director&nbsp;Jeff&nbsp;Browne, bought the house in 2007 for $1.2 million. He has since renovated it.&nbsp;

Jeff Browne <a href="/news/television-executive-jeff-browne-sells-bondi-beach-apartment">recently sold his Bondi Beach apartment</a>.

Tom quit his job as a lawyer to follow his media dream, learning the ropes at WIN TV in Bendigo. He has been at Seven since 2010.

Tom Browne's Toorak home sale at $2.2 million

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The former Network Nine boss Jeff Browne has sold his Bondi Beach triplex apartment located opposite the Bondi Icebergs for around $4 million.
A New Zealand buyer flew into Sydney last month exchanging the same day through Paul Langsam, of Raine &amp; Horne Bondi Beach.
The apartment in the Graham Humphrey-designed triplex on <a href="https://www.propertyobserver.com.au/https://www.raineandhorne.com.au/properties/386349" target="_blank">Notts Avenue</a> failed to sell when listed last October.
It cost $3.2 million in 2011.
The north-facing apartment with ocean views was developed in 2004 by the Elterman family.
The block's penthouse set a Bondi Beach apartment record when bought in 2006 for $9 million by Spencer Young, founder and until recently chairman of hedge fund holding firm HFA.
Brown, who was Eddie McGuire's right-hand man in the brief stint at the Nine Network, is a former AFL lawyer and passionate Collingwood Magpies fan. He retains a base in Melbourne at his South Yarra sub-penthouse. 
In late 2010 he paid $5 million for a luxury apartment within Fridcorp's South Yarra complex on the north-west corner of 709 Chapel Street, near the southern end of the Church Street Bridge.
Tresor, a curvaceous and distinctive Elenberg Fraser-designed glass tower with 99 apartments, was approved despite concerns it would overshadow the abutting Melbourne High School and increase traffic to the already-busy Chapel Street and Church Street, Richmond, retail strips.
Browne is returning to Nine to run its AFL and NRL broadcasting right negotiations, according to the Australian media diary columnist Sharri Markson.
 
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Television executive Jeff Browne sells Bondi Beach apartment

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Australia’s number one agent conducts prospecting calls for eight hours a day over three days a month.
According to James Tostevin of Marshall White &amp; Co in Melbourne, prospecting is the key to his success.
He sees it as a major source of neglect in the real estate industry.
“Anyone could do what I’m doing, but a vast majority of salespeople, sales managers and principals simply choose not to,” said Tostevin, who has ranked number one agent in industry website, Real Estate Business Top 100 agents ranking three times now.
For three days every month, Tostevin clears his diary for eight hours of prospecting, he said after an earlier win.
“Maintaining my concentration level is crucial, as is having intensity, focus, energy and sounding happy to speak to every single person,” he said.
According to Tostevin, the one year anniversary contact call is a prospecting call every agent should be having with their clients.
Then a once a year call which he says are one of the greatest areas of neglect in real estate.
The best time to make these once a year contact calls is around the Christmas period or the middle of the year, Tostevin said.
“It’s easier to make conversation around a forthcoming holiday period,” he said.
"It’s much easier to retain a previous client than it is to find a new client."
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Selling tips and strategy from Australia's top selling agent James Tostevin

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Around 600 plus potential buyers have looked at the listing of a forthcoming online Melbourne off the plan apartment auction.
It sits on the bidRhino.com online property auction website, which has launched its service with an off the plan auction offering at 603/79 Market Street, South Melbourne.
Bidding was scheduled to start today on <a href="https://thewalkerapartments.com.au/plans/603.jpg" target="_blank">the 61 square metre apartment</a> in the ITUM-developed project. The bids are sought at $530,000 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. 
bidRhino.com online auctions are being marketed as an easy method for sale
bidRhino director Michael Cavey said the basic fee for selling property is $498. 
“bidRhino.com supports the research habits of hundreds and thousands of home-buyers and sellers with over 90% of all property buyers doing all their research solely online," he said.
 <img src="/images/2015/04/24/off-april-24-three.jpg" alt="">
<a href="https://www.bidrhino.com.au/vic/for-sale/South-Melbourne/603/79-Market-Street/id-1546" target="_blank">With initial $575,000 plus price guidance</a>, the auction opportunity is to secure an off the plan property in The Walker apartment complex.
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="">
<img src="/images/2015/04/24/off-april-24-five.jpg" alt="">
It is anticipated that each property will be listed online for three to six weeks, during which time bidders can register to bid on any property.
Once the auction itself begins, all registered and approved bidders can bid on the property until the auction is finished. 
When the auction has ended and the reserve price or weekly, rental price has been met, the highest bidder becomes the successful purchaser. 
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bidRhino.com online South Melbourne auction offering attracts 600 online inspectees

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Sydney is still leading national quarterly growth with a further 3.18% rise in the March quarter, with its median house at $929,000.
The trend data released by property analyst Eliza Owen at Onthehouse.com.au highlights the divergence in the growth between Sydney houses and units, with units up 2.21% to $620,000.
It is also obvious in the growth in value of Melbourne houses increased, while units have been trending down to almost 0%, <a href="https://blog.residex.com.au/2015/05/06/may-property-market-update-3/?utm_source=membersNewsletter&amp;utm_medium=email&amp;utm_campaign=Cid=ResiMayNews15" target="_blank">the Residex data showed</a>. 
This month has seen a "drastic change" in Melbourne house growth, which shot up 2.27% in March to $672,500 median, bringing the annual growth rate to 8.68%.
Melbourne units declined 0.08% in value last quarter to $470,000.
<img src="/images/2015/05/07/Graph-1_Sydney-and-Melbourne-trends.jpg" alt="">
Eliza Owen noted it was understandable that investors have been tempted into the high returns of the Sydney property market.
"However, I would say that continued investment in units is not favourable," she said.
"Historically, houses have outperformed units, and have suffered less in periods of correction.
"Well built houses on large blocks of land will retain value because they come with land and present all sorts of potential for development, extensions and spacious living." 
She also commend on the "unusual volatility" in this boom.
"Property is a long term investment that has historically trended upwards, but the increase in the range of returns in the last 20 years suggests they are becoming less safe," said Owen.
"For example, in the period 1990 to 1995, the Sydney market saw losses of 1% per annum and highs of 10% per annum.
"The range of returns in this period is 11 percentage points. Between 1995 and 2000, this range widened to 15 percentage points, and between 2000 and 2005 it widened further to 29 percentage points.
"Over the past five years, the range of returns has remained at 23 percentage points with growth ranging between minus 3% and 20%.
"These sustained, higher ranges point to larger volatility in housing returns.
"Furthermore, household debt is at record highs, and growth in the New South Wales and Victorian economies are currently heavily reliant on continued construction of infrastructure and dwellings.
"Such growth is not sustainable, and should be kept in mind as we cautiously move forward over the next few months."
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Melbourne's "drastic" house price jump, but Sydney leads nations still: Onthehouse/Residex

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Fashion designer Collette Dinnigan has snappily sold her Paddington trophy home ahead of its scheduled 23 May auction through McGrath agent Ben Collier.
Her four bedroom sandstone Paddington Street house became redundant following her purchase at <a href="/news/collette-dinnigan-buys-watson-bay-trophy-home-from-matthew-csidei">Watsons Bay</a>.
Set well back from the street, <a href="https://www.mcgrath.com.au/buy/house-paddington-nsw-2021/185144/?preview=1" target="_blank">the four bedroom double-fronted residence </a>on 379 square metres cost Dinnigan $4.45 million in 2009.
It has been reported she secured around $6 million for the 1880s home, but Title Tattle gleans around $6.5 million was secured.
Dinnigan and her partner Bradley Cocks had it briefly listed in 2010. The property was sold by Ben Collier in conjunction with Will Manning at Ballard Property.
Title Tattle recalls it was bought from Peter Bracher who had bought the farmhouse cottage in 1989 for a then record $1,075,000.
It had been bought in 1975 for $82,000 by Hinke Zieck, the longtime Sydney ragtrader-cum-decorator and her husband Walter.
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Collette Dinnigan sells in smart time in Paddington

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International retailer Muji has announced it will open its first flagship store in Sydney on May 14.
<a href="https://www.facebook.com/muji.au" target="_blank">The homewares store </a>will be at The Galeries.
The Japanese emporium has more than 600 outlets worldwide, plus two stores in Melbourne, including Chadstone Shopping Centre. 
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Muji to open flagship Sydney store

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Federation Centres (FDC) announced its update for the quarter ended 31 March 2015 delivering net operating income up 3.6% for the nine months to March 2015 compared to the prior corresponding period. 
The leasing spread was maintained at 3.2%, in line with the half year result, with 585 transactions completed for the nine month period. 
Annual sales growth for the year to 31 March 2015 was 1.0%, with specialty retailers recording annual sales growth of 2.3%. 
The occupancy rate was 99.4%.
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Federation Centres chief Steven Sewell noted ongoing strength in the specialties category. 
 
<img src="/images/2015/05/06/Picture%2020.png" alt="">
Source: FDC 
There was also an improvement in the Discount Department Stores and Department Stores categories, compared with their December 2014 annual sales performance. 
Mini Majors performed well, although sales moderated as new entrants in this category saw sales stabilise after buoyant initial trading.
Redevelopments at Warriewood Square in New South Wales and Halls Head in Western Australia are progressing well and initial works have commenced for the second stage of the redevelopment at Colonnades in South Australia. 
Approval for redevelopment plans for Mandurah Forum was also recently received. 
<img src="/images/2015/05/06/Picture%2021.png" alt="">
Source: FDC 
The first stage of the Cranbourne Park redevelopment opened on time and fully leased during the quarter.
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The previously announced sales of Woodlands in Queensland and Mildura and Warrnambool in Victoria all settled during the quarter.
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Specialities retail strength reported by Federation Centres 

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The former site of the Cabramatta Fire Station has sold at auction for $2.1 million to a local Asian investor, the Lu Group.  
The 613 square metre site sits on Cabramatta Road West attracted strong interest from developers and investors.
It was sold by Colliers agent Harry Bui with a floor Space Ratio (FSR) of  1.5:1 with maximum height limit of 10 metres. 
Harry Bui advised 15 buyers attended the auction for Fire and Rescue NSW.
With a B4 Mixed Use zoning under the Fairfield LEP 2013, the site may be developed for retail, commercial and residential use.
The district's first Fire Brigade was established elsewhere at Cabramatta in January 1928 as Brigade Number 49 on Railway Parade.
The station was also known as Cabramatta-Canley Vale with the first permanent staff were appointed to the station in 1955. 
Cabramatta Fire Station was incorporated into the Sydney Fire Department in 1959. 
A new station was established in 1969 on West Cabramatta Road.
In 2000, Cabramatta Fire Station was located at 259 Cabramatta Road in West Cabramatta.
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 Former Cabramatta fire station sells for $2.1 million

One of Brisbane's last major riverfront redevelopment opportunities has taken a significant step forward, with Lendlease selected as the Queensland Government's preferred development partner for the former Visy site in South Brisbane.

The seven-hectare industrial site, positioned between South Bank and West End and 1.3 kilometres from the Brisbane CBD, will be transformed into a mixed-use precinct expected to deliver more than 4,000 new homes alongside extensive public open space and riverfront parkland.

The project is one of the largest urban renewal opportunities currently planned in Brisbane and is expected to play a key role in accommodating the city's growing population ahead of the 2032 Olympic and Paralympic Games.

Plans for the precinct include a network of riverfront promenades and boardwalks, new public plazas, parkland, amphitheatre-style gathering spaces and shared pedestrian and cycling links designed to reconnect the long-isolated site with the Brisbane River.

The Queensland Government is targeting delivery of the first homes and key public spaces before the 2032 Games, allowing the precinct to begin contributing new housing and public amenity well before the broader masterplan is complete.

The redevelopment is also expected to support more than 3,000 jobs across planning, construction and ongoing operations.

For Lendlease, the appointment adds another major urban regeneration project to its Queensland portfolio. The developer has operated in the state for more than 70 years and has delivered a number of large-scale mixed-use precincts in partnership with government.

Lendlease Development CEO Claire Johnston said the project represented one of Brisbane's most significant redevelopment opportunities.

"The transformation of the former Visy site represents a rare opportunity to reimagine one of Brisbane's most significant riverfront locations, deliver thousands of much-needed homes, and create long-term legacy," Johnston said.

"In partnership with the Queensland Government, we have the opportunity to create a new riverside destination that will help shape Brisbane's growth and how people experience the city for decades to come.

"This is exactly the type of large-scale, city-shaping development that will provide lasting benefits for Queensland, bringing together housing, jobs and world-class public spaces."

Deputy Premier and Minister for State Development, Infrastructure and Planning Jarrod Bleijie said the riverfront transformation would deliver a thriving new community precinct.

“The Crisafulli Government is delivering this golden opportunity to unlock a riverfront jewel for all Queenslanders,” Deputy Premier Bleijie said.

“This is a once-in-a-generation moment to reshape a significant slice of Brisbane and deliver lasting benefits – thousands of new homes, and public spaces for all Queenslanders to enjoy well beyond the 2032 Olympic and Paralympic Games – unlike Labor’s plan which would have delivered zero benefits and zero new homes.

“Queensland is well and truly open for business and through partnership with the private sector, we are accelerating delivery while ensuring strong housing, community and economic outcomes."

Early works on the precinct are expected to commence in April 2027.

Joel Robinson

Lendlease selected to deliver transformative South Brisbane riverfront precinct

Eddy Haddad's <a href="https://www.apartments.com.au/developers/level-33">Level 33</a> is levelling up its approved Wollongong development, as the coastal city south of Sydney continues to prove popular in the high-density development space.

Level 33, a longtime developer in the Wollongong area, has gone through the NSW Government's Housing Delivery Authority to upsize its approved two-tower development on the corner of Crown Street and Gladstone Avenue, just 100 metres from Wollongong Station.

The developer currently has approval for 252 apartments across two buildings rising to 19 storeys. It is now seeking approval for 33 and 38-storey towers that would deliver 467 apartments, including 67 affordable homes.

Designed by <a href="https://www.apartments.com.au/architects/bka-architecture">BKA Architecture</a>, the development would comprise apartments above a three-level podium with around 1,100 sqm of retail space, along with basement parking for 448 vehicles.

According to the Urban Design Report by BKA, the proposal has the capacity to "reinforce the precinct's identity by strengthening links between health, education, and transport services, while also contributing to Wollongong's ongoing evolution as a key regional centre."

Wollongong is somewhat in vogue. Between Level 33 and Urban Property Group, the two developers have several thousand apartments planned across the city.

Level 33 is currently delivering Easterly Wollongong, one of its most boutique projects to date with just 21 high-end apartments, as well as Atchison &amp; Kenny, a 329-apartment development due for completion later this year.

The developer plans to redevelop the 13,088 sqm WIN Grand megasite into <a href="https://www.apartments.com.au/new-apartments/crown-square-216-238-keira-street-wollongong-nsw-2500">Crown Square</a>, a new $500 million precinct with nearly 600 apartments. It also has more than 900 apartments planned for the former Bunnings Warehouse site at the intersection of Gipps and Flinders streets.

Urban Property Group is also playing a major role in the city's transformation. Its five-tower Keira Place precinct will deliver more than 800 homes, and it has recently lodged plans for a further 300 apartments near Wollongong Station.

First look: Level 33 upsizes Wollongong apartment towers

Just a week after filing plans for the final stage of its major Keira Place masterplan, <a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has unveiled another significant housing proposal in Wollongong, this time targeting a prominent site opposite North Wollongong Station.

The developer has lodged a State Significant Development Application for a 38-storey mixed-use tower at <a href="https://www.apartments.com.au/new-apartments/4-4a-flinders-street-north-wollongong-nsw-2500">4-4A Flinders Street</a>, around one kilometre north of the <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place precinct</a> currently taking shape on the edge of the CBD.

<img alt="First look: Urban Property Group plans 38-storey North Wollongong tower as Keira Place expansion gathers pace" data-entity-type="file" data-entity-uuid="2b6428f1-6405-4038-8476-897de440e90d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/flinders%20podium.png?VersionId=QLqEvK0OuCEwRC47oHNftrw2B1YqaHF8" />

Designed by Studio.SC, the proposal comprises a 38-storey mixed-use development containing 303 apartments, including 45 affordable housing units, alongside 174 co-living residences. The scheme also includes ground-floor retail space, extensive landscaping and public domain improvements.

Studio.SC noted in the proposal it "outlines a vision for a landmark transit-oriented mixed-use development centred around North Wollongong Station, designed to support the city’s future growth while responding to the NSW Government’s housing and planning reforms."

The architecture firm said the proposal responds to the opportunities and constraints shaping future growth within the 400-metre catchment of the station and represents "a coordinated and future-focused approach to urban intensification, contributing to the long-term evolution of North Wollongong as a connected, walkable and high-density station precinct."

The site occupies a strategic corner bounded by Flinders Street, Station Street, Stafford Street and the Princes Highway, directly opposite North Wollongong Station.

<img alt="First look: Urban Property Group plans 38-storey North Wollongong tower as Keira Place expansion gathers pace" data-entity-type="file" data-entity-uuid="7863adad-1f71-4022-b850-f44b252738fd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/flinders%20podium%20a.png?VersionId=WsU7av0g8_8R2tGHWxgHeFSlhu7yeY1V" />

The proposal follows Urban Property Group's recent submission for the second and final stage of Keira Place, which would deliver a further three buildings comprising 657 homes opposite Beaton Park. It builds on the first stage, which features 150 apartments across two towers and recently commenced construction.

Urban Property Group CEO Patrick Elias said breaking ground on the first stage marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/urban-property-group-unveils-trio-of-towers-for-next-stage-of-new-wollongong-precinct-keira-place">Urban Property Group unveils trio of towers for next stage of new Wollongong precinct, Keira Place</a>

First look: Urban Property Group plans next major Wollongong tower

<a href="https://www.apartments.com.au/developers/arada">Arada Australia</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 Australia'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 Australia 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 Australia files for trio of apartment towers in Campsie town centre</a>

Arada Australia 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.

First look: Arada Australia 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.

Jonathan Chancellor

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