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A 108 hectare ridgeline Byron Bay hinterland property has been listed for private treaty sale with a $2.99 million plus asking price following its weekend auction.
It had been marketed as possibly in the handful of largest privately owned land holdings in the Byron Shire. There are over 10,000 Macadamia trees on the productive rich, deep volcanic soil and an abundance of water from a permanent spring, 10 large water tanks, man-made dam and excellent yearly rainfall. 
There are four silos and a fully equipped husking shed. There is also cattle grazing on the property located 20 minutes from Byron Bay.
Helen Huntly-Barratt and Caroline Pritchard at <a href="https://www.realestateview.com.au/Real-Estate/151-federal-drive-federal/Property-Details-buy-residential-8053786" target="_blank">First National Byron Bay have the listing</a>.
It has 270 degree rural views of the surrounding countryside through to Minyon Falls and the valleys below. 
It has 60 acres of lush rainforest.
The accommodation on the estate is expansive with a large main homestead with a self-contained flat, manager's quarters and a guest cottage.
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jchancellor-FAypfDUnLy

Macadamia farm on Byron Bay ridge line still for sale

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The Abbott government gave the details of its crackdown on foreign investor property compliance on Saturday.
It is aimed at those who have illegally bought Australian real estate.
Investors will have until 30 November to come clean and sell their properties or face potential prosecution under the moratorium.
For those who have broken the rules, penalties will be tougher under the crackdown, including possible jail terms.
Under legislation to be introduced this year, penalties will be increased to $127,500 or three years' jail for individuals, and $637,500 for companies.
The government hopes the new Foreign Investment Review Board (FIRB) regime will be in place by 1 December.
Treasurer Joe Hockey announced a moratorium to encourage people who have made unlawful purchases.
"Those foreign investors have until 30 November to come forward and self identify," he said on Saturday. "They will be forced to sell their properties, but they will not be subject to criminal prosecution."
People who don't come forward would face the full force of the law.
The government has only ever found one case of unlawful purchase over the past decade, with the high profile purchase of Villa del Mare in Point Piper by a Chinese billionaire without the required paperwork.
Temporary residents can buy one dwelling to live in, on the condition they sell the property when it is no longer their residence.
Temporary and non-residents can buy an established property for redevelopment, if construction begins within two years with FIRB pemission.
Off the plan purchases are allowed.
As part of the crackdown, the federal government will transfer residential real estate functions to the Australian Taxation Office, which will use its data-matching systems to identify possible breaches.
Third parties – such as lawyers or real estate agents – who knowingly assist a foreign investor to breach the rules will also now be subject to penalties, including fines of $42,500 for individuals and $212,500 for companies.
A comprehensive land register is yet to emerge.
The Prime Minister insisted Australia was still "open for business" despite the crackdown.
"I really want to stress that this is a government which is pro-business and pro-investment," he said. "We are certainly pro-foreign investment, but it does have to be the right foreign investment."
He said he wants a real estate playing field that is "at least level" and if possible "slightly tilted towards the locals".
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FIRB illegals moratorium until 30 November: Joe Hockey

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Marshall White auctioneer James Tostevin secured a strong $6.35 million result when <a href="https://www.marshallwhite.com.au/57-broadway-camberwell-235798/" target="_blank">57 Broadway, Camberwell</a> went to weekend auction.
Tostevin was recently<a href="/news/james-tostevin-secures-third-win-as-australias-top-selling-agent"> named Australia's top selling selling agent</a> for the third consecutive year by Real Estate Business.
The auction was held in the park opposite the house, starting with a $5.2 million vendor bid. The 1896 home last sold at in December 2003 at $1,577,500.
Buyer's agent Mal James recalled there was a queue to get in during the open for inspections.
"While different, it had many similarities with the home we bought over $6 million a few doors away with the same agent (James Tostevin), same type (big period), same overseas buyer interest, same locale (Tara estate) a little while ago," James advised.
"Same incredibly strong turnout and result north of $6 million occurred for this brilliantly presented home – the value of fastidiousness and attention to detail was as good as I’ve seen – well done seller."
Ailu (pictured below), the 1885 Camberwell mansion, became the suburb's record price holder at auction last May. It fetched $6.8 million at its Marshall White auction with three strong bidders.
<img src="/images/2014/05/26/camberwell_0000_1.jpg.jpg" alt="Ailu, the 1885 Italianate Camberwell mansion, fetches $6.8 million record price">
The landmark Italianate, slate roofed Victorian residence on a 1,580 square metre block, last sold for $1.1 back in 1996. Locals advise that the earlier Camberwell record was set when lawyers Peter Gordon and partner Kerri O'Toole secured $6.275 million in 2012 for 69 Broadway. It was a five bedroom 1901 home on a 3300 square metre holding sold through Kay &amp; Burton which had likewise sold in the mid-1990s, selling at $1.25 million in 1998.
CoreLogic RP Data puts <a href="/news">Camberwell</a>'s median at a near record $1.38 million. 
CoreLogic RP Data's latest sale advisory gave the cheapest Victorian home to sell as 228 Broadway, Dunolly (pictured below) for $110,000 through Kate Ashton at Ballarat Real Estate. The Central Goldfields Shire district cottage last sold at $78,000 in 2008.
<img src="/images/2015/05/04/dunolly%20may%204.jpg" alt="">
There are 13 Broadway's across Victoria from Altona North to Wycheproof.
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Broadway homes star in recent Victorian sales- both at the cheapest and dearest ends

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Stockland’s residential deposits are running at the highest levels in five years with the developer saying it is well placed to achieve full year lot settlements at the upper end of its 5,000-6,000 expectations.
There was "strong momentum" going into FY16, its chief executive Mark Steinert said, adding Stockland was on track to achieve 7.0 – 7.5% earnings per share (EPS) growth in FY15, tightening previous guidance, on presenting its quarter three stock market update.
There were 1,427 net deposits for the quarter, the strongest year to date result in over five years, with third quarter results impacted by moderation in Queensland though confidence re-emerging following the Queensland election.
Stockland reported Victorian market conditions remain robust while reduced net deposits were achieved in NSW due to limited Sydney releases and settlements delayed pending the delivery of trunk infrastructure.
The successful summer sales campaign drove WA volumes, where market conditions continue to moderate.
“We continue to be disciplined in implementing our strategy to grow returns and this has seen us achieve another positive quarter across all areas of our business,” Steinert said.
Expanded customer reach and continuing positive market conditions sees Stockland on track to settle at the upper end of its 5,000 to 6,000 lots through the cycle target range in FY15 with strong momentum going into FY16.
“Our focus on creating thriving communities that enhance the wellbeing of our customers continues to drive high satisfaction," Steinert said.
"A recent survey of residents in our masterplanned communities revealed that our customers have a personal wellbeing score well above the Australian average.”
Stockland has acquired around 4,000 new lots during the quarter, including residential lots and apartment sites.
The Group’s other core businesses also continued to perform well, with Retirement Living and Logistics and Business Parks making good progress implementing their growth strategies.
The Retirement Living business is on track to deliver an increase in sales in FY15, with the $160 million Cardinal Freeman redevelopment in Ashfield, Sydney, underway with the first stage of 28 apartments, due for completion in April 2016, already 65% reserved.
Construction of stage two has now commenced.
Stockland has reported strong retail sales during the third quarter, with comparable specialty sales showing the strongest growth since 2009.
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Queensland election boosts confidence (and the bottom line): Stockland

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The Victorian agent James Tostevin has taken the crown of Australia’s top selling agent.
Tostevin, of Marshall White &amp; Co, took out the win in industry websitE Real Estate Business’ Top 100 Agents rankings for the third consecutive year.
The annual rankings, now in their fourth year, is judged after agents submit their own entry, so excludes many leading agents who decline to participate.
The coastal eastern suburbs Sydney-based agent Alexander Phillips from Phillips Pantzer Donnelley and Marcus Chiminello, also of Marshall White's prestige eastern suburbs Melbourne office, secured the next two rankings.
Together the three accounted for nearly $1 billion in residential real estate sales.
To earn a spot in the top 100, agents are judged on the number of sales they made last year, the total value of properties sold and their efficiency.
In the last year, 8,610 properties were sold by the top 100 agents with revenue totalling nearly $6 billion, Tom Sullivan, publisher of Real Estate Business, said.
Real Estate Business’ Top 10 Agents
1. James Tostevin, Marshall White
2. Alexander Phillips, Phillips Pantzer Donnelley
3. Marcus Chiminello, Marshall White
4. Ric Serrao, Raine &amp; Horne Double Bay/Bondi Beach
5. Simon Harrison, Belle Property Lane Cove/Hunters Hill
6. Glen Coutinho, RT Edgar
7. Michael Clarke, Clarke &amp; Humel Property
8. Jason Boon, Richardson &amp; Wrench Elizabeth Bay/Potts Point
9. Adrian Bo, McGrath Estate Agents
Equal 10. Ben Collier, McGrath Estate Agents
Equal 10. Peter Chauncy, McGrath Estate Agents
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James Tostevin secures third win as Australia's top selling agent

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Australia's superannuation funds typically invest just 0.3% in agricultural investments, according to a survey of 114 superannuation funds.
The sector is, however, increasingly attracting foreign pension fund investments in farmland and farming businesses.
The survey results, commissioned by accounting group BDO and conducted by the University of Queensland Business School's commercial arm UniQuest, came after Federal Agriculture Minister Barnaby Joyce accused Australian superannuation and investment funds of failing to understand the agricultural sector.
"With attracting investment from super funds, I find some of the biggest arguments is trying to get the asset managers to understand the fundamentals of agriculture," Joyce told The Australian's Global Food Forum.
"They seem to understand how to wear RM Williams boots and they like photos of horses, but the understanding of what agriculture can actually do is probably not as precise as it should be."
However, the super funds have hit back, the Australian Financial Review noted as the Association of Superannuation Funds of Australia's chief executive Pauline Vamos saying agriculture had a difficult investment history.
"Australian super funds are very well aware of the difficult history of some agricultural vehicles, particularly under managed investment schemes," Vamos said.
"The highly unpredictable nature of returns in this sector has not necessarily aligned well with the goals of super funds which are looking for less volatile income streams. However, these investments may suit sovereign wealth funds whose goals are better aligned."
 
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Australian super funds leave agriculture sector to the foreigners

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Sydney's weekend clearance rate has headed even higher to 89%.
On busy weekends during the Autumn selling season, the auction success rate has incrementally risen to regular new record levels.
And APM put Melbourne at 82%.
A home in Sydney's Burwood was the top sale at $3.45 million through Raine &amp; Horne agent Guy Lorello who was giving $2.6 millii plus guidance.
The <a href="https://www.realestateview.com.au/Real-Estate/13-ethel-street-burwood/Property-Details-buy-residential-8557388" target="_blank">five bedroom 13 Ethel Street offering</a> sits on an elevated 854 square metre complete with a north facing rear garden and BBQ gazebo plus a huge three-car garage with internal access.
The block cost $520,000 in 1998, with the house built at least 12 years ago.
<a class="photobox cboxElement" href="https://www.realestateview.com.au/portal/viewphotos?OID=8557388&amp;popup=photos" style="line-height: 1.3em;"><img src="https://images.realestateview.com.au/pics/388/13-Ethel-Street-Burwood-NSW-2134-Real-Estate-photo-1-large-8557388.jpg" alt="13 Ethel Street Burwood NSW 2134 Real Estate Photo 1" title="13 Ethel Street Burwood NSW 2134 House - Photo 1"></a>
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<div id="soldbanner">In Melbourne it was an unrenovated knockdown on <a href="/expert-insights/buying/flight-centres-geoff-harris-extends-wings-on-st-vincent-place-albert-park">Albert Park's exclusive St Vincent Place</a>.</div>
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<div>April's overall auction clearance rate of 83.6 percent was an all-time monthly high for Sydney just ahead of the previous record set in March this year of 82.8 percent.</div>
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Only the Melbourne market of winter 2001 recorded higher auction clearance rates than Sydney is currently experiencing - and only just, APM senior economist Dr Andrew Wilson said.
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<div>Sydney’s red hot auction market took a rest over ANZAC Day last weekend following weeks of recording breaking results which had peaked at 88%.</div>
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The inner west hosted the most number of auctions this weekend in Sydney with 99 followed by the city and east and the upper north shore each with 91, the south 88, and the lower north 62.
The most popular Sydney suburb for auctions was Lane Cove North with 12 followed by Mosman and Epping each with 11.
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<h2>APM's most expensive </h2>
<table style="width: 605px;" border="0" cellspacing="0" cellpadding="5">
<thead><tr bgcolor="#4b9aaf">
<th bgcolor="#4694a9" width="70">CITY </th>
<th align="center" width="auto">Location </th>
<th align="left" width="80">Value Sold </th>
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<tr id="rpMostExpensive_trMostExpensiveRow_0">
<td id="rpMostExpensive_tdMostExpensiveCity_0" align="left">Sydney</td>
<td id="rpMostExpensive_tdMostExpensiveLocation_0">13 Ethel St, Burwood NSW 2134, 5 br House, R&amp;H Burwood</td>
<td id="rpMostExpensive_tdMostExpensiveSold_0">$3,450,000</td>
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<tr id="rpMostExpensive_trMostExpensiveRow_1">
<td id="rpMostExpensive_tdMostExpensiveCity_1" align="left">Melbourne</td>
<td id="rpMostExpensive_tdMostExpensiveLocation_1">67 St Vincent Pl, Albert Park VIC 3206, 3 br House, Greg Hocking Holdsworth</td>
<td id="rpMostExpensive_tdMostExpensiveSold_1">$4,210,000</td>
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<tr id="rpMostExpensive_trMostExpensiveRow_2">
<td id="rpMostExpensive_tdMostExpensiveCity_2" align="left">Adelaide</td>
<td id="rpMostExpensive_tdMostExpensiveLocation_2">44 Marion St, Unley SA 5061, 3 br House, Belle Property Unley</td>
<td id="rpMostExpensive_tdMostExpensiveSold_2">$1,210,000</td>
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<td id="rpMostExpensive_tdMostExpensiveCity_3" align="left">Brisbane</td>
<td id="rpMostExpensive_tdMostExpensiveLocation_3">15 Sentinel Ct, Cleveland QLD 4163, 5 br House, East Coast Residential &amp; Prestige</td>
<td id="rpMostExpensive_tdMostExpensiveSold_3">$1,950,000</td>
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<h2>APM's most affordable </h2>
<table style="width: 605px;" border="0" cellspacing="0" cellpadding="5">
<thead><tr bgcolor="#4b9aaf">
<th bgcolor="#4694a9" width="70">CITY </th>
<th align="center" width="auto">Location </th>
<th align="left" width="80">Value Sold </th>
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<td id="rpMostAffordable_tdMostAffordableCity_0" align="left">Sydney</td>
<td id="rpMostAffordable_tdMostAffordableLocation_0">34 Katoomba Av, San Remo NSW 2262, 3 br House, R&amp;H Charmhaven</td>
<td id="rpMostAffordable_tdMostAffordableSold_0">$317,000</td>
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<td id="rpMostAffordable_tdMostAffordableCity_1" align="left">Melbourne</td>
<td id="rpMostAffordable_tdMostAffordableLocation_1">11 Jacks Wy, Maribyrnong VIC 3032, 4 br House, Rendina Real Estate</td>
<td id="rpMostAffordable_tdMostAffordableSold_1">$100,000*</td>
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<td id="rpMostAffordable_tdMostAffordableCity_2" align="left">Adelaide</td>
<td id="rpMostAffordable_tdMostAffordableLocation_2">3 Napoleon Ct, Paralowie SA 5108, 3 br House, LJH Walkerville</td>
<td id="rpMostAffordable_tdMostAffordableSold_2">$330,000</td>
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<td id="rpMostAffordable_tdMostAffordableCity_3" align="left">Brisbane</td>
<td id="rpMostAffordable_tdMostAffordableLocation_3">2/111 Kingston Rd, Woodridge QLD 4114, 2 br Townhouse, HAR M1</td>
<td id="rpMostAffordable_tdMostAffordableSold_3">$166,000 
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APM's price records seemingly dropped a 0, as the property was marketed with $950,000 hopes. 
 
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Sydney's weekend clearance rate heads even higher to 89%

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A strong clearance rate of 80% was recorded at Melbourne auction, after 905 auctions were reported to the REIV.
It compared to 69% this weekend last year.
The highest sale reported to the REIV was $4.21 million in Albert Park, with <a href="/expert-insights/buying/flight-centres-geoff-harris-extends-wings-on-st-vincent-place-albert-park">whispers it sold to the neighbouring BRW Rich Lister Geoff Harris</a>.
There was a total volume of $642 million with the 83% success rate for houses triggering an $839,000 median house price sale, according to REIV chief Enzo Raimondo. 
The clearance rate for apartments was 74% with a median $616,000 price.
Unreported sales included $2,565,000 for the Wayne Gillespie-designed Toorak house of the Sydney-based TV presenters Andrew Denton and Jennifer Byrne.
Fairfax Media reported it had last sold at $2.35 million in 2010, reflecting less than 2% annual price growth. There were four bidders after the opening $2.2 million offer.
The four-bedroom house at <a href="https://www.realestateview.com.au/Real-Estate/24-woodside-crescent-toorak/Property-Details-buy-residential-8615230" target="_blank">24 Woodside Crescent</a> (pictured above) was listed through Kay &amp; Burton. It sits in a cul-de-sac with a pool and European-inspired terrace.
It was briefly advertised for rent at $1700 a week in May last year.
Another Toorak home, also bought in 2010 was sold at weekend auction for $4.6 million, having been bought for $3.79 million at 7 Power Avenue.
The Georgian-style, three-storey house at 7 Power Avenue was first sold by Neil and Nada Youren at $1.25 million, the top sale at the weekend when it was offered in 1995. The 772 square metre block cost $500,000 in 1994.
The most popular suburbs for auctions across Melbourne were South Yarra, Preston, Reservoir, Cheltenham, Brunswick and Glen Waverley this weekend.
REIV TOP 5 HOUSES 
1. 67 St Vincent Place, Albert Park $4,210,000 2. 23 Orrong Road, Elsternwick $3,010,000 3. 9 Glenview Avenue, Malvern $2,990,000 4. 37 Hopetoun Avenue, Canterbury $2,830,000 5. 81 Bogong Avenue, Glen Waverley $2,510,000 
REIV TOP 5 BARGAIN HOUSES 
1. 2 Chelmsford Crescent, St Albans $300,000 2. 13 Photinia Street, Doveton $302,000 3. 28 Welwyn Parade, Deer Park $313,000 4. 19 Deveney Street, Pakenham $315,000 5. 3 Eugenia Street, Doveton $320,500
REIV TOP 5 APARTMENTS 
1. 2/27 Darling Street, South Yarra $2,175,000 2. 3B Bryson Avenue, Brighton $2,115,000 3. 32A Sunlight Crescent, Brighton East $1,755,000 4. 20 Waverly Street, Sandringham $1,677,000 5. 10A Butler Street, Camberwell $1,485,000 
REIV TOP 5 BARGAIN APARTMENTS 
1. 4/6 Mayston Street, Hawthorn East $201,000 2. 5/6 Mayston Street, Hawthorn East $230,000 3. 36A Windrock Avenue, Craigieburn $236,000 4. 180A Grand Boulevard, Craigieburn $242,500 5. 36 Windrock Avenue, Craigieburn $257,000
Source <a href="https://www.reiv.com.au/Property-Research" target="_blank">REIV</a>
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Less than 2% annual price growth as Andrew Denton and Jennifer Byrne secure Melbourne auction sale 

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Geoff Harris, the co-founder of Flight Centre, spent $12 million to upgrade in Albert Park last year.
And when the opportunity to buy the unrenovated home next door came up at auction today, the chance to expand appeared presumably irresistible.
There were just the two bidders, with local onlookers suggesting the new neighbour may have triumphed.
No confirmation from the selling agent Warwick Gardiner of Greg Hocking Holdsworth after the 302 square metre property sold for $4.21 million, well in excess of the anticipated $3 million plus expectations. 
A Victorian double-fronted, was marketed as the last unrenovated property in the trophy home square. 
Built in 1867, it originally was one of only three houses in the block between Montague Street and Merton Place, its first owner/occupier sailor, William Whitmore. It last sold around eight decades ago. 
Harris sits in 40th place on the BRW Rich List with an estimated $975 million net worth.
His $12 million purchase was of Hollyford, the much admired 1873 neighbouring residence, (pictured below) holds the mantle of the suburb's top sale.
Hollyford was built about 17 years after St Vincent Place was laid out, modelled on the English idea of houses clustered around its central landscaped gardens.
The heritage listed St Vincent Place home comes with rear Nicolas Murray-designed extension on its 480 square metre block.
The project involved restoring the front four rooms of an Italianate Victorian double fronted house along with a full width linear pond which marks the transition to the modern more informal living spaces which flows onto the garden and lap pool.
It previously sold in 2002 at around $2.2 million.
<img src="/images/2014/05/13/albert%20park%20may%2013%20two.jpg" alt="">
Hollyford, which has its 1873 construction date on its gorgeous vined facade, was the home of the mariner, Thomas Mowbray Hutchinson, according to the land title documents that Property Observer has researched. He owned the holding from 1867 to 1875, there with his wife, Honora and six children. He died in 1888 in Chusan Street, St Kilda with a subsequent 1899 court case over his estate.
<img src="/images/2014/05/13/albert%20park%20may%2013%20one.jpg" alt="">
Then pawn broker James Healy owned Hollyford for just 14 months. The Hammond family held the property from December 1876 until its sale to the Ryan family from Tipperary in 1899. It seems they gave the house its name as Hollyford is a small village in County Tipperary. The best known family member was George Ryan, who died in 1986, and was old enough to recall the picket fence left over from St Vincent Place's days as a racecourse. The Ryans sold around 2002.
Harris quit full-time duties at Flight Centre in 1998, and left the board in 2008. He remains a large shareholder of the company and has had subsequent success with Retail Zoo, the company behind Boost Juice  and Salsas Fresh Mex Grill.
His redundant Albert Park abode for $5,808,000, a five bedroom, tri-level Kerferd Road house.
He bought premises in inner Melbourne Collingwood which has been now rented out at $5 a year to the Reach Foundation, and then in 2013 the Victorian-era Collingwood former bordello building, Cromwell Manor, was made available to <a href="https://www.streat.com.au/cromwell" target="_blank">STREAT, an organisation that trains and employs homeless young people</a>, for just $5 a year for the 50 years. Cromwell House was bought for $2,585,000.
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Flight Centre's Geoff Harris extends wings on St Vincent Place, Albert Park?

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A 5,050 square metre Mosman residential holding – the Sydney suburb's largest harbourfront estate – has been offered for sale.
It has been listed by its $20 million, early 2012 buyer, Ying Li. 
Title Tattle gleans the seller already has a higher offer on the table.
They are intent on briefly testing the market through <a href="https://www.domain.com.au/property/for-sale/house/nsw/mosman/?adid=2011950616&amp;sp=2" target="_blank">the House 18 World Square marketing campaign</a>. 
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The lowdown on the reason for the top end trophy home listing was the family doesn't want to embark on its likely three year replacement home construction project.
It was bought in 2012 from the retired car dealer Laurie Sutton and his wife, Di.
The residence had been the Sutton’s home for almost 35 years. 
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But the estate was best known as being the home of the Pick a Box presenters Bob and Dolly Dyer, who sold in 1977 for $376,960, when they headed to Queensland. 
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Despite renovations over the past three decades, there were still traces of the Dyers' day, including the imposing sandstone fireplace in its living room.
The Bay Street offering has been listed by Michael Zhu at House 18 World Square agency.
The 2012 purchase highlighted a small, but emerging, trend of buyers of Chinese origin buying luxury homes around Mosman. 
It is not known if the acquisition was by a foreign buyer requiring FIRB approval or new migrants, expats or long-time citizens, through Ying Li gave his address for official purchasing purposes as a solicitor's office at Colin Biggers &amp; Paisley.
<img src="/images/stories/sutton1.jpg">
The Bay Street tropical holding is like Hawaii meets Hamilton Island on Middle Harbour on Quakers Hat Bay.
<img src="/images/stories/sutton6.jpg">
Bob Dyer, who was a hillbilly Tennessee vaudeville singer on his arrival in Australia in 1937, had paid £15,068 for the property in 1950, after upgrading from a house on the Balmoral side of Mosman as he earnt increased wages from his radio gig.
<img src="/images/stories/sutton2.jpg">
Dyer went on to host the television show BP Pick a Box between 1957 and his retirement in 1971.
Dyer, with his raucous "Howdy, customers" greeting, presided over contestants who faced a sudden-death decision of choosing between "the money or the box" with the secret prize.
<img src="/images/stories/bobdyer.jpg" width="150">
He died in 1984. His widow – who, as Dolly Mack, had been a Sydney Tivoli showgirl in her teens – lived for another 20 years.
The listing in 2009 <a href="https://www.propertyobserver.com.au/new-south-wales/mosmanites-playing-property-pick-a-box-with-caution/2011081251139">had expectations of beating Mosman's $22.5 million house price record</a>.
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Mosman's $20 million plus Pick a Box harbour estate listed by upgrading Chinese vendor

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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