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The three-bedroom Bondi Beach apartment in The Bondi of the Fitness First founder Tony de Leede has been listed for sale.
The entrepenuerial Tony De Leede, also founder of Queensland's Gwinganna Lifestyle Retreat, has $4 million-plus hopes through Raine &amp; Horne agent Ric Serreo for the 180 square metre space.
He paid $2,725,000 for <a href="https://www.propertyobserver.com.au/https://www.raineandhorne.com.au/doublebaybondibeach/properties/390926" target="_blank">the Campbell Parade PTW-designed apartment</a> in 2010, which comes with limed American Oak floors.
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jchancellor-FAypfDUnLy

Tony de Leede lists Bondi Beach apartment

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NSW Planning Minister Rob Stokes has signalled the state government was set to clarify its position on SEPP 65.
It follows confusion on the expected minimum size of Sydney apartments following a Land &amp; Environment Court judgement on a Botany residential development site.
That clarity could come from the government as early as next month.
"The amended policy (SEPP 65) will be released shortly and it will provide certainty about minimum apartment sizes," Stokes told The Australian Financial Review.
Clarity on SEPP 65, introduced in 2002, has been sought by the development industry.
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Small Sydney apartment rules to be clarified by new Planning Minister

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Yes, the luxury Bronte house was rented by The Voice judge Ricky Martin, but it is the design features that truly sing.
Bronte Wave House is a Walter Barda designed beach house completed in early 2014.
<a href="https://www.domain.com.au/for-sale/138-bronte-wave-house-138-hewlett-street-bronte-nsw-2024-2011918584" target="_blank">More than $13 million</a> is tipped for its 18 May auction.
Feaures include the lap pool which is indoor-outdoor complete with portholes that allow the swimmer to see into the ground floor living area.
There are limestone floors from the open-plan living areas to the wide terraces overlooking the ocean.
The property is listed with D’Leanne Lewis of Laing &amp; Simmons, Double Bay.
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La bomba! Walter Barda's Wave House, Bronte

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The federal Treasurer Joe Hockey has slammed efforts to curb negative gearing, claiming it would drive up rents and deter property investment.
Hockey's comments followed Shadow Treasurer Chris Bowen raising the possibility of changes to negative gearing to help raise revenue and increase housing affordability.
Bowen did not suggest abolishing negative gearing, and went so far to say no major party ever would, but told the National Press Club it would be "irresponsible to rule out going to the next election with changes to, for example, negative gearing".
Bowen said that any proposed changes should not affect existing investors and would need to be taken to an election before being implemented.
"Our principle would be that people who've invested in good faith with existing rules shouldn't be disadvantaged and anything we do should not take away from new housing stock, which is very important for housing affordability," Bowen <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2015-04-23/labor-treasury-spokesman-chris-bowen-looks-at-negative-gearing/6414558" target="_blank">told 7.30 host Leigh Sales on Wednesday night</a>, as reported by the ABC.
"And I also I think said to you that I didn't envisage either side of politics abolishing negative gearing in its entirety.
"But of course when everything is being examined in a tough fiscal situation, any responsible opposition would be considering a range of measures. But we'll be upfront about anything we do before the next election."
Hockey, who is soliciting suggestions through the tax white paper process, claimed changes to the existing tax law had many negatives.
"If you change negative gearing then there are significant flow-on consequences from people that rent homes and that needs to be properly considered," Hockey said.
"A lot of Australians have invested their hard earned money in real estate, and in doing so, they have offset the losses of that real estate against their primary income, in order to give themselves and their children some financial security.
"At the same time, there is a very strong argument that if you were to abolish negative gearing, you would see a significant increase in rents."
Bank of America Merrill Lynch economist Saul Eslake rubbished a defence by Ken Morrison of Property Council of Australia - <a href="/expert-insights/finance/lower-paid-workers-are-the-primary-beneficiaries-of-negative-gearing-pcas-ken-morrison">published yesterday on Property Observer </a>- which claimed that 80% of people who owned investment properties that negative gear were on salaries of $80,000 or less.
Eslake said that income average was the figure reached after deductions from negative gearing.
He said 250,000 of the 1.3 million people who negatively gear claim annual incomes of less than $20,000.
{mijopolls 107}
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Ending negative gearing would see rents rise: Joe Hockey

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As ANZAC Day was an important national day of remembrance, the Real Estate Institute of Queensland sought to ensure its membership did not trade this Saturday.
“The last time Anzac Day fell on a Saturday was in 2009, and in the past 25 years it has only fallen on a Saturday three other times," REIQ CEO Antonia Mercorella said.
"While the law has been the same every year, this year Anzac Day falls on a Saturday and it’s possible that some real estate agents booked advertising well in advance and without realising the significance of this particular Saturday.
“We have reminded our membership that holding an open house, either for the purpose of selling a property or to rent a property, is strictly prohibited."
Mercorella said that while there were a few open houses booked throughout the state for this Saturday, she expected these were due to oversight, rather than wilful disregard for the law. 
"We have notified all members that under the Trading (Allowable Hours Act) 1990, factories and shops in Queensland are required to close on Anzac Day with some limited exceptions."
In communications with the membership the REIQ explained that real estate offices are required to close on Anzac Day, with the one exception that offices can open for the sole purpose of leasing related activities, for example, accepting rental payments.
NSW and Melbourne agents are offering mostly afternoon auctions.
But Victorian laws could be changed to stop home auctions before 1pm on Anzac Day.
Premier Daniel Andrews is concerned about reports raised on Neil Mitchell's 3AW that home auctions will be held on Saturday morning.
"It may be legal to be having auctions and things of that nature, but I think it's pretty ordinary," Andrews said.
About 80 are scheduled for Anzac Day, with 18 due to be held before 1pm.
They included a Richmond apartment listed for 11.30am auction with $300,000 plus hopes at <a href="https://www.realestate.com.au/property-apartment-vic-richmond-119423687" target="_blank">202/120 Palmer Street</a>.
Set in the Niche complex, it has been pitched to investors with an estimated rental return of $350 per week.
The Real Estate Institute of Victoria says it was disappointing some vendors and agents had ignored their advice about maintaining respect for the day.
Amanda Lynch, chief executive of the Real Estate Institute of Australia says there was a need a nationally consistent position on ANZAC Day opening hours.
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REIQ says agents ought not trade on Anzac Day, while Victoria likely to introduce ban

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The South Yarra office and home of the murdered interior designer Stuart Rattle sold for $2.05 million at auction yesterday afternoon.
The shop front is <a href="https://www.commercialview.com.au/411-413-malvern-road-south-yarra-vic/commercial-for-sale-details-8532334" target="_blank">at 411-413 Malvern Road</a>. It cost $229,000 in 1993.
The property is where Rattle was killed by Michael O'Neill, his partner of 16 years, who later the next day set fire to the premises in December 2013. 
In September of last year O'Neil plead guilty to Rattle's murder and in February was sentenced to 18 years jail.
Thomson agent Chris Stoupas had the listing with $1.8 million expectations.
It has been repaired since the fire.
The couple's retreat, <a href="/expert-insights/buying/musk-farm-sale-draws-big-crowd-to-stuart-rattle-garden-estate-auction">Musk Farm</a> sold last year.
No one knows for sure what happened on the morning Rattle died, as O’Neill was known for embellishing stories, author of Mind Behind The Crime, Dr Helen McGrath and Cheryl Critchley noted in their book.
It's suggested the couple woke at around 6am. O’Neill claimed that they had sex the previous night and Stuart wanted to have it again but O’Neill refused.
O’Neill left the bedroom to make breakfast. A few minutes later he returned with a heavy steel pan in his hand.
O’Neill later told police that he had intended to apologise, but before he could do so Stuart called him selfish.
He hit Stuart in the head with the pan, grabbed a dog lead from the floor and strangled him with it..
O’Neill left Stuart’s body in bed and went to Musk Farm, where he stayed until Sunday.
Upon his return O’Neill bought Indian takeaway and wine, laying out dinner for two. 
Just before midnight, he lit a candle next to some curtains near where Stuart’s body still lay on the bed.
 
 
 
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Late designer Stuart Rattle's South Yarra home-shop sale

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The Gothic Revival Banyule at Heidelberg has been listed for 16 May auction, having failed to sell last year when listed with a $5.5 million asking price.
The heritage-protected 1840s homestead - one of the oldest remaining residences in Victoria - once sat on a 266 hectare holding. 
Set behind hedging, with wetland views to the Dandenong Ranges, it has an eight bedroom, four bathroom mansion.
It has been listed by <a href="https://www.realestateview.com.au/Real-Estate/banyule-homestead-60-buckingham-drive-heidelberg/Property-Details-buy-residential-8634798" target="_blank">Prue Jones at RT Edgar</a> who expects $5 million plus.
The Buckingham Drive homestead now on a 9,085 square metre holding was designed by architect John Gill for the English-born pioneer Joseph Hawdon in 1846 whose family retained the home until the 1860s.
The Gothic style was unusual for Melbourne, but more popular in Sydney.
Built before the discovery of gold, there are a handful of other buildings in Melbourne of this age, but many were originally small cottages that were extended later to become large homes.
But Banyule Homestead was intended to be a grand mansion at Heidelberg which at the time was a desirable location for the Port Phillip gentry.
In 1974 Banyule Homestead was purchased from the Simpson family for a below valuation $190,000 price by the Hamer state government, then opened as an annex by the National Gallery of Victoria.
The homestead was sold by the Kennett state government in 1995 for $815,000 to the current vendors.
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Boomtime Banyule at Heidelberg for May auction

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Property investor Richard Moseley’s Bonnie Doon holiday fibro near Lake Eildon in Victoria – which featured in the 1997 comedy The Castle as the serene holiday home of the Kerrigan family – sold earlier this year at an undisclosed price.
<a href="/expert-insights/buying/the-kerrigans-the-castle-bonnie-doon-holiday-shack-back-for-sale">It was listed last November at $240,000</a>, but came with an adjusted $225,000 asking price in the new year.
The shack sale price has now emerged as $200,000, reflecting less than 2% annual price growth over its nine year ownership.
It has been bought by Melpomeni and Angelo Katapodis of Balwyn North.
Moseley proudly secured the property for $169,950 in 2006 but then first wanted out, unsuccessfully, in 2011.
The two-bedroom cottage – located 165 kilometres from Melbourne <a href="https://www.realestateview.com.au/Real-Estate/3491-maintongoon-road-bonnie-doon/Property-Details-buy-residential-7906790" target="_blank">at 3491 Maintongoon Road</a> – was listed then at $195,000 in 2011. 
The shack sold at $50,000 in 1995, two years before its getting its enduring celebrity status.
It's annual price growth between 1995 and 2006 was at 11%.
The cast, including Michael Caton, Stephen Curry and Eric Bana, only spent one day there.
 
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How slow is Bonnie Doon? The Castle shack a steal at just $200,000

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The latest ANZ-Property Council Survey reveals a slight easing in property sector confidence.
However, supported by the weight of investor capital, confidence across the residential and non-residential property sectors remains buoyant.
There are expectations of further price growth and increased property sector activity in 2015.
While property sector confidence is positive on balance, the survey reflects increasing divergence in the property outlook across states and territories with the NSW property sector presenting the strongest outlook.
The ANZ chief economist Warren Hogan said the property sector continues to be the "bright spot" on the broader Australian economic outlook.
"Supported by the weight of investor capital, the property sector is not just creating capital growth, but is expecting to generate employment growth and increased building activity, particularly in the areas that are attracting foreign investor capital such as Sydney, Melbourne and Brisbane," said Hogan.
"Nonetheless, outside of the property sector, broader confidence indicators remain soft, non-mining activity continues to disappoint and economic growth remains subdued.
"While increasing property values are attracting the attention of policy makers, an optimistic outlook for the property sector is critical to supporting capital values, employment and property construction in the near-term.
"In particular, while the ANZ- Property Council Survey reflects a relatively stable and positive outlook for NSW and Victoria, easing property sector confidence in other states and territories bears close watching in the coming quarters.” 
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Property the economy's "bright spot": ANZ-Property Council

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Alistair Champion, the co-founder of Laser Clinics Australia, has bought a Palm Beach retreat.
It cost <a href="https://www.domain.com.au/property/sold/house/nsw/palm-beach/?adid=2008362945" target="_blank">$7 million</a>, $200,000 less than its 2010 sale by the Green hotelier family. It wsas the smaller of the two Tuscan-inspired residences sold for $7.2 million through David Edwards to veteran builder Robert Gough.
It is a bit of a trend for young Rich Listers to buy on the strip.
In 2013 Mike Cannon-Brookes, the co-founder and CEO of Atlassian Software Systems, <a href="/news/mike-cannon-brookes-the-co-founder-of-atlassian-spends-8-7-million-in-soft-palm-beach-trophy-home-market">spent $8.7 million to buy</a>.
With an estimated net worth of $43 million, according to last year's BRW Young Rich List, Alistair Champion and his wife Kate McIvor paid $5.4 million for a mansion on Bellevue Hill in 2013.
The Victoria Road house was bought from derivatives trader Ian Clody.
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Laser clinic's Alistair Champion spends $7 million on weakening Palm Beach weekender

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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