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Melbourne's median house price hit $669,000, up 5% on the September quarter after price increases in inner, middle and outer suburbs, according to the latest REIV quarterly results.
"Inner Melbourne increased by 11.7% for the year with middle Melbourne up by 13.2% and outer Melbourne at 8.9%," REIV Chief Executive Officer Enzo Raimondo said today.
Overall Melbourne house prices were up 11.7% compared with 2013.
The December quarter median house price in regional Victoria was at new records too, at $344,000, up 5.5% on September.
December Quarter 2014 Median Prices 
<table border="1" cellpadding="0"><tbody>
<tr>
<td valign="top">
Metro Melbourne
</td>
<td valign="top">
Dec-14 Quarter
</td>
<td valign="top">
Quarterly change
</td>
<td valign="top">
Sep-14 Quarter
</td>
<td valign="top">
Annual change
</td>
</tr>
<tr>
<td>
House
</td>
<td valign="top">
$669,000
</td>
<td valign="top">
5.3%
</td>
<td valign="top">
$635,000
</td>
<td valign="top">
11.7%
</td>
</tr>
<tr>
<td valign="top">
Unit
</td>
<td>
$511,500
</td>
<td>
1.6%
</td>
<td>
$503,500
</td>
<td>
5.7%
</td>
</tr>
</tbody></table>
Source: REIV
<table border="1" cellpadding="0"><tbody>
<tr>
<td valign="top">
Regional Victoria
</td>
<td valign="top">
Dec-14 Quarter
</td>
<td valign="top">
Quarterly change
</td>
<td valign="top">
Sep-14 Quarter
</td>
<td valign="top">
Annual change
</td>
</tr>
<tr>
<td>
House
</td>
<td valign="top">
$344,000
</td>
<td valign="top">
5.5%
</td>
<td valign="top">
$326,000
</td>
<td valign="top">
5.8%
</td>
</tr>
<tr>
<td valign="top">
Unit
</td>
<td>
$257,000
</td>
<td>
4.0%
</td>
<td>
$247,000
</td>
<td>
3.0%
</td>
</tr>
</tbody></table>
Source: REIV
This graph shows median house and unit prices in Melbourne over the past decade in seasonally adjusted terms.
Median prices over time 
 <a href="https://www.reiv.com.au/Property-Research/~/media/Files/Median%20Prices/2014%20Q4%20Dec/Chart_Dec14medians_300115.ashx"><img src="https://www.reiv.com.au/Property-Research/~/media/Files/Median%20Prices/2014%20Q4%20Dec/Chart_Dec14medians_300115.ashx?h=353&amp;w=599&amp;as=1" alt="" width="599" height="353"></a>
<a href="https://www.reiv.com.au/Property-Research/Median-Prices" target="_blank">Search your own suburb median</a>.
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jchancellor-FAypfDUnLy

Melbourne house median hits record $669,000: REIV

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ANZ today announced it will lower interest rates for variable rate mortgages by 0.25% per annum following its monthly interest rate review.
Effective Thursday 12 February, ANZ’s standard variable rate will be 5.63% per annum (5.73% per annum comparison rate).
The 0.25% per annum decrease will save customers about $60 per month or $750 per year for the average home loan of $280,000.
“We’ve decided to move our standard variable rate for home loans down by 25 basis points which is the same as the movement in the Reserve Bank’s official cash rate," ANZ CEO Australia Philip Chronican told ANZ’s BlueNotes news site.
“We’ve tried to have a more open discussion with the community about bank funding costs. It’s true that wholesale funding costs have eased a little bit over the last year or so and that’s taken a little bit of the pressure off.
“Importantly the effective date for this change will be 12 February which is a full eight days earlier than most of our major competitors and I think that’s an important customer benefit,” Chronican said. 
He told News Ltd that he has concerns about the property market given cheap money.
“I am cautious because if you look at the big picture around the globe, this era of very cheap money has led to asset prices rising,” he said. “It would be nice to see some of the money … going into building new capacity, new construction, businesses expanding, rather than just seeing it all being used to bid up the prices of existing assets.”
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ANZ last to announce cut, but first to deliver among big four

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Swinford, the renovated Toorak investment property of Tanya Hird, the wife of returning Essendon coach James Hird, sold at $4.2 million late last year.
It was renovated after being bought for $2.76 million in early 2011.
Set on 837 square metres close to Kooyong Village, it was speculated it came with $4.75 million plus hopes.
The five-bedroom property at 7 Toorak Avenue has been for private sale through agents Ross Savas and Michael Armstrong at Kay &amp; Burton since February this year.
Tania and James Hird reside<a href="/news/james-hird-toorak-mansion-the-home-of-1930s-high-society"> at another, much photographed, Toorak property</a> bought in 1998 for $2.4 million.
Hird's and Essendon unsuccessfully challenged the legality of the Australian Sports Anti-Doping Authority (ASADA) investigation into the Essendon Football Club's supplement program during the 2012 season at the Supreme Court in September of last year.
Hird decided to appeal the verdict, despite the club's decision not to, and his appeal was <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2015-01-30/james-hirds-federal-court-asada-appeal-dismissed/6057234" target="_blank">dismissed by the Supreme Court</a> last Friday.
He is <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2015-02-02/hird-considers-high-court-action-in-afl-asada-case/6064464" target="_blank">reportedly considering</a> whether to appeal to the High Court.
Hird played 253 game for Essendon between 1992 and 2007, becoming one of the game's most decorated players.
He won the Brownlow Medal in 1996, captained Essendon to premiership glory in 2000 and was All-Australian on five occasions.
He returned to Essendon for the 2011 season as coach.
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James Hird secured $4.2 million for Swinford, his Toorak investment property

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National Australia Bank has followed the Commonwealth Bank of Australia and Westpac in cutting the interest rate on its standard variable home loan rate by 25 basis points.
It is the full amount of the RBA's cut, taking its standard variable rate to 5.63%.
This equates to a $62.50 a month saving for the average loan customer, said Gavin Slater, NAB's head of personal banking. 
National Australia Bank also reported unaudited cash earnings of $1.65 billion for the quarter, up 6% on the prior period.
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NAB cuts to 5.63% standard variable rate

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Former Victorian government planning minister and AFL footballer Justin Madden has joined engineering consultancy Arup's Melbourne office as a senior consultant.
 "Justin brings with him significant experience and understanding of theareas of strategic project delivery and planning for major infrastructureand building projects," Arup's Melbourne office leader Joseph Correnza told Fairfax Media.
Based in Victoria, Madden's focus includes the ongoing development of the local built environment, working with public and private sector clients in helping deliver their project outcomes. 
Madden's career includes 15 years in the Victorian Parliament, having held seven ministerial portfolios within successive Victorian labor governments across 11 years. Prior to his parliamentary career, Madden held the role of president of the AFL Players Association during an AFL career totalling 332 AFL games with both Carlton and Essendon football clubs. 
Madden is also a registered architect.
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Architect Justin Madden joins Arup engineering consultancy

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Two of Melbourne’s leading commercial agencies - Teska Carson and Kliger Wood - have merged businesses.
The agencies have a combined 100 years experience in the Melbourne market, Kliger Wood having been founded in 1938 and Teska Carson 25 years ago.
The new entity will have management of several thousand Melbourne rental properties.
Teska Carson founding director, Ion Teska said its personalised, hands-on approach for its clients would continue.
Kliger Wood’s managing Director, Barry Novy noted the similarities in client base and professional approach. 
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Teska Carson and Kliger Wood agencies merge in Melbourne

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The Real Estate Institute of Tasmania (REIT) has released its December Quarter Property Report revealing both an increase in house sales volume and the median house prices for the quarter.
REIT president Tony Collidge said the median house price for Tasmania saw a 4.5% increase for the quarter to $315,000, the highest median house price recorded since December 2010 when the state’s median house price peaked at $320,000.
The report also revealed a slight increase in house sales volume across the state up 3.1% on the previous quarter.
Hobart’s median remained steady for the quarter at $360,00. Launceston’s median house price rose 7.2% for the quarter, a 3.3% increase on December 2013.
Click to open in new window:
<a href="/images/2015/02/05/hobart-feb-5-one.png" target="_blank"><img src="/images/2015/02/05/hobart-feb-5-one.png" alt=""></a>
Source: REIT
Nine municipalities had a median price higher than the state median. These were Clarence ($370,000), Hobart ($475,000), Huon Valley ($349,000), Kentish ($333,500), Kingborough ($395,000), Latrobe ($344,500), Meander Valley ($320,000), Sorell ($325,000) and the Southern Midlands ($340,000).
“Breaking these figures down into regions, we can report that house sales in Hobart increased for both the quarter and the year, up 11.2% and 2.4% respectively," said Collidge.
“Launceston house sales were also up, recording a 5.1% increase for the quarter, while the North-West centres bucked the trend, reporting an 11.5 decrease for the quarter.”
Click to open in new window:
<a href="/images/2015/02/05/hobart-feb-5-two.png" target="_blank"><img src="/images/2015/02/05/hobart-feb-5-two.png" alt=""></a>
<a href="/images/2015/02/05/hobart-feb-5-three.png" target="_blank"><img src="/images/2015/02/05/hobart-feb-5-three.png" alt=""></a>
<a href="/images/2015/02/05/hobart-feb-5-four.png" target="_blank"><img src="/images/2015/02/05/hobart-feb-5-four.png" alt=""></a>
Source: REIT
Collidge said whilst increases in median house prices were observed across most of the state, the price distribution of sales differed significantly.
“Hobart saw 31% of all house sales occur below the $300,000 price point, while 59% occurred between the $300,001 and $600,000 bracket, and 10% of sales came in above that price, which included 10 sales up to and above $1 million dollars,” he said.
“While in Launceston, 58% of the quarter’s sales were recorded below $300,000, 40% between $300,001 and $600,000, while only 2 two% of all houses sold were above this price point.
“In contrast, the North West Centres saw 76% of all house sales occur below $300,000 and the remaining 24% fell into the bracket of $300,001 - $600,000."
“It’s interesting to note the appearance of a wide range of regional areas in Tasmania making it onto the list of locations with higher median house prices compared to the state average.
“The removal of the First Home Owners Grant on 1 July for purchasers buying established dwellings, resulted in a marked decrease in house purchases from first home buyers, with sales from this market segment dropping from 17%, to now sit at 13% of all house sales.
“Second home buyers picked up the 4% loss in first home buyers and continue to hold over half the market, accounting for 57% of house sales and a median house purchase price of $330,000.
“The report also revealed that 10 percent of sales occurred to overseas purchases while interstate buyers remained steady at 15% for the quarter.”
Click to open in new window:
<a href="/images/2015/02/05/hobart-feb-5-five.png" target="_blank"><img src="/images/2015/02/05/hobart-feb-5-five.png" alt=""></a>
Source: REIT
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31% of Hobart house sales below $300,000: Is the Apple Isle ripe for investor harvesting?

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The Smorgon family heirs Norman and Tania Smorgon sold their Toorak home late last year, reputedly for around $19.25 million, to Fiona Verrocchi, from the pharmacy family.

They initially wanted $25 million for their trophy home as they undertook repeated sales campaigns.

The latest tender closed mid-December, long after its fanciful October 2013 front page The Age spruik (below) that failed to yield the desired record price. Marshall White agent Marcus Chiminello took over the listing without fanfare about a month before its sale.

<img alt="" src="/images/2015/02/04/age-feb-4-three.jpg">

Source: The Age, 18 October, 2013

<a href="/news/sir-rod-eddington-downsizes-toorak-homes">Toorak prices are not always heading positively upwards, </a>despite the best endeavours of estate agents. 

The six bedroom 750 Orrong Road, Toorak estate comes with a tennis court and pool on its 5,450 square metres.

Fiona and Mario Verrocchi currently reside at Caulfield North.

The Smorgons paid $3.05 million in April 1995 for the 1920s home which was sold by the family of the then Polish businessman Abe Goldberg. 

<img alt="" src="/images/2015/02/04/age-feb-4-four.png" style="line-height: 1.3em;">

Source: The Age, 18 October, 2013

Goldberg's daughter, Mrs Deborah Lea Furst, paid $3.95 million in 1987, and thought the property had been sold in 1991 for $4.1 million, but Title Tattle recalls the deal unravelled.

Furst's husband, Zev Furst, was briefly a co-director with Abe Goldberg of the textile giant Linter Group, which produced such labels as King Gee, Speedo and Stubbies. It collapsed in early 1990 with debts of around $1.3 billion.

There was talk of a $20 million sale in October this year, but it didn't eventuate. The sale price would need to surpass the $19.8 million paid for the nine-bedroom Avon Court mansion on Shakespeare Grove, Hawthorn in May which holds the year's top sale mantle.

Norman Smorgon heads Escor, their private company that manages the family's interests. 

The Escor Group was created by the family of Eric Smorgon, the late co-founder of Smorgon Consolidated Industries.

Eric Smorgon's grandson is Norman Smorgon. Eric Smorgon's family quit Russia in 1926 to escape Stalin and anti-Semitic sentiment.

They arrived in 1927 at Port Melbourne on the Kommisar Romel, settling in Carlton where young Eric began work as an electrical apprentice.

The $24 million achieved in 2010 by the Baillieu family remains Melbourne's top sale when a St Georges Road trophy estate sold to property developer Harry Stamoulis.

Marshall White selling agent Marcus Chiminello would only confirm its sale, not its reputed sale price.

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Verrocchi family buy Smorgon's Toorak trophy home

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Having been listed last October with much higher private treaty asking price, 261 The Esplanade, Torquay has now been scheduled for 14 February onsite auction.
The three bedroom three bathroom contemporary house apparently created quite a stir when it was built.
More than $2 million is being suggested for the house with its front door on the side.
It has no obvious windows at the front, instead encased in western cedar timber battens, some of which operate as shutters.
<a href="https://www.realestate.com.au/property-house-vic-torquay-118688087" target="_blank">The timber and concrete home was designed by </a>Wolveridge Architects, <a href="https://wolveridge.com.au/portfolio/torquay-house/" target="_blank">built in 2012</a>.
It was shortlisted in the 2013 Victorian Architecture awards.
Located just off the Esplanade, the house faces coastal sand dunes on one side and the Sands Resort and golf course on the other. The block doesn't have sea views but it's a two minute walk to Whites Beach. 
The house has a large 13 metre long open-plan living area with Jetmaster fireplace, with the heart of the house, its entrance foyer with its spotted-gum stairs, encased by a wicker screen, which was hand-woven onsite.
It is being sold by owner Becca Hetrel through Hockingstuart agents James Finn and David North.
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Stunningly designed Torquay trophy home set for February auction

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Today's tweet is for admirers of W Somerset Maugham.
The account is edited by real estate activist and pioneer, Neil Jenman who is planning a new book, How Maugham Can Change Your Life.
"Ideas, suggestions and comments welcome," <a href="https://twitter.com/W_S_Maugham" target="_blank">he advised</a>.
<a href="https://www.propertyobserver.com.au/https://twitter.com/W_S_Maugham/status/562534153321582592" target="_blank"><img src="/images/2015/02/04/tweet-feb-4-one.jpg" alt=""></a>
The twitter page comes with Jenman's Blue Mountains district home study (pictured below) lined with the works of his favourite novelist that he has been collecting since 1976.
<img src="/images/2015/02/04/maugham%20feb%204%20one.jpg" alt="">
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Tweet of the day: W Somerset Maugham joins Twitter via enthusiast Neil Jenman

A trio of Queensland property groups have unveiled plans for a $300 million mixed-use redevelopment of the former Noosa Bowls Club site, a proposal that would deliver more than 200 new homes in one of the Sunshine Coast's most supply-constrained markets.

Kilter Property, Frank Developments and Calile Malouf Investments are behind the plans for the 1.8-hectare site at <a href="https://www.apartments.com.au/new-apartments/99-noosa-drive-noosa-heads-qld-4567">99 Noosa Drive</a>, which would transform the long-vacant site into a new residential precinct featuring 208 apartments, retail, hospitality and public space.

The proposal comes as Noosa continues to grapple with housing affordability and a shortage of permanent accommodation, particularly for key workers. The site's location in Noosa Junction, close to shops, public transport and employment, aligns with the direction of Noosa Council's Housing Strategy, which encourages higher-density housing within established activity centres rather than continued urban expansion.

The draft plans include 48 affordable-by-design apartments and 48 rooming accommodation units aimed at key workers. Around 2,000 sqm of ground-floor retail and food and beverage space would activate the street frontage, alongside a new public town square and landscaped open space.

<img alt="Noosa" data-entity-type="file" data-entity-uuid="2dd02f53-1360-4e51-801e-bfd61a6c980e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-26%20at%208.44.34%E2%80%AFPM.png?VersionId=x1iNs3BSMN6Jy7YUwaBZMHRrrKX2hMpy" />

&nbsp;

Frank Developments Founder and Director Frank Licastro said the development would continue the company's focus on architecturally-led residential projects while addressing one of the region's biggest challenges.

"Not only will this project exude a sense of luxury, it will also enhance not only the built environment but also the surrounding community," Licastro said.

"Noosa's success relies on the people who live and work here. Providing well-designed accommodation for key workers is critical to supporting the local economy and ensuring the Shire can continue to thrive."

Kilter Property Co-Founder Huw Williams said the focus was on delivering additional permanent housing while creating a mixed-use destination that benefits both residents and the wider community.

"Our focus is on delivering a well-considered mixed-use project that provides more permanent housing options, supports local workers and businesses, and delivers an exceptional product for the local market," Williams said.

"The redevelopment vision aligns with the long-term evolution of Noosa Junction as a vibrant activity centre, creating a destination that enhances the area's character while delivering significant economic and community benefits."

Calile Malouf Investments, best known for its role in Brisbane's James Street precinct and The Calile Hotel, will bring its place-making experience to the project. The company recently commenced construction on The Calile Noosa hotel and says the residential development will complement its growing investment in the region.

CMI Director Cal Malouf said the aim was to create a walkable precinct combining housing, retail and hospitality while remaining true to Noosa's character.

"We see a similar opportunity in Noosa to deliver a vibrant, walkable destination that combines exceptional housing, hospitality and retail in one integrated project," Malouf said.

Brisbane-based Cavill Architects has been appointed to design the project.

Joel Robinson

Noosa Bowls Club to be redeveloped into mixed-use apartment precinct

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.

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.

Jonathan Chancellor

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