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Commonwealth Bank of Australia chief Ian Narev has said that the housing market would be able to withstand a dip in prices - as long as there is enough employment to service debts.
“This idea that if property prices dip 10% suddenly everything is underwater and even if it is people will walk away from houses isn’t right," Narev told a Commonwealth Bank fixed income conference in Sydney.
"The key question is can people service the debt. And the key [question] there is do they have a job.”
“The number one thing we look at is the unemployment rate.”
He suggested risks in the housing market were an inevitable consequence of historic low rates, adding that<a href="/expert-insights/buying/new-investors-facing-risk-as-painful-housing-market-correction-likelihood-increases-rba"> </a><a href="/expert-insights/buying/new-investors-facing-risk-as-painful-housing-market-correction-likelihood-increases-rba">Reserve Bank of Australia deputy governor Philip Lowe’s fresh warning</a> on Tuesday about property investors taking on risks was an example of a macroprudential tool. 
“By talking about the risks in the housing market, [Lowe] is already exercising macroprudential tools, which is making people aware of it,” he was reported as saying in the Australian Financial Review.
Narev agreed with the RBA and Australian Prudential Regulation Authority that a further macroprudential tool of limiting low deposit loans via caps on loan to value ratios was not appropriate.
At CBA, the average loan-to-value ratio was 48%, compared to around 20% over the whole economy and a figure in the 60s for the origination of mortgages. It was also important to remember that banks in Australia had full recourse to other assets, which reduced the incidents of default, Narev said.
Narev recently said the bank was satisfied it was holding appropriate levels of equity to withstand any housing market shock after stress-testing the bank’s $400 billion mortgage book.
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jchancellor-FAypfDUnLy

Jobs key to property prosperity through any price decline: CBA's Ian Narev 

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Two waterfront development sites in Canberra’s Yarralumla Bay have sold for a combined $1.78 million to the neighbouring Canberra Girls Grammar School.
Located on the shores of Lake Burley Griffin, Block 15, Section 17 sold for $860,000 while Block 16, Section 17 sold for $920,000.
The two sites are three kilometres from Capital Hill and five kilometres from Canberra City.
JLL managing director for ACT Andrew Balzanelli and JLL head of investment sales for ACT Greg Lyons handled the Land Development Agency offerings.
There were six registered bidders.
The Canberra Girls Grammar School (CGGS) principal Anne Coutts said the acquisition presented an exciting phase in the development as the school moves towards its 90th anniversary in 2016.
Picture of Canberra Girls Grammar School courtesy of AY Arktos/<a class="mw-mmv-license cc-license" href="https://www.propertyobserver.com.au/https://creativecommons.org/licenses/by-sa/2.5" target="_blank">CC BY-SA 2.5</a>.
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Canberra Girls Grammar School buys adjoining sites

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Champion trainer Brian Hancock has relisted his Calderwood harness racing property Teeny Lodge for auction this weekend.
The 22-hectare property at <a href="https://teenylodgeforsale.com.au" target="_blank">582 Calderwood Road property</a> has been listed with Starr Partners Windsor and W. M. Carpenter &amp; Associates Bowral.
It has stabling for 35 horses, day yards, 12 paddocks, staff quarters, office and 700 metre training track at the base of the escarpment close to Albion Park.
With Brian Hancock retiring from the racing industry, the property will be on the market for the first time in 40 years, <a href="/news/harness-racing-legend-brian-hancocks-teeny-lodge-listed">although listed in June last year</a>.
It has been marketed as a wonderful nursery for the breeding and training of Australia’s honour roll of trotting.
An impressive five Inter Dominions wins has entered Teeny Lodge into racing folklore with winners such as; Koala King, Thorate, Weona Warrior and the legendary Our Sir Vancelot, winning three times.
It was named after Hancock’s first champion pacer, Teeny Rena.
The holding can now be further developed pending council approval, due to its status as General Rural in the Wollongong district.
It goes to <a href="https://www.realestate.com.au/property-other-nsw-albion+park-7682815" target="_blank">Sunday onsite auction.</a>
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Retired harness racing legend Brian Hancock relists Teeny Lodge

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The commercial component of a new three level building development at 69 Canterbury Road in Canterbury has been sold.
Gray Johnson agent Scott Ashby secured $485,000 for the ground floor 74 square metre space inclusive of two car spaces.
The buyer is a medical consulting group who intend to use the property for their own occupation. 
The development has two luxury apartments on each of the two upper levels. 
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Melbourne medical consulting group secures Canterbury commercial space

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An Oakleigh development site with a land area of 9,279 square metre has been listed through the estate agents, Crabtrees Real Estate.
The 6-14 Wells Road corner property holds an Industrial 1 zoning. Offers close October 23. 
Selling agent Crabtrees director Chris McKenzie says that the cleared property had been unused for some years. 
It formerly was a timber storage yard for prominent merchants O’Shea &amp; Bennett.
McKenzie says he expects the property to attract offers of the order of $400 per square metre. 
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Vacant Oakleigh industrial site for sale

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AMP Capital and Billbergia have begun marketing Brisbane’s tallest residential tower - an 88-storey tower at 222 ­Margaret Street.
Marketed as <a href="https://www.realestate.com.au/project-brisbane+skytower-qld-brisbane+city-600006095" target="_blank">Brisbane Skytower</a> (pictured above), it will reach the city maximum height of 274 metres, potentially equalling Shayher Group’s proposed  82-storey residential tower on 300 George Street.
At 81 levels and 249 metres tall, <a href="/expert-insights/buying/a-sneak-peek-inside-brisbanes-highest-apartment">Meriton's Infinity</a> is currently the tallest residential tower in the Brisbane which topped Meriton's Soleil (243 metres), Riparian Plaza (250 metres) and the Queensland ­government’s under construction 1 William Street (258 metres).
With more than 1,100 apartments, the Brisbane Skytower will include 192 serviced apartments, 368 one and two bedroom lowrise apartments, 335 one and two bedroom midrise apartments and 238 one, two and three bedroom highrise apartments.
A deck on the 89th floor will have an infinity pool.
AMP Capital’s Select Property Portfolio No. 3 (SPP3) and Billbergia have prices starting from $425,000 for a one-bedroom apartment through CBRE.
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Brisbane Skytower joins race to be the city's highest residential tower

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New property investors are taking on higher risks as prices are already high and growth in rents has slowed, the Reserve Bank of Australia (RBA) has warned.
"I contend that a reasonable interpretation of events is that they are leading to some increase in overall risk," Philip Lowe, the RBA deputy governor told the Commonwealth Bank of Australia's 7th Annual Australasian Fixed Income Conference.
"It is important to make clear that I am not saying that this will end badly, or even that is likely to end badly – just that, on average, recent loans are probably a bit more risky than those made earlier.
"One reason this might be the case is that the likelihood of some type of painful household balance adjustment in the event that there is a correction in the housing market, while still not high, has probably increased. Given this, it is prudent for both borrowers and lenders to be careful."
Lowe noted the Australian Prudential Regulation Authority (APRA) has been discussing this evolution of risk with financial institutions for some time, with consideration of "modest and sensible changes" within the existing prudential framework.
His commentary on the housing marketed noted the very strong demand by investors to buy housing for the purposes of renting. 
"Currently, loan approvals to investors buying properties to rent out account for nearly 45% of total loan approvals, with most of the investment properties being existing properties," said Lowe.
"Perhaps not surprisingly, the biggest increases in housing prices have occurred in the city where investor demand has been strongest – namely Sydney. 
"Overall, investor credit outstanding is growing at an annual rate of close to 10%, around twice the rate of increase in household income. 
"A fairly high and increasing share of these investor loans do not require the repayment of any principal during the life of the loan. 
"And this is all occurring in an environment in which growth in rents has slowed and the ratio of housing prices to income is at the top end of the range experienced over the past decade or so."
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New investors facing risk as painful housing market correction likelihood increases: RBA

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Ngara, the 1916 birthplace of the late Prime Minister, Gough Whitlam at 46 Rowland Street, Kew faces injudicious demolition following its $3.3 million recent sale.
It was built in 1915, the block having been bought two months after the wedding of his parents, Fred and Mattie.
Despite some alterations to the façade, it is still clearly recognisable as a typical Federation brick villa, which triggered recent heritage consideration.
However the Victorian Premier Denis Napthine and Planning Minister Matthew Guy declined to save Ngara when approached in May shortly after Boroondara Council unwittingly gave demolition approval to the home with history. Radio 3AW <a href="https://www.3aw.com.au/blogs/3aw-breakfast-blog/whitlam-home-to-be-wasted/20141016-3i44g" target="_blank">spotted the pending demolition last week</a>.
The house dates back to the 1910 subdivision by Walter Hiscock, an accountant, who had purchased six acres.
His fourth sale was the 1,155 square metre block to the future parents of Gough Whitlam.
Edward Gough Whitlam, future Prime Minister of Australia, was born on 11 July 1916 to Harry Frederick (“Fred”) Whitlam and Martha (“Mattie”) Whitlam nee Maddocks.
According to the birth announcement, the birth took place at Ngara, Rowland Street, East Kew (<a href="https://www.propertyobserver.com.au/https://trove.nla.gov.au/ndp/del/article/1590998" target="_blank">Argus, 22 Jul 1916: page 13</a>).
The Whitlams took a mortgage out from the State Savings Bank of Victoria on 30 January 1915 under the Credit Foncier programme to finance construction of the house which was completed by May 1915. 
Fred Whitlam was born in Prahran in 1884 becoming a clerk in the Victorian Department of Lands and Survey in 1901, before moving to the Commonwealth Public Service in 1911 at the land tax branch of Treasury.
He moved to the Commonwealth Crown Solicitor’s Office in 1913, just before his marriage.
In 1917 Fred Whitlam was promoted to senior clerk and then moved to the Sydney office in 1918 selling the family home on Rowland Street on 25 October 1917. 
Fred Whitlam and family then moved to Canberra in 1927 to become assistant crown solicitor and was crown solicitor from 1936 until his retirement in 1949. 
The Whitlams sold the house at 46 Rowland Street in 1917 to tailor, Samuel James Woods and Mabel Lucy Woods. 
Later owners, the Swinnertons, made a number of alterations to the house in the late 1950s and early 1960s, with optometrist William Swinnerton acting as owner-builder extending the front bay window, doubling its depth and adding a bowed multi-pane window influenced by the Georgian Revival style.
It was the Swinnerton family who sold it in January 2014 to Youqing Laing through Jellis Craig Real Estate.
The former prime minister Gough Whitlam died today aged 98.
The house is a modest-sized Federation villa with tuckpointed brick and roughcast walls, and a high pyramidal roof with an asymmetric composition created by half-timbered gabled bays to the front and side elevations.
The roof is covered in Marseille tiles with four chimneys showing an Arts &amp; Crafts influence with roughcast shafts, and flat copings resting on brick headers.
Original windows to the side elevations retain floral leadlight casement windows, typical of the time. 
As the house at 46 Rowland Street has suffered some external alterations visible from the public domain – particularly the infilling of the front verandah and the enlargement of the front bay window – it clearly falls short of the strict heritage requirement, according to its heritage consideration.
But instead could have qualified as a place worthy of heritage protection because of its association with a famous person. 
There are a number of places individually listed on municipal heritage overlays, as well as the Victorian Heritage Register, because they served as the residence of a prime minister during his time in office.
As Melbourne served as the national capital until 1927, prior to this all Australian prime ministers had a residence in Melbourne during their time in Parliament. 
<ul>
<li>Boroondara HO315 – 10 Howard Street, Kew. A handsome and intact two-storey house built in 1912. Robert Menzies owned and occupied it 1928-60, encompassing his time as prime minister.</li>
</ul>
<ul>
<li>Boroondara HO285 – 167 Cotham Road, Kew. A single-storey double-fronted Federation-style villa of brick construction, which features a distinctive centrally-placed square porch with Art Nouveau parapeted walls. Intact apart from a rear extension. Built in 1911, it was owned and occupied by Billy Hughes 1915-24, during his time as prime minister.</li>
</ul>
<ul>
<li>Southern Grampians HO375 – “Nareen”, Colraine-Nareen Road, Nareen. A Victorian timber homestead owned by the Fraser family 1946-2000 and closely associated with Malcom Fraser during his time as prime minister in the 1970s. The gardens were developed by Malcolm and his wife Tamie.</li>
</ul>
<ul>
<li>VHR H1126 – “Ballara”, 57-73 Glaneuse Road, Point Lonsdale. An early bungalow built in 1907-08 as a holiday home for then-prime minister Alfred Deakin.</li>
</ul>
<ul>
<li>VHR H1998 – “Bruce Manor”, 34 Pinehill Drive, Frankston. An architect-designed, Mediterranean Revival villa built for Stanley Bruce in 1926, during his time as prime minister. He left Australia in 1932. The house is intact and its design was influential at the time.</li>
</ul>
<ul>
<li>Moreland HO298 – 2 Fallon Street, Brunswick. A typical block-fronted timber house of c1906, with a high level of intact detail. It was rented by John Curtain from 1913-15 during his days as an anti-conscriptionist, prior to his WWII-time term as prime minister. The house is of architectural significance and historic interest only for its ‘brief association’ with John Curtin.</li>
</ul>
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Matthew Guy declines request to save Gough Whitlam, Kew birthplace from demolition

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<div>
The Horsham Plaza in regional Victoria’s Wimmera region has been sold for $24.85 million.
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The 12,701 square metre neighbourhood shopping centre is on a 2.1 hectare land Darlot Street holding.
It is anchored by a Kmart and includes 26 specialty stores. 
It last sold for $12 million in 1996.
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Horsham Plaza sold for $24.85 million

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The designer Ken Done has sold his Queen Street, Woollahra, retail property. It fetched $2.25 million.
The building was last traded through McGrath estate agent, James Dack, who secured $900,000 in 1991 from Done who intended it to be used as a residence and gallery.
The property, 6.1 metre wide by 30.3 metres deep, was also sold in 1985 for $200,000.
Back in 1992 Ken Done lost Land and Environment Court proceedings having bought the building without expecting the council to get tough about its permissible uses.
He didn't have the Woollahra Council permission to set it up as a commercial gallery for what was his most expensive, and less "tourist related", art.
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Designer Ken Done sells Queen Street, Woollahra retail shop

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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