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The Commonwealth Bank has pinpointed five reasons why house price bubble signs are not evident in Australia.
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It listed the five factors that typically characterise a house price bubble.
It then gave their reasons why they are not evident in Australia. 
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Unsustainable asset prices, but the current situation is: Prices supported by the excess of demand over supply Australia’s population continues to grow at above average rates Supply-side responding – lift in construction underway 
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Speculative investment artificially inflates asset prices, but the current situation is: Investor interest is a rational response to low interest rates, rising risk appetite and the pursuit of yield. 
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Strong volume growth driven by relaxed lending standards, but the current situation is: Already stringent standards tightened through GFC Minimal “low doc” lending Mortgage insurance for higher LVR loans Full recourse lending 
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Interaction of high debt levels and interest rates, but the current situation is: A high proportion of borrowers ahead of required repayment levels Interest rate buffers built into loan serviceability tests at application Housing credit growth remains subdued – at the bottom end of the range of the past three decades.  
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Domestic economic shock – trigger for price correction, but the current situation is: Respectable Australian economic growth outcomes Relatively low unemployment, high quality lending, low arrears
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Source Commonwealth Bank June 2014 results presentation
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jchancellor-FAypfDUnLy

The five reasons why there is no Australian house price bubble: CBA

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The Brisbane-based residential developer Devine has announced a pre-tax profit of $5.6 million for the six months to 30 June, well up on the $6.9 million loss for the previous corresponding period.
Managing director David Keir said a turnaround had been achieved and that prospects were good.
“The company expects to deliver a full year result of $10 million to $11 million profit before tax,” Keir said.
“Residential market conditions are continuing to improve in the company’s key operational regions of South East Queensland and Victoria.”
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The period was characterised by good trading performances across the company’s land development operations and an improved operational result from the homes business, the company notice advised.
Although they noted the South Australian residential market was "continuing to face challenges in a post-stimulus environment".
Its development operations and the constructions business reported:
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Land settlements of 392 allotments, with 85% of the full year settlement forecast either settled or subject to contract 
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314 housing construction commencements, with 80% of the full year target already commenced or subject to contract 
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Apartment sales of 97 apartments; including the pre-public release success of Mode at Newstead and the closing out of Hamilton Harbour with only one apartment of the 660 developed to be sold. Hamilton Harbour: only one apartment unsold DoubleOne 3: now nearing 90% sold Mode at Newstead: 70% sold or reserved prior to public release
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Sale of the company’s 50% interest in the Parramatta apartment opportunity capitalising on the value uplift since acquisition 
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Practical completion of the Devine / Investec DoubleOne3 apartment development to enable settlements to occur from July 2014 
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Growth of the Devine Constructions work-in-hand to $179 million with the award of the Westmark Milton contract for Walker Corporation (277 apartments) 
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Cashflow surplus of $41.8 million for the six months, a strong improvement on the prior corresponding period. 
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Its majority shareholder Leighton Holdings has recently announced that it was seeking to sell its half shareholding in the company.
The ASX announcement advised during the period to June 2014 the company undertook and achieved the following outcomes:
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Asset sales delivering more than $70 million to Devine were achieved as part of the capital recycling program with all assets sold at or above book value; 
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A detailed review of the Company’s business strategy and subsequent implementation of key outcomes; 
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Interest bearing debt reduction of $60 million resulting in a gearing level of 16% at June 30; 
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Accelerated trading levels across many of the Company’s projects; 
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No interim dividend has been declared. 
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South East Queensland conditions improving, but South Australia soft: Devine

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The Bank of Queensland chief executive Stuart Grimshaw has resigned to pursue a non-banking opportunity outside Australia at a small financial services company in the United States, the NASDAQ listed Ezcorp which owns the Cash Converters franchise. It also has outlets in Mexico through Grupo Finmark and the UK through Cash Genie.
Last month, the leading provider of easy cash solutions for consumers, announced that Mark Kuchenrither, the chief financial officer of EZCORP, had been appointed interim chief executive officer by MS Pawn Limited Partnership, the majority shareholder.
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The bank chairman Roger Davis said the board was disappointed.
His appointment was announced in August 2011 and after selling in the tony Sydney suburbs of Killara and Whale Beach, Grimshaw joined BOQ on 1 November 2011, succeeding David Liddy, who has been the chief since April 2001.
The board recently confirmed that the bank was on track to report full-year cash earnings after tax in line with consensus estimates of $298 million.
The results will be reported on 9 October.
The bank is one of the oldest financial institutions in Queensland, with a network of around 270 branches, including 152 in Queensland, 52 in New South Wales, 23 in Victoria and 34 in Western Australia.
The AFR Chanticleer columnist Tony Boyd reported Grimshaw maintains "pawn brokers offer similar services to the banking by the Medicis in Venice in the 1400s."
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Bank of Queensland chief Stuart Grimshaw quits after three years for NASDAQ-listed easy cash

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The 100 diner East Brunswick premises of Helenic Republic have been listed for sale.
The initial price guidance was around $1.9 million for the 20 August auction.
It is just the premises for sale as the popular 273 square metre eatery will continue to trade after a newly signed 10-year lease.
The 340 square metre property is at 434 Lygon Street.
It has been listed by Made Establishment through the Killen Thomas agent John Camilleri in conjunction with <a href="https://www.fitzroys.com.au/property/8757/sale/434-lygon-street/brunswick-east-vic-3057/investment-(retail)" target="_blank">Chris Kombi at Fitzroys</a>. 
Hellenic Republic, with its new 10 year plus 5 and 5 year lease, is offered returning $120,000 per annum plus outgoings and GST 
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It comes with a wide corner frontage of about 10 metres to Lygon Street and 35 metres to Stewart Street 
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Made Establishment is jointly owned by celebrity chef George Calombaris, restaurant entrepreneur George Sykiotis, and steel industry barons Joe Calleja and Tony Lachimea.
The property traded at $824,000 in late 2007 when bought by George C Pty Ltd and Cerberos Pty Ltd.
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George Calombaris' Hellenic Republic, Brunswick East premises for sale

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The Mona Vale Hotel is being offered for sale.
<a href="https://www.monavalehotel.com.au/index" target="_blank">The hotel</a> has been owned by the Fernwood consortium for the past two decades, attracting about $10 million in sales per annum.
It is listed through Ray White Hotel's Asia Pacific director, Andrew Jolliffe, and Mike Wheatley, director of hotels for Knight Frank.
It is being marketed as a "truly large-format hotel built over multiple levels and situated at one side on busy Pittwater Road, which connects the entire northern beaches, and on the other side the hotel shares a boundary with a major shopping centre and the Mona Vale retail precinct".
The hotel has a 500 person capacity first-floor bar, function room and balcony.
It has a 600 people live band venue called The Attic with shows in the past including Wolfmother, Dappled Cities Fly, The Celibate Rifles, Sneaky Sound System, The Goons of Doom, and Dave Graney.
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Mona Vale Hotel listed for sale

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The Commonwealth Bank, the nation’s largest home loan lender grew its home loan book by 6.7% over the past year, while delivering a cash profit of $8.68 billion.
Its home loan book grew faster than its major competitors.
 Home loan balances increased $27 billion to $400 billion, up 7.5% over the year. 
It business and corporate loans were up 7%, or $12 billion to $184 billion.
Customer deposits rose $34 billion to $439 billion.
The chief executive Ian Narev said the bank was “cautiously positive” about the outlook for financial 2015.
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Commonwealth Bank home loan book grows 6.7%

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Applications and redemptions on some van Eyk Blueprint funds have been temporarily suspended "to protect investors’ interests".
The temporary suspension for the van Eyk Blueprint International Share Fund (VBI) has been imposed as a result of the market illiquidity of one of the underlying managers that VBI holds.
Van Eyk suspended applications and withdrawals from its $100 million Blueprint International Shares Fund last week, blaming so-called unauthorised investments by Artefact Partners, one of the fund's underlying asset managers since July 2012. 
"Contrary to our expectations, the underlying manager, Artefact Partners, elected to invest in a portfolio that was not in line with VBI’s strategy and objectives," the contested van Eyk statement said.
"The investment in Artefact Partners, constituting approximately 32% of the assets of VBI, is not “liquid” (“VBI Illiquid Investment”). Accordingly, VBI has ceased to be a liquid scheme as defined by the Corporations Act.
"As a result, van Eyk and Macquarie Investment Management Limited, the Responsible Entity of VBI, have determined that it is in the best interest of investors to temporarily suspend pricing, applications and redemptions."
Three additional funds in the Blueprint Series, with an exposure to VBI, have also been affected by the temporary suspension. The funds are the van Eyk Blueprint Capital Stable Fund (VBC), van Eyk Blueprint Balanced Fund (VBB) and the van Eyk Blueprint High Growth Fund (VBG). 
But Artefact have disputed the claim.
The head of the investment team is Richard Boon, formerly a managing director at Merrill Lynch Investment Managers and executive director of Morgan Stanley Asset Management.
Richard Boon founded Artefact Partners in 2005.
The Australian Financial Review Chanticleer columnist Tony Boyd wrote the temporary suspension of applications and redemptions on four van Eyk Blueprint funds is a "black mark" against both van Eyk, which picked the fund manager, and Macquarie Investment Management, which is the responsible entity of the funds.
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Van Eyk has no excuse for allowing one of its fund managers to make investments that triggered the illiquid rules under the Corporations Act.
The temporary suspension was an automatic response by Macquarie once it was advised Artefact, which had 32% of the assets in the van Eyk Blueprint International Shares Fund, had made an investment that was not liquid.
The investment was an unlisted property trust.
But Business Day reported Boon saying "investments have always been within the guidelines of its prospectus".
Boon said comments regarding Artefact are misleading.
The VBI fund returned -1.77% over the month of March, underperforming the neutral benchmark, in the last public announcement.
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It said the fund’s allocation to the BlackRock European Diversified Equity Absolute Return Fund was the key detractor from performance during the month.
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The fund aims to provide capital growth over the long term and have an investment horizon of five to seven years. It was marketed as not suitable for short term investment. 
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Unlisted property trust investment prompts van Eyk Blueprint funds redemptions suspension

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China’s richest man, Wang Jianlin, has committed $HK12.5 billion ($1.7 billion) to invest in Australian real estate including the construction of the Jewel, a $900 million beachfront resort on the Gold Coast.
Mr Wang, the chairman of the Hong Kong-listed Wanda Group, made the announcement to the Hong Kong Stock Exchange yesterday.
The Jewel project has approval for a triple-tower project on a 1.13 hectare site, including 110 metres of beachfront, in Surfers Paradise.
It expects the total capital commitment by Wanda to be $290 million.
As recently reported in Property Observer, the Wanda Group had been <a href="/news/chinas-richest-man-wang-jianlin-close-to-buying-into-surfers-paradise-development-site">finalising plans to take what emerged as </a><a href="/news/chinas-richest-man-wang-jianlin-close-to-buying-into-surfers-paradise-development-site">a 55% stake in the joint ventur</a>e.
Mr Wang, who holds top spot on the Forbes China Rich List, recently visited the Trade and Investment Minister Andrew Robb.
Property Observer gathers Mr Wang gifted Prime Minister Tony Abbott with an authentic Auratic china tea set and some Tong Quing Hao tea which is now in use at the Lodge in Canberra. 
Wanda Group said it would pay for The Jewel through internal resources and a mixture of debt and equity. 
The remaining stake will be held by the <a href="/news/ridong-billionaire-riyu-li-buys-bellagio-la-villa-the-gold-coast-hinterland-mansion">Ridong Group’s Riyu Li</a> and Fengliu Wu, the partners having granted unconditional put and call options.
“The board believes that given the unique location of the Jewel property and its unobstructed waterfront views along the Surfers Paradise of Gold Coast, the company is confident it can maximise the development value of the Jewel property and generate attractive returns on this investment,” it said.
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After cup of tea for PM Abbott, Wang Jianlin commits to Jewel, Surfers Paradise development

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Rathgar House in South Grafton, the northern NSW town, remains for sale after weekend auction.
The historic restored 1890s residence was listed by restaurateur Tony Karouhanis who paid $302,000 for the unrenovated seven-bedroom house last year. 
He and wife Shai had plans to open a cafe and bed and breakfast. 
Ray White Grafton agent Ben Hottes thought it would attract $450,000 plus bidding. There was a $500,000 vendor bid.
It now comes with a $500,000 plus price guidance.
Rathgar House, located at <a href="https://raywhitegrafton.com/nsw/south-grafton/1164374/">44 Schwinghammer Street, South Grafton</a>, was originally the home of the first Mayor of South Grafton.
The seven bedroom, five bathroom historic building sits on 1,514 square metres.
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Rathgar House, 1890s Grafton district home for sale at $500,000 plus

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The Blue Wiggle Anthony Field and his wife Miki have spent $3.56 million on their latest riverfront home.
It's an architecturally redesigned four bedroom 1950s home on the other side of the Parramatta River, and a bit further west.
Their Gladesville purchase follows the <a href="/news/anthony-field-finally-gets-a-wriggle-on-from-drummoyne">sale of their six bedroom Drummoyne harbourfront</a> through Pillinger Real Estate auction for $4.85 million.
The Federation-era Drummoyne Avenue property had been tipped to sell in the high $4 million range having traded in 2005 for $3.6 million when sold to the Queensland-based business partners Graeme Pratt and Jamie Marjoram, who own Pro Cuts hairdressing salons. 
The new purchase comes with beach.
It was initially listed with $2.95 million plus hopes which were revised during the marketing to $3.2 million plus hopes. 
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Blue Wiggle Anthony Field swings across to Gladesville from Drummoyne

Kew has long been regarded as one of Melbourne's premier residential suburbs. It's a location defined by its grand period homes, leafy streets and some of the city's most prestigious schools, yet it has often sat just outside the spotlight cast on neighbouring Hawthorn and Camberwell.

Increasingly, however, buyers are recognising that Kew offers much of what draws people to those suburbs, with a quieter residential setting, exceptional amenity and long-term owner-occupier appeal.

Within a few minutes' walk, residents can access Kew Junction, one of Melbourne's most established village centres. Cafés, bakeries, restaurants, supermarkets, boutique retailers and everyday services are all on the doorstep, with local favourites including Centonove, Adeney Milk Bar Cafe, and Frank &amp; Harri creating the type of walkable lifestyle that has become increasingly difficult to find in Melbourne's inner east. Beyond the immediate neighbourhood, Glenferrie Road's renowned shopping and dining precinct in Hawthorn and the retail, dining and entertainment offerings of Camberwell Junction are both just a short drive or tram ride away.

The suburb is equally well connected. Tram routes 48 and 109 provide direct access to the CBD, while High Street and Cotham Road connect residents to the wider inner east.&nbsp;Nearby access to the Eastern Freeway also places the Yarra Valley, Mornington Peninsula and Melbourne Airport within easy reach, adding another layer of convenience for weekend travel.&nbsp;It's a rare combination of connectivity and tranquillity, where quiet residential streets sit just moments from some of Melbourne's most established shopping and lifestyle precincts.

For families, Kew remains one of Melbourne's most tightly held addresses. Carey Baptist Grammar School, Xavier College, Methodist Ladies' College, Trinity Grammar, Ruyton Girls' School and Genazzano FCJ College are all nearby, while the Yarra River parklands, walking trails and sporting clubs provide another layer of lifestyle appeal.

It's within this established pocket that developer Ricdanic is delivering <a href="https://www.apartments.com.au/new-apartments/wimba-ave-kew-9-11-wimba-avenue-kew-vic-3101">Wimba Ave</a>, a boutique collection of just 13 residences across two buildings named after its location on the tree-lined Wimba Avenue,&nbsp;within one of Kew's most prestigious pockets where homes have been known to sell up to and above $8 million.

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The residences prioritise the space that buyers are increasingly searching for but struggling to find in established suburbs. Living areas extend beyond five metres in width, ceiling heights range from three to five metres, and apartments open onto private gardens averaging around 125 sqm. Selected residences also feature balconies of approximately 60 sqm, while premium inclusions include Miele appliances, double-glazed windows, EV readiness, fully electric systems and a 7.2 NatHERS energy rating.

Architect Chris Idle says opportunities to deliver homes of this scale within established suburbs have become increasingly uncommon.

"There are very few opportunities to do these kinds of developments in leafy, established suburbs," he says. "To get this level of amenity, natural light, and architectural freedom in such a setting is extremely rare."

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The architecture draws on Kew's established character through the use of handmade Krause bricks, while landscaping by John Patrick introduces 23 plant species, including nine native varieties, creating an environment which focuses just as much on nature as it does the building.

Construction on Wimba Ave is well underway by renowned high-end builder Sinjen, with completion expected in late 2027. Prices start from $2.22 million.

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Joel Robinson

The enduring appeal of Kew's tree-lined streets and village lifestyle

"For me, it's the location." That was the first thing Chris pointed to when reflecting on why he and his wife Marita decided to purchase at Candela Ivanhoe, the under-construction new apartment development by Salter Brothers in the heart of the north-eastern M​elb​ourne​ suburb. ​

"We've lived here before… everything is here," Chris said.

"Our doctor is around the corner, there's dentists, pilates, everything we need, restaurants, fast food places, two train stations, Ivanhoe and Darebin, both in walking distance. You don't need anything else."

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Just 10 kilometres from Melbo​urn​e's CBD, Ivanhoe combines direct city connectivity with the amenity of an established village community. Residents have access to highly regarded schools, expansive parklands, public transport, and a thriving retail and hospitality precinct centred around Upper Heidelberg Road, all within a neighbourhood that has retained its leafy character despite its proximity to the city.

<a href="https://www.apartments.com.au/new-apartments/candela-ivanhoe-40-upper-heidelberg-road-ivanhoe-vic-3079">Candela Ivanhoe</a> sits within the heart of this established landscape, positioned just moments from Ivanhoe Village and within walking distance of many of the suburb's most sought-after amenities.

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From Candela, residents can access cafés, grocers, wine bars, restaurants and essential services on foot, while Ivanhoe Station and Darebin Station provide direct connectivity across Mel​bour​ne. The development is also surrounded by some of the suburb's best-known lifestyle destinations, including Pinkie, Laurent, Enni, Docasa and Woodfire Pizza e Cucina, alongside Ivanhoe Plaza, Woolworths, pharmacies and specialty retailers.

Green space is another defining feature of the suburb. Darebin Parklands, Ivanhoe Park, Nellie Ibbot Park and the Yarra River trail network provide extensive opportunities for recreation, while Ivanhoe Golf Course and Ivanhoe Tennis Club continue to underpin the area's long-established lifestyle appeal.

The suburb's education offering further strengthens demand. Ivanhoe Grammar School, Ivanhoe Girls' Grammar School, Mary Immaculate Primary School and Ivanhoe Primary School have helped establish the area as one of Melbou​​rne's most sought-after schooling precincts, attracting families and downsizers alike who want to remain connected to the area.

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While location was the priority for Marita and Chris, the project itself also needed to meet their expectations.

"Whilst location was paramount, I was also looking at design of the environment and Candela ticked every box," Marita said.

"We're just thrilled with our choice."

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Developed by <a href="https://www.apartments.com.au/developers/salter-brothers">Salter Brothers</a>, Candela Ivanhoe has been designed to complement its village setting, with an emphasis on generous floorplans, natural light and practical everyday living.

Residents will have access to a range of shared amenities, including a communal rooftop garden and dedicated residential lounge, complemented by a ground-floor café and lifestyle wellbeing centre, helping foster the sense of community already emerging among future owners.

That approach has resonated strongly with the market. More than 90 per cent of purchasers at Candela Ivanhoe are owner-occupiers, with buyers ranging from downsizers and second-home buyers to young families and first home buyers, creating a genuinely multi-generational community of grandparents, parents and children. It reflects a broader shift across Melbo​​urne's apartment market, where buyers are increasingly prioritising neighbourhood quality, lifestyle amenity and long-term liveability.

Currently under construction by Ironside, Candela Ivanhoe comprises 58 apartments. Candela Ivanhoe is scheduled for completion in the coming months, and residents can move in from September. One to four bedroom residences, prices from $649,000 and limited opportunities remaining.

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Location and lifestyle drive demand at Candela Ivanhoe

As apartment buyers increasingly look beyond the four walls of their residence, the quality and depth of shared amenity has become a defining factor in how developments are designed and experienced, particularly in the high-rise, new apartment development space.

In Southbank, where high-density living continues to evolve, developers are placing greater emphasis on creating environments that support wellbeing, connection, and convenience as part of everyday life.

That approach sits at the heart of <a href="https://www.apartments.com.au/new-apartments/aura-at-melbourne-square-7-hoff-boulevard-southbank-vic-3006">AURA</a>, the latest residential tower in <a href="https://www.apartments.com.au/developers/osk-property">OSK Property</a>’s $3.5 billion Melbourne Square precinct. Rising 67 storeys above Hoff Boulevard, the 673-apartment development has been conceived around what OSK describes as a “vertical wellness ecosystem”, a layered collection of amenities that extends throughout the building rather than being confined to a single podium level.

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The amenity offering begins on the seventh level within the AURA Club, a dedicated resident hub focused on health, relaxation, and daily convenience. Here, residents will have access to an indoor swimming pool, cold plunge, spa, sauna, and steam room, alongside a fully equipped gym, reformer Pilates studio, and yoga room.

The wellness facilities are complemented by a range of spaces that acknowledge the changing ways people live and work. Work-from-home lounges and co-working areas sit alongside a library, music room, games room, cinema facilities, and open-air terrace spaces, providing residents with flexible environments that can adapt throughout the day.

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Beyond the internal amenity, AURA introduces a series of Japanese-inspired gardens that form a quieter counterpoint to the tower’s social spaces.

Landscaped retreats feature curated outdoor dining, tranquil courtyard seating, fire pit, and a tea house pavilion. Rather than functioning as simple recreational areas, the gardens have been designed as places for reflection and informal gathering, drawing on principles of balance, nature, and calm that underpin the project's broader design philosophy.

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The social amenity continues to evolve as residents move higher through the building. Levels 49 and 50 house the Meridian Club, where a lounge bar, conservatory spaces, and private dining rooms take advantage of elevated city views. At the summit of the tower, the exclusive Cumulus Club spans Levels 66 and 67, offering additional lounges, private dining, and meditation and treatment rooms positioned above Melbourne’s skyline.

For OSK Property, the extensive amenity offering reflects a broader focus on wellbeing as a core component of apartment living rather than an added feature.

“Aura stands tall as an exemplar of holistic wellness – its focus on social, physical and mental health culminate in a building that is calming, restorative and relaxing, where residents will have their own sanctuary within the well-connected and sought-after Southbank,” says OSK Property CEO Chong Boon Woon.

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AURA’s amenity strategy extends beyond the tower itself through its integration with the wider Melbourne Square precinct.

Residents will have direct access to Kennedy Park, Southbank’s 3,745 sqm landscaped public park, alongside a full-line Woolworths supermarket, childcare centre, hospitality venues, and approximately 1,600 sqm of additional retail planned within AURA’s lower levels. Together, these elements create a highly connected residential environment where daily needs, recreation, and wellness are woven into the fabric of the community.

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As Melbourne’s apartment market continues to mature, developments are increasingly judged by the lifestyle they provide beyond individual residences.

Through its combination of wellness facilities, landscaped retreats, social clubs, and precinct-wide amenity, AURA represents a shift toward a more comprehensive model of vertical living, one where shared spaces play as significant a role as the homes themselves.

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AURA elevates amenity living at Melbourne Square

Builder-developer Scion is the latest to target Sydney's booming Hills Showground Metro precinct, filing plans for more than 100 apartments within walking distance of the station.

Scion has lodged a concurrent rezoning and State Significant Development Application for <a href="https://www.apartments.com.au/new-apartments/27-33-middleton-avenue-castle-hill-nsw-2154">27–33 Middleton Avenue</a>, where it plans to replace four existing homes with an 11 and 14-storey mixed-use development comprising 109 apartments, six affordable housing dwellings, and a ground-floor café.

Designed by BHK Architects, the proposal includes three levels of basement parking with 174 spaces, more than 1,200 sqm of communal open space, and extensive landscaping across the 3,791 sqm site.

The development has been designed as two buildings connected by a recessed wintergarden spine, with the 14-storey building positioned to the south and the 11-storey building to the north.

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The apartment mix has been weighted towards owner-occupiers, with 13 one-bedroom apartments, 55 two-bedroom residences, 31 three-bedroom apartments, six three-bedroom lofts, and four four-bedroom homes. Six apartments will be dedicated as affordable housing in line with the NSW Housing SEPP.

According to the Architectural Design Report by BKH, the proposal seeks to create "a place-responsive architecture" inspired by the natural landscape surrounding Cattai Creek, while strengthening the public domain through landscaping, active frontages and a neighbourhood café.

Atlas Urban, in its Urban Design Report, says the proposal takes a different approach to increasing density around Hills Showground Station by favouring a more slender, vertically articulated built form over a conventional mid-rise outcome. The report argues this allows for greater deep soil planting, improved solar access and a better public domain outcome, while still delivering additional housing close to rapid public transport.

The site sits around 500 metres from Hills Showground Metro Station, within a precinct earmarked for significant residential intensification following the opening of the Sydney Metro Northwest line. Planning documents accompanying the application note that Greater Sydney's population has grown by more than one million people since planning for the precinct first began, reinforcing the need to accelerate housing delivery around existing transport infrastructure.

Scion is expanding its development pipeline which also includes <a href="https://www.apartments.com.au/new-apartments/chatham-west-ryde-2-6-chatham-road-west-ryde-nsw-2114">Chatham in West Ryde</a>, 62 apartments which are approaching completion. They also have a State Significant Development Application with the NSW Government's Housing Delivery Authority for <a href="https://www.apartments.com.au/new-apartments/96-anzac-avenue-west-ryde-nsw-2114">145 apartments on Anzac Avenue</a>, also in West Ryde.

First look: Scion plots Castle Hill apartment development near Hills Showground Metro Station

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>&nbsp;has unveiled its scaled-back plans for a pair of towers rising up to 49 storeys directly opposite Bella Vista Metro Station.

The builder-developer will deliver 674 apartments and a new mixed-use hub at the gateway to the station precinct.

The State Significant Development Application has been lodged under the Housing Delivery Authority pathway for the 6,979 sqm site at <a href="https://www.apartments.com.au/new-apartments/9-11-mawson-avenue-bella-vista-nsw-2153">9-11 Mawson Avenue</a>, with the apartments sitting above a mixed-use podium. Initial plans were for closer to 900 apartments across two 40-storey towers.

Located around 30 metres from the Bella Vista Metro Station entrance, the development is intended to act as a catalyst for the long-planned Bella Vista Station Precinct, transforming a vacant site into a transit-oriented residential and commercial destination.

Planning documents describe the project as delivering "a high-density mixed use destination that combines housing, retail and community-serving uses in a highly accessible setting."

<img alt="First look: Urban Property Group plans 674-apartment Bella Vista towers opposite Metro station" data-entity-type="file" data-entity-uuid="21c08216-589e-490d-ad08-2d88b6fa62d9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bella%20vista%20podium.png?VersionId=3TnwjjQCNwTsmyQRaWnFrLTSAF0CJeka" />

Designed by <a href="https://www.apartments.com.au/architects/turner-studio">Turner</a>, with landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>, the project comprises 674 apartments, including 102 affordable housing dwellings representing 15 per cent of the residential floor space. The housing mix spans studios, one, two and three-bedroom apartments, alongside a collection of townhouse-style residences integrated into the podium levels. The development also includes specialist disability accommodation and an elevated provision of adaptable and liveable housing.

The mixed-use podium has been designed to create an active urban centre around the Metro station, incorporating a 1,423 sqm supermarket, a 3,029 sqm gym, specialty retail spaces, a 100-place childcare centre and a publicly accessible "city room" community space. A secondary laneway, active frontages and landscaped public areas are intended to improve pedestrian connectivity through the site and strengthen links between the station precinct and surrounding neighbourhood.

In the project's design report, Turner said the proposal responds to Bella Vista's emerging role as a higher-density centre within Sydney's north-west growth corridor.

"The project transforms a strategically located site into a high-density mixed use destination that combines housing, retail and community-serving uses in a highly accessible setting," the report states.

"Active frontages, a publicly accessible city room, a secondary laneway and a mix of uses including a local supermarket, child care centre and gym create a more complete and socially useful urban environment for residents, workers and the wider community."

<img alt="First look: Urban Property Group plans 674-apartment Bella Vista towers opposite Metro station" data-entity-type="file" data-entity-uuid="0fde6220-82de-4f6a-9b63-d0fd8157acc9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bella%20vista%20da.png?VersionId=7hEmuSutH8plTd_RqqdmPu055F6qe554" />

Urban Property Group has been one of the busiest developers across Greater Sydney this year.

The developer is progressing around 1,000 apartments across <a href="https://www.apartments.com.au/news/nsw/first-look-urban-property-group-plans-next-major-wollongong-tower">two projects in Wollongong</a>, with several thousand more homes in the pipeline across Newcastle, Castle Hill, Little Bay and Penrith.

Jonathan Chancellor

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