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Failing to consider changing rates or personal circumstances could lead to repayment challenges down the track
With the official cash rate at an all-time low, many people are looking to take advantage and jump into the property market.
According to independently owned comparison service <a href="https://pubads.g.doubleclick.net/gampad/clk?id=136265217&amp;iu=/109628257/click_tracker" target="_blank">Mozo.com.au</a>, the average variable home loan rate has dropped below 5% - the lowest it’s been since the 1950s. Fixed rates are at record lows with the best one and two year rates now under 4%.
But do the low rates mean that it’s a great time to buy a property? Is it a risk free zone?
In a competitive market, low rates don’t necessarily mean low risk, says Steve Jovcevski, a property investment expert and home loan negotiator with Mozo.
Jovcevski says that with interest rates so low, many buyers are neglecting to do all the necessary research.
“They’re not doing the property building inspections, or seeing if there’s a power line running close by, or checking if they have their finances sorted,” he says.
“There’s all sorts of factors where you could potentially lose your deposit because you may not fit the criteria, so sort out your finances.”
Patrick Bright, founder of Sydney-based buyer’s agency EPS Property Search, says that often prospective buyers get so excited about the idea of purchasing a new home that they forget about evaluating their finances.
“They base their home loan on their current financial circumstances and don’t take into account their future plans, like starting a family, or allowing for the fact that rates will rise at some time in the future,” Bright says.
Bright says that it is important to remember that interest rates won’t stay this low forever. History shows that once interest rates do begin to rise again they can shoot up very fast. For instance, in just 13 months from October 2009 to November 2010 rates increased by almost 2%.
One of the keys to avoid the trap of rising interest rates is to ensure you can afford repayments on a higher amount.
“There’s no downside to making repayments above your required level as it gives you a safety net in case of difficult financial times or allows you to pay off your mortgage sooner,” says Bright.
While low rates are not a reason for borrowers to go overboard, they still represent a great opportunity for a buyer who does research. The Mozo home loan comparison tables show there is still a big difference between the best and worst rates on the market, with variable rates ranging from approximately 4.23% to 6.13% (at the time of writing). This difference can add up to thousands of extra dollars in interest each year, so borrowers still need to do their homework to find a competitive loan.
“A lot of people now think because they can afford the home loan the rates are going to be low forever. Obviously they are not, they change, and when they do go up, people need to make sure today they can afford that home loan 2 or 3% higher,” says Mozo’s Jovcevski.
With record low interest rates it still pays to remain patient and do your homework.
For information on property loans, rates and more, visit Mozo.com.au or <a href="http://propertyobserver.com.au/forward-planning/tools/ebooks-and-webinars/42368-get-loan-savvy-expert-tips-for-a-first-time-investment-or-refinancing-loan-in-a-free-ebook" target="_blank">click here</a> for the free Property Observer eBook, Get loan-savvy – tips for a first time, investment or refinancing loan, which helps you decide on a home loan that meets your requirements.
 
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Why low rates don't mean low risk: Mozo warns on investor traps to avoid

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Be prepared, present well and be ready to bargain to make the most of your investment opportunity
Many investors want the biggest loan they can reasonably afford, and there are some clever ways to maximise this opportunity.
By doing your research and knowing what the best rate on the market is, you put yourself in the best bargaining position when you deal with your lender.
“The more research you do, the better informed you will be,” said Marie Mortimer, managing director of loans.com.au.
“Watch what different parts of the mortgage market are doing; for example, what are non-bank lenders offering compared to the big banks?
“Online lenders are experts at keeping costs down that are passed on to customers as low interest rates and low fees. Do the sums and don’t be afraid to look outside the conventional bricks and mortar lending model for a better deal.”
There are certain aspects of your finances that banks look at to determine how much they will let you borrow.
“A strong repayment history, substantial property equity, a co-borrower or guarantor, and demonstrated capacity to meet repayments will help you maximise the amount you can borrow,” says Mortimer.
Once you’ve identified the right loan and made sure that your finances are in order, the next step is to maximise the opportunity.
“Investors often want to be able to borrow the most that they possibly can,” says Kirsty Lamont, a director at mortgage comparison website <a href="https://pubads.g.doubleclick.net/gampad/clk?id=136265937&amp;iu=/109628257/click_tracker" target="_blank">Mozo.com.au</a>. But it’s also important to ensure that you can meet future repayments.
“There are ways to go about maximising how much you can borrow. For instance if you take out a fixed rate loan, banks will calculate your borrowing capacity on the fixed term, e.g. 4 per cent for five years, whereas if you get a variable loan they will add a serviceability buffer of around 2 per cent to the current rate to determine your borrowing capacity.
When you’re looking at maximising your loan, it’s still very important to make sure you’ve done your own affordability calculations and are comfortable that you will still be able to afford those repayments down the track if interest rates rise.”
Many people don’t know that you can negotiate with a lender and by doing so you can often get a much better deal.
“A lot of us are used to the idea of walking into an electrical store and haggling a better deal for a TV, but we don’t feel comfortable haggling on an interest rate when it comes to a home loan,” says Lamont.
“But the banks are very willing to negotiate and it’s not uncommon to save yourself up to 1.2 percentage points by haggling.”
In a Mozo Mystery Shopper experiment, an expert negotiator was sent into ANZ, Commonwealth Bank, NAB and Westpac, posing as a refinancer, a first home buyer and an investor. The results showed that even first home buyers borrowing relatively small amounts could negotiate up to 1 per cent off their interest rates. The experiment also showed that the banks have different levels of discounts and tend to reserve their biggest discounts for people that bargain the hardest.
“Don’t accept the first rate that they offer you, bargain again because they have a range of discount tiers they can access and they won’t necessarily offer you their best discount straight up,” advises Lamont.
“Tell them to try again and say they are going to have to do better to win your business and often times they come in with an even bigger discount.”
Lamont says that many Australians feel uncomfortable negotiating over a complicated issue like a home loan, or assume that the lenders have all the power.
“But in the current competitive home loans climate they want your business and will bargain with you,” said Lamont.
For information on property loans, rates and more, visit Mozo.com.au or <a href="http://propertyobserver.com.au/forward-planning/tools/ebooks-and-webinars/42368-get-loan-savvy-expert-tips-for-a-first-time-investment-or-refinancing-loan-in-a-free-ebook" target="_blank">click here</a> for the free Property Observer eBook, Get loan-savvy – tips for a first time, investment or refinancing loan, which helps you decide on a home loan that meets your requirements.
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Think big – Mozo advise how to maximise your loan

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If you've had your eye on a potential investment property around the corner from where you currently live, you wouldn't be the first. There are many pros and cons to buying a property locally. For those dipping their toes into investing, it's usually their local property market that has them excited.
The certainty that comes with knowing your own area and being able to drive past your investment property can be second to none in many people's eyes. The tangibility that comes with investing in property in the first place – that you'll be buying something you can see and understand – is part of the reason it might feel safer to purchase nearby.
However, there are some crucial questions you need to ask yourself before closing your eyes to the rest of Australia.
Are you living somewhere that is expected to do well for investors? Is there somewhere better? And can you afford it?
It's unlikely that the one suburb you live in is the best investment location out of every suburb across the country.
If you own the home that you are living in, then it might actually make sense to diversify and consider a property further afield, or even interstate.
Similarly, if you haven't yet purchased in the area, it might be worth looking for other opportunities first, rather than holding yourself to one specific location. You need to make sure the area works for you, to achieve your financial goals.
Often, the reason you live somewhere is very different to the reason you invest somewhere.
There are some specific benefits to purchasing a property that is local or just a few suburbs away. You have the option to repair and renovate yourself, without having to travel long distances, and you can always do the protective drive-past if you're getting concerned about the investment. It also makes self-managing the property easier if that's a consideration. If a substantial renovation, that you will be hands on with, is part of your strategy, then it's worthwhile considering the better options closer to home.
Buying locally can also save you time if you have the required knowledge about the area's property market in advance. Many first time investors keep a regular eye on their suburb's auctions and sales.
However, having strong local knowledge and connections can go both ways.
It can be a useful set of skills to have as you seek out local experts, and if you have knowledge as to potential changes coming up for the area, the good and the bad streets, where the noisy neighbours are and so on, it can cut short your research time. But it also means you may be very biased about an area you like. You must be able to leave your emotions and assumptions at the door and look at an area with fresh eyes, as an investor not as a resident. You may find that what you think is true about the area is not the case when you take a step back.
Look at the possible return and investment figures, the rental yields and what you are getting for your investment. You may find that purchasing in a regional area, or in another state, may be more lucrative. With the internet now at your fingertips, doing some preliminary research is easier than ever.
While it may seem daunting to look at another location, this may just suggest that you haven't sufficient your research or that you may want to consider engaging a buyer's agent or other professional.
And remember, even if you decide to purchase in a location not local to you, do not shirk on your physical inspections and necessary research – it's likely to be worth the costs and due diligence.
You must also be astute about the differences from state to state. There are different real estate and planning laws across the country that you need to make yourself familiar with.

For help getting started in property investment, speak with a RAMS home loan specialist and pick up your free <a href="https://crtl.aimatch.com/pm/adclick/FCID=2762/size=1x1/viewid=1/random=1/relocate=https://www.rams.com.au/investor-pack/" target="_blank">RAMS Investor Pack.</a>

Follow RAMS on <a href="https://crtl.aimatch.com/pm/adclick/FCID=2766/size=1x1/viewid=1/random=1/relocate=https://www.facebook.com/raymondaram" target="_blank">Facebook</a>, <a href="https://crtl.aimatch.com/pm/adclick/FCID=2767/size=1x1/viewid=1/random=1/relocate=https://www.twitter.com/RAMS_AU" target="_blank">Twitter</a> and <a href="https://crtl.aimatch.com/pm/adclick/FCID=2772/size=1x1/viewid=1/random=1/relocate=https://www.linkedin.com/company/rams" target="_blank">LinkedIn</a>

Disclaimer: Information in this material in general and does not take into account your objectives, financial situation or needs and you should consider whether it is appropriate for you. You should also obtain independent professional advice relevant to your financial circumstances.

The taxation positions described are general statements and should only be used as a guide. It does not constitute tax advice and is based on current tax laws and their interpretation.

<a href="https://www.rams.com.au/home-loans/" rel="nofollow">RAMS Financial Group</a> Pty Limited does not endorse or assume any responsibility for the advice, content or services provided by Property Observer or any other third party referred to in this material.

RAMS Financial Group Pty Limited ABN 30 105 207 538 AR 405465 Australian credit licence 388065. Credit provider and issuer of RAMS deposit products: Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.
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Is it preferable to buy an investment property local to my current address?

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The popularity of house and land packages are on the rise – but selecting the right one could be a stressful and complex decision-making process.
Industry-run property portal realestateVIEW.com.au, partnered with houseandland.com.au, has simplified the search process on their site so you can decide how to find the block of land that’s right for you.
Property Observer spoke with the director of houseandland.com.au, Mark Shearer, and realestateVIEW.com.au’s general manager Petra Sprekos, to reveal how you can search for the right suburb and land estate. 
Narrow down from thousands of blocks of land to individual suburbs, or match to specific builders to create a package that fits your lifestyle.
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What paperwork do I need to prepare before going to the lenders?

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While many people consider keeping their primary place of residence and turning it into an investment property when they upgrade or move, it’s slightly less common to move into your investment property down the track.

Buying your first property as an investment and moving into it later can allow you to save substantial funds upfront, particularly if you live with your parents or are renting cheaply and have a tenant paying market rent. You may also not be ready to live in the home yet, or unable to afford it, so this provides the opportunity to get into the market early.

If you want to move in but your tenant has not yet completed their lease, make sure you speak to your property manager about your options. You are required to fulfil the tenancy agreement and provide the relevant notice periods.

A capital gains tax exemption is likely to apply for the period that you have lived in the house, however you will still be taxed on the portion of time that it was an investment and was rented.

[smartcode_project:default project_id=5910]

Living in the property for more than 12 months triggers a 50% Capital Gains Tax (CGT) reduction, says Destiny Financial founder and director Margaret Lomas. She explains that if you have lived in the property, as well as rented it during ownership, and subsequently sell at a later date, then the property incurs pro-rata capital gains tax using the cost base on the first half and the eventual sales price. It is calculated according to the days rented and not rented, with the “not rented” period attracting a CGT reduction.

However it does get more complicated if you were to rent out a portion of the property, which would require the period of time that you lived alone in the property to be calculated pro-rata as above with the potential CGT exemption, and the period of tenancy to be calculated under a different method for CGT. Moving into the property will make you lose any year to year deductible negative gearing benefits on that investment.

Speaking to your accountant is a must, as the impact will be mostly felt when you sell, not before.

If some of the major growth is still coming for the area, it may make sense to purchase a new home, bearing in mind the costs of purchasing.

For help getting started in property investment, speak with a RAMS home loan specialist and pick up your free <a href="https://crtl.aimatch.com/pm/adclick/FCID=2760/size=1x1/viewid=1/random=1/relocate=https://www.rams.com.au/investor-pack/" target="_blank">RAMS Investor Pack.</a>

Follow RAMS on <a href="https://crtl.aimatch.com/pm/adclick/FCID=2766/size=1x1/viewid=1/random=1/relocate=https://www.facebook.com/raymondaram" target="_blank">Facebook</a>, <a href="https://crtl.aimatch.com/pm/adclick/FCID=2767/size=1x1/viewid=1/random=1/relocate=https://www.twitter.com/RAMS_AU" target="_blank">Twitter</a> and <a href="https://crtl.aimatch.com/pm/adclick/FCID=2772/size=1x1/viewid=1/random=1/relocate=https://www.linkedin.com/company/rams" target="_blank">LinkedIn</a>

Disclaimer: Information in this material in general and does not take into account your objectives, financial situation or needs and you should consider whether it is appropriate for you. You should also obtain independent professional advice relevant to your financial circumstances.

The taxation positions described are general statements and should only be used as a guide. It does not constitute tax advice and is based on current tax laws and their interpretation.

<a href="https://www.rams.com.au/home-loans/" rel="nofollow">RAMS Financial Group</a> Pty Limited does not endorse or assume any responsibility for the advice, content or services provided by Property Observer or any other third party referred to in this material.

RAMS Financial Group Pty Limited ABN 30 105 207 538 AR 405465 Australian credit licence 388065. Credit provider and issuer of RAMS deposit products: Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.
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What are the implications if you move into your investment property?

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Straightforward internet searches are passé for buyers, with impressive apps providing more insight into purchase options than ever before
Searching for properties has evolved dramatically with the introduction of new media technologies.
Cloud storage, mobile internet and the increasing penetration of broadband is escalating the speed with which information is able to be transmitted and consumed – and it's made it easier than ever to find a property.
But while access to real estate information has become easier, the onus has shifted to the buyer to hunt down the best property.
Jacque Parker, president of the Real Estate Buyers Agents Association of Australia, says that while selling agents have long been the sole gatekeepers of information in the property game, technology is enabling buyers to gain some knowledge of this, and participate more in the experience.
"Buyers have far more information at their disposal and can use this to their advantage when it comes time to assess and negotiate property," says Parker.
Parker says that one of the greatest changes to the way the industry operates has been the prevalence of mobile technology.
"The largest changes have involved faster delivery of information across a multitude of devices and in a more efficient timeframe."
The savviest house hunters know that making use of this type of technology is key to keep ahead of the game.
"Buyers no longer rely on the Saturday lift-out alone, they now engage in a mix of online, mobile and paper research," says buyer's agent and director of Advantage Property Consulting, Frank Valentic.
"They're able to look for properties on their phone whilst on the move, sitting on the tram, on their lunch break."
Using real estate apps, buyers are able to keep track of current listings and keep all the information they need right in their pocket.
"Real estate apps provide more information than a simple listing, such as in-depth property market data, and the ability to schedule open for inspections or auctions in your calendar," says Valentic.
"However, this information has always been available to buyers – it's just now presented to them in a more accessible way."
Petra Sprekos, general manager of realestateVIEW.com.au, agrees that mobile technology is firmly shifting the power right into the hands of the buyer.
"While agents serve an important purpose, we are now witnessing how technology is allowing the buyer to become more informed and gain more control over the buying process," Sprekos says.
Information such as local amenities, schools, recently sold properties in the area, and median suburb prices are easily at hand in the best apps. Beautiful photos, floor plans and heat mapping technology are also helping buyers. The new realestateVIEW.com.au app has these elements, along with built-in GPS technology to help find nearby properties for sale and to rent.
Saving properties of interest, and having one click access to get in touch with agents are other benefits.
"Buyers need information, quickly and easily, and it needs to be up to date and accessible whenever, wherever," Sprekos says.
"Through customisation and targeting, we're seeing how real time information is becoming more relevant.
"New technologies are giving buyers the power to 'mould' their property seeking journey rather than passively absorb what they are being given."
 
To help with your property hunt, the new realestateVIEW.com.au app is available to <a href="https://crtl.aimatch.com/pm/adclick/FCID=3585/size=1x1/viewid=1/random=1/relocate=https://www.realestateview.com.au/mobile?utm_source=property_observer&amp;utm_medium=e%20ditorial&amp;utm_content=sponsored_post&amp;utm_campaign=app_launch" target="_blank">download here</a>.
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Tech savvy property hunting: the next trends

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<a href="https://crtl.aimatch.com/pm/adclick/FCID=3713/size=1x1/viewid=1/random=1/relocate=https://www.realestateview.com.au/mobile?utm_source=property_observer&amp;utm_medium=editorial&amp;utm_content=video&amp;utm_campaign=app_launch" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/marketing/sponsored-post/Brought-To-You-By-REV3.jpg" width="444"></a>
Potential property buyers know that the process of assessing varying prices, suburbs and hot spots can be time consuming.
Property Observer spoke to <a href="https://crtl.aimatch.com/pm/adclick/FCID=3713/size=1x1/viewid=1/random=1/relocate=https://www.realestateview.com.au/mobile?utm_source=property_observer&amp;utm_medium=editorial&amp;utm_content=video&amp;utm_campaign=app_launch" target="_blank">realestateVIEW.com.au</a>’s Head of Product &amp; Technology Raymond Smit to learn how their new mobile app can help.
It offers thousands of property listings for potential buyers to review. In this video he reveals some of the app’s nifty benefits that will put buyers ahead of the game.
The app offers cohesive data to assist the property seekers in their decision making, such as median house prices, sold property prices and median weekly rental prices. This means people can gather as much or as little information necessary to create a complete picture of their options. A key feature is a visual map view to explore points of interest around specific properties.
Watch below for more:
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What strategies are not always suited to new investors?

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Every property investor is faced with decisions, but one of the debates that many enter into early on is whether to consider buying a property for strong future capital gains prospects or for current rental yield realisation.
What is high yielding for a particular area? Yield is very specific to the individual property, and it can be further altered by the outgoings.
Balance between both – yet they’re not a "trade-off" necessarily. You do not want to be completely drained by an investment each week, and you don’t want to get cash flow coming in with little growth on the other end.
However, some investors are strictly yield chasers, looking to maximise their regular income.
With an inverse relationship seen between capital growth and rental income – a rule of thumb with many exceptions – it makes sense to <a href="/expert-insights/investing/how-to-boost-your-rental-yield">boost rental yield where possible</a>.
There are several ways to do this, including furnishing the property, offering it to multiple tenants, adding a granny flat or turning it into a holiday rental. A renovation, or adding something desirable like air conditioning, can also do wonders for justifying a small rent increase.
Strong rent is not useful when the area’s rental market is in freefall. Similarly, strong capital growth is going to be hard to hold out for when you’re paying out a substantial sum each week. Your capital growth is going to need to cover what you’ve paid out while waiting for it to occur if the investment is viable.
It’s all about your short and long-term goals, as well as your current financial situation. For every investor, this will differ.
Total yield
Total yield is a concept that brings the annualised capital growth and rental yield together to create a new figure that determines the success of the property.
For instance, a 4% yield with a 6% annualised growth creates a 10% total yield.
If you never intend to sell the properties you hold, a plan many subscribe to, then it may make sense to seek out high yielding assets for the final portfolio to sustain you in retirement.

For help getting started in property investment, speak with a RAMS home loan specialist and pick up your free <a href="https://crtl.aimatch.com/pm/adclick/FCID=2764/size=1x1/viewid=1/random=1/relocate=https://www.rams.com.au/investor-pack/" target="_blank">RAMS Investor Pack.</a>

Follow RAMS on <a href="https://crtl.aimatch.com/pm/adclick/FCID=2766/size=1x1/viewid=1/random=1/relocate=https://www.facebook.com/raymondaram" target="_blank">Facebook</a>, <a href="https://crtl.aimatch.com/pm/adclick/FCID=2767/size=1x1/viewid=1/random=1/relocate=https://www.twitter.com/RAMS_AU" target="_blank">Twitter</a> and <a href="https://crtl.aimatch.com/pm/adclick/FCID=2772/size=1x1/viewid=1/random=1/relocate=https://www.linkedin.com/company/rams" target="_blank">LinkedIn</a>

Disclaimer: Information in this material in general and does not take into account your objectives, financial situation or needs and you should consider whether it is appropriate for you. You should also obtain independent professional advice relevant to your financial circumstances.

The taxation positions described are general statements and should only be used as a guide. It does not constitute tax advice and is based on current tax laws and their interpretation.

<a href="https://www.rams.com.au/home-loans/" rel="nofollow">RAMS Financial Group</a> Pty Limited does not endorse or assume any responsibility for the advice, content or services provided by Property Observer or any other third party referred to in this material.

RAMS Financial Group Pty Limited ABN 30 105 207 538 AR 405465 Australian credit licence 388065. Credit provider and issuer of RAMS deposit products: Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.
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Should I be looking for capital growth properties or high yielding investments?

One of Brisbane's last major riverfront redevelopment opportunities has taken a significant step forward, with Lendlease selected as the Queensland Government's preferred development partner for the former Visy site in South Brisbane.

The seven-hectare industrial site, positioned between South Bank and West End and 1.3 kilometres from the Brisbane CBD, will be transformed into a mixed-use precinct expected to deliver more than 4,000 new homes alongside extensive public open space and riverfront parkland.

The project is one of the largest urban renewal opportunities currently planned in Brisbane and is expected to play a key role in accommodating the city's growing population ahead of the 2032 Olympic and Paralympic Games.

Plans for the precinct include a network of riverfront promenades and boardwalks, new public plazas, parkland, amphitheatre-style gathering spaces and shared pedestrian and cycling links designed to reconnect the long-isolated site with the Brisbane River.

The Queensland Government is targeting delivery of the first homes and key public spaces before the 2032 Games, allowing the precinct to begin contributing new housing and public amenity well before the broader masterplan is complete.

The redevelopment is also expected to support more than 3,000 jobs across planning, construction and ongoing operations.

For Lendlease, the appointment adds another major urban regeneration project to its Queensland portfolio. The developer has operated in the state for more than 70 years and has delivered a number of large-scale mixed-use precincts in partnership with government.

Lendlease Development CEO Claire Johnston said the project represented one of Brisbane's most significant redevelopment opportunities.

"The transformation of the former Visy site represents a rare opportunity to reimagine one of Brisbane's most significant riverfront locations, deliver thousands of much-needed homes, and create long-term legacy," Johnston said.

"In partnership with the Queensland Government, we have the opportunity to create a new riverside destination that will help shape Brisbane's growth and how people experience the city for decades to come.

"This is exactly the type of large-scale, city-shaping development that will provide lasting benefits for Queensland, bringing together housing, jobs and world-class public spaces."

Deputy Premier and Minister for State Development, Infrastructure and Planning Jarrod Bleijie said the riverfront transformation would deliver a thriving new community precinct.

“The Crisafulli Government is delivering this golden opportunity to unlock a riverfront jewel for all Queenslanders,” Deputy Premier Bleijie said.

“This is a once-in-a-generation moment to reshape a significant slice of Brisbane and deliver lasting benefits – thousands of new homes, and public spaces for all Queenslanders to enjoy well beyond the 2032 Olympic and Paralympic Games – unlike Labor’s plan which would have delivered zero benefits and zero new homes.

“Queensland is well and truly open for business and through partnership with the private sector, we are accelerating delivery while ensuring strong housing, community and economic outcomes."

Early works on the precinct are expected to commence in April 2027.

Joel Robinson

Lendlease selected to deliver transformative South Brisbane riverfront precinct

Eddy Haddad's <a href="https://www.apartments.com.au/developers/level-33">Level 33</a> is levelling up its approved Wollongong development, as the coastal city south of Sydney continues to prove popular in the high-density development space.

Level 33, a longtime developer in the Wollongong area, has gone through the NSW Government's Housing Delivery Authority to upsize its approved two-tower development on the corner of Crown Street and Gladstone Avenue, just 100 metres from Wollongong Station.

The developer currently has approval for 252 apartments across two buildings rising to 19 storeys. It is now seeking approval for 33 and 38-storey towers that would deliver 467 apartments, including 67 affordable homes.

Designed by <a href="https://www.apartments.com.au/architects/bka-architecture">BKA Architecture</a>, the development would comprise apartments above a three-level podium with around 1,100 sqm of retail space, along with basement parking for 448 vehicles.

According to the Urban Design Report by BKA, the proposal has the capacity to "reinforce the precinct's identity by strengthening links between health, education, and transport services, while also contributing to Wollongong's ongoing evolution as a key regional centre."

Wollongong is somewhat in vogue. Between Level 33 and Urban Property Group, the two developers have several thousand apartments planned across the city.

Level 33 is currently delivering Easterly Wollongong, one of its most boutique projects to date with just 21 high-end apartments, as well as Atchison &amp; Kenny, a 329-apartment development due for completion later this year.

The developer plans to redevelop the 13,088 sqm WIN Grand megasite into <a href="https://www.apartments.com.au/new-apartments/crown-square-216-238-keira-street-wollongong-nsw-2500">Crown Square</a>, a new $500 million precinct with nearly 600 apartments. It also has more than 900 apartments planned for the former Bunnings Warehouse site at the intersection of Gipps and Flinders streets.

Urban Property Group is also playing a major role in the city's transformation. Its five-tower Keira Place precinct will deliver more than 800 homes, and it has recently lodged plans for a further 300 apartments near Wollongong Station.

First look: Level 33 upsizes Wollongong apartment towers

Just a week after filing plans for the final stage of its major Keira Place masterplan, <a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has unveiled another significant housing proposal in Wollongong, this time targeting a prominent site opposite North Wollongong Station.

The developer has lodged a State Significant Development Application for a 38-storey mixed-use tower at <a href="https://www.apartments.com.au/new-apartments/4-4a-flinders-street-north-wollongong-nsw-2500">4-4A Flinders Street</a>, around one kilometre north of the <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place precinct</a> currently taking shape on the edge of the CBD.

<img alt="First look: Urban Property Group plans 38-storey North Wollongong tower as Keira Place expansion gathers pace" data-entity-type="file" data-entity-uuid="2b6428f1-6405-4038-8476-897de440e90d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/flinders%20podium.png?VersionId=QLqEvK0OuCEwRC47oHNftrw2B1YqaHF8" />

Designed by Studio.SC, the proposal comprises a 38-storey mixed-use development containing 303 apartments, including 45 affordable housing units, alongside 174 co-living residences. The scheme also includes ground-floor retail space, extensive landscaping and public domain improvements.

Studio.SC noted in the proposal it "outlines a vision for a landmark transit-oriented mixed-use development centred around North Wollongong Station, designed to support the city’s future growth while responding to the NSW Government’s housing and planning reforms."

The architecture firm said the proposal responds to the opportunities and constraints shaping future growth within the 400-metre catchment of the station and represents "a coordinated and future-focused approach to urban intensification, contributing to the long-term evolution of North Wollongong as a connected, walkable and high-density station precinct."

The site occupies a strategic corner bounded by Flinders Street, Station Street, Stafford Street and the Princes Highway, directly opposite North Wollongong Station.

<img alt="First look: Urban Property Group plans 38-storey North Wollongong tower as Keira Place expansion gathers pace" data-entity-type="file" data-entity-uuid="7863adad-1f71-4022-b850-f44b252738fd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/flinders%20podium%20a.png?VersionId=WsU7av0g8_8R2tGHWxgHeFSlhu7yeY1V" />

The proposal follows Urban Property Group's recent submission for the second and final stage of Keira Place, which would deliver a further three buildings comprising 657 homes opposite Beaton Park. It builds on the first stage, which features 150 apartments across two towers and recently commenced construction.

Urban Property Group CEO Patrick Elias said breaking ground on the first stage marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/urban-property-group-unveils-trio-of-towers-for-next-stage-of-new-wollongong-precinct-keira-place">Urban Property Group unveils trio of towers for next stage of new Wollongong precinct, Keira Place</a>

First look: Urban Property Group plans next major Wollongong tower

<a href="https://www.apartments.com.au/developers/arada">Arada</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'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 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 files for trio of apartment towers in Campsie town centre</a>

Arada entered the Australian market in 2024 and has rapidly assembled a significant development pipeline across Sydney. Alongside its Campsie holdings, the developer is soon to launch <a href="https://www.apartments.com.au/new-apartments/wattle-green-2-fishburn-crescent-castle-hill-nsw-2154">Wattle Green</a> in Castle Hill, and has expanded its local operations following its acquisition of construction firm Roberts &amp; Co.

Located around 14 kilometres south-west of the Sydney CBD, the site sits at the centre of one of Sydney's fastest-changing middle-ring precincts. The Metro conversion of Campsie Station, combined with Canterbury-Bankstown Council's master planning framework, is driving significant residential intensification around Beamish Street and North Parade, with thousands of new homes expected over coming decades.

First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans

For the first time in a long time, Australia's inflation story is starting to look more like a landing than a fight.

The latest Consumer Price Index figures from the Australian Bureau of Statistics showed annual inflation eased to four per cent in May, down from 4.2 per cent in April. On the surface, that might not seem like a major move. Inflation remains above the Reserve Bank's target range and some categories continue to record stubborn price growth.

But the significance of this result lies less in where inflation sits today and more in what it means for where interest rates are likely heading next.

The biggest takeaway is that inflation continues to move in the right direction.

Markets had been bracing for another sticky result after a period where progress appeared to stall. Instead, headline inflation came in softer than expected, helped by falling fuel prices and easing transport costs. Annual transport inflation halved from 6.6 per cent in April to 3.3 per cent in May, while automotive fuel prices fell 11.9 per cent during the month following lower oil prices and the impact of reduced fuel excise measures.

While petrol prices don't solve Australia's affordability challenges, they are one of the most visible and immediate costs for consumers. Falling fuel costs feed through the economy quickly, helping ease pressure on household budgets and business operating expenses.

The ABS data also showed headline inflation is now sitting at its lowest annual level in several months, reinforcing the broader trend that price growth is gradually moderating.

That trend is important because it aligns with what many economists and lenders have been saying for the last month.

Prior to this week's inflation data, ANZ, NAB and Commonwealth Bank had all shifted their forecasts, now believing the Reserve Bank had likely reached the peak of the interest rate cycle. Following the May inflation release, ANZ reaffirmed that view.

In its latest economic update, ANZ said it expects quarterly trimmed mean inflation to come in at 3.7 per cent for the June quarter, slightly below the Reserve Bank's forecast of 3.8 per cent. Importantly, the bank said that outcome, when combined with slowing economic activity, "supports our view that the cash rate has peaked".

The Reserve Bank has spent the better part of three years attempting to bring inflation under control through higher interest rates. If Australia's major banks are correct and rates have now peaked, the conversation shifts from how much higher rates could go to when they might begin coming down.

Westpac's caution comes from underlying inflation. The trimmed mean, the measure most closely watched by the Reserve Bank, increased from 3.4 per cent to 3.6 per cent annually. Housing inflation remains elevated at 6.5 per cent, reflecting ongoing increases in rents, electricity costs and new dwelling construction.

Electricity prices remain particularly problematic, rising 21.1 per cent over the past year following the removal of government rebates.

Housing construction costs are also showing signs of renewed pressure. ANZ noted new dwelling costs rose 0.9 per cent in May and are now running at an annualised pace of 8.6 per cent over the past three months. Builders continue to face higher labour, fuel and material costs, a reminder that inflationary pressures have not completely disappeared.

Housing affordability has deteriorated largely because of higher interest rates rather than higher property prices alone. Even modest reductions in mortgage rates would improve borrowing capacity, increase buyer confidence and reduce repayment pressure on existing homeowners.

While August is far from a certainty, the latest inflation result has strengthened the view that the next move in rates is more likely to be down than up. For borrowers, buyers and the development sector, that alone represents a significant shift from the conversation that dominated much of the past two years.

Lucy Eldred

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