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Tyron Hyde expects property investors may start looking into commercial and other forms of non-residential property following the passing of Federal Budget legislation on depreciation claims.
The chief of Washington Brown also expects investors will be looking into different structures to acquire the property – like companies, that have not been affected.
Parliament has passed the legislation yesterday which changes how depreciation deductions on a second-hand property can be claimed. 
Hyde says the six key takeaways from the legislation are:
1.   If you acquire a second-hand residential property after May 10, 2017, which contains “previously used” depreciating assets, you will no longer be able to claim depreciation on those assets.
2.   Acquirers of brand new property will carry on claiming depreciation exactly the way they have done so to date. This is great news for the property industry and the way it should be.
3.   The proposed changes only relate to residential property. Commercial, industrial, retail and other non-residential properties are not affected in the slightest.
4.   The building allowance or claims on the structure of the building has not changed at all. You will still need a Depreciation Schedule to calculate these deductions. This component typically represents approximately between 80 to 85 percent of the construction cost of a property.
5.   The proposed changes do not apply if you buy the property in a corporate tax entity, super fund (note Self-Managed Super Funds do not apply here) or a large unit trust.
6.   Perhaps the most interesting point: Whilst investors purchasing second-hand property can now no longer claim depreciation on the existing plant and equipment, they will have the benefit of paying less capital gains tax when they sell the property.
Tyron Hyde suggests while there has been some merit in regards to these changes, "a more balanced approached would’ve been more suitable."
"These changes will create a two-tiered property market in my view, where investors selling near-new property will struggle to compete with those selling new property.
"Developers should be dancing in the street, as there stock is now more appealing to investors.
"I suspect investors may start looking into commercial and other forms of non-residential property and also looking into different structures to acquire the property – like companies, that have not been affected."
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j.ballantyne1990-6AQqhLzZaK

Depreciation legislation will change investor property preferences and help developers: Tyron Hyde

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Jim's Group, best known for mowing lawns, has revealed they will soon be selling houses at low commission.
Jamie Byard, with colleague Trish Mewett, started the new division earlier this month in Victoria.
Byard, a 15-year veteran of the franchising group founded by Jim Penman in 1982 and Ms Mewett, a former sales director of fixed-fee real estate service Hello Real Estate, aim to have 30 franchisees in Victoria within a year.
 It's an another unexpected disruption to a traditional real estate industry.
Some people may not have expected the next wave of disruption from a man who made his millions from mowing lawns, but it was a logical move, Mr Penman said.
"Real estate is a good one for us," Mr Penman told The Australian Financial Review.
"It intersects with so many of our services, particularly in terms of property maintenance. When people don't know who to go to, we do very well. We get a lot of people ringing up for services we don't even offer."
Jim's Group, long known for mowing lawns, fixing the plumbing and cleaning pools, then kitchens, electrical work, computer repairs and conveyancing, will welcome franchisees in the new real estate business.
They will pay a fixed franchise fee of about $1800 a month and pay no commission to a parent company on sales they make.
They will reportedly also invite clients to make an offer on the commission they will pay for the sale of their house typically between about 1 per cent and 3 per cent.
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Jim's Group aims at mowing down high estate agent commissions

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GUEST OBSERVER
The Australian Competition and Consumer Commission (ACCC) has launched a public inquiry into the National Broadband Network (NBN). Already, Telstra and Optus have come forward, offering to compensate customers whose expectations of internet speed delivery were not met.
But it’s four years too late. The ACCC dropped the ball when it allowed Telstra, Optus and its competitors to launch their NBN services without specific rules concerning misleading and deceptive advertising, or an enforcement mechanism to hold the NBN company to account for connection delays, missing appointments and fault rectification.
Now we’re in a position where the problems with the NBN run deeper than what can be solved through an investigation or more monitoring. Bad decisions about the technology, lack of hard data on performance and a war of words by competing providers makes it hard to untie responsibility for the mess.
The stated aims of the ACCC public inquiry are to determine whether NBN wholesale service standard levels are appropriate, and consider whether regulation is necessary to improve consumer experiences.
The data released this week by the ACCC Wholesale Market Indicators Report shows that:
<ul>
<li>NBN Co is supplying more than three million wholesale broadband access services</li>
<li>there are 26 NBN Co retail and wholesale internet service providers (ISPs - also known as “access seeker groups”) directly connected to NBN Co’s network</li>
<li>the top four ISPs are Telstra, Optus, TPG Group and Vocus.</li>
</ul>
Optimism bias, and how we got here
In behavioural economics, optimism bias refers to the phenomenon that we think markets are going to work out well even when there is no rational basis for supposing so. A similar optimism bias is often seen in infrastructure projects.
In the case of the NBN there were a few strategic opportunities to reduce the chances of market failure, but optimism bias by policymakers let the opportunities slip by.
And now we’re in the position where – in common with energy retailers, deregulated providers of vocational education and financial services firms – ISPs have taken internet consumers and their regulators for a ride.
In 2013, when the NBN provided a Special Access Undertaking (setting out prices and terms of access to ISPs) to the ACCC, there was a great opportunity to require objectively verifiable disclosure of wholesale operating speeds. However, the government allowed NBN Co to negotiate the service level agreement with ISPs directly, and left the ACCC to watch from the sidelines.
Similarly, there should have been truth in advertising rules imposed on Telstra, Optus and their competitors to prevent false service speed claims.
The absence of enforceable regulation was taken as a green light for ISPs to continue to promise unrealistic and unattainable internet speeds, as they had done for years before in relation to price and package data allowances. Connection speeds have become the new wild west in communications.
In the case of the NBN, the failure by the government and the regulator to require an adequate transparency measure, or even to monitor wholesale services standards has allowed the deterioration to the current state of affairs.
Not all is lost
In relation to false and misleading claims about internet service speeds, the ACCC has established a broadband monitoring program to generate data about broadband speeds and performance.
Under the scheme (which is based on similar ones operating elsewhere), the ACCC will install monitoring equipment in 4,000 homes across Australia that are connected to fixed-line NBN services – including fibre to the node, fibre to the basement, fibre to the premises, and hybrid fibre-coaxial.
<img src="https://images.theconversation.com/files/175122/original/file-20170622-3031-jt1gt9.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Source: Various/The Conversation, <a class="license" href="http://creativecommons.org/licenses/by-nd/4.0/" target="_blank">CC BY-ND</a>
FTTP = fibre to the premises; FTTN/FFTB = fibre to the node/basement; HFC = Hybrid Fibre-Coaxial
Real-time data will determine average fixed-line NBN speeds at various times, and is expected to be published at least in part by the end of 2017.
A trickier task will be to sort out the real culprit in cases of service failure or performance shortfall. At present we see a culture of passing the buck, where complainants to ISPs are shunted off to the NBN, while the NBN just as vigorously points the finger at ISPs.
NBN argues (with some justification) that the ISPs are scrimping on the amount of capacity or bandwidth they are buying to on-sell to consumers. According to NBN Co, they are being criticised for something that’s just not their fault. Sorting of this provisioning stoush will not be easy even with the panel data.
Following the ACCC inquiry into the NBN’s wholesale service standards, possible regulatory changes would include imposition of fines, and establishing a process through which consumers could seek compensation at a retail level when minimum whole service standards are not met.
Finally, in an attempt to control deceptive claims about the speed of networks, the ACCC has issued Broadband Speed Claims – Industry Guidance. This advises retailers how to advertise speeds for NBN broadband services, including clearly identifying typical minimum speeds during peak periods.
It is unclear whether the proposed measures are intended to solve the problems or just to be seen to be doing something and so reduce the clamour.
<img src="https://counter.theconversation.com/content/87095/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">Sadly, it’s something we could have avoided if policymakers and regulators were just a little less optimistic.
Allan Asher, Visitor, Regulatory Institutions Network (RegNet) &amp; Chair of Foundation for Effective Markets and Governance, Australian National University
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/the-accc-investigation-into-the-nbn-will-be-useful-but-its-too-little-too-late-87095" target="_blank">original article</a>.
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The ACCC investigation into the NBN will be useful. But it's too little, too late: Allan Asher

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GUEST OBSERVER
Two decades of reforms, reviews and inquiries appear to have better served the financial sector than the interests of super fund members.
At first glance Australia’s 214 major superannuation funds are performing well, giving a healthy 9.2% return on the A$1.4 trillion we have deposited with them. But there are issues with our publicly mandated but privately controlled superannuation system.
Admittedly, our current system provides a range of benefits - increasing retirement incomes, giving us plenty of choice between funds (in theory if not in practice), and investing in the Australian economy.
But the operating expenses for Australian funds consistently and significantly outstrip those in other OECD countries. Fees are high and there is little evidence that higher fees lead to better services.
In 2009 the Inquiry into Financial Products and Services in Australia recommended there be an annual check on the quality of advice. The only superannuation-related survey that has been undertaken to date found that 39% of advice was poor and only 3% was good quality. No further surveys have been conducted.
Australians are forced to contribute to superannuation funds, without the right of exit, but they aren’t protected from high fees or bad investment strategies. A nationalised superannuation system, or one that combines private and public super funds, could simplify the system and reduce costs.
<h2>Baked in problems</h2>
Australia’s system wasn’t originally intended to be entirely privately-run, which has left us without many necessary protections (such as appropriate disclosure of fees and charges).
Australia was almost alone among OECD countries in reaching the 1980s with no national employment-related retirement income scheme. There had been at least ten attempts to set one up between the 1890s to the 1970s. All failed to win support from employers, existing superannuation funds, life offices and state governments.
An additional attempt was made in the last Parliament of the Liberal government in 1972. The incoming Whitlam Labor government also tried to introduce a national superannuation scheme in 1973, establishing the Hancock inquiry.
Consistent with its recommendations, the Hawke/Keating Labor government intended to move forward with a national scheme. However, against the backdrop of past nationalisation failures, recession, high inflation, a wage freeze, strikes, declining union membership, and the increasing discontinuation of superannuation products, the government instead privatised it.
Thus, the Hawke/Keating Labor government was a major winner of a privatised scheme gaining electoral support from a coalition of private interests.
Absent from this coalition were the fund members. There is no evidence of any consultation process with either the fund members themselves and/or any consumer representative groups prior to the development of our present, privatised regime.
The Superannuation Guarantee scheme introduced a minimum employer contribution to superannuation for most employees. This scheme was a windfall for the financial sector, as they received a guaranteed, trillion-dollar stream of superannuation contributions to look after with no exit rights for members.
The union movement would also appear to be a winner from privatisation. The privatised system allowed the unions to expand the number of their existing industry funds to earn more administration and investment-based fees. The 41 industry funds currently hold A$545.2 billion, compared to the A$587.8 billion held by the 128 for-profit retail funds.
It could be argued that the losers in this mandatory regime are the fund members who were marginalised from the outset. As it was originally intended to be a government-run system, many of the administrative processes necessary for an efficient and effective privatised system were originally absent.
For example, there were no codified accounting, reporting and disclosure requirements. No mandatory requirements for the disclosure of fees and charges. No codified audit report requirements. And, for nearly a decade, the regulator did not have appropriate constitutional powers to enforce civil and criminal penalties against non-complying trustees.
Two-decades of reforms have remedied the constitutional, auditing and accounting issues. But significant issues remain, including limitations in the disclosure of fees and charges and the related issue of conflicted payments.
<h2>Alternative super systems</h2>
In theory, there are alternative superannuation models for Australia to consider. For example, there are nationalised schemes such as the government-run Canadian Pension Plan.
All of the funds from the Canadian Pension Plan are invested by Canada’s Pension Plan Investment Board, which operates with a clear mandate to maximise returns, without undue risk of loss.
Nationalising the superannuation industry in this way appears to have benefits - members would receive the same return for equal contributions, employers and employees would only have to deal with one fund, and the amount spent on running the fund (for example on administration, marketing) would be reduced.
There is also the option of adopting a combined system, as in Norway, which features both national and privately-run superannuation funds.
<img src="https://counter.theconversation.com/content/86067/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">In reality however, given the coalition of vested interests that have forged Australia’s existing, publicly mandated, privatised system, only the voice of the members themselves can force an honest and open debate on this important issue.
Suzanne Taylor, Lecturer/Co-Ordinator, Queensland University of Technology.
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/could-we-nationalise-the-superannuation-system-even-if-we-wanted-to-86067" target="_blank">original article</a>.
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Could we nationalise the superannuation system even if we wanted to?: Suzanne Taylor

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GUEST OBSERVER
The way cities are portrayed reveals and shapes public perceptions of the city. For young people, in particular, the media inform and disseminate the most elemental images of the city and the society that inhabits it.
The media can be an important didactic tool – often the only one available to much of the population. But, increasingly, broadcast and social media aim to entertain the public. So how do these media depictions shape how we think and feel about the city?
Most analyses of the role of media take a city-by-city approach, rather than one based on theoretical paradigms. By contrast, we analyse how three urban theory paradigms – postmodernism, sustainability and politics – translate into movies, TV series and TV ads.
Postmodernism
Feature films such as Blade Runner and its sequel, Blade Runner 2049, paint a city in which virtual reality and cyberpunks, known as replicants, have taken over humanity. The Blade Runner city is a darker and futuristic version of the LA depicted by Mike Davis.
Los Angeles, as the archetype of the postmodern city, became a lab for urban theorists in the mid-1980s. Postmodernism applied to urban theory refers to the increased privatisation and social polarisation of the city.
Blade Runner 2049 (2017), as well as the first one (1982), features dystopian city landscapes that remind us of postmodern urban theory. The movie conveys a message about society today. Virtual reality, a fragmented society and the sense of isolation felt by individuals in the contemporary city translate into the aesthetics of the movie. The movie creates a solipsistic universe – there are no social encounters of any value in the Blade Runner city.
Movies from the “neo-noir” genre offer a dystopian vision of the city. This genre includes animation movies such as Paprika (2006), which takes place in a fantasised city considered as Tokyo. David Lynch’s movies or sci-fi thrillers such as Strange Days (1995) all feature a “neo-noir” vision of Los Angeles’ urban landscapes.
Sustainability
Movies typically show a more negative side of cities and suburban life in contrast to TV, which tends to portray a more favourable view. Feature films (Erin Brockovich, Koyaanisqatsi, Avatar) and even comedies/animations (Idiocracy, WALL-E) depict a dystopian present/future of depleted resources, corporatism and “dog-eat-dog” ruthlessness.
Unfortunately, as most films dealing with sustainability get relegated to the documentary genre (An Inconvenient Truth, Cowspiricy), only a few films get to tell this message to the masses. Good sometimes, but not always, triumphs over evil.
Alternatively, over the past several decades, many TV series (Wonder Years, Home Improvement, Will &amp; Grace) have portrayed cities and suburbs as great places to live. They rarely engage or even mention pollution, traffic congestion, suburban sprawl or other negative aspects of suburban life.
In part this is due to the fact that most TV shows (although Netflix and Amazon productions are changing this imperative) need to attract viewers to be able to sell advertising. This means the shows rarely deal with any topic that might turn viewers away.
This positive theme carries over to TV commercials, particularly car ads, which further this favourable view of cities. Most car ads show cars in nature and on uncongested roads – they are doing this to combat the view that cars pollute and create traffic congestion. “Thelma and Louise” images of women in convertibles speeding down car-free, tree-lined roads with their hair blowing in the wind are iconic of the false representations of the city in car commercials.
Politics
Again, we see split representations.
On the one hand, the city is depicted as the epicentre of glamour, excitement, opportunity and prosperity. Serials such as Sex and the City epitomise this approach.
The “sitcom city” is another version: it’s a friendly, happy place, saccharine even, with minimal conflict. In shows like Friends and Seinfeld, even New York appears to be homely and “suspiciously affordable”, as Maria Bustillos puts it.
By contrast, animated sitcoms (The Simpsons, Family Guy, American Dad!, South Park) are satirical and subversive. While centring on daily life in bland small towns, they offer stark insight into issues that other sitcoms normally sweep under the rug: religious bigotry, alcoholism, drug use, violence, weak morality, and hypocrisy.
On the other hand, the broadcast media render the city as the locus of crime, unemployment, exclusion, or injustice. Shows like The Wire embrace the realism of struggle, injustice and decay in poor urban ghettos.
Since the 1990s, a sub-genre has emerged in Eastern Europe and China to represent the post-socialist city. In European films (Good Bye Lenin!), the images of the city are grim but hopeful.
<img src="https://counter.theconversation.com/content/85533/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">In contrast, Chinese films (Suzhou River, Sunshine and Showers) depict the city as a gritty or uncanny place, thus challenging the glitzy and wholesome representations produced by state propaganda and private developers.
Sebastien Darchen, Lecturer in Planning, The University of Queensland.
Dorina Pojani, Lecturer in Urban Planning, The University of Queensland.
Neil Sipe, Professor of Urban and Regional Planning, The University of Queensland.
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/movies-and-tv-choose-to-tell-us-different-stories-about-the-cities-of-today-85533" target="_blank">original article</a>.
Photo of Blade Runner 2049 courtesy of Alcon Entertainment. 
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Movies and TV choose to tell us different stories about the cities of today

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The Bendigo residential market has seen consistent growth over the past 12 months, according to the valuation firm, Herron Todd White.
Bendigo's growth comes with increasing government support for first home buyers in regional areas.
"This increase in funding has seen a lift in new home construction rates in the Bendigo area particularly in the new estates around Epsom, Marong and Huntly," HTW noted.
With property prices rising in the capital cities, regional centres such as Bendigo offer first home buyers an opportunity to live in a new home within 20 minutes of a CBD for less than half a million dollars.
For homes under $350,000 in value, rental rates are only marginally cheaper than paying a mortgage.
A two-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-bendigo-125275950" target="_blank">2/10 Larritt Street</a> (picture above) sold for $292,500 recently.
Another two-bedroom house at 7/83-87 Arnold Street (below) changed hands recently for $338,000.
 <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/2017/11/15/Bendigo2.jpg" alt="">
HTW noted with the Calder Highway and V-line trains connecting Bendigo to Melbourne within two hours of travel, "Bendigo is far from isolated." 
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Bendigo attracting first home buyers

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Home ownership in Mildura is still a realistic goal, with the median house price being around $260,000 and $180,000 for units.
Herron Todd White said in a recent report that families and older couples make up the largest percentage of people living in Mildura.
The majority of buyers in Mildura are owner-occupiers.
Statistics from Corelogic show the average time a home in Mildura is held is around eight years, which supports the theory that many buyers gradually trade their way up from entry level homes to better standard homes as their financial circumstances improve.
Over the past 10 years, first home buyers have shown a willingness to take on more debt in order to acquire more expensive first homes.
"No doubt the low interest rate environment has contributed to this confidence, however it appears that many first home buyers have much higher expectations than previous generations," wrote HTW.
"Most first home buyers in Mildura are looking for modern detached dwellings in better locations and will typically spend from $280,000 to $350,000."
The presence of attractive first home owner grants has made building a home an attractive option for many young people.
"Currently there is $20,000 available to first home buyers who build a home in Victoria and $10,000 in NSW, which when combined with the stamp duty exemptions currently available make this attractive for many people.
"We note however, that the cost of land and building has increased in recent years by at least this amount, making this option less attractive than it once would have been."
As an example, a three-bedroom house at 40 Golden Ash Drive (picture above) sold recently for $320,000 through Ray White’s Luke Hermans.
Another recent sale was a four-bedroom house at 281 Eighth Street for $256,000, (below) close to the median house price.
<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/2017/11/15/Mildura2.jpg" alt="">
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The HTW report noted that townhouses and units are mostly being purchased by either investors or retirees, attracted by the lower maintenance requirements.
"There has been a trend in the past five to ten years for many empty nesters to move from their large family homes to new townhouses on compact lots."
 The development of around 70 residential lots within part of the Mildura golf course has met with strong demand from this buyer segment who are typically spending between $450,000 and $650,000 to acquire good standard housing on lots of around 500 square metres, HTW advised. 
Buyers in Mildura still have a preference for detached dwellings and the relative affordability of land makes this possible. 
"Our constant theme is that owner-occupiers (and tenants) always show a preference for homes which have functional outdoor living areas designed to be shaded in the summer months. 
"Mildura has long, hot summers, and the ability to spent time outdoors is an important consideration for home buyers," it added. 
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Mildura's first home buyers have higher expectations than in the past: HTW

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Stephen Manoel, general manager of home and garden care company Heiniger, and his wife, Jan, have sold Emmalin House, their Medindie home.
Andrew Fox of Fox Real Estate was marketing the home with a $1.95 million asking price.
Not far from Nantu Wama Park and north of the Adelaide CBD, the character bluestone home was built in 2004.
The couple paid $1.1 million in 2005.
The large, well-windowed office offers pleasing front garden views as well as views towards the private road garden park.
<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/2017/11/8/Mendinie2.jpg" alt="">
It has four bedrooms, a large office, upper level rumpus room and sits in manicured gardens.
 
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2004-built bluestone Medindie trophy home sold

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A unique custom-built Humpty Doo, Northern Territory house remains listed for sale with amended $785,000 plus hopes having initially sought buyer interest at $888,000.
Located at <a href="https://www.realestate.com.au/property-house-nt-humpty+doo-125699930" target="_blank">900 Pioneer Drive</a>, the property is built like a house from the Hobbit.
It was last sold in 1999 for $126,000.
The brick smoke house has an expansive internal living quarters with multiple bedroom options with built in water feature in the living areas.
Kitchen is spacious and has modern appliances.
Bedrooms each have their own unique spin including circular portal window or custom shapes.
<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/2017/07/18/900%20Pioneer%20Drive-2.jpg" alt="">
One bedroom is surrounded by landscaped gardens and bushlands and has twin built in robes and central vanity.
A central study room or home office is available which can also be converted into an additional living room.
There is a bush pool and outdoor verandah available.
Other features includes multiple carports on the property, swimming pool as well as a shed/workshop with twin carport parking space.
The property is offered through Top End Real Estate agent May Dunlop.
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Price drops at Hobbit-inspired Humpty Doo house

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Car sharing platform Car Next Door, is raising $1.5 million through a crowd-sourced equity funding platform Equitise, a move its CEO says will drive more engagement of its members with the startup. 
Founded in 2013, Car Next Door has 50,000 users and 1,300 cars listed on the platform. Members can rent a car from as little as $5 an hour to $25 a day. 
The start-up operates in Sydney, Melbourne and Brisbane with plans to expand to the Gold Coast, Canberra, Perth and Adelaide in the next few months.
Its users and revenue have doubled each year since it launched. Turnover is expected to hit $1 million in January.
The move has been a long-term plan of co-founder and chief executive Will Davies.
"Since we started our users have been really keen and passionate about what we're doing and keen to invest and get involved," he was cited as saying The Australian Financial Review.
"It's a good way to get them more engaged and it will help with retention and word-of-mouth."
Car Next Door, which lets users find a car in their neighbourhood to hire from a minimum of $25 per day, 
Car Next Door expects to raise a minimum of $500,000 from sophisticated investors using Equitise, as part of a $4-5 million Series B round, the AFR said.
It has already raised $2.3 million in its latest round from existing investors such as Caltex and Trevor Folsom's Investible.
If the crowdfunding move pays off, Davies expects to go in for another capital raising which would be open to the public once the legislation permitting private companies to partake in crowd-sourced equity funding passes the Senate.
On September 29, the federal government's legislation to enable crowd-sourced equity funding from retail investors for unlisted public companies came into effect, but an amendment to the laws that will open it up to private companies is still going through the Senate.
"The big thing for us will be retail investors. We want people to be able to invest a few thousand dollars," he said.
 
 
 
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Car Next Door to raise $1.5 million through crowd funding

<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.

Joel Robinson

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.

The inflation result the property market was waiting for

Commercial property group FiveX is doubling down on its move into the residential space.

The group, founded by Joshua and Marko Berger more than five decades ago, has followed up its plans for a 39-storey tower on North Sydney's Alfred Street with a proposed 61-storey tower in Chatswood.

The new tower at <a href="https://www.apartments.com.au/new-apartments/815-pacific-highway-chatswood-nsw-2067">815 Pacific Highway</a>, which would be one of the tallest proposed in Chatswood in recent years, will comprise 490 apartments, 76 of which will be dedicated affordable housing and managed by Evolve Housing for a minimum of 15 years.

The project will replace the long-standing Panorama Building, originally known as the BMA Tower, a 14-storey office building completed in 1972 and designed by Hungarian-born architect Hugo Stossel. At the time of its completion, the building was the tallest structure in Chatswood and became a local landmark due to its distinctive curved form and external glass lift.

<img alt="FiveX" data-entity-type="file" data-entity-uuid="956bd299-3864-47a0-8ea6-162b5524c5d8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-24%20at%201.02.03%E2%80%AFPM.png?VersionId=EWx7teUr7RcYrI9mgRytwppwt5AdUDtb" />

fjcstudio is behind the designs. Its Architectural Design Report argues the ageing commercial building no longer reflects Chatswood's role as one of Sydney's key strategic centres and that the site is ideally positioned to support significantly higher residential density.

"The site is located at the heart of Chatswood, within the TOD accelerated rezoning area that supports higher density development around the new Metro station," the report states.

"The site's role within a walkable 400-metre radius catchment is where housing, employment, retail and community uses are encouraged to cluster in support of transit-oriented living."

<img alt="fjc" data-entity-type="file" data-entity-uuid="8d198f5e-cc71-4175-9357-be6ec7207473" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-24%20at%201.18.27%E2%80%AFPM.png?VersionId=5WUFc3IYBPvhQMBUYLCsjJhzdcVeYodE" />

The proposal has undergone two rounds of review by the NSW State Design Review Panel, with the design evolving through an extensive assessment process focused on design excellence, public realm outcomes, residential amenity and the integration of affordable housing.

fjcstudio says the residential component provides a diverse mix of apartment typologies, supporting a broad demographic and contributing to housing supply in a highly accessible location close to major transport, employment and retail infrastructure.

The application follows FiveX's plans for a 39-storey tower at <a href="https://www.apartments.com.au/new-apartments/275-alfred-street-north-north-sydney-nsw-2060">275 Alfred Street</a>, which it <a href="https://www.apartments.com.au/new-apartments/275-alfred-street-north-north-sydney-nsw-2060">submitted through the same NSW Government pathway</a> in December. That's for 184 apartments.

Recent activity in Chatswood includes Hyecorp launching its Archer Street project, Celine, and Develotek securing approval for a 34-storey tower.

First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans

Bridgewell Capital and SLD Development seem to be bullish on the Killara apartment market, filing plans for a second new development next to the Killara Golf Club.

The new plans are for 79 apartments across an amalgamated 4,989 sqm site on Buckingham Road.&nbsp;The project has been designed by BKA Architecture and is being assessed under the NSW Government's Low and Mid-Rise Housing and Infill Affordable Housing reforms. It is just 300 metres from&nbsp;Killara train station.

The majority of the apartments are three-bedrooms (46), with 23 two-bedroom apartments, seven one-beds, and three four-bedroom apartments. 17 of the apartments&nbsp;are proposed as affordable housing, representing 15 per cent of the project's gross floor area, allowing the development to access additional floor space and height incentives available under the NSW Housing SEPP.

There will be 131 resident and visitor car spaces, and more than&nbsp;1,450 sqm of communal open space. Landscaped areas would account for approximately 45 per cent of the site.

<img alt="Killara" data-entity-type="file" data-entity-uuid="75ef5ef7-a53b-4932-a8f1-38f63169eec9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-24%20at%2011.04.00%E2%80%AFAM.png?VersionId=d_lG1A1StDaMQilljy25Fr8SF1BnAmKE" />

The site currently contains three detached dwellings and occupies a prominent position on the eastern side of Buckingham Road, with frontage to an area that has already begun transitioning towards higher-density housing. Existing apartment buildings of up to six storeys surround the site, while the Killara Golf Club forms its southern boundary.

The application has been lodged as a State Significant Development due to the affordable housing component and the scale of the project.

According to the design report, the proposal has been shaped by the area's evolving planning framework, which is encouraging greater housing density around transport infrastructure.

"The site sits along a growth area anticipated to undergo transformation in line with broader trends across New South Wales, driven by the implementation of the Low and Mid-Rise and Transport-Oriented Development State Housing Policies," the report states.

"Being within 800 metres walking distance to Killara Train Station, the project seeks to provide high-quality apartments designed for various family sizes, located in a vibrant landscaped setting."

The Upper North Shore suburb has become one of the most closely watched testing grounds for the NSW Government's housing reforms. A number of developers have moved quickly to consolidate sites around railway stations across suburbs including Killara, Lindfield, Gordon and Roseville, where the new planning settings are creating opportunities for apartment developments that would previously have been difficult to achieve.

The likes of Aqualand, Hyecorp, Holdmark and Vermont Property Group have projects in the region.

Bridgewell has several developments in the pipeline. Last September they submitted plans for <a href="https://www.apartments.com.au/news/nsw/bridgewell-capital-seeks-55-apartment-project-in-killara">55 new apartments</a> at&nbsp;23-25 Lorne Avenue in Killara, just the other side of Regimental Park from their new project. In May they filed for <a href="https://www.apartments.com.au/news/nsw/first-look-bridgewell-plots-120-apartments-and-childcare-centre-in-maroubra-town-centre">120 apartments in Maroubra</a>.

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First look: Bridgewell, SLD Development double down on Killara Golf Club

Sydney developer&nbsp;<a href="https://www.apartments.com.au/developers/central-element">Central Element</a>&nbsp;is doubling down in Drummoyne, lodging plans for a boutique apartment development on St Georges Crescent, only one-kilometre down the road from its first Drummoyne development, Bianca.

The new project at 15A-21 St Georges Crescent,&nbsp;a&nbsp;1,701sqm north-facing site overlooking Iron Cove, will have 45 apartmnts across 10 levels. Eight of the units will be dedicated to affordable housing.

The site sits within walking distance of Drummoyne Village, Birkenhead Point, ferry services and the Bay Run, and offers harbour views towards the Sydney Harbour Bridge and CBD skyline.

Designed by MHN Design Union, the development will deliver a mix of one, two and three-bedroom apartments, alongside resident amenity including a gym, landscaped communal open space and three levels of basement parking.

The project has been lodged under the NSW Government's Low and Mid-Rise Housing reforms, with Drummoyne Village identified as a town centre capable of accommodating additional housing supply.

Central Element acquired the site earlier this year as part of its continued expansion across Sydney's eastern suburbs, lower north shore and inner west.

The developer's current pipeline includes luxury apartment projects Pearl Bondi and a separate development on Lamrock Avenue in Bondi, a residential project in Barry Street, Neutral Bay, and a mixed-use seniors living community in Greenwich.

Central Element Managing Director Nathan Chivas said the project would address a shortage of new owner-occupier housing opportunities in Drummoyne.

"While we're seeing a significant shift across Canada Bay as major infrastructure investment, population growth and planning reform drive a new chapter for the region, in suburbs like Drummoyne there remains a genuine shortage of new boutique luxury housing opportunities for owner occupiers," Chivas said.

"Sites of this nature are increasingly difficult to secure, particularly those that combine a north-facing aspect with direct water outlook. Our St Georges Crescent project responds directly to the market demand, offering a level of exclusivity, outlook and lifestyle in the highly sought after suburb."

The development application has been lodged with the City of Canada Bay Council, with the project expected to launch to market in early 2027.

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Staff reporter

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