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<div class="cq-article-content-paras section">
<p>Steve and Liz Phillips, from the Yarrawonga Merino sheep stud in southern NSW, have snapped up the 1678-hectare mixed farming rural holding Woodlea Park in Yass in the southern tablelands of NSW.</p>
<p>They paid $11.75 million for <a href="https://www.realestate.com.au/property-mixed+farming-nsw-yass-7924002" target="_blank">the high-quality beef and prime lamb property</a>, set 300 kilometres from Sydney.</p>
<p>It sold at $950,000 over the reserve price when auctioned with 10 registered bidders through Meares Online Auction.</p>
</div>
<div class="cq-article-content-media section">"Given the absolute shortage of quality rural properties today the result showed the underlying strength and confidence in the sector. There is no doubt with ongoing strength in commodity prices they will continue to underpin land values," Meares &amp; Associates' Chris Meares said.</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section"><span>Comprising 1,678.2 hectares (4,146.8 acres) the property has been held by the current owners for close to 60 years.</span></div>
<div class="cq-article-content-media section"><span> </span></div>
<div class="cq-article-content-media section"><span><span>Investor Margaret Doyle, who divides her time between Canberra and the US state of Montana, was the reluctant seller.</span></span></div>
<div class="cq-article-content-media section"><span><span> </span></span></div>
<div class="cq-article-content-media section"><span><span>It had been purchased by her ­father in 1959.</span></span></div>
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j.ballantyne1990-6AQqhLzZaK

Woodlea Park, Yass sold online

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<p>Skaugum, the Wahroonga property owned by the Halvorsen family, has been listed for the first time in seven decades with a price guide of $4.5 million.</p>
<div class="wp-caption">
<p>The home is named after the royal estate and birthplace of Norwegian Crown Prince Harald.</p>
</div>
<p>The stately Georgian-style home sits on 1665 sqm.</p>
<p>Skaugum features three bedrooms and three bathrooms, lounge with music room, a provincial styled kitchen, and formal dining room. </p>
<p><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/2017/11/10/WahroongaTrophy2.jpg" alt=""></p>
<p>Most of the woodwork, including the timber floors and the grand staircase banister, was made in the Halvorsen boatsheds in 1950. </p>
<div class="wp-caption">The family hails from a dynasty of wooden boat makers dating back to 1887, when Halvor Anderson launched his first wooden craft in the south of Norway before settling in Neutral Bay in 1925.</div>
<div class="wp-caption"> </div>
<div class="wp-caption">With the couple now spending much of their time in America, the Halvorsen's are selling at December 5 auction</div>
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Skaugum, Wahroonga listed by Halvorsen boatbuilding family

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<p>A Melbourne man, Andrew Cameron, appeared before the Melbourne Magistrates' Court today charged with one count of the common law offence of conspiracy to defraud, following an ASIC investigation. </p>
<p>ASIC alleges that Mr Cameron conspired with others to defraud his employer, the Commonwealth Bank of Australia (CBA), by providing false documents and information in support of home loan applications.</p>
<p>The charges are linked to the hundred-million dollar loan fraud conspiracy uncovered by ASIC's investigation into Myra Home Loans.</p>
<p>ASIC alleges that the conspiracy involved approximately 121 loan applications and resulted in the CBA lending approximately $36,420,040.</p>
<p>The maximum penalty for the offence is 15 years' imprisonment.</p>
<p>Mr Cameron was not required to enter a plea and was bailed to appear before the Magistrates' Court at Melbourne on 2 February 2018.</p>
<p>The matter is being prosecuted by the Commonwealth Director of Public Prosecutions.</p>
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Myra Home Loans alleged fraud charge against Andrew Cameron

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<p>Dwelling investment appears to have peaked earlier than previously anticipated, according to the RBA's latest statement on monetary policy.</p>
<p>"Although the significant pipeline of work still to be done should mean that the level of residential construction activity remains high over the next year or so, dwelling investment is not likely to contribute to GDP growth over the forecast period," it advised. </p>
<div title="Page 6">
<div>
<div>
<p>Bank liaison with developers indicates that demand for off-the-plan apartments in the major east-coast cities has moderated, reflecting weaker demand from foreign buyers and domestic investors.</p>
<p><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/2017/11/10/growth.jpg" alt="" style="font-size: 12.16px;"></p>
<p>Developers’ access to bank finance – which is secured before obtaining a building approval – has tightened over the past year or so, particularly in areas where there have been very large increases in the supply of apartments, such as inner-city Brisbane, the statement noted.  </p>
</div>
</div>
</div>
<p>The statement acknowledged one of the key sources of uncertainty for the forecasts is the outlook for the labour market.  </p>
<p>It also suggested weaker-than-expected growth in housing prices or changes in expectations about the likely path of interest rates could also lead to weaker consumption growth than is currently forecast.</p>
<p>The statement sets out the Bank's assessment of current economic conditions, both domestic and international, along with the outlook for Australian inflation and output growth.</p>
<p>It noted conditions in established housing markets have eased in recent months.</p>
<p><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/2017/11/10/Price%20Growth.jpg" alt=""></p>
<p>"The Sydney market has slowed noticeably; auction clearance rates have fallen and housing price growth has been relatively subdued over the past few months, although this follows very strong increases in housing prices over the second half of 2016 and early 2017."</p>
<div title="Page 4">
<p>Conditions remain strongest in Melbourne; vendor discounts and days on market continue to point to very strong conditions, although housing price inflation and the auction clearance rate have declined a little.</p>
<p>"The more pronounced slowing in the Sydney housing market relative to Melbourne may reflect the higher share of investors in the Sydney market; the flow of loan approvals to these buyers has slowed since the beginning of the year."</p>
<div title="Page 5">
<p>Housing prices in Sydney are also higher, so affordability could be more of a constraint than in Melbourne.</p>
<p>Higher migration flows to Victoria, both from overseas and interstate, are also supporting the demand for housing, it noted.</p>
<div title="Page 5">
<p>Housing prices have declined a little further in Perth, where the rental vacancy rate has increased to its highest level since 1990, driven by the slowing in population growth.</p>
<p><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/2017/11/10/Vacancy.jpg" alt=""></p>
<p>In Brisbane, apartment prices have been little changed in recent months following earlier declines, while detached house prices have increased. </p>
</div>
<p>The bank noted overall household indebtedness is high and debt levels relative to income have continued to edge higher because household credit growth has continued to outpace income growth.</p>
</div>
</div>
<div title="Page 7">
<div>
<div>
<p>"Steps taken by regulators have seen the growth in riskier types of lending to households moderate, but some risks remain.</p>
<p>"For example, a highly indebted household sector is likely to be more sensitive to changes in income or wealth, which could have implications for consumption growth.</p>
<p>"Also, consumption growth could be weaker for a time if indebted households choose to pay down debt more quickly rather than spend additional income."</p>
</div>
</div>
</div>
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Dwelling investment has peaked earlier than previously anticipated: RBA 

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<p>The latest RBA Chart Pack that summarises macroeconomic and financial market trends in Australia has been released.</p>
<p><span>It illustrates the data presented to the board ahead of their Cup Day rate </span>decision.</p>
<p>The charts includes the <a href="https://www.rba.gov.au/chart-pack/interest-rates" target="_blank">owner occupier variable home loan rates</a> over the past decade.</p>
<p><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/2017/11/10/Lending.jpg" alt=""></p>
<p>There were charts showing <a href="https://www.rba.gov.au/chart-pack/household-sector" target="_blank">household finances</a>.</p>
<p><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/2017/11/10/Household.jpg" alt=""></p>
<p>There's even insights into <a href="https://www.rba.gov.au/chart-pack/world-economy" target="_blank">the Chinese residential property market</a>.</p>
<p><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/2017/11/10/China2.jpg" alt=""></p>
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Three charts that helped the RBA make its Cup Day decision

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<p>Gayla Currie, who worked for Century 21 Max Comben real estate agency in Perth, has been caught presenting more than 20 fake contracts for fake property sales.</p>
<p>The real estate agent has been banned from working in the industry for life after being found guilty of fabricating purchase offers on numerous properties.</p>
<p>The forged contracts pretended to be prospective buyers.</p>
<p>The punishment was imposed by the State Administrative Tribunal on Currie, who worked as a sales representative in 2015 and 2016.</p>
<p><span>Ms Currie began working for the agency as a sales representative in February 2015 and was supervised by Mr Comben. Ms Currie held a sales representative certificate from October 2012 to October 2015 but failed to renew her certificate of registration until February 2016. She continued her sales activities with the agency between October 2015 and February 2016, despite not holding a certificate of registration.</span></p>
<p>Currie’s employer and sales supervisor Maxwell Comben were also fined by the SAT for breaching the Real Estate and Business Agents Act.</p>
<p>The SAT found as supervisor, Comben had failed to notice that signatures on the offers were in Currie’s handwriting, finance letters from banks were forged, phone numbers were made up and none of the sales ever settled.</p>
<p>Consumer Protection commissioner David Hillyard said there had been a serious lack of proper supervision on Comben’s part.</p>
<p>"Property owners who put their trust in the agency have endured great inconvenience and financial disadvantage,” he said.</p>
<p>Max has been selling in the Real Estate industry for over 41 years and all of these 41 years have been in the local area. <br><br>Max Comden commenced selling in 1975. <br><br>Max has been inducted into the prestigious Century 21 Hall Of Fame which is the highest individual award offered by Century 21. He is a "Centurion" level salesperson putting him in the top 2% if sales people in the largest real estate system world wide.</p>
<p><span>Currie’s employer </span><span>Sakar Pty Ltd</span><span>, trading as </span><span>Century 21 Max Comben</span><span>, was fined $2,000 and sales supervisor </span><span>Maxwell Comben</span><span> was fined $3,000 by the SAT for breaching the Real Estate and Business Agents Act by failing to exercise due care, skill and diligence and continuing to employ a sales representative in the time period that the sales representative’s certificate of registration had expired and was therefore no longer valid. The agency and Mr Comben were reprimanded and ordered to also pay costs of $1,200.</span></p>
<p data-reactid="99"><span data-reactid="100">The SAT findings:</span></p>
<ul data-reactid="103">
<li data-reactid="104">Sixteen fake contracts of offer and acceptance to the owner of a Westminster property between May 2015 and February 2016;</li>
<li data-reactid="106">Two fake contracts of offer and acceptance to the owner of a Balcatta property in October 2015 and January 2016;</li>
<li data-reactid="108">Three fake contracts of offer and acceptance to the owner of a Morley property between December 2015 and March 2016; and</li>
<li data-reactid="110">One fake contract of offer and acceptance to the owners of a Stirling property in February 2016.</li>
</ul>
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Century 21 agent banned after fake sale contracts on Perth homes

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<p>When the developer Dyldam launched its South Quarter project at Parramatta – on the former Auto Alley – last  month they noted there was especially strong interest from first time buyers amid high local interest.</p>
<p>The average off the plan sale price was $750,000 in what will become a $876 million residential mixed-use project on the former Holden car yard.</p>
<p>It is a sign that after a lengthy absence, first time buyers are emerging across NSW, perhaps lured by the expansion in the available government grants. </p>
<p>The latest ABS data calculated 2,426 first home buyer commitments in August which represented the biggest monthly number for five years.</p>
<p>Though still below the longterm average, NSW first home buyers accounted for 12.9% of owner occupier commitments over the month, the highest proportion since 2012.</p>
<p>It was up from a recent NSW low of 7.5% in February 2017 when it looked easy to conclude that our higher housing prices had significantly reduced the probability of many ever becoming an FHB.</p>
<p>There's been research recently done by the Reserve Bank of Australia which confirmed that ‘generation rent’ is a reflection of higher housing prices rather than any shift in preferences.</p>
<p>It seems young households still have a desire to become home owners, however, fewer potential FHBs are actually able to enter the housing market.</p>
<p>It particularly noted the underlying desire to become an FHB has not changed since the global financial crisis.</p>
<p>"However, people’s ability to, or comfort with doing so, has been affected," it noted.</p>
<p>The research suggests the decline in home ownership was not as much influenced as previously thought from social and demographic and factors, including key life-cycle events such as exiting the family home, marriage and having children. </p>
<p>The research paper, comparing FHB loan characteristics in this pre- and post-financial crisis periods, shows the major consequence of the current higher prices is that FHBs have to save a much larger deposit.</p>
<p>That is despite maintaining a similar median loan-to-valuation ratio of around 83%.</p>
<p>The median deposit size increased by around $28,000 to almost $70,000 in the 2008–14 period.</p>
<p>The median purchase price of FHB homes across Australia in the 2008–14 period was $387,000, which was almost $100,000 higher than the price paid by FHBs in the 2001–07 period</p>
<p>The transition from being a renter to a first home buyer is the riskiest of steps in one's fiscal life. And I'd suggest those doing so currently are doing it with heightened risk.</p>
<p>But interestingly despite higher debt levels, households who became FHBs post-2007 appear to be paying down their mortgages and reducing their debt-to-income ratios at the same rate, or slightly faster, than households who took on a mortgage before 2007.</p>
<p>The research noted in the year after taking out a loan, the reduction in the debt-to-income ratio for FHBs in the post-2007 period was around 8%, compared to 5% for the pre-2007 borrowers. No doubt low interest rates being a key factor.</p>
<p>It also noted recent FHBs have been less likely to have ever been behind schedule on their loan.</p>
<p><em>This article first appeared in </em>The Daily Telegraph. </p>
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FHBs at heightened risk, despite great repayment track record 

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<p>The September ABS housing finance approvals data came in well below expectations with the number of approvals to owner occupiers falling 2.3% vs consensus forecast of a 2% gain.</p>
<p>According to the latest housing finance data from the Australian Bureau of Statistics, 55,812 home loans were approved throughout September – down from 57,137 the month prior. </p>
<p>The value of investor loan approvals also fell sharply, down 6.3%, Westpac noted.</p>
<p>In both cases, approvals were coming off surprisingly strong gains in August, owner occupier approvals up 1.5% and the value of investor loans up 4.8%, it added.</p>
<p>The ANZ noted h<span>ousing finance commitments in September recorded the largest decline in two years, and falling auction results suggest the market has further to cool through the remainder of 2017 and into 2018. </span></p>
<p><span>"We believe the regulator/RBA and state governments will be encouraged by the slowdown in investor borrowing and improved access to the housing market for first home buyers, respectively," the ANZ noted.</span></p>
<p>Matthew Hassan at Westpac noted more generally, both owner occupier and investor finance approvals have been holding up much better than wider market measures in 2017 – the slowdown in Australia’s housing market has been more muted in the finance data.</p>
<p>"This largely reflects the nature of the macro-prudential measures introduced in late March which had a heavier impact on investor segments and would have generated significant ‘switching’ between ‘interest only’ and ‘principal and interest loan products’.</p>
<p>"Investor loan figures include refinance and hence would have been boosted by existing borrowers switching between loans (although technically this should only cover those switching between lenders)."</p>
<p>The ABS detail showed a broad based pull back with weakness in construction related approvals as well.</p>
<p>By state, Victoria was the only major state to record a rise in owner occupier approvals.</p>
<p>First home buyer approvals also declined suggesting the boost from recent increases in state government assistance may already be waning.</p>
<p>"Overall, the update brings the finance approval data more into line with the clear slowing signal already evident from turnover, auction markets and prices," Hassan comented.</p>
<p>"The weakness in owner occupier loan approvals bears closer analysis.</p>
<p>"For investors, a further pull back is likely in the months ahead depending on the extent to which loan activity has been supported by refinancing."</p>
<p><span>The 2.3% drop in home loan demand "was largely expected,” Mortgage Choice chief executive officer John Flavell said. <br><br>“The fact is, interest rates have now been sitting at historically low levels for over 12 months. </span></p>
<p><span>"When interest rates first started to fall, we saw a spike in the number of borrowers looking to get into the market and take advantage of the low rate environment. <br><br>“But, given that rates have been so low for so long, it is only natural that we would eventually see a slight reduction in the level of home loan demand.<br><br>“That said, it is important to note that home loan demand is still high by </span><span>long term</span><span> standards. While we have seen some of the heat come out of the market, the market certainly hasn’t collapsed. <br><br>“Quite the opposite. Over the last three months, more than 55,000 home loans were approved on a monthly basis. The last time home loan demand was this strong for this long was over a year ago.”</span></p>
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Latest housing finance approvals at well below expectations

<html><body>
<div>A unit block in Crows Nest has sold under the hammer for $4.3 million which was $500,000 above the reserve price.</div>
<div> </div>
<div>The CBRE marketing campaign fielded 455 enquiries, 104 inspections and 72 contract requests. </div>
<div> </div>
<div>There were 13 registered parties when <a href="https://www.realestate.com.au/sold/property-unitblock-nsw-crows+nest-126537910" target="_blank">50 Falcon Street</a> sold to a local buyer on a yield of 2.6 percent. </div>
<div> </div>
<div>The building comprises four, two-bedroom apartments, each with an accompanying study, laundry, and provides four onsite car spaces with rear lane access.</div>
<div> </div>
<div>The total land size is 518sqm. </div>
<div> </div>
<div>The property will also benefit from the future Crows Nest metro station, which will be situated within 600 metres of the site. </div>
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Unit block in Sydney's Crows Nest sells for $4.3 million 

<html><body>
<div>A locally-based Chinese syndicate has purchased Melbourne’s landmark Burgundy Plaza in Heidelberg for $14,390,000.</div>
<div> </div>
<div>CBRE negotiated the sale with Miles Real Estates with the sale price representing a passing yield of 1.75 percent.</div>
<div> </div>
<div>The building rate was $14,155 per sqm and a land rate at close to $6,000 per sqm.</div>
<div> </div>
<div>Burgundy Plaza at <a href="https://www.cbremelbourne.com.au/wp-content/uploads/2017/09/Burgundy_Plaza_4pp_08.pdf" target="_blank">101-111 Burgundy Street</a> comprises a collection of retail shops and first floor offices situated on a Commercial Zoned 1 landholding suitable for long-term, mixed use development.</div>
<div> </div>
<div>The retail complex has 31 rear car spaces.</div>
<div> </div>
<div>It was sold by a local investor who had owned the it for 30 years.</div>
<div> </div>
<div>There were over 25 offers totalling more than $220 million for a strata retail asset with limited immediate development.</div>
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Melbourne retail landmark Burgundy Plaza sold to China group for $14.3 million

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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."</p>

<p>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."</p>

<p>The site occupies a strategic corner bounded by Flinders Street, Station Street, Stafford Street and the Princes Highway, directly opposite North Wollongong Station.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.</p>

<p>"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."</p>

<p><strong><em>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></em></strong></p>


Joel Robinson

First look: Urban Property Group plans next major Wollongong tower

<p><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.</p>

<p>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.</p>

<p>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.</p>

<p>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."</p>

<p><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" /></p>

<p>Woods Bagot describes the tower as a key marker within Campsie's next phase of growth.</p>

<p>"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."</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p><strong><em>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></em></strong></p>

<p>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.</p>

<p>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.</p>


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

<p>For the first time in a long time, Australia's inflation story is starting to look more like a landing than a fight.</p>

<p>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.</p>

<p>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.</p>

<p>The biggest takeaway is that inflation continues to move in the right direction.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>That trend is important because it aligns with what many economists and lenders have been saying for the last month.</p>

<p>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.</p>

<p>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".</p>

<p>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.</p>

<p>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.</p>

<p>Electricity prices remain particularly problematic, rising 21.1 per cent over the past year following the removal of government rebates.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>


The inflation result the property market was waiting for

<p>Commercial property group FiveX is doubling down on its move into the residential space.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>"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.</p>

<p>"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."</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>Recent activity in Chatswood includes Hyecorp launching its Archer Street project, Celine, and Develotek securing approval for a 34-storey tower.</p>


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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>The application has been lodged as a State Significant Development due to the affordable housing component and the scale of the project.</p>

<p>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.</p>

<p>"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.</p>

<p>"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."</p>

<p>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.</p>

<p>The likes of Aqualand, Hyecorp, Holdmark and Vermont Property Group have projects in the region.</p>

<p>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>.</p>

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