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Like other parts of Sydney, investor demand has declined in recent months in Southern Sydney, while home owners are generally remaining active in the market, according to the valuation firm Herron Todd White.
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First home buyers generally budget up to $1,000,000, which generally restricts property options to units, villas and townhouses. 
There are a number of new unit developments in the Sutherland Shire which are attractive for rst home buyers including those at Woolooware Bay and the South Village development currently under construction at Kirrawee. 
For the latter, 1-bedroom units are selling off the plan for between $600,000 and $700,000, and 2-bedroom units for between $680,000 and $900,000, HTW noted.
First home buyers, downsizers and young professionals were prominent in the successful sales weekend of Crest at Woolooware Bay.
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Upsizers and families require a budget of $1 million up to $3 million in more popular beachside and riverside suburbs. 
Duplex properties are becoming increasingly attractive, allowing a more affordable option of a good sized modern home on a smaller low maintenance block of land. 
The valuation firm noted a sale at 32B Carabella Road, Caringbah, which sold for $1.562 million in August, comprised a new two storey semi- detached duplex with 4-bedrooms, 2-bathrooms and 1-car garage on a 280 square metre lot. 
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j.ballantyne1990-6AQqhLzZaK

Southern Sydney FHBs spending up to $1 million

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Home ownership is still the dream for most people living on the Sunshine Coast and owner-occupiers are again making up the majority of sales, particularly since APRA announced changes to investor lending, the valuation firm, Herron Todd White has advised. 
They are seeing first home buyers still very active throughout the more affordable hinterland townships as well as in the new small lot residential estates at Caloundra and Palmview. 
"Land in these estates is selling before titles are issued and is very popular amongst first home buyers," the firm's latest report noted.
"The Sunshine Coast is seeing some change with several new high density unit developments recently completed around the new hospital precinct and a large supply of small lot developments providing affordable housing.
"Lot sizes above 500 square metres are becoming scarce along the coastal strip and the number of attached housing developments is increasing. 
"Both of these residential options provide an opportunity for first home buyers to get into the market at around $400,000." 
Investors are also active for these types of properties at this price point, the valuation firm noted. 
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Upgraders are also active given the ability to exit out of their current home.
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Sunshine Coast still seeing active first time buyers

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First home buyers, downsizers and families looking to upgrade have all been active in the property market as well as those who are new to Canberra, according to the valuation firm Herron Todd White.
First home buyers have affordable detached housing options in the outer suburbs of Belconnen and Tuggeranong, while Gungahlin provides newer detached housing at more of a premium.
"Alternatively, there are affordable unit options available throughout the Canberra region with new developments being completed in the city and town centres," HTW added.
There is also a large supply of older units close to the city and in the suburbs that would be suitably priced for first home buyers, the report advised.
The strong detached housing market has forced most first home buyers to look to apartments to climb onto the property ladder.
New Canberra residents have been active mainly in the Gungahlin market where they can buy new homes in a newly established suburb.
"Demand has been very strong from these buyers with land selling at a similar rate per square meter to land in established inner suburbs.
"This demographic has also been active in the new apartment market especially dwellings in close proximity to universities and town centres," HTW said.
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Canberra first home buyers have been active: HTW

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Although we have seen considerable activity from investors over recent years, owner-occupiers still make a sizeable sector of the Coffs Harbour market, according to valuers, Herron Todd White.
"When you consider that there are first home buyers, trade up or down buyers and retirees all looking to secure properties, there is no one size fits all in relation to property, the firms latest report suggested.
 It is difficult to pigeon hole what each buyer profile looks like or the attributes sought after in a property. 
"The forst home buyer conjures up images of the young twenty something purchaser when in fact we are seeing the thirty or forty something age bracket also trying to get off the rental treadmill.
"The younger generation seems to be attracted to the shiny new product whist the older group looks towards an older home," HTW noted.
As property prices continue to strengthen, new product is becoming less affordable and it is becoming increasingly difficult to find a house under $500,000.
The trend is to go to unit product (townhouse or villa) or further a field to the smaller townships in the more affordable price range of under $500,000.
The Coffs Coast has an ample range of property priced under $350,000 so long as buyers are prepared to look at the older units in central Coffs Harbour or homes further a field in the lesser known townships such as Nambucca Heads, Macksville and Grafton. 
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The trade up or down buyers are diverse in their requirements and will generally be attracted to areas which suit their lifestyle depending on age and family needs. 
Downsizers typically look toward the unit and small lot properties. 
"We have seen an increase in unit development within Coffs Harbour generally centred on the Jetty precinct and Park Beach areas. 
"These two areas are only two kilometres apart however miles apart in value. 
"The more affluent downsizer looks toward the Jetty precinct close to the harbor and CBD with local restaurant and tourist facilities."
 The average price for modern units is $500,000 to $800,000.
Park Beach although having similar attributes of a good beach and shopping facilities has a more modest unit price range of $370,000 to $600,000 for modern units.
HTW noted highway upgrades north and south of Coffs Harbour have reduced travel times making commuting easier which has attracted many potential home purchasers to more fringe beachside localities such as Corindi Beach to the north, being popular with commuters from both Coffs Harbour and Grafton, and Nambucca Heads to the south where property prices are considerably more affordable in the $300,000 to $400,000 price range.
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Coffs Harbour first home buyers are likely to be 30 or older: HTW

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The founder of RAMS Home Loans, John Kinghorn, 76, has been charged with fraud offences after allegedly avoiding taxes worth more than $30 million.
Kinghorn did not enter a plea as he faced Sydney's Downing Centre Court this morning.
The Australian Federal Police (AFP) alleges he fraudulently concealed his beneficial ownership of two companies from the tax office between 2004 and 2007.
He has been charged with dishonestly influencing a Commonwealth public official and defrauding the Commonwealth, after an eight-year investigation.
The maximum penalty for the offences is 10 years' imprisonment.
Court documents show the two companies are Kalomo Pacific leasing and Kalomo Corporation limited, the ABC noted.
The AFR says the charges of fraudulently concealing beneficial ownership and tax evasion against John Kinghorn relate to the sale of RAMS Home Loans in 2007.
The AFP commenced its investigation in June 2009, which the AFR noted was  two years after Kinghorn floated RAMS for $650 million. 
On Friday, 6 October 2017, AFP officers served him a Court Attendance Notice regarding Commonwealth fraud offences.
AFP Assistant Commissioner Neil Gaughan, National Manager Organised Crime and Cyber, said the investigation required extensive cooperation within the Serious Financial Crime Taskforce and with international agencies.
“I’d like to commend the officers involved in this complex and lengthy investigation for their persistence and dedication to ensuring the integrity of Australia’s financial frameworks,” Assistant Commissioner Gaughan said.
“Serious financial crime poses a threat to Australia’s economy, financial markets, regulatory frameworks, superannuation and tax system.
“Commonwealth fraud offences have a significant impact on the Australian public – every dollar represents funds that could have been put to use for the benefit of the whole community.
“This result should serve as a warning that we will use every capability at our disposal to bring allegations of fraud before court.”
The Serious Financial Crime Taskforce is a multi-agency effort targeting serious financial crime in Australia. The taskforce sits within the AFP-led Fraud and Anti-Corruption Centre. Offences targeted by the taskforce relate to serious fraud, money laundering and defrauding the Commonwealth.
Since the Serious Financial Crime Taskforce was established in July 2015, more than 614 audits have been completed and $408 million tax liabilities have been raised. Four people have received custodial sentences following prosecution. There are currently 26 criminal, civil and intelligence matters in progress.
Fairfax Media noted today that news that Kinghorn was facing investigation by the AFP was revealed in a 2014 book on Eddie Obeid by Linton Besser and The Sydney Morning Herald journalist Kate McClymont.
It noted that secret phone taps of Kinghorn and others about a Obeid coal mine were supplied to ICAC by the AFP which was conducting its tax-related inquiry.
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RAMS Home Loans founder John Kinghorn charged by AFP with fraud

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Ann Sherry, the current head of Carnival Australia, the largest cruise ship operator in Australasia, is joining the NAB board.
Sherry is a former chief executive of Westpac New Zealand.
Sherry spent 12 years in senior roles with NAB's rival before joining the cruise ship operator in 2007.
She is also a non-executive director for Sydney Airport, the Palladium Group and Infrastructure Victoria.
She is on the board of Australian Rugby Union, Tourism &amp; Transport Forum and the Museum of Contemporary Art.
Dr Ken Henry, chair of the NAB, says she brings extensive banking and business skills together with a deep understanding of how to drive the right culture, community engagement and customer focus.
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Ann Sherry sails onto NAB board

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The freehold site of Darlinghurst’s Victoria Road institution, the Tropicana Caffe has been listed for sale.
It has been listed by the long-time owners Sergio Tezzo and George Semaan.
Tonci Farac, the former creator and owner of the Wildfire Restaurant in Circular Quay, and manager Duncan Thompson, have recently taken a 10-year lease on the site, with options extending to 2047.
LJ Hooker Commercial Sydney’s Steven Kruyer and James Griffiths <a href="https://sydney.ljhcommercial.com.au/retail-in-darlinghurst-nsw-2010-au-cu9hkr?search=%2fsearch%2fcommercial-property-for-sale-in-darlinghurst-nsw-2010-au%2fpage-1%3fsurrounding%3dtrue#.WffEABOCyfQ" target="_blank">have the listing</a> of the 284 square metre dining space, which comes with 110 square metres of storage and two secure car spaces.
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The lease generates more than $285,000 in annual rent. LJ Hooker Commercial will auction the Tropicana Caffe building on November 30. 
It has been on the foodie scene for almost four decades.
The new tenants have advised they did not intend to rebrand or dramatically reinvent the Tropicana.
 
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Freehold site of Darlinghurst's Tropicana Caffe for sale

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GUEST OBSERVER
The Reserve Bank of Australia should have a board member whose job it is to “represent the poor”, says Catholic Social Services Australia in a report released this week.
This hasn’t been tried before but it’s an interesting proposal and worth considering – particularly as recent central banking programs like quantitative easing have inflated the value of assets belonging to the very rich, exacerbating inequality and even threatening democracy.
The report is part of a continued effort by Catholic Social Services Australia to draw attention to those disenfranchised by an increasingly winner-takes-all society.
In fact, the entire notion of “trickle-down economics”, in which poorer sections of society supposedly benefit from policies that help the rich, is increasingly disputed.
Central bankers overlook inequality
Central bankers historically have not considered economic equality to be a key concern, and have been described (somewhat generously) as “innocent bystanders”. This does not really make sense, as central bank policies have statistically significant impacts on aspects of inequality including household income and consumption.
Central bankers tend to have a narrow focus, restricted to managing a small set of macroeconomic variables, and inflation in particular (which they refer to as “price stability”). Unfortunately, even after the global financial crisis, many central banks have continued to focus on inflation at the expense of a more complex economic picture, including inequality.
Central bankers are also very conscious of the need to maintain credibility. This involves presenting the board of a central bank as a group of “experts” with a long-term economic focus. Their expertise tends to be heavily tilted towards traditional economics, and they are influenced by traditional economic ideologies that do not emphasise inequality.
For example, central bank policies that focus on inflation and economic output (GDP) are limited by the fact that they do not capture the nature of unequal social conditions.
As we can see from the minutes of central bank board meetings, members do disagree and present dissenting views. However, having a representative for the poor on the board would challenge the general consensus in a new way.
A seat for the poor
In arguing for a “seat for the poor” there are several elements that need to be unpacked.
The first is the question of central bank accountability. Having a seat for the poor means that there would be a person on the board constantly questioning and challenging the other members. This is known as horizontal accountability because it is a type of oversight among equals.
As central banking involves involves deliberation among policymakers of equal rank, horizontal accountability can be an effective way for them to regularly check one another’s actions. If an “ambassador of the poor” regularly questions other board members it could keep them on their toes even if it doesn’t always sway their decisions.
The next question is around the tools and metrics that a board member representing the poor would use to present dissenting views. If the board member draws on the usual metrics that central bankers monitor, such as labor market figures and general price levels, they might arrive at similar viewpoints to their peers.
On the other hand, if this board member used metrics centered on inequality, it could be extremely beneficial to the deliberations and help to realign policy. These metrics could include income distribution, savings behaviour, welfare dependency, and socioeconomic variables - including healthcare and education outcomes.
How would we pick a representative of the poor? How would this person display and maintain their professional credibility? How would they juggle broader macroeconomic concerns with their own ideological inclinations?
The idea that a person appointed by the church should intercede in deliberations over monetary policy is antiquated at best. So the mechanisms for appointing such a person need to be carefully addressed.
Where the poor really need representation
The past few years have shown that central bank policy has a large impact on inequality. If anything, in Western countries it has made inequality much worse, as the benefits of stimulus programs have disproportionately gone to the very richest.
But it is actually fiscal policy (otherwise known as government taxation and spending), and not central bank policy, that is the best tool for addressing inequality.
This is because decisions on taxation and payments are a more direct method for addressing inequality. Progressive programs such as basic incomes, universal healthcare and public education directly impact peoples’ lived experience.
If anything, it is fiscal policy that most needs a “representative of the poor”.
Fiscal policy is so abjectly political and so deeply entrenched that a “depoliticized” fiscal regime only exists in the fantasies of academics (my own included).
<img src="https://counter.theconversation.com/content/85992/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">Nevertheless, if we want to make a real dent in inequality, it is only possible when fiscal policy is fully committed as well.
Usman W. Chohan is an economist at UNSW.
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/should-central-banks-have-a-representative-of-the-poor-85992" target="_blank">original article</a>.
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Should central banks have a 'representative of the poor'?: Usman W. Chohan

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GUEST OBSERVER
Smart cities promise efficiency and resilience in urban design to combat climate change, population growth, transport congestion and other wicked problems. The processes that run a city may be abstracted into algorithms that feed on big data, their design optimised for efficiency, commuting, work and other purposes.
This is a positive development for urban spaces, but does this approach overlook other human needs?
While research centres and urban designers are installing sensors, trackers and cameras on every street corner, game designers and artists are using a cornucopia of technologies to bring back an old idea – playing on the street. I have developed one such game for Melbourne International Games Week.
Everyone knows what play is, but as adults we often forget how to play or trivialise its significance. Play is a particular way of being, a different way of seeing the world.
The idea of play as pointless fun is challenged by the designers of serious games who remind us that it is fundamental to learning. We play with possibilities, see how something plays out – this allows us to explore alternative realities and to see familiar situations in a new way.
Play also creates social bonds, connection and community through these shared experiences. Play activates cities and engages people. It appropriates and takes over urban space, changing what it means to people.
Playful citizens can then see their town or city in a new way, feeling a new sense of connection, and sensing new ways it could be.
Not entirely a new idea
While children used to play routinely in cities before the age of digital distraction, adult play in cities is not entirely a new idea. The emergence of the modern city in the 1900s led to changes in how people engaged with and experienced public space in the form of promenading and other social play.
Last century, the playground was invented as a site designed for play. During the 1960s, the Situationists deployed play in cities as a strategy for subversion. And in the 1970s the New Games movement developed outdoor play as a community-building process.
More recently, the interventions into public space of playable cities have revitalised earlier strategies for urban play. Technology has enabled urban play to introduce new modes of engagement.
What is a playable city?
Play creates alternative ways of seeing the world. This involves not only changes in data, but changes in attitude and how we feel in cities. These are things that are harder to achieve with other design strategies in public spaces.
We all know what a game is – we are living in a time with the highest level of play literacy. Participation in games continues to rise, with 68% of Australians playing video games.
Play is often structured through technology. We may recognise that the city has rules, but those rules become changeable through an invitation to play. Games provide new rules of engagement.
Cities are in process, in flux. Although on the surface they are made of concrete, data, steel and glass, they are equally made of people and culture.
Rather than creating playgrounds for adults, playable cities transform spaces that adults already occupy into playful experiences.
A new creative platform
Playable cities appropriate smart cities infrastructure to engage people with their city and with one another. It’s a form of “hacking” urban space. Through a shared sense of community and ownership, visitors, residents and workers in playable cities may then become part of the conversation about urban design.
In this way, smart cities and playable cities may inform each other and provide a new creative platform for artists and designers. Developing encounters in a playable city blends disciplines such as urban design, public art and game development into a hybrid practice situated in urban space.
Technologies like augmented reality sit alongside live theatre, as players move between looking at the screen of their mobile to one another, observing the spaces of the city, or drifting through information architecture.
Invitations to be citizens of play
This approach recognises the multilayered nature of urban space, its complexity, possibilities and how these can be remapped into a playful experience. This happens through mobile phones, signs and ciphers hidden in laneways, large public screens and through the changes in the behaviour of players and the attitudes of those who watch them play.
Cities have always been melting pots of possibility, places that we go to rediscover ourselves - some of their major contributions to the cultural economy are community, connection and creativity.
If that sounds too utopian as we reach peak popularity in dystopian fiction, then perhaps all this play is simply training for the apocalypse – zombie survival runs are a popular genre in street games.
Playable cities do not delineate sites of play but blend this activity with the daily operation of the city itself. Sometimes it is overt, where player behaviour challenges existing rules and conventions of public space and, as a result, transforms the meaning of the site in question. More often than not it is covert, play in secret.
In this way, play persists in cities despite mass surveillance and urban alienation. It’s emerging in opposition to these as a coping strategy that draws attention to the many tensions in cities today: connection and alienation, actual and virtual, digital and analogue, public and private, civic and corporate. Come and join the big game.
Troy Innocent is City of Melbourne knowledge fellow 2017-18 and senior lecturer in games and interactivity at Swinburne University of Technology.
<img src="https://counter.theconversation.com/content/85756/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">You can experience Melbourne as a playable city with <a href="https://ludea.net/wayfinderlive/" target="_blank">Wayfinder Live 2017</a>, a mixed-reality mobile game that explores Melbourne’s laneways and streets to unlock a hidden city. The author developed Wayfinder for <a href="https://www.gamesweek.melbourne" target="_blank">Melbourne International Games Week</a>, Asia Pacific’s largest digital games festival, from October 22-29.
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/bringing-back-an-old-idea-for-smart-cities-playing-on-the-street-85756" target="_blank">original article</a>.
Photo provided by author.
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Bringing back an old idea – playing on the street: Troy Innocent 

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Net rental yields were mostly under 5% at Bayleys' recent auction of Auckland commercial properties.
The net yields achieved ranged from 6.11% on a medical clinic in Penrose that fetched $1,065,000, to just 2.66% on a $3.61 million house in Takapuna that had been converted to <a href="https://www.propertyobserver.com.au/https://www.bayleys.co.nz/1501322" target="_blank">legal offices</a> (pictured above).
The Bob Dey Property Report suggested it had more intensive development potential.
Most of the properties sold on yields between 4% and 5%, with prices ranging from $1,065,000 to $4.04 million.
The yields suggest commercial properties in Auckland can still be purchased for about the same price or less than the average price of a house in the region, but the commercial properties are likely to be providing investors with significantly better returns.
Other recent commercial property sales around New Zealand include a hair dressing salon in Hawkes Bay which sold for $815,000 providing a net yield of 5.61%.
A large industrial building in New Plymouth sold for $2.6 million providing its new owners with a net yield of 7.65%.
Another recent sale was 303-305 Great South Road, Papakura, an Asian supermarket a mixed use zoned site for $3,440,000 at a 4.73% yield. It was declared on the market at $2,800,000. 
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Auckland commercial property yields sitting under 5%

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

Joel Robinson

First look: Level 33 upsizes Wollongong apartment towers

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

First look: Urban Property Group plans next major Wollongong tower

<a href="https://www.apartments.com.au/developers/arada">Arada</a> has wasted little time expanding its ambitions in Campsie, lodging plans for a second major project in the rapidly transforming town centre just months after unveiling its three-tower One Campsie proposal on Beamish Street.

The UAE-backed developer has now taken aim at one of the suburb’s most strategically positioned sites, filing a State Significant Development Application for a <a href="https://www.apartments.com.au/new-apartments/10-north-parade-campsie-nsw-2194">33-storey mixed-use tower</a> at 10 London Street and 43 North Parade, directly opposite the future Campsie Metro Station. The proposal is currently on public exhibition and represents another significant vote of confidence in Campsie's emergence as one of Sydney’s key transit-oriented growth centres.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the development would deliver 156 apartments above a podium containing retail and commercial space, creating a new residential and commercial gateway to the town centre. The scheme also includes a four-level above-ground parking podium and a dedicated residential amenity floor featuring wellness and recreation facilities. At least 10 per cent of the apartments would be allocated as affordable housing for a period of 10 years.

The proposal occupies a 1,631 sqm site bounded by London Street, North Parade and Dispensary Lane, immediately adjoining the future Metro station precinct and just metres from Beamish Street’s retail and dining strip. According to the Urban Design Report, the project seeks to deliver "a great place that prioritises human-scaled experience and provides spatial improvements to the area."

<img alt="First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans" data-entity-type="file" data-entity-uuid="175a8324-015b-4856-abe3-ce6f23199fa7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium%20campsie.png?VersionId=742UGwXFhFBX4GEl6wX4PYIWREAgn6il" />

Woods Bagot describes the tower as a key marker within Campsie's next phase of growth.

"Located directly opposite the new Campsie Metro Station on North Parade, 10 London Street is a thoughtfully composed 33-storey mixed-use tower that contributes to the ongoing transformation of the town centre," the Architectural Design Report states. The report says the project is intended to provide "high-quality homes within a vibrant, connected urban environment, while helping define Campsie's future skyline."

A strong emphasis has been placed on the public realm. The ground floor incorporates over 500 sqm of retail space and active frontages along both London Street and North Parade, while the podium is wrapped by extensive landscaped planting intended to soften the building's scale and strengthen the pedestrian experience. The development would also widen surrounding footpaths and improve connections between the Metro station and the broader town centre.

Above the podium, residents would have access to more than 1,400 sqm of communal amenities, including a pool, gym and landscaped recreation spaces. A distinctive green-wall treatment extending across four podium levels forms a major architectural feature, helping differentiate the project within the emerging high-density precinct.

The tower's design is closely tied to the broader Campsie Town Centre Master Plan and the arrival of Sydney Metro. The Urban Design Report notes the proposal "directly supports the Campsie Town Centre Master Plan by delivering new homes in a location explicitly identified for growth, improved accessibility, and high-quality urban renewal." It adds that the project contributes to the master plan's vision for a strengthened town centre supported by thousands of new homes around the future Metro station.

<img alt="First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans" data-entity-type="file" data-entity-uuid="bfd17654-253e-489a-bade-6278d63db412" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/base%20campsie.png?VersionId=3roJPMQGs36dazpkhvpvbDDP73Ld.Ica" />

The application follows Arada's recently lodged One Campsie project at 124–142 Beamish Street and 16–18 Ninth Avenue, where the developer is seeking approval for 346 apartments across three towers rising 24, 32 and 39 storeys. Together, the two proposals would cement Arada as one of the most influential developers shaping Campsie's future urban form.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-arada-files-for-trio-of-apartment-towers-in-campsie-town-centre">First Look: Arada files for trio of apartment towers in Campsie town centre</a>

Arada entered the Australian market in 2024 and has rapidly assembled a significant development pipeline across Sydney. Alongside its Campsie holdings, the developer is soon to launch <a href="https://www.apartments.com.au/new-apartments/wattle-green-2-fishburn-crescent-castle-hill-nsw-2154">Wattle Green</a> in Castle Hill, and has expanded its local operations following its acquisition of construction firm Roberts &amp; Co.

Located around 14 kilometres south-west of the Sydney CBD, the site sits at the centre of one of Sydney's fastest-changing middle-ring precincts. The Metro conversion of Campsie Station, combined with Canterbury-Bankstown Council's master planning framework, is driving significant residential intensification around Beamish Street and North Parade, with thousands of new homes expected over coming decades.

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

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

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.

Staff reporter

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