<html><body>
<div>
<p>The NSW Land &amp; Environment Court has refused RDA Property Group's appeal to build seven more units at its Bronte Place apartment project on the controversial former Bronte RSL site.</p>
<p>RDA, headed by the former fashion identity Danny Avidan, sought an intensification of the project at at 109-113 Macpherson Street, which had been previously approved for 21 apartments last year.</p>
<p>RDA lodged a revised development application last December, which was refused by Waverley Council.</p>
<p><img src="https://www.caselaw.nsw.gov.au/asset/59e93d2be4b058596cbab42b" height="301"></p>
<div data-ad-size="4x4" data-device-type="web" data-ad-tar="pos=1" data-google-query-id="CO_mmOXugNACFc82lgodRO4DSw">Design of the initial<a href="https://bronteplaceliving.com.au/" target="_blank"> three storey block</a> was by architects SJB. Town planning expert witness Anthony Betros was engaged by the developer applicant and Joseph Vescio by the Council. Colin Biggers Paisley were the solicitors for the applicant with Wilshire Webb Staunton Beattie Lawyers for the respondent council.</div>
<div data-ad-size="4x4" data-device-type="web" data-ad-tar="pos=1" data-google-query-id="CO_mmOXugNACFc82lgodRO4DSw">
<div>
<div id="attachment_4191">
<p>It took four years to obtain development approval for the project which the former fashion identity Danny Avidan bought from the Sydney developer Winston Langley.</p>
</div>
</div>
<div>
<div id="attachment_4190">
<p>Commissioner Dickson on Tuesday dismissed the appeal due to the solar impact the additional units could cause to existing approved units.</p>
<p>"The proposed development results in a material change in impact to the solar amenity experienced by the approved apartments and to a lesser extent the adjoining development," the judgement ruled adding the impact arises from an exceedance of the controls.</p>
</div>
</div>
</div>
</div>
<div>Avidan told Fairfax Media he accepted the decision.</div>
<div class="cq-article-content-paras section">
<p>"I respectfully accept the court's decision despite the fact that I disagree with the findings. I will proceed with the current approvals," he said.</p>
<p>The community, led by the Save Bronte group, successfully protested the developer's decision to vary the 21-unit low-rise approval.</p>
<p>A three-bedroom penthouse, one of two in the boutique Bronte Place development, was sold on its launch last October, for $4 million.</p>
<div>
<p>It was among the $32 million worth of apartments sold in the long-awaited redevelopment on the site of the ­former RSL premises.</p>
</div>
<p>The project was being sold through CBRE in what was the first major apartment project in Bronte in two decades.</p>
<div id="ad-block-9927527878-2" data-ad-size="4x4" data-device-type="web" data-ad-tar="pos=1" data-google-query-id="CO_mmOXugNACFc82lgodRO4DSw">Sales included a one-bedroom, 30sq m apartment that sold for $1.55 million. The $4 million sale was a three-bedroom, 135sq m apartment.</div>
<div data-ad-size="4x4" data-device-type="web" data-ad-tar="pos=1" data-google-query-id="CO_mmOXugNACFc82lgodRO4DSw"> </div>
</div>
</body></html>

j.ballantyne1990-6AQqhLzZaK

Danny Avidan loses L&E Court appeal on controversial Bronte RSL site intensification

<html><body>
<div>
<p>Westpac, Australia's second-largest lender, has cut its rates for first-time home buyers and investors.</p>
<p>Its affiliates St George, Bank of Melbourne and BankSA are also cutting fixed rates.</p>
<p>The campaign comes mid-spring in the peak residential selling season. Based on Westpac’s credit criteria, residential lending is not available for non-Australian resident borrowers. The offer commences 23rd October 2017 and is only available for a limited time.</p>
<p>They are also targeting a revival in first-time home buyers encouraged by state government stamp duty cuts amid less competition from investors and overseas buyers. </p>
</div>
<div>Interest-only loans are excluded from the offers, Fairfax Media noted.</div>
<div>
<p>The latest cuts include increasing the two-year introductory offer discount on Flexi First Option home loan from 71 basis points to 84 basis points for the first two years.</p>
<p>The headline rate will be 3.75 per cent which at the end of the term will roll into the product's base rate, which sits currently at 4.59 per cent.</p>
</div>
</body></html>

Westpac cuts rates to capture mid-spring buyers

<html><body>
<p>Allan Raad of Wentworthville, NSW and his brother-in-law Yousef Joseph Bazouni of Sandringham, NSW, have appeared in the Downing Centre Local Court on charges of breaching their director duties and fraudulently removing company assets. <br><br>ASIC alleges that Mr Raad dishonestly used his position as a director of Cornish Property Services Pty Ltd (the company) with the intention of indirectly gaining an advantage for himself and that he fraudulently removed property belonging to the company. It is also alleged that Mr Bazouni aided Mr Raad in these alleged offences. <br><br>The charges were brought against Mr Raad and Mr Bazouni following an ASIC investigation into the sale of the company assets shortly before it was placed in liquidation. <br><br>ASIC alleges that on 2 July 2011, Mr Raad sold some of the company assets to Mr Bazouni's company for $20,000.</p>
<p>Then, on 4 August 2011, Mr Bazouni on-sold some of those assets to an unrelated party for $176,000 and gave the proceeds to Mr Raad.</p>
<p>ASIC alleges that Mr Raad used the funds on personal expenses and to make preferential payments to creditors of the company to whom Mr Raad provided personal guarantees. However, Mr Raad did not make payments to other creditors of the Company.<br><br>ASIC also investigated debtor payments that were owed to the Company. ASIC alleges that on 29 July 2011 and 11 August 2011 Mr Raad and Mr Bazouni redirected the debtor payments to Mr Bazouni's company. Once the money was received, Mr Bazouni transferred $21,000 to Mr Raad.<br><br>Mr Raad placed the company into voluntary liquidation on 18 August 2011 having outstanding liabilities of $1,643,052.55, of which $1,115,197.12 was owed to unsecured creditors. <br><br>Messrs Raad and Bazouni appeared last week on 18 October 2017.</p>
<p>The matter was adjourned for mention to 21 November 2017 at the Downing Centre Local Court.</p>
<p>The Commonwealth Director of Public Prosecutions is prosecuting the matter.</p>
<h2><span style="font-family: Tahoma, Helvetica, Arial, sans-serif; font-size: 12.15999984741211px;">Mr Raad has been charged with one count under s184(2) of the Corporations Act and two counts under s590(1) of the Corporations Act. Mr Bazouni has been charged with aiding and abetting Mr Raad in committing these offences pursuant to Clause 11.2(1) of the Commonwealth Criminal Code.</span></h2>
<p><br>The maximum penalty for a breach of s184(2) is 2000 penalty units or imprisonment for five years, or both.The maximum penalty for a breach of s590(1) is 100 penalty units or imprisonment for two years, or both.</p>
</body></html>

ASIC move against two directors 

<html><body><div class="page" title="Page 29">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>The market within the Port Macquarie area is still receiving strong activity from home owners, but the recent </span>rapid price increases have slowed, according to a recent report by valuers, Herron Todd White.</p>
<p>Recent sales show a trend of home owners purchasing new residential properties in the outer suburbs of Port Macquarie within new subdivisions.</p>
<p>"Here the land component is less expensive than the beachside suburbs with blocks ranging from $210,000 to $240,000," HTW noted.</p>
<p><span>Older standard and more centrally located 3-bedroom, 1-bathroom dwellings are proving to be popular with the first home buyer section, however steep competition earlier in the year has caused rapid increases in prices.</span></p>
<p>A two-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-port+macquarie-125178742" target="_blank">73/270 Hastings River Drive</a> (above) at Port Macquarie has sold for $210,000. The selling agent was Edward Bajt of Wiseberry.</p>
<p>A two-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-port+macquarie-125486154" target="_blank">129/1 Ocean Street</a> in Port Macquarie sold for $230,000. The selling agent was Louise Fleming of Wiseberry.</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/2017/10/24/PortMacquarie2.jpg" alt=""></p>
<p>"This rapid increase has slowed and we are now seeing some of these houses taking longer to sell and often at below asking price.</p>
<div class="page" title="Page 29">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>"In the first half of 2017 these properties were mostly </span>selling at listing price within one to two weeks."</p>
<div class="page" title="Page 30">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>HTW noted that the investor market has "somewhat cooled" with rental returns within the township of Port Macquarie decreasing slightly and allowing entry level owner-occupiers to be more active within the sector. </span></p>
<p><span>Houses within the middle range are still selling well with many of these properties being more suitable for middle to high level income families. </span></p>
<p><span>A high percentage of these houses include pools, indicating that family friendly houses are being sought after within the region.</span></p>
<p><span>"Generally though, as investor activity has dropped off, owner-occupier activity has increased and overall market activity has lessened slightly during the second half of the year to date.</span></p>
<p>"Come springtime the markets tend to pick up again."</p>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div></body></html>

Port Macquarie district house price growth slows

<html><body><div class="page" title="Page 39">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>As housing affordability in Melbourne continues to be a major issue, buyers are looking to regional areas as a way to get their foot in the property market.<br></span></p>
<p><span>The valuation firm Herron Todd White says the Melbourne buyer has entered the Ballarat market targeting centrally located properties.</span></p>
<p><span>They e</span>specially want properties within close proximity to the railway station.</p>
<p>Soldiers Hill situated north of the railway station has experienced steady growth over the past year with the median house price in April 2017 at $365,000 up from $318,000 the same time last year.</p>
<p>A three-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-ballarat+central-126481234" target="_blank">504A Urquhart Street</a> (above) in Ballarat has sold recently for $330,000. It was transacted through Damien Larkin and David Morrison of Ballarat Real Estate.</p>
<p>A three-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-ballarat+central-126427158" target="_blank">83 Peel Street South</a> in Ballarat Central was snapped up for $275,000. The selling agents were Mark Nunn and Chris McAteer of Buxton Ballarat.</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/2017/10/24/Ballarat2.jpg" alt=""></p>
<p>Central Ballarat and Alfredton also experienced a 6.5% increase in the first quarter of the year.</p>
</div>
<div class="column">
<p>HTW noted market confidence in Ballarat continues to rise with the State Government moving 600 jobs to the Ballarat Civic Hall site in 2020.</p>
<p><span>It also noted upgrades to the railway line to decrease commuter time to Melbourne and redevelopment of the Ballarat Station precinct had assisted buyer interest in the town. </span></p>
<p><span>"July 1 saw the commencement of the new First Home Owner’s Grant, with stamp duty concession on existing dwellings under $600,000 and an increased incentive to newly built homes. </span></p>
<p><span>"In the lead up to July 1st, first home buyers withdrew from the market waiting to cash in on the government incentives," HTW noted.<br></span></p>
<p><span>"As the financial year clicked over, central areas of Ballarat experienced the greatest growth in prices. </span></p>
<p><span>The volume of vacant land sales spiked in new residential estates as of July 1.</span></p>
<p><span> Ballarat has no shortage of vacant land for sale with new residential estates offering land in Bonshaw, Lucas, Delacombe and Alfredton. </span></p>
<p><span>HTW noted prices have eased for land due to the oversupply over the past few years. </span></p>
</div>
<div class="column">
<p><span> </span></p>
</div>
</div>
</div>
</div></body></html>

Ballarat attracting Melbourne buyers

<html><body><div class="page" title="Page 34">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>First home buyers are significantly active in Albury-Wodonga, according to the valuation firm, Herron Todd White.</span></p>
<p><span>Its first home owners appear to be enticed by their first home being a new home and often this is achievable if they have been living at home or renting affordably whilst saving a deposit. </span></p>
<p><span>However, recent increases in vacant land prices may have given rise to first home owners reconsidering existing dwellings as their starting point, HTW noted.</span></p>
<div class="page" title="Page 34">
<div class="section">
<div class="layoutArea">
<div class="column">
<p>It noted the detached dwelling sub $200,000 market diminish significantly, in most part due to investors rather than home owners.</p>
<p><span>"First home owners appear reluctant to buy the basic starter house despite a good supply of dwellings available sub $300,000. </span></p>
<p><span>"Upgraders seem to be on the move with better prices being achieved for basic housing stock and they are paying more as a result for the next home or trying to keep the first home as well."</span></p>
</div>
<div class="column">
<p>First home owners have options in Albury-Wodonga and a budget of between $280,000 to $350,000 will secure a detached dwelling in a new housing estate or sub $300,000 budget gives options in the existing dwelling market.</p>
<p>A three-bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-nsw-albury-126207782" target="_blank">1/300 Norfolk Street</a> (above) in Albury has just sold for $285,000 through Steam Nicholls.</p>
<p>A four-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-albury-126171606" target="_blank">427 Schubach Street</a> in Albury was snapped up for $315,000. The estate agent was Tom Sanderson of Wodonga Real Estate.</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/2017/10/24/Albury2.jpg" alt=""></p>
<p>The upgraders’ budget is around $350,000 to $450,000 depending on the property they are jumping up from and can be spread evenly between new and existing stock.</p>
<p><span> The forever home owner has the largest budget range of between $500,000 to $800,000 which may be a build or fully renovated dwelling. </span></p>
<p><span>The downsizer’s budget may also be dependant on where they have divested and is usually between $400,000 and $600,000 - low maintenance, central, all done or ready to tackle major renovation in prime locations with cash to spare. </span></p>
<p><span>HTW noted the last two categories are experiencing competition from many cashed up ex-Sydney or Melbourne relocators and the lower end of market is facing competition from out of town investors. </span></p>
<p><span>Around Albury-Wodonga 85% of dwellings are detached, with the remainder semi-detached with very few units. </span></p>
<p><span>The new housing </span>stock is predominantly 3- to 4-bedroom, 2-bathroom detached dwelling on varying allotment sizes.</p>
<p>There have been some new developments completed with small allotments with a mix of homeowners and renters occupying these dwellings.</p>
<p>HTW noted there was also a recent spike in duplex construction usually with configuration of 3-bedrooms and 1- or 2-bedrooms, although the majority were marketed and sold to the investor market.</p>
<p>"Overall, probably due to the expectation of living in the country, a detached dwelling is preferable, in plentiful supply and still top of mind for most home buyers." </p>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div></body></html>

Albury-Wodonga's affordability attracts first home buyers 

<html><body><div class="page" title="Page 43">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>The Toowoomba and surrounding residential property market remains steady at present, according to the valuation firm, Herron Todd White, with low sales volumes widespread across all sectors. </span></p>
<p><span>Being one of the more affordable regional locations in Australia, Toowoomba offers an opportunity for fi</span>rst home buyers in the sub $450,000 segment.</p>
<p>"Toowoomba and surrounding suburbs offer an opportunity for many different types of home owners, with various industry and job opportunities, a central hub location, a diverse property market and varying segments.</p>
<p>HTW noted while lending has tightened and property ownership has become more difficult, there are still good opportunities in the Toowoomba region.</p>
<p>"Strategies such as joint ownership can also bring affordability to young people getting their foot in the ownership door and out of the rental market," their recent report noted.</p>
<div class="page" title="Page 43">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>The typical product attractive to first home buyers tends to be in the sub $450,000 segment, being new 2- and 3-bedroom units as well as 3- and 4-bedroom houses located in active investor areas in the western suburbs of Toowoomba and satellite suburbs such as Cambooya and Wyreema. </span></p>
<p><span>"The other trending option is to buy older housing in more established areas."</span></p>
<p>A three-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-qld-newtown-125333342" target="_blank">2a McDowall Street</a> (above) in Toowoomba’s Newtown suburb sold for $412,500 recently. The selling agent was Darren Bliesner of Professionals.</p>
<p>A four-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-qld-harristown-124937858" target="_blank">24 Friend Street</a> in Harristown (Toowoomba) changed hands for $420,000. The selling agent was Craig Horncy of Century 21.</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/2017/10/24/Toowoomba2.jpg" alt=""></p>
<p>Noting families generally seek slightly different properties to first home buyers, with a focus on more space (i.e. 4-bedroom houses), bigger back yards and close proximity to schools, HTW noted this type of housing was found throughout Toowoomba, Highfields and Westbrook in the sub $600,000 segment.</p>
<p>Empty nesters seem to stay put in the family home or down-size to unit or villa living and seem to fill the higher priced property segment.</p>
</div>
<div class="column">
<p><span>"Attached housing and detached housing on small lots are tending to grow in popularity throughout the Toowoomba area, particularly in the older areas close to the CBD. </span></p>
<p><span>"The dream of having a big back yard appears to be changing. </span></p>
<p><span>"Many infill blocks have been sub-divided into smaller lots or have had unit complexes built on them. </span></p>
<p><span>"This type of product may be attractive to empty nesters looking to downsize for maintenance and convenience reasons."</span></p>
<p><span>It noted attached housing is also becoming more appealing to first home buyers for affordability. </span></p>
<p><span>"This product is often more suited to home buyers than investors due to costs for the location and resulting returns on capital."</span></p>
<p><span>HTW advised the sector most active is upgraders looking toget into a bigger house or a more desirable location. </span></p>
<p><span>Properties in areas such as Rangeville, Middle Ridge, East Toowoomba and Mount Lofty seem to be what is sought after by this sector. </span></p>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div></body></html>

Toowomba's affordability sees sub-$450,000 FHB buying

<html><body>
<p class="noindent">A 2,435 sqm development site in Williamstown has been bought by a Chinese national for $4.5 million.</p>
<p class="noindent">Savills sold the vacant corner property at <a href="https://www.realcommercial.com.au/property-land+development-vic-williamstown-502443422" target="_blank">9-27 Kororoit Creek Road</a> with residential zoning.</p>
<p>The land, sold by VicRoads, is opposite the North Williamstown railway station.</p>
<p>Its level crossing is being converted into an overpass.</p>
<p>The site has been in the hands of VicRoads since the 1970s for the purposes of widening the road.</p>
<p>It was subsequently abandoned due to widening on the northern side of the road. The land has been declared surplus. </p>
</body></html>

Savills sells Williamstown sites to Chinese national

<html><body>
<p>Property investors will soon have a new organisation lobbying governments, with a group set to launch aiming to protect their interests.</p>
<p>The soon-to-be-formed Property Investors Council of Australia (PICA) describes themselves as a not-for-profit association run “by property investors, for the interests of property investors”. </p>
<div>
<div id="adspot-1x1-pos-5" data-google-query-id="COvdxtf-hdcCFU0ylgod9sQDLg">
<div id="google_ads_iframe_/31694718/domain.com.au/news_2__container__">Their objectives include spreading the message that property investors contribute to tax revenue, job creation, property and rental accommodation supply and affordability, self-funding retirement and economic growth.</div>
</div>
</div>
<p>It also aims to stop investors from being “singled out”, saying property investors have been blamed as the main cause of unaffordable housing and being subject to potential tax grabs by governments.</p>
<p>With the ambitious aim of a membership base of more than one million members, the organisation was launched at the Sydney Property Buyer Expo on Saturday.</p>
<p>The chair of the group is Empower Wealth chief executive Ben Kingsley who said "the two million-plus property investors in Australia currently don’t have a voice”.</p>
<p>They will also push for the regulation of property advice, something that has also been the goal of the Property Investment Professionals of Australia group, which Mr Kingsley also chairs.</p>
<p> </p>
</body></html>

Property Investors Council of Australia established to fight for investors

<html><body>
<p class="first-para"><span style="font-size: 12.16px;">Investment banker Scott Malcolm and his wife Jane Taylor have reportedly sold Carmel in Edgecliff for more than $15 million.</span></p>
<p>The classic Edgecliff trophy home Carmel has had a who's who of owners.</p>
<p>Its trophy sale price fell well short of the $19 million originally sought when it was listed in April through Sothebys.</p>
<p><span class="lead-wide"><span class="domain-article-caption">The 1930s house with distinctive art deco and Mediterranean villa touches is s</span></span>et on 1290 square metres, designed by F. Glynn Gilling for prominent stockbroker, Stanley Utz.</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/2017/10/24/Carmel21.jpg" alt=""></p>
<p>The founder of the Daily Mirror newspaper Ezra Norton bought it in 1959 for £17,000.</p>
<div class="in-content-ad">
<div id="adspot-1x1-pos-5" class="ad" data-google-query-id="CPXMmr7UhtcCFYUvlgodLzMJmw">
<div>The executive chairman of Greenstone Partners and his wife are moving to Elizabeth Bay, where they paid $8.55 million last year for a penthouse once owned by Hermes Australia boss Karin Upton Baker and her husband Gary Baker. soon after he married his secretary Emma “Peggy” Morrison.</div>
</div>
</div>
<p>Businessman John Mellick and his wife Gemile bought it in 1990 for $3.25 million, transferring it to their daughter Kate and her husband Dominic Roche, of the Nutrimetics family for $4.5 million in 1999.</p>
<p>The Roches sold it to Malcolm in 2001 for $6,775,000 it set a suburb record.</p>
</body></html>

Edgecliff's Carmel sale price falls well short of $19 million hopes

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


Joel Robinson

Lendlease selected to deliver transformative South Brisbane riverfront precinct

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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."</p>

<p>Wollongong is somewhat in vogue. Between Level 33 and Urban Property Group, the two developers have several thousand apartments planned across the city.</p>

<p>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.</p>

<p>The developer plans to redevelop the 13,088 sqm WIN Grand megasite into <a href="https://www.apartments.com.au/new-apartments/crown-square-216-238-keira-street-wollongong-nsw-2500">Crown Square</a>, a new $500 million precinct with nearly 600 apartments. It also has more than 900 apartments planned for the former Bunnings Warehouse site at the intersection of Gipps and Flinders streets.</p>

<p>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.</p>


First look: Level 33 upsizes Wollongong apartment towers

<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>


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>


Staff reporter

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News