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The Australian Prudential Regulation Authority will keep its caps on lenders' loan activity until household debt levels stabilise.
The prudential regulator made their policy affirmation in an address to building societies and credit unions on Monday by APRA's boss Wayne Byres.
Byers said lending restrictions in interest-only and investor loans were working.
He said they will stay until APRA sees household debt levels stabilise and lending standards increase.  
The crackdown began in late 2014. 
"For those of you who chafe at the constraint, their removal will require us to be comfortable that the industry's serviceability standards have been sufficiently improved and – crucially – will be sustained," Mr Byers said in a presentation to the Customer Owned Banking Convention conference in Brisbane.
"We will also want to see that borrower debt-to-income levels are being appropriately constrained in anticipation of, eventually, rising interest rates."
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<div>APRA's lending restrictions hold growth in investor loans within banks to be no higher than 10 per cent.</div>
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<div>Interest-only property loans must be restricted to 30 per cent of all new residential loans.</div>
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<div>It has resulted in interest-only loans declining from around 40 per cent of all new mortgages to around 15 per cent.</div>
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<div>Mr Byres said he expected that in a period of high house prices, low interest rates, weak income growth and rising household debt levels, bankers would respond by tightening lending standards, which had "absent regulatory intervention, been drifting the other way".</div>
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Byres said lenders had favoured increased market share over prudence.  
"That temptation has, unfortunately, been widespread and not limited to a few isolated institutions – the competitive market pushes towards the lowest common denominator."
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j.ballantyne1990-6AQqhLzZaK

APRA to keep caps on lenders' loan activity until household debts levels stablise

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A Norwood offering sold for $2.44 million, making it one of the Adelaide suburb's most expensive recent auction sales.
The property at <a href="https://www.realestate.com.au/sold/property-house-sa-norwood-126386946" target="_blank">25 William Street</a> is 1560 square metres with development potential.
With two street frontages, it features a north aspect to rear measuring 24 metres x 64 metres with principal frontage to William Street and rear frontage to Threlfall Avenue.
Currently, it is occupied with five one bedroom units in neat condition with carports included.
<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/2017/10/08/25%20William%20Street-2.jpg" alt="">
It was marketed as an opportunity to develop a prestige home or multiple redevelopment options.
The Parade and public transport are a short walk, while the city is 10 minutes away.
The property was offered through Harris Real Estate agents Nick Baranikow and Kathryn Roberts.
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Norwood development site sold for $2.44 million

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GUEST OBSERVER
Most Australians will be forced to move onto the NBN within 18 months of it being switched on in their area, and that means navigating what can be confusing new contracts.
So, what are your rights regarding landline and internet connections?
Landlines
Many consumers can and do manage without a landline. But particularly for those without a reliable mobile service, a landline can be essential. It is included in many phone and internet “bundles” offered by internet service providers.
Standard telephone services (primarily landline services) are subject to a Customer Service Guarantee enshrined in law under the Telecommunications Act 1997.
This means that standards apply to common services such as connection of a phone line, repairs of that line and attending appointments on time. The provider will have to pay compensation to the customer if the Customer Service Guarantee standards are not met.
Despite this, some providers suggest a customer waive his or her customer service guarantee rights. There are safeguards for this waiver to be effective, primarily in that the provider must explain the nature of the rights to the customer before asking for the waiver.
The idea behind allowing providers to request a waiver of the Customer Service Guarantee is that it will allow customers to obtain cheaper services than would otherwise be the case. However, we might question the integrity of the consent typically given to such waivers, given consumers generally don’t read contracts and may have little understanding of the value of the Customer Service Guarantee or the likelihood of having to claim under it.
In any event, providers cannot ask for a waiver for Universal Service Obligations, which ensure accessible services for all customers, including those with a disability and those who live in remote areas.
Internet
The Customer Service Guarantee does not apply to internet connections – although the Australian Communications Consumer Action Network has argued that it should.
So there are no statutory obligations for internet providers, or NBN Co, to connect customers within a particular time frame or respond promptly to complaints.
The main safeguard for customers for internet services is in the Australian Consumer Law (ACL).
If an internet service provider promises a particular broadband speed and does not provide that speed, the provider may have engaged in misleading conduct contrary to the ACL. Damages and even penalty payments could be awarded against it. And fine print qualifications to the headline statement about internet speeds will not necessary protect the provider.
In addition, the Consumer Guarantees under the ACL (not to be confused with the Customer Service Guarantee under the Telecommunications Act) ensure that any equipment provided with an internet service must be of acceptable quality, and services be provided with due care and skill.
If these standards are not met, the consumer has a right to certain remedies under the ACL and damages for losses that result from the failure. These rights should go some way to protecting telecommunications consumers, although of course they do not directly guarantee that the provider will arrive on time for a scheduled appointment.
<img src="https://counter.theconversation.com/content/85904/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">So while you may wish to charge your internet service provider for not turning up to an installation appointment, you wouldn’t get far under current Australian law.
Jeannie Marie Paterson is associate professor at University of Melbourne.
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>. 
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Your rights when buying internet services: Jeannie Marie Paterson

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A two bedroom, rendered 1948 solid brick home, sitting on a 722 square metre parcel of land at Flinders Park in South Australia, has been listed by the mortgagees.
Set opposite a reserve, <a href="https://www.realestate.com.au/property-house-sa-flinders+park-126751998" target="_blank">the Tasman Avenue house</a> was marketed as an opportunity to complete the works commenced by previous owner.
The property comes with a lock up carport and separate garage - which could be used as a small workshop and also to store vehicles, tradie tools or small boat.
It last traded in 2009 at $350,000 and 2002 at $209,000.
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Flinders Park 1940s home listed by mortgagee

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A John Chappel-designed five bedroom home at Springfield was Adelaide's priciest weekend sale at $1.43 million.
There have been <a href="https://www.realestate.com.au/property-house-sa-springfield-126465846" target="_blank">$1,500,000 to $1,650,000 Toop &amp; Toop price guidance</a> for the house which sits on a 1,197 suuare metre block at 6 Coreega Avenue.
John Chappel, who was born in Unley Park, in 1923 and died in 2013.
Chappel first became interested in architecture through his contact with Victorian architect Jack Hobbs McConnell, who boarded with the Chappel family after he moved to Adelaide to work with Philip Claridge and Associates.
For about 12 months in the mid-1950s, Chappel was the group architect for the War Service Homes Division.
He oversaw the development of some 400 houses at North Glenelg, Woodville and Brighton.
From the 1950s to the late 1960s he was a member of the board for the Small Homes Service of South Australia.
Chappel become an architectural correspondent with the Advertiser in 1956, a role extended over three decades until 1990.
He received many commissions, mainly in the residential field, including from a number of prominent South Australian families, including the Bonythons and Kidmans.
Chappel was a member of the National Trust of Australia (SA Branch) and while being an advocate for heritage listing, he also argued for financial assistance for owners of heritage listed buildings
It has been reported Chappel claimed that ‘the modern movement in architecture arising from Bauhaus is surely the most significant happening in architecture since the days of the Greeks and Romans’. He became a close friend of Sydney architect, Harry Siedler.
Chappel was greatly influenced by the Melbourne School led by Robin Boyd in the post-war years. Through him, Chappel met other Victorians including Peter McIntyre, with whom he would stay, Roy Grounds, Geoff Mewton, Neil Clerehan, Kevin Boreland.
In the late 1950s, Chappel went to Melbourne to study the latest trends in the design of blocks of flats. Upon returning to Adelaide he designed and developed ‘own your own’ apartments in Broughton Street, Lockleys. This concept was based on co-ownership, a first in South Australia, and a forerunner to strata titles.
He went onto design a block of 76 flats for Peter Hearne of Orlit Constructions, at 100 South Terrace, Adelaide, the largest of its type in the state at that time. In 1969 he accepted a commission from Highrise Pty Ltd to design a multi-storey block of flats which became a prototype for many others.
Chappel held that ‘architecture [was] his religion’ and that ‘it [was] a privilege to be an architect’, with the basic principles of good design being ‘function, truth and architectural integrity.'
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John Chappel-designed Springfield home sold

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A Canberra office building is set for auction after being fully leased to Seeing Machines for a 10-year term plus option.
The <a href="https://www.realcommercial.com.au/property-offices-act-fyshwick-502563922" target="_blank">165 Canberra Avenue</a> asset in Fyshwick is being auctioned on October 26. Hyperion Property Group has appointed Colliers International to market the campaign.
Seeing Machines is a Canberra start-up and now global organisation listed on the AIM of the London Stock Exchange and currently employ just under 200 people in Canberra.
It develops computer vision related technologies that help machines understand people tracking and interpreting human faces and eyes.
It is a standalone building that has recently undergone cosmetic upgrades, and future tenant works are estimated at $4 million.
Seeing Machines appointed Canberra-based interior design studio, Core Interiors, to design their fit-out.
The two-level building, constructed in 1994, was purpose-built for a technology company.
Colliers International’s Matthew Winter, who is the listing agent, said the 5,256 sqm corner site "presents purchasers with an outstanding long-term proposition.”
“The property lies within the East Lake Precinct which is currently under investigation by the ACT Government for future re-zoning to encourage urban infill via residential development,” said Matthew.
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Canberra office building leased to tech company Seeing Machines listed

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An office and warehouse complex suited for a corporate headquarters at Bundall on the Gold Coast is being offered for sale via auction through Ray White Commercial Southport.
The freestanding facility at <a href="https://www.realcommercial.com.au/property-offices-qld-bundall-502435078" target="_blank">17 Strathaird Road, Bundall</a>, is being marketed by Wayne Devenport of Ray White.
The auction will be held on October 26. Park Trent, the property advisory group, have been there with signage rights.
The partially tenanted property is on a land area of 3,492 sqm with total building area of 1,931 sqm.
“The asset comprises a two-level quality office of 756 sqm to the front and an 1,175 sqm warehouse to the rear, with two gymnasium tenants occupying approximately 560 sqm of the warehouse area,” he said.
“The property would be an ideal corporate headquarters or investment in a highly sought-after location."
The offices to the front of the building comprise a reception, meeting room, seven offices, 14 station open plan area and full kitchen, coms room and server room.
The second floor has facilities for an eight station open plan area, multiple offices, meeting room, boardroom and kitchen.
The property is zoned ‘mixed use, fringe business precinct’.
 
 
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Office-warehouse in Gold Coast's Bundall listed for auction

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US doughnut giant Krispy Kreme's securing an outlet at Bulleen Plaza is part of a trend where fast food retailers are looking to expand across Melbourne. 
Earlier this year, the doughnut retailer moved into a site previously occupied by Hungry Jacks, signing a 10-year lease over the 280 sqm property.  
It has more than 19 outlets nationally.
In NSW, Krispy Creme's outlets are at Auburn, Central Station (Sydney CBD), Liverpool - Factory Shop, Mascot -Factory Shop, Penrith and two shops at Sydney’s airport.
In Queensland, Krispy Kreme has its stores at Brisbane Qantas Domestic Terminal, Myer Centre (CBD), Pacific Fair and Shell Nudgee.
In Victoria, they are at Collins St (CBD), Fountain Gate - Factory Shop, Melbourne T1 Qantas, Melbourne T3 Virgin, Melbourne T4 and Swanston Street in the CBD.
In Western Australia, it’s at Myaree, Whitford City Centre - Factory Shop
In South Australia, it is run as a separate business.
<img src="https://www.urban.com.au/images/2017/10/20/KrispyKreme.png" alt="">
The lease for Bulleen Plaza was negotiated by CBRE’s Chris Parry and Tom Perkins.
Located in Melbourne’s north-eastern suburbs, Bulleen Plaza is a neighbourhood shopping centre anchored by a Coles supermarket and more than 60 retail stores. 
<div>Hungry Jacks relocated to a new space in a joint venture with Shell Petroleum.  </div>
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<div>“The transaction highlights the strong interest from fast food retailers looking to expand into the Melbourne metropolitan market, particularly in areas which are seeing high levels of customer footfall such as the north-east,” said Parry. </div>
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Krispy Kreme brings its doughnuts to Melbourne's Bulleen Plaza  

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Bedding and homewares brand Moss River has collapsed into voluntary administration with 65 creditors owed more than $2.6 million, and three stores quickly closed.
It is just two years since the business first fell into the hands of administrators in July 2015.
BDO partners Andrew Sallway and James White were appointed last month as administrators to Fineline Home Products Pty Ltd, which operates eight Moss River stores and an online store.
It employs around 40 people, mostly along Australia’s east coast.
The 39-year-old business sells linen and homewares items.
It previously went into administration in 2015 when it was then owned by an entity called Residential Homewares.
Administrator Andrew Sallway told the SmartCompany website challenging retail conditions led to the latest voluntary administration for the retailer.
The closure of the three Moss River stores were at Hyde Park in South Australia, Hawksburn in Victoria and Mona Vale in New South Wales.
The Moss River online store was described by Sallway as “easily the best revenue generator” and the best performing asset in the group.
Moss River has approximately 65 creditors, and BDO says on first estimates these parties are owed $2.6 million.
Sallway says the search for a suitable buyer for the business will continue.
Retail expert at Queensland University of Technology associate professor Gary Mortimer noted the next few years are likely to be tough for small retailers in the homewares space.
The discount department store market is generating one fifth of its sales from homewares, according to latest IBISWorld data, with discount grocer Aldi recently making a move into the increasingly crowded space.
 
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Homewares retailer Moss River goes into voluntary administration again

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A Western Division pastoral property, Moorna Station is being marketed by CBRE on behalf of the Walsh family, who have held the historic property since 1983.
Expressions of interest for <a href="https://property.cbre.com.au/properties/465-rufus-river-road-wentworth-nsw-2648/" target="_blank">Moorna Station</a> close on October 27, with offers expected to be submitted on the high side of $8 million. 
Moorna Station, in the lower Murray region, is a sustainable grazing operation supplemented by cropping, with further potential for more intensive development, including irrigated horticulture and viticulture.
Situated 30 kilometres west of Wentworth, fronting the north bank of the Murray River, Moorna Station is 18,896 hectares.
The property was one of the first to be settled on the lower Murray when it was taken up in 1846 by Ned Bagot, at about twice its present size.
In 1850 the station changed hands to E.B. Scott, who built the first homestead before selling in 1862 to John Crozier, whose extended family stayed until 1939.
It was then bought by a syndicate of South Australian interests including the Hawker family of Bungaree Merino stud, who introduced their bloodlines to the 70-year-old Moorna stud.
In 1972 Moorna was acquired by Douglas Morphett, who divided the property in two when reselling in 1978, the eastern section becoming Warrananga, while the homestead block was bought by David Hawker, who sold to the present owners.
The Moorna homestead, erected in 1869 by William Crozier was expanded by his brother-in-law Ben Chaffey in 1912.
Set in established gardens beside the Murray River, the rendered brick homestead of 10 bedrooms comprises three wings with a central courtyard.
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Moorna Station offered with $8 million plus hopes

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

Joel Robinson

Lendlease selected to deliver transformative South Brisbane riverfront precinct

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

First look: Level 33 upsizes Wollongong apartment towers

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

First look: Urban Property Group plans next major Wollongong tower

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

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

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

Staff reporter

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