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Melbourne's median house price growth moderated in the September quarter, according to the REIV, as new policy initiatives increased sale volumes at the lower end of the market. 
Outer Melbourne dominated the top 20 growth suburbs this quarter as buyers looked for affordable entry points to the market. 
The seaside suburb of Dromana was the city’s best performing with its median house price increasing 15 per cent on June figures to $790,250. Sunbury, Ringwood East and Diamond Creek also experienced double-digit quarterly growth. 
Broadmeadows made the top 10 growth locations, with its $595,000 median price reflected in the brick veneer offering (above) which had redevelopment potential.
The latest REIV data shows the metropolitan Melbourne house price recorded its lowest increase in almost two years, up just 0.7 per in the September quarter to $817,000. 
The REIV Acting President Richard Simpson said the moderation was attributable to 44 per cent of all sales in the September quarter being below $600,000. 
“In the June quarter we saw vendors with houses around that $600,000 price point hold off selling in order to capitalise on greater competition from first homebuyers.” 
“These incentives have certainly worked with first homebuyers accounting for 18.3 per cent of all new home loans in August - the highest since September 2013.” 
“Despite the moderation, the market remains strong with the Melbourne median house price up a remarkable 14 per cent on the same period last year. We’re also seeing buyer demand continue to outstrip supply and a high level of vendor confidence.” 
“Given the strength of the market at present, buyers are looking for new growth areas which offer value without the need to compromise on amenities or infrastructure.” 
“Increased competition for homes further from the city is boosting the median house price in many of these areas, with all of the city’s most affordable suburbs experiencing significant annual growth.” 
Mr Simpson added that the city’s inner ring recorded the strongest growth of any region in the September quarter with its median house price increasing 1.5 per cent to just over $1.5 million. 
“Buyer demand within 10km of the CBD remains strong, which is being supported by a shortage of quality stock.” 
Apartment prices were also impacted by the Government’s first homebuyer initiatives with the citywide median falling for the first time in six quarters, down 2.5 per cent to $587,000. 
Meanwhile, house prices in regional Victoria increased for the third consecutive quarter, up 1.2 per cent to $385,000. 
TOP GROWTH SUBURBS – SEPTEMBER QUARTER (min 30 sales) 
Suburb                      Sep-17         Median Quarterly Change 
DROMANA                $790,250            15% 
SUNBURY                $518,000            14.5% 
BALWYN NORTH      $2,105,000         13.8% 
RINGWOOD EAST    $1,030,000          13.2% 
LALOR                    $682,500              12.8% 
DIAMOND CREEK    $813,100              11.9% 
BENTLEIGH            $1,610,000          11.8% 
RICHMOND            $1,442,000          10.8% 
ELTHAM                  $945,000                9.8% 
BROADMEADOWS $595,000                9.7%
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j.ballantyne1990-6AQqhLzZaK

Dromana leads price growth, but Broadmeadows in catch up: REIV

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The New Zealand-born operatic baritone Teddy Tahu Rhodes has bought a residential warehouse conversion in Collingwood.
He's paid $1,983,750 for the two storey Byron Street property.
The <a href="https://www.realestate.com.au/sold/property-townhouse-vic-collingwood-125491198" target="_blank">creative space</a> filled with art and office furniture in the listing photos features high industrial ceilings and polished concrete and timber floors.
Jellis Craig Fitzroy recently sold the property after having $1.7 million to $1.85 million hopes
<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/2017/10/23/TittleTattle2.jpg" alt="">
The New Zealand born operatic baritone won the Mobil Song Quest to secure funding to study at the Guildhall School of Music and Drama in London.
By 2004 he received an ARIA award then four years later he won a Helpmann Award for Best Male Performer in an Opera for his role in Dead Man Walking.
This article first appeared in The Weekend Australian.
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Teddy Tahu Rhodes snaps up Collingwood warehouse conversion

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The 7 Byron Street, Moonee Ponds offering, a coveted Poet’s Corner address attracted five bidders at its weekend auction.
The unrenovated Federation Queen Anne-style house was offered by Jellis Craig Kensington’s John Morello who secured $2.05 million.
He said <a href="https://www.realestate.com.au/property-house-vic-moonee+ponds-126503094" target="_blank">the four-bedroom home</a> fetched $270,000 more than its reserve.
He said the family that bought the house would likely need to spend another $350,000 to $650,000 renovating.
The house easily sailed past its quoted price guidance of $1.65 million to $1.75 million, announced on the market at $1.78 million.
“There’s a strong heritage overlay (in Poet’s Corner), so you’re not going to see development taking place,” he told The Herald Sun.
The property had been with the same family since the 1960s.
Saturday was only the second time it had been sold in 103 years.
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Poet's Corner, Moonee Ponds auction sale

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A one-bedroom Mosman Park apartment has been sold by mortgagees at $229,000.
<a href="https://www.realestate.com.au/sold/property-house-wa-mosman+park-125571130" target="_blank">The Dover Court apartment</a> opens out onto a spacious walled outdoor area with a gateway to the outdoor parking area. 
The complex comes with communal swimming pool and BBQ area.
Another one bedroom 42 sqm apartment in the 1969 complex sold for $180,000 recently have sold at $245,000 ten years ago.
<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/2017/10/23/MosmanPark.jpg" alt="">
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Mosman Park apartment sold off by mortgagee 

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<div class="cq-article-content-paras section">
Developer Dyldam launched its South Quarter project – the former Auto Alley – on the weekend.
Some 100 of the 200 apartments sold.
</div>
<div class="cq-article-content-media section">The developer said it was pleased with the results, especially with the high 30 per cent rate of first home buyers and local interest.</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">The average sale price was $750,000.</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">The plans for the South Quarter of the Auto Alley, Church Street, were unveiled as a $876 million residential mixed-use project on the former Holden car yard on 57, 63 and 83 Church Street.</div>
<div class="cq-article-content-media section">
It is set to become the 1.4-hectare "South Quarter" precinct, with five residential and commercial buildings as well as an internationally branded hotel.
Dyldam confirmed there would be more than 750 apartments along with 40,000 square metres of retail and commercial space.
The buildings will range between 10 and 42 storeys, set around 450 metres from the Parramatta Rail and Bus Interchange.
<div class="article__content">
<div class="parsys parsys-article-content-top">
<div class="cq-article-content-media section"><img class="lazy620x0" src="https://www.afr.com/content/dam/images/g/y/7/7/7/x/image.imgtype.afrArticleInline.620x0.png/1504068599574.jpg" alt="Artist impression of South Quarter of a planned development of Auto Alley on 57, 63 and 83 Church Street, Parramatta." width="620" data-src="https://www.afr.com/content/dam/images/g/y/7/7/7/x/image.imgtype.afrArticleInline.620x0.png/1504068599574.jpg"></div>
<div class="cq-article-content-media section"> </div>
<div class="related-quotes section">The plans for the South Quarter of the Auto Alley, Church Street, Parramatta by developer Dyldam have been unveiled.</div>
<div class="related-quotes section">
It is a $876 million residential mixed-use project on the former Holden car yard on 57, 63 and 83 Church Street.
It is set to become the 1.4-hectare "South Quarter" precinct, with five residential and commercial buildings as well as an internationally branded hotel.
Dyldam confirmed there would be more than 750 apartments along with 40,000 square metres of retail and commercial space.
The buildings will range between 10 and 42 storeys, set around 450 metres from the Parramatta Rail and Bus Interchange.
<div class="article__content">
<div class="parsys parsys-article-content-top">
<div class="cq-article-content-media section"><img class="lazy620x0" src="https://www.afr.com/content/dam/images/g/y/7/7/7/x/image.imgtype.afrArticleInline.620x0.png/1504068599574.jpg" alt="Artist impression of South Quarter of a planned development of Auto Alley on 57, 63 and 83 Church Street, Parramatta." width="620" data-src="https://www.afr.com/content/dam/images/g/y/7/7/7/x/image.imgtype.afrArticleInline.620x0.png/1504068599574.jpg"></div>
<div class="cq-article-content-media section"> </div>
<div class="related-quotes section">Construction completion for the first residents in South Quarter is 2022, he said.</div>
<div class="cq-article-content-paras section">
Dyldam beat contenders including AV Jennings for the coveted site in 2015 with the City West Joint Regional Planning Panel approving the site masterplan in 2016 with its Allen Jack+Cottier design.
</div>
</div>
</div>
</div>
</div>
</div>
</div>
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Dyldam sees the boost in FHB numbers in weekend Parramatta launch

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<div class="cq-article-content-paras section">
Australia's national house price growth is likely to be flat - or possibly in low single digits - for the several years, according to UBS.
The latest UBS report, 'Get rich or borrow trying', warns that even small changes to credit conditions, such as a drop in availability of investor-only loans which have been targeted by the bank regulator, will "materially impact" house price growth.
According to UBS households are much more sensitive to tightening financial conditions from higher mortgage rates and the lagged impact of macroprudential measures than many realise.
</div>
<div class="cq-article-content-media section">House price growth should moderate to around 7 per cent in 2017 and to between 0 per cent to 3 per cent in 2018, according to UBS economists George Tharenou and Carlos Cacho.</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">But the “forever boom” is ending, UBS clients were told, according to The Australian.</div>
<div class="cq-article-content-media section"> </div>
<div class="related-quotes section">"We would still characterise our outlook as a 'soft landing', given we still don't expect a sudden collapse in prices," they wrote in a report on Fairfax Media.</div>
"But it does seem likely that Australia faces a prolonged multi-year period of flat or low single digit nominal price growth." 
Signs of a slowdown in house price are fast-emerging. House prices in Sydney fell 0.1 per cent over September, the first fall since late 2015, on Corelogic figures and 1.9 per cent, on Domain figures.
Veteran analyst Louis Christopher is predicting sedate house price growth in Sydney of between 4 per cent to 8 per cent in 2018 if the cash rate and economy remains unchanged. 
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Australian property prices headed for "prolonged" flat period: UBS 

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The billionaire developer, Harry Triguboff, says unit sites have come down by about 10 per cent in price.
His Meriton Group has purchased a $25 million property at <a href="https://www.realestate.com.au/property/133-oriordan-st-mascot-nsw-2020" target="_blank">133 O’Riordan St, Mascot</a> near one of his other projects.
The site has been approved for a 99-unit development.
The purchase follows Meriton’s $245 million recent acquisition of an 11ha site near La Perouse in Sydney’s eastern suburbs.
“Unit sites have come down by about 10 per cent (in price),” Mr Triguboff told The Australian with the latest buy equating to about $2700 a sqm of gross floor area.
Sites could be purchased with approvals in place, so building could start quickly, he said.
Mr Triguboff noted the apartment boom had also attracted inexperienced developers to the market, who were now finding it tougher to get projects off the ground.
Earlier this month Mr Triguboff said he had cut his apartment prices by 5 percent.
the apartment market was worsening and would have a severe impact on the economy if it was not arrested.
While first-home buyers returned to the housing market after July on the back of state government grants, Mr Triguboff said this would not replace the loss of offshore and local investors and would result in less long-term rental stock being built. 
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Harry Triguboff adds another Mascot apartment project to his portfolio

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A one bedroom Nelson Bay apartment has been listed by the mortgagee.
<a href="https://www.realestate.com.au/property-unit-nsw-nelson+bay-126705214" target="_blank">The 13/19 Church Street offering</a> last traded at $330,000 in 2014.
Set on the fringe of the Nelson Bay CBD, the modern one bedroom apartment offers open plan living space.
The complex enjoys secure lift access and swimming pool, is close to shops, restaurants, beaches, golf club, transport and marina.
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One bedroom Nelson Bay mortgagee offering

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Rental yields for new apartments in Adelaide City, or the innermost locality of Greater Adelaide,  are beating Melbourne and Sydney, according to the latest Urbis Intelligence Report.
Adelaide City has a unit rental yield of 5.4 per cent, which is 0.9 per cent higher than Metropolitan Adelaide’s average of 4.5 per cent.
Metropolitan Sydney has an average gross yield 3.8 per cent while Metropolitan Melbourne has 4.1 per cent gross yield, according to data sourced from APM PriceFinder.
“Adelaide is very affordable compared to other Australian cities and the yields are also outpacing their eastern seaboard counterparts,” said Alex Stuart, associate director at Urbis.
Stuart added that Adelaide’s CBD apartment market was booming with buyers cashing in on the boom times.
Both owner occupiers and investors are active, with West Franklin witnessing multiple purchases.
The first stage of West Franklin is located on the corner of Elizabeth and Franklin Streets and has 271 apartments spread across two towers of 20 and 18 storeys each.
The project is also close to the bio-medical precinct, China Town and Central Markets, which would mean strong rental demand.
APM PriceFinder’s data also shows that Adelaide City’s new apartment products are attracting significantly higher weekly rental rates.  
The median weekly rental rate for new one and two bedroom apartments are higher than existing apartments.
For a one-bedroom unit, the median weekly rental rate is $380 per week, which is 21 per cent higher than an existing one bedroom apartment ($315).
Similarly, new two-bedroom apartments have a median rental of $460, well above the $430 for existing apartments.
“Over the past five years, the new apartment market in Adelaide has been strong with population growth having helped underpin demand in the inner city,” Stuart added, pointing to a trend towards higher density living. 
Jobs are increasingly located in the city centre which is where professionals like to live.
Residential facilities in the podium area, adjoining the two towers include a wet edged pool, gym, a landscaped barbecue area exclusive cinema and shared library/office.
The north tower’s level 20 boasts a roof top terrace and bar, indoor/outdoor seating and fireplace for residents.
Construction is underway with Stage one due to be completed early 2019.
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New apartments in Adelaide CBD area fetch higher rental yields than Sydney, Melbourne

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Beaconsfield is the fastest selling Sydney locality to sell units, according to Investar’s latest report.
The property data firm says that units in Beaconsfield stay on the market for 26 days before being sold.
This is followed by Fairlight with 41 days and Clovelly with 50 days.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="76">
Suburb
</td>
<td valign="top" width="57">
Postcode
</td>
<td valign="top" width="78">
Bedrooms
</td>
<td valign="top" width="92">
Days on market
</td>
<td valign="top" width="122">
Current median price
</td>
</tr>
<tr>
<td valign="top" width="76">
Beaconsfield
</td>
<td valign="top" width="57">
2015
</td>
<td valign="top" width="78">
2
</td>
<td valign="top" width="92">
26
</td>
<td valign="top" width="122">
$850,000
</td>
</tr>
<tr>
<td valign="top" width="76">
Fairlight
</td>
<td valign="top" width="57">
2094
</td>
<td valign="top" width="78">
2
</td>
<td valign="top" width="92">
41
</td>
<td valign="top" width="122">
$950,000
</td>
</tr>
<tr>
<td valign="top" width="76">
Clovelly
</td>
<td valign="top" width="57">
2031
</td>
<td valign="top" width="78">
2
</td>
<td valign="top" width="92">
50
</td>
<td valign="top" width="122">
$1,180,000
</td>
</tr>
<tr>
<td valign="top" width="76">
Balgowlah
</td>
<td valign="top" width="57">
2093
</td>
<td valign="top" width="78">
2
</td>
<td valign="top" width="92">
51
</td>
<td valign="top" width="122">
$795,000
</td>
</tr>
<tr>
<td valign="top" width="76">
Manly
</td>
<td valign="top" width="57">
2095
</td>
<td valign="top" width="78">
Studio and 1
</td>
<td valign="top" width="92">
52
</td>
<td valign="top" width="122">
$765,000
</td>
</tr>
</tbody></table>
A one-bedroom unit at <a href="https://www.realestate.com.au/sold/property-apartment-nsw-beaconsfield-126082822" target="_blank">2/22 Victoria Street</a>, Beaconsfield (above) was recently sold for $595,000 after spending 25 days on the market.
Previously, it sold for $384,000 in 2012, according to CoreLogic RP Data.
A two bedroom unit at <a href="https://www.realestate.com.au/sold/property-apartment-nsw-erskineville-126174018" target="_blank">87/20 Eve Street</a>, Erskinville (below) was recently sold for $1.015 million after spending 20 days on the market.
It last sold in 2008 for $620,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/15/87_20%20Eve%20Street.jpg" alt="">
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Beaconsfield is Sydney's fastest selling unit locality: Investar

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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