<html><body>
The publicly listed ALE Property Group (ALE) is seeking to sell the Berwick Inn Hotel.
It is leased to Australian Leisure &amp; Hospitality Group (ALH), which is 75% owned by Woolworths and is the largest operator of pubs in the country.
It holds the lease until November 2028, with four further 10-year options to extend to 2068.
The two-storey venue is located on a prominent 4,166 square metre site and comprises a bar, bistro, beer garden and gaming facilities as well as a large 50 space on-grade carpark. 
CBRE agents Daniel Dragicevich, Scott Callow and Justin Dowers have been appointed to sell the property via tender.
"Typically, hotels with the blue chip tenant covenant of ALH trade at between 100-150 basis points sharper than those with private tenants," Dragicevich said.
"ALH leased properties have actually been in very short supply in recent times, so a keenly fought sales campaign is expected."
The Melbourne pub listing marks the first property ALE has put to the since its 17 venue sell down in 2009-2010.
</body></html>

j.ballantyne1990-6AQqhLzZaK

ALE Property Group list Berwick Inn Hotel

<html><body>
A South Melbourne icon, the Water Rat Hotel, is being offered for sale with offers due 2 November. 
Built in 1858, the popular venue located at 256 Moray Street was previously named Druids Hotel and also the Freemason’s Hotel.
The venue has a rich history, being the location of the 1973 murder of Painters and Docker Union secretary Pat Shannon. 
The 513 square metre venue underwent major renovations and opened as the Water Rat Hotel in 1991, where it was one of the first hotels in South Melbourne to introduce outdoor seating. 
The venue was expected to fetch a price in the high $3 million range.
It had no pokies.
Its present owner bought the hotel four years ago and the liquor licence is managed by a private company.
CBRE’s Justin Dowers, Will Connolly and Tim Last, conjunctionally with Burgess Rawson’s Terry Board and Nicholas Breheny, have been appointed to market the property. 
The Water Rat Hotel is being marketed as providing potential for investors, developers and future owner occupiers. 
Located on a 314 square metre site, the Water Rat Hotel is a two-storey venue comprising an outdoor seating area, rooftop terrace, two separate bar areas and function space on the first floor.
With frontages to Park and Moray streets, the property benefits from a position within walking distance to the Clarendon Street retail precinct. 
South Melbourne has the third highest rate per square metre for residential property in Melbourne, sitting closely behind Middle Park and Albert Park, with a rate per square metre of $10,809/square metre and a median house price of $1,700,000, CBRE says.
</body></html>

South Melbourne's iconic Water Rat Hotel listed

<html><body>
A three bedroom Bulimba house has sold for $1,885,000.
Located at <a href="https://www.realestate.com.au/property-house-qld-bulimba-126229074" target="_blank">11 Pine Street</a>, the 835 square metre property is suitable for development.
It features a frontage of 15 metres with the allotment’s removable post-war home 70 metres from the Oxford Street area.
<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/2017/09/17/11%20Pine%20Street-2.jpg" alt="">
It is a zoned LMR (two or three storey mix) and suitable for constructing multiple luxury apartments or townhouses.
The property is four kilometres from the CBD and public transport is nearby.
Oxford Street features a Woolworths supermarket and fitness centre, while parkland is also nearby.
The property was offered through Ray White agent Jose Peralta.
</body></html>

Three bedroom Bulimba house sold for $1,885,000

<html><body><div class="page" title="Page 37">
<div class="section">
<div class="layoutArea">
<div class="column">
The major centres throughout the South West have seen sales volumes continue to remain relatively stable, however the residential market within WA rural residential localities and inland townships have continued to soften.
The valuation firm, Herron Todd White suggests the swings of the Perth market during the past several years have been missed in the South West which was still benefiting from a strong population growth.
"People in general want to live here, employment permitted, as the region is characterised by pristine beaches, surf and its world renowned wine region.
<div class="page" title="Page 38">
<div class="section">
<div class="layoutArea">
<div class="column">
Entry points into the lower end of the market range from $250,000 to $400,000.
"For this amount you can purchase either a basic established residence or build a project home in one of the outlying new developments," the recent report advised.
A three-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-wa-dunsborough-124366038" target="_blank">4 Ashbrook Green, Dunsborough</a> (picture above) has sold for $365,000 through Michael Mort of JMW Real Estate.
"These established homes are in general located in closer proximity to the beach than the new developments and as such the established homes generally offer better capital growth potential while the new housing market offers better yields.
It noted the lower market segment is generally being driven by first home buyers and also investors. 
"The stable condition of the lower market segment consequently has a ow on effect into the middle market as vendors of the lower market segment are looking in effect to trade up.
"It is generally the mums and dads that are active in this space as they are looking to upgrade the family home.
"Currently this market segment is offering good value for money. 
"This market segment is considered to be stable, however we note that it is not performing as well as the lower market segment."
</div>
<div class="column">
The higher price range was resulting in fewer prospective purchasers. 
It also noted while there seems to be a healthy balance between supply and demand the selling periods are in general longer than the lower market segment. 
"Unfortunately, the upper end of the market is considerably slower than the lower and middle market segments. 
"Properties above $1 million are selling if they are priced correctly, however extended selling periods between six to 12 months are still common.
"That being said, the South West is considered to be a premium holiday destination and there is still demand from the wealthy to invest and holiday in the region.
"Therefore prestigious properties scattered throughout the South West, such as Naturaliste, Eagle Bay, Metricup and Yallingup are still regularly recording sale prices in excess of $1 million."
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div></body></html>

South West WA property entry point starts at $250,000

<html><body>
The Rockpool Dining Group is set to open his first foreign premises in Los Angeles.
The development comes ahead of leading restaurant chain Rockpool Dining Group's possible stockmarket listing, The Australian Financial Review reported.
Founded by celebrity chef Neil Perry, who last year sold the Rockpool empire to private equity-backed Urban Purveyor Group, the restaurant group has secured a site not far from Melrose Avenue in West Hollywood. 
Rockpool's previous plans for foreign site -- Spice Temple Dubai -- fell through in 2014.
The top chef’s two new Sydney restaurants, the Jade Temple at 11 Bridge Street and Rosetta at Grosvenor Square (picture above), were hatted at the recent Good Food guide gongs.
Rockpool Dining Group had recently announced it was bringing the much-loved Melbourne Italian restaurant, Rosetta Ristorante, with menus by chef Neil Perry, as part of Grosvenor Place’s $20 million piazza redevelopment.
There has been talk of a trade sale by Quadrant Private Equity, the AFR speculates.
Last November in a game changing move for the Australian hospitality industry, Quadrant Private Equity backed Urban Purveyor Group and Rockpool Group combined forces to create a multi-concept, dining and entertainment powerhouse, Rockpool Dining Group.
The move firmly establishes Rockpool Dining Group as the most dominant player in the Australian hospitality industry, with annualised revenues in excess of $350 million.
Rockpool Dining Group’s portfolio includes 47 venues, 15 dining brands, and over 3000 employees across four states. 
Rockpool signalled it plans expand to more than 80 venues by the end of CY 2017, including the group’s first venues in London.
</body></html>

Rockpool plans first foreign premises in Los Angeles

<html><body>
Treasury secretary John Fraser has welcomed the cooling off in the country's biggest housing markets. 
After "rapid" growth in Sydney and Melbourne prices in recent years, Fraser said the market appeared to be slowing.
He told the Citi investment conference they were the early signs the curbs on riskier bank lending were doing their job.
There were also signs homebuyers were responding by moving to lower-priced cities and regional centres.
Fraser acknowledged the build-up in household debt had accompanied strong house price growth in recent years, but signalled he was not "too alarmed" by the trend.
"It's good to see some of the recent moderation in house price growth, and while it's too soon to make a final assessment of the impact of APRA's March 2017 macroprudential measures, the signs at the moment are promising," Mr Fraser said at Citi's investment conference in Sydney.
When asked is he still held the <a href="https://www.smh.com.au/business/the-economy/treasury-boss-john-fraser-fears-about-investment-in-housing-points-to-home-renovation-shows-20150601-ghdx0t">view that Sydney housing was in a "bubble"</a>, as he said two years ago, Mr Fraser referred to "welcome signs of slowing" in the market.
He also emphasised the very different market conditions across the regions, with signs Western Australia's market might be starting to recover after a sharp slump triggered by the mining bust."These things are cycles, and we are perhaps starting to see that cycle playing out," Mr Fraser said.
Fairfax Media reported Fraser also referred to strong growth in the population in regional centres such as Bathurst, Geelong, Dubbo and Ballarat, saying people were responding to the very high cost of housing by moving outside the largest cities.
"I'm getting the feeling that a lot of people are now starting to react to some of the high house prices in the east coast capital cities by thinking about relocating to other capital cities or regional centres," he said.
 
</body></html>

The housing shift to cheaper cities is happening: John Fraser

<html><body>
The RBA October meeting noted the most recent information about conditions in the established housing market suggested that growth in housing prices had eased from the previously brisk pace in some cities, most notably Sydney, and had remained soft in some others.
Housing debt had been outpacing the slow growth in household incomes for some time, it noted.
"Recently, growth in credit to investors in housing had eased a little, although overall growth in household credit had been little changed," the October minutes suggested.
Members discussed the importance of continuing to assess the various risks in household balance sheets.
Taking account of the available information, the Board judged that holding the stance of monetary policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time.
The board noted there had been a pick-up in household consumption growth in the June quarter despite ongoing weakness in household disposable income growth.
Members noted that consumption growth had increased in most states, although it had remained noticeably weaker in Western Australia than in the eastern states, consistent with weaker income growth in that state.
Recent strong growth in employment across all the states was expected to support income growth, and therefore consumption growth, in the period ahead.
Members observed that residential construction appeared to have plateaued, with dwelling investment largely unchanged in the June quarter.
The pipeline of work already approved or under way was expected to continue supporting dwelling investment around current levels over the subsequent year or so; the peak of apartment completions was expected to occur during this period.
At the current level of dwelling investment, growth of the housing stock was expected to outstrip that of the population, as it had done in the preceding few years.
Established housing market conditions had continued to ease in Sydney and Melbourne, but had been broadly unchanged in other cities.
This pattern was evident in revised housing price data released by CoreLogic in September, as well as in auction clearance rates.
Housing prices had continued to decline gradually in Perth. Nationwide measures of housing prices had increased by around 9 per cent over the year to September.
</body></html>

RBA housing debt outpacing the slow growth in household incomes: RBA

<html><body><div class="cq-article-content-paras section">
Despite the surge in prices in Sydney and Melbourne and the high indebtedness of Australian households, Aberdeen Asset Management said there was no housing bubble.
They initially said there was no housing bubble in 2015 and re-affirmed this view in a new research paper.
It was written by its Asia Pacific head of property research, Milan Khatri.
<div>
"We don't believe that the Australian housing market is in a bubble, " Mr Khatri wrote.
"The usual features of bubble-type behaviour such as broad synchronisation of price gains across a country, lax bank lending policies, reduced scrutiny of end-buyers, and indiscriminate investor buying, mostly appear missing.
</div>
<div>"Moreover, while housing supply is high by historic standards it is far from being excessive, and appears to have already peaked.</div>
<div> </div>
<div>"Certainly there may be pockets of the market where the dangers of oversupply are a real threat – such as CBD apartments – but any weakness is likely to be short-term in nature as new supply eventually falls back," he said.</div>
<div> </div>
<div>However Aberdeen does view house prices as being broadly overvalued close to 10 per cent with "low interest rates no doubt help[ing] to support current valuations".</div>
<div>
The Fairfax Media report noted Khatri said Aberdeen did not believe the Australian market was overheated in the same way that markets like the US, Ireland and Spain were prior to the global financial crisis.
</div>
<div>
Among the features that differentiated it from these markets were measures by authorities to prevent excessive lending on "loose terms"  through the restriction of high-risk loans like interest-only loans and reducing the pace of growth in investor lending to 10 per cent per annum.
He added that big price gains in Sydney and Melbourne reflected housing demand running ahead of supply while in other markets where price growth has been less pronounced supply and demand have been more in balance "with the exception of Brisbane".
</div>
<div class="cq-article-content-media section"> </div>
</div></body></html>

Pockets of dangerous oversupply, but no housing bubble: Aberdeen

Perth house prices still in gradual decline: October 2017 RBA minutes

<html><body>
GUEST OBSERVER
Urban greening projects in Melbourne’s west are contributing to making the region cooler, more pleasant and healthier to live in and travel through. The key to this success is the Greening the West initiative. Since 2011 this has brought together 23 organisations that, by the end of 2018, will have collectively planted more than 1 million trees in Melbourne’s west.
The program’s efforts not only offer clear health and economic benefits for the region’s residents, but are also welcome news in the face of reports that tree canopy cover in Australian cities is generally declining.
Our recent report on Greening the West has found that, while it is a great success, much more work is needed – particularly from the Victorian government.
What is Greening the West?
Urban greening provides a variety of economic, mental and physical health benefits to the public. Greening an area can increase house prices, encourage walking and cycling, and make people feel happier.
Measures of socioeconomic and health status are generally poorer in Melbourne’s west. Compounding this disadvantage, the region has less quality green space than metropolitan averages. Melbourne’s western suburbs have tree canopy coverage of only 5% to 10%, compared to between 10% and 30% in the rest of the city’s suburbs.
<img src="https://images.theconversation.com/files/189906/original/file-20171012-9839-jfsglk.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Comparative levels of tree canopy cover (% of total area) in Melbourne’s local government areas. Where are all the trees?, Author provided
City West Water began the Greening the West initiative in 2011. The focus was on the local government areas of Brimbank, Hobsons Bay, Maribyrnong, Melton, Moonee Valley and Wyndham. As well as local councils, the steering committee includes community groups, water utilities, state government agencies and a variety of other actors.
An urban greening success story
Planted trees have made a clear difference to Melbourne’s west, where many of the trees can be seen from roads, train lines and houses. This visible difference, and its associated benefits, will become more apparent as trees grow to maturity.
The group obtained A$5 million in funding from the federal government’s 20 Million Trees Program. Trees were then planted in parks, waterway corridors, drainage reserves and peri-urban land.
The Greening the West group supports two other important ongoing liveability projects in Melbourne’s west:
<ul>
<li>
transforming a 1.2 kilometre section of Upper Stony Creek back from a concreted channel into a green waterway
</li>
<li>
transforming 27 kilometres of the heritage-listed main outfall sewer into a linear park and bike track connecting Werribee to the CBD, known as Greening the Pipeline.
</li>
</ul>
As part of the latter project, a 100-metre pilot at Williams Landing was finished in April 2017. Melbourne Water delivered the project in partnership with Wyndham City Council, City West Water and VicRoads, with funding from the Victorian government.
A final Greening the West success is the way it has shifted priorities and cultures, with local government and other stakeholders increasingly recognising the benefits of greening.
The program shows the power of a collaborative model for solving complex urban problems. Such models could not only be rolled out for greening similar regions, like western Sydney, but are also applicable to other complex urban issues such as homelessness.
Planting and greening projects on public land are not enough
It isn’t all good news, however. We found that current efforts to achieve urban greening in Melbourne’s west are unlikely to be enough to reach desirable greening levels.
Most of these efforts are focused on greening public or semi-public land. However, in many areas, the majority of existing trees and tree canopy cover is on private land. As urban densification occurs, these tree numbers are declining.
This is why, despite urban greening efforts, canopy cover has decreased in most areas of Australia between 2013 and 2016. To protect and enhance urban greening, the Victorian government should investigate ways to strengthen policies and planning regulations. This should be done as part of Plan Melbourne’s urban greening actions.
For instance, regulations could require large-scale developers to include trees in new housing lots, parks and streets. Regulations could also be used to ensure small-scale subdividers and renovators include trees on lots.
Current Victorian planning regulations require a certain proportion of public open space in new suburbs, and for housing lots in certain zones to include 25-35% garden area. There is also some guidance on retaining existing trees on lots.
However, there are no state or citywide regulations requiring the planting of new trees and vegetation. This creates a significant risk in new developments that the lots, streets and public open space will have very low tree cover.
A small number of councils, such as Brimbank City Council, have led the way by creating local planning controls that require housing lots to have two trees in the front garden and one in the back garden. This is done through the planning permit process. But statewide or citywide regulations supported by the Victorian government are needed to ensure the protection and enhancement of urban greenery across Melbourne.
In addition, more community education and engagement are required to increase awareness of the many benefits of urban greening.
Casey Furlong is a postdoctoral research fellow at the Centre for Urban Research, RMIT University; Jago Dodson is professor of urban policy and director at the Centre for Urban Research, RMIT University; and Kath Phelan is research fellow at the Centre for Urban Research, RMIT University.
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/how-melbournes-west-was-greened-84700" target="_blank">original article</a>.
</body></html>

How Melbourne's west was greened: RMIT

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

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News