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The asking price of Garden Island, near the historic village of Carrington at Port Stephens, has been cut by its carpet warehouse sellers Wendy and Ken Derry.
It now comes with a $2.75 million price guidance through McGrath Terrigal agent Adrian Culpin, having been listed with $6 million hopes in 2012.
The couple paid $480,000 for the mostly overgrown 1.4 hectare island in 2001 and then commissioned award winning architect Philip Pratt to design the home.
His brief was to create a home with a mix of Australian rural architecture and Japanese Modular design.
<img src="https://www.urban.com.au/images/2017/10/18/1%20Garden%20Island%20North%20Arm%20Cove.jpeg" alt="">
The three bedroom home, about 950 metres to the shore, features separate pavilions with Colourbond steel external walling and roofing.
The property comes furnished and complete with buggy, boat and car.
The island was held by the pioneering White family after the Australian Agricultural Company disposed of some land holdings in the 1880s.
The deeds to the island show the island was bought by Dribold White from the AA Company in 1885 for £30.
It is among around 20 island in the Port Stephens area, however it is the only one that can be built on.
Garden Island had $4 million hopes when listed in April.
This article first appeared in The Sunday Telegraph.
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j.ballantyne1990-6AQqhLzZaK

Garden Island asking price slashed by half since prior listing

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Mortgagees are offering a one bedroom Kensington apartment in Melbourne's inner city fringe at $380,000 after a failed weekend auction marketing campaign.
It had been scheduled for 14 October auction but passed in without any formal price disclosure.
The comparable sales for 602/255 Racehorse Road were offered as:
<table border="1" cellpadding="0"><tbody>
<tr>
<td>
503/ 255 Racecourse Road
</td>
<td>
$385,000
</td>
<td>
25/5/17
</td>
</tr>
<tr>
<td>
2. 7/ 11 Smith Street
</td>
<td>
$370,000
</td>
<td>
17/6/17
</td>
</tr>
<tr>
<td>
3. 10/ 7-9 Rankins Road
</td>
<td>
$385,000
</td>
<td>
27/5/17
</td>
</tr>
</tbody></table>
<a href="https://www.realestate.com.au/property-apartment-vic-kensington-126422370" target="_blank">The Racehorse Road listing</a> is on the top floor of the Newmarket with basement parking.
Another top floor apartment, but two bedrooms, fetched $630,000 at auction earlier this year.
The 54 square metre apartment complex is perfect for either an owner occupier or astute investor, the Barry Plan listing agent, Eugene Louey suggests. 
It was listed as a $350 a week rental earlier this year.
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Mortgagee auction at Racehorse Road, Kensington failed to return a winner

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Meriton has been cutting its apartment prices and covering the stamp duty costs for buyers.
Its founder Harry Triguboff has advised he's been cutting prices by five per cent and covering the additional stamp duty costs for buyers of its apartments over the past year.
Triguboff says its had cost about 10 per cent of Meriton's $1.2 billion turnover.
"It may be too early to say," Mr Triguboff told The Australian Financial Review. "But if you take a turnover of $1.2 billion, then you take 10 per cent, it will cost $120 million."
Australia's fifth-largest developer had saved some revenue – about 2 per cent – by selling directly overseas and cutting out the sales agents.
Meriton has also spent about $300 million – up from the $200 million Mr Triguboff said in May he had lent – to finance predominantly Chinese buyers struggling to complete settlements
Last month, the HIA-Colorbond Steel Housing 100 annual ranking put Meriton in firth spot, down from third place the prior year with a total 2955 housing starts.  
<div class="cq-article-content-media section"> </div>
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Harry Triguboff says he's cut apartment prices by 5 percent

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In Canberra, 74.5% of the 47 reported weekend auction results were sold, lower than last year when there was a 82.8%. 
Canberra prices ranged between $243,000 at Watson and $1.7 million at Red Hill.
The two bedroom 58 square metre 1970s unit at <a href="https://www.realestate.com.au/sold/property-unit-act-watson-126418694" target="_blank">5/156 Knox Street</a> last sold at $88,000 in August 1994.
The <a href="https://www.realestate.com.au/property-house-act-red+hill-126473366" target="_blank">25 Fortitude Street, Red Hill</a> offering was a four bedroom two level home designed in 2003 by Collins Caddaye Architects which sold through Peter Blackshaw agent Mario Sanfranceso.
It last sold at $1.2 million in 2011.
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Collins Caddaye-designed Red Hill trophy home Canberra's top weekend sale

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Australian housing prices have surged by a massive 6,556% since 1961 — an average increase of 8.1% every year, the Switzerland-based Bank of International Settlements (BIS) has calculated.
The BIS authors analysed "upswings" and "downswings" across 47 countries.
"The upswings lasted on average 13 years; with the longest one, in Australia, still continuing after half a century," the BIS authors wrote.
The longest downswing was experienced by Japan, for a period of 13 years.
From 1961 to 2016, the report says Australian house prices have grown by an average of 8.1% a year, in "real" or inflation-adjusted terms.
It was done as part of a paper exploring how interest rates affect the price of real estate.
Compared to other advanced economies in the past five decades, Australia had the sixth highest rise in annual property prices.
It was beaten by Spain (+9.9%), UK (+9.3%), New Zealand (+8.8%), Italy (+8.8%) and Ireland (8.7%).
Recently, a $570,000 sale took place at <a href="https://www.realestate.com.au/sold/property-apartment-nsw-burwood-126492282" target="_blank">9/189 Liverpool Road, Enfield</a>. 
The ordinary apartment complex, Lindsay Gardens, was the world’s first ever strata-titled building when sold off in 1961.
The apartment first sold at £5200, which equates roughly to $10,400.
It's ensuing price growth reflected 7.5% annual gains.
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7.5% annual growth since 1961 sale at Enfield

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Mortgagees in possession have sold a Mascot apartment for $722,000.
It was a modern one bedroom apartment with parking.
It was sold by One Agency agent Guy Buzzing, who gave a $670,000 to $720,000 price guidance.
It was located in the <a href="https://www.realestate.com.au/sold/property-apartment-nsw-mascot-126347094" target="_blank">Rina complex </a>on Church Avenue.
The apartment was 117 square metres including balcony, car space and storage cage.
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Mortgagees sell one bedroom Mascot apartment for $722,000

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Sydney is the most attractive Australian market for investment into the student accommodation sector, according to Savills.
The total development pipeline in Sydney for student accommodation has increased to 5,435 beds in 2017 from 3,665 beds in 2016, according to the recent Student Accommodation Market Report from Savills.
The supply and demand imbalance, world class universities and status as a global city are the main factors that are driving student accommodation in the Harbour City. 
However, there are significant barriers to entry, the report notes. 
The value of land associated with competing land uses, primarily residential in CBD fringe locations, continues to be an issue for private sector developers. 
This has led to developers seeking locations outside of the CBD, primarily around transport hubs. The University of Sydney continues to be a significant participant within the Sydney market, with several new developments proposed. 
The most significant purpose-built student accommodation (PBSA) completed this year has been Urbanest (picture above), delivering the first stage of their accommodation within the Darling Square precinct comprising 634 beds. 
Their second stage of that project comprising 664 beds is programmed for completion during 2018. This will be the first off-campus fully catered accommodation available to the market. 
<a href="https://www.propertyobserver.com.au/images/2017/10/16/SydStudent1.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/10/16/SydStudent1.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/10/16/SydStudent2.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/10/16/SydStudent2.png" alt="">
Analysis of the development pipeline by room type indicates that approximately 30% of the new accommodation will be provided in the most expensive form of accommodation, which is self-contained studios. 
The remaining accommodation will be provided in shared apartments, with approximately 34% of the pipeline in dormitory style rooms which is primarily influenced by the University developments.
“The affordability of student rents influencing the financial viability of delivering new accommodation will continue to be a critical issue for the Sydney market throughout the next 12 months,” says the report.
“Delivering new student accommodation within mixed use developments, such as Central Park and Darling Harbour will, in our opinion, be the main source of new opportunities in Central Sydney.”
Read the report <a href="https://www.savills.com.au/services-and-sectors/student-accommodation.aspx" target="_blank">here</a>.
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Sydney most attractive for investing into student accommodation: Savills

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There were 170 Brisbane homes taken to weekend auction with a 50 percent preliminary clearance rate, higher than one year ago, when 44.9 per cent of the 151 properties taken to auction were successful.
The nation's cheapest sale was at <a href="https://www.realestate.com.au/property-house-qld-regency+downs-126373750" target="_blank">27 Kingfisher Ct, Regency Downs</a>, west of Brisbane which sold for $235,000 in a mortgagee sale.
The three bedroom home on 4357 sqm had sold at $307,500 in 2010 and $265,000 in 2007.
It was initially offered for sale in 2015 with $380,000 hopes with the price expectations adjusted over the past two years.
 
 
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Regency Downs mortgagee sale at less than a decade ago

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The Southern Highlands weekender Wattle Ridge owned by publisher Matt Handbury and Clare Strang has been sold for $8.25 million.
It was listed with $10 million hopes when first put up for sale back in September last year.
The Hill Top estate is on the eastern lip of the Southern Highlands, bounded on three sides by the Nattai National Park.
About half the estate retains its natural vegetation with trails through the bush to the escarpment.
There is a six-bedroom homestead, completed in 1998 in the American Georgian style by architect William Zuccon and with interior decoration by Thomas Hamel.
It is surrounded by 20ha of irrigated gardens, lakes and lawn. The grounds come with an all-weather tennis court, heated pool, dressage arena with two stables and a three-bedroom cottage for guest accommodation.
As a working farm its is capable of carrying 50 breeding cows and horses. 
The agents who handled the sale, Meares &amp; Associates and Christies International Real Estate, said Wattle Ridge was one of the outstanding rural estates on the Southern Highlands.
 
 
 
 
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Wattle Ridge at Hill Top sold by Matt Handbury

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<div>
PUF Ventures Australia has formed an alliance with Utilities Group, a private company which operates proprietary bioHubs which turn manure, sewage, crop and food processing waste into renewable energy and bioproducts. </div>
<div> </div>
<div>The Casino bioHub project is already in early stage planning.</div>
<div> </div>
<div>
Utilitas Group is working with ASX-listed DomaCom to raise the $4.3 million needed to develop the project.</div>
<div> </div>
<div>The bioHub will transform organic waste and waste water from the <a href="https://www.domacom.com.au/public-crowdfunding-campaigns/commercial-properties/casino-biohub/" target="_blank">Richmond Valley region</a> into energy, clean water and other valuable bio-products. </div>
<div> </div>
<div>PVA has plans to construct a one million-square-foot greenhouse operation, with large scale manufacturing, processing and office facilities for the cultivation, production and manufacture of medical cannabis and associated products near the town of Casino, in the Northern Rivers region of New South Wales, Australia.  </div>
<div> </div>
<div>
Utilitas Group is developing a bioHub, near the same location which will transform organic waste and waste water from the Richmond Valley region into energy, clean water and other valuable bio-products. </div>
<div> </div>
<div>Through the alliance, PVA will have long term access to stable environmentally friendly energy, nutrients and reclaimed water generated by the Utilitas bioHub. </div>
<div> </div>
<div>“There are significant economic and environmental benefits to be gained through the alliance with Utilitas,” said Horsfall, CEO of PUF Ventures Australia.</div>
<div> </div>
<div>“The Utilitas bioHub in Casino, New South Wales, has been designed to create dispatchable renewable electricity, green natural gas, carbon dioxide (CO2), valuable nutrients and reclaimed water as part of a closed-loop resource recovery process. These are all critical inputs for a large greenhouse operation. “ </div>
<div> </div>
<div>“Together with Utilitas, we can create the world’s first closed-loop, resource recovery, medicinal cannabisfacility, utilising the huge local biomass from the agricultural and food processing industries to pioneer world-leading clean technologies.”  </div>
<div> </div>
<div>“I give high praise to the Richmond Valley Council for its proactive efforts in securing such a high value anchor tenant like PUF Ventures Australia to co-locate with the Casino bioHub,” said Fiona Waterhouse, CEO, Utilitas Group.  </div>
<div> </div>
<div>“Securing PUF Ventures to have local, affordable clean energy and nutrients to grow healthy plants andaffordable long-term price is a win for the region, community, and environment. It’s also going to create new, local employment, and reduce environmental impacts from waste and emissions.”  </div>
<div> </div>
<div>The long-term success of any licensed cannabis producer is the ability to leverage economies of scale in its grow operations and be a low-cost producer with a premium product. Those companies with state-of-the-art operations with long term access to affordable energy and nutrients, which are critical cost drivers, will be successful.  </div>
<div> </div>
<div>About Utilitas  Utilitas is on a mission to unleash the power of bioHubs to fuel industry, support networks andenergise communities by delivering 100MW of dispatchable, reliable, local electricity and other bioproducts from 100 bioHubs in 100 regional communities by 2025. </div>
<div> </div>
<div>
Utilitas originates, designs, builds and operates the bioHubs, contracting with large organic waste producers and energy consumers to treat their waste andsupply back energy (electricity, gas, fuel) and other valuable bioproducts at locked in long term prices.</div>
<div> </div>
<div>
PUF Ventures Australia PTY LTD and PUF Ventures Inc have formed a strategic partnership with the Richmond Valley Council, New South Wales, Australia, to construct a 1 million-square-foot greenhouse operation, with large scale manufacturing, processing and office facilities for the cultivation, production and manufacture of medical cannabis andassociated products in Australia. </div>
<div> </div>
<div>
PUF Ventures Inc. owns a majority interest in AAA Heidelberg Inc., a private Ontario company that is an advanced applicant for an ACMPR license from Health Canada.</div>
<div> </div>
<div>Through an exclusive joint venture agreement with Canopy Growth Corp, the Company will join CraftGrow, a collection of high-quality cannabis grown by a select and diverse set of producers, made available through the Tweed Main Street website.</div>
<div> </div>
<div>DomaCom is a <a href="https://www.domacom.com.au/public-crowdfunding-campaigns/commercial-properties/casino-biohub/" target="_blank">fractional property investment</a> platform.</div>
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Utilitas Group working with DomaCom to raise $4.3 million to develop Casino bioHub project 

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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