<html><body>
<div dir="ltr" align="left"><span dir="ltr">Sydney’s median house price decreased by 1.9 per cent to $1,167,516 over the September quarter; the steepest decline in house prices of the state's capital cities.</span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left">
<span dir="ltr"> It was the first quarterly fall in the local market since December 2015, </span>said Domain chief economist, Dr Andrew Wilson.</div>
<div dir="ltr" align="left"> </div>
<div dir="ltr" align="left">
<div dir="ltr" align="left"><span dir="ltr">“The drop in Sydney’s house prices over the September quarter reflects the diminishing impact of the record-low interest rates that have fuelled market recently.</span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">"While Sydney’s property market has been the star performer nationally – with prices essentially doubling over the last five years –  affordability barriers are now acting to slow down demand and moderate price increases.<br> </span></div>
<div dir="ltr" align="left"><span dir="ltr">“The significant decrease in investor activity, as well as tightened lending restrictions for residential investors, has had a clear impact on the Sydney market. </span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">"We saw a similar house price dip in 2015, when similar policies were introduced."</span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">Despite recording a decline in both house and unit prices, Sydney clearly remains the highest priced of all capitals, well ahead of the next-highest, Melbourne, Dr Andrew Wilson noted.</span></div>
<div dir="ltr" align="left"> </div>
<div dir="ltr" align="left">
<div dir="ltr" align="left"><span dir="ltr">Sydney unit prices also dropped - by 0.8 per cent over the quarter to $732,321, but despite the decrease, remain 4.5 per cent higher than the same time last year.<br> </span></div>
<div dir="ltr" align="left"><span dir="ltr">Median house rents in the Harbour city remained steady at $550 per week, as did median unit rents. </span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">While steady over the quarter, the results are up year-on-year by 3.8 per cent and 4.8 per cent respectively.</span></div>
<div dir="ltr" align="left">
<div id="1468469170927-5">
<div class="wpb_text_column wpb_content_element ">
<div class="wpb_wrapper">
<p class="domain-table-title">Domain quarterly stratified median house prices</p>
<div>
<table class="domain-table">
<thead><tr>
<td>HOUSE</td>
<td>SEP 2017</td>
<td>JUN 2017</td>
<td>SEP 2016</td>
<td>QOQ %</td>
<td>YOY %</td>
</tr></thead>
<tbody>
<tr>
<td>Sydney</td>
<td>$1,167,516</td>
<td>$1,190,677</td>
<td>$1,079,309</td>
<td class="negative">-1.9%</td>
<td class="positive">8.2%</td>
</tr>
<tr>
<td>Melbourne</td>
<td>$880,902</td>
<td>$869,598</td>
<td>$773,399</td>
<td class="positive">1.3%</td>
<td class="positive">13.9%</td>
</tr>
<tr>
<td>Brisbane</td>
<td>$551,840</td>
<td>$552,874</td>
<td>$531,767</td>
<td class="negative">-0.2%</td>
<td class="positive">3.8%</td>
</tr>
<tr>
<td>Adelaide</td>
<td>$519,517</td>
<td>$520,846</td>
<td>$498,971</td>
<td class="negative">-0.3%</td>
<td class="positive">4.1%</td>
</tr>
<tr>
<td>Perth</td>
<td>$554,095</td>
<td>$561,391</td>
<td>$567,314</td>
<td class="negative">-1.3%</td>
<td class="negative">-2.3%</td>
</tr>
<tr>
<td>Canberra</td>
<td>$723,980</td>
<td>$693,962</td>
<td>$655,468</td>
<td class="positive">4.3%</td>
<td class="positive">10.5%</td>
</tr>
<tr>
<td>Hobart</td>
<td>$409,592</td>
<td>$392,170</td>
<td>$356,916</td>
<td class="positive">4.4%</td>
<td class="positive">14.8%</td>
</tr>
<tr>
<td>Darwin</td>
<td>$593,329</td>
<td>$615,670</td>
<td>$610,510</td>
<td class="negative">-3.6%</td>
<td class="negative">-2.8%</td>
</tr>
<tr>
<td>National</td>
<td>$819,455</td>
<td>$823,381</td>
<td>$758,367</td>
<td class="negative">-0.5%</td>
<td class="positive">10.8%</td>
</tr>
</tbody>
</table>
</div>
</div>
</div>
</div>
</div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left">
<div dir="ltr" align="left"><span dir="ltr">The median house price in most capital cities declined over the September quarter, with the national median house price experiencing its sharpest dip in six years, according to the September quarter Domain State of the Market Report - Metro.<br> </span></div>
<div dir="ltr" align="left"><span dir="ltr">As tighter lending conditions come into play, demand for property in Sydney, Brisbane, Adelaide, Perth, and Darwin decreased over the quarter, with Sydney reporting one of the steepest declines in house prices of the capitals. </span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">Hobart, Canberra, and Melbourne were the only cities to record house price growth over the quarter.<br> </span></div>
<div dir="ltr" align="left"><span dir="ltr">Median unit prices across the country varied over the September quarter, with Hobart and Melbourne experiencing surges in unit price growth, while Brisbane, Perth, Sydney, and Darwin recorded declines in unit prices.<br> </span></div>
<div dir="ltr" align="left">
<p class="domain-table-title">Quarterly stratified median unit prices</p>
<div>
<table class="domain-table">
<thead><tr>
<td>UNIT</td>
<td>SEP 2017</td>
<td>JUN 2017</td>
<td>SEP 2016</td>
<td>QOQ %</td>
<td>YOY %</td>
</tr></thead>
<tbody>
<tr>
<td>Sydney</td>
<td>$732,321</td>
<td>$738,227</td>
<td>$700,656</td>
<td class="negative">-0.8%</td>
<td class="positive">4.5%</td>
</tr>
<tr>
<td>Melbourne</td>
<td>$<span>506,334</span>
</td>
<td>$<span>489,472</span>
</td>
<td>$<span>454,644</span>
</td>
<td class="positive">3.4%</td>
<td class="positive">11.4%</td>
</tr>
<tr>
<td>Brisbane</td>
<td>$<span>376,685</span>
</td>
<td>$<span>390,407</span>
</td>
<td>$<span>402,712</span>
</td>
<td class="negative">-3.5%</td>
<td class="negative">-6.5%</td>
</tr>
<tr>
<td>Adelaide</td>
<td>$<span>313,074</span>
</td>
<td>$<span>308,223</span>
</td>
<td>$<span>305,156</span>
</td>
<td class="positive">1.6%</td>
<td class="positive">2.6%</td>
</tr>
<tr>
<td>Perth</td>
<td>$<span>351,875</span>
</td>
<td>$<span>377,132</span>
</td>
<td>$<span>381,065</span>
</td>
<td class="negative">-6.7%</td>
<td class="negative">-7.7%</td>
</tr>
<tr>
<td>Canberra</td>
<td>$<span>427,391</span>
</td>
<td>$<span>419,451</span>
</td>
<td>$<span>429,751</span>
</td>
<td class="positive">1.9%</td>
<td class="negative">-0.5%</td>
</tr>
<tr>
<td>Hobart</td>
<td>$<span>323,174</span>
</td>
<td>$<span>304,077</span>
</td>
<td>$<span>257,214</span>
</td>
<td class="positive">6.3%</td>
<td class="positive">25.6%</td>
</tr>
<tr>
<td>Darwin</td>
<td>$<span>330,354</span>
</td>
<td>$<span>354,584</span>
</td>
<td>$<span>475,199</span>
</td>
<td class="negative">-6.8%</td>
<td class="negative">-30.5%</td>
</tr>
<tr>
<td>National</td>
<td>$<span>570,148</span>
</td>
<td>$<span>570,277</span>
</td>
<td>$<span>547,263</span>
</td>
<td>0.0%</td>
<td class="positive">4.2%</td>
</tr>
</tbody>
</table>
<p>Dr Andrew Wilson, said capital city housing markets generally tracked backward over the September quarter as the lower interest rate driver of recent years dissipated.</p>
</div>
</div>
<div dir="ltr" align="left">"Actions by policymakers to restrict residential investor activity through tighter lending conditions to that group have also acted to weaken prices growth over the last three months.”</div>
<div dir="ltr" align="left"> </div>
<div dir="ltr" align="left">
<div dir="ltr" align="left"><span dir="ltr">For investors, Hobart continues to provide the best gross rental yields for houses with 5.29 per cent recorded over the September quarter. </span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">Sydney and Melbourne continue to record the lowest gross rental yields for houses of all capital cities, sitting at 3.12 per cent and 3.34 per cent respectively.</span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">Canberra is the top performer for gross rental yields for units recording a result of 5.77 per cent over the quarter, closely followed by Darwin and Hobart at 5.65 per cent and 5.53 per cent respectively.<br> </span></div>
</div>
<span style="color: #222222; font-size: small;"><span dir="ltr"><br></span></span>
</div>
</div>
</div>
</body></html>

j.ballantyne1990-6AQqhLzZaK

Sydney house prices suffer deepest September quarter decline: Domain

<html><body>
<div dir="ltr" align="left"><span dir="ltr">The median house price in Melbourne increased 13.9 per cent year-on-year. </span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">But the rate of growth in the September quarter was the slowest for Melbourne since the September quarter 2014.</span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left">
<div dir="ltr" align="left">
<span dir="ltr">The median house price in Melbourne increased 1.3 per cent over the September quarter to $880,902, the</span> Domain Chief Economist, Dr Andrew Wilson said.</div>
<div dir="ltr" align="left">
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">Median unit prices in Melbourne grew significantly, increasing by 3.4 per cent over the September quarter to a new record high of $506,334. </span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">"This means that year-on-year, unit prices have now increased by an incredible 11.4 per cent," Dr Wilson said.</span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">"The results suggest that recent record levels of new apartment development have had a negligible impact on price, with demand continuing to absorb higher levels of supply."<br> </span></div>
<div dir="ltr" align="left"><span dir="ltr">While the median rental price for houses in Melbourne remained steady over the September quarter, sitting at $420 per week, rental prices are up 5 per cent over the last 12 months.</span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left">
<div dir="ltr" align="left">
<div id="1468469170927-5">
<div class="wpb_text_column wpb_content_element ">
<div class="wpb_wrapper">
<p class="domain-table-title">Domain quarterly stratified median house prices</p>
<div>
<table class="domain-table">
<thead><tr>
<td>HOUSE</td>
<td>SEP 2017</td>
<td>JUN 2017</td>
<td>SEP 2016</td>
<td>QOQ %</td>
<td>YOY %</td>
</tr></thead>
<tbody>
<tr>
<td>Sydney</td>
<td>$1,167,516</td>
<td>$1,190,677</td>
<td>$1,079,309</td>
<td class="negative">-1.9%</td>
<td class="positive">8.2%</td>
</tr>
<tr>
<td>Melbourne</td>
<td>$880,902</td>
<td>$869,598</td>
<td>$773,399</td>
<td class="positive">1.3%</td>
<td class="positive">13.9%</td>
</tr>
<tr>
<td>Brisbane</td>
<td>$551,840</td>
<td>$552,874</td>
<td>$531,767</td>
<td class="negative">-0.2%</td>
<td class="positive">3.8%</td>
</tr>
<tr>
<td>Adelaide</td>
<td>$519,517</td>
<td>$520,846</td>
<td>$498,971</td>
<td class="negative">-0.3%</td>
<td class="positive">4.1%</td>
</tr>
<tr>
<td>Perth</td>
<td>$554,095</td>
<td>$561,391</td>
<td>$567,314</td>
<td class="negative">-1.3%</td>
<td class="negative">-2.3%</td>
</tr>
<tr>
<td>Canberra</td>
<td>$723,980</td>
<td>$693,962</td>
<td>$655,468</td>
<td class="positive">4.3%</td>
<td class="positive">10.5%</td>
</tr>
<tr>
<td>Hobart</td>
<td>$409,592</td>
<td>$392,170</td>
<td>$356,916</td>
<td class="positive">4.4%</td>
<td class="positive">14.8%</td>
</tr>
<tr>
<td>Darwin</td>
<td>$593,329</td>
<td>$615,670</td>
<td>$610,510</td>
<td class="negative">-3.6%</td>
<td class="negative">-2.8%</td>
</tr>
<tr>
<td>National</td>
<td>$819,455</td>
<td>$823,381</td>
<td>$758,367</td>
<td class="negative">-0.5%</td>
<td class="positive">10.8%</td>
</tr>
</tbody>
</table>
</div>
</div>
</div>
</div>
</div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
</div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">Similarly, median unit rents remained steady at $400 per week, up 5.3 per cent year-on-year.<br> </span></div>
<div dir="ltr" align="left"><span dir="ltr">“This period of growth marks the 20th consecutive quarter of house price growth for Melbourne. </span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">"While house prices continue to grow at a steady rate, unit demand is soaring.</span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left">
<span dir="ltr">"The latest growth figures are further indication that demand is significantly ahead of supply," </span>Dr Wilson said.</div>
<div dir="ltr" align="left"> </div>
<div dir="ltr" align="left">
<div dir="ltr" align="left"><span dir="ltr">With policies in place to further restrict investors, it’s likely that rental prices will continue to rise, with fewer properties available, he added.</span></div>
</div>
</div>
</div>
</body></html>

Melbourne unit prices hit record $506,000 median: Domain

<html><body>
<div dir="ltr" align="left"><span dir="ltr">Brisbane unit prices dropped by 3.5 per cent over the September quarter to $376,685. </span></div>
<div dir="ltr" align="left"> </div>
<div dir="ltr" align="left">"The median unit price is sitting at the lowest in three years, and it’s expected that unit prices will only continue to decrease. ,” said Domain Chief Economist, Dr Andrew Wilson.</div>
<div dir="ltr" align="left"> </div>
<div dir="ltr" align="left">
<div dir="ltr" align="left"><span dir="ltr">Median house prices in Brisbane declined marginally over the quarter, dropping by just 0.2 per cent to $551,840. </span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">Dr Wilson noted despite the drop and a relatively subdued year for the local market, house prices are up 3.8 per cent year-on-year.</span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left">
<div dir="ltr" align="left">
<div id="1468469170927-5">
<div class="wpb_text_column wpb_content_element ">
<div class="wpb_wrapper">
<p class="domain-table-title">Domain quarterly stratified median house prices</p>
<div>
<table class="domain-table">
<thead><tr>
<td>HOUSE</td>
<td>SEP 2017</td>
<td>JUN 2017</td>
<td>SEP 2016</td>
<td>QOQ %</td>
<td>YOY %</td>
</tr></thead>
<tbody>
<tr>
<td>Sydney</td>
<td>$1,167,516</td>
<td>$1,190,677</td>
<td>$1,079,309</td>
<td class="negative">-1.9%</td>
<td class="positive">8.2%</td>
</tr>
<tr>
<td>Melbourne</td>
<td>$880,902</td>
<td>$869,598</td>
<td>$773,399</td>
<td class="positive">1.3%</td>
<td class="positive">13.9%</td>
</tr>
<tr>
<td>Brisbane</td>
<td>$551,840</td>
<td>$552,874</td>
<td>$531,767</td>
<td class="negative">-0.2%</td>
<td class="positive">3.8%</td>
</tr>
<tr>
<td>Adelaide</td>
<td>$519,517</td>
<td>$520,846</td>
<td>$498,971</td>
<td class="negative">-0.3%</td>
<td class="positive">4.1%</td>
</tr>
<tr>
<td>Perth</td>
<td>$554,095</td>
<td>$561,391</td>
<td>$567,314</td>
<td class="negative">-1.3%</td>
<td class="negative">-2.3%</td>
</tr>
<tr>
<td>Canberra</td>
<td>$723,980</td>
<td>$693,962</td>
<td>$655,468</td>
<td class="positive">4.3%</td>
<td class="positive">10.5%</td>
</tr>
<tr>
<td>Hobart</td>
<td>$409,592</td>
<td>$392,170</td>
<td>$356,916</td>
<td class="positive">4.4%</td>
<td class="positive">14.8%</td>
</tr>
<tr>
<td>Darwin</td>
<td>$593,329</td>
<td>$615,670</td>
<td>$610,510</td>
<td class="negative">-3.6%</td>
<td class="negative">-2.8%</td>
</tr>
<tr>
<td>National</td>
<td>$819,455</td>
<td>$823,381</td>
<td>$758,367</td>
<td class="negative">-0.5%</td>
<td class="positive">10.8%</td>
</tr>
</tbody>
</table>
</div>
</div>
</div>
</div>
</div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
</div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">The median house rental price in Brisbane remained steady at $400 per week both over the September quarter and over the last 12 months. </span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">Unit rents were also steady over the quarter, sitting at $370 per week. The result is 1.3 per cent lower than the same time last year.<br> </span></div>
<div dir="ltr" align="left"><span dir="ltr">“The slight drop in house prices is in line with Brisbane’s subdued housing market over the last 12 months, while the drop in unit prices is evidence that unit supply in the local market has officially outstripped demand,” said Dr Wilson.</span></div>
<div dir="ltr" align="left"> </div>
<div dir="ltr" align="left">Unit prices being 6.5 per cent year-on-year was reflective of the record levels of new apartment development, which has pushed supply well ahead of demand, he concluded.</div>
</div>
</body></html>

Brisbane unit supply well ahead of demand: Domain

<html><body>
<div dir="ltr" align="left"><span dir="ltr">After dropping consecutively for three quarters, the median house price in Perth has now reached the lowest recorded by the local market in five years. </span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">As the market continues to weaken, house rents in Perth are now the most affordable of all capital cities, said Domain Chief Economist, Dr Andrew Wilson.</span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left">
<div dir="ltr" align="left"><span dir="ltr">The median house price in Perth dropped a further 1.3 per cent over the September quarter, to a five year low of $554,095.</span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left">
<div dir="ltr" align="left">
<div id="1468469170927-5">
<div class="wpb_text_column wpb_content_element ">
<div class="wpb_wrapper">
<p class="domain-table-title">Domain quarterly stratified median house prices</p>
<div>
<table class="domain-table">
<thead><tr>
<td>HOUSE</td>
<td>SEP 2017</td>
<td>JUN 2017</td>
<td>SEP 2016</td>
<td>QOQ %</td>
<td>YOY %</td>
</tr></thead>
<tbody>
<tr>
<td>Sydney</td>
<td>$1,167,516</td>
<td>$1,190,677</td>
<td>$1,079,309</td>
<td class="negative">-1.9%</td>
<td class="positive">8.2%</td>
</tr>
<tr>
<td>Melbourne</td>
<td>$880,902</td>
<td>$869,598</td>
<td>$773,399</td>
<td class="positive">1.3%</td>
<td class="positive">13.9%</td>
</tr>
<tr>
<td>Brisbane</td>
<td>$551,840</td>
<td>$552,874</td>
<td>$531,767</td>
<td class="negative">-0.2%</td>
<td class="positive">3.8%</td>
</tr>
<tr>
<td>Adelaide</td>
<td>$519,517</td>
<td>$520,846</td>
<td>$498,971</td>
<td class="negative">-0.3%</td>
<td class="positive">4.1%</td>
</tr>
<tr>
<td>Perth</td>
<td>$554,095</td>
<td>$561,391</td>
<td>$567,314</td>
<td class="negative">-1.3%</td>
<td class="negative">-2.3%</td>
</tr>
<tr>
<td>Canberra</td>
<td>$723,980</td>
<td>$693,962</td>
<td>$655,468</td>
<td class="positive">4.3%</td>
<td class="positive">10.5%</td>
</tr>
<tr>
<td>Hobart</td>
<td>$409,592</td>
<td>$392,170</td>
<td>$356,916</td>
<td class="positive">4.4%</td>
<td class="positive">14.8%</td>
</tr>
<tr>
<td>Darwin</td>
<td>$593,329</td>
<td>$615,670</td>
<td>$610,510</td>
<td class="negative">-3.6%</td>
<td class="negative">-2.8%</td>
</tr>
<tr>
<td>National</td>
<td>$819,455</td>
<td>$823,381</td>
<td>$758,367</td>
<td class="negative">-0.5%</td>
<td class="positive">10.8%</td>
</tr>
</tbody>
</table>
</div>
</div>
</div>
</div>
</div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
</div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">Perth is one of the only capital cities (along with Darwin) to record a decrease in house prices year-on-year, down 2.3 per cent.<br> </span></div>
<div dir="ltr" align="left"><span dir="ltr">The median unit price in Perth also dropped significantly over the September quarter, down 6.7 per cent to $351,875. </span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">The result 7.7 per cent lower than the median unit price 12 months ago.<br> </span></div>
<div dir="ltr" align="left"><span dir="ltr">The median rental price for houses dropped 2.8 per cent over the September quarter to $350 per week; 7.9 per cent lower year-on-year. While the median unit rental price remained steady over the quarter, the result is still 6.3 per cent lower than at the same time last year.</span></div>
</div>
</body></html>

Perth house prices at five year low: Domain

<html><body>
<div dir="ltr" align="left"><span dir="ltr">Canberra is in catchup mode – bucking the trend of most capital cities and recording increases in rents and house prices, said Domain Chief Economist, Dr Andrew Wilson.</span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left">
<div dir="ltr" align="left"><span dir="ltr">The median house price in Canberra increased an impressive 4.3 per cent over the September quarter, to reach $723,980. </span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">The result is 10.5 per cent higher than the same time last year.<br> </span></div>
<div dir="ltr" align="left"><span dir="ltr">While median unit prices in the capital city have also increased, they jumped a smaller 1.9 per cent over the September quarter to reach $427,391; 0.5 per cent lower than the same time last year.</span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">Canberra was one of only two capital cities to record a quarterly increase in median house rents, jumping 1 per cent to $505 per week. </span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">Unit rents remained steady at $420 per week, up 5 per cent year-on-year. </span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">Canberra was the top performer of all capitals for gross rental yields for units, recording 5.77 per cent over the quarter.<br> </span></div>
<div dir="ltr" align="left"><span dir="ltr">“After relatively subdued periods of activity in recent months, Canberra is in catchup mode,” said Domain Chief Economist, Dr Andrew Wilson.</span></div>
<div dir="ltr" align="left"> </div>
<div dir="ltr" align="left">House price growth in the city is expected to continue, given the strong migration to the area and the undersupply of houses, Dr Wilson forecast.</div>
<div dir="ltr" align="left"><span style="color: #222222; font-size: small;"><span dir="ltr"> </span></span></div>
<span style="color: #222222; font-size: small;"><span dir="ltr"><br></span></span>
</div>
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Canberra's property prices in catch-up mode: Domain

<html><body>
<div dir="ltr" align="left"><span dir="ltr">Hobart was one of only three capital cities to record an increase in median house price over the September quarter.</span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">Domain has Hobart prices up 4.4 per cent to $409,592. </span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">With the highest annual growth in house prices of all the capitals, the city has seen an increase of a "whopping" 14.8 per cent year-on-year, Domain chief economist, Dr Andrew Wilson said.<br></span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">Despite the significant growth, the median house price is also the most affordable of all capital cities.<br> </span></div>
<div dir="ltr" align="left"><span dir="ltr">As well as median house price growth, Hobart also recorded the highest median unit price growth of all cities both over the quarter – up 6.3 per cent to $323,174. </span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">More impressive, however, is the annual increase, with unit prices up 25.6 per cent over the last 12 months. </span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">The growth suggests that recent record levels of new apartment development have had a negligible impact on price, with demand continuing to absorb higher levels of supply.<br> </span></div>
<div dir="ltr" align="left"><span dir="ltr">Hobart’s median house rental price was one of two that increased over the quarter, up 4.2 per cent to $375 per week. </span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">Year-on-year the weekly house rents have skyrocketed, up 13.6 per cent.<br> </span></div>
<div dir="ltr" align="left"><span dir="ltr">“Strong migration and undersupply in the property market is driving strong price growth in Hobart. For investors, Hobart is currently providing the best gross rental yields of all capital cities, with 5.29 per cent recorded in the September quarter. </span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">The local market is confident and the boom-time results are showing no sign of slowing down, said Dr Andrew Wilson.</span></div>
</body></html>

Hobart ranks as strongest - and most affordable - house market in Australia: Domain

<html><body><div class="cq-article-content-paras section">
<p>Foreign buyers, mostly Chinese, are buying a quarter of new housing supply in NSW, with Credit Suisse forecasting a "stronger-for-longer" scenario for the housing sector.</p>
<p>After analysing foreign buyer receipts, the trend is also strong in Victoria, with foreign buyers accounting for the purchase of 17 per cent of new housing. In Queensland, it is 8 per cent.</p>
<p>"Almost 90 per cent of foreign demand is from China and there is little evidence that new capital controls by the Chinese authorities, announced in December 2016, have slowed demand for Aussie housing," the analysts, Hasan Tevfik and Peter Liu advised.</p>
<div class="cq-article-content-paras section">
<p>"We think the tailwind of Chinese wealth creation will mean more, not less, foreign buying of Aussie housing.</p>
</div>
<div class="cq-article-content-paras section">
<p>"Chinese demand suggests we ought to remain skeptical of a collapse," they wrote.</p>
<p>"Residential exposed companies should benefit including the developers, building material companies and banks."</p>
<p>Using Freedom of Information requests the Credit Suisse report collates tax receipts collected by the state revenue offices in the three east coast states in 2016-17 financial year.</p>
</div>
<div class="cq-article-content-paras section">
<p>It found foreign buyers bought $5.9 billion in residential property in NSW, along with $3.4 billion in Victoria and $700 million in Queensland.</p>
<p>While the housing market, is worth $5.6 trillion in the three east coast states, the report notes, it represents a large proportion of the value of new housing supply.</p>
<p>From July 1 this year, NSW doubled the stamp duty on foreign buyers to 8 percent and increased the land tax surcharge from 0.75 per cent to 2 per cent.</p>
<p>Victoria and Queensland impose taxes on foreign buyers of residential property of 7 percent and 3 percent, respectively.</p>
<p>On the question of whether the recent increases in tax will be enough to reconsider and cause house prices in Sydney to decline, Credit Suisse advised international experience suggests not," the Credit Suisse analysts wrote.</p>
</div>
</div></body></html>

Chinese new housing purchasing to ensure Sydney and Melbourne markets remaining stronger for longer

<html><body>
<p>GUEST OBSERVATION</p>
<p>The International Energy Agency (IEA) may be underestimating Australian household energy bills by 25% because of a lack of accurate data from the federal government.</p>
<p>The Paris-based IEA produces official quarterly energy statistics for the 30 member nations of the Organisation for Economic Cooperation and Development (OECD), on which policymakers and researchers rely heavily. But to provide this service, the IEA relies on member countries to provide it with good-quality data.</p>
<p>Last month, the agency published its annual summary report, Key World Statistics, which reported that Australian households have the 11th most expensive electricity prices in the OECD.</p>
<p>But other studies – notably the Thwaites report into Victorian energy prices – have reported that households are typically paying significantly more than the official estimates. In fact, if South Australia were a country it would have the highest energy prices in the OECD, and typical households in New South Wales, Queensland or Victoria would be in the top five.</p>
<p>A spokesperson for the federal Department of Environment and Energy, the agency responsible for providing electricity price data to the IEA, told The Conversation:</p>
<p>"Household electricity prices data for Australia are sourced from the Australian Energy Market Commission annual Residential electricity price trends report. The national average price is used, with GST added. It is a weighted average based on the number of household connections in each jurisdiction.</p>
<p>"The Australian energy statistics are the basis for the Australia data reported by the IEA in their Key world energy statistics. The Department of the Environment and Energy submits the data to the IEA each September. Some adjustments are made to the AES data to conform with IEA reporting requirements."</p>
<p>But it is clear that the electricity price data for Australia published by the IEA is at least occasionally of poor quality.</p>
<p>The Australian household electricity series in the IEA’s authoritative Energy Prices and Taxes quarterly statistical report stopped in 2004, and only resumed again again in 2012.</p>
<p>Between 2012 and 2016, the IEA’s reported residential price series data for Australia showed no change in prices.</p>
<p>Yet the Australian Bureau of Statistics’ electricity price index, which is based on customer surveys, showed a roughly 20% increase in the All Australia electricity price index over this period.</p>
<p>Australia is also the only OECD nation not to report electricity prices paid by industry.</p>
<p>This year’s reported household average electricity prices are almost certainly wrong too. The IEA reports that household electricity prices in Australia for the first quarter of 2017 were US20.2c per kWh.</p>
<p>At a market exchange rate of US79c to the Australian dollar, this puts Australian household electricity prices at AU28c per kWh. Adjusted for the purchasing power of each currency, the comparable price is AU29c per kWh.</p>
<p>By contrast, the independent review of the Victorian energy sector chaired by John Thwaites surveyed the real energy prices paid by customers, as evidenced by their bills. In a sample of 686 Victorian households, those with energy consumption close to the median value were paying an average of AU35c per kWh in the first quarter of 2017. This is 25% more than the IEA’s official estimate. At least part of this difference is explained by the AEMC’s assumption that all customers in a competitive retail market are supplied on their retailers’ cheapest offers. But this is not the case in reality.</p>
<p>Surveying real electricity and gas bills drastically reduces the range of assumptions that need to be made to estimate the price paid by a representative customer. Indeed, as long as the sample of bills is representative of the population, a survey based on actual bills produces a reliable estimate of representative prices in retail markets characterised by high levels of price dispersion, as Australia’s retail electricity markets are.</p>
<p>Pointing to a reliable estimate of Victoria’s representative residential price is, of course, not enough to prove that the IEA’s estimate is wrong. It could just as easily mean that Victorians are paying way more than the national average for their electricity.</p>
<p>But the idea that Victorians are paying more than average does not stack up when we look at the state-by-state data, which suggests that Victoria is actually somewhere in the middle. Judging by the prices charged by the three largest retailers in each state and territory, Victorian householders are paying about the same as those in New South Wales and Queensland, less than those in South Australia, and more than those in Tasmania, the Northern Territory, Western Australia and the Australian Capital Territory.</p>
<p><img src="https://images.theconversation.com/files/187510/original/file-20170926-25765-1cdi55t.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></p>
<p><em><span class="caption">Residential electricity prices.</span> <span class="attribution"><span class="license">Author provided</span></span></em></p>
<p>The IEA can not reasonably be blamed for the inadequate residential data for Australia that they report, and the nonexistent data on electricity prices paid by Australia’s industrial customers. The IEA does not do its own calculation of prices in each country, but rather it relies on price estimates from official sources in those countries.</p>
<p>An obvious question that arises from this is where Australia really ranks internationally if we used prices that reflect what households are actually paying.</p>
<p>This is contentious, not least because prices in New South Wales, Queensland and South Australia increased – typically around 15% or more – from July this year. We do not know how prices have changed in other OECD member countries since the IEA’s recent publication (which covered prices for the first quarter of 2017). But we do know that prices in Australia have been far more volatile than in any other OECD country.</p>
<p>Assuming that other countries’ prices are roughly the same as they were in the first quarter of 2017, our estimate using the IEA’s data is that the typical household in South Australia is paying more than the typical household in any other OECD country. The typical household in New South Wales, Queensland or Victoria is paying a price that ranks in the top five.</p>
<p>It should also be remembered that these prices are after excise and sale tax. Taxes on electricity supply in Australia are low by OECD standards – so if we use pre-tax prices, Australian households move even higher up the list.</p>
<p><img src="https://counter.theconversation.com/content/84681/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">There are serious question marks over Australia’s official electricity price reporting. Policy makers, consumers and the public have a right to expect better.</p>
<p><em><strong>Bruce Mountain</strong> is director, carbon and energy markets at Victoria University.</em></p>
<p><em>This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/australian-household-electricity-prices-may-be-25-higher-than-official-reports-84681" target="_blank">original article</a>.</em></p>
</body></html>

Australian household electricity prices may be 25% higher than official reports: Bruce Mountain

<html><body>
<p>Mortgagees have listed a Dee Why apartment for sale.</p>
<p><a href="https://www.realestate.com.au/property-unit-nsw-dee+why-126113634" target="_blank">The two bedroom, one bathroom offering</a> goes to November 4 auction through Sweetnams.</p>
<p>The 42/52 The Crescent apartment was initially listed for September auction.</p>
<p>It last sold in 2009 at $404,000.</p>
<p><span>The property has its own lock-up garage under the building.</span></p>
<p><span>Located between the beach and Dee Why Shops, t<span>he complex has a swimming pool.</span></span></p>
</body></html>

Dee Why mortgagee listing set to go under hammer

<html><body>
<div class="cq-article-content-paras section">
<p>The Brady Group is in dispute with its minority partner property investor, Xue Bin Wu over the future of an unbuilt $300 million Melbourne apartment skyscraper.</p>
<p>The case is before the Victorian Supreme Court.</p>
</div>
<div class="cq-article-content-paras section">
<p>The Australian Financial Review described the dispute as "bitter."</p>
<p>The dispute is between Xue Bin Wu, also known as David Wu, and the Brady Group, led by Tony Brady over their proposed 68-level apartment tower at <a href="https://urban.melbourne/projects/cbd-west-end/272-282-queen-street-melbourne" target="_blank">280 Queen Street</a>.</p>
<p>The 207-metre building comprises 533 apartments d<span>esigned by Peddle Thorp Architects, with mostly one and two bedroom apartments, 23 penthouses and one custom designed penthouse.</span></p>
<p><span>The proposal attracted attention on its 2015 application when The Age described some of the a</span>partments has not having enough space for basic activities.</p>
<p>The Age advised the plans had "angered" Melbourne City Council officials who found many of its then 589 planned units were undersized.</p>
<p>In a report to council, the planners noted "that many of the apartments are too small to allow for basic daily activities and functions such as eating at a dining table, or having a dressing table in the bedroom whilst maintaining access to the wardrobe."</p>
<div id="plista_widget_outstream_59dd3cc3d535a20" class="plista_widget_outstream" data-widget="">Although there was praise for the inclusion of 46 three-bedroom apartments, the planners said most of these dwellings were less than 70 square metres</div>
</div>
<div class="cq-article-content-paras section">
<p>The Brady Group and David Wu formed a joint venture in 2014 to develop the property, with Brady taking a 67 percent stake.</p>
<p>Brady reportedly put up $23.785 million purchasing funds for the venture, according to an affidavit by Brady Group general manager Simon Pethica.</p>
<p>Under their agreement, it is alleged, both the partners were then to jointly approve and authorise development expenses and then work on a more detailed joint venture agreement.</p>
</div>
<div class="cq-article-content-media section">"David has obstructed every reasonable attempt to finalise a more detailed joint venture agreement," the statement alleged.</div>
<div class="cq-article-content-paras section">
<p>"Without a detailed joint venture agreement, it is impossible to progress the development in a timely and commercially effective manner."</p>
<p>The statement alleges that Mr Wu has "unreasonably refused" to authorise a series of expenses incurred through the development process, including the reimbursement of a $25,300 fee paid by Brady Constructions to the Foreign Investment Review Board.</p>
<p>The failure to make those payments has stalled the development of the project, it is alleged.</p>
</div>
<div class="cq-article-content-paras section">
<p>The Brady Group has asked for a court order forcing Mr Wu to sell. Failing that, Brady seeks an order to wind up the joint venture.</p>
<p>Mr Wu, who also runs a real estate agency, has yet to file a defence.</p>
<p>In 2014 The Age initially reported the property had been purchased by Chinese national Xue Bin Wu.</p>
<div id="plista_widget_outstream_59dd3dbfedb2c40" class="plista_widget_outstream" data-widget="">It suggested Wu held a third portion of the holding company which lodged the plans for the site, suggesting an initial joint capital venture with Brady.</div>
<p>However a Brady Group spokesman told The Age in late 2014 that Mr Wu was no longer involved in the project. "It will be a Brady Group development," he said. "Work will start in about 12 months."</p>
<p>The Financial Review writes that as of October 2017 the fate of a $300 million Melbourne skyscraper hangs in the balance as under the conditions of its state government planning approval, work must begin on the project by June next year.</p>
</div>
</body></html>

Brady Group in partnership stoush with David Wu over 280 Queen Street

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


Joel Robinson

Lendlease selected to deliver transformative South Brisbane riverfront precinct

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


First look: Level 33 upsizes Wollongong apartment towers

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


First look: Urban Property Group plans next major Wollongong tower

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


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

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


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