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<p>A six bedroom Donvale house has been listed for auction.</p>
<p>Located at <a href="https://www.realestate.com.au/property-house-vic-donvale-126434270">106 Old Warrandyte Road</a>, the one acre property has been marketed as one of “Donvale’s finest home”.</p>
<p>The property last sold in 2015 for $1,473,000.</p>
<p>It features a formal dining room and lounge with a gas log fireplace and marble hearth.</p>
<p>The marble kitchen features a butler’s pantry and is connected to the entertainer’s alfresco.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/20/106%20Old%20Warrandyte%20Road-2.jpg" alt=""></p>
<p>Rumpus area features a marble wet bar with wine fridge and there is also a theatre room with custom seating, projector and screen.</p>
<p>There are four double bedrooms upstairs while the downstairs master bedroom features a walk-in robe and ensuite.</p>
<p>Other features includes tennis court, five car garage and three-phase power.</p>
<p>Public transport and Tunstall Square are within close proximity of the property.</p>
<p>The property is auctioned on October 14 and is offered through Barry Plant agents Tony Tuccitto and Spiro Drossos.</p>
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j.ballantyne1990-6AQqhLzZaK

Six bedroom Donvale house listed for auction

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<p>While the September results had dwelling values edging 0.2% higher across Australia over the month, Sydney dwelling values slipped 0.1% lower over the month.</p>
<p>Sydney’s quarterly result was the slowest since values declined by 2.2% over the March quarter of 2016 and it’s the first month-on-month decline after 17 months of consistent capital gains, CoreLogic advised.</p>
<p>"Interestingly, across the Sydney housing market, it was the detached housing sector that pulled the monthly and quarterly growth rates lower," Tim Lawless, CoreLogic head of research said.</p>
<p>"While unit values are also appreciating at a slower rate, detached housing values were 0.3% lower over the month of September and 0.2% lower over the quarter while unit values recorded a subtle rise.</p>
<p>"For the Sydney housing market, concerns around unit oversupply is less evident compared with the Brisbane unit sector, or to a lesser extent with Melbourne," Mr Lawless said.</p>
<p>“Potentially the affordability challenges facing Sydney buyers within the detached housing sector are pushing more demand towards the medium to high density sector, where, based on median values, houses are almost $290,000 more expensive than units.”</p>
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<p><span>Index results as at September 30, 2017</span></p>
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<p><span>Change in dwelling values Month Quarter Annual Median value</span></p>
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<p><span>Sydney                 -0.1% 0.2% 10.5%             $909,613 </span></p>
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<p><span>Melbourne             0.9% 2.0% 12.1%             $703,816</span></p>
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<p><span>Brisbane                0.3% 0.5% 2.9%               $490,208 </span></p>
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<p><span>Adelaide                0.0% 0.3% 5.0%               $429,583</span></p>
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<p><span>Perth                    0.1% -1.3% -2.9%              $462,783 </span></p>
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<p><span>Hobart                 1.7% 3.4% 14.3%               $391,618</span></p>
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<p><span>Darwin                -0.7% -4.0% -4.7%              $445,516 </span></p>
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<p><span>Canberra             0.6% 1.3% 7.8%                  $580,043</span></p>
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<p><span>Combined capitals 0.3% 0.7% 8.5%                 $648,845 </span></p>
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<p><span>Combined regional 0.1% 0.0% 5.6%                $350,471</span></p>
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<div class="layoutArea">
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<p><span>National              0.2% 0.5% 8.0%                  $540,647 </span></p>
</div>
</div>
</div>
</div>
<p>Melbourne’s housing market is also showing slower growth conditions, however growth remains relatively resilient compared with Sydney. Dwelling values were almost 1% higher over the month of September and rose by 2.0% over the September quarter.</p>
<p>Mr Lawless said the stronger housing market conditions in Melbourne are supported by auction clearance rates which have consistently remained above 70%.</p>
<p>"Additionally, advertised stock levels remain remarkably low and private treaty sales continue to sell rapidly, averaging 30 days on market.”</p>
<p>The remaining capital cities have shown a diverse performance over recent months.</p>
<p>Perth dwelling values look to be moving through the bottom of the cycle, with values edging 0.1% higher over the month, however values remain down over the quarter and year.</p>
<p>For Darwin, the housing market isn’t showing the same signs of bottoming out with dwelling values slipping 0.7% lower over the month and 4% lower over the September quarter.</p>
<p>In Brisbane, the market has seen a growing divergence between the performances of houses compared with units; house values were 0.2% higher over the month to be 4.0% higher over the year, while unit values showed an increase over the month but remain 2.5% lower over the past year.</p>
<p>Adelaide dwelling values held firm over the month but have shown a 5.0% rise over the year.</p>
<p>Hobart further cemented its position as the best performing housing market after a recent history of sluggish growth conditions.</p>
<p>The past twelve months has seen Hobart dwelling values surge 14.3% higher; the highest annual growth rate since 2004.</p>
<p>Despite the strong capital gains, the cost of housing remains substantially lower than any other capital city with a typical house value of $412,340 and a median unit value of just under $320,000.</p>
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Sydney dwelling values slip in September, but apartments aren't the current weakness

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<div>The latest population growth figures put an altogether different slant on Australia's assumed apartment gluts. </div>
<div> </div>
<div>In Melbourne, the risks have receded dramatically, at least for now.</div>
<div> </div>
<div>In fact, with the state's estimated populated growth apparently tracking at the highest level in six decades, it would be all but impossible for the market to become 'oversupplied' until this rate of growth in the headcount slows down. </div>
<div class="separator"> </div>
<div class="separator"><a href="https://www.propertyobserver.com.au/images/2017/09/29/B2.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"> </div>
<div class="separator"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/29/B2.jpg" alt=""></div>
<p> </p>
<div>Now Queensland <strong><span style="text-decoration: underline;">really</span></strong> went on an apartment construction mission from 2014 forth, to the extent that there is a now a clear oversupply of units in some locations, particularly inner city Brisbane, with more supply still to come online. </div>
<div> </div>
<div>The latest figures show that although the glut will have an impact for some time to come, the market will right itself eventually.</div>
<div> </div>
<div>Indeed, the reacceleration of population growth to +75,400 per annum is exactly what Queensland's housing markets needed to help absorb the stock, while new apartment starts are now understandably and visibly slowing to a crawl. </div>
<p><a href="https://www.propertyobserver.com.au/images/2017/09/29/B1.jpg" target="_blank">Click to enlarge</a></p>
<div class="separator"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/29/B1.jpg" alt=""></div>
<p> </p>
<div>In Hobart, commencements have yet to pick up dramatically, despite electric growth in house prices and rents.</div>
<div> </div>
<div>Because the Hobart market demands houses and not apartments, in theory the supply response should come much more quickly (apartment projects can take ages to build, comparatively speaking).<br><br>And we know from previous cycles that the market has the potential to deliver much greater supply - but to date it hasn't happened.<br><br>Developers from the mainland are not that keen to get involved, perhaps, given the logistical challenges.<br><br>I haven't been down to Tassie for a while - and I got seasick when I last went - so I have no feel whatsoever for activity on the ground. </div>
<div> </div>
<div><strong><span style="text-decoration: underline;">First homebuyer demand</span></strong></div>
<div> </div>
<div>I noted here previously that the 2016 Census confirmed an enormous surge in 25-34 year olds.</div>
<div> </div>
<div>Due in part to housing affordability challenges, many are not yet forming households, though they might begin to do so if capital city apartment prices do ever slide in any meaningful way.<br><br>
</div>
<div>ANZ research this week suggested that there is significant latent first homebuyer demand, and ANZ believes that this could potentially keep an effective floor under prices, which is what I concluded from the Census figures back in June too.</div>
<p> </p>
<p class="p1"><span class="s1">PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank"><span class="s2">AllenWargent</span></a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank"><span class="s2">blogger</span></a>.</span></p>
<p class="p2"><span class="s3"><em>His latest book is </em><a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank"><span class="s2"><em>Four Green Houses and a Red Hotel</em></span></a><em>.</em></span></p>
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Australia's assumed apartment gluts

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<p>A 1925 Somerton Park home has sold for $1.67 million making it Adelaide’s most expensive weekend auction sale.</p>
<p>The four bedroom home, known as Carlisle, at <a href="https://www.realestate.com.au/sold/property-house-sa-somerton+park-126338938" target="_blank">27 Scarborough Street</a>, sits on 1231 sqm near the beach.</p>
<p>It last sold for $1,247,000 in 2013.</p>
<p>It features a formal lounge on the first floor then another lounge room on the second level.</p>
<p>There is also a dining room, served by a timber-laden kitchen.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/24/27%20Scarborough%20Street-2.jpg" alt=""></p>
<p>A master bedroom upstairs features its own ensuite and dressing room.</p>
<p>A large alfresco pergola sits between the swimming pool and tennis court.</p>
<p>The property was offered through Tyson Edwards and Mandy Edwards of Harris Real Estate.</p>
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1925 Somerton Park home sells for $1.67 million - Adelaide's most expensive weekend sale

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<p>A four bedroom house at Hughes has sold for $1.665 million making it Canberra’s most expensive weekend auction sale.</p>
<p>The home at <a href="https://www.realestate.com.au/property-house-act-hughes-126302254" target="_blank">18 Goble Street</a> was marketed as having “unquestionable style and grandeur”.</p>
<p>Built in 2012 it last sold for $485,000 in 2003.</p>
<p>It features three living areas and a multi-purpose room, media room and home office. There is also a study available.</p>
<p>The second living area is adjacent to the open plan kitchen and dining area which leads to the outdoor entertainment area.</p>
<p>Chef’s kitchen features a Caesarstone benchtop, custom cabinets, stainless steel appliances and a butler’s pantry with second oven.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/24/18%20Goble%20Street-2.jpg" alt=""></p>
<p>Upstairs are the bedrooms with two having built-ins while the guest bedroom has its own walk-in robe.</p>
<p>Master bedroom features custom-designed walk-through robe and ensuite.</p>
<p>Outdoor features a solar heated pool and landscaped garden.</p>
<p>Other feature include a double garage with additional off-street parking.</p>
<p>Woden Plaza, shops and public transport are all within close proximity of the property.</p>
<p>The property was offered through Peter Blackshaw Real Estate agents Mario Sanfrancesco and David Stokes.</p>
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Hughes home sells for $1,665,000 - Canberra's most expensive weekend auction sale

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<p>A five bedroom Ascot house has sold for $2.4 million making it Brisbane’s most expensive weekend auction sale.</p>
<p>The home at <a href="https://www.realestate.com.au/property-house-qld-ascot-126284338" target="_blank">111 Alexandra Road</a> was marketed as "having it all."</p>
<p>Built in 1920, the home on 1120 sqm last sold in 2003 for $1.9 million.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/24/111%20Alexandra%20Road-2.jpg" alt=""></p>
<p>The renovated Queenslander has five bedrooms, the master suite featuring its own ensuite. All five bedroom are accessed through the upstairs lounge.</p>
<p>The sale through Ray White's Vanessa Harte came with a tennis court on a separate 410 sqm block</p>
<p><span style="font-size: 12.16px;"> </span></p>
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Five bedroom Ascot home sold for $2.4 million

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<p>Dubai-based senior partner at McKinsey Middle East Michael Rennie has sold his Cottage Point holiday home bordering the Ku-ring-gai Chase National Park for $2.85 million to Ross Nerodov.</p>
<p>The home <a href="https://www.realestate.com.au/property/7-notting-lane-cottage-point-nsw-2084" target="_blank">overlooking Coal and Candle Creek</a> was expected to fetch between $3.7 million to $4 million when first listed in November.</p>
<p>Rennie paid $1.9 million for the 700 sqm waterfront block in 2006 and called upon on architect Nici Long to design the four bedroom home.</p>
<p><span style="font-size: 12.16px;"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/Cottage2.jpg" alt=""></span></p>
<p>LJ Hooker Double Bay agent Alain Waitsman sold the home in conjunction with LJ Hooker Newport agent Gordon Spring.</p>
<p>The Rhodes scholar was formerly McKinsey Australia managing partner before moving to Dubai in 2013.</p>
<p>This article was first published in the Sunday Telegraph.</p>
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McKinsey Middle East senior partner sells at Cottage Point

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<p>Suncorp has announced new pricing methodology for interest only home lending.</p>
<p>It banking &amp; wealth CEO David Carter said the bank currently calculated interest only rates based on the purpose of the loan, but would now also take into account the type of loan repayment, i.e. owner occupier or investor.</p>
<p>Variable interest rates on existing owner-occupier interest only rates will increase by 0.10% p.a and variable interest rates on all investor interest only rates will increase 0.38% p.a., effective 1 November, 2017.</p>
<p>Variable interest rates on existing principal and interest owner-occupier and investor rates remain unchanged.</p>
<p>“Currently, our interest only home lending is priced at the same rate as principal and interest home lending, however following recent changes in the market we have made changes to our systems to differentiate between borrowers repaying interest only, and those repaying principal and interest,” David Carter told Australian Broker.</p>
<p>“With the market having effectively repriced interest only lending, and with some lenders having opted out of certain aspects of the market, it’s important for us to also support the focus on this type of lending.   </p>
<p>  “We are writing to customers this week to advise them of this change and the new interest only rates, which will come into effect on 1 November, 2017."</p>
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Suncorp lifts interest only rates by 0.38 percent

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<p>McGrath Limited has announced the appointment of Glynn Wright as its chief financial officer.</p>
<p>Wright joins McGrath from Bras N Things, where he held the positon of CFO and, before that, from Woolworths Limited, where he was head of finance transformation.</p>
<p>Wright is a qualified chartered accountant and brings extensive experience in strategy, planning and transformation.</p>
<p>The current CFO, Paul Hauenschild will remain with McGrath to provide an appropriate handover to Wright. The board thanked Hauenschild for his contribution over more than 10 years, including assisting the company through the period of its initial public offering. </p>
<h4 class="heading"> </h4>
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Glynn Wright replaces Paul Hauenschild as McGrath CFO

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<p class="p1">Deicorp’s $400 plus million apartment development, Highline Westmead, promises to deliver more than 550 apartments as part of Western Sydney’s transformation.<span class="Apple-converted-space"> </span></p>
<p class="p1">Inspired by New York’s urban masterpiece, Highline will comprise 556 apartments spread over five, 7-23 storey buildings.</p>
<p class="p1">The apartments are a mix of studios, one, two and three-bedroom apartments.</p>
<p class="p1">Approval for the first half of the project at <a href="https://deicorpproperty.com.au/property/westmead/" target="_blank">151 Hawkesbury Road</a> came recently. </p>
<p>Stage 1 is expected to be complete by late 2019.</p>
<p class="p1"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/15/2.%20Westmead_Builing%20B1_Apt%2014.06_East%20View.jpg" alt="" style="font-size: 12.16px;"></p>
<p class="p1">Designed by well-known architects Turner Studio, the development will feature a swimming pool, sun decks, BBQ pavilions and communal green spaces. There is also a rooftop garden.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/15/3.%20Westmead_Centre%20core%20view.jpg" alt=""></p>
<p class="p1">Many of the units are under $650,000, and will suit both first homebuyers and investors.</p>
<p class="p1">“Westmead is critical to Western Sydney’s continued economic transformation, and is expected to generate up to 50,000 new knowledge jobs by 2036,” according to the Deloitte Access Economics report, Westmead Innovation District: Building Western Sydney’s jobs engine.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/15/5.%20Westmead_Pool%20Area.jpg" alt=""></p>
<p class="p1">With over $5.8 billion to be invested over the next decade, Westmead is also poised to be Australia’s fastest growing economy. Westmead has $1 billion expansion plans for local universities and an upcoming $900 million hospital redevelopment.</p>
<p class="p1">It is near Westmead Train station and will be close to the planned light rail stop. There’s plenty of shopping nearby.<span style="font-size: 12.16px;"> </span></p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/15/7.%20Westmead_Alternate%20Pool%20view.jpg" alt=""></p>
<p> </p>
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Deicorp's $400 million Highline Westmead part of Western Sydney's transformation 

<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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