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A two bedroom Holt house has sold for $290,000 making it Canberra’s cheapest sale at last weekend's auction.
Located at <a href="https://www.realestate.com.au/sold/property-house-act-holt-126317694" target="_blank">19 Goddard Crescent</a>, the property is in original condition.
It features new carpet in the lounge and bedrooms as well as a two way bathroom/ensuite in the first bedroom.
There are also built-in robes in both bedrooms.
The front and rear courtyards can be accessed via a sliding door along with the single carport from the lounge room.
Shops, cafes and city are all within easy access of the property.
The property was offered through One Agency agent Michael Potter.
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j.ballantyne1990-6AQqhLzZaK

Two bedroom Holt house sold for $290,000

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A four bedroom Bedford Park house has sold for $420,000 making it Adelaide’s cheapest weekend auction sale.
Located at <a href="https://www.realestate.com.au/sold/property-house-sa-bedford+park-126342402" target="_blank">16 Franklin Avenue</a>, the 1000 sqm property is a minute’s walk to amenities.
It features three bedrooms and one bathroom with the potential to create an extra one or two additional bedrooms.
The roof has been replaced along with new carpet and paintwork although potential for further renovations are available.
Other features includes off-street parking and a shed.
The property was offered through Scott Robinson of Ray White.
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Four bedroom Bedford Park house sold for $420,00

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Retirement industry player Andrew Philip's RCA Villages has emerged as the $16.26 million buyer of the former Ingham's hatchery at Mount Martha.
Ingham Enterprise's holding at <a href="https://www.realcommercial.com.au/property-land+development-vic-mount+martha-502354054" target="_blank">646 Nepean Highway</a> was 4.5 hectares.
It was offered in May to developers after TPG paid the Ingham family $880 million for its then-94-year old poultry business in 2013.
The parcel is close to Mount Martha beach, located about a kilometre away.
Around one in three chickens sold in Australia is produced by Inghams – which was established in 1918 in Casula, New South Wales.
The selling agent was David Minty of CBRE. 
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TPG hatchery at Mt Martha sold to retirement village operator 

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Pembroke, the investing arm of US fund manager Fidelity, has signed up upmarket Italian fashion label Bottega Veneta as a tenant at the former KPMG office at T&amp;G Building on Melbourne’s Collins Street.
Bottega Veneta, part of French luxury group Kering Group which owns Gucci as well, has leased a 387 sqm store in the T&amp;G Building. It will be the Italian brand’s first first street-level store in Australia.
Gucci already has a presence there and recently expanded into a new 420 sqm. Others include MaxMara and a third luxury retail tenant, rumoured to be an Italian fashion label, The Australian Financial Review reported.
The leasing deal was negotiated by Zelman Ainsworth of CBRE.
Pembroke took over the 1930s T&amp;G Building in a $275 million deal in 2015, hiring architects Bates &amp; Smart to give the 12-storey tower a makeover following the departure of KPMG.
Matthew Knight, head of Australia for Pembroke Real Estate, said there was a distinct lack of space for luxury retailers at the top end of Collins Street. 
"It's very tightly held so any opportunity is highly sought after by new players," he was quoted by the AFR.
The rent amount was not disclosed, but market chatter suggests it be between $3,000 and $5,000 per sqm.
"Luxury brands love to clustered together. It's better for them to have competitors around them as it brings people to the area,” he said.
Earlier this year, services firm Accenture signed a 10-year lease for two floors at the T&amp;G Building.
 
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Bottega Veneta to add to Collins Street fashion quotient

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GUEST OBSERVER
<h1>The number of Australian's with no savings has increased.</h1>
If you needed A$2,000 in a hurry where would you get it? <a href="https://www.csi.edu.au/financialresilience/" target="_blank">70% of those we surveyed</a> said they would ask friends or family, although almost half said that it’s very or fairly unlikely that their social connections could help.
This is just one of the takeaways from our <a href="https://www.csi.edu.au/financialresilience" target="_blank">new report</a>, funded by NAB, that shows financial resilience is declining in Australia. Large numbers of Australians are struggling to meet expenses, pay bills and manage or recover from financial shocks despite two decades of <a href="https://www.rba.gov.au/chart-pack/au-gdp-growth" target="_blank">GDP growth</a>, <a href="https://theconversation.com/income-inequality-ticks-down-as-the-rich-see-their-incomes-fall-abs-83883" target="_blank">declining income inequality</a> and <a href="https://www.csi.edu.au/financialresilience" target="_blank">increasing financial capability</a>.
And while more adults in Australia are reporting regular social contact, and fewer are reporting needing community or government support, the number of Australians needing support but not receiving it has increased from 3.2% to 5.3%.
<iframe style="border: none;" src="https://datawrapper.dwcdn.net/RhNx5/9/" frameborder="0" width="100%" height="400"></iframe>
The problem is especially acute for those on low incomes. A recent <a href="https://www.sprc.unsw.edu.au/research/projects/a-new-healthy-living-minimum-income-standard-for-low-paid-and-unemployed-australians/" target="_blank">report</a> found most low-income households are unable to afford a minimum and healthy standard of living, with their incomes falling short by between A$9 and A$89 a week.
In this week’s <a href="https://www.abs.gov.au/ausstats/abs@.nsf/Latestproducts/6530.0Main%20Features72015-16?opendocument&amp;tabname=Summary&amp;prodno=6530.0&amp;issue=2015-16&amp;num=&amp;view=" target="_blank">Household Expenditure Survey</a>, the Australian Bureau of Statistics found that two in every five households are experiencing at least one indicator of financial stress. In households with incomes in the bottom 40%, this ratio increases to one in two.
<iframe style="border: none;" src="https://datawrapper.dwcdn.net/TzNNI/1/" frameborder="0" width="100%" height="400"></iframe>
People on the lowest incomes <a href="https://www.abs.gov.au/ausstats/abs@.nsf/Latestproducts/6530.0Main%20Features72015-16?opendocument&amp;tabname=Summary&amp;prodno=6530.0&amp;issue=2015-16&amp;num=&amp;view=" target="_blank">are</a>:
<ul>
<li>12 times more likely to be unable to raise A$2,000 in a week for something important</li>
<li>Five times more likely to be unable to pay a utility bill on time</li>
<li>Ten times more likely to be unable to heat their homes than the highest income households.</li>
</ul>
The lowest income households are also more likely to be socially isolated than the highest income group. For example, they were at least ten times more likely to be unable to afford a special meal once a week or a night out once a month.
<iframe style="border: none;" src="https://datawrapper.dwcdn.net/US8vA/3/" frameborder="0" width="100%" height="400"></iframe>
As you can see in the above graphic, the proportion of Australian adults who are financially secure has decreased significantly between 2015 and 2016, from 35.7% to 31.2%. One in eight Australians (12.6%) now experience severe or high financial stress, up from 11.1%.
In practical terms financial stress may mean a combination of limited or no savings; difficulties meeting everyday living expenses, managing debts and raising funds in an emergency; no direct access to a bank account; no access to appropriate and affordable credit and/or low levels of social support.
When you dig deeper into the data you see this is not a problem of behaviour or financial literacy. The decline in financial resilience has occurred despite a significant improvement in the proportion of people with moderate to high levels of financial knowledge and behaviour (from 50% to 55%).
This includes a knowledge of, and confidence using, financial products and services. And a willingness to seek financial advice and engage in proactive behaviours like saving, budgeting and paying more than required on debts.
<iframe style="border: none;" src="https://datawrapper.dwcdn.net/u21Ej/3/" frameborder="0" width="100%" height="400"></iframe>
This leads to the conclusion that the cause of the decrease in financial resilience is due to a decline in external resources. This means people having enough money to meet living expenses and manage debts, and having access to a bank account, appropriate credit, insurance and being able to access social and community supports when needed.
We can see this by looking at data on savings.
More Australians are saving (up to 60.2% in 2016 from 56.4%). However, as you can see in the chart below, the total amount of savings has declined. Only one in two people had three months or more of income saved (a drop from 51.9% in 2015 to 49.5% in 2016). And people with savings of a month or less increased from 27.3% to 31.6%.
<iframe style="border: none;" src="https://datawrapper.dwcdn.net/Xxy7t/5/" frameborder="0" width="100%" height="400"></iframe>
More Australians are budgeting, too. With 51.6% following a budget in the latest survey as compared to 49.1% in 2015.
The data also shows us that an inability to access appropriate financial products and services affects a large number of Australians. This was mainly driven by increases in the number of people who only had indirect access to a bank account (from 1.2% in 2015 to 2.7% in 2016) and increases in the number of people who had no access to appropriate credit (20.2% in 2015 compared to 25.6% in 2016).
Appropriate and affordable credit is important to assist people who cannot draw on savings when they experience financial shocks, such as the sudden need to replace a washing machine or fridge, or to fix a car needed to get to work.
<iframe style="border: none;" src="https://datawrapper.dwcdn.net/rJeuR/2/" frameborder="0" width="100%" height="400"></iframe>
As we can see, stories of economic growth and declining income inequality aren’t capturing the whole picture. It is important that we don’t overlook the large number of people and households in Australia who are experiencing high levels of financial stress, who are struggling to pay the bills and meet basic living expenses.
Our research shows that large numbers of people and households are not prepared, or adequately supported, should a financial shock (such as an increase in interest rates or a recession) materialise.
<img src="https://counter.theconversation.com/content/84053/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">While most people have strong social support; more appropriate, affordable and accessible financial support from the government, communities and financial institutions is required. This is along with appropriate mechanisms to help identify people most at risk and to cross refer where required.
<a href="https://theconversation.com/profiles/kristy-muir-158422" target="_blank">Kristy Muir</a>, Professor of Social Policy / Research Director, Centre for Social Impact, <a href="https://theconversation.com/institutions/unsw-1414" target="_blank">UNSW</a> and <a href="https://theconversation.com/profiles/axelle-marjolin-161212" target="_blank">Axelle Marjolin</a>, Researcher at the Centre for Social Impact, <a href="https://theconversation.com/institutions/unsw-1414" target="_blank">UNSW</a>
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/income-inequality-may-be-declining-but-financial-vulnerability-is-increasing-84053" target="_blank">original article</a>.
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Income inequality may be declining but financial vulnerability is increasing

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One of Surry Hill’s landmark buildings has been listed by The City of Sydney through CBRE in a move that will help reactivate the iconic Oxford Street commercial strip.
The <a href="https://www.domain.com.au/property-profile/1-5-flinders-street-surry-hills-nsw-2010" target="_blank">1-5 Flinders Street</a> property is a freestanding building on a 350 sqm landholding in the heart of Taylor Square. 
It was built in 1910 and was previously known as the ‘T2’ building. It has had a number of uses over the years, including a Commonwealth Bank branch and bar venue.
The property, which has a net lettable area of 923 sqm, is recognised by its unique exterior pattern, which is a result of City Of Sydney’s 2012 “Streetware” programme. The pattern is an urban Aborignal artwork that is reflective of the building’s position within Taylor Square.  
The building is being marketed by CBRE’s team of Nicholas Heaton, Gemma Isgro and Michael Khouri.
Isgro said the sale represented an outstanding opportunity to be part of Oxford Street’s resurgence as a popular retail, commercial and residential destination. 
“The future of this property has the potential to redefine Oxford Street, bringing new life to one of Sydney’s most loved and renowned streets,” Isgro said. 
Khouri said the property would attract strong interest from hospitality groups looking to capitalise on its prime inner-city position. 
“The freehold nature of the building will also be of interest to owner occupiers looking to secure 100% ownership of their head office, as well as investors keen to acquire a slice of prime Sydney city fringe real estate.” 
The property is being offered for sale via expressions of interest closing October 25.
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Iconic Surry Hills building T2 put on the market

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The global benchmark for environmental, social and governance (ESG) performance of real assets, GRESB has named the Australia and New Zealand real estate market as the world’s most sustainable.
GRESB assessed 850 real estate companies and funds, representing more than 77,000 properties and AUD $4.6 trillion in global assets under management.
The Australia/New Zealand regional score was 73, compared with a global average of 63.
In 2016, Australia/NZ scored 74, compared with the global average of 60.
Ruben Langbroek, Head of Asia Pacific at GRESB said a record 66 Australian companies with AUD $205 billion in assets reported to GRESB this year, up from 55 last year.
He said this uptake is a direct result of increased investor demand for ESG-related disclosures.
“Transparency on ESG performance of property companies and funds supports investors, such as superannuation funds, to make better informed decisions on where and how to allocate their capital," he said.
“Importantly, it also enables them to identify material topics for engagement with their investment managers, with the aim of enhancing and protecting shareholder value.
“The results for Australia and New Zealand underline that investor interest, supported by accurate ESG performance benchmarking and building-level certification programs, is empowering the spread of leading practices in sustainability.
“The region’s integrated approach to sustainability supports the industry’s efforts to create healthy working environments, efficient buildings, inclusive communities and resilient cities.”
Romilly Madew, CEO, Green Building Council of Australia’s said green building certification programs, like Green Star and NABERS, are now institutionalised in mature real estate markets like Australia.
“Disclosure and transparency continue to drive the market in Australia, influenced by a host of factors from the Paris Agreement targets and Sustainable Development Goals, to disclosure requirements through the stock exchange and the Green Building Council of Australia’s zero carbon agenda,” she said.
“Australia continues to be recognised globally for its high level of transparency, collaboration and knowledge- sharing, as well as its accountability for sustainability at the highest levels.
“GRESB can help investors understand important non-financial metrics that are influencing the value of buildings across global markets.
“Leading companies understand this, which is why 20 per cent more Australian companies are now reporting to GRESB than a year ago.”
Lendlease’s Australian Prime Property Fund Commercial was ranked number one of all 850 companies and funds globally.
Lendlease International Towers Sydney Trust and Lendlease One International Towers Sydney Trust were jointly named the most sustainable development funds globally, and the Asian Retail Investment Fund 1 recognised as the regional leader for the retail sector in Asia.
The Australian Prime Property Fund Retail ranked number two in Oceania.
Josh McHutchison, Lendlease’s Managing Director, Investment Management, said around the world, we continue to see more and more investment in sustainable world-class assets.
“Established rating tools like Green Star provide investors with an independent verification of performance and helps us position our funds to meet the demands of leading investors,” he said.
Dexus Wholesale Property Fund was named a global sector leader for diversified office and retail groups.
Darren Steinberg, Dexus Chief Executive Officer said being named a global sector leader recognises our success in delivering world class, sustainable properties and is testament to the hard work and efforts of our sustainability team
Stockland was ranked first globally among listed companies for the diversified office and retail sector.
Stockland also announced today they will invest $23.5 million roll out Australia’s largest ever property solar project at 10 of its shopping centres across the country.
Davina Rooney, Stockland General Manager for Sustainability, said Stockland, sustainability is integral to what we do, creating vibrant and thriving places to shop, work and live, now and into the future.
“We continue to take a concerted effort to improve and measure sustainability across the business - within our assets, through our supply chain, the location and design of our communities and through tangible benefits to our customers and retailers,” he said
“We are 100% committed to investing in sustainability for the business and extremely proud to be setting this new standard in solar for Australian property.”
GRESB’s regional sector leaders for Australia/NZ are:
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<tr>
<td valign="top" width="186">
Retail – Mixed:
</td>
<td valign="top" width="239">
Vicinity Centres
</td>
</tr>
<tr>
<td valign="top" width="186">
Office – Listed:
</td>
<td valign="top" width="239">
Dexus Office Trust
</td>
</tr>
<tr>
<td valign="top" width="186">
Office – Private:
</td>
<td valign="top" width="239">
Australian Prime Property Fund Commercial – Lendlease
</td>
</tr>
<tr>
<td valign="top" width="186">
Industrial – Mixed:
</td>
<td valign="top" width="239">
Frasers Logistics &amp; Industrial Trust
</td>
</tr>
<tr>
<td valign="top" width="186">
Diversified – Retail/Office Mixed:
</td>
<td valign="top" width="239">
Dexus Wholesale Property Fund
</td>
</tr>
<tr>
<td valign="top" width="186">
Development fund – Listed:
</td>
<td valign="top" width="239">
Goodman Group
</td>
</tr>
<tr>
<td valign="top" width="186">
Development fund – Private:
</td>
<td valign="top" width="239">
Lendlease International Towers Sydney Trust
</td>
</tr>
</tbody></table>
The Dow Jones Sustainability Index named Mirvac the top real estate group.
Investment specialist group RobecoSAM, which compiles the rankings, singled out Mirvac’s “climate strategy and approach to biodiversity” as “particularly laudable”.
Mirvac's top ranking was underpinned by strengths in corporate governance, impact measurement and valuation, environmental reporting, and social reporting.
Mirvac’s CEO and Managing Director, Susan Lloyd-Hurwitz. said the result demonstrates our whole-hearted commitment to sustainability in its broadest form, which provides real value to our communities, customers, partners and investors.
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Australia posts seven years of global sustainability leadership

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A freehold, modern building in Sunshine Coast’s Cooroy, ideal for office or medical use, has been listed with price expectations of $795,000 plus GST through Savills.
The property at <a href="https://www.realcommercial.com.au/property-offices-qld-cooroy-502456802" target="_blank">3-5 Myall Street</a> is located in the business district of Cooroy, a fast growing railway town.
The building previously housed award-winning owner Ausmar Homes for nearly 20 years.
The recently renovated, standalone building boasts a modern façade, standalone backlit pillar signage at its entrance and dual street access.
The office area is 266 sqm comprising a reception, five offices, a boardroom, and all amenities, in an open plan format.
The land area is 792 sqm.
The office is flanked by allied health and medical tenants. It is also close to cafes, restaurants and public transport.
The property is being marketed by Savills’ Will Carman and Peter Capps.
“Freehold office in general is extremely hard to come by on the Sunshine Coast at present, let alone of 3-5 Myall Street’s calibre, with the recent improvements made to the asset solidifying it as an A-grade office accommodation offering,” Carman said.
“The property, with its impressive fitout, numerous features and great exposure, would be extremely well suited to professional businesses, the medical industry or owner occupiers,” he said.
The property was put on the market as Ausmar Homes is expanding and wanted a bigger office. It builds on average 250 homes annually
The building was only completed in 2012, so it’s as good as new.
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Office building in Sunshine Coast's Cooroy listed for sale: Savills 

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The Indooroopilly, Brisbane home of John Mullan, managing director of JG Mullan Constructions, has been listed for sale.
<a href="https://www.realestate.com.au/property-house-qld-indooroopilly-126393866" target="_blank">His contemporary home</a> in a coveted Long Pocket address has $1.75 million to $1.85 million price guidance.
The five bedrooms, four bathroom Meiers Road home spans three levels overlooking a swimming pool and manicured lawn.
There are open-plan living areas extending to a covered deck with built-in barbecue, an island kitchen with Miele appliances and an upper level rumpus room. 
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John Mullan lists Indooroopilly trophy home

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<div id="story-description">
ANZ has tightened its borrowing rules on lending to apartment buyers in Brisbane and Perth.
It will impact of financing hopes of upcoming off the plan buyers with many from interstate.
The latest blacklist of the suburbs considered high risk comes a year after the mining towns of Queensland and WA were revealed as also being on the no-go zones for bank lending.
</div>
A nervous ANZ issued a revised list of postcodes to its mortgage brokers.
Brokers have been told loan to value ratios must not breach 80 per cent for both off-the-plan and existing apartment lending, The Australian reported.
The riskier Brisbane postcodes include inner city suburbs including Fortitude Valley, Newstead and Bowen Hills. 
There are also some middle ring suburbs including Nudgee, Clayfield and Hendra.
In Perth, the list includes the CBD and East and South Perth.
The ANZ policy comes into effect on October 2.
The Australian reported it applies to apartments for both owner occupiers and investors in Brisbane and in Perth for investors on properties worth less than $3 million.
Under the tougher terms, borrowers must have a minimum deposit of 20 percent, which could equate to 30 percent if the pre-purchase valuation comes in lower than the exchange price dating from 2015 or 2016 when prices were higher.
Last year ANZ's was increased to more than 50 postcodes, concentrated mostly around Western Australia, Queensland and NSW mining towns, that described the suburbs as "not acceptable" for providing lenders mortgage insurance.
 The number of unacceptable postcodes was 30 in a 2013 previous confidential list. 
“This (September 2017) update for a handful of Brisbane and Perth locations is part of our ongoing efforts to ensure we are lending responsibly and in consideration of all our regulatory responsibilities,” an ANZ spokesperson told Australian Broker.
“We regularly look at a number of factors in relation to residential apartments to make sure we are meeting our responsibilities including supply and demand, rental yield, vacancy rates, and location.”
 
ANZ’s list of postcodes:
Brisbane: 4000, 4006, 4010, 4011, 4014, 4102, 4171.
Perth: 6000, 6004, 6104, 6151.
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ANZ's blacklists postcodes in Brisbane and Perth

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

Joel Robinson

Lendlease selected to deliver transformative South Brisbane riverfront precinct

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

First look: Level 33 upsizes Wollongong apartment towers

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

First look: Urban Property Group plans next major Wollongong tower

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

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

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

Staff reporter

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