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A three bedroom Clinton, Queensland house has been listed for mortgagee sale with a price guide of $255,000.
Located at <a href="https://www.realestate.com.au/property-house-qld-clinton-126305990" target="_blank">3 Ingemar Court</a>, the 683 sqm property is located in a quiet cul-de-sac.
It last sold for $357,000 in 2013.
It features a tiled lounge room, open plan tiled kitchen and dining room as well as a separate tiled rumpus room that leads to the outside.
The kitchen features two cupboards, stainless steel as well as electric oven, rangehood, ceramic cooktop and pantry.
There are three bedrooms, all carpeted and with built-in robes, while the main bedroom has its own walk-in robe and ensuite.
The property is offered through Ros Waters of RE/MAX Energy.
A nearby three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-qld-clinton-124913574" target="_blank">27 Camille Street</a>, Clinton (below) was sold in July for $200,000.
<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/2017/09/04/27%20Camille%20Street.jpg" alt="">
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j.ballantyne1990-6AQqhLzZaK

Clinton, Queensland house listed for mortgagee sale

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There's been a slight improvement in the national auction clearance rate, according to CoreLogic’s latest report, which comes as spring auction volumes have also increased.
The combined capital city preliminary clearance rate increased to 70.2 per cent this week.
It was after last week’s revised final clearance rate fell to 66.4 per cent, which was the lowest combined capital city clearance rate so far this year, down -0.1 per cent from the previous low seen over the week ending 25 June 2017 (66.5 per cent), and also the lowest clearance rate since June 2016.
<a href="https://www.propertyobserver.com.au/images/2017/09/10/Screen%20Shot%202017-09-10%20at%2011.33.14%20am.jpg" target="_blank">Click to enlarge</a>
<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/2017/09/10/Screen%20Shot%202017-09-10%20at%2011.33.14%20am.jpg" alt="">
"It will be interesting to see what the final clearance rate looks like on Thursday once the remaining records have been captured," CoreLogic auction analyst Kevin Brogan.
Auction volumes increased week-on-week with 2,225 properties taken to auction this week, up from 2,074 last week, and higher than this time last year (2,062).
<a href="https://www.propertyobserver.com.au/images/2017/09/10/Screen%20Shot%202017-09-10%20at%2011.33.32%20am.jpg" target="_blank">Click to enlarge</a>
<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/2017/09/10/Screen%20Shot%202017-09-10%20at%2011.33.32%20am.jpg" alt="">
Across Melbourne, preliminary results show that 73.2 per cent of the 938 reported auctions sold this week.
There were 1,097 properties taken to auction across the city, up from 976 last week when the final clearance rate was recorded at 71.3 per cent.
Over the same week last year, 974 auctions were held and a clearance rate of 78.3 per cent was recorded.
The Inner region of Melbourne had the highest number of auctions this week (214), with a preliminary clearance rate of 71.7 per cent.
<a href="https://www.propertyobserver.com.au/images/2017/09/10/Screen%20Shot%202017-09-10%20at%2011.33.49%20am.jpg" target="_blank">Click to enlarge</a>
<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/2017/09/10/Screen%20Shot%202017-09-10%20at%2011.33.49%20am.jpg" alt="">
However, the strongest rate of clearance was recorded across the North West region, where 86.6 per cent of the 82 reported auctions were successful.
7 of the 9 sub-regions recorded clearance rates above 70.0 per cent.
Sydney was host to 810 auctions this week and a preliminary clearance rate of 72.3 per cent was recorded, rising from 65.5 per cent last week across 779 auctions, although this will fall over the week.
One year ago, 758 auctions were held across Sydney and 80.6 per cent were successful.
Looking at the sub-regions of Sydney, 4 of the 15 sub-regions recorded clearance rates above 75.0 per cent with the stand outs being the Northern Beaches (85.5 per cent), Ryde (81.2 per cent) and Baulkham Hills and Hawkesbury (80.0 per cent) regions.
<a href="https://www.propertyobserver.com.au/images/2017/09/10/Screen%20Shot%202017-09-10%20at%2011.34.01%20am.jpg" target="_blank">Click to enlarge</a>
<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/2017/09/10/Screen%20Shot%202017-09-10%20at%2011.34.01%20am.jpg" alt="">
The lowest clearance rate was recorded across the Sutherland region where 57.1 per cent of the 42 reported auctions were successful.
The preliminary clearance rate in Brisbane this week was 43.9 per cent, down from 45.6 per cent last week.
Auction volumes were similar this week with 137 auctions held, compared to 138 last week.
<a href="https://www.propertyobserver.com.au/images/2017/09/10/Screen%20Shot%202017-09-10%20at%2011.34.11%20am.jpg" target="_blank">Click to enlarge</a>
<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/2017/09/10/Screen%20Shot%202017-09-10%20at%2011.34.11%20am.jpg" alt="">
Meanwhile, across the Gold Coast, 29.4 per cent of the 34 reported auctions were successful.
In Adelaide, a 67.2 per cent preliminary result was recorded this week across 74 auctions.
Last week, 76 Adelaide auctions returned a clearance rate of 50.0 per cent for the city, while at the same time last year, 88 homes were taken to auction, with 68.0 per cent recording a successful result.
<a href="https://www.propertyobserver.com.au/images/2017/09/10/Screen%20Shot%202017-09-10%20at%2011.34.23%20am.jpg" target="_blank">Click to enlarge</a>
<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/2017/09/10/Screen%20Shot%202017-09-10%20at%2011.34.23%20am.jpg" alt="">
Perth’s clearance rate of 36.8 per cent across 19 auction results is lower than last week, when 26 auctions were held and a clearance rate of 62.5 per cent was recorded.
Over the same week last year, the clearance rate was a lower 27.3 per cent, and 29 auctions were held.
Across Canberra, 72 homes were taken to auction this week.
Preliminary results show a clearance rate of 69.2 per cent, up from 66.1 per cent the previous week.
Tasmania was host to four auctions this week and so far three have been reported with just one successful sale.
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Spring auction volumes on the rise: CoreLogic 

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Home loan demand rose for the third consecutive month, according to new data.
The Australian Bureau of Statistics’ Housing Finance data showed 56,464 home loans were approved over the month of July, up 2.9% from the previous month.
“July was the third consecutive month of growth for home loan approvals,” Mortgage Choice chief executive officer John Flavell said.
“Historically low interest rates are helping to keep heat in the property market and borrowers are clearly keen to take advantage of this.”  
While the number of home loan approvals rose, the value of dwelling commitments fell 0.9% to $33.03 billion over the month of July.
“This can be attributed to the drop in the value of investment loans approved.
“During the month of July, $12.06 billion in investment loans were approved – down 3.9% from the previous month.
“I am not surprised to see a downwards shift in investment demand," he said.
Changes have made it hard for some investors to qualify for finance.
Looking ahead, Mr Flavell said he expected home loan demand to be strong.
“We are now in spring, which is generally the busiest period for the property market, so I would expect to see home loan demand remain robust."
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Home loan demand rises for third consecutive month

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<div class="cq-article-content-paras section">
Rino Grollo, the owner of Victoria's Mt Buller ski resort, has purchased his first two lots at rival, Mt Hotham.
Mr Grollo, who with his wife Diana co-owns development company Grollo Group, paid $360,000 for two contiguous lots covering 1100 square metres.
They were bought last week in an auction of 21 sites by UK theme park operator Merlin Entertainments.
The two lots come with the potential for up to eight apartments on each block.
Fairfax Media reported it was "a bit of an impulse thing."
The auction secured the sale 17 of the 21 sites, a mixture of freehold and leasehold through John Castran. Prices ranged from $170,000.
The lots are on a former state government site known as the Hotham Chalet, which was first owned by the then Victorian Government Railways.
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<div class="cq-article-content-paras section">
Merlin, the world's second biggest entertainment group behind Disney, anticipated $3 million from selling the sites it acquired when it bought the site from James Packer's private company Arctic.
Arctic had bought it from NAB after the Gold Coast financier MFS went into liquidation in 2008.
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Grollo buys building sites on Mt Hotham

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Property NSW, on behalf of Family and Community Services, has sold the historic Workers Dwellings in Millers Point for $26 million.
Located between 30 Lower Fort Street and 4 Trinity Avenue, the three-storey block of 33 apartments was built by the Sydney Harbour Trust in 1910.
Following closure of a public tender process, the historic building was sold via negotiations managed by McGrath Estate Agents.
Buyers will have another opportunity to purchase a slice of history in Millers Point, with the following properties entering the market today:
· 30 Kent Street - two duplex apartments with courtyards
· 5 Windmill Street terrace
· 75 Windmill Street terrace
· 85 Lower Fort Street terrace
· 52 Gloucester Street terrace
· 63 Kent Street terrace
· 26 Argyle Street terrace
The properties will be auctioned by McGrath on 11 October 2017.
Proceeds from the Millers Point sales program have delivered over $448 million for investment in new social housing developments in NSW.
As at July 2017, a total of 625 dwellings have been completed and an additional 452 dwellings are currently under construction as a result of the Millers Point sale.
For more details please visit <a href="https://www.rediscovermillerspoint.com.au" target="_blank">www.rediscovermillerspoint.com.au</a>.
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Apartment block in Millers Point sells for $26 million

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With a rare off-note for Melbourne, the singer songwriter Tina Arena's Fitzroy property was passed in on a vendor bid of $1.75 million at weekend auction.
There is now a $1.795 million asking price for the Fitzroy terrace which Arena, one of Australia’s highest selling female artists, has restyled since paying $1.38 million in August 2015.
But Melbourne did record the nation's highest result when an Edwardian ere home in Middle Park house sold for $6.4 million, shortly after being passed in at $6.25 million through Marshall White Port Phillip.
Located at <a href="https://www.realestate.com.au/sold/property-house-vic-middle+park-126188014" target="_blank" rel="noopener noreferrer">136 Page Street</a>, there were three bidders for the five bedroom home that had last sold in 2015 for $5.5 million.
There's been a slight improvement in the national auction clearance rate, according to CoreLogic’s latest report, which comes as national spring auction volumes have increased on the second spring weekend.
The combined capital city preliminary clearance rate rose to 70.2 per cent for the week.
It was after last week’s revised final clearance rate fell to 66.4 per cent, which was the lowest combined capital city clearance rate so far this year, and the lowest since June 2016.
The clearance rate was lower than this time last year in all capitals, except Perth.
Auction volumes increased week-on-week with 2,225 properties taken to auction, up from 2,074 last week, and higher than this time last year (2,062).
Melbourne had the most auction stock and the highest success rate.
Its preliminary results had 73.2 per cent of the 938 reported auctions sold this week.
There were 1,097 properties taken to auction, up from 976 last week when the final clearance rate was recorded at 71.3 per cent.
Over the same week last year, 974 auctions were held and the clearance rate was 78.3 per cent.
Melbourne's strongest clearance was across the North West region at 86.6 per cent.
Some seven of the nine sub-regions of Melbourne recorded clearance rates above 70 per cent.
The cheapest sale was when a one bedroom West Footscray apartment sold for $208,000.
Located at <a href="https://www.realestate.com.au/property-apartment-vic-west+footscray-126187274" target="_blank" rel="noopener noreferrer">20/697 Barkly Street</a>, the 33 sqm unit was marketed by Century 21 agent Yogi Flis with $195,000 to $214,000 hopes.
It has last sold at $45,500 in April 1989 and $17,950 in March 1976.
Sydney was host to 810 auctions this week with a preliminary clearance rate of 72.3 per cent, rising from 65.5 per cent last week across 779 auctions, although CoreLogic auction analyst Kevin Brogan advised this will fall over the week as late results come in.
One year ago, 758 auctions were held across Sydney and 80.6 per cent were successful.
The lowest clearance rate was across the Sutherland region where 57.1 per cent of the 42 reported auctions were successful.
Sydney prices peaked in Pymble where a six bedroom house sold for $5.7 million. It was among the increasing numbers of pre-auction sales.
Domain noted sold priors sat at 145 up from 109 in the previous weekend, given the increased paucity of active auction. buyers, with vendors taking what was on the table.
Located at <a href="https://www.realestate.com.au/sold/property-house-nsw-pymble-126159310" target="_blank" rel="noopener noreferrer">33 Pymble Avenue</a>, the 2100 sqm property had been marketed as the "pinnacle of prestige in Pymble."
Domain chief economist Andrew Wilson said the spring selling season was shaping up to be one of the slowest in five years.
"It is becoming a much more level playing field between buyers and sellers," Dr Wilson said.
The preliminary clearance rate in Brisbane this week was 43.9 per cent, down from 45.6 per cent last week.
Auction volumes were similar this week with 137 auctions held, compared to 138 last week.
A two bedroom Macleay Island house sold for $138,000 making it regional Brisbane's cheapest sale.
Located at <a href="https://www.realestate.com.au/property-house-qld-macleay+island-126089966" target="_blank" rel="noopener noreferrer">29 Nugent Street</a>, the 665 sqm property was marketed as an excellent investment return proposition having been offered recently as a $250 a week rental.
Built in 2006, it was offered last October at $245,000, with reduced $180,000 hopes in June this year. 
Situated in a quiet part of the island it was marketed as fully Crimsafe screened.
Brisbane's top sale was a Hamilton house sold for $2.58 million.
Located at <a href="https://www.realestate.com.au/property-house-qld-hamilton-126168626" target="_blank" rel="noopener noreferrer">11 Czar Street</a>, the four bedroom 1930s property was redesigned by architect Derek Trebilcock and interior designer Mary Durack.
Last sold for $1.14 million in 2009, the property was offered through Ray White agent Matt Lancashire.
In Adelaide, a 67.2 per cent preliminary result was recorded this week across 74 auctions.
Last week, 76 Adelaide auctions returned a clearance rate of 50 per cent for the city, while at the same time last year, 88 homes were taken to auction, with 68 per cent recording a successful result.
A three bedroom Vista house, 13 kms from the CBD, sold for $315,000 making it Adelaide’s cheapest weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-house-sa-vista-126109418" target="_blank" rel="noopener noreferrer">1407 Grand Junction Road</a>, the property is ripe for renovation.
Built in 1972 it last sold in 2011 for $330,000.
A classic 1925 Myrtle Bank house that sold for $1.27 million was Adelaide’s most expensive sale.
Located at <a href="https://www.realestate.com.au/sold/property-house-sa-myrtle+bank-126227630" target="_blank" rel="noopener noreferrer">31 Ferguson Avenue</a>, the renovated four bedroom bungalow on 1010 sqm last sold for $317,000 in 2000.
Perth’s clearance rate of 36.8 per cent across 19 auction results compared to the 27.3 per cent last year.
Across Canberra, 72 homes were taken to auction on the weekend.
Preliminary results show a clearance rate of 69.2 per cent, up from 66.1 per cent the previous week.
A mountain-view five bedroom Deakin house sold for $1.675 million making it Canberra’s most expensive weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-house-act-deakin-126193006" target="_blank" rel="noopener noreferrer">36 Norman Place</a>, the two storey brick house on 679 sqm also has glimpses of the lake.
Situated in a cul-de-sac, it last sold for $363,000 in 1998.
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Melbourne remains the auction powerhouse in early 2017 spring auctions

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Trading in McGrath shares were without fanfare this morning despite speculation there could be some serious activity today.
There were just four small trades in the first two hours.
Any block trade was likely to come after the trading closed, after market today, rather than as massive special.
Despite the perceived overhang, the share price has gone up a touch in recent days. 
TRADING SUMMARY
<a href="https://www.propertyobserver.com.au/images/2017/09/08/Screen%20Shot%202017-09-08%20at%2012.07.11%20PM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/09/08/Screen%20Shot%202017-09-08%20at%2012.07.11%20PM.png" alt="">
A block trade, which is being handled by stockbroker Wilsons, was to become available for purchase after some 46.3 per cent of shares in the company was due to come out of escrow.
The Drummoyne-based activist investor Matthew Donnellan was reputedly lining up to acquire a designated 15 percent stake.
The shares are being mostly offered to the market by former McGrath agents and senior executives.
The 14.66 percent stake would make the second biggest shareholding behind founder John McGrath.
The 14.66 per cent combined stake in McGrath was created by the shares of former McGrath director of sales Matt Lahood, Geoff Lucas the former McGrath chief operating officer who has since moved to artisan bakery group Sonoma, and former agents Ben Collier, Stephen Chen, the Leichhardt agent Shad Hassen and Brad Gillespie, along with a remaining McGrath agent Bethwyn Richards.
The rival real estate agents - now at The Agency - hope selling the shares as a block could achieve a premium price.
McGrath CEO Cameron Judson previously advised McGrath remained a "a long-term holder of stock" but didn't advise further on any future purchasing or privatisation plans.
More than half of the shares set to come out of escrow are owned by founder John McGrath.
Later this month another 7 per cent of shares owned by Shane Smollen and other Smollen associates come out of escrow .
Last month, The Australian Financial Review's Street Talk column reported that Anchorage Capital, Adamantem Capital, Advent Partners and Crescent Capital Partners were among firms taking a close look at the country's third-biggest real estate sales group.
The shares floated at $2.10 in the initial public offering in late 2015. 
McGrath shares closed at 76 cents on Thursday and we at 78 cents today.
Perpetual and Argo rank as third and fourth largest shareholders.
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All quiet on the McGrath share trading front

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<div class="cq-article-content-paras section">
The West Australian government is predicting the state's five-year residential property downturn is set to end.
Forecasts in the McGowan government's maiden budget suggest a modest rebound in Perth's median house price in 2018.
The government budget papers tip the median house price to improve 0.7 per cent next year then 1.5 per cent in 2019-20 and 2.7 per cent in 2020-21.
This follows a 1.3 per cent fall during this financial year. 
House prices also fell 2.8 per cent in 2016 and 1.2 per cent in 2015. 
The government blamed the downturn on a housing oversupply between 2013 and 2016.
The government will impose a 4 per cent tax on property purchases by offshore buyers from January 1 2019, which will generate $49 million over the forward estimates. 
Lino Iacomella, Property Council WA Executive Director said the McGowan State government has delivered a fair budget for tough times.
“The decision not to increase key WA property taxes in the 2017/18 budget is welcome and it recognises that the property sector has carried its fair share of the burden in earlier budgets," he said.
“Not increasing key property taxes like land tax and stamp duty will give added confidence to the recovery in WA’s property market.
“The focus on METRONET and infrastructure in the WA Budget is welcome news for the property and construction industry."
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<div class="cq-article-content-paras section">
 
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WA budget tips modest price recovery for Perth

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A three bedroom Holloways Beach, Queensland house has been listed for mortgagee sale.
It is listed for September 26 ReMax auction.
Located at <a href="https://www.realestate.com.au/property-house-qld-holloways+beach-126296438" target="_blank">38 Oak Street</a>, the 658 sqm property is marketed as having endless possibilities
Built in 1970 it last sold for $262,500 in 2006.
It features three bedrooms and a functional kitchen as well as an undercover timber deck.
It is within close proximity to the Cairns CBD and is a short drive to the Smithfield Shopping District.
The median house price at Holloways Beach is $385,000, with $377,000 for three bedroom offerings.
Another three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-qld-holloways+beach-125510746" target="_blank">83 Baronia Crescent</a>, Holloways Beach (below) was sold in June for $365,000.
<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/2017/09/04/83%20Baronia%20Crescent.jpg" alt="">
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Three bedroom Holloways Beach, Queensland house listed for mortgagee sale

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<div class="cq-article-content-paras section">
The ASX-listed developer Desane Group is fighting the compulsory acquisition of its residential site in the Sydney inner west suburb of Rozelle.
The government, through the Roads and Maritime Services, offered to pay Desane $18.4 million for its 5274sq m site at at <a href="https://desane.com.au/for-lease/68-72-lilyfield-road-rozelle/" target="_blank">68‐72 Lilyfield Road</a>, for a WestConnex staff car park.
When asked how he would describe the State Government’s dealings with Desane chairman,  Professor Sheehan said: “In terms of RMS, who we’ve been dealing with, I can only say that they have been mean and tricky."
The Daily Telegraph reported Desane has started proceedings in the NSW Supreme Court seeking that the State of NSW, RMS and the Sydney Motorway Corporation be “restrained from acting upon or taking any step, in reliance upon a Proposed Acquisition Notice (PAN)” issued by RMS.
The site could yield a 200-apartment complex worth more than $100 million.
The raw site was listed on Desane's books as having a market value of $17.5 million.
</div>
<div class="cq-article-content-media section">The WestConnex M4-M5 Link "Environmental Impact Statement" advised the site would be acquired for "Light Vehicle Parking" for construction staff working on stage three of the project.</div>
<div class="related-quotes section"> </div>
<div class="related-quotes section">"We humbly assert that the total acquisition of our property for multiples of millions of dollars is an incredibly wasteful way to achieve this purpose, and comes at a significant opportunity cost to our company, its shareholders and the NSW taxpayer," Desane chairman Professor John Sheehan said in a letter to the NSW Premier Gladys Berejiklian.</div>
<div class="cq-article-content-paras section">
"There is a view that the government has performed poorly in the area of compulsory acquisitions."
<div class="cq-article-content-paras section">
"Our property therefore presents your government with an opportunity to "get it right", curtail runaway project costs and end any potential delay associated with private properties in this corridor."
Professor Sheehan said he did not want to commence "costly litigation" against the NSW government and suggested alternatives to acquisition including a lease or licence over the site over a specific period.
</div>
<div class="cq-article-content-media section">Desane developed the site into a tech multimedia centre 20 years ago and in 2015, lodged a planning proposal to convert it into a mixed use residential property.</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">The RMS has faced opposition to its valuations.</div>
</div>
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Desane seek to stop WestConnex compulsory acquisition

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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