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The Eastern Suburb scored the highest Sydney weekend auction clearance rate, according to CoreLogic’s latest report.
The property data firm says that out of the 64 auctions in the area 81.3% resulted in a successful outcome.
This is followed by the City and Inner South with 79.6% and North Sydney and Hornsby with 75.3%.
<a href="https://www.propertyobserver.com.au/images/2017/09/04/Screen%20Shot%202017-09-04%20at%2011.16.39%20am.jpg" target="_blank">Click to enlarge</a>
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With only 46.5% of its 43 auctions the South West area had the lowest weekend auction clearance rate in Sydney.
A four bedroom Phillip Bay house at <a href="https://www.realestate.com.au/sold/property-house-nsw-phillip+bay-126117654" target="_blank">28 Elaroo Avenue</a> (below) was sold for $2.07 million over the weekend.
Built in 1980 it last sold in 2010 for $905,000.
A two bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-alexandria-126149070" target="_blank">119 Buckland Street</a>, Alexandria (below) was sold for $1.502 million.
Built in 1900 it last sold for $750,000 in 2010.
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j.ballantyne1990-6AQqhLzZaK

Sydney's eastern suburbs scores 81% auction clearance rate: CoreLogic

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Melbourne’s Outer East had the highest weekend auction clearance rate, according to CoreLogic’s latest report.
The property data firm says that out of the 52 auctions in the area 80.8% resulted in a successful outcome.
This is followed by the West with 79.6% and the North East with 78.5%.
<a href="https://www.propertyobserver.com.au/images/2017/09/04/Screen%20Shot%202017-09-04%20at%2011.16.47%20am.jpg" target="_blank">Click to enlarge</a>
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The Inner East region had the lowest clearance rate with only 67.8% of its auctions cleared.
A five bedroom Wheelers Hill house at <a href="https://www.realestate.com.au/sold/property-house-vic-wheelers+hill-126126226" target="_blank">17 Highwood Drive</a> (below) was sold over the weekend for $1.206 million.
It last sold in 1975 for $69,500.
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-glen+waverley-126077354" target="_blank">19 Diamond Avenue</a>, Glen Waverley (below) was sold for $1.37 million.
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Outer East Melbourne region scores highest weekend auction clearance rate: CoreLogic

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A vacant lot at Point Vernon, near Hervey Bay has been listed for mortgagee sale.
Located at <a href="https://www.realestate.com.au/property-residential%20land-qld-point+vernon-201901098" target="_blank">100 Corser Street</a>, the 641 sqm property last sold for $100,000 in 1992.
It is 15 minutes to the Hervey Bay CBD.
The property is fenced on two sides and fully serviced by water, power and sewerage.
There is kerbside guttering.
The property is being marketed as ideal to develop with Gatakers Bay close by as well as shops and cafes.
The property will be auctioned on October 8 through Scott and Katrina Mitchell from Mitchell’s Realty Hervey Bay.
CoreLogic puts the median house price as $315,000.
The latest vacant block to sell was at <a href="https://www.realestate.com.au/sold/property-residential+land-qld-point+vernon-201867902" target="_blank">18 Mant Street</a>, Point Vernon (below) which sold for $447,500 in July 2017.
The land size was 663 sqm with waterfront views.
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A cheaper block of land at <a href="https://www.realestate.com.au/sold/property-residential+land-qld-point+vernon-201733770" target="_blank">5 Montrose Close</a>, Point Vernon (below) was sold in May 2017 for $170,000.
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Point Vernon vacant land mortgagee sale 

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The Reserve Bank of Australia will leave the cash rate at a record low of 1.50 percent when it meets tomorrow.
RateCity.com.au’s analysis of 22 domestic and economic indicators found 17 were pointing to the RBA leaving the cash rate on hold, where it has been since August 2016.
RateCity.com.au money editor Sally Tindall said there was no compelling reason for the Reserve Bank to change monetary policy.
“The RBA would like to hike rates, but the high Australian dollar, combined with low wages growth and low inflation will keep rates grounded in the short-term,” she said.
<a href="https://www.propertyobserver.com.au/images/2017/09/04/image002.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/09/04/image002.png" alt="">
“The economy is moving steadily rather than spectacularly, so the logical option is for the Board to hold fire until there are major changes in the key economic indicators.
“This means the RBA is currently playing a waiting game.
“They won’t want to move rates until families get some relief from the current cost of living pressures. With little relief in sight, they’re likely to hold off until next year.
“The other complicating factor is that the banks already increased rates in the first half of this year so we’ve actually experienced an unofficial tightening of monetary policy, despite no official change in the cash rate,” said Ms Tindall.
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RBA set to leave cash rate at 1.50 percent

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A four-bedroom home at 7 The Scarp, Castlecrag sold at weekend auction for $3.4 million through Phillips Pantzer Donnelley.
The Alex Popov-designed residence is known still among the neighbourhood as "Jane Campion's house."
But it was offered by Axolotl co-founder Kris Torma and his partner, Suzanne Dutton.
The Oscar-winner had sold the property in 2008 for $1.65 million.
Leonard Teale, the 1970s actor known for his role in TV drama Homicide, called The Scarp property home until he died in 1994, and his wife Liz Teale sold it in 1998 for $900,000.
The price guidance was $3 million to $3.3 million.
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Alex Popov-designed Castlecrag trophy sold

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A four bedroom riverfront Teneriffe house sold for $4.8 million at weekend auction making it Brisbane’s most expensive weekend result.
Located at <a href="https://www.realestate.com.au/property-house-qld-teneriffe-126138898" target="_blank">77 Macquarie Street</a>, it ranks among Brisbane’s most exclusive real estate.
Built in 2001, it last sold for $3.785 million in 2014 featuring three levels of riverfront living with views.
The master suite has a walk-in robe as well as ensuite along three other bedrooms.
There is also a study and multiple living areas.
The property has 365 sqm of riverfront allotment with 488 sqm of living space.
There are also TV room/library and outdoor area.
Other features includes three car lock up garage, garden and wine storage.
The property was offered through Ray White agents Matt Lancashire and Brandon Wortley for the real estate developer and horse enthusiast Jon Haseler.
Haseler, who owns leading stud Glenlogan and is the managing director of QM Properties, paid $3,785,000 for the home on the Macquarie Street riverfront in 2014.
The 490 sqm freehold residence with cutting edge design is one of 23 in the Catalina development.
The home comes with games room.  
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Riverfront Catalina, Teneriffe house, Catalina, sold for $4.8 million

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Sydney’s auction market had its weakest start to the spring selling season for five years.
Domain reported Sydney's clearance rate of 67.1 per cent was down on the 67.9 per cent recorded on the last weekend of winter.
Both results sit well below the 80 per cent reported this time last year.
Saturday’s tally was the third consecutive decline in weekend rates.
"Sydney’s auction market has had its worst start to the spring selling season since 2012 with the local market clearly running out of puff over the last month," Domain economist Dr Andrew Wilson noted.
"The lower north was sharply down this weekend with just 63.3 per cent," he said.
"Inner-suburban, higher priced regions continue to generally produce the best suburban results in Sydney, but clearance rates in those areas are now consistently lower than recorded over autumn and the early winter market," he noted.
CoreLogic's entire week results were a slightly healthier 70.5 per cent across Sydney, but leading auctioneers reported a weakening trend.
Cooley Auctions secured 56 percent from its 50 plus auctions.
"A balanced or normal market clearance rate is 50 percent to 60 percent and that's where we are headed," Damien Cooley said.
Ray White Sydney auctioneer Jerome Smith said the market was patchy in some parts. 
The most expensive house sold at auction in Sydney was a five-bedroom Strathfield home.
Set on 1416 square metres at <a href="https://www.domain.com.au/73-newton-road-strathfield-nsw-2135-2013752236" target="_blank">73 Newton Road, Strathfield</a>, Devine Real Estate sold the home for $5.5 million as a deceased estate.
It was on the market for the first time in 88 years.
It was marketed as one of few remaining blocks in Strathfield with enough space for a tennis court.
The new owners planned to rent out the existing house for a year and then construct a new single residence.
Melbourne's top sale was when a grand Victorian in South Yarra sold for $7.015 million, after a contest between three bidders.
The buyers had sold the four-bedroom terrace at <a href="https://www.realestate.com.au/property-house-vic-south+yarra-126101606" target="_blank">16 William St</a> to the vendors six years ago, Abercromby’s Armadale auctioneer Tim Derham told The Herald Sun.
The current owners engaged Techne Architecture + Interior Design to renovate and extend it shortly after purchasing it for $3.755 million in 2011. 
Across Melbourne 73.5 per cent of the 839 reported auctions sold on the weekend.
There were 976 properties taken to auction across the city, down from 1,124 last week when the final clearance rate was recorded at 72.3 per cent.
Over the same week last year, 830 auctions were held and a clearance rate of 79.3 per cent was recorded.
The strongest Melbourne clearance was recorded across the Outer East region, where 80.8 per cent of the 52 auctions were successful.
There was a tie for the nation's cheapest result.
A one bedroom Brunswick East apartment sold pre-auction for $320,000 making it Melbourne’s cheapest weekend auction listing.
The 40 sqm apartment had been a $300 a week rental.
Located at <a href="https://www.realestate.com.au/sold/property-apartment-vic-brunswick+east-126135986" target="_blank">3/50A Brunswick Road</a>, the 1970s Monte Carlo apartment last sold in July 2000 for $89,950.
In Adelaide, a 1910 Mount Barker house sold for $320,000.
Located at <a href="https://www.realestate.com.au/property-house-sa-mount+barker-126003610" target="_blank">20 Albert Road</a>, the three bedroom home on the 1200 sqm block has many original features including a rare pressed tin facade.
It also has pressed tin ceilings.
There is an open fire place in most rooms.
In Adelaide, a 60.4 per cent preliminary result was recorded across 75 auctions.
While the weakest capital city, the preliminary clearance rate in Brisbane increased to 47.1 per cent, from 43.9 per cent last week.
Brisbane auction volumes were slightly lower with 136 auctions held, down from 140 last week.
But Brisbane achieved one of the highest under the hammer results for some time when a four bedroom Teneriffe house sold for $4.8 million.
Located at <a href="https://www.realestate.com.au/property-house-qld-teneriffe-126138898" target="_blank">77 Macquarie Street</a>, amid some of Brisbane’s most exclusive real estate, it features three levels of riverfront living with views.
Built in 2001 it last sold for $3.785 million in 2014.
The property, with 488 sqm of living space, was offered through Ray White agents Matt Lancashire and Brandon Wortley.
Perth’s clearance rate of 63.6 per cent across 11 auction results is up from last week, when 35 auctions were held and a clearance rate of 48.3 per cent was recorded.
Across Canberra, 69 homes were taken to auction this week.
Preliminary results show a clearance rate of 68.4 per cent, down from 71.9 per cent the previous week.
Canberra prices ranged from a $540,000 three bedroom Dunlop townhouse and a four bedroom O’Malley house that sold for $1.4 million.
Located at <a href="https://www.realestate.com.au/property-house-act-o%27malley-126136534" target="_blank">20 Numeralla Street</a>, O'Malley, the 1995-built home on a 1049 sqm block last sold for $1.23 million in 2009.
Canberra’s cheapest weekend result at <a href="https://www.realestate.com.au/sold/property-townhouse-act-dunlop-126127882" target="_blank">3/34 Sunshine Loop</a> last sold for $409,000 in 2014
CoreLogic's latest weekend update indicated that auction numbers were down for spring's opening compared to the prior weekend.
There were 2,060 properties taken to auction this week, down from 2,270 last week.
It was higher than this time last year, when 1,899 auctions.
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Sydney's weakest spring selling season start for five years

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The Central Victoria's Wimmer region farm of Victorian Farmers Federation director Ross Johns has been listed for sale.
Paradise Rise is a 3237-hectare wool growing and cropping enterprise at Navarre. 
Market expectations are in excess of $10 million, Fairfax Miedia reports.
It includes 12,000 sheep, all growing crops, and plant and equipment.
 Colliers International are the appointed agents.
The town comes with<a href="https://en.wikipedia.org/wiki/Navarre,_Victoria" target="_blank"> airfield</a>.
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Paradise Rise, Central Victoria, listed for sale

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South Australians are falling out of love with the ‘Great Australian Dream’ of a living in a house with yard, more than anywhere else in the nation.
That is according to the Bankwest Housing Density report which is released today and provides an analysis of approvals in medium density and low density housing over both the long and the short term, combined with the latest Census 2016 data.
The report reveals SA saw the lowest growth in standalone housing stock in the country, rising by just 0.5% in the five years to June 2016.
In comparison, levels of medium density housing (apartments) grew by 12.3% in the same period, signaling a shift towards apartment-style living and away from a house with a yard in SA.
Bankwest General Manager Broker Sales Stewart Saunders say the state’s slowing population growth has clearly had an impact on the types of houses found in SA.
“SA’s population growth was just 5.0% in the five years to June 2016 – the lowest of all the states - which will have had undoubted impact on the amount of new homes needed during that period,” said Mr Saunders.
Today’s new report shows the level of low density housing stock is basically static as is the amount of low density housing approvals granted in the 12 months to March – down by just 1.2%.
Medium density approvals for the same short term period declined by 10.7% over the 12 months to March.
<a href="https://www.propertyobserver.com.au/images/2017/08/16/Screen%20Shot%202017-08-16%20at%201.05.45%20pm.jpg" target="_blank">Click to enlarge</a>
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“Looking at the changes in the whole of SA and in Adelaide it’s clear to see the vast majority of new apartment style homes are being built in the capital city,” said Mr Saunders.
“Adelaide accounted for almost (97.6%) all of the state’s new medium density housing approvals in the 12 months to March,” he added.
“When we look again at the broader, national picture the data paints a picture of a country where, overall, there is a continuing long term trend towards apartment style living.
“But what is noticeable in the short term analysis is that we see that over the 12 months to March the country has experienced its biggest decline in the proportion of medium density approvals for four years,” Mr Saunders added.
Medium density approvals declined by 6.5% in the 12 months to March to 110,471, down from 118,156 the previous year.
This national decline was largely driven by declines at a state level in Queensland (down 25.6%), and Western Australia (down 27.1%).
Mr Saunders said the annual Housing Density Report had been produced as part of Bankwest’s ongoing commitment to offer insights on economic data, trends and issues of value to its customers, businesses, communities and policy makers.
“Bankwest is committed to helping customers and local businesses achieve what matters, contributing to the development of our communities and being a positive voice in the debate on the future of the economy.”
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The Great Australian Dream is going out in South Australia: Bankwest

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South Australian trophy home Craigburn Farm is on the market for between $1.175 and $1.250 million through Grant Wills of Toop &amp; Toop Hyde Park Goodwood.
The property, 21 Bonython Way, Craigburn Farm was built by <a href="https://www.realestate.com.au/property-house-sa-craigburn+farm-126169146" target="_blank">Alan Sheppard</a> and features stone benchtops, marble flooring, rich travertine tiles, deep cornices, high coffered ceilings, plush carpets, and designer soft furnishings.
The home has a formal entry and formal living area with high coffered ceilings and gas-log fire, as well as a full-size bar with stone benchtops and cellar.
The aster suite is complete with a generous walk-in robe and travertine and marble tiled ensuite. 
A kitchen offers a butlers pantry, stone benchtops and splashbacks, a built-in coffee machine and stainless steel Smeg appliances. 
A travertine paved undercroft entertaining area, complete with outdoor kitchen/BBQ – an entertainers dream! 
The home also has two water features, a solar heated pool and refined formal gardens.
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South Australian trophy home on the market

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 Australia</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 Australia'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 Australia 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 Australia files for trio of apartment towers in Campsie town centre</a>

Arada Australia 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 Australia 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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