<html><body>
Reservoir is once again the busiest weekend auction suburb this weekend, according to CoreLogic’s latest report.
The property data firm says that auction volumes will be lower for the first week of spring.
Reservoir in Victoria is the busiest suburb for auctions this week, with 17 homes scheduled to go to auction, followed very closely by Port Macquarie in NSW with 16 scheduled auctions, and Victoria’s Doncaster East and Balwyn North, with 15 and 14 auctions respectively.
The first week of Spring is expected to bring a lower volume of auctions, with 1,899 properties scheduled to go to auction this week across the combined capital cities, falling from last week when final results saw volumes reach their highest level since June (2,270).
While historically auction activity has seen an uplift over Spring, it has been noted in previous years that the first week of September usually sees a lower volume of auctions compared to the week prior.
<a href="https://www.propertyobserver.com.au/images/2017/08/31/Screen%20Shot%202017-08-31%20at%2010.34.43%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/2017/08/31/Screen%20Shot%202017-08-31%20at%2010.34.43%20am.jpg" alt="">
Results from the corresponding week last year saw 1,899 auction’s held across the combined capital cities, which is the same number of auctions we are currently tracking for this week, although as the week progresses the number of auctions is likely to see some upward revision as results are collected.
The two largest markets of Melbourne and Sydney are both expected to see a decrease in auction activity this week, with 900 properties scheduled to go under the hammer in Melbourne, down -20 per cent from the 1,124 auctions held last week, while Sydney is set to see a fall of -13 per cent, with 725 auctions scheduled this week, down from the 832 held last week.
Across the smaller auctions markets, volumes are to fall across Brisbane, Canberra and Perth week-on-week, with Adelaide the only capital city to see a rise in volumes this week, while activity across Tasmania is expected to remain unchanged.
A three bedroom house at <a href="https://www.realestate.com.au/property-house-vic-reservoir-126048358" target="_blank">53 Mahoneys Road</a>, Reservoir (above) will go under the hammer this weekend.
A three bedroom townhouse at <a href="https://www.realestate.com.au/property-townhouse-vic-reservoir-125825470" target="_blank">3/23 Lake Street</a>, Reservoir (below) will also go under the hammer this weekend.
<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/2017/08/31/3_23%20Lake%20Street.jpg" alt="">
</body></html>

j.ballantyne1990-6AQqhLzZaK

Reservoir to be busiest weekend auction hotspot: CoreLogic

<html><body><div class="article__content">
<div class="parsys parsys-article-content-top">
<div class="cq-article-content-paras section">
Mirvac has appointed investment bank UBS to seek off-market expressions of interest from institutional groups to form a club to develop and own build-to-rent housing in Australia.
A global roadshow is set to get under way this month, The Australian Financial Review has advised where the "magic number is 4.5 percent."
It's the upfront yield expected as Mirvac seeks a place within the long-hold residential investment property sector which has been thought to be too difficult in Australia partly because GST and tax on residential property income.
Hithertoo a developer like Mirvac built their apartments just to sell them, not to hold them back and rent them out. 
<div class="article__content">
<div class="parsys parsys-article-content-top">
<div class="cq-article-content-media section">
Seed project
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="213">
Forecast total cost
</td>
<td valign="top" width="213">
$163m
</td>
</tr>
<tr>
<td valign="top" width="213">
Forecast value on completion
</td>
<td valign="top" width="213">
$179m
</td>
</tr>
<tr>
<td valign="top" width="213">
Forecast completion date
</td>
<td valign="top" width="213">
June 2020
</td>
</tr>
<tr>
<td valign="top" width="213">
Forecast number of apartments
</td>
<td valign="top" width="213">
257
</td>
</tr>
<tr>
<td valign="top" width="213">
Forecast initial fully let net property yield
</td>
<td valign="top" width="213">
4.5%
</td>
</tr>
</tbody></table>
Seed project + option projects
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="213">
Forecast total cost
</td>
<td valign="top" width="213">
$668m
</td>
</tr>
<tr>
<td valign="top" width="213">
Estimated value on completion
</td>
<td valign="top" width="213">
&gt; $750m across 4 projects
</td>
</tr>
</tbody></table>
Australian BTR Club
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="213">
Forecast equity commitment
</td>
<td valign="top" width="213">
$164m
</td>
</tr>
<tr>
<td valign="top" width="213">
Target total equity investment over time
</td>
<td valign="top" width="213">
$1b
</td>
</tr>
<tr>
<td valign="top" width="213">
Location
</td>
<td valign="top" width="213">
Initially Sydney*
</td>
</tr>
<tr>
<td valign="top" width="213">
Forecast initial operating cash yield*
</td>
<td valign="top" width="213">
4.0%
</td>
</tr>
<tr>
<td valign="top" width="213">
Forecast unlevered stabilised IRR*
</td>
<td valign="top" width="213">
10.0%+
</td>
</tr>
<tr>
<td valign="top" width="213">
Initial gearing (upon seed project completion)
</td>
<td valign="top" width="213">
Nil
</td>
</tr>
<tr>
<td valign="top" width="213">
Mirvac co-investment stake
</td>
<td valign="top" width="213">
10%
</td>
</tr>
<tr>
<td valign="top" width="213">
Initial term
</td>
<td valign="top" width="213">
Development period of seed project + 7 years
</td>
</tr>
<tr>
<td valign="top" width="213">
Delivery model
</td>
<td valign="top" width="213">
Full development exposure
</td>
</tr>
</tbody></table>
* With exposure to other Australian capital cities over time
</div>
<div class="cq-article-content-paras section">
According to a presentation sent to prospective investors, Mirvac is looking to raise about $164 million, initially to fund a seed project in Sydney Olympic Park.
The club will also be granted a first right of refusal over an additional three projects along the eastern seaboard with a total estimated value on completion of about $750 million. 
</div>
<div class="cq-article-content-paras section">
The expected total project investment value is $1 billion over time, in major capital cities. Projects will have at least 100 units and include dedicated management staff, and high-end amenities, all characteristic of build to rent projects. 
The club is looking at an initial fully let net property yield of greater than 4.5 per cent. Over the longer term, a forecast 10 year un-levered stabilised return of more than 8.5 per cent is expected.
Under the build-to-rent model, institutional groups apartments blocks to lease on a long-term basis.
Build to rent is thriving in the US and in Europe but is a new asset class in Australia.
The US market known as "multi-family" has been in place for 40 years with 250,000 units completed each year. 
Australia's REST Superannuation has 3000 build-to-rent apartments in the US operated by Greystar.
</div>
<div class="cq-article-content-media section">The UK has followed suit withe the affordability trend, now being in its fifth year of delivering build to rent projects. </div>
</div>
</div>
</div>
</div>
</div></body></html>

Sydney's Olympic Park to kick-off Mirvac's rent-to-build venture

<html><body><div id="story-description">
Concerns about returns from Australia's burgeoning rent-to-build sector have been put forward by the fund manager of the $120 billion AustralianSuper’s property division, according to reports in The Australian.
The Australian said the superannuation firm had some doubts about the potential performance of the assets.
AustralianSuper senior investment manager for property Christine Phillips was reported as saying demand for build-to-rent properties in Australia was clear, and their supply was under consideration by large developers, such as Lendlease and Mirvac, but returns were in question.
“I don’t dispute the demand side of it. I think that there is definitely a market for institutional owned rental — professionally run rental accommodation that treats its tenants with respect,” she said.
“They’re able to not take the development profit, they’ve probably got land that’s sitting there at a cost that makes the numbers stack up better, they’ve got the end operation that can operate it once it’s up.
“The question for everyone is what return do we need to invest in Australia, and that’s proving difficult.”
</div></body></html>

Concerns about returns from Australia's burgeoning rent-to-build sector

<html><body>
Residents in Perth are very careful when upgrading or renovating their homes, according to a recent Herron Todd White report.
The property investment firm says that this is due to lack of consumer confidence.
“The Western Australian economy has been haunted by a lack of consumer confidence over the past couple of years, hence home owners have utilised a high degree of caution when it comes to upgrading or extending their homes.
“Similarly, the prospect of paying stamp duty in a subdued economy has stalled transactions of established dwellings unless the product is highly desired by the market.
“The problem with undertaking a renovation project in a subdued market is that there is always a risk that the expenditure will not reflect a direct increase in capital value.
“This has definitely been an issue in the Perth residential market in previous years and also extends to the new housing market.
“The issue is however exacerbated in the established housing market given the proportionately higher costs involved in extension or renovation works.
“As an example, new construction typically occurs for rates of $1,000 to $1,500 per square metre of living area.
In the situation of an extension or renovation, these rates quite commonly start at $2,000 and rise rapidly towards $3,000 per square metre for single level properties,” the report stated.
Decisions for renovations are usually done due to emotional choices Herron Todd White comments.
“Hence in the current market, decisions made to extend or renovate are most often based on emotional choices rather than financial common sense.
“They commonly occur with families in well located, established areas offering little housing variety, where the location is not willing to be sacrificed regardless of the cost of the works involved to transfer the dwelling into something more modern and comfortable,” the report commented.
Herron Todd White warns that renovating a property in a unpopular area will be particularly challenging.
“In the current market, undertaking such a project in an outlying, potentially less desirable area is likely to be particularly challenging.
“We have seen several investors follow the flip method and come unstuck, either due to the higher holding costs associated with longer selling periods or by simply mistiming the market and the market corrects downwards as money is invested into the project. Hence these projects are not for the faint hearted.
“Some typical areas that are still seeing a decent level of extension or renovation work include Duncraig in the north where a renovator’s delight can be obtained for a little over $500,000, but well renovated properties can achieve in the $800,000s.
“The suburb is well located, being close to the coast but with good transport links to the CBD.
“An example in the south is Parkwood, where entry level housing sits at around $400,000 and good product can nudge past $600,000.
“The area offers little variety of housing but is well established with good sporting, shopping and employment centres in close proximity.
“Also in the south, the suburb of Melville has seen a significant amount of redevelopment along with restoration of the original cottages.
“The suburb is garnering interest due to its proximity to the Swan River and Fremantle and proximity to more upmarket and sought after suburbs such as Alfred Cove and Attadale,” the report warns.
A four bedroom house renovation-ready at <a href="https://www.realestate.com.au/property-house-wa-duncraig-125713754" target="_blank">6 Griffell Way</a>, Duncraig (above) has been listed for $699,000.
Similarly a renovation-ready three bedroom house at <a href="https://www.realestate.com.au/property-house-wa-melville-123699462" target="_blank">29 Shelshaw Street</a>, Melville (below) has been listed from $769,000.
<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/2017/06/20/29%20Shelshaw%20Street.jpg" alt="">
Being careful is a top priority for home owners that plans on renovations in the near future Herron Todd White says.
“All in all, we would urge caution for any home owner considering undertaking an extension or renovation project in the current market place.
“It would be wise to speak to multiple builders to ensure you are getting the most competitive quote and seek the advice of a local property valuer to ensure that you understand the risk and reward equation prior to committing to anything,” the report stated.
</body></html>

Perth residents careful when upgrading or renovating properties: HTW

<html><body>
Renovation in Echuca is generally done in lower market segments, according to recent Herron Todd White report.
The property investment firm says that most older residences are taken down to make way for new buildings.
“Renovation is generally completed in the lower market segments where the finished product will be at an affordable rate while not competing with new stock.
“Interestingly there has been limited demand for centrally located properties to be renovated with most older residences being demolished to make way for new builds.
“Longer term investors have also been known to renovate (including bathroom, kitchen and a general spruce up) basic dwellings in reasonable locations with a view to achieving a substantially higher rental based on a long term hold.
“This approach has been relatively good based on strong rental demand at the current time.
“Care needs to be taken in many instances not to over capitalise in upper market segments in order not to compete with new housing stock albeit in secondary locations,” the report stated.
A recently renovated house at <a href="https://www.realestate.com.au/property-house-vic-echuca-125229202" target="_blank">1 Jamieson Drive</a>, Echuca (above) has been listed for $359,000.
Similarly a two bedroom house that is in need of renovations at <a href="https://www.realestate.com.au/property-acreage+semi+rural-vic-strathallan-120286521" target="_blank">Lot 3/920 Burgoine Road</a>, Strathallan (below) has been listed for $175,000.
<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/2017/06/20/Lot%203_920%20Burgoine%20Road.jpg" alt="">
</body></html>

Echuca renovations uncommon for higher market segments: HTW

<html><body>
Investor interest in Mount Gambier is high, according to Herron Todd White’s latest August report.
The property investment firm says that investors are interested in a range of property types.
“Investor interest in the Mount Gambier region has been relatively good in recent years.
“A range of property types, such as units, maisonettes and house and land packages in modern divisions, appeals to investors in the area
“Local and out of town investors are purchasing properties in Mount Gambier. Local investors typically spend less on a property and will generally lean towards units rather than house and land packages.
“In comparison, out of town investors often have larger budgets and will invest in properties that provide good yields, such as flats or house and land packages,” the report stated.
Different investors will have a different preference on what type of property they want to invest in Herron Todd White says.
“Local investors generally look at properties in the mid range whereas out of town investors look at properties in the low or high range.
“In recent years there has been limited capital growth in the Mount Gambier region.
“However, in comparison to cities and other regional areas, the returns on properties within the region are considered quite good and are therefore attractive for investment properties.
“New modern divisions have been targeted by out of town investors in recent years.
“These modern divisions have had bigger marketing campaigns that purely focus on drawing in investors,” the report commented.
Unit sales in the Mount Gambier region is increasing Herron Todd White advises.
“In recent years the number of unit sales occurring has been increasing and in 2016 unit sales were almost double what they were in previous years.
“As seen in the graph below, last year there were 98 unit sales, whilst in 2013 and 2014 there were only approximately 50 unit sales.
<a href="https://www.propertyobserver.com.au/images/2017/08/04/Screen%20Shot%202017-08-04%20at%202.29.22%20pm.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/2017/08/04/Screen%20Shot%202017-08-04%20at%202.29.22%20pm.jpg" alt="">
A three bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-sa-mount+gambier-124861866" target="_blank">1/11 Bertha Street</a>, Mount Gambier (above) was recently sold for $212,000.
Built in 1987 the property is currently rented for $270 a week reflecting a rental yield of 6%.
A two bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-sa-mount+gambier-124096182" target="_blank">2/1 Hart Street</a>, Mount Gambier (below) was recently sold for $205,000.
Built in 1992 the property was last sold in 2008 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/2017/08/04/2_1%20Hart%20Street.jpg" alt="">
“A high percentage of these unit sales tends to be to investors.
“Investors are generally seen as a positive for the Mount Gambier region,” the report advised.
Investors are also keen on obtaining rental properties in the area Herron Todd White stated.
“With the recent creation of the James Morrison Academy of Music, there has been more interest from investors because there are more people looking for rental properties.
“If investor activity were to slow within the Mount Gambier region we do not consider this to significantly impact the current market.
“There would likely be a bigger impact if investors were looking to exit the market altogether, as this could create an oversupply of properties.
“If we could give any advice to investors who are thinking of buying in the Mount Gambier market, it would be to do your research on locations and look deeper than just the yield.
“It would be beneficial to look at the local industry and employment within the region and also the health of the local economy,” the report stated.
</body></html>

Interest in Mount Gambier from investors continues: HTW

<html><body>
The five-bedroom Woollahra house Icilus has been listed by the former coal baron, Brendan McPherson, and his wife, Rowena.
They want $13 million for the Ocean Street home.
They had bought it in 2010 for $8 million from the late media chief, Ian Law, and his wife, Roslyn who had bought it for $6.8 million in 2006 from Dion Werbeloff, the chief operating officer at Goldman Sachs JB Were, and his wife, Caroline Ralph-Smith.
The 1880s home was featured in Vogue Living after its Thomas Hamel makeover.
Prior to working at the Donaldson and Gloucester coal companies, McPherson worked with the Gas &amp; Fuel Corporation of Victoria.
These days McPherson runs the Rose Bay Regatta restaurant.
Nearby a <a href="https://www.realestate.com.au/sold/property-house-nsw-woollahra-126097058" target="_blank">1930s home on Edgecliff Road</a> fetched $10.1 million at auction earlier this week when sold to a Moncur Street-based neuroradiologist who outbid others including Quadrant Private Equity operative Charles Gibbon.
After an opening bid of $8 million it was neuroradiologist Jason Wenderoth who secured the home of Margaret Allsopp, of the Angus and Coote jewellery family
Allsopp, who bought it in 1972 for $126,000, has downsized to a $6 million Double Bay apartment.
The freestanding five bedroom home with harbour aspect came with a approval to develop the adjacent 157 sqm property with a two bedroom home.
Ray White Double Bay selling agent Gavin Rubinstein had expected a sale between $8 million and $8.8 million, but bidding strengthened when four parties competed from $9 million onwards when auctioned mid-week through Ray White's James Keenan.
Recently the Rosemont Avenue home of Monaco-based mining magnate Chris Kyraikou and his estranged wife Phoebe fetched $10 million plus. 
 
</body></html>

Five-bedroom Woollahra house Icilus listed amid trophy home sales spree

<html><body>
The Director of Consumer Affairs Victoria has issued a public warning under section 223 of the Australian Consumer Law (Victoria) (ACL(Vic)) and section 228 of the Australian Consumer Law and Fair Trading Act 2012, regarding the conduct of Craig Alan McIntosh in the supply of real estate services.
<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/2017/08/31/Craig%20Alan%20McINTOSH%20%20July%202017.jpg" alt="">
The department has issued an image of Craig McIntosh (pictured above) given its concerns he has not and has never been a licensed estate agent.
On 17 March 2015, Consumer Affairs Victoria obtained injunctions against Mr McIntosh under the ACL (Vic), barring him from acting as an estate agent until he was licensed to do so.
While Mr McIntosh is eligible to be employed an agent’s representative, Business Licencing Authority (BLA) records currently show he is not employed by any real estate agency.
On 16 February 2017, Mr McIntosh ceased employment as an agent’s representative with a licensed estate agent operating under various trading names, including:
<ul>
<li>McIntosh Lincoln</li>
<li>McIntosh Lincoln City Residential, and</li>
<li>McIntosh Lincoln Property Concierge.</li>
</ul>
The estate agency was located at Level 11/180 Russell Street, Melbourne.
Consumer Affairs Victoria has been informed that since 16 February 2017, Mr McIntosh has held himself out to be able to:
<ul>
<li>engage in providing real estate services, and</li>
<li>receive funds on behalf of people selling or purchasing real estate.</li>
</ul>
The CAV is concerned that Mr McIntosh is continuing to:
<ul>
<li>undertake the business of an estate agent while not being licensed as an estate agent </li>
<li>hold himself out to be an agent’s representative while not under the supervision of a licensed estate agent, and</li>
<li>request payments for the purchase of real estate into a bank account that is not an authorised trust account and to which he has sole access.</li>
</ul>
The CAV is also concerned that any money provided to Mr McIntosh since 16 February 2017 may not be considered trust money under the Estate Agents Act 1980, and will therefore not be protected under the Victorian Property Fund.
"Until further notice, consumers are warned to not engage Mr McIntosh's services as an estate agent or provide him with any money for the purchase of real estate," the department has warned.
Any consumer who has been approached by Mr McIntosh since 16 February 2017 in relation to the purchase or selling of real estate, or has provided or been asked to provide any form of payment to him in relation to any real estate transaction, can contact us on 1300 55 81 81. 
In 2015 Sunnymac Pty Ltd, trading as McIntosh City Residential, and its director Craig Alan McIntosh, were first restrained from carrying on business as a real estate agent until licensed to do so, by order of the Melbourne Magistrates’ Court.
The court accepted that Sunnymac (ACN 1199 107 08) and Mr McIntosh, then 48, of Southbank, contravened the Estate Agents Act 1980 by acting as an estate agent without a licence. 
The court granted an injunction restraining Sunnymac and Mr McIntosh from acting as an estate agent in any way, including in any statements or advertising. 
Consumers are strongly encouraged to deal only with licensed estate agents when buying or selling property.
</body></html>

CAV public warning on Craig McIntosh over real estate transactions

<html><body>
The plans for the South Quarter of the Auto Alley, Church Street, Parramatta by developer Dyldam have been unveiled.
It is a $876 million residential mixed-use project on the former Holden car yard on 57, 63 and 83 Church Street.
It is set to become the 1.4-hectare "South Quarter" precinct, with five residential and commercial buildings as well as an internationally branded hotel.
Dyldam confirmed there would be more than 750 apartments along with 40,000 square metres of retail and commercial space.
The buildings will range between 10 and 42 storeys, set around 450 metres from the Parramatta Rail and Bus Interchange.
<div class="article__content">
<div class="parsys parsys-article-content-top">
<div class="cq-article-content-media section"><img class="lazy620x0" src="https://www.afr.com/content/dam/images/g/y/7/7/7/x/image.imgtype.afrArticleInline.620x0.png/1504068599574.jpg" alt="Artist impression of South Quarter of a planned development of Auto Alley on 57, 63 and 83 Church Street, Parramatta." width="620" data-src="https://www.afr.com/content/dam/images/g/y/7/7/7/x/image.imgtype.afrArticleInline.620x0.png/1504068599574.jpg"></div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-paras section">
"Being a major corporate resident in the Parramatta area since 1969, we are very proud to be creating this dynamic new precinct in the city," Dyldam chief operating officer Fayad Fayad told Fairfax Media.
</div>
<div class="related-quotes section">Dyldam will start its pre-sales campaign for the apartments in SQ1 tower in October with prices starting from under $500,000 for apartments,.</div>
<div class="related-quotes section"> </div>
<div class="related-quotes section">Construction completion for the first residents in South Quarter is 2022, he said.</div>
<div class="cq-article-content-paras section">
Dyldam beat contenders including AV Jennings for the coveted site in 2015 with the City West Joint Regional Planning Panel approving the site masterplan in 2016 with its Allen Jack+Cottier design.
</div>
<div class="cq-article-content-media section"><img class="lazy620x0" src="https://www.afr.com/content/dam/images/g/y/7/7/7/n/image.imgtype.afrArticleInline.620x0.png/1504071552637.jpg" alt="Artist's impression of the South Quarter precinct of Dyldam's planned development of Auto Alley on 57, 63 and 83 Church ..." width="620" data-src="https://www.afr.com/content/dam/images/g/y/7/7/7/n/image.imgtype.afrArticleInline.620x0.png/1504071552637.jpg"></div>
<div class="cq-article-content-media section"> </div>
</div>
</div>
</body></html>

Dyldam to launch South Quarter, Parramatta in October 

<html><body>
The 1908 Toorak trophy home Glyn has finally settled, with the buyer emerging as JB Hi-Fi CEO Richard Murray and his partner Jacqueline Blackwell.
The couple paid $11 million for the home of lawyer Andrew Fairley and corporate adviser, Jane Stuchberry.
It's less than the $12 million plus hopes it was listed for in May last year.
The luxury Rodney Alsop designed arts and crafts style home has gabled roofs, prominent eaves and artisan features.
Restored in recent times, the six bedroom home built for BHP founding shareholder Sir Edward Miller features a tennis court and heated pool.
It previously traded at $5.1 million in 2003 when sold by recruiter Lorraine Tribe.
Kay &amp; Burton agents Darren Lewenberg and Ross Savas sold the home.
The buyers have since sold in Camberwell for $8 million.
This article first appeared in The Weekend Australian Mansion Australia section.
</body></html>

Settlement final on 1908 Toorak trophy home Glyn

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

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News