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A Melbourne-based Italian family has listed their 153-hectare farm on the city's northern fringe.
It is tipped to sell to developers for more than $100 million.
The site at 750 Craigieburn Road East, is 23 kilometres north of the Melbourne CBD within the Urban Growth Zone.
It includes 97 hectares of developable area with the potential to yield 1700 residential lots.
Greenfield land prices in Melbourne have surged above $1 million a hectare in recent times highlighted when Chinese giant Country Garden purchased a 363-hectare site in Melbourne's west for a record $400 million,
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The Craigieburn site is being market by RPM Real Estate Group who calculate the median lot price for Craigieburn rose 28 per cent compared to the previous 12 months.
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j.ballantyne1990-6AQqhLzZaK

$100 million hopes for Melbourne fringe farm at Craigieburn

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CUA has today launched a new variable rate home loan product.   Australia’s largest credit union CUA is offering the new Advance Variable Home Loan with a competitive interest rate of 3.74% p.a (comparison rate 3.75% p.a.) for eligible new to CUA owner-occupier loans paying principal and interest repayments.
Higher rates will apply for owner-occupier interest-only loans and loans with a construction purpose.   Advance will give borrowers access to features including the flexibility to make unlimited additional repayments without penalty, free redraw of payments in advance, a mortgage offset feature (capped at $50,000) and no upfront loan establishment fee, annual or ongoing account keeping fees.
Advance is available for borrowers taking out a loan of at least $100,000, Australian Broker noted.   CUA head of product and marketing Susan Mason said that Advance is a good move for buyers looking to purchase a home to live in or for borrowers looking to bring their owneroccupier home loan to CUA for a better deal.     “We know that for many of our borrowers, having the flexibility of features like redraw and an offset account are important to managing their budget at different times in their life.
"But for many borrowers, they often compromise on these features in the hunt for a really competitive rate,” Mason said.   “Spring is traditionally a busy time for the market, with more properties for sale and more buyers shopping around."
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CUA credit union unveils 3.74% interest rate

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A six bedroom Chatswood house has sold for $5.635 million making it Sydney’s most expensive recent weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-house-nsw-chatswood-125954126" target="_blank">17 Dulwich Road</a>, the 1802 sqm property is a full brick home with timber floors.
It features a formal dining and living area as well as casual living and dining that leads to the alfresco terrace.
The kitchen features Caesar Stone benchtops and quality Miele appliances while a separate pavilion is available with a large living/games room.
There is also a studio apartment with bedroom, walk-in robe and ensuite available.
Near the entrance is a home office while upstairs are six bedrooms and a TV room with the master suite and another bedroom having their own rooftop terrace.
<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/2017/08/20/17%20Dulwich%20Road-2.jpg" alt="">
Three of the bedrooms also have their own built-in robes and the master has its own ensuite.
Other features includes a tennis court, four lock up garage and gas heated pool.
Public transport, restaurants and Chatswood shops are within close proximity of the property.
The property was offered through Chadwick Real Estate agents Lynette Malcolm and William Zhang.
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Six bedroom Chatswood home sold for $5.635 million

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A four bedroom Henley Beach South house has sold for $1.15 million making it Adelaide’s most expensive weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-house-sa-henley+beach+south-125985282" target="_blank">9 Catalina Street</a>, the property has multiple living areas including an alfresco.
It features an open plan living area that leads out to the undercover alfresco area.
The kitchen features Smeg stainless steel appliances, Asko dishwasher, Caesarstone benchtops and glass splash back.
<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/2017/08/20/9%20Catalina%20Street-2.jpg" alt="">
There are four bedrooms available, all with premium carpets, while the master bedroom has a walk-through robe as well as ensuite.
The property is close to the city, Henley square and a short stroll from Linear Park and beach.
The property was offered through Ous Property agent Laz Ouslinis.
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Four bedroom Henley Beach South house sold for $1.15 million

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A Colonial five bedroom Annerley house sold for $1.21 million making it Brisbane’s most expensive weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-house-qld-annerley-125998610" target="_blank">11 Pitt Street</a>, the 804 sqm property was built in 1914 by the Mackenzies, one of Annerley’s pioneering residents.
It last sold in 2005 for $565,000.
It features a full length verandah that has views of the landscaped gardens as well as an open plan living and dining area.
There is also a chef’s kitchen that features a 900mm Ilve stainless steel oven with gas cooktop, granite bench tops, breakfast bar and cabinets.
Outside the kitchen is an outdoor deck.
Upper level consists of three bedrooms including a master bedroom with its own front verandah, walk-in robe and ensuite.
The second and third bedroom also have access to outdoor areas with the second having its own ensuite and walk-in robe.
<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/2017/08/20/11%20Pitt%20Street-2.jpg" alt="">
Downstairs features a second living area complete with kitchen, fourth bedroom, bathroom as well as an office and workshop.
Cafes are within walking distance of the property and the Brisbane CBD is six kilometres away.
The property was offered through Place agents Nick Bekker and Lynn McGavin.
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Colonial five bedroom Annerley house sold for $1.21 million

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A four bedroom Hackett house sold for $1.06 million making it Canberra’s most expensive recent weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-house-act-hackett-126031154" target="_blank">4 Brennan Street</a>, the 958 sqm property has views of Mount Majura and Mount Ainslie.
It last sold for $405,000 in 2002.
It features a living area, separate dining room and an updated kitchen with new appliances and dishwasher.
Three of the four bedrooms have their own built-in robes.
<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/2017/08/20/4%20Brennan%20Street-2.jpg" alt="">
Outdoor is a garden with veggie patches, vines, fruit trees including apricot and pears.
Other features includes a workshop area and double garage.
The property is minutes from Mount Majura, shops, restaurants, cafes and public transport as well as the Dickson shopping area and sport facilities.
The property was offered through Luton agents Michael McReynolds and Jenny McReynolds.
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Mountain-view Hackett house sold for $1.06 million

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The City of Sydney today released an updated design for Cloud Arch – its ambitious new public artwork outside Sydney Town Hall, to be built by March 2019.
Designed by visionary Japanese artist and architect Junya Ishigami, Cloud Arch is a majestic steel arch that will soar 58 metres above George Street and increase Sydney’s pulling power on the global tourism stage, similar to Chicago’s Cloud Gate and St Louis’ Gateway Arch.
When complete, the sculpture will span from the QVB across George Street to the intersection with Park Street, with light rail and pedestrians moving underneath.
Lord Mayor Clover Moore said the construction of Cloud Arch symbolises the moment the city centre finally becomes a people’s place.
“Making our city work better for the people in it every day has been a key priority over the last decade and the light rail project is a big part of that,” the Lord Mayor said.
<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/2017/08/25/Cloud%20Arch%202.jpg" alt="">
“Light rail and the transformation of George Street finally gives our city centre a true people’s place where the pedestrianised George Street meets Sydney Town Hall and our new Sydney Square.
“Our residents and businesses have consistently told us they want more public artwork.
"Cloud Arch is our gift to the people of Sydney - a stunning marker of the day the city is finally handed back to its people.
“Cloud Arch is the most significant artwork to be built in Australia for decades and will help raise our city’s profile on the world stage.
“It will become a symbol for Sydney and a popular drawcard for residents, workers, tourists and visitors.
The updated design includes an arch that is almost doubled in size after a number of technical challenges with the initial design.
<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/2017/08/25/Cloud%20Arch%203.jpg" alt="">
Complex technical constraints beneath George Street have altered the location of the footings which in turn required alterations to the artwork’s structure.
The unforeseen constraints related to rail tunnels, retail tunnels, the Cross City Tunnel and major underground services.
Further challenges have arisen due to the light rail construction work and the City’s ability to access the site while construction works take place.
The loop of the arch has also been enhanced to better frame Sydney Town Hall, the QVB and important monuments and buildings at the heart of the city.
The new design and cost of materials, including the 140 tonnes of steel for the larger arch and a 43 per cent rise in global steel prices since December 2015, means the cost of the project has increased from $3.5 million to $11.3 million.
City staff have proposed that the increase in cost could be covered by postponing and using funds set aside for Hany Armanious’ Pavilion artwork and re-allocating savings from the public domain budget – a result of a number of voluntary planning agreements that the City struck with developers.
<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/2017/08/25/Cloud%20Arch%204.jpg" alt="">
By comparison, the cost to install Chicago’s Cloud Gate was AUD $39.2 million and St Louis’ Gateway Arch was AUD $24 million in 1965.
Councillors will consider a report detailing the updated design at a Council meeting on Tuesday 29 August.
“The value that this artwork will add to the city centre cannot be underestimated,” the Lord Mayor said.
“The additional investment will be repaid many times over through the hundreds of thousands of visitors that will visit Sydney to view the artwork, dine at nearby eateries and spend money at local businesses, boosting the local economy.
“It will become one of the most photographed landmarks in our city and add to Sydney’s standing as one of the world’s great cultural capitals.”
Business, arts and community figures have voiced their support for Cloud Arch and its potential to enhance Sydney’s standing on the world stage.
Sydney Business Chamber Executive Director Patricia Forsythe said: “We congratulate the City of Sydney for its commitment to public art in the city.
“Art is always subjective and the fact is, this sculpture will be a major talking point and will enhance the city’s pulling power.
“We know Cloud Arch will be of interest to visitors and will add to the many attractions that Sydney has to offer.”
Mirvac CEO Susan Lloyd-Hurwitz said: “Public art can really make a place come to life; it's capable of transforming otherwise ordinary places into living landmarks, drawing visitors and defining areas where people gather and meet.”
Carnival Australia Executive Chairman Ann Sherry AO said: “I think cities improve both liveability and attractiveness to visitors by incorporating art into public space.
“It shifts perception, delights visually and great cities support artists by showcasing their work.”
<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/2017/08/25/Cloud%20Arch%205.jpg" alt="">
Art Gallery of NSW Director Dr Michael Brand said: “The increase in the scale of Ishigami’s proposed design greatly adds to its appeal and promises to be even more compelling that the original concept.
“I have no doubt it will bring significant international attention to Sydney.”
Museum of Contemporary Art Director Elizabeth Ann McGregor said: “Such works of art have the capacity to be game changers, attracting attention well beyond the immediate environment.
“The inevitable difficulties in delivering them are quickly outweighed by the impact – all the initial criticism of Antony Gormley’s Angel of the North is long forgotten, as it has become the symbol of the regeneration of the City of Gateshead in the UK.”
Penelope Seidler AM said: “Cloud Arch will be the most exciting design to emerge on the Sydney scene since the Opera House.
“I know it will become a Sydney icon. The sculpture demands views from all angles, it is puzzling and beautiful as well as an engineering masterpiece.”
Committee for Sydney Chairman Michael Rose AM said: “We're really pleased to hear that the City of Sydney has decided to proceed with the Cloud Arch.
“We think it's going to be an extraordinary piece of public sculpture, that's going to define an important part of the city.
“We're looking forward to seeing it and are sure that it's going to become a much loved part of our city.”
John Kaldor AO said: “Cloud Arch is a sublime work arching towards the sky defining Sydney’s ambition. It is a great example of what public art can offer.”
Sydney Community Foundation Chair Michael Lynch AO CBE said: “Junya Ishigami has created an architectural wonder work for a very important piece of public space in a city that needs to lift its spirits and aspire to better and kinder ways of building our town. I love the imagination and aspiration behind this work.”
Grasshopper Bar owner Martin O’Sullivan said: “Art draws people to the city and the more people we have in the city, the more money is spent at small businesses.
“We’ve seen the impact public art can have with Art &amp; About. It also changes the way people move around the city and their perceptions of its liveability.
“Cloud Arch will be another reason for people from interstate and overseas to visit Sydney.”
The Grounds co-founder and creative director Ramzey Choker said: "Supporting the growth of the CBD through this iconic landmark will continue to evolve Sydney's experience and inject life into our city.
“It demonstrates that we are invested in creativity, culture and building communities.”
<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/2017/08/25/Cloud%20Arch%206.jpg" alt="">
Once approved, construction of Cloud Arch is expected to be complete before March 2019.
For media inquiries or images, contact City of Sydney Senior Media Advisor Alex Cauchi.
Phone 0467 803 815 or acauchi@cityofsydney.nsw.gov.au 
For interviews with Lord Mayor Clover Moore, phone 02 8974 4165 or email media@clovermoore.com.au
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Possibly iconic artwork signals day Sydney becomes "a true people’s place"

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Mortgage broking firm Yellow Brick Road chief Mark Bouris has bought a 5 percent stake in DIY property sale firm PropertyNow for an undisclosed sum.
The startup, which aims to raise further funds from private equity this year ahead of a possible IPO.
Bouris joined Financial Review Young Rich Lister Jeremy Same as shareholders in the privately held company.
PropertyNow founder Andrew Blachut believes his firm is bigger than rivals such as the listed BuyMyPlace.com.au, which has a market capitalisation of about $15 million, he told The Australian Financial Review.
It has a flat fee structure that starts at $694 for sales or $195 for rentals.
Its website says it "invented agent assisted sales in Australia and have saved Australian sellers over 70 million dollars in commission".
Blachut said he would raise more funds to fund PropertyNow’s marketing campaign.
"We are virtually debt-free and put all our cash flow back in the business and we have built our own proprietary technology platform, which our competitors have not," Blachut was cited as saying by the AFR.
”So we will use the funds raised on marketing our business. A lot of Australians still don't know they can use our [sale by owner] services."
Same, who co-founded Lux Group with prominent fellow Young Rich List member Adam Schwab, invested in PropertyNow in 2015 after approaching Blachut, while three years of effort to woo Bouris paid off when he bought into PropertyNow earlier in August.
"Jeremy brought a lot of expertise in terms of advising us on improving our technology and website and making it more modern and easier for consumers to use," Blachut said. "Mark is advising us and there is a lot of synergies between us and his business.
He added that Yellow Brick Road’s mortgage expertise would be useful when PropertyNow decides to launch ancillary services such as insurance.
PropertyNow is among the new breed of DIY property selling portals that depart from the traditional real estate agent model and as such are cost effective for sellers.
Its rivals include BuyMyPlace and the UK-based PurpleBricks.
PropertyNow claims it has close to 2,000 listings on both realestate.com and Domain as at August 17, which is 27 per cent more than BuyMyPlace and up 17.3 per cent from a year ago. PropertyNow expects to generate an annual revenue of $1.5-2 million.
He said clients typically save $10-15,000 compared with enlisting full service real estate agents, with clients running their own open-house inspections, take inquiries from prospective buyers and control the text and pictures used on the real estate listings. The business has also branched into offering a service for rental homes.
"We think we are here to stay, the industry has already been disrupted. It is like having Uber now, but also normal taxis."
Blachut is a real estate agent who has worked for L J Hooker, Raine &amp; Horne, Elders and Ray White. He first launched his then Coffs Harbour-based business in 2004 and became one of the first virtual real estate agents.
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DIY selling platform PropertyNow eyes more funds after Mark Bouris takes stake 

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GUEST OBSERVER
Any amount you can claim on a property will be advantageous to your financial well being.
Negative gearing is a popular wealth creation strategy.
The net loss can be offset against other income to reduce tax which means the higher you can claim on a property, the bigger the tax benefit.
Here are some of the tax deductions you can and cannot claim on negatively geared investments.
Capital gain is derived from the sale of a property where the proceeds are more than the cost base of the property.
There is a capital loss if the proceeds are less than the cost base.
To minimise your CGT, you should know all expenses that fall within the property's cost base.
You can apply capital losses from the previous year as well.
The cost base consists of the property's purchase price, stamp duty, borrowing expenses, broker fees, legal expenses, capital improvement outlays and auctioneer's fees.
Rental properties bought on or after 19 September 1985 are subject to capital gains tax but any remaining net capital gain can be reduced under the 50% CGT discount for those who owned the property for over 12 months.
There are other concessions if it used to be your main residence as well.
You can also claim management expenses against the investment property's income, including insurance, interest on your investment loan, real estate management fees, depreciation on assets, council and water rates, tenancy costs including advertising, repairs and maintenance and cleaning costs.
Until 30 June 2017, reasonable travel expenses to maintain, inspect and collect rent for the property may be claimed.
For body corporate fees, you can claim admin levies and general purpose sinking funds as well.
To those whose rental property is in their name and not part of a property leasing business, you can reduce your tax on prepaid tax-deductible expenses if the prepayment is for services in the next 12 months.
For others, a prepayment may only be deductible immediately if the expenditure is less than $1,000 or specifically required to be incurred by a law.
To claim, you have to present official documentation such as bank statements and receipts and accurate depreciation and capital works schedules.
The depreciation schedule outlines the amount you claim in depreciation every year while the capital works schedule outlines building and construction expenses, costs of altering a building, capital improvements to the surrounding property and how much you can claim every year.
Expenses can be written off at 2.5% every year over 40 years for rental properties build after 15 September 1987.
Those who do not have building or construction records can obtain an estimate from a quantity surveyor, clerk of works, experienced builder or supervising architect.
A quantity surveyor can also create a depreciation schedule. They are experienced in valuing assets accurately to help you save money in the long run.
Meanwhile, expenses you cannot claim are those related to your personal use of the property, utility bills paid by the tenant, borrowing costs when you've borrowed against the investment property's equity for private use and those related to the sale or purchase of the property.
However, many of these can be part of the cost base. You should document and keep all records of all your spending from the start of your investment.
You should document and keep all records of all your spending from the start of your investment.
Talk to your accountant to understand what you need and map out what you want to do in the coming financial year.
Ed Chan is founder and non executive chairman, Chan &amp; Naylor Accountants and can be contacted <a href="https://www.chan-naylor.com.au/" target="_blank">here</a>.
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How to maximise rental property returns: Ed Chan

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Retail billionaire Brett Blundy is relisting his Rose Bay mansion in Sydney with hopes of a sale in the mid-$40 millions.
The waterfront trophy home at 19 Bayview Hill Road is on the market through Knight Frank’s Deborah Cullen and Richard Sholl, and Brad Pillinger of Pillinger Real Estate.
The five-bedroom, four-bathroom home has views over Sydney Harbour and an infinity pool set on landscaped gardens.
It was architecturally designed by David Walker and Peter Janks, while Hare + Klein handled the interior architecture.  
It features a a sculptured zinc roof, dramatic glass walls and soaring ceilings, as well as an internal lift to the eight-car garaging level, with a car washing bay and full security system and plant rooms.
Deborah Cullen, Knight Frank’s Head of Prestige Residential Sales, Australia said the property is sought-after by high net worth individuals both within Australia and overseas.
“We are sending an information package to present to our super-prime group globally, including in New York, London and Asia in order to attract a strong international buyer interest," she said.
“Globally, Knight Frank has a huge client database of ultra-high net worth individuals and as our 2017 edition of The Wealth Reportfound, Australia is a key destination for this wealth.”
According to Lord Andrew Hay, Knight Frank’s Global Head of Residential, Australia is a key focus internationally for the super-rich.
"Sydney and Melbourne have made it into the top 10 list of most important cities globally for the wealthiest to invest, according to the Knight Frank City Wealth Index," he said.
"Sydney ranked 4th and Melbourne ranked 10th in the ‘investment’ category.
“Countries that offer a fiscal and political ‘safe haven’, as well as excellent quality of life, are expected to see strong growth over the next decade in UHNWI populations – and saw their numbers increase in 2016. Australasia, Canada, Malta, the UAE, Qatar, Monaco and Israel are examples of key ‘safe havens’ attracting migrating UHNWIs."
Richard Sholl, Knight Frank’s Prestige Residential Sales Executive, Australia said Rose Bay features a range of private and public schooling and a very strong sense of community within the area which makes it a perfect place for families of all ages to enjoy.
“Privately located at the end of Bayview Hill Road and featuring a 32-metre frontage to the Sydney foreshore gardens of Hermitage Reserve, this home offers a very special lifestyle. An entertainment area on the lower level includes a state-of-the-art home theatre room, study, sauna, and gymnasium, in addition to the beautifully-landscaped gardens and infinity swimming pool and spa," he said.
“With jaw-dropping panoramic views from the beautiful sands of Rose Bay through to the Sydney Opera House, Harbour Bridge and Sydney CBD skyline, the home epitomises a simple yet luxurious and elegant contemporary lifestyle."
The Rose Bay harbourfront was first listed February 2016 at $45 million.
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Retail billionaire Brett Blundy relists Rose Bay mansion with mid-$40 millions hopes

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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