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Medium density housing approvals in the 12 months to March fell by the greatest margin in Queensland, more than in any other state or territory in Australia.
That is one of the key findings of the new Bankwest Housing Density report which analysed approvals in medium density and low density housing over both the long and the short term.
The report reveals the amount of medium density housing approvals in Queensland dropped by over a quarter (25.6%), down 6,789 approvals to just 19,693.
Bankwest General Manager Broker Sales Stewart Saunders says the state’s surplus of apartment style accommodation was the likely driver behind the drop.
“This sharp fall in medium density housing approvals in Queensland can be attributed to a high number of vacant properties, contributing to weaker investor expectations in the state’s hot property markets,” said Mr Saunders.
The drop is mirrored in the report’s findings that the proportion of medium density housing as a percentage of all approvals in Queensland fell by almost a half (45.3%) in the 12 months to March.
Despite this fall, the state’s medium density approvals in this period accounted for almost a fifth (17.8%) of all the approvals in the country over that period.
“The report also shows what’s happening at a more local level with pronounced decline in approvals in inner Brisbane City (down by 54.5% in the 12 months to March) but also a really healthy growth – the second highest in the whole country – in the Nerang area.
The report reveals the top ten fastest growing areas in the country for medium density housing, topped by Cottesloe-Claremont in Perth.
<a href="https://www.propertyobserver.com.au/images/2017/08/16/Screen%20Shot%202017-08-16%20at%201.05.45%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/08/16/Screen%20Shot%202017-08-16%20at%201.05.45%20pm.jpg" alt="">
“The increased demand for medium density housing in Nerang in Queensland is also seen in other Gold Coast areas such as a Surfer’s Paradise, Robina and Southport where virtually all of the approvals in the year to March were for medium density housing,” said Mr Saunders.
On a national level, the report paints a picture of a country experiencing a continuing, long term trend towards apartment style living.
“What is noticeable in the short term analysis of the whole country is that we see that over the 12 months to March the country has experienced its biggest decline in the proportion of medium density approvals for four years,” Mr Saunders added.
Medium density approvals declined by 6.5% in the 12 months to March to 110,471, down from 118,156 the previous year.
This national decline was largely driven by declines at a state level in Queensland (down 25.6%), and Western Australia (down 27.1%).
Mr Saunders said the annual Housing Density Report had been produced as part of Bankwest’s ongoing commitment to offer insights on economic data, trends and issues of value to its customers, businesses, communities and policy makers.
“Bankwest is committed to helping customers and local businesses achieve what matters, contributing to the development of our communities and being a positive voice in the debate on the future of the economy.”
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j.ballantyne1990-6AQqhLzZaK

Apartment-style approvals decline in Queensland: Bankwest

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In South Yarra, an early example of renowned late architect Wayne Gillespie’s work, sold for $270,000 higher than its reserve.
<div class="wp-caption">There were three bidders for 200 Walsh Street South Yarra.</div>
<div class="wp-caption"> </div>
<div class="wp-caption">The four-bedroom late 1970s property sold for $4.77 million through Kay &amp; Burton.</div>
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Wayne Gillespie designed South Yarra home sold

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<img src="https://counter.theconversation.edu.au/content/81747/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Domestic animals are rarely associated with Antarctica. However, before non-native species (bar humans) were excluded from the continent in the 1990s, many travelled to the far south.
These animals included not only the obvious sledge dogs, but also ponies, sheep, pigs, hamsters, hedgehogs and a goat. Perhaps the most curious case occurred in 1933, when US Admiral Richard E. Byrd’s second Antarctic expedition took with it three Guernsey cows. 
The cows, named Klondike Gay Nira, Deerfoot Guernsey Maid and Foremost Southern Girl, plus a bull calf born en route, spent over a year in a working dairy on the Ross Ice Shelf. They returned home to the US in 1935 to considerable celebrity. 
Keeping the animals healthy in Antarctica took a lot of doing – not least, hauling the materials for a barn, a huge amount of feed and a milking machine across the ocean and then the ice. What could have possessed Byrd to take cows to the icy south? 
The answer we suggest in our recently published paper is multi-layered and ultimately points to Antarctica’s complex geopolitical history.
Solving the “milk problem”
The cows’ ostensible purpose was to solve the expedition’s so-called “milk problem”. By the 1930s, fresh milk had become such an icon of health and vigour that it was easy to claim it was needed for the expeditioners’ well-being. Just as important, however, were the symbolic associations of fresh milk with purity, wholesomeness and US national identity. 
Powdered or malted milk could have achieved the same nutritional results. Previous expeditions, including those of Ernest Shackleton and Roald Amundsen, had survived just fine with such products. What’s more, William Horlick of Horlick’s Malted Milk sponsored Byrd’s second Antarctic expedition; the seaplane Byrd used was named for this benefactor. 
So if fresh milk was not actually a health requirement, and other forms were readily available, why go to the trouble of lugging three cows and their accoutrements across the ice?
Maximising publicity
The cows represented a first, and Byrd well knew that “firsts” in the polar regions translated into media coverage. The expedition was privately funded, and Byrd was adept at attracting media attention and hence sponsorship. His backers expected a return, whether in the form of photographs of their product on the ice or mentions in the regular radio updates by the expedition. 
The novelty value that the cows brought to the expedition was a valuable asset in its own right, but Byrd hedged his bets by including a pregnant cow – Klondike was due to give birth just as the expedition ship sailed across the Antarctic Circle. The calf, named “Iceberg”, was a media darling and became better known than the expeditioners themselves. 
The celebrity attached to the cows helped the expedition remain in the headlines throughout its time in Antarctica, and they received an enthusiastic welcome upon its return. Although the unfortunate Klondike, suffering from frostbite, had to be put down mid-expedition, her companions made it home in good condition. They were feted on their return, meeting politicians in Washington, enjoying “hay cocktails” at fancy hotels, and making the front page of The New York Times.
It would be easy, then, to conclude that the real reason Byrd took cows south was for the publicity he knew they would generate, but his interest in the animals may also have had a more politically motivated layer.
Eyeing a territorial claim
A third reason for taking cows to Antarctica relates to the geopolitics of the period and the resonances the cows had with colonial settlement. By the 1930s several nations had claimed sectors of Antarctica. Byrd wanted the US to make its own claim, but this was not as straightforward as just planting a flag on the ice. 
According to the Hughes Doctrine, a claim had to be based on settlement, not just discovery. But how do you show settlement of a continent covered in ice? In this context, symbolic gestures such as running a post office – or farming livestock – are useful. 
Domestic animals have long been used as colonial agents, and cattle in particular were a key component of settler colonialism in frontier America. The image of the explorer-hero Byrd, descended from one of the First Families of Virginia, bringing cows to a new land and successfully farming them evoked this history. 
The cows’ presence in Antarctica helped symbolically to turn the expedition base – not coincidentally named “Little America” – into a frontier town. While the US did not end up making a claim to any sector of Antarctica, the polar dairy represented a novel way of demonstrating national interest in the frozen continent.
The Antarctic cows are not just a quirky story from the depths of history. As well as producing milk, they had promotional and geopolitical functions. On an ice continent, settlement is performed rather than enacted, and even Guernsey cows can be more than they first seem.
<a href="https://theconversation.com/profiles/hanne-e-f-nielsen-139245" target="_blank">Hanne E.F. Nielsen</a> is PhD Candidate in Antarctic Representations, University of Tasmania.
<a href="https://theconversation.com/profiles/elizabeth-leane-267090" target="_blank">Elizabeth Leane</a> is Associate Professor of English and ARC Future Fellow, University of Tasmania.
Both are authors for <a href="https://theconversation.com/au" target="_blank">The Conversation</a>.
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Cows in Antarctica? How one expedition milked them for all their worth

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House and land packages are attracting investors in Hervey Bay, according to Herron Todd White’s latest August report.
The property investment firm says that lot sizes are steadily decreasing as higher density living rises.
“Investors are typically attracted to standard house and land packages which start at an affordable $330,000 for a basic 4-bedroom, 2-bathroom home with double garage.
“Lot sizes have been steadily reducing over the past five years as Council looks to promote higher density living particularly within the newly established estates located in the fringe areas of Hervey Bay.
“Over the past few years we have seen many duplex style dwellings constructed, with the floor plan providing 3-bedroom, 2-bathroom accommodation (with single garage) on one side, with an attached 2-bedroom, 1-bathroom flat (with single garage).
“These have been very popular with investors with most yielding 6% to 7% gross return, along with attractive tax depreciation benefits.
“This type of property is currently being marketed to interstate investors and we are yet to see a resale of this type of duplex.
“Investors who choose to purchase on the Fraser Coast have a very wide range of property to choose from, with new estates offering a range of turn-key quality inclusions to attract buyers,” the report stated.
A 2360 sqm lot allotment at <a href="https://www.realestate.com.au/property-residential+land-qld-craignish-2499635" target="_blank">38/5 Glen Laton Court</a>, Craignish (above) has been listed for $330,000.
A riverfront 1055 sqm lot allotment at <a href="https://www.realestate.com.au/property-residential+land-qld-burrum+heads-2592706" target="_blank">70 Traviston Way</a>, Burrum Heads (below) has been listed for $350,000.
<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/2017/08/04/70%20Traviston%20Way.jpg" alt="">
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Land lots attracting Hervey Bay investors: HTW

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Australia’s population is booming, with some regions growing by more than 50 percent over the last five years.
In celebration of its upcoming 10th anniversary, <a href="https://www.nearmap.com.au" target="_blank">Nearmap</a>, the Aussie aerial imagery company, has paired its high-res aerial imagery with new Australian Bureau of Statistics data, revealing the country's rapid growth through before and after images of the top 10 fastest growing regions in Australia.
As businesses and local governments work to stay ahead of housing and infrastructure demand, it is becoming increasingly important to fully utilise technology to save time, keep costs down and ultimately speed up delivery of large-scale, long-term developments projects, like those pictured below.
Rob Newman, Nearmap CEO, said from the ground it can be difficult to see the pace at which Australia is growing.
"But when you look at it from the air, you can observe in incredible detail the change occurring across our country, even just in the last five years," he said.
“Nearmap captures, manages and delivers the most frequently-updated high res aerial imagery in the world.
“And by having access to the most up to date information, businesses and government agencies are able to make more informed and strategic decisions, critical for effectively planning and managing urban development as Australia’s population continues to grow.”
Below are the top 10 regions around Australia that have experienced the highest percentage of population growth between 2011 and 2016.
<table style="width: 411px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="48">
Order
</td>
<td valign="top" width="94">
Region name
</td>
<td valign="top" width="83">
2011 population
</td>
<td valign="top" width="83">
2016 population
</td>
<td valign="top" width="57">
Growth
</td>
<td valign="top" width="47">
State
</td>
</tr>
<tr>
<td valign="top" width="48">
1
</td>
<td valign="top" width="94">
Serpentine – Jarrahdale
</td>
<td valign="top" width="83">
17,805
</td>
<td valign="top" width="83">
26,873
</td>
<td valign="top" width="57">
50%
</td>
<td valign="top" width="47">
WA
</td>
</tr>
<tr>
<td valign="top" width="48">
2
</td>
<td valign="top" width="94">
Gungahlin
</td>
<td valign="top" width="83">
47,303
</td>
<td valign="top" width="83">
71,142
</td>
<td valign="top" width="57">
50%
</td>
<td valign="top" width="47">
ACT
</td>
</tr>
<tr>
<td valign="top" width="48">
3
</td>
<td valign="top" width="94">
Melbourne City
</td>
<td valign="top" width="83">
93,612
</td>
<td valign="top" width="83">
135,969
</td>
<td valign="top" width="57">
45%
</td>
<td valign="top" width="47">
VIC
</td>
</tr>
<tr>
<td valign="top" width="48">
4
</td>
<td valign="top" width="94">
North Lakes
</td>
<td valign="top" width="83">
51,568
</td>
<td valign="top" width="83">
71,560
</td>
<td valign="top" width="57">
38%
</td>
<td valign="top" width="47">
QLD
</td>
</tr>
<tr>
<td valign="top" width="48">
5
</td>
<td valign="top" width="94">
Wyndham
</td>
<td valign="top" width="83">
166,020
</td>
<td valign="top" width="83">
221,895
</td>
<td valign="top" width="57">
33%
</td>
<td valign="top" width="47">
WA
</td>
</tr>
<tr>
<td valign="top" width="48">
6
</td>
<td valign="top" width="94">
Kwinana
</td>
<td valign="top" width="83">
29,227
</td>
<td valign="top" width="83">
38,918
</td>
<td valign="top" width="57">
33%
</td>
<td valign="top" width="47">
WA
</td>
</tr>
<tr>
<td valign="top" width="48">
7
</td>
<td valign="top" width="94">
Casey – South
</td>
<td valign="top" width="83">
128,361
</td>
<td valign="top" width="83">
168,177
</td>
<td valign="top" width="57">
31%
</td>
<td valign="top" width="47">
VIC
</td>
</tr>
<tr>
<td valign="top" width="48">
8
</td>
<td valign="top" width="94">
Ormeau – Oxenford
</td>
<td valign="top" width="83">
94,056
</td>
<td valign="top" width="83">
120,883
</td>
<td valign="top" width="57">
28%
</td>
<td valign="top" width="47">
QLD
</td>
</tr>
<tr>
<td valign="top" width="48">
9
</td>
<td valign="top" width="94">
Whittlesea – Wallan
</td>
<td valign="top" width="83">
166,907
</td>
<td valign="top" width="83">
213,708
</td>
<td valign="top" width="57">
28%
</td>
<td valign="top" width="47">
VIC
</td>
</tr>
<tr>
<td valign="top" width="48">
10
</td>
<td valign="top" width="94">
Bringelly – Green Valley
</td>
<td valign="top" width="83">
80,339
</td>
<td valign="top" width="83">
102,811
</td>
<td valign="top" width="57">
28%
</td>
<td valign="top" width="47">
NSW
</td>
</tr>
</tbody></table>
Serpentine - Byford December 2012
<img src="https://www.urban.com.au/images/2017/08/18/Screen%20Shot%202017-08-18%20at%2011.10.24%20AM.png" alt="">
Byford June 2016
<img src="https://www.urban.com.au/images/2017/08/18/Screen%20Shot%202017-08-18%20at%2011.11.19%20AM.png" alt="">
Gungahlin - May 2012
<img src="https://www.urban.com.au/images/2017/08/18/Screen%20Shot%202017-08-18%20at%2011.12.40%20AM.png" alt="">
 
Gungahlin April 2017
<img src="https://www.urban.com.au/images/2017/08/18/Screen%20Shot%202017-08-18%20at%2011.22.31%20AM.png" alt="">
 Melbourne City - Carlton November 2011
<h1 class="filename"><img src="https://www.urban.com.au/images/2017/08/18/Screen%20Shot%202017-08-18%20at%2011.25.35%20AM.png" alt=""></h1>
 
Carlton May 2017
<img src="https://www.urban.com.au/images/2017/08/18/Screen%20Shot%202017-08-18%20at%2011.26.16%20AM.png" alt="">
QLD North Lakes
Griffin June 2011
<img src="https://www.urban.com.au/images/2017/08/18/Screen%20Shot%202017-08-18%20at%2011.27.28%20AM.png" alt="">
Griffin June 2017
<img src="https://www.urban.com.au/images/2017/08/18/Screen%20Shot%202017-08-18%20at%2011.28.12%20AM.png" alt="">
Wyndham Vale Victoria
January 2012
<img src="https://www.urban.com.au/images/2017/08/18/Screen%20Shot%202017-08-18%20at%2011.29.12%20AM.png" alt="">
Wyndham Vale February 2017
<img src="https://www.urban.com.au/images/2017/08/18/Screen%20Shot%202017-08-18%20at%2011.30.03%20AM.png" alt="">
Western Australia
Wandi June 2013
<img src="https://www.urban.com.au/images/2017/08/18/Screen%20Shot%202017-08-18%20at%2011.31.02%20AM.png" alt="">
Wandi June 2017
<img src="https://www.urban.com.au/images/2017/08/18/Screen%20Shot%202017-08-18%20at%2011.31.43%20AM.png" alt="">
 Cranbourne East August 2011
<img src="https://www.urban.com.au/images/2017/08/18/Screen%20Shot%202017-08-18%20at%2011.33.50%20AM.png" alt="">
Cranbourne East March 2017
<img src="https://www.urban.com.au/images/2017/08/18/Screen%20Shot%202017-08-18%20at%2011.34.23%20AM.png" alt="">
Queensland 
Ormeau Hills May 2010
<img src="https://www.urban.com.au/images/2017/08/18/Screen%20Shot%202017-08-18%20at%2011.35.36%20AM.png" alt="">
Ormeau Hills June 2017
<img src="https://www.urban.com.au/images/2017/08/18/Screen%20Shot%202017-08-18%20at%2011.36.30%20AM.png" alt="">
 Victoria
Doreen December 2010
<img src="https://www.urban.com.au/images/2017/08/18/Screen%20Shot%202017-08-18%20at%2011.37.48%20AM.png" alt="">
Doreen February 2017
<img src="https://www.urban.com.au/images/2017/08/18/Screen%20Shot%202017-08-18%20at%2011.38.21%20AM.png" alt="">
New South Wales
Cobbitty February 2010
<img src="https://www.urban.com.au/images/2017/08/18/Screen%20Shot%202017-08-18%20at%2011.39.33%20AM.png" alt="">
Cobbitty April 2017
<img src="https://www.urban.com.au/images/2017/08/18/Screen%20Shot%202017-08-18%20at%2011.40.18%20AM.png" alt="">
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New images reveal Australia’s 10 fastest growing regions

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A 1940's home in Victoria's suburb of Croydon is on the market with a price guide from between $2.35 to $2.585 million.
The property, <a href="https://www.realestate.com.au/property-house-vic-croydon-126088838" target="_blank">5 Kenmare Ave, Croydon</a>, is a five-bedroom home on a 1943sqm block was purchased around eight years ago by antique dealers.
<div id="rui-main-content" class="primary">
<div class="main-container">
<div class="wp-caption">
<img class="size-full wp-image-207464" src="https://www.realestate.com.au/blog/wp-content/uploads/2017/08/13120033/capi_131aef075140a8e2c06537c34a1fd9d8_3e0bcf6cb217a64d3fbd0a95efb51cc3.jpeg" alt="5 Kenmare Ave, Croydon. For Herald Sun Realestate" data-capiid="3e0bcf6cb217a64d3fbd0a95efb51cc3"> 
Chris Price, McGrath, Croydon, agent said most of the sash and leadlight windows are from country Victoria, the island bench in the kitchen is a remodelled Victorian-era shop counter with a porcelain butler’s sink, the buffet and hutches are from a church and date back to 1910, and the period lights and switches are French and English. 
“It is probably Croydon’s finest character period home,” he said.
</div>
<div class="wp-caption"><img class="size-full wp-image-207465" src="https://www.realestate.com.au/blog/wp-content/uploads/2017/08/13120037/capi_131aef075140a8e2c06537c34a1fd9d8_64f3857832b876215be6753c90df6dbe.jpeg" alt="5 Kenmare Ave, Croydon. For Herald Sun Realestate" data-capiid="64f3857832b876215be6753c90df6dbe"></div>
 
The turret has 270-degree views.
A formal lounge with a circular sitting room is beneath the turret. The home also has a rumpus room, study, decorative fireplaces and a heated pool.
<div class="wp-caption"><img class="size-full wp-image-207466" src="https://www.realestate.com.au/blog/wp-content/uploads/2017/08/13120041/capi_131aef075140a8e2c06537c34a1fd9d8_f822df56fb8d08fcec8475ddbcfd0552.jpeg" alt="5 Kenmare Ave, Croydon. For Herald Sun Realestate" data-capiid="f822df56fb8d08fcec8475ddbcfd0552"></div>
The property is going to auction 2pm September 23.
</div>
</div>
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1940s home in Victoria's Croydon listed

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The ASX-listed property fund manager GDI Group has sold its A-grade commercial office tower at 66 Goulburn Street in Sydney CBD.
It has been sold to the Singapore real estate firm Ascendas-Singbridge for $252 million.
The 24 floor building has 22,929 square metre of space.
Its tenants include Samuel Griffith Chambers, Government Property NSW, Prudential Investment Co, William Buck and the Copyright Agency.
The tower was acquired in 2014 for $136 million when the building had over 6000sq m of vacancy and expiring leases including one for 10,432sq m.
GDI has since leased, renewed or agreed to lease all its net lettable area.
The property is opposite the recently sold 59 Goulburn Street tower, bought by Fortius Funds Management for $158 million.
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GDI sells 66 Goulburn Street for $252 million

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A Nagambie home designed by architect Gary Windgate is on the market for $1.3 million.
The property fronts Lake Nagambie and is believed to have been the first new home to be built on one of the choicest allotments of the Elloura residential estate development.
The property, at <a href="https://www.realestate.com.au/property-house-vic-nagambie-124318150" target="_blank">16 Lakeside Drive</a> Nagambie is only 124 kms from the City with dual lane freeway access all the way via the Hume and Goulburn Valley Highways.
<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/2017/08/09/16%20Lakeside%20Drive-2.1.jpg" alt="">
Ruralco Property selling agent Brendan Woodley says it has probably the longest view exposure across Lake Nagambie.
The double storey home directly fronts the Lake’s edge with a frontage of 23 metres.
It offers a seven-star rating for efficiency through key features of triple insulation and double glazed glassed areas.
A feature is a slate splashback to the benchtops which the owner specially imported from Brazil.
Ceiling heights throughout the home are at 2.8 metres creating spacious living areas with full height windows to access the water views.
The complete building area is serviced by automatic heating and cooling with an additional gas log fireplace in the downstairs living area.
Brendan Woodley from Ruralco Property said he considers it unlikely that a higher quality waterfront home with unrestricted water views and barely 90 minutes north of the City fringe could be located anywhere else in Victoria.
“By any measure this is a prestige quality home in a magnificent location that makes a design statement and presents a quality of life that is unrivalled," he said.
“At the vendor’s asking price of $1.3 million for 16 Lakeside Drive Nagambie this property will be ideal for retirees seeking a top of the range living address, or for business people seeking an easy retreat from the City”
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Lakefront Nagambie house listed for $1.3 million

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Victorian suburbs are set to be the busiest once again this weekend, according to CoreLogic.
The property data firm says the Craigieburn and Reservoir will be the most busiest.
Victoria has all the busiest suburbs for auctions this week, with 19 homes scheduled to go to auction in Craigieburn and Reservoir, while Pakenham will host 15 auctions and Bentleigh East with 14.
The number of auctions scheduled across the combined capital cities this week is expected to see a slight fall, with 1,878 properties scheduled to go under the hammer, after last week saw volumes reach their highest levels since June (2,040).
Across the two largest auction markets, Melbourne and Sydney, volumes are expected to decrease, with 907 homes scheduled to go to auction across Melbourne and Sydney set to host 666 auctions, down from last week’s 955 and 798 auctions respectively.
Across the smaller markets, activity is to be varied this week, with Brisbane, Canberra and Tasmania set to see an increase in activity week-on-week, while Adelaide and Perth the number of auctions scheduled this week are slightly lower.
When compared to last year, volumes continue to track higher each week than what was seen over the corresponding July- August period last year (1,795).
A four bedroom house at <a href="https://www.realestate.com.au/property-house-vic-craigieburn-125934478" target="_blank">5 Brookedge Court</a>, Craigieburn (above) will be auctioned this weekend for between $550,000 to $600,000.
A two bedroom house at <a href="https://www.realestate.com.au/property-house-vic-reservoir-126063174" target="_blank">6/35 Cheddar Road</a>, Reservoir (below) will be auctioned for between $450,000 to $470,000.
<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/2017/08/18/6_35%20Cheddar%20Road.jpg" alt="">
Last week Reservoir was also the busiest suburb for auctions, with 17 homes scheduled to go under the hammer.
Sales included a five bedroom house at <a href="https://www.realestate.com.au/property-house-vic-reservoir-125995538" target="_blank">39 Gertz Avenue</a>, Reservoir (below) that was auctioned and sold for $861,000.
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A one bedroom unit at <a href="https://www.realestate.com.au/property-unit-vic-reservoir-125991070" target="_blank">1/72 Pine Street</a>, Reservoir (below) was also auctioned and sold for $325,000.
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Craigieburn and Reservoir tie for the weekend's busiest auction suburb: CoreLogic

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Metro area leases in Perth dropped off in the three months to June according to REIWA.
Latest figures from REIWA show when compared to the same time in 2016, leasing levels in Perth increased by six percent.
Hayden Groves, REIWA president said although activity had dropped off across the metro area in the three months to June, annual activity levels had continued to improve.
“The data for the June quarter 2017 clearly shows an uptick in activity on an annual basis across the board, which is pleasing," he said.
“We’re seeing notably more properties being leased now than we were this time last year.
“All five sub-regions saw lifts in their annual activity levels.
“The stand out performers were the South East and Central sub-regions, which improved by 10.5 per cent and 6.6 per cent respectively when comparing June quarter 2017 to June quarter 2016.
“Huntingdale, Booragoon, Bedford, Aubin Grove and Sorrento saw the biggest improvement in leasing activity in the three months to June 2017."
“Karrinyup in the Central sub-region was the best performing suburb for rent price, with its overall median lifting to $570 per week for the three months to June.
“Other suburbs to record positive growth to their median rent prices were Booragoon, East Fremantle, Mount Pleasant and Mindarie,” Mr Groves said.
reiwa.com data shows the median house rent price for the three months to June came in at $360 per week, while Perth’s median unit price was recorded at $330 per week.
It took an average of 52 days for Perth landlords to secure a tenant for their rental in the June quarter.
Mr Groves said the figure recorded for the three months to June was fairly steady on the March quarter, having only increased by one day.
“This stability was felt across all sub-regions, with only minor changes recorded in the average leasing day figure for the June quarter.
“The North West sub-region was the only sub-region to experience a reduction in the number of days it took to lease a property, while the South East sub-region saw no change."
 
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Perth rental market subdued in June quarter: REIWA

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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