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The first hotel on sale under NSW's new 75 percent strata renewal rule is Sydney's Seasons Harbour Plaza hotel in Darling Harbour.
The new legislation came into force in November and forces strata unit owners to sell if 75 percent agree.
An AFR report noted most of the strata asset's owners – more than 90 – have agreed to sell the 119-room hotel at 252 Sussex Street in one line for a price of about $70 million.
Gus Moors , Colliers International's head of hotels, said in one of the most tightly held markets in the country, the sale of Seasons Harbour Plaza Sydney represents an incredibly rare opportunity to secure a hotel asset with immense opportunity.
The hotel is 446 sqm, 19-floor hotel and has rooms ranging from a 30 sqm studio to a 157 sqm loft penthouse. It is leased to the Seasons Apartment Hotel Group. 
The hotel's recent room sales have been sparse. Room 803 sold in 2015 for $625,000.
It originally sold for $305,000 in 1997.
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j.ballantyne1990-6AQqhLzZaK

First hotel on sale under NSW's new 75 percent strata renewal rule

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Property investors in Canberra now have to do more to secure a good investment, according to Herron Todd White’s latest August report.
The property data firm says that this is due to first home buyers having more options.
“Recent changes to lending and legislation, aimed at enabling first home buyers to enter the market, has had an effect on property investors looking to expand their portfolios.
“These measures were introduced in an effort to allow first home buyers to be more competitive in a heated market.
“As a result, property investors looking for an asset with good yield and growth will have to do their research and be willing to go the extra mile to secure a pro table investment.
“Unlike other states, the ACT has not introduced a scheme which cuts stamp duty for first home buyers.
“There are some incentives available via the government and private developers however nothing similar to those in New Sourth Wales and Victoria,” the report stated.
An increase in the number of apartments have resulted in slow growth for this market Herron Todd White commented.
“With the increased supply of apartments coming onto the market over the next year, the ACT has seen relatively slow growth for this style of property with some properties loosing value.
“However, rental demand for apartments has remained strong despite the increase of supply.
“If property investors are chasing yields and not capital growth, purchasing a new apartment may be a good option.
“This is particularly relevant for apartments in the CBD and district centres such as Woden, Tuggeranong, Belconnen and Gungahlin.
“It should be noted that new apartments in Molonglo Valley, Gungahlin and Tuggeranong may experience low to no capital growth over the next few years due to increasing supply,” the report commented.
A two bedroom apartment at <a href="https://www.realestate.com.au/property-apartment-act-curtin-421762474" target="_blank">16/1 Waddell Place</a>, Curtin (above) is available for rent for $400 per week.
Built in 1995 the property was last sold in 1999 for $149,750 before being rented in 2014 for $345 per week.
Another two bedroom apartment at <a href="https://www.realestate.com.au/property-apartment-act-braddon-421756402" target="_blank">30/11 Ijong Street</a>, Braddon (below) is available for $450 per week.
<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/2017/08/09/30_11%20Ijong%20Street.jpg" alt="">
Rental yields for detached housings remain steady Herron Todd White advises.
“Rental yields in detached housing have remained steady but like other capital cities, capital growth has been very strong.
“An option for investors in the ACT may be to purchase a vacant block through the Mr Fluffy Asbestos Removal Scheme.
“There are several hundred blocks being introduced to the market most of which are in sought after established areas.
“Land banking one of these blocks and either selling or developing later may be a pro table option providing investors are able to cover the initial costs.
“However, developers should be wary of the changes to the Lease Variation Charge which took effect on the 1st of July 2017.
“These changes have significantly increased the fee required to build multiple units on residential blocks,” the report advised.
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Savvy Canberra property investments harder to secure: HTW

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Singaporean developer Tong Eng Group has paid $116.3 million for a St Kilda Road tower.
The building on 5 Queens Road, was built in 1989and features new end-of-trip facilities with 104 lockers and 56 bike racks; floor plates of 1,680sqm and 325 bays across two levels of basement car parking.
Located opposite Albert Park, the 11-storey tower has a net lettable area of 17,500sqm and tenants such as Unico Computer Systems, Beca and Shape.
CBRE’s Michael Andrews, Luke Etherington and Kiran Pillai – in conjunction with Colliers’ Leigh Melbourne and Nick Rathgeber – managed the sale campaign on behalf of Charter Hall.
Trent James, CHOT fund manager, said recent divestments, including Queens Road, provides an opportunity to divest non-core assets above book value, with capital to be redeployed into core CBD acquisitions.
“This transaction reconfirm the CHOT’s focus on being an active seller in order to enhance returns for our capital partners,” he said.
Some $9 million has been spent on upgrades since 2011 with the building now having the only 5 Star NABERS rating in the area.
CBRE’s Mr Andrews said the strong sale result, which reflected an initial yield of circa 5.6 percent, highlighted the strength of demand for quality assets in the precinct.
“Charter Hall has completed a significant capital works program and leasing project on the building in recent years, which has positioned the asset as best in class,” Mr Andrews said.
“This strategy underpinned strong interest from both offshore and local groups and ultimately delivered one of the sharpest ever sale results within the precinct.
Terence Teo, Director of Feature Queens Pty Ltd (a unit of the Tong Eng Group), said the building is at a fantastic location at the confluence of Queens Road, Kingsway and St Kilda Road, and offers unrivalled protected views over Albert Park and Port Philip Bay.
 
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Singaporean developer Tong Eng Group buys St Kilda Road tower

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A car wash with potential for further development in Dandenong North in Melbourne’s south-east has sold for $1.9 million on a 6.25 percent yield.
The nearly 1,400 sqm site at <a href="https://www.raywhite.com/vic/dandenong-north/1658552/?lang=en" target="_blank">99-101 Gladstone Road</a> was sold to a private investor by Ray White Commercial's Ryan Trickey and Ben Ainsworth.
The sale following an expression of interest campaign.
Trickey said the property provided a secure commercial investment opportunity as the property enjoyed main road exposure and a well-established car detailing business tenant returning net rental of about $115,000 per annum.
“With an increase in high density living around Melbourne's activity centres, car wash businesses are a great place to invest,” Trickey said.
“Find one on a corner or in high profile location and cash flow should be secure as a good car wash should be easy to lease and retain tenants.”
Trickey said car wash assets can deliver strong returns in comparison to other investments. The property has development upside subject to council approval.
“A site such as the Gladstone Rd one is returning net rental of approximately $115,000 per year which is a lot stronger than the $40,000 gross rent you might receive from two adjoining rental houses in the same location.”
The tenant is on a five-year lease with a further option of 5 years. 
There are fixed annual 4 percent increases.
Ainsworth said the six-bay car wash is on the major intersection of Gladstone and Heatherton roads and benefits from both homebound and inbound traffic.
“Residential and commercial development in this area is well documented, both landlord and tenant should gain from the increase in consumers in this area,” he said.
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Car wash in Melbourne's Dandenong changes hands for $1.9 million

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Queenstown has the highest house rental yield in Tasmania, according to Real Estate Investar’s latest report.
The property investment said that Queenstown’s rental yield is 10 percent.
This is followed by Clarendon Vale, Waverley and Rosebery with 8 percent and Mayfield and Risdon Vale with 7 percent.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="96">
Suburb
</td>
<td valign="top" width="64">
Postcode
</td>
<td valign="top" width="70">
Bedrooms
</td>
<td valign="top" width="112">
Current median rent
</td>
<td valign="top" width="79">
Rental yield
</td>
</tr>
<tr>
<td valign="top" width="96">
Queenstown
</td>
<td valign="top" width="64">
7467
</td>
<td valign="top" width="70">
2
</td>
<td valign="top" width="112">
$130
</td>
<td valign="top" width="79">
10%
</td>
</tr>
<tr>
<td valign="top" width="96">
Clarendon Vale
</td>
<td valign="top" width="64">
7019
</td>
<td valign="top" width="70">
3
</td>
<td valign="top" width="112">
$235
</td>
<td valign="top" width="79">
8%
</td>
</tr>
<tr>
<td valign="top" width="96">
Waverley
</td>
<td valign="top" width="64">
7250
</td>
<td valign="top" width="70">
3
</td>
<td valign="top" width="112">
$245
</td>
<td valign="top" width="79">
8%
</td>
</tr>
<tr>
<td valign="top" width="96">
Rosebery
</td>
<td valign="top" width="64">
7470
</td>
<td valign="top" width="70">
3
</td>
<td valign="top" width="112">
$150
</td>
<td valign="top" width="79">
8%
</td>
</tr>
<tr>
<td valign="top" width="96">
Mayfield
</td>
<td valign="top" width="64">
7248
</td>
<td valign="top" width="70">
3
</td>
<td valign="top" width="112">
$230
</td>
<td valign="top" width="79">
7%
</td>
</tr>
<tr>
<td valign="top" width="96">
Risdon Vale
</td>
<td valign="top" width="64">
7016
</td>
<td valign="top" width="70">
3
</td>
<td valign="top" width="112">
$290
</td>
<td valign="top" width="79">
7%
</td>
</tr>
</tbody></table>
A two bedroom house at <a href="https://www.realestate.com.au/property-house-tas-queenstown-421402274">11 Brown Street</a>, Queenstown (above) is available for $130 per week.
Another two bedroom house at <a href="https://www.realestate.com.au/property-house-tas-rosebery-421084438">20 Clemons Street</a>, Rosebery (below) is available for $135 per week.
<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/2017/07/21/20%20Clemons%20Street.jpg" alt="">
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Queenstown, Tasmania house rental yield at 10 percent: Investar

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Around $500,000 is enough for a riverfront property in Horsham, according to Herron Todd White’s latest report.
The property advisory firm says that the rental market has remained steady over the past year.
“The lazy half million would see you purchasing a property towards the top end of Horsham’s residential market in a well sought after location with river frontage or in a less sought after location with ancillary improvements such as a pool and sheds.
“The median house price in Horsham is around $245,000 with approximately 60% of Horsham’s residential sales being within the $200,000 to $400,000 price bracket.
A river front three bedroom house at <a href="https://www.realestate.com.au/property-house-vic-horsham-125556034" target="_blank">44 Arnott Street</a>, Horsham (above) has been listed for $249,000.
“Overall Horsham’s residential values have remained steady however the volume of sales occurring is slightly lower than this time 12 months ago.
“Horsham’s rental market has remained steady over the past 12 months with a good balance between supply and demand.
“Rentals range from $195 per week for a 2-bedroom unit to $450 per week for a newly constructed 4-bedroom dwelling,” the report stated.
A two bedroom unit at <a href="https://www.realestate.com.au/property-unit-vic-horsham-421646882" target="_blank">3/4 Burgess Street</a>, Horsham (below) is available for rent for $185 per week.
<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/2017/07/25/3_4%20Burgess%20Street.jpg" alt="">
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Riverfront Horsham residential properties for $500,000

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Newcastle is becoming a hot spot for property investments, according to Herron Todd White’s latest report.
The property data firm says that 50 percent of residential sales in the Lower Hunter region of Newcastle were to investors.
“Owning your own home is the great Australian dream, but what about owning two homes, three homes or even more?
“Investing in real estate has always been a popular way of earning an extra income in Australia and with over 50% of residential sales in the Lower Hunter in the past financial year being to investors, this region is certainly a hot spot for property investment.
“The number of investment home loans has dropped nationally over the past year and this trend is predicted to continue due to the regulatory clampdowns that have been imposed.
“These regulations and the government’s efforts to cool the housing market especially in major cities would suggest that investment should slow down nationwide.
“This may not be the case in the Lower Hunter however; in fact it will probably buck the trend,” the report stated.
A four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-hamilton+south-126012362">8 Thomas Street</a>, Hamilton South (above) was sold for $996,000.
Built in 1930 it last sold in 2005 for $485,000.
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-waratah-125916530">22 Ada Street</a>, Waratah (below) was sold for $730,000.
<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/2017/08/14/22%20Ada%20Street.jpg" alt="">
Newcastle has an excellent rental market with a vacancy rate of 2.3% Herron Todd White advises.
“Newcastle is still an enticing prospect for investors due its close proximity to Sydney, its affordability compared to the capital cities and an excellent rental market with a current vacancy rate of just 2.3%.
“With Newcastle being a university city there is a high investor involvement in good rental yield suburbs close to the university such as Jesmond and Wallsend.
“However investors are also looking at inner city and coastal suburbs such as Cooks Hill, Wickham and Adamstown for higher capital gains.
“The Newcastle CBD is undergoing a makeover and with the construction of not only a new university campus but also numerous apartments, the area is sure to see an influx of investment in the near future.
“Strong rental returns, larger blocks, competitive capital gains and the ability to find low maintenance 2- to 3-bedroom properties for under $500,000 means the region offers plenty of good investment opportunities for those who can’t afford the larger capital cities, especially Sydney.
“There is something for every type of investor: more expensive coastal properties, inner city properties, student accommodation, fixer uppers and larger family homes in the outer estates and suburbs.
“Savvy investors continue to see good returns in Newcastle and the investment market shows no signs of slowing down,” the report advised.
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Newcastle becoming a hot spot for property investors: HTW

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Echuca investors are looking for yields supplemented by capital growth, according to Herron Todd White’s latest report.
The property data firm says that centrally located residential areas are reporting superior returns.
“Typically investors in anything but central Echuca are looking for yield supplemented by capital growth rather than the other way around in our local markets.
“Changes to tax laws around depreciation have also slightly reduced the amount of items that can be claimed for dwellings in the mortgage belt.
“Nevertheless many centrally located residences are being successfully operated as short term accommodation (AirBnB and established holiday rental management companies along with privately owned and managed residences) with most reporting superior returns above and beyond permanent accommodation,” the report stated.
A two bedroom unit at <a href="https://www.realestate.com.au/property-unit-vic-echuca-421763594" target="_blank">1/319 High Street</a>, Echuca (above) is available for $230 per week.
A four bedroom house at <a href="https://www.realestate.com.au/property-house-vic-echuca-421761754" target="_blank">23 Cochrane Street</a>, Echuca (below) is available for $460 per week.
<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/2017/08/14/23%20Cochrane%20Street.jpg" alt="">
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Echuca sees higher rental returns: HTW

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A north facing Sovereign Islands house has been listed for $5.35 million.
Located at <a href="https://www.realestate.com.au/property-house-qld-sovereign+islands-126128846" target="_blank">64 The Sovereign Mile</a>, the Gold Coast property has basement parking for six to ten available.
Built in 2005 the property was last sold in 2015 for $3.4 million.
It features four ensuited bedrooms plus an office along with a mix of three informal and formal lounges.
<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/2017/08/09/64%20The%20Sovereign%20Mile-2.jpg" alt="">
There is a media room that can accommodate 10 people along with a wired music sytem.
The kitchen has state-of-the-art finishes while the outdoor area has a large swimming pool.
Other features includes a wine cellar, gym and pontoon.
The property is offered through Professionals agent Chris Moyer.
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Four bedroom Sovereign Islands house with private pontoon listed for $5.35 million

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New South Wales leads the nation in the march toward medium density living, being the only state in the country to experience growth in medium density approvals in the 12 months to March 2017.
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.
Bankwest General Manager Broker Sales Stewart Saunders said growth in these areas highlighted the continued strong property demand in Australia’s most populous state and its capital city.
“The growth seen in Sydney and New South Wales shows the existence of a highly competitive property market there with price pressures creating continued opportunity for medium density housing in the city.
The report shows how New South Wales there was a 5.9% increase in the amount of approvals for medium density housing (apartments) over the year to March 2017.
Similarly, Sydney was the only capital city to register substantial growth in medium density approvals during the 12 months to March, with the number of approvals increasing by 11.6% during the period.
“The picture for the rest of the country was markedly different from what we saw in New South Wales.
While the march towards apartment style living continues what we have seen during the period of our survey is the biggest down turn in approvals for medium density housing for over four years,” Mr Saunders added.
Medium density approvals at a national level dropped by 6.5% in the 12 months to March to 110,471, down from 118,156 the previous year.
It appears this national decline was largely driven by declines at a state level in Queensland (down 25.6%), and Western Australia (down 27.1%).
<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="">
Mr Saunders said that while the report showed a general downturn over the 12 months to March 2017 there were pockets where there was notable growth.
“The analysis of the data has allowed us to produce a top ten of the Australia’s fastest growing areas for apartment-style living. Interestingly, the area of Cottesloe-Claremont in Perth came out on top.
“Over the 12 months to March this year over half [50.2%] of all housing approvals in that area were for medium density housing.
Looking a little closer at what’s happening at a local level it would appear the “Claremont on the Park” development, where there are plans to build some 750 apartments, is the reason for the slight anomaly,” he said.
Mr Saunders said the annual Housing Density Report is the latest in Bankwest’s ongoing series of 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 constructive voice in the debate on the future of the economy.”
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Sydney bucks national trend with increase in approvals for apartment developments: Bankwest 

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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