<html><body>
Captial gains momentum slowed over Q2 2017 with combined dwelling values rising by 0.8 percent over the June quarter according to CoreLogic.
The CoreLogic Hedonic Home Value figures for June show the slowest quarterly growth rate since dwelling values fell over December 2015 quarter.
Tim Lawless, CoreLogic head of research said the CoreLogic Home Value Index recorded a recovery from the 1.1 percent fall in May, with an 1.8 percent rise in capital city dwelling values over the month of June.
<a href="https://www.propertyobserver.com.au/images/2017/07/03/Screen%20Shot%202017-07-03%20at%209.46.33%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/07/03/Screen%20Shot%202017-07-03%20at%209.46.33%20AM.png" alt="">
 
“This stronger month-on-month reading can be partially explained by the seasonality in the monthly growth rates," he said.
"Adjusting for this effect suggests an easing trend in housing value growth has persisted through the second quarter of 2017.
"The June quarter results showed that capital city dwelling values were 0.8% higher across the combined capitals index; the slowest quarterly rate of growth since December 2015 when the combined capitals index fell by 1.4 percent.
“This trend towards lower capital gains across the combined capitals index is mostly attributable to softer conditions across the Sydney housing market, where quarter-on-quarter growth was recorded at 0.8 percent over the June quarter; down from 5.0 percent over the March quarter. In contrast, the quarterly trend in Melbourne has been more resilient, with growth easing from 4.2 percent over the March quarter to 1.5 percent over the three months ending June.”
"For Sydney, the more pronounced slowdown is supported by weaker auction clearance rates which have been tracking in the high 60 percent range across the city over the last three weeks of June, while in Melbourne, clearance rates have moderated but remained above 70 percent.
<a href="https://www.propertyobserver.com.au/images/2017/07/03/Screen%20Shot%202017-07-03%20at%209.48.06%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/07/03/Screen%20Shot%202017-07-03%20at%209.48.06%20AM.png" alt="">
“Both markets experienced auction clearance rates consistently in the high 70 percent to low 80 percent range over the March quarter."
Across the combined capitals, the annual pace of capital gains eased from 12.9 percent three months ago to 9.6 percent for June 2017. Sydney’s annual growth rate has slowed to 12.2 percent over the twelve months ending June 2017, down from a recent high of 18.9 percent three months ago. Melbourne’s annual growth rate is now the highest of any capital city at 13.7 percent over the twelve months ending June 2017.
Lawless said the change in rental growth conditions is most noticeable in Canberra and Hobart, where rents are respectively increasing at 8.4 percent and 6.2 percent per annum, however Sydney and Melbourne rental markets have also seen a turnaround in what was previously a sluggish rental market.
"Rents in both cities are 4.5 percent and 4.1 percent higher over the past twelve months.
"The growth in rents can be attributed to the ongoing significant rate of net migration into New South Wales and Victoria.
“While the rental growth turnaround will be welcomed by landlords looking to recover higher mortgage costs, the consequence is that renters are now facing renewed pressure as rents rise.
"In Perth and Darwin, rental conditions remain subdued, falling by 8.3 percent and 5.4 percent respectively over the year, while Brisbane rents slipped 0.2 percent lower and Adelaide rents held reasonably firm, up 1.1 percent. 
<div title="Page 2">
<a href="https://www.propertyobserver.com.au/images/2017/07/03/Screen%20Shot%202017-07-03%20at%209.49.27%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/07/03/Screen%20Shot%202017-07-03%20at%209.49.27%20AM.png" alt="">
“It’s likely that landlords will be seeking to recover some, or all, of their increased financing costs associated with higher interest rates on investment in interest only loans by progressively increasing weekly rents. With record-low wages growth and so much new housing supply coming to market, this remains to be seen.
“Although growth conditions have lost momentum across the largest housing markets, we are yet to see any signs of a material downturn.
"The key drivers for a slowdown have been gradual. They include: mortgage rates pushing higher despite a steady cash rate, lender credit policies tightening up and housing affordability - which remains a significant barrier for many prospective buyers. Additionally, higher supply levels in the unit market appear to be creating a drag on the performance of the unit sector in specific segments.
“The impact of macroprudential measures announced by APRA at the end of March are still flowing through to mortgage rates and credit policies. We are likely to see further tightening and repricing around investment lending and interest only lending over the coming months.
“Considering investors comprised just over 55 percent of new mortgage demand across New South Wales, based on the latest housing finance data from the Australian Bureau of Statistics, a further slowdown in investment activity is likely to have a more substantial impact on housing demand in Sydney relative to other markets.
“There is a possibility some of the slack created by less investment in the Sydney housing market could be taken up by first home buyers taking advantage of stamp duty concessions that go live on July 1, however if this is the case, it’s likely to be temporary as higher first-time buyer demand could simply push prices outside the range applicable to the concession.”
</div>
</body></html>

j.ballantyne1990-6AQqhLzZaK

Slowest quarterly rate of dwelling value growth since December 2015: CoreLogic

<html><body>
Developer Greaton has begun construction work on the $260 million Oxford Central residential and commercial development in Sydney's Epping.
Situated at 30 - 42 Oxford Street, Oxford Central comprises 252 luxurious apartments spread across two 17 storey towers, 292 car spaces and 625 sq m of retail on the ground level.
A two storey heritage building located on the site will also be retained and is part of the retail precinct.
An open air café area and public plaza will feature alongside the Heritage building which fronts the development and will be accessible to the public.
Greaton managing director Nicho Teng said this is a significant milestone for the business.
"Oxford Central is Greaton’s first major mixed use project in Sydney and marks the beginning of a very long journey to deliver community focused, quality lifestyle precincts," he said.
“We have hand-picked international award-winning builders and architects - Ceerose and Marchese Partners to ensure Oxford Central becomes an iconic structure on Epping’s skyline.
"Local purchasers have embraced the opportunity to be part of this landmark project.
“Sydney’s horizon is scattered with many cranes.
"We look forward to adding our cranes to the skyline as well as helping create hundreds of jobs for local contractors.
"The Sydney property market is very busy.
"We expect to announce new acquisitions in the near future which will further add to Sydney’s construction activity.”
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/30/_DSC4151.jpg" alt="">
Edward Doueihi, Managing Director of Ceerose said after six months of pre-planning, Ceerose’s site team are keen to commence site activities.
"The team looks forward to working with Greaton to deliver this landmark project,” he said.
Oxford Central is expected to be completed early 2019.
For further information visit <a href="https://www.oxfordcentral.com.au" target="_blank">www.oxfordcentral.com.au</a>
</body></html>

Construction starts on Greaton's Oxford Central

<html><body>
Sydney’s retail market has continued to rise, according to Herron Todd White’s (HTW) latest June report.
The property investment firm says it has noted increased average market rental rates and values.
“Since the start of 2017, the Sydney retail market has continued its upward movement,” the report stated.
“The increase in both average market rental rates and capital values has continued.
“Increased demand from investors has continued to drive the market.
“The demand for CBD assets remains strong, particularly as infrastructure improvements continue.
“Across the board, Sydney is continuing to experience yield compression in the commercial domain.”
Heated residential markets and low borrowing costs have compressed all areas Herron Todd White says.
“A heated residential market along with an inherently low cost of borrowing have seen yield compression across all sectors over the past 12 to 24 months,” the report advised.
“There is strong appetite for retail properties with long term lease covenants.
"We consider this trend will continue while supply remains relatively low,” the report commented.
Entry level retail opportunities are tight at the moment in the outer and middle suburbs Herron Todd White advises.
“Entry level opportunities in the retail market are constrained to strata lots in the outer and middle ring suburbs of Sydney.
“This market has had an increase in supply due to the increase in mixed use developments coming onto the market.
Typically these assets are in fringe retail locations prone to longer vacancy periods and are often best suited to owner-occupiers.”
Mixed use retail opportunities below $1 million is very uncommon Herron Todd White states.
“There are very few mixed use retail opportunities below $1 million,” it said.
“Recent sales indicate that some suburbs such as Beverly Hills, Haberfield, Chester Hill and Leichhardt still have some limited mixed use options below $1 million.
“Many of these assets are purchased based on the future redevelopment potential.
“Strata lots presently represent the main opportunity for entry level buyers.
“The inner west, south Sydney and central west areas all have options priced below $1 million.
“Typically these assets are strata lots less than 100 square metres.
“If they have secure long term tenancies, these assets represent an investment option for entry level buyers.”
Herron Todd White comments that stock supply has increased due to redevelopment works in Sydney.
“Supply of this stock has significantly increased due to the redevelopment of many parts of Sydney,” it said.
“In terms of current yields, these assets are trading below 6% with some recent examples showing yields below 4.5%, particularly where the asset has a good lease covenant.
“Examples include leases to medical centres, cafes and dry cleaners.
“The outlook for retail in Sydney remains positive for 2017.
“Prime locations continue to perform well.
“That said we are of the opinion that the market is reaching the peak of the cycle and any tightening of monetary policy or increase in the cost of debt will result in the prevailing investment yields not being sustainable.
“For the time being though, all signs are that 2017 will be a good year for retail assets.”
A retail building at <a href="https://www.realcommercial.com.au/property-retail-nsw-leichhardt-502075890" target="_blank">283-285 Parramatta Road</a>, Leichardt (above) has been listed for sale.
Similarly a retail property at <a href="https://www.realcommercial.com.au/property-industrial+warehouse-nsw-beverly+hills-5626183" target="_blank">8/159 Penshurst Street</a>, Beverly Hills (below) has been listed for sale.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/22/8159%20Penshurst%20Street.jpg" alt="">
</body></html>

Optimistic time for Sydney retail industry: HTW

<html><body>
The much anticipated July 1 stamp duty savings for first time buyers came into effect on Saturday in NSW and Victoria, though the impact wasn't immediately overly obvious.
"It is still a sellers' market," the Domain auction commentator Dr Andrew Wilson advised.
He suggested the market was likely inflated by first-home buyers "or certainly supported by them."
Despite the onset of winter, and school holidays, continued overall strong buyer demand triggered a small uptick in the national auction success rate.
Brisbane had the nation's cheapest sale when a townhouse at Woodbridge fetched $245,000 in pre-auction negotiations.
Located at <a href="https://www.realestate.com.au/property-townhouse-qld-woodridge-124939366" target="_blank">23/45-47 Defiance Street</a>, the three bedroom property has been a $330 a week rental for its South Australian investors.
They had paid $314,000 in 2009. They had been looking to sell since 2016 when they sought $280,000.
Melbourne's cheapest was a one bedroom unit at Essendon sold for $291,000.
Located at <a href="https://www.realestate.com.au/sold/property-unit-vic-essendon-125666794" target="_blank">10/30 Richardson Street</a>, the 1970s apartment last sold in 2009 for $252,500.
Sydney's cheapest auction result was a $455,000 pre-auction sale of a studio apartment in Darlinghurst.
The <a href="https://www.realestate.com.au/sold/property-studio-nsw-darlinghurst-125661238" target="_blank">17/257-261 Darlinghurst Road offering</a> in the 1880s The Statler complex last sold at $250,000 in 2011.
The agents suggested it had a potential $400 a week rental income.
The nation's dearest weekend sale was an original condition 1960s Armadale house which sold for $5.2 million, Melbourne’s most expensive weekend auction result.
Located at <a href="https://www.realestate.com.au/sold/property-house-vic-armadale-125647978" target="_blank">52 Adelaide Street</a>, the five bedroom, three bathroom home on 761 sqm has the potential to be renovated, rebuilt or redeveloped, according to Marshall White selling agents Marcus Chiminello and Nicole French.
The national clearance rate edged back to the lows 70s%, according to CoreLogic.
It was higher than the 69% preliminary rate which sat at 66% after late results, the lowest clearance rate since June 2016.
The combined capital city preliminary clearance rate was 70.3 per cent on the first July weekend.<a href="https://www.propertyobserver.com.au/images/2017/07/02/Screen%20Shot%202017-07-02%20at%2011.07.33%20am.jpg" target="_blank"> </a>
"Auction clearance rates have been trending lower since reaching a peak at the end of February 2017 when the combined capitals clearance was recorded at 78.4%," Kevin Brogan, the CoreLogic auction analyst said.
Auction volumes were lower this week with 1,984 homes taken to auction across the combined capital cities, down from 2,355 last week.
The volume was significantly higher than this time last year when auction volumes were quieter due to the Federal Election when only 841 homes were taken to auction.
Melbourne had the highest number of auctions, with 866 properties going to market, followed closely by Sydney with 832 homes going under the hammer.
Across Melbourne, 71.9 per cent sold amid the 750 reported auctions.
This was down from 1,047 last week when the final clearance rate was 70.7 per cent.
Melbourne's strongest clearance rate was recorded across the North East, with 80.8 per cent of the 99 reported auctions clearing.
There was no sale when <a href="https://www.realestate.com.au/property-house-vic-templestowe-125639230" target="_blank" rel="noopener noreferrer">7 Watties Rd, Templestowe</a>, one of the suburb’s original farmhouses, was offered.
Built in the early 1900s, the two-bedroom weatherboard cottage on 1.37ha, now comes with a $2.6 million asking price through Steve Schumann, of Fletchers Manningham.
It last sold in 1991 at $362,000.
In Sydney, 832 properties were taken to auction this week with a preliminary clearance rate of 72.6 per cent, increasing from last week, when the final clearance rate for the city was 68.2 per cent across 939 auctions.
One year ago, just 365 Sydney homes were taken to auction and the clearance rate was 78.4 per cent.
Sydney’s Ryde region had the strong result at 89.7 per cent and followed by Sutherland's 84 per cent.
There were 119 Brisbane homes taken to auction on the weekend, with 77 results reported so far.
A Manly house sold for $1.42 million making it Brisbane’s most expensive weekend auction.
Located at <a href="https://www.realestate.com.au/property-house-qld-manly-125609666" target="_blank">12 Kooralgin Street</a>, the 483 sqm property is positioned on Manly Hill with harbour views.
Brisbane's preliminary clearance rate was 54.5 per cent, up from 33.3 per cent last week and higher than one year ago, when 35.6 per cent of the 68 properties taken to auction were successful.
Adelaide saw a preliminary clearance rate of 62.5 per cent, with 56 reported results across a total of 79 scheduled auctions.
In comparison, over the previous week Adelaide’s clearance rate was 68.5 per cent and 62.3 per cent one year ago.
The Adelaide results included a 1930s Hawthorn house for $1.125 million.
Located at <a href="https://www.realestate.com.au/property-house-sa-hawthorn-125711646" target="_blank">21 Sussex Terrace</a>, the art deco-style property was originally built as a doctor’s residence with consulting room.
Built in 1938, it was last sold in 2008 for $880,000.
There were 43 Perth auctions with 50 per cent selling. Last week there was a 39.6 per cent clearance rate for Perth.
Canberra’s preliminary auction clearance rate of 75.8 per cent across 36 auctions is higher than both last week, when the final auction clearance rate was 67.2 per cent, and last year (54.2 per cent).
A four bedroom Red Hill, ACT house sold for $1.4 million making <a href="https://www.realestate.com.au/property-house-act-red+hill-125670706" target="_blank">12 Hicks Street</a> Canberra’s most expensive weekend auction sale.
</body></html>

First home buyers take July 1 stamp duty savings changes without any frenzy

<html><body>
A 1930s Hawthorn, South Australia house has been sold for $1.125 million, making it Adelaide’s most expensive weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-house-sa-hawthorn-125711646" target="_blank">21 Sussex Terrace</a>, the 788 sqm Art Deco-style property was originally crafted as a doctor’s residence with consulting room and is an icon in the area.
Built in 1938 it was last sold in 2008 for $880,000.
Recent renovations and extensions has been made to the property.
Formal lounge room has an adjoining study room with separate entrance while the formal dining room has original fireplace and window seat with garden views.
The master suite has its own ensuite and walk-in robe while the other two 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/2017/07/02/21%20Sussex%20Terrace-2.jpg" alt="">
There is also a freestanding apartment with fourth bedroom with its own walk-in robes, bathroom and living room or it can be used as a pool house as well.
The kitchen features granite benchtops, gas cooking and fully equipped stainless steel cooking appliances.
An outdoor area has its own in-ground swimming pool.
Other features includes double garage with workshop and side access.
Mitcham Village are close by along with Pantry on Egmont and Astros Café.
The property was offered through Toop &amp; Toop Real Estate agents Peter McMillan and Eloise McMillan.
</body></html>

Art-Deco style 1930s Hawthorn house sold for $1.125 million

<html><body>
An original 1960s Armadale house has sold for $5.2 million making it Melbourne’s most expensive weekend auction sale.
Located at <a href="https://www.realestate.com.au/sold/property-house-vic-armadale-125647978" target="_blank">52 Adelaide Street</a>, the five bedroom, three bathroom house on 760 sqm has the potential to either be renovated, rebuilt or redeveloped.
Living spaces leads to a north-facing covered terrace as well as a northeast garden with pool.
<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/2017/07/02/52%20Adelaide%20Street-2.jpg" alt="">
Upstairs is the main bedroom with two walk-in robes and ensuite as well as expansive rumpus room with built in bar.
The property is close to High Street’s shops, restaurants, trams are just moments away.
The property was offered through Marshall White agents Marcus Chiminello and Nicole French.
</body></html>

Original 1960s Armadale house sold for $5.2 million

<html><body>
A one bedroom unit at Essendon sold for $291,000 making it Melbourne’s cheapest weekend auction sale.
Located at <a href="https://www.realestate.com.au/sold/property-unit-vic-essendon-125666794" target="_blank">10/30 Richardson Street</a>, the property had been marketed as an affordable entry into the suburb.
Built in 1970, it was last sold in 2009 for $252,500. It sold in 2007 for $200,000.
Recently renovated, the interior features one double bedroom with its own built-in robes and ensuite bathroom.
It came with open lounge/meals area and modern kitchen featuring stainless steel cooking appliances.
Other feature include off-street parking.
The property was offered through Nelson Alexander agents David Vaughan and Richard Lowe.
</body></html>

One bedroom Essendon unit sold for $291,000

<html><body>
A boat shed at Dormant sold in early 2017 at $300,000.
Located at <a href="https://www.realestate.com.au/property-house-vic-dromana-123898786" target="_blank">121 Boat Shed</a>, the property features a fridge where cool drinks, salads and ice creams can be stocked and a private changing room.
It has lots of space featuring 33 sqm where you can store towels, BBQ equipments etc.
It has a large outside cement deck sitting area with large canvas awning to protect from the sun.
The internal walls and ceilings have been upgraded to have insulation providing extra security from the sun and cool weather.
It is positioned right in front of car parks, water taps, shops, BBQ area and much more.
The property was offered by Hockingstuart agents Philip Down and Steve Edmund.
It was recently rewired with electricity and had recently been re-earthed and fitted with new power outlets, updated with safety switches and a smart meter.
</body></html>

Dromana boat shed sold 

<html><body>
Parramatta is set to become Sydney’s future, according to Savills’ latest report.
“Forecast to be vital to Sydney’s future, Parramatta is now a city in transition with significant residential and commercial development activity taking place.
“The centre of Parramatta is already considered Sydney’s second CBD with an extensive commercial centre with substantial retail amenities.
“The suburb has benefitted from a number of private sector companies relocating or opening new offices in the area.
“These moves mean there is a greater number of high earning professionals, not just working, but often living in the area as well as utilising the retail, dining and leisure facilities.
“Aside from the ongoing development activity and popular dining precinct, Parramatta will continue to evolve into more of a destination due to the infrastructure improvements due to take place.
“The State Government has committed $10 billion for infrastructure investment for Parramatta and Western Sydney, which includes the new Sydney Metro West, Light Rail network, integrated and upgraded roads, rail, buses and ferry services,” the report stated.
Property values in Parramatta have experienced strong growth over the past decade.
“House prices have increased by 136 percent and apartment prices by 118 percent, outperforming the average growth seen across Sydney as a whole.
“However, over the past year, the rate of annual growth has slowed to 3 percent and 5 percent for houses and units respectively, reflecting a more subdued housing market seen across Sydney.
“Despite this rise in value, Parramatta remains a relatively affordable location to buy residential property.
“The median price of a house in the suburb of Parramatta in December 2016 was $1.19 million.
“This is slightly higher than average across all of greater Sydney but offers a substantial discount when compared to Central Sydney, the Inner West and the north western suburbs.
“Units in Parramatta have a medium price of $592,000, which is a discount of 16 percent compared to the Sydney average.
“This is due to a higher concentration of units in central, more expensive locations.
“Across the wider area of the City of Parramatta, prices can vary significantly.
“Oatlands, a suburb with high quality, family housing stock, is the most expensive location with the average house price nearly reaching $1.5 million.
“By comparison, areas to the south east of Parramatta such as Granville and Rosehill are cheaper with an average price for a unit of around $500,000,” the report advised.
A two bedroom unit at <a href="https://www.realestate.com.au/property-apartment-nsw-rosehill-125583526" target="_blank">11/88 James Ruse Drive</a>, Rosehill (above) has been listed for between $570,000 to $600,000.
Similarly a two bedroom unit at <a href="https://www.realestate.com.au/property-apartment-nsw-granville-125581878" target="_blank">11/9-11 Boundary Street</a>, Granville (below) has been listed for between $589,950 to $629,950.
<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/2017/05/31/11_9-11%20Boundary%20Street.jpg" alt="">
Large-scale unit block developments are now common in Parramatta according to Savills.
“In response to the increased demand and changing demographics of the area, there has been a significant amount of residential development activity in Parramatta including a number of large-scale unit blocks.
“These apartments are popular with investor buyers and have increased the number of rental properties available.
“The proportion of private renters in Parramatta is already significantly higher than average, accounting for half of the population compared to a quarter across Greater Sydney.
“Tenants are attracted to the cheaper rents available. The median weekly rent in December 2016 was $550 for houses and $470 for units, around 15 percent cheaper than the Sydney average, resulting in average yields of 2.4 percent and 4.1 percent respectively.
“Unsurprisingly, given this new stock coming to the market, vacancy rates in Parramatta are slightly higher than the average across Sydney but the rental market remains active and the median rent has remained relatively stable over the past two years, following large increases,” the report commented.
Parramatta has one of the fastest growing populations of any local government area in Sydney, according to Savills.
“From 2011 to 2016, estimates show the population across the city of Parramatta has increased 17.6 percent, twice the rate of growth seen across Greater Sydney.
“This has significantly added to the demand for real estate in the area, equating to 7,150 new residents a year.
“Employment opportunities are a key reason people are drawn to live in an area.
“The City of Parramatta provides a wide range of employment options for both residents and surrounding locations.
“There are currently 92,000 residents of the city who are employed, but there is a daily work population of over 157,000, indicating at least 40 percent of the workforce lives outside Parramatta.
“Health care and social assistance is the dominant employment industry, with almost 25,000 employees, primarily driven by the Westmead health precinct.
“Across the city of Parramatta, there is a similar breakdown of household type to the Sydney average.
“There are higher numbers of lone person and group households which reflects the increasing number of young people moving to the area.
“Across the suburb, nearly half of residents are aged between 20 and 34 compared to a quarter across greater Sydney.
“Parramatta is a culturally diverse city and has a large international community.
“In the suburb, 21.3 percent of residents describe their ancestry as Indian and a further 21.2 percent as Chinese.
“Just 19.3 percent describe it as Australian or English compared to over half across Greater Sydney.
“As such, many international buyers are attracted to the area, providing an important source of demand for the housing market as both owner-occupiers and investors,” the report stated.
Parramatta’s landscape is expected to change if project development continues Savills says.
“The Parramatta CBD has seen a surge of residential and commercial development in recent years.
“If the projected development pipeline is realised, the Parramatta landscape is expected to continue this significant transformation over the next decade.
“This should contribute to strong population growth for the region and an increase of much needed supply of both commercial and residential properties.
“Forecasts suggest the population is set to increase by 74.5 percent over the next 20 years, to 416,750 people compared to a 37 percent increase across Greater Sydney.
“This is the third largest increase forecast of all Sydney’s Local Government Areas (LGA) following Camden and The Hills.
“The major investment in infrastructure and the ongoing commercial development is expected to create more jobs in the area and therefore an increase in demand for residential property.
“By 2021, Parramatta’s economic growth rate is anticipated to nearly double from 2.4 percent to 4.6 percent, taking the total employment to 186,000 people.
“The financial and insurance services sector is projected to see the most concentrated economic growth.
“The increased residential supply in Parramatta, combined with substantial government investment in infrastructure has increased general awareness of the Parramatta region.
“Whilst many buyers are still expected to be local to the western suburbs of Sydney, the ongoing changes and development activity are expected to broaden the range of interest and appeal to a larger catchment area, which is already starting to take place," the report stated.
</body></html>

Parramatta the future of Sydney: Savills

<html><body>
Stawell and Moe are the cheapest Victorian localities to rent a unit, according to Investar’s latest June report.
The property investment firm says that the median rent at Stawell and Moe is $160.
This is followed by Traralgon with $165 and Portland with $170.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="67">
Suburb
</td>
<td valign="top" width="64">
Postcode
</td>
<td valign="top" width="81">
Bedrooms
</td>
<td valign="top" width="117">
Current median rent
</td>
</tr>
<tr>
<td valign="top" width="67">
Stawell
</td>
<td valign="top" width="64">
3380
</td>
<td valign="top" width="81">
2
</td>
<td valign="top" width="117">
$160
</td>
</tr>
<tr>
<td valign="top" width="67">
Moe
</td>
<td valign="top" width="64">
3825
</td>
<td valign="top" width="81">
2
</td>
<td valign="top" width="117">
$160
</td>
</tr>
<tr>
<td valign="top" width="67">
Traralgon
</td>
<td valign="top" width="64">
3844
</td>
<td valign="top" width="81">
Studio and 1
</td>
<td valign="top" width="117">
$165
</td>
</tr>
<tr>
<td valign="top" width="67">
Portland
</td>
<td valign="top" width="64">
3305
</td>
<td valign="top" width="81">
2
</td>
<td valign="top" width="117">
$170
</td>
</tr>
<tr>
<td valign="top" width="67">
Morwell
</td>
<td valign="top" width="64">
3840
</td>
<td valign="top" width="81">
2
</td>
<td valign="top" width="117">
$175
</td>
</tr>
</tbody></table>
A two bedroom unit at <a href="https://www.realestate.com.au/property-unit-vic-moe-404820299" target="_blank">3/9 Evelyn Street</a>, Moe (above) has been listed for $155 per week.
Similarly a two bedroom unit at <a href="https://www.realestate.com.au/property-unit-vic-stawell-420781218" target="_blank">7/103-105 Cooper Street</a>, Stawell (below) has been listed for $160 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/2017/06/09/7_103-105%20Cooper%20Street.jpg" alt="">
</body></html>

Stawell and Moe the cheapest Victorian localities to rent units: Investar

A trio of Queensland property groups have unveiled plans for a $300 million mixed-use redevelopment of the former Noosa Bowls Club site, a proposal that would deliver more than 200 new homes in one of the Sunshine Coast's most supply-constrained markets.

Kilter Property, Frank Developments and Calile Malouf Investments are behind the plans for the 1.8-hectare site at <a href="https://www.apartments.com.au/new-apartments/99-noosa-drive-noosa-heads-qld-4567">99 Noosa Drive</a>, which would transform the long-vacant site into a new residential precinct featuring 208 apartments, retail, hospitality and public space.

The proposal comes as Noosa continues to grapple with housing affordability and a shortage of permanent accommodation, particularly for key workers. The site's location in Noosa Junction, close to shops, public transport and employment, aligns with the direction of Noosa Council's Housing Strategy, which encourages higher-density housing within established activity centres rather than continued urban expansion.

The draft plans include 48 affordable-by-design apartments and 48 rooming accommodation units aimed at key workers. Around 2,000 sqm of ground-floor retail and food and beverage space would activate the street frontage, alongside a new public town square and landscaped open space.

<img alt="Noosa" data-entity-type="file" data-entity-uuid="2dd02f53-1360-4e51-801e-bfd61a6c980e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-26%20at%208.44.34%E2%80%AFPM.png?VersionId=x1iNs3BSMN6Jy7YUwaBZMHRrrKX2hMpy" />

&nbsp;

Frank Developments Founder and Director Frank Licastro said the development would continue the company's focus on architecturally-led residential projects while addressing one of the region's biggest challenges.

"Not only will this project exude a sense of luxury, it will also enhance not only the built environment but also the surrounding community," Licastro said.

"Noosa's success relies on the people who live and work here. Providing well-designed accommodation for key workers is critical to supporting the local economy and ensuring the Shire can continue to thrive."

Kilter Property Co-Founder Huw Williams said the focus was on delivering additional permanent housing while creating a mixed-use destination that benefits both residents and the wider community.

"Our focus is on delivering a well-considered mixed-use project that provides more permanent housing options, supports local workers and businesses, and delivers an exceptional product for the local market," Williams said.

"The redevelopment vision aligns with the long-term evolution of Noosa Junction as a vibrant activity centre, creating a destination that enhances the area's character while delivering significant economic and community benefits."

Calile Malouf Investments, best known for its role in Brisbane's James Street precinct and The Calile Hotel, will bring its place-making experience to the project. The company recently commenced construction on The Calile Noosa hotel and says the residential development will complement its growing investment in the region.

CMI Director Cal Malouf said the aim was to create a walkable precinct combining housing, retail and hospitality while remaining true to Noosa's character.

"We see a similar opportunity in Noosa to deliver a vibrant, walkable destination that combines exceptional housing, hospitality and retail in one integrated project," Malouf said.

Brisbane-based Cavill Architects has been appointed to design the project.

Joel Robinson

Noosa Bowls Club to be redeveloped into mixed-use apartment precinct

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.

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.

Staff reporter

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News