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The failure of regulators to halt recent east coast house price growth has led to the downgrade of the wider Australian banking sector.
The global ratings agency S&amp;P Global Ratings has downgrade the credit quality of 23 banks and lenders, including Australia's biggest regional bank.
It comes as it warns of a sharp correction scenario in property prices and bigger bank losses.
The Ratings agency base case for the housing market is an "orderly unwind" of house prices.
"We still maintain our base case expectation that the unwinding of these imbalances will be orderly and we think that will be either a slowdown growth rate of property prices or a very mild decline in property prices," S&amp;P advised.
"That is our base case."
The downgrades were triggered by S&amp;P's decision to increase Australia's "economic risk" score, from three to four on account of economic imbalances, specifically rising property prices and high household debt.
The big four banks were spared because of their implied "too big to fail" government guarantee status. 
S&amp;P Global Ratings director Sharad Jain said risks to the Australian economy had become even more pronounced since the ratings agency downgraded the Australian banking sector to negative watch back in October 2016 as house prices continued to move higher and higher.
"Growth in private sector debt was more or less in line with expectations since then while property prices accelerated in the two quarters," Mr Jain said.
Mr Jain said that until the imbalances had "substantially unwound" the banking sector remains exposed to an "elevated level of risk of a sharp correction for property prices".
"To reflect the increased risk, we have lowered our assessment of the standalone credit profiles [SACPs] of almost all financial institutions operating in Australia."
Mr Jain acknowledged that house price growth had begun to slow and that the macro-prudential interventions made by APRA were likely to have more impact in the months ahead and see the imbalances "move in the right direction".
Jain said that although he expected macro-prudential measures from the Australian Prudential Regulation Authority, such as caps on investor and interest only lending, to contribute to a further slowing of house price growth in Melbourne and Sydney, the impact of a correction on the banks "was no longer consistent with our previous assessment".
Among the bigger institutions to be hit by the downgrade are AMP Bank, Bank of Queensland and Bendigo and Adelaide Bank. AMP has been downgraded to A+ with a negative outlook to A with a stable outlook while Bank of Queensland and Bendigo and Adelaide Bank have both been downgraded from A- with a negative outlook to BBB+ with a stable outlook.
Among the others to be downgraded were Australian Central Credit Union, Auswide Bank, Community CPS Australia, Credit Union Australia, Defence Bank, Fisher &amp; Paykel Finance, G&amp;C Mutual Bank, Greater Bank, IMB, Liberty Financial, mecu, Members Equity Bank, MyState Bank, Newcastle Permanent, Police Bank, QPCU, Rural Bank, Teachers Mutual and Qudos Mutual (formerly Qantas Credit Union).
The downgrade brings S&amp;P's ratings in line with rival Moody's.
Meanwhile the Australian Financial Review says investors are surging into mortgage bonds in Australia.
New residential mortgage-backed securities issuance has more than doubled so far this year to $10.5 billion from $5.1 billion a year earlier, data compiled by Bloomberg show.
More than half of the issuance has been fuelled by non-bank lenders. 
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j.ballantyne1990-6AQqhLzZaK

Orderly correction in property prices forecast by S&P

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Barry Plant Mount Waverley has been accused of misleading consumers in the way it categorised properties for sale on realestate.com.au.
The properties were allegedly placed in price search parameters lower than the appraisal price misrepresenting prices on 25 properties.
The allegations relate to 2014 and 2015 in Burwood, Chadstone and Ashwood, but mostly Mount Waverley. 
It was alleged an appraisal figure on a three bedroom home in Mount Waverley of $1.4 million to $1.6 million came up in internet searches listed at $850,000.
The property sold at $1.5 million.
Another house on the website at $650,000+, had been appraised at $800,000 and sold for $860,000.
Documents show Barry Plant Mount Waverley agents accurately envisaged selling prices, however CAV claims they made internet price misrepresentations.
The case will go to mediation in July, with a ten day trial set down for June 4 next year.
Barry Plant is due to respond to the allegations to the court by mid-next month.
The internet search engine brings up a list of advertised properties which corresponded to the price range entered by the consumer.
Consumer Affairs Victoria accuses the agent of representing to potential purchasers that the vendors would sell at the “blind” price, when in fact the agreed estimated selling price was more.
Melbourne South Eastern Real Estate Pty Ltd (ACN: 128 550 541) – trading as Barry Plant (Mount Waverley), Barry Plant (Oakleigh) and Barry Plant (Wheelers Hill) will front the Federal Court of Australia, for alleged contraventions of the Australian Consumer Law and the Australian Consumer Law (Victoria).
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Barry Plant Mount Waverley internet price guidance triggers CAV court action

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A six bedroom Clayfield house has been sold for $1.75 million making it Brisbane’s most expensive weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-house-qld-clayfield-125260494" target="_blank">122 Alexandria Road</a>, the property has been recently renovated. It last traded in 2010 at $1.3 million.
Enjoying many living zones including a gourmet kitchen that leads to an oversized private alfresco dining/entertaining guest area which overlooks the pool and gardens.
<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/2017/05/21/122%20Alexandra%20Road-2.jpg" alt="">
The kitchen has a huge island bench, stone and marble benches, walk-through butler’s pantry including Miele appliances.
Master suite features walk-in robe along with ensuite with dual basin.
The property was offered through Ray White agent Damon Warat.
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Six bedroom Clayfield house sold for $1.75 million

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A new development at Wentworth Point, in Sydney’s western suburbs, is utilising smart technology to attract buyers for its final stage of release.
All apartments at One the Waterfront by PietyTHP comes with the built-in home automation technology that can control an entire home environment and increase security.
A wall mounted tablet acts as the main user panel to operate the device. It allows for lighting, audio and TV control, as well as remote intercom connection with direct access to the 24 concierge service located in the private lobby.
The Push System and fibre optic network also provides superfast internet and is offered as a standard inclusion in all one, two or three bedroom apartments.
“In the past decade technology has advanced rapidly. We have smart phones, smart cars, even smartwatches however most new apartments have remained in the stone ages,” remarked Rhys Morgan, national sales director at LINK.
“Properties of the future will connect and integrate people’s lives where lights, music and blinds can all be controlled from your phone whether or not you’re even in the building. One The Waterfront is leading the smart home revolution by offering this to buyers now.”
When completed, the Wentworth Point development will comprise nine buildings set along the waterside.
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Smart tech a seller for One the Waterfront in Wentworth Point

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The home value of Perth continues to decline, according to CoreLogic’s latest report.
The property data firm says that in the past 12 months Perth’s home value has declined by 4.5%.
This is followed by a monthly decline of 0.7% in home values. There was a 0.1% weekly decline too in the west.
<a href="https://www.propertyobserver.com.au/images/2017/05/22/Screen%20Shot%202017-05-22%20at%2012.19.35%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/2017/05/22/Screen%20Shot%202017-05-22%20at%2012.19.35%20pm.jpg" alt="">
Sydney and Melbourne home values continue to grow significantly with gains of 11% and 12% respectively in the past 12 months.
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Perth's home values still in decline: CoreLogic

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Echuca's residential market continues to remain strong with tight supply, according to Herron Todd White’s (HTW) May report.
The property valuation firm says that the lack of supply is likely to be temporarily alleviated due to additional supply in both Moama and Echuca.
“The local market continues to be relatively strong with generally tight supply on account of limited residential land supply in the past 12 to 18 months, although this is likely to be alleviated in the short term by additional supply in both Moama and more particularly Echuca,” the report said.
“Average pricing has pushed up in recent times with good demand and limited supply in the $350,000 to $450,000 bracket resulting in an upward shift in demand for properties priced in excess of $400,000 for mortgage belt type properties.
“Melbourne buyers continue to underpin the higher end of the market with several off river sales in excess of $800,000, particularly in Moama for custom built and well finished properties.
“The buoyant agricultural sector has also been a positive for the local economy.
“A slow down in the market in Melbourne or closure of a significant factory would likely affect the higher market segments and mortgage belt segments respectively, although there is likely to be significant cushioning from any metropolitan softening because the local market has not charged ahead at the same rate, with local prices more likely to plateau.”
A three bedroom house at <a href="https://www.realestate.com.au/property-house-vic-echuca-124713066" target="_blank">244 Farley Road</a>, Echuca (above) has been listed for $435,000.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/property-house-vic-echuca-125472554" target="_blank">11 Charlton Court</a>, Echuca (below) has been listed for $445,000.
<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/2017/05/19/11%20Charlton%20Court.jpg" alt="">
A four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-echuca-124328474" target="_blank">135 Stawell Street</a>, Echuca (below) was recently sold for $422,500.
<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/2017/05/19/135%20Stawell%20Street.jpg" alt="">
Similarly a three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-echuca-125123286" target="_blank">204 High Street</a>, Echuca (below) was recently sold for $376,000.
<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/2017/05/19/204%20High%20Street.jpg" alt="">
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Echuca residential market remains strong: HTW

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Sandy Bay ranks as the most expensive place in Hobart to purchase a house, according to a recent Investar report.
The property investment firm says that the median house price in Sandy Bay is $850,000.
This is followed by West Hobart with $690,000 and New Town with $600,000.
<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="122">
Current median price
</td>
</tr>
<tr>
<td valign="top" width="96">
Sandy Bay
</td>
<td valign="top" width="64">
7005
</td>
<td valign="top" width="70">
4
</td>
<td valign="top" width="122">
$850,000
</td>
</tr>
<tr>
<td valign="top" width="96">
West Hobart
</td>
<td valign="top" width="64">
7000
</td>
<td valign="top" width="70">
4
</td>
<td valign="top" width="122">
$690,000
</td>
</tr>
<tr>
<td valign="top" width="96">
New Town
</td>
<td valign="top" width="64">
7008
</td>
<td valign="top" width="70">
4
</td>
<td valign="top" width="122">
$600,000
</td>
</tr>
<tr>
<td valign="top" width="96">
Blackmans Bay
</td>
<td valign="top" width="64">
7052
</td>
<td valign="top" width="70">
4
</td>
<td valign="top" width="122">
$569,000
</td>
</tr>
<tr>
<td valign="top" width="96">
Tranmere
</td>
<td valign="top" width="64">
7018
</td>
<td valign="top" width="70">
3
</td>
<td valign="top" width="122">
$547,500
</td>
</tr>
<tr>
<td valign="top" width="96">
Mount Nelson
</td>
<td valign="top" width="64">
7007
</td>
<td valign="top" width="70">
3
</td>
<td valign="top" width="122">
$499,000
</td>
</tr>
<tr>
<td valign="top" width="96">
South Hobart
</td>
<td valign="top" width="64">
7004
</td>
<td valign="top" width="70">
3
</td>
<td valign="top" width="122">
$495,000
</td>
</tr>
<tr>
<td valign="top" width="96">
Kingston
</td>
<td valign="top" width="64">
7050
</td>
<td valign="top" width="70">
4
</td>
<td valign="top" width="122">
$492,500
</td>
</tr>
<tr>
<td valign="top" width="96">
North Hobart
</td>
<td valign="top" width="64">
7000
</td>
<td valign="top" width="70">
3
</td>
<td valign="top" width="122">
$475,000
</td>
</tr>
<tr>
<td valign="top" width="96">
Lindisfarne
</td>
<td valign="top" width="64">
7015
</td>
<td valign="top" width="70">
4
</td>
<td valign="top" width="122">
$460,000
</td>
</tr>
</tbody></table>
A four bedroom house at <a href="https://www.realestate.com.au/property-house-tas-sandy+bay-124612226" target="_blank">13 Powell Street</a>, Sandy Bay (above) has been listed for over $895,000.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-tas-sandy+bay-124351546" target="_blank">56 York Street</a>, Sandy Bay (below) was sold on March this year for $850,000.
<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/2017/04/18/56%20York%20Street.jpg" alt="">
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Sandy Bay the most expensive locality in Hobart to purchase a house: Investar

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Melbourne’s industrial markets are likely to benefit from ongoing economic and population growth, strong retail trade and proposed infrastructure projects, according to Cushman &amp; Wakefield's latest report.
Given the strong fundamentals and limited available stock in general, competition to secure investment assets will remain strong over the near term which may prompt further, though modest, yield compression, the report advised.
<a href="https://www.propertyobserver.com.au/images/2017/04/18/Screen%20Shot%202017-04-18%20at%209.30.26%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/04/18/Screen%20Shot%202017-04-18%20at%209.30.26%20am.jpg" alt="">
"Melbourne’s occupier market remains active, driven by manufacturing, logistics, and, postal and warehousing sectors.
Available space in the East/South East markets remains tight, as such most of the larger scale leasing activity has been in the Western market.
Anmar and Isuzu trucks have most recently committed to a purpose-built facility (37,000 sq m) in DEXUS’ Industrial Estate on Foundation Road, Laverton North," the report stated.
<a href="https://www.propertyobserver.com.au/images/2017/04/18/Screen%20Shot%202017-04-18%20at%209.30.37%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/04/18/Screen%20Shot%202017-04-18%20at%209.30.37%20am.jpg" alt="">
"In reflection of limited vacant space, prime net face rents in the East and South East markets have shown strongest rental growth, increasing by 11% and 12% over the last six months to $90-$100 and $85-$95 per sq m respectively for assets &lt;4,000 sq m and &lt;6,000 sq m.
Melbourne industrial investment totalled $200m in Q1 2017, a considerably stronger result than the $95m recorded in Q1 2016," the report commented.
<a href="https://www.propertyobserver.com.au/images/2017/04/18/Screen%20Shot%202017-04-18%20at%209.30.53%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/04/18/Screen%20Shot%202017-04-18%20at%209.30.53%20am.jpg" alt="">
Rolling annual investment volume increased 12% q-o-q, largely as a result of investment in the West being above the longer-run average over the past twelve months.
"The West recorded the largest investment volume for the second consecutive quarter, with much of the $115m in Q1 underpinned by Deutsche Asset Management’s acquisition of 45 Fulton Drive, Derrimut for $36.1m, coupled with Cache Logistics Trust’s purchase of 217-225 Boundary Road, Laverton North for $22.2m.
In light of strong investment into the West, prime yields in this market have tightened 25-50 bps over the past six months to 6.25%-6.75%," the report stated.
<a href="https://www.propertyobserver.com.au/images/2017/04/18/Screen%20Shot%202017-04-18%20at%209.31.02%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/04/18/Screen%20Shot%202017-04-18%20at%209.31.02%20am.jpg" alt="">
However, yields remain tightest in the South East, reflecting strong competition for limited quality stock.
 
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Ongoing economic growth contributing to Melbourne's industrial market

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Throughout 2016 Townsville’s retail market remained patchy, according to Herron Todd White’s recent report.
The property valuation firm says that the total transactions of all properties have equalled to $5 million.
"Quality properties with strong lease covenants transacted, several high profile neighbourhood shopping centres changed hands and a number of smaller showrooms, bulky goods centres and convenience centres also transacted at around the $5 million mark," the report commented.
This indicated a strong improvement for quality assets in regional areas at investment yields of circa 7%, demonstrating the yield disparity when compared with similar style assets in the southern metro markets.
"The year ahead for the retail sector is likely to remain patchy, with quality property with strong lease covenants continuing to attract interest.
However the balance of the market is likely to remain in a holding pattern at the bottom of the market cycle," the report warned.
The Cairns retail market passed through the bottom of the cycle during the course of 2014, but the limited recovery thus far means that the retail property market remains relatively flat.
"It must also be said that retail property sales in Cairns are extremely sporadic, with most sales involving retail property of mixed use retail and office buildings or tenant buyout of single premises.
High exposure CBD retail space remains reasonably well occupied, but vacancies are more noticeable in the lesser exposure locations and on the CBD fringe.
Rents have remained generally stable, showing ranges of $600 to $800 per square metre per annum for prime CBD space and $1,000 to $1,500 per square metre per annum in key tourist precincts such as the Cairns Esplanade," the report stated.
"Blue chip retail located within the main Esplanade tourist strip as well as the central business district shows reasonably low vacancies, although there is also limited demand from new businesses.
"There remains good investor demand for well leased properties which rarely come onto the market.
"Though the economic conditions in Cairns are likely to improve through buoyant tourism activity, little change is expected in retail market conditions during 2017."
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Townsville retail market begins to improve while Cairns remains flat: HTW

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A 500 square metres of building area on a 654 square metre site in Deepdene, Melbourne has sold to a local investor for $3,532,000.
The 68-72 Whitehorse Road property is zoned Commercial 2 and includes 13 metres of street frontage to Whitehorse Road, 48 metres on Barnsbury Road and rear laneway frontage of 13 metres.
Marketing agents Tom Maule and Adrian Boutsakis of Teska Carson said they received 80 bids from eight separate bidders for the property.
They said the property offered development potential and was sold subject to three leases with a total rental of $114,510 per annum on a 3.24 percent yield.
The tenancies include a large retail showroom, a two bedroom residence, and warehouse space.
Boutsakis said the property was close to public transport, recreational facilities, several of private and public schools, and quick access to major arterial routes.
He said both investors and developers saw the location as an attractive investment due to increasing demand from a growing population.   
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Deepdene mixed use property sells for $3,532,000

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

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