One of Brisbane's last major riverfront redevelopment opportunities has taken a significant step forward, with Lendlease selected as the Queensland Government's preferred development partner for the former Visy site in South Brisbane.

The seven-hectare industrial site, positioned between South Bank and West End and 1.3 kilometres from the Brisbane CBD, will be transformed into a mixed-use precinct expected to deliver more than 4,000 new homes alongside extensive public open space and riverfront parkland.

The project is one of the largest urban renewal opportunities currently planned in Brisbane and is expected to play a key role in accommodating the city's growing population ahead of the 2032 Olympic and Paralympic Games.

Plans for the precinct include a network of riverfront promenades and boardwalks, new public plazas, parkland, amphitheatre-style gathering spaces and shared pedestrian and cycling links designed to reconnect the long-isolated site with the Brisbane River.

The Queensland Government is targeting delivery of the first homes and key public spaces before the 2032 Games, allowing the precinct to begin contributing new housing and public amenity well before the broader masterplan is complete.

The redevelopment is also expected to support more than 3,000 jobs across planning, construction and ongoing operations.

For Lendlease, the appointment adds another major urban regeneration project to its Queensland portfolio. The developer has operated in the state for more than 70 years and has delivered a number of large-scale mixed-use precincts in partnership with government.

Lendlease Development CEO Claire Johnston said the project represented one of Brisbane's most significant redevelopment opportunities.

"The transformation of the former Visy site represents a rare opportunity to reimagine one of Brisbane's most significant riverfront locations, deliver thousands of much-needed homes, and create long-term legacy," Johnston said.

"In partnership with the Queensland Government, we have the opportunity to create a new riverside destination that will help shape Brisbane's growth and how people experience the city for decades to come.

"This is exactly the type of large-scale, city-shaping development that will provide lasting benefits for Queensland, bringing together housing, jobs and world-class public spaces."

Deputy Premier and Minister for State Development, Infrastructure and Planning Jarrod Bleijie said the riverfront transformation would deliver a thriving new community precinct.

“The Crisafulli Government is delivering this golden opportunity to unlock a riverfront jewel for all Queenslanders,” Deputy Premier Bleijie said.

“This is a once-in-a-generation moment to reshape a significant slice of Brisbane and deliver lasting benefits – thousands of new homes, and public spaces for all Queenslanders to enjoy well beyond the 2032 Olympic and Paralympic Games – unlike Labor’s plan which would have delivered zero benefits and zero new homes.

“Queensland is well and truly open for business and through partnership with the private sector, we are accelerating delivery while ensuring strong housing, community and economic outcomes."

Early works on the precinct are expected to commence in April 2027.

Joel Robinson

Lendlease selected to deliver transformative South Brisbane riverfront precinct

Eddy Haddad's <a href="https://www.apartments.com.au/developers/level-33">Level 33</a> is levelling up its approved Wollongong development, as the coastal city south of Sydney continues to prove popular in the high-density development space.

Level 33, a longtime developer in the Wollongong area, has gone through the NSW Government's Housing Delivery Authority to upsize its approved two-tower development on the corner of Crown Street and Gladstone Avenue, just 100 metres from Wollongong Station.

The developer currently has approval for 252 apartments across two buildings rising to 19 storeys. It is now seeking approval for 33 and 38-storey towers that would deliver 467 apartments, including 67 affordable homes.

Designed by <a href="https://www.apartments.com.au/architects/bka-architecture">BKA Architecture</a>, the development would comprise apartments above a three-level podium with around 1,100 sqm of retail space, along with basement parking for 448 vehicles.

According to the Urban Design Report by BKA, the proposal has the capacity to "reinforce the precinct's identity by strengthening links between health, education, and transport services, while also contributing to Wollongong's ongoing evolution as a key regional centre."

Wollongong is somewhat in vogue. Between Level 33 and Urban Property Group, the two developers have several thousand apartments planned across the city.

Level 33 is currently delivering Easterly Wollongong, one of its most boutique projects to date with just 21 high-end apartments, as well as Atchison &amp; Kenny, a 329-apartment development due for completion later this year.

The developer plans to redevelop the 13,088 sqm WIN Grand megasite into <a href="https://www.apartments.com.au/new-apartments/crown-square-216-238-keira-street-wollongong-nsw-2500">Crown Square</a>, a new $500 million precinct with nearly 600 apartments. It also has more than 900 apartments planned for the former Bunnings Warehouse site at the intersection of Gipps and Flinders streets.

Urban Property Group is also playing a major role in the city's transformation. Its five-tower Keira Place precinct will deliver more than 800 homes, and it has recently lodged plans for a further 300 apartments near Wollongong Station.

First look: Level 33 upsizes Wollongong apartment towers

Just a week after filing plans for the final stage of its major Keira Place masterplan, <a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has unveiled another significant housing proposal in Wollongong, this time targeting a prominent site opposite North Wollongong Station.

The developer has lodged a State Significant Development Application for a 38-storey mixed-use tower at <a href="https://www.apartments.com.au/new-apartments/4-4a-flinders-street-north-wollongong-nsw-2500">4-4A Flinders Street</a>, around one kilometre north of the <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place precinct</a> currently taking shape on the edge of the CBD.

<img alt="First look: Urban Property Group plans 38-storey North Wollongong tower as Keira Place expansion gathers pace" data-entity-type="file" data-entity-uuid="2b6428f1-6405-4038-8476-897de440e90d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/flinders%20podium.png?VersionId=QLqEvK0OuCEwRC47oHNftrw2B1YqaHF8" />

Designed by Studio.SC, the proposal comprises a 38-storey mixed-use development containing 303 apartments, including 45 affordable housing units, alongside 174 co-living residences. The scheme also includes ground-floor retail space, extensive landscaping and public domain improvements.

Studio.SC noted in the proposal it "outlines a vision for a landmark transit-oriented mixed-use development centred around North Wollongong Station, designed to support the city’s future growth while responding to the NSW Government’s housing and planning reforms."

The architecture firm said the proposal responds to the opportunities and constraints shaping future growth within the 400-metre catchment of the station and represents "a coordinated and future-focused approach to urban intensification, contributing to the long-term evolution of North Wollongong as a connected, walkable and high-density station precinct."

The site occupies a strategic corner bounded by Flinders Street, Station Street, Stafford Street and the Princes Highway, directly opposite North Wollongong Station.

<img alt="First look: Urban Property Group plans 38-storey North Wollongong tower as Keira Place expansion gathers pace" data-entity-type="file" data-entity-uuid="7863adad-1f71-4022-b850-f44b252738fd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/flinders%20podium%20a.png?VersionId=WsU7av0g8_8R2tGHWxgHeFSlhu7yeY1V" />

The proposal follows Urban Property Group's recent submission for the second and final stage of Keira Place, which would deliver a further three buildings comprising 657 homes opposite Beaton Park. It builds on the first stage, which features 150 apartments across two towers and recently commenced construction.

Urban Property Group CEO Patrick Elias said breaking ground on the first stage marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/urban-property-group-unveils-trio-of-towers-for-next-stage-of-new-wollongong-precinct-keira-place">Urban Property Group unveils trio of towers for next stage of new Wollongong precinct, Keira Place</a>

First look: Urban Property Group plans next major Wollongong tower

<a href="https://www.apartments.com.au/developers/arada">Arada</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'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 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 files for trio of apartment towers in Campsie town centre</a>

Arada entered the Australian market in 2024 and has rapidly assembled a significant development pipeline across Sydney. Alongside its Campsie holdings, the developer is soon to launch <a href="https://www.apartments.com.au/new-apartments/wattle-green-2-fishburn-crescent-castle-hill-nsw-2154">Wattle Green</a> in Castle Hill, and has expanded its local operations following its acquisition of construction firm Roberts &amp; Co.

Located around 14 kilometres south-west of the Sydney CBD, the site sits at the centre of one of Sydney's fastest-changing middle-ring precincts. The Metro conversion of Campsie Station, combined with Canterbury-Bankstown Council's master planning framework, is driving significant residential intensification around Beamish Street and North Parade, with thousands of new homes expected over coming decades.

First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans

For the first time in a long time, Australia's inflation story is starting to look more like a landing than a fight.

The latest Consumer Price Index figures from the Australian Bureau of Statistics showed annual inflation eased to four per cent in May, down from 4.2 per cent in April. On the surface, that might not seem like a major move. Inflation remains above the Reserve Bank's target range and some categories continue to record stubborn price growth.

But the significance of this result lies less in where inflation sits today and more in what it means for where interest rates are likely heading next.

The biggest takeaway is that inflation continues to move in the right direction.

Markets had been bracing for another sticky result after a period where progress appeared to stall. Instead, headline inflation came in softer than expected, helped by falling fuel prices and easing transport costs. Annual transport inflation halved from 6.6 per cent in April to 3.3 per cent in May, while automotive fuel prices fell 11.9 per cent during the month following lower oil prices and the impact of reduced fuel excise measures.

While petrol prices don't solve Australia's affordability challenges, they are one of the most visible and immediate costs for consumers. Falling fuel costs feed through the economy quickly, helping ease pressure on household budgets and business operating expenses.

The ABS data also showed headline inflation is now sitting at its lowest annual level in several months, reinforcing the broader trend that price growth is gradually moderating.

That trend is important because it aligns with what many economists and lenders have been saying for the last month.

Prior to this week's inflation data, ANZ, NAB and Commonwealth Bank had all shifted their forecasts, now believing the Reserve Bank had likely reached the peak of the interest rate cycle. Following the May inflation release, ANZ reaffirmed that view.

In its latest economic update, ANZ said it expects quarterly trimmed mean inflation to come in at 3.7 per cent for the June quarter, slightly below the Reserve Bank's forecast of 3.8 per cent. Importantly, the bank said that outcome, when combined with slowing economic activity, "supports our view that the cash rate has peaked".

The Reserve Bank has spent the better part of three years attempting to bring inflation under control through higher interest rates. If Australia's major banks are correct and rates have now peaked, the conversation shifts from how much higher rates could go to when they might begin coming down.

Westpac's caution comes from underlying inflation. The trimmed mean, the measure most closely watched by the Reserve Bank, increased from 3.4 per cent to 3.6 per cent annually. Housing inflation remains elevated at 6.5 per cent, reflecting ongoing increases in rents, electricity costs and new dwelling construction.

Electricity prices remain particularly problematic, rising 21.1 per cent over the past year following the removal of government rebates.

Housing construction costs are also showing signs of renewed pressure. ANZ noted new dwelling costs rose 0.9 per cent in May and are now running at an annualised pace of 8.6 per cent over the past three months. Builders continue to face higher labour, fuel and material costs, a reminder that inflationary pressures have not completely disappeared.

Housing affordability has deteriorated largely because of higher interest rates rather than higher property prices alone. Even modest reductions in mortgage rates would improve borrowing capacity, increase buyer confidence and reduce repayment pressure on existing homeowners.

While August is far from a certainty, the latest inflation result has strengthened the view that the next move in rates is more likely to be down than up. For borrowers, buyers and the development sector, that alone represents a significant shift from the conversation that dominated much of the past two years.

The inflation result the property market was waiting for

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AMP's profit has been hit by its appearance at the royal commission, after which customers pulled $4 billion from its wealth management arm in 2018.
The beleaguered wealth manager's profit plummeted 97 per cent to $28 million after taking a beating at the banking royal commission.
Revenue from ordinary operations dropped 55 per cent to $820 million.
AMP made a profit of $848 million a year earlier.
The company said its underlying earnings, which strip out a lot of one-off costs and gains, were down a more moderate 35 per cent to $680 million.
It also recorded $656 million in customer remediation largely related to misconduct aired at the financial services royal commission.
AMP cut its final dividend from 14.5 cents to 4.0 cents.
Net cash outflows from its Australian wealth management division totalled nearly $4 billion dollars, compared to $931 million in the prior financial year.
AMP said the exodus was due to "the reputational impact of the royal commission" and financial advisors focusing on keeping existing customers rather than bringing in new business.
Superannuation member contributions were down but the company said it retained the majority of its employer super plans.
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j.ballantyne1990-6AQqhLzZaK

AMP sees $4 billion withdrawn from its wealth management

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An AMP planner ran a secret property advocacy business while advising clients to source investment properties from his firm, the banking royal commission has been told.
AMP planner Adam Palmer advised several of his clients to set up self managed super funds to buy investment properties through Property Saint of which he owned 60 per cent.
AMP had hired Palmer in May 2013 despite knowing Palmer had been found to have given poor advice previously.
AMP was also told ahead of Mr Palmer’s employment that the planner had been found by Financial Ombudsman Service in 2009 to have provided inappropriate advice to a client by recommending they invest in Basis Capital.
Basis Capital’s high risk Basis Yield hedge fund collapsed in 2008.
AMP did not conduct an audit of his advice until July 2014 when it was revealed he had at least 10 clients not told of his conflict of interest involving Property Saint.
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<div id="google_ads_iframe_/21671780509/theage/business/bankingandfinance/bankingroyalcommission_3__container__">AMP was yet to notify Mr Palmer's clients, the royal commission heard.</div>
<div> </div>
<div>Property Saint is a Licensed Real Estate Agency that specialises in buying the right property for our clients and property management.</div>
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Property Saint has industry expertise and great customer service. Its real estate sales are facilitated with a Vendor Advocacy service delivering "excellent results."
Established in 2013, Property Saint claimed its provided "an easy solution for clients to buy property for investments and for primary residence." 
</div>
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AMP head of advice compliance Sarah Britt told the royal commission AMP would start reviewing Mr Palmer's client files.
"Ideally we would be compensating them now," Ms Britt said, Fairfax Media reported.
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Senior counsel assisting the commission Rowena Orr, QC, grilled Ms Britt about Mr Palmer's advice to clients.
“Do you accept that Mr Palmer’s conduct was dishonest,” Ms Orr asked Ms Britt.
Ms Britt said: “I accept obviously that it’s a matter of grave concern that the adviser hasn’t disclosed his interest in this property business… I accept that it could be interpreted as dishonest.”
AMP also decided to not tell Mr Palmer's new employer Dover Financial Group of Mr Palmer's breaches. ASIC later conducted a review of Mr Palmer’s files at Dover and found multiple breaches of the Corporations Act.
According to ASIC's register of financial advisers, Mr Palmer remains a planner for Dover.
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AMP planner ran Property Saint property advocacy

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AMP Capital has listed a third interest in its 50 Bridge Street property, which is part of the group's $2 billion Quay Quarter Sydney development at Circular Quay.
AMP Capital has appointed JLL and Macquarie Bank to advise on the sale, Fairfax Media advised.
It is expected 50 Bridge Street will attract capital from domestic and international investor
<img src="https://www.urban.com.au/images/2017/09/27/Screen%20Shot%202017-09-27%20at%2012.02.45%20PM.png" alt="">
The NSW government's planned $200 million upgrade at Circular Quay coincides with the projects by AMP Capital, Lendlease, Mirvac and Wanda at the northern end of the CBD.
AMP Capital confirmed recently to The Australian it will kick off the office component of its $2 billion Quay Quarter Sydney development next January after selling close to $400 million worth of luxury apartments in the broader harbourside precinct it is overhauling.
<img src="https://www.urban.com.au/images/2017/09/27/Screen%20Shot%202017-09-27%20at%2012.02.54%20PM.png" alt="">
The office tower is being started as the financial services group has pre-committed to take about 40 per cent of the office space and inquiry on the project is strong.
“We remain on track to commence development in January next year,” AMP Capital managing director, office and industrial, Luke Briscoe said.
Meanwhile AMP Capital’s Wholesale Office Fund (AWOF) will take a stake in Brookfield’s Wynyard Place development in Sydney, agreeing to acquire a 25 per cent interest in the completed development. 
AMP Capital’s separate account client UniSuper has also committed to a 24.9 per cent interest in the completed development. 
A private real estate fund managed by Brookfield Asset Management (NYSE: BAM) has appointed a local subsidiary of Brookfield Property Partners L.P. (NYSE:BPY) to undertake the development of Wynyard Place, which will be a significant mixed use precinct bounded by George Street, Margaret Street and Carrington Street at Wynyard in Sydney’s central business district. 
Wynyard Place’s centrepiece is a 67,000 sqm, 27-level premium grade commercial tower, which is 45 per cent pre-committed by National Australia Bank (NAB).
The development will also include restoration of the historic Shell House and 285 George Street.
In addition, 3,500 sqm of high-end retail will be created together with a revitalised Wynyard Lane and a major upgrade to Wynyard Station’s George Street entrance connecting to a grand transit hall and public concourse.  
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AMP Capital has listed a third interest in its 50 Bridge Street property

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AMP has announced changes to investor lending saying it was to manage its portfolio responsibly and align with regulatory requirements.
Its variable interest rates for new and existing investment property loans will increase by 35 basis points.
For all new investor property loans, the maximum loan-to-value ratio (LVR) is reducing to 50 percent.
This change applies to all new loans with an investment property as security and includes loans to SMSFs.
The changes to interest rates are effective 23 June 2017 for new customers and from 26 June 2017 for existing customers.
The LVR change is from 21 June for new investment property loans and 1 July for SMSF investor loans. Sally Bruce, Group Executive AMP Bank, said the measures are needed to operate within its regulatory obligations.
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AMP raises rates for property investors

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AMP is reducing its mortgage lending to most non-resident borrowers.
AMP is blaming the tough policy on "changes to the market" without specifying their nature or extent.
"Our standards are continually reviewed with market developments to ensure we remain a prudent and responsible lender. Our criteria for overseas borrowers has recently been reviewed in line with this objective," AMP said in a statement obtained by the Australian Financial Review.
It follows complaints among other major lenders about fraudulent applications and fears of money laundering.
Major banks are believed to have only between 2 and 4 percent of their portfolios with overseas investors.
Under AMP's policy, revealed in confidential documents being circulated to major third party distributors, foreign currencies are split into Tier 1 and Tier 2 categories.
Under the new arrangements, 80 percent of income and expenses derived from a Tier 1 category is acceptable and 50 percent from a tier 2 when assessing a loan application.
Tier 1 category are Canadian dollars, Euros, British sterling, Hong Kong dollars, Japanese yen, New Zealand dollars, Singapore dollars and US dollars.  
Tier 2 is the Chinese yuan. Borrowers seeking a loan with Chinese yuan must also provide a 50 percent deposit. For borrowers with Tier 1 currencies the maximum deposit is 30 percent.
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