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How long do you spend on real estate websites each week? Browsing listings in the name of research is many peoples’ favourite pastime, and understandably so.
However, if you’re using this time to do research online then you need to be wise. It’s fair enough to browse in the name of ‘foyerism’, as <a href="https://twitter.com/krissimmons" target="_blank">@KrisSimmons</a> on Twitter referred to it to me. But if you’re researching your first purchase or, really, any purchase, there must be method to the madness.
There really is a fine line between<a href="/expert-insights/what-is-due-diligence-investment-terms-explained"> due diligence</a> and <a href="/expert-insights/investing/what-is-analysis-paralysis-investment-terms-explained">analysis paralysis</a>.
Womankind magazine calls it ‘mentalistic hedonism’ and the concept of browsing aimlessly through real estate listings comes up twice within the issue.
They ask: “You’ve spent the last hour viewing houses on an online property website, but you’re not looking to buy or rent a house. So what exactly are you doing?”
<img src="/images/2014/11/06/crop-nov-6-one.png" alt="">
Source: Womankind
Their mentalistic hedonism idea suggests that we browse property because we experience pleasure from the idea of buying.
However, while that is most certainly the case for some browsing (such as multi-million dollar penthouses and mansions, or any property outside of your budget), browsing listings websites can present you with a unique opportunity to really get inside the market.
Searching listings without a formal plan to buy is good for numerous reasons. One of these is familiarising yourself with the language of real estate agents when they list property. The other is getting a general understanding what is on the market in which areas.
A reader recently sent me a direct message on Twitter. I was aware that he’d recently missed out on a property at private treaty. We briefly discussed the merits of using buyer’s agents. It seemed that he had a fairly good grasp of the market just from making tentative bids and just being when the selling process was underway.
The first timer who has read all the information and browsed several properties, maybe even heading to a few auctions too, is in a far better position than a person who goes in cold.
What this type of laid back research doesn’t do is provide you solid data you can use to inform your future purchases and knowledge of the movements in the market. Certainly it provides a good base, but some solid comparables are crucial.
If you’re not sure about where you’re ready to buy, consider collecting the data as you go to really maximise all that time spent online.
To take things further, you need a system.
Someone else told me that they’d been collecting auction figures in a spreadsheet every week, with plans to use it to assist them buy in the future. Property Observer publishes links to APM's list of Sydney, Melbourne, Brisbane and Adelaide auction results every Monday morning.
I am of the opinion that it is possible to buy well and pay the right amount without hiring a professional. I also believe that it’s possible to do very badly indeed without an expert on your side, if you scrimp on valuable research.
It can be a time consuming process that, when considering your own personal cost per hour, may actually be a false economy to take into your own hands. If you’re also not that confident in your own abilities, or perhaps you’re just not really wired that way, it may be time to seek out an expert.
If you are not interested in making a really significant effort to research, let’s face it a lot of us are very time poor, then it might be worth engaging a professional or laying down some money for reports and details that would take you too long to compile yourself.
Article continues on the next page. Please click below.
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Later in the same edition of the magazine mentioned on the previous page, Womankind presents another interesting discussion around the same topic.
They explain the ‘nesting’ aspect of interior design and renovation, but does not mention the financial aspect. It is many home owners’ dream to “do up” their property, but it’s also often the dream to add some value to it in the process. Rare is the home owner who doesn’t think about the added financial possibilities of a home extension or renovation.
Many property owners and first home buyers think their property, or the one they are looking at, is worth more than it probably is. We’re all guilty of it.
The internal dialogue goes a little like this:
“Well, I bought it in 2010 for $420,000 and that was a good price for the time. Since then I’ve spent $40,000 in renovations and improvements, and the market has moved now so it’s probably worth at minimum $600,000.”
The reality can be far different. And sometimes those $40,000 of renovations do not factor in at all. This is where objectivity, and your collected statistics, can come in handy. Become an evidence-based property investor or first home purchaser that buys based on solid, proven data.
One strategy that has stuck with me is to do the following:
<ol>
<li>Open a document in Excel and label it with the suburb you are looking at. 
</li>
<li>Each row down the left hand side can be the address of a property. 
</li>
<li>In the first column next to the address, include the ‘asking price’. In the next column, write ‘sold price’ and ‘sold date’. You can leave the sold price and date blank until you find out. 
</li>
<li>In the column headings after, write points of comparison such as “number of rooms”, “square metres”, “pool” and other features. I’ve heard of some people saving corresponding files with the pictures from the listing as well. The more details, the more easily you can compare later.</li>
</ol>
After you’ve collected these details, when you see a property come onto the market you can quickly look for where it sits in your spreadsheet. Is it a four bedroom house on 900 square metres with a pool? You might just have the recent sale price of a nearby home that matches (or can be a starting guide).
Here's a <a href="/expert-insights/understanding-comparable-sales-an-introduction">quick intro to understanding comparable properties</a> that will help you fill in your spreadsheet.
This is just one of many ways that people collect the necessary information. Some people plot recent sales and prices on Google Maps so they could get an idea of which areas are pricier. Some people just write down the details, or give the property their own ranking as well, and keep them in a folder.
For first home buyers, having a collected pile of comparable sales can quickly alert you to when a home owner wants more than is viable for you to pay. It may also protect you from <a href="/news/real-estate-agents-presenting-inappropriate-comparables">real estate agents presenting inappropriate comparables</a>. Obtaining this information is of paramount importance.
If collecting this evidence comes with a bit of gazing at glorious Sydney harbourfronts with infinity edged pools and Tasmanian converted churches, well, so be it!
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jduke-EHk3XBmHkn

Making the most of property procrastination: Letter from the editor

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Moranbah is a story of risk and return.
In Queensland’s Isaac region, Moranbah is about two hours inland, south-west, from Mackay.
Sitting between Townsville and Rockhampton, Isaac Regional Council describes Moranbah as one of the youngest towns in Queensland.
<img src="/images/2014/11/06/mornabah%20nov%206%20one.jpg" alt="">
Source: Isaac Regional Council
This town isn’t just fuelled by mining - it was actually created specifically for mining, built by the Utah Development Company in the 1970s. In fact, it’s the indicative go-to example for property investors trying to explain risk and the fast cycles of atypical mining towns, particularly those reliant on coal.
It now has a hospital, medical centres, dental facilities, day care centres, primary schools, sporting clubs, a high school and shops.
But many residents have now moved out, taking advantage of the rising market and selling their long-time homes for high prices to yield-hungry investors.
The Centre for the Government of Queensland notes that at the 2006 census the population was 7,133.
“Moranbah's population increase reflects the frantic upswing in coal mining. At the 2011 census coal-mining accounted for 39.4% of Moranbah's working population,” their research explains.
The Goonyella and Peak Downs coal mines have been operated by BHP since 2001.
The fast uptick of population, demand for workers and a small localised property market quickly led to rental yields nearing 20% in 2012 - a staggering figure, given that Sydney investors often consider rental yields to be desirable when higher than 6% or 7%.
However, in 2012, Westpac labelled Moranbah as one of a number of ‘unsustainable’ one-industry townships.
Currently, SQM Research puts the gross implied rental yield for houses and units in the area at sub-8%. Their vacancy rate statistic is at 6.4% for Moranbah. In 2011 it was sub-1%.
What happened?
A <a href="/news/qld/moranbah-and-port-hedland-unsustainable-single-industry-mining-boom-hotspots-westpac">rental freeze hit the market in 2012</a>, mainly driven by the rise of fly in, fly out (FIFO) workers.
Moranbah airport passenger numbers:
<img src="/images/2014/11/06/mornabah%20nov%206%20two.jpg" alt="">
Source: Crawford Property Group
Recently, there has been a call for the working mining population to become 100% FIFO, stopping many tenants from driving in and out from other local mining areas that are also popular for investors.. This would destroy the requirement for high priced rentals in surrounding area, also often owned by investors, altogether. The proposals also included the suggestion of larger worker camps, that would also take the pressure off of rents in the area.
Unsurprisingly, <a href="/news/100-fifo-concept-slammed-by-moranbah-investors">investors came out in force against the concept</a> with petitions against 100% FIFO.
Terry Ryder, founder of hotspotting.com.au, said earlier this year that the use of FIFO workers removes pressure on local rents and prices.
“There are all kinds of negative impacts of this – and this is what a recent federal inquiry looked at – but rising rents and prices is not among them,” he said.
“The BMA (BHP-Mitsubishi Alliance) plan to have 100% FIFO workers on two new mines in the basin has all kinds of impacts on towns like Moranbah, but they don’t include pushing up property prices because none of the FIFO people live in the town.
“Moranbah rents and prices are falling right now, with residential vacancies up around 7%. In nearby Dysart, vacancies are approaching 15% and rental yields, previously above 10%, are now down around 5%.”
The 100% FIFO debate for Moranbah is still playing out, and will be closely watched by investors.
In October, the Daily Mercury reported that opposition Leader Annastacia Palaszczuk said in parliament that 100% FIFO practices are "discriminatory". Mining Australia has also reported claims that a 100% FIFO workforce would “kill” the town.
Article continues on the next page. Please click below.
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Despite the downturn, last year Moranbah was back on the hotspot radar once again. Issue 10 of the Positive Property Report, from Crawford Property Group, was calling it a “new boom” for the "boom town".
The report said that it is “supercharged” by its proximity to the largest number of active coal mines in the country, and “poised for the biggest property boom in its history, with $15 billion in infrastructure projects planned … within a 60 kilometre radius of the township.”
It notes that rents increased 91% over the year to the 2013 report, with values climbing 34%.
Calling it one of the leading FIFO townships in Australia, the report notes that the forecast population is expecting an increase of 47% by 2018 with 265 dwellings needed each and every year over the five years to 2018.
Ryan Crawford told Property Observer in 2013 that <a href="/news/rebounding-regional-areas-identified-karratha-derby-and-moranbah">once it goes through its low period, it will repeat its historical growth patterns</a>.
<blockquote>
Despite the downturn, last year it was back on the hotspot radar once again.
</blockquote>
But Ryder, in 2013, said that while he expected it to revive, he thought it would <a href="/expert-insights/investing/mining-town-moranbah-will-revive-but-may-never-return-to-dizzy-heights-terry-ryder">never again reach the dizzying heights seen over the past few years</a>.
It seems there’s potential if some of these issues play out in investors’ favour.
Recently though, pain has most certainly been felt in this market.
Property Observer looked at all 25 sales recorded on RP Data for Moranbah in the six months from May 2014 to October 2014. Eight of these had no pre-purchase records or were development block sales.
Of the remaining 17, 10 made losses.
Here are the losses that were made for 10 individual properties (from highest to lowest), and how long they were held for:
<ul>
<li>$528,000 (held for less than two years) 
</li>
<li>$336,200 (held for three years) 
</li>
<li>$320,000 (held for two and a half years) 
</li>
<li>$215,000 (held for six years) 
</li>
<li>$170,000 (held for more than five years) 
</li>
<li>$155,000 (held for 11 years) 
</li>
<li>$154,900 (held for six years) 
</li>
<li>$105,000 (held for six years) 
</li>
<li>$30,000 (held for 10 years) 
</li>
<li>$11,000 (held for almost 10 years)</li>
</ul>
In total, the losses came to $2,025,100 for these property owners, or an average loss of $202,510 for those that fell on this list of 10.
Two transacted for their same selling price (both just a few months after purchase). Five transactions did record gains.
These were the gains (from highest to lowest):
<ul>
<li>$198,979 (held for 18 years) 
</li>
<li>$179,000 (held for 6 months) 
</li>
<li>$120,000 (held for 5 years) 
</li>
<li>$118,500 (held for 10 years) 
</li>
<li>$100,000 (held for three months)</li>
</ul>
In total, these gains add up to $716,479.
Looking at all 17 transactions on this list, the average loss comes to somewhere around $75,000 with a median loss of $30,000.
In Moranbah, even holding the property for a long period of time doesn’t guarantee a success, although it does seem to reduce some of the effects of a downward spiral.
Below are the changes in RP Data's median house price in Moranbah:
<img src="/images/2014/11/06/mornabah%20nov%206%20three.jpg" alt="">
The current median house price is $351,000, at the peak it was $745,000.
When searching through listings portals, property is available anywhere from $900,000 to $95,000 in the town.
Property Observer looked at Moranbah the same time last year revealing that the<a href="/news/suburb-spotlight-moranbah-mining-bust-felt-heavily"> bust has been felt heavily</a>. It seems the same still applies, with many issues still yet to wash through the market.
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Moranbah: The classic example of mining town risk v return

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There has been fierce debate around commercial licensing recently. The Real Estate Institute of Victoria's (REIV) Enzo Raimondo is particularly against the recent changes.
Here's a Q&amp;A with Raimondo explainging why they oppose the gazetted regulatory changes.
What are the changes to commercial licensing?
The Victorian government has gazetted a regulatory change which enables anyone involved in the sale of real estate other than residential or rural land, will be exempt from the licensing requirements of the Estate Agents Act where,
<ul>
<li>The price in the contract of sale is at least $15 million or the property has a total gross floor space of at least 10,000 square metres.</li>
<li>Each party to the sale purchase or exchange of real estate owns other real estate with a total value of at least $15 million or a total floor space of at least 10,000 square metres.</li>
</ul>
Anyone involved in the leasing of real estate other than residential property or rural land, will be exempt from the licensing requirements of the act if the person or company for whom the person is acting owns property with a total of at least $15 million or a total floor space of at least 10,000 square metres.
It should be noted that the ALP, on Monday announced that it will review these changes if elected in Victoria at the upcoming state election on 29 November.
How does the REIV believe this will affect the industry and consumers?
It will create a two-tiered system where some agents will be licensed (for sales and leasing transactions below the threshold) and others won’t be licensed.
This will open the industry up to unqualified and inexperienced operators - and potentially criminals - because there will be no probity checks, and the operators will not be required to maintain an audited trust account or comply with the requirements of the estate agents act.
This will lead to a high level of financial risk to vendors, purchasers, landlords and tenants and means that thousand s of small businesses in Victoria will lose the inherent safeguards provided by the estate agents act.
This will hurt small business tenant in Victoria and may lead to increased rents, prices and put thousands of jobs at risk.  
What will the REIV be doing to stop the changes?
The REIV continues to lobby both sides of government in regard to the changes, and is running a public campaign leading up the state election (and beyond).
Are there any other changes to commercial licensing that should be implemented?
There is already an exemption in place for large commercial transactions between related parties, which the REIV believes is sufficient to meet the needs of a wide variety of stakeholders involved in these transactions. For this reason there is no need for the changes that have been proposed.
They represent deregulation of the commercial and industrial estate agency practice, yet are being promoted as red tape reduction.  
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Victoria's proposed commercial licensing changes: Q&A with the REIV's Enzo Raimondo

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There was a record $533 million of metropolitan Brisbane office transactions in the first half of this year, according to Colliers International.
Colliers’ Competitive Rivalry: Office Versus Residential in Metro Markets report found foreign investors re-emerging over the first half of the year and acquiring $254 million worth of assets.
For instance, Southpoint was purchased for $200.6 million by Union Investment Real Estate.
There were a total of 11 sales during the period, with two foreign companies acquiring the biggest assets, explained director of capital markets for Colliers, Jason Lynch.
“Domestic buyer groups comprised REITS and unlisted institutions which bought up $205 million worth of metro office assets, with the remainder being private investors and property groups,” Lynch said.
“In the last three months there has been an increased amount of Asian investor interest looking to reweight their capital into our CBD and metro markets. A Grade assets, particularly those with long lease terms and good quality tenants are highly sought after.”
But he notes that the issue facing investors at present is a lack of supply.
“The feasibility of developing new large office developments is diminishing due to increasing land values driven primarily by the improved residential apartment market and the CBD’s competitive position with respect to rents and incentives,” he said.
Despite this, forecasts are steady for the Brisbane market.
<img src="/images/2014/11/05/chart%20nov%205%20one.jpg" alt="">
Source: Colliers International
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Brisbane metro office market heating up: Colliers International

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Poor infrastructure provisioning is holding back Western Australia's growth, according to a new report from the Property Council of Australia (PCA).
The report, Mind the Gap: The Costs of WA’s Infrastructure Provisioning Framework, found that public investment in the state’s infrastructure was an average of 1.5% of gross state product (GSP), below the international norm of 3.8%. This leaves a $59.2 billion shortfall, according to the report.
“This research demonstrates that WA needs an independent infrastructure body that takes responsibility for its planning, prioritisation and delivery,” said PCA’s executive director Joe Lenzo.
“Poor infrastructure provisioning adds unnecessary risk to projects, making it difficult to secure debt financing and attract capital.”
Lenzo said that about 10% of property development projects are delayed due to poor infrastructure provisions, which add risk to the development projects.
He said that if the state is to meet global benchmarks, $22.1 billion in infrastructure expenditure per annum is necessary.
“Business-as-usual is not an option if we want to provide the infrastructure necessary to support WA’s growth,” he said.
“Implementing a strong infrastructure provisioning process will ensure that scarce infrastructure dollars are directed where they are most needed and where the best value for money can be realised.”
 
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Poor infrastructure holding WA property development back: Property Council of Australia

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There are few words in the property investing lexicon that evoke as much emotion as the term “mining town”.
Known for their fast-moving property markets that are at the mercy of resources industries, it’s not surprising that many cautious investors steer clear. However, that’s not to say that numerous investors do not buy in, with promises of double digit yields and capital growth that tops hotspot lists an obvious lure.
In fact, they often come in droves.
SQM Research’s managing director Louis Christopher recently undertook an update on the resources towns.
His predictions in the company's 2013 Housing Boom and Bust report were that the hard commodity towns – those usually solely underpinned by resources – were truly in a downturn, while ‘soft’ commodity towns with other drivers, such as resources, have had more positive results.
Christopher's update revealed price drops of up to 40% in some areas and vacancy rates spanning up to 14% in others; a situation he referred to as "bloodshed".
Port Hedland fared the worst, with a 40% price drop, from $1,500,000 to $900,000. In 2002 the median price for Port Hedland was sub $200,000, showing just how far this market has come.
In 2012, Property Observer reported on an upcoming downturn, or at least a sense of caution, for several risky mining hotspots. This was based on a Westpac report, which had flagged a number of Queensland and Western Australian localities as ‘high risk’ due to their single industry basis. Port Hedland was on this list.
The <a href="/news/qld/moranbah-and-port-hedland-unsustainable-single-industry-mining-boom-hotspots-westpac">suburbs they had placed on the list were</a>:
• Blackwater (4714)
• Moranbah (4744)
• Dysart (4745)
• Middlemount and May Downs in the Isaac region (4746)
And in Western Australia:
• Roebourne (including Karratha, Baynton, Bulgarra and Pegs Creek, 6714)
• Port Hedland (including South Hedland, 6721)
• East Pilbara (6753)
More recently, NAB dropped their maximum loan to value ratio (LVR) for home buyers and investors in Mackay and Emerald, according to The Rockhampton Morning Bulletin. Investors have seen their potential LVR dive to 80% from 95%, while home buyers will face 90% instead of 95% LVRs.
Looking back towards Port Hedland, it’s not all bad news, writes Christopher.
While rents also took a dive – from a brief $3,200 peak to $1,550 at present – the vacancy rates are stabilising at 6% and listings dropping, according to SQM Research.
“So, there has been bloodshed in Port Hedland, but perhaps some signals from our leading indicators that the worst of it might be over,” said Christopher.
<img src="/images/2014/11/05/rents%20nov%205%20one.jpg" alt="">
Source: Residex
All in a few year’s work for a mining town hotspot. This sort of rapid-cycle behaviour is not just limited to Port Hedland– single-driver mining town risks do not discriminate based on location.
Article continues on the next page. Please click below. 
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Western Australia’s Muswellbrook is also on Christopher’s radar.
With cancelled expansion projects – no doubt painful for speculators – listings seem to be “taking a beating”, he said. Vacancies are improving, however, now back to 9% from 14%.
“That still is a very, very high number but it is the relative movement that is just as important as the absolute number,” Christopher said.
“Rents of course, have been pulverised but there is a hint at the very end of the chart of a possible bottoming out.”
In South Australia things are looking a little more positive.
The much-discussed Olympic Dam is now at 3% vacancies, down from 10% previously, and rents are showing signs of recovery.
But rental yields are a paltry 4%, something that Christopher says is not justifiable given the risks of investing in a mining town.
At the height of its boom, according to the “home of positive cashflow property”, Realestateinfo.com.au, Port Hedland was offering yields of 9.5% as of September 2013, during a time when a downturn was in the offing. The Pilbara, meanwhile, topped the list – offering 14% yields (albeit only from 18 rental observations).
It is common sense that people buy in high risk locations for high returns – otherwise they’d purchase elsewhere with much more peace of mind.
The soft commodity markets Christopher looks at includes Orange, which was suffering in September 2013, but now the rental market is tightening.
When considering all the data, he’s not so sure about whether he’d invest in these areas.
“While our charts might be pointing to a possible bottoming in the market for some of these townships I believe it is very early days indeed and it could be just as likely there is another leg down before the real bottom finally arrives. I don’t know about you but I find the thought of renting a standard house in Karratha at $900 a week (as a tenant), very unappealing even while the same house was once renting at $2,100 a week,” he wrote.
When government planning documents,<a href="https://www.planning.wa.gov.au/dop_pub_pdf/port_hedland_combined_report.pdf" target="_blank"> like this one from Port Hedland in April 2011</a>, suggest that by the time many yield-hungry investors were buying in, it was already well established that the area had an issue with housing supply and rents.
The government was already looking at what needed to be done to take control, as well as possible land releases, across the Pilbara.
The distress that recent rising vacancies and rental yield drops are causing property investors is something that observer Terry Ryder hears about regularly.
<a href="/expert-insights/investing-in-a-mining-town-requires-a-long-term-view">He specifically mentions</a> a number of suburbs afflicted with these two softening indicators: New South Wales’ Muswellbrook, Mudgee and the Hunter Valley, Queensland’s Mackay, Emerald, Bowen, Gladstone, Moranbah and Chinchilla, and Western Australia’s Newman, Singleton, Port Hedland and Karratha.
Faced by what Ryder calls the ‘double-whammy’ of resources related demand dropping as developer interest increases, he urges that <a href="/expert-insights/investing-in-a-mining-town-requires-a-long-term-view">a long-term outlook is critical for any investor considering a mining town</a>.
“Many of the locations mentioned earlier will do well in the future. The resources sector is highly cyclical and the good times will return. Headline-grabbing one-liners like “the mining boom is over” are both silly and short-sighted. Australia has a very big future as a provider of key resources to growth economies, especially in Asia,” he wrote.
Ryder says that he hasn’t bought in mining centres as he knows he wouldn’t sleep too well.
Of course, those that bought into the Port Hedlands of Australia and sold out at the height of the boom could have made significant profits, while achieving strong yields. If no one ever made money in those areas then no one would buy in. On the flipside, those that didn’t time it so well may have faced bankruptcy.
Sometimes the higher you climb, the harder you may fall.
Photo of Port Hedland courtesy of Robyn Jay/<a href="https://creativecommons.org/licenses/by-sa/2.0/" target="_blank">C.C. BY 2.0</a>
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From hotspot to bloodbath: Property investment in Australia's mining towns

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Sunland Group’s Brisbane CBD development is one of the fastest selling in the city, offering 147 apartments, villas and penthouses across 40 levels.
The <a href="https://sunlandgroup.com.au/abian-apartments/%20" target="_blank">Abian Botanic Gardens development</a>, marketed as a “new inner dress circle” location, overlooks the botanic gardens and offers large, prestige residences.
Three bedroom plus study apartments, across 160 square metres, are priced from $1,395,000, while three bedroom plus media rooms, cost upwards of $2,605,000. Four bedroom plus study and media room apartments are north of $3,330,000
Residents' facilities include a concierge, executive lounge, swimming pool, spa, gym and steam room. Each apartment is expected to be visually striking with 2.7 metre high ceilings and floor to ceiling glass windows. The outside façade will be curved, with the design from Wood Marsh Architects.
Despite the high selling point, they’re in demand.
"Abian was ranked the fastest selling apartment project in Brisbane during the first quarter of 2014,” Colliers International’s marketing campaign claims.
Construction has begun in June this year, with completion expected for mid-2017.
It has already attracted big name residents, with celebrity chef Matt Moran spending close to $1 million in May this year. He purchased a two bedroom, two bathroom lowrise apartment, <a href="/news/chef-matt-moran-buys-in-owner-occupier-abian-brisbane-apartment-block">as reported by Title Tattle</a>.
Earlier this year Property Observer named Abian as <a href="/news/qld/five-strong-queensland-markets-and-the-developments-driving-them">one of the developments driving Brisbane City</a>, with 108 apartments sold in the first quarter of 2014, according to Urbis.
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Abian Botanic Gardens, one of Brisbane’s fastest selling developments

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Melbourne’s strong recent growth means that more modest increases should be expected going forward, according to Opteon Victoria’s head of residential Stuart Bridgeman.
With slowing household income growth, cost of living pressures and housing affordability concerns, he expects subtler increases over the coming months.
However, Bridgeman notes that there are still areas with strong demand – which could be good news for those looking to sell up their property in these locations.
“General demand in the market has been increasing from late 2013 up until now and we would expect this to continue, albeit at a slower rate, than previous years,” he said.
“As we see stronger and weaker pockets form throughout Victoria, it is important for investors and those looking to sell to remember that any growth in value is dictated by supply and demand and this will vary between suburbs and even precincts within suburbs.”
What is in demand:
<ul>
<li>High quality, well-renovated properties in prime positions</li>
<li>Older, character-style housing (still attracting a premium from buyers)</li>
<li>The middle and outer, eastern Melbourne suburbs are seeing significant demand</li>
<li>Properties located in popular school zones</li>
<li>Outside of the CBD, infill developments and new townhouses are proving popular with first home buyers. This is largely in the Western and Northern growth corridors</li>
</ul>
Weaker demand seen for:
<ul>
<li>Inner city high-rise apartments in the CBD and nearby locations (an oversupply could continue on for the next few years)</li>
<li>Melbourne’s outer south-east</li>
</ul>
“While many highrise apartments are being acquired by overseas purchasers and SMSF investors, we could see these numbers drop-off as the economy weakens and proposed changes to overseas investment are implemented,” Bridgeman said.
“In-fill developments are proving particularly attractive for first home buyers,  especially developments that are made up of three to six townhouse style properties.”
However, he warns new home buyers to ensure they know exactly what they’re buying. While the stock can appear to be good, small room sizes can be dysfunctional.
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What Victorian buyers want: The in-demand property types

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Today’s Reserve Bank meeting, on Melbourne Cup day, revealed no surprises as the Bank opted to keep rates at a record low 2.5%.
With rates on hold, the question on everyone’s lips now is ‘for how long?’
RP Data’s research director Tim Lawless said that the Reserve Bank is more concerned with the level of investment in housing, rather than the pace of capital gains.
“In fact, the rolling annual change in capital city dwelling values has been moderating since April this year, suggesting that some heat is coming out of the market,” he said.
“Rather than pushing interest rates higher, which would have a detrimental effect on many aspects of the economy, it is looking more likely that APRA and the RBA will aim to cool investor demand by tweaking the risk appetite for bank lending to investors.”
He’s expecting that interest rates will track low until “well into 2015” and that dwelling values will continue to increase.
However, he did not that each city is showing different trends. Notably, Perth and Canberra are “already well through the peak of their cycles,” according to Lawless.
ME Bank's general manager markets John Caelli was also expecting rates to remain on hold.
“With inflation still well behaved and the dollar still higher than the RBA would like, the Bank can afford to wait until there is more clarity on global movements and developments in China,” he said. “The next cash rate change will likely be upwards and occur in the second quarter of 2015.”
LJ Hooker chief executive offer, Grant Herrod, however thought that the stable rates today will cause encouraged sellers to list their properties before the inevitable Christmas slowdown.
“Spring brings with it a seasonal lift in listings, but that lift was a bit delayed this year,” Harrod said.
He said people wanted to buy their new property before listing their old one because of competition.
“The increase in stock levels we’ve seen over the past month combined with the continued historic low cash-rate should motivate those who have been sitting back waiting to take action over the next two to three weeks,” Harrod said.
Finder.com.au’s money expert, Michelle Hutchison, said that borrowers with a variable rate home loan are now celebrating the cash rate pause as they won’t be paying more before Christmas. If a change is made next month, which is unexpected, it won’t filter through until January.
"All 33 experts in Australia’s biggest Reserve Bank Survey by finder.com.au bet the cash rate would hold today, with an average of all forecasts suggesting a rate rise in August 2015,” Hutchison said.
“The odds were stacked against mortgage holders today, with cash rate changes announced on six of the past 10 Melbourne Cup day Reserve Bank meetings.”
She said that interest rates look set to rise “soon” but that fixed home loans at good rates are available.
“For instance, we have seen 58 fixed home loans from six lenders fall in the past month alone, by as much as 0.61%. The average three-year fixed rate – which is the most popular fixed term – has dropped slightly from 5.04% at the start of October to 5.00% now. One-year fixed rates have also fallen from 4.85% to 4.81% in the same period,” she said.
Photo courtesy of Newtown grafitti/<a href="https://creativecommons.org/licenses/by/2.0/" target="_blank">Creative Commons</a>.
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RBA keeps rates on hold, but for how long?

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Only 15% of 35 to 49 year olds are prioritising long-term savings, while property debt is the dominant priority for this age group, according to a new survey by REST Industry Super.
REST Industry Super’s latest whitepaper, What’s Next, surveyed 1,000 Australians aged between 35 to 49 year on the state of their financial health.
Of the respondents, 71% are paying off a mortgage, which is their main financial aim. Long-term savings are the fourth highest priority, after paying off debt and short-term savings.  Short-term savings, including holidays and education costs, was the top priority for those without mortgages.
<img src="/images/2014/11/04/rest%20nov%205%20one.jpg" alt="">
REST CEO Damian Hill said that it’s encouraging to see this group take control of their immediate finances, including getting their mortgage under control. However, he said that it seems to be to the detriment of planning for the future.
“We know that relying solely on employer super contributions is unlikely to support the kind of lifestyle most Australians want in retirement, so it’s important to prioritise saving for post-work life as well,” Hill said.
“This is even more the case since the recent government announcement to delay the increase in the superannuation guarantee contribution rate to 12% until 2025.”
The 8% of respondents who owned their home outright prioritised retirement as their most important goal.
“Focusing on paying off the house means that over half (51%) of Australians are relying solely on the compulsory super system to save for their retirement – at the very stage of life when they are likely to be in the best position to make additional contributions on top of what their employer is paying,” Hill said.
“Planning for retirement doesn’t mean your mortgage has to suffer, but it is important to balance your financial priorities to ensure long-term savings aren’t being forgotten in the face of more immediate needs.”
However, some 6% of the respondents were saving for property in different ways. Of this small portion, some were using property investments, including their home, as a retirement plan.
Approximately 21% said that they would downsize their home on retirement to use the funds, while more than 35% pointed to investment properties as their plan, narrowly more popular than those investing in shares outside their superannuation.
Property debt a financial priority of middle aged Australians: REST Super
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Property debt a financial priority of middle aged Australians: REST Super

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

Joel Robinson

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

&nbsp;

Developer GURNER™ Group has revealed $1.65 billion in residential sales nationally across the 12 months to December 2025, driven largely by the continued momentum of its Docklands wellness-focused precinct, Elysium Fields.

The sales result was generated across seven projects in Victoria and New South Wales, headlined by Elysium Fields, GURNER™’s $2.75 billion mixed-use precinct planned for Harbour Esplanade in Docklands.

The project has recorded more than $500 million in sales across the first three towers, equating to around 580 apartments sold.

The first tower, Helios, has now sold out of its 240 private residences, with GURNER™ preparing to release a premium penthouse collection comprising 15 three-bedroom penthouses in coming weeks.

[smartcode_project:default project_id=144441 project_image_fid=370975]

Elysium Fields is being developed on the long-held 20,000 sqm Docklands site at 208-226 Harbour Esplanade, which had remained undeveloped for more than two decades prior to GURNER™ taking over the project around four years ago.

Construction has now commenced across four towers ranging between 18 and 30 storeys, with Hamilton Marino and Maxcon appointed as builders.

Once complete, the precinct is expected to comprise around 1,100 residences, alongside retail, hospitality and public realm uses integrated throughout the site.

[smartcode_project:default project_id=144441 project_image_fid=370981]

Designed by Fraser &amp; Partners in collaboration with GURNER™ Design House, the project has been positioned around the developer’s broader focus on wellness-led residential living.

“We don’t sell apartments. We create a true luxury lifestyle that simply doesn’t exist elsewhere in the market today,” Founder and Executive Chairman Tim Gurner said.

“To deliver that requires an extraordinary level of detail, coordination and discipline across multiple verticals, from design and hospitality through to wellness and service.”

“We’ve always believed that living extends far beyond the physical residence. It’s about how you feel the moment you arrive, how you live day-to-day, and the ecosystem that supports that.” 
[smartcode_project:default project_id=144441 project_image_fid=370977]

The project’s design places a heavy focus on landscaping, wellness amenities and biophilic design principles.

Plans include around 3,700 sqm of landscaped gardens and open space throughout the precinct, alongside a retail and dining offering spanning approximately 5,000 sqm.

The broader public realm strategy centres around what GURNER™ describes as the “Path of Life”, an urban forest and landscaped pedestrian environment intended to connect the various buildings and wellness spaces across the precinct.

The apartments themselves will incorporate a range of wellness-focused inclusions, including purified air and water systems, circadian lighting, antimicrobial surfaces, and optional in-home wellness upgrades.

[smartcode_project:default project_id=144441 project_image_fid=370980]

Gurner said the company’s experience through its Saint Haven wellness clubs had directly informed the residential offering now being incorporated into Elysium Fields.

“We’re seeing a clear global shift toward longevity, performance and proactive health,” Gurner said.

“Our role is to deliver that in a way that feels seamless, highly private and beautifully resolved within the environments we create.”

A large component of the wellness offering is planned through the resident amenity and health facilities proposed within the precinct.

That includes plans for bathing and recovery facilities spread throughout the towers, incorporating mineral pools, saunas, steam rooms, flotation therapy, red light therapy and wellness lounges.

The developer is also seeking approvals for what it describes as a “reverse ageing medical clinic” within the precinct.

[smartcode_project:default project_id=144441 project_image_fid=370978]

According to project information released by the group, the proposed facility would include cryotherapy, IV infusion therapy, infrared and dry saunas, PEMF beds, MRIs, DEXA scans, brain scans and blood analysis services.

Within the first tower, Helios, residents will also have access to a dedicated amenity offering known as the Sky Private Club.

The upper 15 levels of the building will include private lounges, dining spaces, rooftop amenities and optional private wellness studios integrated within residences.

The Helios tower itself comprises 260 apartments ranging between 60 sqm and 300 sqm, including a collection of penthouses.

That includes a planned two-storey penthouse spanning around 600 sqm with uninterrupted bay views.

The Elysium Fields precinct is being delivered in partnership with Digital Harbour Holdings, a consortium that includes the Liberman family, which controls the development rights across the Docklands site.

[smartcode_project:default project_id=144441 project_image_fid=370979]

The sales result comes as GURNER™ continues expanding its national development pipeline beyond Victoria.

“We have a strong pipeline across Australia and are now focused on scaling into key markets including New South Wales and Queensland, while continuing to build on our Melbourne base,” Gurner said.

“We currently have more than $3 billion in the market, growing to over $5 billion by October, and expect to materially outperform last year in the 2026 calendar year.”

The result also reflects the continued strength of the upper-end apartment market in Melbourne, particularly for owner-occupier-focused product with large-scale amenity and lifestyle offerings.

[smartcode_project_cta:default project_id=144441]

Record result anchored by the Group’s “utopian” Elysium Fields precinct – defying market headwinds in Docklands.

Elysium Fields drive Gurner to $1.65 billion in apartment sales over 2025

National Australia Bank (NAB) will fund <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera</a>, a $1 billion, 52-level luxury residential tower being developed by Central Equity in one of the Gold Coast’s most tightly held coastal locations at Northcliffe.

The project, launched recently by <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a>, one of Victoria’s largest private residential developers, comes at a time when construction funding for large residential developments has become increasingly competitive as lenders tighten exposure to the sector.

Multiplex has been appointed the builder, and construction is now underway.

[smartcode_project:default project_id=108274 project_image_fid=365784]

Since its first project, Central Equity has delivered more than 85 residential developments with a combined end value exceeding $8 billion.

Palmera reflects Central Equity’s growing focus on the Gold Coast luxury apartment market and continues a relationship between Central Equity and NAB that dates back to the late 1980s, when the bank funded one of Melbourne’s earliest inner-city residential towers at a time when high-rise apartment living in the CBD was largely unproven.

“NAB’s funding of Central Equity’s $36 million CBD development in the late 1980’s to the financing of the billion-dollar tower today highlights the long-term relationship between the two organisations in delivering major residential projects” said Central Equity Founder and Chairman Eddie Kutner.

He said NAB’s early support was instrumental in helping establish the company’s development model.

“When we commenced our first residential tower in the late 1980s the concept of funding off-the-plan apartments was still largely untested in Australia,” Kutner said.

“NAB recognised the opportunity early and supported the project when others were uncertain. That relationship has now continued for more than 37 years across many developments.”

[smartcode_project:default project_id=108274 project_image_fid=365771]

Central Equity was established in 1987 when Melbourne’s CBD and Southbank precinct were still dominated by warehouses and commercial buildings. Fewer than 100 residents lived in Southbank at the time, and large-scale residential development in the inner city was not widely considered.

Recognising changing demographics and lifestyle preferences, the company began developing high-rise residential projects designed to bring permanent residents into the city centre.

Central Equity has provided accommodation for approximately 40,000 residents across Melbourne’s CBD and Southbank, while also incorporating supporting infrastructure including essential lifestyle facilities like retail spaces, childcare facilities and neighbourhood activity centres.

Central Equity has spent many years assembling the Palmera development site on the corner of Garfield Terrace and Frederick Street in Northcliffe, creating a supersite of around 3,300 sqm.

The developer said the Palmera apartment tower reflects its long-term view of the Gold Coast as a growing and increasingly diversified economy.

[smartcode_project:default project_id=108274 project_image_fid=365768]

Supported by infrastructure including the light rail network, major road upgrades expanded education, hospital and medical facilities and continued expansion at the Gold Coast Airport with more international and domestic flights.

Positioned in the tightly held Northcliffe precinct, the 52-level tower will deliver 347 apartments, targeting buyers seeking a high-end coastal lifestyle, from downsizers to interstate investors.

Designed by Marchese Partners with interiors by DBI, Palmera has been conceived as a next-generation residential offering, featuring a collection of oversized apartments, with premium three-bedroom residences offering sweeping northern views stretching from Surfers Paradise through to Burleigh Heads.

[smartcode_project_cta:default project_id=108274]

NAB funds $1 billion Surfers Paradise apartment development, Palmera

Two years after completing one of the newest developments in North Sydney, developer <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a> is turning its attention to the rapidly evolving St Leonards apartment market.

The developer, which completed AURA by Aqualand on North Sydney's Walker Street, has lodged plans for a 5,918 sqm site at <a href="https://www.apartments.com.au/new-apartments/33-37-herbert-street-st-leonards-nsw-2065">33-37 Herbert Street, St Leonards,</a> seeking approval for a pair of residential towers rising above a shared podium opposite Royal North Shore Hospital.

The proposal forms part of the broader transformation underway across the St Leonards-Crows Nest precinct, where former industrial and commercial sites are increasingly being redeveloped into high-density mixed-use projects tied to major transport infrastructure.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="2cc428cf-fe70-4cac-9cd5-264ad53af62c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.56%E2%80%AFAM.png?VersionId=otKSnHtbjAvAddOnovyXQMgcAwE6DMe1" />

According to the planning documents, the site sits “within the St Leonards–Crows Nest Strategic Centre, identified by the NSW Government as a key area for accommodating future jobs and housing across Sydney.”

The proposal has been designed by fjcstudio, formerly FJMT Studio, and is being progressed through the State Significant Development pathway due to its scale and affordable housing provision.

The scheme would comprise 413 apartments, including 46 affordable housing units, alongside retail and commercial uses fronting Herbert Street. The project would also include communal open space, landscaping, a swimming pool, gymnasium, children’s play areas and podium-level resident amenities.

Planning documents show the development would consist of a part-13, part-39 storey tower form positioned above a four-storey podium.

“The development comprises a unified podium that activates the street interface, and two setback towers to accommodate new housing supply while maintaining an appropriate human scale at ground level,” fjcstudio noted in its Design Report.

The northern and southern towers have been shaped to respond to the surrounding skyline while also limiting overshadowing impacts to nearby public open space, particularly Talus Reserve.

The design report said the differing tower heights were intended to “contribute to a varied skyline while responding to the surrounding built form context and solar access considerations.”

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="36da62dc-ff9e-41f2-a7e3-7be38373751c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.45%E2%80%AFAM_0.png?VersionId=Mo6Rp2r.XRLTzIfg_PEEpw8NepDH8UBs" />

The site sits directly opposite Royal North Shore Hospital and within walking distance of both St Leonards Station and the new Crows Nest Metro station.

While the site itself sits just outside the formal Crows Nest Transport Oriented Development boundary, the planning documents repeatedly reference its alignment with the broader TOD objectives reshaping the Lower North Shore.

“The site is located adjacent to St Leonards Station and in close proximity to Crows Nest Metro which is within the Crows Nest Transit Orientated Development Accelerated Precinct which has been identified by the NSW Government to support housing delivery,” the Design Verification Statement noted.

According to fjcstudio, the project has been designed to respond to the broader transition occurring across St Leonards, where increasing residential density is being concentrated around transport infrastructure and employment hubs.

“The broader precinct is undergoing significant change, with a mix of existing mid-rise buildings and newer high-density developments,” the report stated.

“Recent and approved projects indicate a consistent shift toward taller built form, typically organised as tower-and-podium typologies with more active ground levels.”

The proposal includes close to 6,000 sqm of retail and commercial space across the ground floor and podium levels, designed to create a more activated street edge along Herbert Street.

Aqualand’s plans would also introduce a landscaped podium shared between the two towers, with communal open space in the form of a podium rooftop designed to support resident interaction and improve urban greening outcomes. The scheme would also introduce pocket parks at the northern and southern ends of the site, including a landscaped area at the corner of Herbert and Ella streets designed to improve pedestrian amenity and soften the streetscape.

&nbsp;

The proposal is being progressed through the NSW Government’s Housing Delivery Authority pathway, which was introduced to accelerate housing supply across the state. The application was declared State Significant Development in April 2025 following an expression of interest process.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="faf6d97d-2671-454f-b85a-fe1c6a7be608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.49%E2%80%AFAM.png?VersionId=diVd28OBVr5.YV.7prrOz.uAanwwwm7a" />

St Leonards has been particularly active with new developments in recent weeks. Developer SP Setia’s <a href="https://www.apartments.com.au/news/nsw/first-look-sp-setia-targets-st-leonards-skyline-with-40-storey-tod-tower">plans for a new 42-storey tower</a> recently went on exhibition through the same pathway, while <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">Stockland’s 52-storey tower proposal</a> was also recently unveiled.

Aside from the St Leonards project, which is expected to take around nine months to move through the approvals process ahead of a potential 2027 launch, Aqualand is also preparing to launch Boronia, a new apartment project in Roseville comprising around 111 apartments on Larkin Street.

The developer also has approvals in place for the next stage of the Barangaroo precinct, which will feature new residential, retail, hospitality and community uses, alongside a new metro entry across the five-hectare site.

More than 50 new retail destinations are planned for Central Barangaroo, alongside a 270-metre-long boulevard connecting Hickson Park to Nawi Cove. Together with Harbour Park, more than 50 per cent of the precinct will comprise public open space and parkland.

Jennifer Duke

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