<html><body>
Last year, $51 billion worth of residential property changed hands, according to the Real Estate Institute of Queensland (REIQ).
REIQ chief executive Antonia Mercorella said Queensland's home transaction values peaked at $73 billion in 2007, but that "there's a very encouraging upward trend which is great news for home owners".
2014's result is the highest since 2010.
<img src="/images/2015/03/02/reiq-mar-2-two.jpg" alt="">
Sales volumes are also "clearly heading in the right direction," said Mercorella, with 114,000 transactions recorded last year. The highest ever year for number of transactions is 2003.
"And in another encouraging sign, there's been a significant rise in the number of suburbs where every vendor made a profit on sale," she said.
"In 2014, there were 49 Queensland suburbs where every property sold at a profit, up from just 22 suburbs in 2013."
The majority of suburbs with 100% profit-making sales were in Brisbane, with the eastern suburb of Gumdale having the greatest increase in profit making sales of any Brisbane suburb. There, transactions were up 33% over the year.
"Tara on the Western Darling Downs recorded the biggest increase in profit-making sales anywhere in the State, with an impressive rise of 36%," said Mercorella.
"Other strong performers included Goombungee, north of Toowoomba (up 27% and Caravonica, north of Cairns (up 26%).
"Meanwhile on the Gold Coast, 100% of vendors in Mermaid Beach made a profit on sale in 2014, as the city's prestige real estate market continues to bounce back."
She also noted increased momentum in the prestige $1 million-plus market.
"Around 2,600 properties across 320 suburbs changed hands for more than $1 million in 2014, predominantly in the Southeast," she said. According to the REIQ, properties worth $1 million or more made up the strongest performing segment of the market in the December quarter.
The $1 million-plus price point was Queensland's strongest performer in the December 2014 quarter, with a 17% increase in sales volumes.
</body></html>

jrichardson-uRX5hFdKfN

Queensland home sales reach five year high: REIQ

<html><body>
Two women from the world of property were recognised at yesterday's NAB Women's Agenda Leadership Awards.
Sharon Warburton is the executive director of Strategy and Finance, Brookfield Multiplex. She was named Mentor of the Year Awards for her role as a personal mentor to more than 50 young people, and founding online mentorship website <a href="https://www.steelheels.com.au/" target="_blank">Steel Heels</a>.
Anita Mitchell, Lend Lease's general manager of Sustainability-Barangaroo South was a finalist in the category of Emerging Leader in the Private Sector. In her role, she works towards making the development carbon neutral, water positive and zero waste.
For the full list of the winners, <a href="https://www.womensagenda.com.au/nab-womens-agenda-leadership-awards-2015#.VO_kEIWM54v" target="_blank">click here</a>. 
</body></html>

Anita Mitchell and Sharon Warburton recognised at NAB Women's Agenda Leadership Awards

<html><body>
The increasing concentration of homes in the inner-suburbs of our capital cities is presenting a range of big challenges, and opportunities, for architects.
The influx of apartment development, particularly in Melbourne, has some concerned about apartment oversupply. <a href="/news/vic/exclusive-does-melbourne-have-an-oversupply-problem">Economists and property pundits</a> are worried about rental yields diving and the degrading value of real estate. Architects are worried about falling design standards and <a href="/expert-insights/buying/no-more-shoebox-apartments-37-square-metre-minimum-size-under-victorian-government-consideration">increasingly cramped low quality apartments</a>. Much of the public is worried about increasing pressure on local infrastructure and whether there will be anything to do in the city apart from look at big, shiny, apartment-filled skyscrapers.
Some, like former <a href="/news/vic/10-quotes-from-planning-minister-matthew-guy-on-changes-in-victoria">Victorian Planning Minister Matthew Guy</a>, who approved many of the high rise towers under currently under construction in the Melbourne CBD. say that the recent apartment boom is tackling the housing undersupply. But whether the stock coming onto the market is appropriate for those who need it is unclear.
Indeed, Prosper Australia estimates that <a href="/news/vic/over-64-000-melbourne-properties-sit-vacant-prosper-australia">17% of properties in the Docklands</a> are functionally vacant.
So is there a way to improve housing affordability through increased supply, without creating (wind tunnel-ridden) inner-city ghost towns?
Hayball director Sarah Buckeridge says part of the solution is to diffuse new housing stock, rather than concentrating development in the inner city.
Buckeridge notes that Melbourne's population growth has putting "a lot of pressure" on the need to provide housing options at an affordable level.
"So I think that it's important to keep providing options not just at a central city location, or suburban locations," says Buckeridge, but to consider the "middle zone": areas that are well served by transport and infrastructure, but not in the immediate inner city.
"High density isn't just happening in the inner city in those tower forms," she says.
"A lot of activity is happening in middle ring suburbs, which is very interesting.
"We've had a lot of <a href="https://www.hayball.com.au/projects/john-street-apartments/" target="_blank">work in the Whitehorse area</a>, in Box Hill and the other suburbs there.
"And I think that's a really positive development for those areas. It's bringing renewal for underutilized housing stock."
<img src="/images/2015/02/26/hayball-feb-26-four.jpg" alt="">
Above: John Street Apartments. Photo: Rhiannon Slatter. Source: Supplied.
As for the inner city, despite <a href="/expert-insights/buying/are-studio-apartments-a-good-pick-for-first-home-buyers">dwindling square footage in CBD studios</a> and concerns over the quality Melbourne's "affordable" developments, Buckeridge says good design doesn't have to be sacrificed for affordability – in fact, architects have an important role in delivering affordable projects.
"It's not a matter of losing out, but obviously you need to be inventive about how you use building technology and materials," she explains.
"It's not about doing a compromised amenity for those apartments at all. I think there's actually a good opportunity to build in a diversity of different price points, even within single developments.
"What we're finding more and more in the inner city locations, there's going to be a market at the affordable end, perhaps at one bed units, through to bigger units attracting a premium price point."
Beyond diversifying the available stock in particular developments or areas, to avoid a concentration of one particular type of resident or an oversupply of one particular type of home, Buckeridge says engaging with a development's location is vital.
"We're advocates of always looking at the site and thinking about what suits those particular locations," says Buckeridge, citing <a href="https://www.hayball.com.au/projects/my80-2/" target="_blank">MY80</a>, a 55 level, 487 residence tower in the Melbourne CBD.
"That's a case where on quite a small site, a high tower form can still provide a good streetscape outcome, and good amenity. It really capitalises on its impact," says Buckeridge.
<img src="/images/2015/02/26/hayball-feb-26-three.jpg" alt="">
Above: MY80 exterior. Photo: Peter Clarke. Source: Supplied.
<img src="/images/2015/02/26/hayball-feb-26-two.jpg" alt="">
Above: MY80 interior. Photo: Shannon McGrath. Source: Supplied.
The project has a variety of communal spaces to draw residents out of their individual apartments and to foster a "vertical neighbourhood", including a dining area, a swimming pool, a cinema, a business area and a rooftop bar.
According to Buckeridge, as architects Hayball attempts to encourage communities in high-density environments by providing opportunities for residents to interact.
<a href="https://www.hayball.com.au/projects/bravo-apartments/" target="_blank">Bravo, in Carlton</a>, is <a href="/expert-insights/buying/carlton-parkside-project-bravo-sells-24-apartments-in-first-three-weeks">another Hayball project</a> which has seen the architects use social spaces, including a roof deck, to create what Buckeridge calls "communities at the building scale".
<img src="/images/2015/02/26/hayball-feb-26-five.jpg" alt="">
Above: Bravo. Photo: Henry Lam. Source: Supplied.
On the street level, architects and developers can work together to create socially active sites as well. Mixed-use tenancies – recreation centres, restaurants or shops – on the street level can engage both residents and passers-by. When street-level engagement is done right, it can stop residents from flooding out of their local areas in search of better food, entertainment or social spaces – leaving apartment-dense districts "soulless", as <a href="/news/vic/docklands-finding-its-feet-after-a-difficult-conception">some have described</a> Melbourne's Docklands.
"Melbourne's CBD is rightly renowned as having a really strong urban realm environment", says Buckeridge. As the density of housing increases, it will be architects who ensure that this remains the case.
Feature photo: MY80 interior. Photo: Shannon McGrath. Source: Supplied.
</body></html>

How to do high density - keep it affordable and diverse: Hayball's Sarah Buckeridge

<html><body>
A mix of local owner occupiers and investors have purchased 70% of the 136 apartments in Doncaster's Gardenhill development, within three months of its launch.
The development is a joint venture between Melbourne's Beulah International and Malaysia's Fajarbaru Builder Group. Woods Bagot designed the project, with a curved façade and sliding panels on both the exterior and in the apartments' interiors.
<img src="/images/2015/02/24/doncaster%20two_0000_1.jpg.jpg" alt="">
The internal movable panels allow residents to rearrange the layout of their apartment.
The rooftop garden has been designed by Jack Merlo and includes a teppanyaki BBQ, an edible garden, deck and grassed entertainment area.
<img src="/images/2015/02/24/doncaster%20two_0002_3.jpg.jpg" alt="">
Prices for one bedroom apartments in <a href="https://www.gardenhill.com.au" target="_blank">Gardenhill</a> (pictured above) begin at $390,000. Both one and two bedroom apartments are available.
Fajarbaru-Beulah International (Melbourne) executive director Jiaheng Chan says the flexible interiors have attracted buyers, which include both downsizers and investors.
"We've found the project's flexible interior spaces and moveable sliding panels along with the impeccable architectural design and stunning uninterrupted views to be some of the biggest draw cards for the project so far," said Jiaheng.
The development, currently under construction, is one of a number currently being marketed to buyers in <a href="/news">Doncaster</a>.
The nearby <a href="https://imperialdoncaster.com/" target="_blank">Imperial Doncaster</a> (pictured below) is offering a Chinese New Year special, with developer AFX covering stamp duty costs for buyers until 28 February. The medium-rise, 10 storey development has 93 apartments.
<img src="/images/2015/02/24/doncaster_0000_1.jpg.jpg" alt="">
Designed by Buchan Group Architects, the apartments are priced from $547,000 for a two bedroom apartment, but some apartments exceed $2 million. There are currently 12 apartments available.
The AXF Group, which began developing property in 2005, ranked among the busiest developers in Melbourne's outer eastern suburbs, <a href="/news/vic/chinese-developer-asx-property-selling-imperial-the-crown-of-doncaster">Property Observer reported in 2013</a>.
<img src="/images/2015/02/24/doncaster_0005_6.jpg.jpg" alt="">
In 2011, the group completed another Doncaster project, The Berkeley, a 116-apartment block. 
</body></html>

Doncaster's latest Gardenhill 70% sold as Imperial reaches tail end

<html><body>
A $3.35 million Vaucluse home was the most expensive sold last week, exceeding the sale of $3,225,000 Mosman house.
The house at <a href="https://www.domain.com.au/property/sold/house/nsw/vaucluse/?adid=2011702484" target="_blank">9 The Crescent in Vaucluse</a> (pictured above) had remained in the same family for 53 years. It has four bedrooms, two bathrooms and a powder room, with separate living and dining rooms.
The home also includes two sunrooms, with timber flooring and decorative ceilings. The house, sold through Richardson &amp; Wrench Double Bay, is located just across the road from waterfront parklands.
A renovated Federation home at <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-mosman-nsw-2088/225370" target="_blank">131 Middle Head Road, Mosman</a> was the second highest sale of the week. Sold through McGrath Estate Agents, the c1910 home with a rear north orientation has four bedrooms and rear access.
The top 10 sales of the week ending 22 February
<ol>
<li>9 The Crescent, Vaucluse, NSW, 2030, four-bedroom house, sold on February 17 by Richardson &amp; Wrench Double Bay for $3.35 million </li>
<li>131 Middle Head Road, Mosman, NSW, 2088, four-bedroom house, sold at auction on February 18 by McGrath Estate Agents for $3.225 million </li>
<li>6 Alton Avenue, Concord, NSW, 2137, five-bedroom house, sold at auction on February 17 by McGrath Estate Agents for $2.99 million </li>
<li>63 Wharf Road, Gladesville, NSW, 2111, five-bedroom house, sold on February 17 by McGrath Estate Agents for $2.9 million </li>
<li>4A Bellevue Garden, Bellevue Hill, NSW, 2023, three-bedroom house, sold prior to auction on February 18 by Phillips Pantzer Donnelley for $2.79 million </li>
<li>5 Linkmead Avenue, Clontarf, NSW, 2093, five-bedroom house, sold at auction on February 21 by Clarke &amp; Humel Property Manly for $2.715 million </li>
<li>37 Windsor Street, Paddington, NSW, 2021, three-bedroom house, sold prior to auction on February 21 by BresicWhitney Estate Agents Darlinghurst for $2.7 million </li>
<li>369 Esplanade, Mount Martha, VIC, 3934, five-bedroom house, sold on February 17 by Harcourts Mornington for $2.65 million </li>
<li>44 Nelson Road, Lindfield, NSW, 2070, four-bedroom house, sold at auction on February 21 by L J Hooker Concord for $2.643 million </li>
<li>36 Bourne Road, Glen Iris, VIC, 3146, four-bedroom house, sold at auction on February 21 by Marshall White Real Estate for $2.54 million</li>
</ol>
Source: CoreLogic RP Data 
</body></html>

After 53 years of ownership, Vaucluse home pips Mosman: CoreLogic Top 10 sales

<html><body>
All eyes are on Hollywood today.
Will Julianne Moore finally get her Oscar? What will she wear? Birdman or Boyhood?
In case you're wondering, our tips: Yes; Tom Ford (unfortunately, it turned out to be Chanel); Birdman.
To celebrate the 2015 Academy Awards, Property Observer nominates five outstanding Hollywood homes.
Stahl House 
 <img src="/images/2015/02/23/800px-Case_Study_House_No._22.JPG" alt="">
Source: Ovs, Wikimedia Commons.
Stahl House, aka Case Study House #22, is one of the most famous homes in the Hollywood Hills. Designed by Pierre Koenig and built in 1959 as part of the Case Study Houses program, the glass and steel modernist house has an "L" shape, and offers panoramic views of Los Angeles from its hillside perch.
The home has also been the set of many commercials and films (though none, to our knowledge, that have been nominated for an Academy Award).
Photograph: Julius Schulman
The Chemosphere
<img src="/images/2015/02/23/John_Lautners_Chemosphere_8189866290.jpg" alt="">
Source: evdropkick, Wikimedia Commons. 
The Chemosphere is not only a famous Hollywood home but a home made famous in Hollywood films.
Lautner's modern works are both a favourite of filmmakers, with Elrod House featuring in Diamonds are Forever, and the Schaffer residence appearing in A Single Man.
The Chemosphere is a one-storey octagon, set on a concrete pole. The feat of engineering and its distinctive look has seen the home often imitated in film - it was the direct inspiration for Sam Rockwell's pad in the Charlie's Angels film.
Hollyhock House
 <img src="/images/2015/02/23/Hollyhock_House.JPG" alt="">
Source: Sfoskett, Wikimedia Commons.
Frank Lloyd Wright's first Los Angeles project was Hollyhock House in East Hollywood. The home, which Wright described as being of a "California Romanza" style, was built for oil heiress Aline Barnsdall.
Completed in 1921, the house is set around a central courtyard, with tilted walls at the exterior. The hollyhock itself is a motif used throughout the house.
3028 Paulcrest Drive, Hollywood Hills
<img src="/images/2015/02/23/mila%20kunis%20house.jpg" alt="">
Actress Mila Kunis sold her contemporary Mediterranean style home late last year for a reported US$3.995 million sum.
The <a href="https://www.estately.com/sold/3028-paulcrest-drive--2" target="_blank">house off Mullholland Drive</a> has five bedrooms, five bathrooms, a pool and an eight-seat movie theatre. It features vaulted ceilings with exposed timber beams throughout.
Moorcrest
<img src="/images/phocagallery/2014/07/moorcrest-july-22/moorcrest_0000_1.jpg.jpg" alt="">
The incredible former house of Charlie Chaplin is now owned by musician Joanna Newsom and her husband, Emmy winning comedian and actor Andy Samberg.
The <a href="/news/from-incredibad-to-chaplins-pad-andy-samberg-and-joanna-newsom-buy-legendary-hollywood-home">Beachwood Canyon home</a> was originally built as part of the Krotona Colony, the national headquarters of an esoteric philosophical group called the Theosophical Society.
The home has Moorish, Gothic, Mission-revivalist and Art Nouveau influences. It was designed in the early 20s by Marie Russak Hotchener.
</body></html>

And the Oscar for best house goes to: Five great Hollywood trophy homes

<html><body>
Federal Liberal MP Kelly O'Dwyer says there is "no one silver bullet" when it comes to housing affordability.
However, at speech made today to the Committee for Economic Development of Australia (CEDA), O'Dwyer, who stood as the chair of a Federal Parliamentary inquiry into the role of foreign buyers in Australia's property market, noted the role of foreign investors in increasing housing supply.
"One of the most critical things I think that the government can do is make sure that we encourage foreign investment," she said.
O'Dwyer said foreign investment was "absolutely critical" to the supply of new dwelling stock and alleviating price pressure.
"This is something that the house standing committee on economics heard a lot about.
"We received evidence from not only economists and academics but also the Reserve Bank of Australia, who said that if you can increase dwelling stock, this has an impact on price... you can keep costs reasonably contained."
O'Dwyer answered questions to CEDA members following a speech on foreign investment, where she invoked the classic Australian comedy The Castle, referencing Australia's enthusiasm for home ownership. Having earlier commented on the Foreign Investment Review Board's (FIRB) lack of action on breaches of current regulation, which requires most foreign buyers to only purchase new housing stock, O'Dwyer noted the opposite effect that foreign investors can have in the established housing market.
"Now, when it comes to existing dwellings, it's somewhat different," she said.
"When there is restricted supply and increased competition, that will also have an impact on price."
O'Dwyer did, however, maintain that the issue of affordability remains a complex one.
"Now, I don't think it's the government's role to determine the price of people's home. It's the government's role to make sure the policy settings are broadly right, so that we encourage new dwellings to be constructed, so that we make sure that there are options for people... to purchase, to rent, or to build themselves.
"And this is a really complex equation. There is no one silver bullet to housing affordability, but we have to look at all these elements combined in order to make sure the dreams of particularly young Australians, to be able to purchase or own their own home – are still going to be a reality for them as they were for their parent's generation."
While O'Dwyer stressed the number of different factors affecting housing affordability, Prime Minister Tony Abbott <a href="/expert-insights/buying/tony-abbott-suggests-foreigners-pricing-out-young-home-buyers">also commented earlier this week</a> on his plans to tighten regulation around foreign investment to protect first home buyer's, saying "obviously, the last thing we want to be doing is pricing young home buyers out of the market".
 
</body></html>

Foreign investment "absolutely critical" to increased housing supply: Kelly O'Dwyer

<html><body>
Sellers are loosening their grip around the property market, according to research from LJ Hooker.
However, the real estate agency's latest Buyer/Seller Index has shown that the national market remains well and truly in favour of sellers.
While there was a 13% increase in stock on the market over the December quarter, buyers "easily absorbed" the new stock. The the period marked the 10th consecutive quarter deemed a sellers market by LJ Hooker.
LJ Hooker National Research Manager Mathew Tiller said the Reserve Bank's rate cut actions would have a strong influence on the Buyer/Seller Index.
"If the RBA lowers the cash rate again, then that will further stimulate buyer demand, increasing the weighting in favour of sellers,'' said Tiller.
"But a stable period of interest rates will see demand remain consistent, and continue the Index's course toward a balanced position, as new listings rise and lower economic growth impacts demand.''
According to LJ Hooker's head of real estate, Christopher Mourd, the new uptick in listings reflect seller confidence.
"There are two things currently driving property owners to sell: increased market exposure, thanks to the number of people wanting to buy; and acknowledgement that the rate of price growth in many areas has peaked, and is beginning to slow,'' said Mourd.
"Home owners wanting to upgrade to something that better suits their current lifestyle or aspirations want to transact at a time that offers the best conditions for them and, as the Index has shown, that advantage is closing.
"The feedback from our offices is that buyers are still eager and this weekend's auctions will be a good barometer of any influence of the drop in the February cash rate.''
New South Wales, Victoria, Queensland, South Australia and the Northern Territory remain sellers markets, according to the Index. Tasmania, which saw a recent price boost, moved from a <a href="/expert-insights/buying/hobart-shines-in-2015s-strong-start-but-house-price-growth-set-to-slow-corelogic-rp-datas-january-results">buyers market to a balanced markets</a>.
Both Western Australia and the Australian Capital Territory moved to favour buyers.
</body></html>

Property market regaining its balance, but still favours sellers: LJ Hooker

<html><body>
Last year saw the completion of more towers of 200 metres or over than any other year on record.
According to the Council on Tall Buildings and Urban Habitat (CTBUH), a record 97 buildings of 200 metres or higher were built in 2014, 11 of which were "supertalls" – buildings 300 metres or taller.
Only 30 of last year's 200 metre plus buildings are from outside of Asia, with China contributing 58 of the completed towers.
After last year's record breaking year of skyscraper construction, there are a total of 935 buildings that surpass the 200 metre high mark in existence around the world.
Here are eight of Property Observer's favourite Chinese skyscrapers of last year.
<ul>
<li>Wangjing SOHO, Beijing</li>
</ul>
<img src="/images/2015/02/20/ZHA_Wangjing-Soho_04.jpg" alt="">
Source: Zaha Hadid Architects
The three-tower Wangjin SOHO complex was designed by architectural superstar Zaha Hadid. Hadid's signature curved forms are on display, though this project was slightly less controversially curvaceous than Al Wakrah Stadium, despite allegations that the project's designs have been plagiarised.
Height: 200 metres
<ul>
<li>The Wharf Times Square 1, Wuxi</li>
</ul>
<img src="/images/2015/02/20/wharf%20times%20square.jpg" alt="">
Source: 苏宁广场
China's tallest skyscraper contribution of 2014 – and the third tallest skyscraper to be built last year – is the Wharf Times Square 1. Designed by Aeda, the mixed use building holds a hotel and office spaces over its 68 floors.
Height: 339 metres
<ul>
<li>Wuxi Suning Plaza 1, Wuxi</li>
</ul>
<img src="/images/2015/02/20/wuxing%20suning%20plaza1.jpg" alt="">
Source: RTKL
Wuxi has also laid claim to the fourth tallest tower built last year, the Wuxi Suning Plaza 1. The 328 metre tall building has an angular top and is designed for mixed use. It was developed by Suning Real Estate Group, and designed by RTKL.
Height: 328 metres
<ul>
<li>Soochow International Plaza Towers, Huzhow</li>
</ul>
<img src="/images/2015/02/20/international%20plaza.jpg" alt="">
Source: Dadongwu Group
The two (East and West) Soochow International Plaza towers come in at 288 metres. The dual tower complex is perfectly symmetrical, with matching zig-zags on the façade of each tower. Dadongwu Group developed the project.
Height: 228 metres
<ul>
<li>R&amp;F Yingkai Square, Guangzhou</li>
</ul>
<img src="/images/2015/02/20/rf%20yingkai.jpg" alt="">
Source: 探长
The wiggly R&amp;F Yingkai Square might look like a behemoth in any other city. But among Guangzhou's towers, it blends right in. Formerly known as the Park Hyatt Guangzhou Mixed Use Tower, R&amp;F Yinkai Square was designed by Goettsch Partners. It's the 13th tallest building to be constructed in 2014.
Height: 296 metres
<ul>
<li>Fortune Financial Centre, Beijing</li>
</ul>
<img src="/images/2015/02/20/fortune%20financial.jpg" alt="">
Source: Servcorp
Beijing's Fortune Financial Centre comes in at 267 metres, making it this 20th tallest building constructed in 2014. The offices of major companies, including Intel, Toshiba, Dell and Ford, as well as Australian company Servcorp, are the primary occupants of the tower.
Height: 267 metres
<ul>
<li>Heung Kong Tower, Shenzen</li>
</ul>
<img src="/images/2015/02/20/heungkong.jpg" alt="">
Source: 1788111 via skycrapercity.com
The Heung Kong Tower is one of many "supertalls" in Shenzen, but stands apart in its neighbourhood, and is reportedly the tallest in the area. It was designed by the Beijing Institute of Architectural Design, according to CBTUH, and is also known as the Shenzen ChangCheng Center. It was the ninth tallest tower
Height: 303 metres
<ul>
<li>Wuxi Maoye City – Marriott Hotel, Wuxi</li>
</ul>
<img src="/images/2015/02/20/wuxi%20mayoe%20city.jpg" alt="">
Source: abjest
Yet another Wuxi supertall, this tower was the eighth tallest to be built last year, began construction in 2008 and the 88th tallest in the world (for now).
</body></html>

Eight towering Chinese skyscrapers that highlight sky high aspirations

<html><body>
The property woes of the Pilbara region in the wake of a moving mining economy are well known.
As the iron ore industry moves from the construction phase to the operations phase and commodity prices drop, so too have rents and home prices.
The Pilbara's property boom, a few years ago, saw investors chase after the stream of fly-in, fly-out workers that flooded its major mining towns. The promise of a population spike and an undersupply of properties lured in investors after sky-high rental yields.
There's no doubt that there was once money to be made by investors who purchased in the Pilbara's mining towns, but those who bought in at the height of the boom have lost, and lost big.
According to the Western Australian government's latest Pilbara Residential Housing &amp; Land Snapshot, all three major towns ­– Port and South Hedland, Karratha and Newman ­– have recorded rental declines in the December quarter of 2014, for the fifth consecutive quarter in a row.
Click charts to open in a new window:
<a href="/images/2015/02/19/Picture%2052.png" target="_blank"><img src="/images/2015/02/19/Picture%2052.png" alt=""></a>
Home prices aren't faring much better, for those who are hoping to sell and recover some of the declining rental income with capital growth:
<a href="/images/2015/02/19/Picture%2053.png" target="_blank"><img src="/images/2015/02/19/Picture%2053.png" alt=""></a>
In Port Hedland, rental prices have been declining for even longer ­– the last three months of 2014 marked the ninth consecutive quarter of declines. The average advertised rental price peaked in the September quarter of 2014 at $2,544 per week. In the latest quarter, the average was less than half that: $1,153 per week, a seven year-low.
The graph below shows just how volatile rents have been in Port Hedland, compared with the low steady growth of rents in Perth.
<a href="/images/2015/02/19/Picture%2054.png" target="_blank"><img src="/images/2015/02/19/Picture%2054.png" alt=""></a>
Last week, Port and South Hedland real estate agent Barry Walsh of Jan Ford Real Estate told <a href="/expert-insights/buying/port-hedlands-price-plummet-can-it-recover">Property Observer</a> the mining boom peak prices were unsustainable.
"It was totally unsustainable where it was, and now that it's stabilising, it will bottom out, and is in the throes of doing that," said Walsh.
"It was unfortunate that the market went where it did, to unsustainable and disproportionate price levels."
When workers began to exit the region in mid-2012, leaving a surplus of rental properties and driving down rents, investors followed.
The graph below shows the spike in homes on the market, beginning in the first quarter of 2013.
<a href="/images/2015/02/19/Picture%2055.png" target="_blank"><img src="/images/2015/02/19/Picture%2055.png" alt=""></a>
One of the characteristic features of a single-industry town, particularly ones with a large proportion of investor properties in the market and transient workforces, is volatility. Karratha displays a similar pattern to that seen in Port Hedland, with the number of rental properties advertised rising dramatically in mid-2011, mirrored by a steep decline in advertised rents.
<a href="/images/2015/02/19/Picture%2056.png" target="_blank"><img src="/images/2015/02/19/Picture%2056.png" alt=""></a>
That volatility is largely due to the region's transient workforce, which made up a large segment of Karratha's population and housing demand. According to the <a href="https://www.abs.gov.au/AUSSTATS/abs@.nsf/Lookup/4102.0Main+Features10April+2013#p4" target="_blank">Australian Bureau of Statistics</a>, Karratha's census night population (the people staying in Karratha on census night) increased from 13,257 in August 2006 to 20,061 in 2011. The "usual residence population", however, was only 16,475 in 2011, up from 11,727 in 2006.
Back-of-the-envelope calculations imply that in 2011, around 18% of the people in Karratha were not usual residents – presumably, many of them were fly-in, fly-out workers.
Karratha's home prices show the same pattern as that seen in Port Hedland, implying a stream of exiting investors – around six months after rents started declining, in early 2011, the number of homes on the market began to climb:
<a href="/images/2015/02/19/Picture%2057.png" target="_blank"><img src="/images/2015/02/19/Picture%2057.png" alt=""></a>
Further inland is Newman, where the amount of rental stock advertised began to increase in late 2012 (see graph below).
<a href="/images/2015/02/19/Picture%2058.png" target="_blank"><img src="/images/2015/02/19/Picture%2058.png" alt=""></a>
The <a href="https://www.realestate.com.au/property-house-wa-newman-409944187" target="_blank">four bedroom Newman home in a planned estate</a> pictured below is currently available to rent. Its asking rent has more than halved in the past year: In March 2014, it was advertised at $2,000 per week. That number gradually eroded over the months, and landlords are now asking for $900 per week.
<img src="/images/2015/02/19/newman.jpg" alt="">
2 Hibiscus Way, Newman
They paid $408,146 for the property in 2012. If it's rented at its current asking price, it will yield 11.5%
Newman's property market displays the volatility characteristic of the region.
<a href="/images/2015/02/19/Picture%2061.png" target="_blank"><img src="/images/2015/02/19/Picture%2061.png" alt=""></a>
Whether the Pilbara's property market has stabilized and bottomed out, or will continue to see declines, remains to be seen.
</body></html>

The Pilbara’s property market descent

Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

Joel Robinson

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

<section data-scroll-anchor="false" data-testid="conversation-turn-6" data-turn="assistant" data-turn-id="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-2" data-turn-id-container="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-2" dir="auto">
<section data-scroll-anchor="false" data-testid="conversation-turn-2" data-turn="assistant" data-turn-id="request-WEB:5a5ab36c-8dd3-454c-b456-c501f22f0eb4-0" data-turn-id-container="request-WEB:5a5ab36c-8dd3-454c-b456-c501f22f0eb4-0" dir="auto">
The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
</section>
</section>

[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

Local Little Bay residents, along with buyers from premium postcodes across Sydney’s affluent Eastern Suburbs, have dominated purchases in developer-builder Urban Property Group’s first Eastern Suburbs apartment development, <a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a>.

The $250 million coastal project, one of the first new developments in the area in several years, has proven particularly popular with downsizers, especially those from Coogee and Bondi. One Double Bay downsizer paid $4.7 million for a four-bedroom penthouse, setting a new local apartment price record in the process.

Buyers have been attracted to the combination of coastal tranquillity, premium design and amenity-rich neighbourhood living. The walkable village setting, along with proximity to three of Sydney’s leading golf courses, New South Wales Golf Club, St Michael’s Golf Club and The Coast Golf Club, has also been a key drawcard.

[smartcode_project:default project_id=112343 project_image_fid=352689]

Built across two low-rise buildings designed by <a href="https://www.apartments.com.au/architects/hill-thalis-architecture-urban-projects-pty-ltd">Hill Thalis</a> and set along a lush, landscaped green spine, designed by leading landscape architect <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>, ESTE Little Bay offers a collection of one, two, three and four-bedroom residences with interiors by Richards Stanisich.

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> Sales Director, Tom McIvor said the response to ESTE has been "nothing short of extraordinary."

“Buyers have been quick to recognise ESTE as a rare opportunity to invest in a coastal sanctuary that offers both seclusion and connectivity to the heart of Sydney,” McIvor said.

[smartcode_project:default project_id=112343 project_image_fid=352687]

<a href="https://www.apartments.com.au/project-marketer/srm-residential">SRM Residential</a> Senior Director, <a href="https://www.apartments.com.au/project-marketer/srm-residential">Clayton Ross</a> said the local market has responded incredibly well, driven by ESTE’s exceptional location and the rarity it offers.

“We’ve seen strong interest from a variety of buyer groups, all of whom are drawn to the exclusivity and quality of the build and construction by the 4.5-star iCIRT-rated builder / developer, Urban Property Group. There’s truly nothing else like it along Sydney’s coastline.”

[smartcode_project:default project_id=112343 project_image_fid=352690]

The project also includes robust buyer protections, including Resilience Insurance’s Latent Defects Insurance, providing 10 years of structural cover, and an independent iCIRT-rating of the developer.

“The iCIRT-rating adds another layer of confidence,” Ross added. “Buyers see it as a safeguard for their investment and their lifestyle.” A highlight of ESTE’s offering is its exclusive wellness amenities, including a heated rooftop infinity pool and outdoor heated spa, a state-of-the-art Technogym fitness centre, and a sauna.

<a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a> is topped out and is on track to complete towards the end of 2026, with residents moving in before Christmas.

[smartcode_project_cta:default project_id=112343]

Jessie Richardson

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News