<html><body>
A range of new laws regarding home building will be introduced in New South Wales this week.
From 15 January, owner-builders will only require a permit for works valued over $10,000, not $5,000. The required threshold for owner-builder courses will also be lifted. Currently, owner-builders must complete an approved course for projects valued over $12,000. After 15 January, the course will only be required for projects costing $20,000 or more.
Owner-builders will also need to name all other owners of the land on owner-builder permit applications. According to the NSW government, the new regulation is intended to prevent owner-occupiers from using the application permit to carry out unlicensed commercial building work.
Those named in an owner-builder permit won't be able to apply for another owner-builder permit for five years, potentially affecting any nomadic owner-occupiers who renovate, redevelop and flip their homes frequently.
Owner-occupiers will also be unable to get permits for dual occupancy projects, barring "special circumstances". From 15 January, they will not be able to get statutory insurance (though their contractors will still require it), and will have to disclose that there is no statutory insurance on the property in any sale contract if the property sells within the warranty period.
It's not just owner-builders who will see changes to their regulatory environment.
From Thursday, there will be changes to builder licence requirements to combat phoenix schemes, where collapsed and indebted companies restart with different names.
Simultaneously, licensing rules will be loosened so builders only legally require a license for works valued over $5,000. Currently, builders must have a license for any work that costs $1,000 or more, including labour and materials. Although the threshold for most builders has increased, tradespeople doing specialist jobs like plumbing or electrical work will require a licence.
For standalone jobs like painting or repairs to water features or tennis courts, builders will no longer need a licence.
NSW Fair Trading Minister Matthew Mason-Cox will also introduce changes to the Home Warranty Insurance Scheme, which will be renamed the "Home Building Compensation Fund".
To claim compensation from the government for building faults, a defect must be deemed "major". Until now, a six year warranty was available for any "structural" defects to homes made by builders or developers. A major defect is defined by the NSW government as those that cause "the inability to inhabit or use the building (or part of the building) for its intended purpose," or "the destruction of the building or any part of the building" or "a threat of collapse" of the building or any of its parts.
Some claim the terminology change will <a href="/expert-insights/investing/nsw-home-owners-dodgy-construction-claims-curbed-by-government">degrade consumer rights</a> but the NSW government claims <a href="/expert-insights/finance/home-owner-rights-still-strong-despite-building-reforms-nsw-fair-trading">home owners won't lose protections</a>, with "general defects" still covered under the standard two year warranty.
Homeowners hoping to wash their hands of any dodgy builders may run into trouble with the government requiring tribunals and courts to "consider rectification as the preferred outcome". Owners cannot "reasonably refuse" access to builders who want to fix their defective work, and Fair Trading Inspectors will be able to "oblige" owners to pay builders money owed under their contract.
Builders will remain responsible for warranties for all work completed on a home, but subcontractors will be responsible for their own statutory warranties. If an owner engages an independent professional who gives written specialist advice to a builder, that builder will now also have a legal defence if the advice contributes to a building defect.
After Thursday, strata buildings will also be considered complete with the issue of an occupation certificate.
</body></html>

jrichardson-uRX5hFdKfN

Changes to NSW home building laws coming this week

<html><body>
Brisbane's median house price now sits at $466,500 after 0.8% growth over December, according to CoreLogic RP Data.
Over 2014, the city saw house values increase by 4.8%­ – the third highest yearly growth rate of Australia's capital cities, after Sydney and Melbourne.
Property Observer looks to recent Brisbane sales to see just what a median-priced house looks like.
<a href="https://www.realestate.com.au/property-house-qld-forest+lake-117448451" target="_blank" style="line-height: 1.3em;">8 Doncaster Place, Forest Lake</a>
<img src="/images/2015/01/12/1.jpg" alt="">
This three bedroom house sold for $460,000 in December last year. The house in the masterplanned Creekwood Estate sits on a 704 square metre block, 18 kilometres from the Brisbane CBD. The home includes a study and a media room, with two bathrooms.
<ul>
<li>Price: $460,000</li>
<li>Bedrooms: Three</li>
<li>Drive to CBD: 28 minutes</li>
</ul>
<a href="https://www.realestate.com.au/property-house-qld-westlake-118261079" target="_blank">Westlake</a>
<img src="/images/2015/01/12/westlake-jan-12-breakout.jpg" alt=""> 
A brick and timber home set on 829 square metres sold for $468,000 last week. The three bedroom house has one "two-way" bathroom and front and back verandahs. It also offers level side access.
<ul>
<li>Price: $468,000</li>
<li>Bedrooms: Three</li>
<li>Drive to CBD: 23 minutes</li>
</ul>
<a href="https://www.realestate.com.au/property-house-qld-stafford+heights-118619251" target="_blank">305 Kitchener Road, Stafford Heights</a>
<img src="/images/2015/01/12/3.jpg" alt=""> 
Buyers paid $467,000 for this three bedroom house in Brisbane's north. The brick and tile house on a 607 square metre plot has open plan living areas, with a basement double garage and laundry. The vendors sold the home after just over one year of ownership. They purchased it for $425,000 in November 2013, reflecting 9.9% annual growth.
<ul>
<li>Price: $467,000</li>
<li>Bedrooms: Three</li>
<li>Drive to CBD: 15 minutes</li>
</ul>
<a href="https://www.realestate.com.au/property-house-qld-cannon+hill-118544475" target="_blank">2 Aeroplane Street, Cannon Hill</a>
 <img src="/images/2015/01/12/4.jpg" alt="">
This post-war house sold for $460,000 late last year. The house in Cannon Hill is set on 670 square metres and has two bedrooms, with one "sleep-out" – an enclosed deck area that can be used to sleep in. There are two living areas, one of which includes a fireplace.
<ul>
<li>Price: $460,000</li>
<li>Bedrooms: Three</li>
<li>Drive to CBD: 14 minutes</li>
</ul>
<a href="https://www.realestateview.com.au/Real-Estate/robinson-road-west-aspley/Property-Details-sold-residential-7933950" target="_blank">559 Robinson Road, West Aspley</a>
<img src="/images/2015/01/12/5.jpg" alt=""> 
Vendors secured $466,500 for this four bedroom house in West Aspley. The single level home sits on a recently landscaped 607 square metre plot, and offers off road parking for up to three cars. The vendors purchased the house in March 2011 for $375,000.
<ul>
<li>Price: $466,500</li>
<li>Bedrooms: Four</li>
<li>Drive to CBD: 20 minutes</li>
</ul>
</body></html>

What can you buy for Brisbane’s median house price?

<html><body>
While 2014 saw house prices in Australia's capital cities continue to increase, rents lagged behind.
According to CoreLogic RP Data's latest Rental Report, house rents across the capital cities increased by just 1.2% over the year, with the median rent stagnating at $430 per week in the final quarter.
The slowing rental market was also reflected in the performance of rental units last quarter. The median asking price of capital city units, like houses, <a href="/expert-insights/investing/unit-performance-weak-as-rental-growth-slows-to-decade-low">saw no growth over the three months</a> to December.
Australia-wide, the median weekly advertised rent for a house is now $400.
Of all the capital cities, Hobart saw the greatest rental growth for houses. Asking rents were up 5.4% for the quarter, to $343. The median figure is still the lowest of any capital city.
This two bedroom house in Sandy Bay is currently advertised to rent at $340 per week.
<img src="/images/2015/01/12/3-13-A-Dalkeith-Court-Sandy-Bay-TAS-7005-Real-Estate-photo-1-large-8062562.jpg" alt="">
<a href="https://www.realestateview.com.au/rental-properties/3-13-a-dalkeith-court-sandy-bay/Property-Details-rent-residential-8062562" target="_blank">3/13 Dalkeith Court</a> (pictured above) was purchased for $432,000 in October last year. If the owners secure a tenant at $340 per week, it will be rented at a yield of 4.1%. CoreLogic RP Data's Rental Report notes that Hobart's rental performance in the past 12 months has been significantly stronger than its five-year average growth.
Brisbane had the second highest increase for the December quarter, with rents for houses up 2.5% to a median of $410. Adelaide house rents increased 1.4% to $350 and Canberra's median increased 1.1% to $475, though rents were down 5% on a yearly basis.
The median asking rent for a house in Sydney is now $525, after 1% quarterly growth.
Sydney's house rents remain the most expensive in the country. For the city's median asking rent, a renter might secure a home like the one pictured below.
 <img src="/images/2015/01/12/118-Silver-Street-St-Peters-NSW-2044-Real-Estate-photo-1-large-7932640.jpg" alt="">
The three bedroom house in St Peters (pictured above) is currently advertised at $520 per week. <a href="https://www.realestateview.com.au/rental-properties/118-silver-street-st-peters/Property-Details-rent-residential-7932640" target="_blank">118 Silver Street</a> has long been used as a rental property, with its current advertised rent down from the heady peak of $900 per week in November 2012 (adjusted to $850 per week six months later).
In 2008, it was advertised for $350 per week. At its current asking rent of $520 per week, the house offers a potential yield of 11.9% – the current owners purchased the home for $227,000 in October 1992.
While asking rents for houses in Melbourne remained unchanged for the final quarter of 2014, Perth and Darwin saw declines. The median rent for house in Darwin decreased 0.8% in the quarter, but the city's houses remain the most expensive to rent in Australia, with a median of $645.
Perth's housing market took the greatest hit in the quarter, dropping 2.2% to a median of $450. The city's rental market was the weakest of the capitals across 2014, with asking rents for houses down 6.3% in 2014.
The Bayswater house pictured below is advertised at $450 per week.
 <img src="/images/2015/01/12/3570771-01.jpg" alt="">
The owner paid $420,000 for <a href="https://www.realestateview.com.au/rental-properties/25-farley-way-bayswater/Property-Details-rent-residential-8161062" target="_blank">25 Farley Way</a> (pictured above) in 2009. If they secure a tenant at $450 per week, the home will be yielding 5.6%.
CoreLogic RP Data noted that over 2014, rental growth was at the lowest level recorded in more than a decade.
To see CoreLogic RP Data's summary of the capital city house rental markets, click below.
<hr class="system-pagebreak">
CoreLogic RP Data's capital city house market summaries for the 2014 December quarter:
Sydney
<img src="/images/2015/01/12/Picture%2036.png" alt="">
Melbourne
<img src="/images/2015/01/12/Picture%2037.png" alt="">
Brisbane
 <img src="/images/2015/01/12/Picture%2038.png" alt="">
Adelaide
 <img src="/images/2015/01/12/Picture%2039.png" alt="">
Perth
 <img src="/images/2015/01/12/Picture%2040.png" alt="">
Darwin
 <img src="/images/2015/01/12/Picture%2041.png" alt="">
Canberra
<img src="/images/2015/01/12/Picture%2042.png" alt="">
Hobart/Tasmania
 <img src="/images/2015/01/12/Picture%2043.png" alt="">
Source: CoreLogic RP Data's quarterly Rental Report, December 2014.
</body></html>

House rents vary across the capitals in slow 2014

<html><body>
Rents across Australia's capital cities grew by just 1.8% over the last year, according to CoreLogic RP Data's quarterly Rental Review.
The data provider noted the rental markets performance is the weakest it has been since the mid-2000s.
The median weekly rent for a capital city unit now sits at $410, with Darwin commanding the highest rental rate. Landlords in the Northern Territory capital are asking for $550 per week in rent at the median, which is down 1.8% from the previous quarter.
The fifth floor two bedroom, two bathroom apartment at  <a href="https://www.realestate.com.au/property-unit-nt-woolner-414659271" target="_blank">22/3 Brewery Place, Woolner</a> is currently advertised to rent at $550 per week.
<img src="/images/2015/01/8/dawin%20unit.jpg" alt="">
It was last advertised to rent for $450 per week in April 2008, and was listed as vacant with an asking rent of $350 per week the year before. Having paid $475,000 for the apartment in April 2012, the vendors will achieve a 6% rental yield if they secure a tenant at its current advertised price.
Hobart remains the cheapest capital city in Australia for unit rentals, with a median advertised rent of $280 per week.
CoreLogic RP Data notes that overall, the performance of the unit rental market was somewhat weaker than that of the house market over the past quarter, with Hobart and Brisbane the only capital cities to see an increase in rents over the three months to December. Hobart's unit rents were up 1.8% for the quarter, with Brisbane's up 1.3% over the same period.
Canberra's unit rental declines slowed towards the end of the year, with no change recorded over the quarter, but the rents down 7.3% on a year-on-year basis. This one bedroom apartment at <a href="https://www.realestateview.com.au/rental-properties/78-10-ipima-street-braddon/Property-Details-rent-residential-8099006" target="_blank">78/10 Ipima Street in Braddon</a> is currently advertised to rent at the city's median of $380 per week.
<img src="/images/2015/01/8/canberra%20unit.jpg" alt="">
The asking rent for the 61.6 square metre apartment has not changed since December 2013. Canberra recorded the greatest drop in unit rents over 2014, while Perth landlords lowered their asking rents for units by 4.4% in the same period.
CoreLogic RP Data research analyst Cameron Kusher said declines in Perth, Darwin and Canberra were the exceptions, but capital city rental growth remained slow across all markets.
"Given the recent high number of dwelling approvals and commencements coupled with the high level of purchase activity from investors, we would anticipate that the rate of rental growth will remain soft throughout 2015," said Kusher.
While rents in Adelaide also remained unchanged the three month period, Sydney, Melbourne, Perth and Darwin all recorded declines. Sydney's median unit rent was recorded at $495 for the quarter, down 1%.
Melbourne asking rents for apartments and units have declined by 1.4% for the quarter, but were up 1.4% on a yearly basis. A two bedroom apartment in the complex pictured below is currently advertised at Melbourne's current unit median, $360 per week.
<img src="/images/2015/01/8/21-14-Mitford-Street-St-Kilda-VIC-3182-Real-Estate-photo-1-large-8117090.jpg" alt="">
The advertised rent for the apartment at <a href="https://%20http:/www.realestateview.com.au/rental-properties/21-14-mitford-street-st-kilda/Property-Details-rent-residential-8117090" target="_blank">21/14 Mitford Street, St Kilda</a> has increased by only $10 per week since September 2011. Prior to that, it was advertised at $265 per week in March 2006.
According to Kusher, the performance of rental markets will largely depend on broader economic conditions.
To see CoreLogic RP Data's summary of the capital city rental markets, click below.
<hr class="system-pagebreak">
 CoreLogic RP Data's capital city unit market summaries for the 2014 December quarter: 
Sydney
<img src="/images/2015/01/8/Picture%2032.png" alt="">
Melbourne 
 <img src="/images/2015/01/8/Picture%2024.png" alt="">
Brisbane 
 <img src="/images/2015/01/8/Picture%2026.png" alt="">
Adelaide 
 <img src="/images/2015/01/8/Picture%2027.png" alt="">
Perth 
<img src="/images/2015/01/8/Picture%2028.png" alt=""> 
Darwin 
<img src="/images/2015/01/8/Picture%2029.png" alt=""> 
Canberra 
<img src="/images/2015/01/8/Picture%2030.png" alt=""> 
Hobart/Tasmania 
<img src="/images/2015/01/8/Picture%2031.png" alt=""> 
Source: CoreLogic RP Data
</body></html>

Unit performance weak as rental growth slows to decade low

<html><body>
The Australian Capital Territory Civil and Administrative Tribunal (ACAT) has lowered the penalty tax for a couple who operated an investment property while living overseas, but found that being unaware of a tax was no excuse for a failure to pay.
In 2012, Geoffrey Wade and Siew Imm Tan were living in Singapore due to personal circumstances. In April that year, they used an agent, PRD Nationwide, to rent out their Australian property. For two years, from May 2012 to May 2014, the property was leased, and they were liable to pay land tax for the two years.
Neither the couple nor their agent notified the state tax department of the rental agreement within the required 30 days of its commencement. Once the couple were aware of their tax liability, in early 2014, they began paying the land tax off immediately, in installments.
The Commissioner for ACT Revenue decided to impose a penalty tax on Wade and Tan above the default 25% of unpaid tax, at 50%. The 50% rate usually applies if the taxpayer isn't able to provide a reasonable excuse for failing to pay their land tax, and the mistake was caused by a failure of the taxpayer to take reasonable care.
If a taxpayer intentionally disregards tax law, they are usually charged a penalty at 75% of the unpaid tax. The penalty rate can increase to 90% in certain circumstances.
Wade and Tan disputed the 50% penalty rate, arguing that their agent, acting on their behalf, should have notified ACT Revenue that their property was being rented.
They contended that the legislation which saw them incur a penalty of 50% was irrelevant, as it referred to an owner that had not notified the Commissioner of a rental property, not an agent that had not notified the Commissioner.
However, the Commissioner argued that owners were still responsible for declaring a rental property, even in the case where there has been a failure to do so by the agent. Tan and Wade, it was contended, had failed to take reasonable care, and had an obligation to independently figure out their tax obligations.
Ultimately, the Tribunal considered the couple's exceptional circumstances: Tan and Wade had to remain overseas, were unable to access mail from the Commissioner, and had been let down by their agent (who did not appear as a witness). It also noted that Tan and Wade had not heard of land tax, and upon realising they had a tax obligation, immediately began paying their land tax.
It was, however, also noted that the couple had failed to take reasonable steps to ensure they met their tax obligations, and that they couldn't receive a full remission of their penalty tax.
The Tribunal decided to remit 40% of the penalty tax imposed, which meant they were required to pay a 40% penalty tax, rather than the 50% sought by ACT Revenue.
 
</body></html>

ACAT softens penalty tax for unaware couple

<html><body>
Gentrification.
For investors, it can mean high capital growth, increased tenant demand, and secure passive income.
For locals, it can mean escalating council rates, skyrocketing rents, increasing prices at the neighbourhood shops and, eventually, being ousted from your suburb by cashed up young professionals with a fever for homes in "vibrant", "mutlicultural" or "buzzing" areas. Of course, the process has the habit of pushing out the people who made the area "vibrant", "multicultural" or "buzzing" in the first place.
Many investors seek out areas which are gentrifying, believing they'll be able to purchase cheap properties which will appreciate. In fact, Property Observer knows of one property advisor who actively keeps an eye out for new galleries as an early indicator of a gentrifying suburb.
Either way, it seems there's now a definitive checklist for neighbourhood undergoing gentrification, put together by <a href="https://ny.curbed.com/tags/gentrification-watch" target="_blank">Curbed</a>.
<img src="/images/2015/01/06/tweet-jan-6-one.jpg" alt="">
Although the list is based on American experiences of gentrification, those of the Property Observer team who live in the inner city reckon it looks about right. What does your suburb score?
</body></html>

Tweet of the day: The gentrification check list

<html><body>
The High Court of Australia has sided with the Commissioner of State Revenue in a stamp duty disagreement over Docklands developments.
In the decision, made last month, the High Court ruled that the Commissioner was entitled to reference the entire value of a development agreement, rather than just the sales contract value, when assessing stamp duty payable.
Developer Lend Lease made an agreement with VicUrban in 2001 to purchase Docklands land parcels, with Lend Lease to develop and sell large residential and commercial properties on the land. Both Lend Lease and VicUrban agreed to contribute infrastructure, including a bridge, a park and a road extension, on and around the land.
Under the development agreement, Lend Lease was required to pay additional amounts to VicUrban beyond what was outlined in the sales contract. The additional payments included compensation for infrastructure and remediation, as well as a portion of proceeds received by Lend Lease when they sold properties on the land.
Lend Lease objected to the Commissioners assessment of the stamp duty payable, which referenced the entire quantity paid by Lend Lease as part of the development agreement. The developer argued that the consideration paid for each parcel of land only included the amount specified in the sales contract.
However, the High Court disagreed. In the decision, reference was made to a dispute in 2005 between Dick Smith Electronics and the Commissioner. In that case, the majority held that the total consideration included the buyer's execution of several promises outlined in an agreement which contributed to the overall sum, as the vendor would not have transferred the asset (in that instance, a bundle of shares) if the buyer hadn't taken those actions.
After the Commissioner disallowed Lend Lease's initial objections to his assessment, Lend Lease launched an appeals process which saw the High Court ultimately agree with the Commissioner's assessment. Lend Lease has stated that it respects the High Court's decision.
</body></html>

High Court rules stamp duty consideration extends beyond sales contract value

<html><body>A warehouse and office space in Clayton, Victoria secured $675,000 when sold by Ray White Commerical. The 757 square metre property, with 580 square metres of floor space, was purchased by a local investor. It sold through Ray White Commercial Oakleigh's Paul RIzzo and George Kelepouris. Kelepouris said the property was located in Clayton's industrial precinct. “Properties within this industrial pocket rarely come to market so we weren’t surprised by the significant turnout of prospective buyers and bidders at the auction,” said Kelepouris. “The property is less than 20 kilometres from Melbourne’s Central Business District and is an excellent and convenient location with easy access to Wellington Road, Westall Road, the Monash Freeway and Eastlink.” The two storey office has a kitchenette and an adjoining warehouse.</body></html>

Clayton standalone warehouse sells

<html><body>
Are you energetic, with a sense of humor?
In a long-term couple, family duo or have an "enduring friendship" with someone who knows their way around a construction site?
Most importantly: are you willing to take home nothing but a "nominal weekly fee" if it all goes pear shaped?
If so, you might qualify for the next series of The Block. 
Potential Blockheads have until 6 February to apply for the series, and successful applicants will begin manically shopping for pendant lights and colour-matched art in April. The first episode will see some contestants eliminated before the competition proper begins.
In your application, you'll need to provide details of your citizenship status, your criminal record, your height (in centimetres, please) and your home. You'll also have to describe your would-be team mate in one word (and in many).
Who's the first to make up when you fight? What would be your 'theme song'?
Lest you think it's all about the human drama, the producers are not just interested in your relationship.
What's your design style? What influences and inspires your design? (websites, magazines, designers, periods)? It's unclear whether hopefuls should name drop Neale Whitaker's former employer, Belle Magazine, or his latest, Vogue Living. However, if past seasons are anything to go by, contestants should answer the former question with something vague but boring like "classic with an edge", "minimalist with a twist" or "clean with a splash of colour".
Applicants are asked to provide photos of themselves and their home or homes, and a five minute video.
Meanwhile, filming is well and truly underway for The Block Triple Threat, and marketing is ramping up. This week, the imaginative and current Channel 9 released ads comparing bearded contestant Ayden to "that guy from The Hangover".  Just think – after an online application, this could be you.
<a href="https://www.9jumpin.com.au/show/theblock/glasshouse/latest/week-11/are-you-australias-next-ultimate-blockheads/" target="_blank">Click here to apply.</a>
{qtube vid:=jBCAgaxda5A}
</body></html>

Calling would-be Blockheads: The Block now taking applications

<html><body>
Mortgage comparison website Finder has released an online tool to assist those attempting to keep their New Year's resolutions.
In a study commissioned by Finder, around 45% of respondents surveyed had made a New Year's resolution. According to the study results, two in every three people who make a New Year's pledge don't succeed.
Three in four respondents believed that sharing their resolution helped them achieve their goals, leading Finder to develop an online pledging tool. <a href="https://www.finder.com.au/new-years-resolutions" target="_blank">The tool</a> allows people to share their financial, travel, business and fitness goals, among others, on social media. It also delivers reminders for those who tend to forget their resolutions early in the year.
</body></html>

Finder launches New Year's resolution tool

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