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Apartment towers around transport nodes are needed to cope with Sydney's growing population, according to property development industry group Urban Taskforce, who advocate 5,000 new towers for Sydney.
Urban Taskforce chief executive Chris Johnson claims that Sydney needs to double the number of currently existing homes over the next 50 years, and has proposed clustering apartment towers around railway stations and transport hubs.
The industry group estimates that about one third of Sydney's projected growth could live in towers around transport hubs, which Johnson claims could protect many low rise suburbs.
"The other two thirds of the future growth would occur in fringe development, lower rise medium density near centres and large redevelopment sites," he proposes, noting poor public sentiment around apartment towers.
“Currently many community groups, political representatives and planners in councils have developed a negative attitude to towers preferring to favour town houses or detached houses. We must swing the discussion around to support for towers when they are close to transport," Johnson says.
"A 12 storey tower uses far less land than the equivalent number of houses spread across the landscape. To house the same number of households in detached houses would require 30 times as much land as placing the homes in a 12 storey building."
According to Johnson, Sydney is approaching its spacial limits, a locating "thousands of apartment towers" along the city's main rail lines would help make a metro rail system feasible.
He cites apartment towers developed by Urban Taskforce members Winten Property Group, Deicorp and Meriton as "excellent examples of towers related to transport".
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jrichardson-uRX5hFdKfN

New Sydney towers should be built around train stations: Urban Taskforce

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Last night's episode of Location Location Location Australia showed two couples who were struck with purchase paralysis. 
Buyer's agent Veronica Morgan was tasked with helping out salesman and soccer coach Gary and his wife Anna, who are keen to buy in Sydney's hills district and expand their living space after the arrival of a new baby.
Watching Sydney's prices skyrocket over the past few months but failing to find their dream home, their budget has moved up from $750,000 to $900,000 in just six months. 
The couple were hoping for a three bedroom brick home in Sydney's hills district, close to Anna's family, with room for outdoor entertaining. 
First, Veronica took the pair to Baulkham Hills, just five minutes' drive from Anna's sister's house. They inspected a four bedroom house with a $730,000 price guide. Though the home is a little small, Veronica had plenty of ideas for renovations which would open up the house's living spaces. 
But there were a few too many problems with the property, including pokey bedrooms and a lack of storage space. Despite its good location, Gary thought the required renovations would have the couple overcapitalising on the property. 
Next stop is the nearby Bella Vista in Sydney's north west, a location Garry and Anna were happy with. They inspect a four bedroom Mediterranean style home, with formal living and dining rooms at the front and a family lounge area at the back, and an open plan kitchen and dining area. With a price guide of $900,000, it sat right at the top of the couple's budget, but they wouldn't need to spend much money on renovations (beyond moving a few dodgy ornamental pillars).
The home is large, but Gary had reservations about the "dated" nature of the home, the tiled floor and the nearby road. He was comfortable with going over the $900,000 budget to get the perfect home, but Anna wasn't so sure. 
To help the couple get more for their budget, Veronica took them to Castle Hill, slightly further away from the CBD. The L shaped house they inspected there is set on 890 square metres, and listed with a price guide of $790,000 plus - well within their budget. It had four bedrooms, a big private garden and a barbecue area and deck.  
Gary and Anna responded well to the property and decided to proceed to auction - at first. 
Yet again, the couple got cold feet and eventually decided not to bid on the property, which ended up selling prior to auction. 
In the end, Gary and Anna decided that they simply weren't ready to buy a home yet, especially in the current market. The couple were happy to wait it out and stay in their current home until the market cooled down. 
Article continues on the next page. Please click below.
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Meanwhile, Bryce Holdaway was busy helping out management accountant Rachel and personal trainer Darryl, who were hunting for a home in Melbourne's inner west.
The couple lived in St Kilda but were hoping to cross over to Yarraville to be close to their friends. 
They've had trouble finding the confidence to make the final decision to purchase a home, despite months of research. And the longer they waited, the more cautious the couple had become. 
Despite being first home buyers, Rachel and Darryl had a budget of $820,000, thanks to a strong savings plan. They wanted a three bedroom house in Yarraville, on a large block. 
Bryce took them to look at an Edwardian weatherboard in Yarraville, close to the station and village, with three good sized bedrooms at the front of the house, an eat-in kitchen and a separate studio at the back of the house.
Like Gary and Anna's first prospective home, it needs a bit of work, but had a price guide of $620,000, well below their $820,000 budget. 
Darryl and Rachel had subdivisions on their mind, as part of their long term investment strategy. Unfortunately, though the first Yarraville home has the backyard they wanted, it's not big enough for a future subdivision. 
So Bryce pushed them a bit further out to Footscray, where there are plenty of character houses on bigger blocks. There, they inspected a double fronted cottage on a 420 square metre block, with side lane access - plenty of subdivision potential.
The cottage came with a price guide of $700,000 plus, and the couple are keen on the home's high ceilings and period features. Unfortunately, although the subdivision potential is attractive, the location compromise and the home's layout weren't to Darryl and Rachel's liking, so it was back to the drawing board for Bryce.
He tried again with a Newport home on a 290 square metre corner block (pictured below). The weatherboard cottage has three bedrooms - two at the front and one at the back. Its kitchen and bathroom have been renovated and are a decent size, and it came with a $730,000 price guide.
<img src="/images/2014/09/03/jas.jpg" alt=""> Despite their enthusiasm and stringent savings plan, the couple had stalled time and time again at the purchase point. With a strict idea of how they should use their hard earned savings, it looked like they were about to do the same with the Newport home, despite its advantages.
But after a second look, the couple feel ready to part with their cash and jump in. Unfortunately, despite finally letting go of their reservations and even building in a little bit of a buffer, they are outbid at auction, with <a href="https://www.realestate.com.au/property-house-vic-newport-116799911" target="_blank">the Newport home</a> snapped up for $829,000 by a competitor.
In March last year, the home was advertised to rent at $500 per week, equating to a 3.1% yield if rents have stayed constant.
Although they didn't secure the house, it seems that Bryce managed to bust through their buyer's block, with Rachel and Darryl determined to continue the search for a new home. 
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Location Location Location: Beating buyer's block

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Tonight's episode of Location Location Location Australia will see two couples who have forgotten the old adage: "Strike while the iron is hot".
Buyer's agent Veronica Morgan is assisting salesman and soccer coach Gary and his wife Anna, who are keen to buy in Sydney's hills district. They have a young baby, and are finding their current house pretty cramped after her arrival. 
The couple are finding it difficult to assess property values after watching Sydney's prices skyrocket over the past few months. As a result, in six months their budget has moved up from $750,000 to $900,000. 
Sydney's competitive market has left Gary and Anna lamenting their poor timing. They're hoping for a three bedroom brick home in Sydney's hills district, close to Anna's family, with room for outdoor entertaining. 
Meanwhile, Bryce Holdaway is helping out management accountant Rachel and personal trainer Darryl, who are hunting for a home in Melbourne's inner west. 
The couple live in <a href="/news">St Kilda</a> but are hoping to cross over to <a href="/news">Yarraville</a>, to be close to their friends. 
They've had trouble finding the confidence to make the final decision to purchase a home, despite months of research. And the longer they wait, the more cautious the couple becomes. 
Rachel and Darryl have a budget of $820,000, and want a three bedroom house in Yarraville, on a large block. This week, Bryce and Veronica will have to help the two couples take the final step into the property market, before they get left behind.
Location Location Location Australia airs Tuesday night at 8:30pm on the Lifestyle Channel.
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Location Location Location preview: Two couples with purchase paralysis

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Commonwealth Bank, ANZ and Westpac have all cut the interest rates on their fixed home loan products this month.
Westpac lowered the rate on its three year fixed rate home loan by 5 basis point to 4.94% with a package discount, while Commonwealth Bank made a 15 basis point cut to its three year fixed rate loan to the same rate.
The lender also dropped the rate on its four year fixed loan by five basis point, to 5.09%.
In August, NAB left their three year fixed rate loan unchanged at 3.94%. The ANZ has matched the big four on their three year fixed products.
According to comparison website Mozo, ME Bank and Newcastle Permanent offer the lowest rates on a three year fixed loan, offering a 4.59% interest rate.
The largest change to a three year fixed loan came from B&amp;E Personal Banking, which trimmed its rate by 40 basis points to 5.19%, and Arab Bank, which cut its rate from 5.29% to 4.9%.
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Lenders cut fixed rates in August as cash rate remains on hold

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The Reserve Bank of Australia (RBA) has chosen to leave the overnight cash rate at 2.5% for September.
Australia's cash rate has remained at the record low level since August 2013.
The RBA's decision to leave rates on hold was widely anticipated by industry members, with <a href="/expert-insights/finance/experts-predict-no-interest-rate-change-tomorrow-finder">all 25 experts surveyed by Finder this month</a> predicting that rates would remain unchanged.
John Caelli, general manager of markets at ME Bank predicts that rates won't change until next year.
“The next change is likely to be a rate rise of 25 basis points in the first half of 2015. It’s likely rates will be lifted to less than the normal levels of the past, closer to 4% than 5%," says Caelli.
According to RP Data research director Tim Lawless, the RBA is likely to keep rates at 2.5% in the coming months.
"With inter quarter measures of inflation indicating consumer prices aren’t rising rapidly, it is likely that the RBA will continue to hold interest rates at their current level for the foreseeable future," predicts Lawless.
"With this week marking the beginning of spring, the housing market will come under increased scrutiny to see if the seasonal surge in spring listing numbers is accompanied by an uplift in mortgage demand and buyer numbers.
"The latest indicators show that vendors remain firmly in the driver’s seat, with auction clearance rates averaging in the high 60% to low 70% range week on week and private treaty sales continuing to show a reasonably rapid pace of sale," he notes.
The Real Estate Institute of Australia's president Peter Bushby believes that given July's unemployment rate rise from 6.0% to 6.4% on a seasonally-adjusted basis, low interest rates need to continue to stimulate confidence among buyers.
“Fears around unemployment are a major contributor to a decline in confidence amongst first home buyers,” Bushby says.
"According to Genworth, the First Home Buyer Confidence Index slipped from 85.0 in September 2013 to 82.3 in March 2014 – the lowest level since 2007 – with uncertainty about future employment being given as the biggest barrier to buying a first home after affordability and the deposit gap."
Kirsty Lamont, director of banking and insurance comparison website Mozo, predicts that rates will stay on hold for the rest of the year.
"A total of 56 lenders have slashed their fixed rates since CommBank kicked off the rates war in late July, and the dust has now settled. We've now hit the bottom of the current fixed home loan rates cutting cycle," Lamont says.
"The rates on the market right now are as good as they're going to get this year, so if you're thinking about fixing now is definitely the time to do so."
According to Lamont, 56 lenders have decreased their fixed rate home loans since 23 July.
Photo courtesy of Newtown grafitti/<a href="https://creativecommons.org/licenses/by/2.0/" target="_blank">Creative Commons</a>.
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RBA leaves rates unchanged for 13th month

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Today Urbis released its quarterly Brisbane Apartment Insights report, detailing the changing conditions and trends affecting Brisbane's inner city apartment market.
Property Observer spoke to Urbis' national director of residential Jon Rivera about what's driving growth in Brisbane's apartment sector and what this means for the property market. 
What are some of the growing trends in Brisbane's inner city off the plan apartment market?
We've never really seen this much activity in Brisbane.
It's a pretty exciting time for Brisbane, with this level of development and also infrastructure growth, through masterplans and government infrastructure. 
Brisbane is growing very quickly, from a demographic point of view. Nationally, there are some major changes happening right now in the residential market, and we're seeing new fundamentals emerging. 
What demographic trends are driving the growth of the inner-city apartment market? 
The residential market is built off two major demographic groups: the 25-30 year old bracket, which is very large and growing significantly, and baby boomers.
They're very complex groups, so I normally hate to say "Gen Ys and baby boomers". But they are major demographic groups in the residential market. 
We're seeing major changes in the type of properties that they're looking for. The trade off they have to make to cope with the cost of living is definitely having some implications for demand.
We're also seeing changes in infrastructure and where that's being invested. We're seeing much less urban sprawl and much more upwards development. It's cheaper to upgrade and put infrastructure in central areas where there's already a major population, rather than emerging regional areas. 
Where is apartment growth focused? 
The major development is happening is along corridors where there is existing infrastructure, or proposed future infrastructure. Running from <a href="/news">Wooloongabba</a>, <a href="/news">West End</a>, <a href="/news">South Brisbane</a>, coming through to the CBD and going into <a href="/news">Fortitude Valley</a>, <a href="/news">Bowen Hills</a> and going all the way up to <a href="/news">Hamilton </a>- that's where we're seeing a lot of supply and demand.
These emerging developments are all still fringe based. The CBD is probably undersupplied - it's got a few developments on their way, but it predominately the growth is in the fringe areas. 
For apartment developers, there were better opportunities in the fringe. In South Brisbane, there was very little supply, and it made perfect sense to develop because the infrastructure was already there. The same was the case in Fortitude Valley. 
Is there a threat of oversupply in the Brisbane apartment market?
There are a couple of things we need to get clear on in terms of apartment development from a supply point of view. We often talk about 23,000 apartments in the inner Brisbane market, which are either in the application, presale, or approvals stages, but you can't look at thin air.
We care more about settlement, which has been pretty fragmented. There is a lot of stock coming through the off the plan through to the end fo 2015. It's a very hot market, but it really is about that settlement.
Rents are definitely aligning. They're starting to move away from the inflation period we had that was created on low supply. That, to me, is saying that developments are doing what they should.
2015 is definitely going to be very competitive for the off the plan apartment market. We're probably going to see a lot of developers not get off the ground, which is going to affect supply.We look at a lot of these developers playing in Brisbane and to be honest, there are some that have not proven themselves yet.
There are still a lot of challenges when it comes to taking that glut of supply and making it a tangible product. 
At the moment, there are going to be areas that are going to have some fluctuations, which always happens. We're going to need continued population growth, through migration and international students, which are very important to Brisbane's inner city rental market.
Brisbane is also very closely related to what's happening in Sydney, and prices are obviously high there, which may drive demand for Brisbane.
The one thing that we definitely know is that we're going to see more renters come through.
The cost of living is unfortunately not getting any easier. In Australia, the employment opportunities are very centralised. The infrastructure is very challenging as we go further out, and in the capital markets, the 15 kilometre to 20 kilometre ring from the CBD is very difficult market to get into for young buyers. 
The ability to own their own home is a big trade off for younger people - if they buy further out, that's going to cost them more in terms of fuel. Thats why we're looking at the apartment market. Sure, supply is coming through, but the challenges facing buyers and the demand growth is here to say.
It will go through the fluctuations, and developers are great at getting a good thing while they can, and then we'll see a correction.
How will the influx of new apartments affect Brisbane's rental market?
We are hearing that rents are softening. 
The owner occupier market is really taking an effect on the existing apartment market and the more mature stock on the market, taking that away from renters. So the new apartment market is obviously catering to renters.
Rents have been quite inflated, so we have a buffer. Now, we can make things align, and it's getting a bit better from an affordability point of view. The time to fill an apartment is growing, but still pretty good. Instead of one week, it'll take a month or two months to fill an apartment.
To me, this is a normal thing, and means developers are doing their jobs. 
Historically, December always seems to have a lot of vacancies, and so does the March quarter because it includes January. In June it always comes back again, to around the 3% mark. 
There are going to be pockets where there are going to be some realignment in rentals, which I think is positive. It's a good thing for the renter, who can see what amenity they get for their dollar. There's going to be some good choice there, and affordability will improve. That's a good thing.
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Brisbane's inner city apartment market: Q&A with Urbis' Jon Rivera

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A three bedroom, two bathroom unit sold for $3.5 million this week. According to RP Data, the first floor unit  in the former Royal Hospital for Women (pictured above) is the most expensive property to sell in the past week. This week's top end sales were dominated by Sydney offerings, with only one property in the top 10 sales located in Melbourne. The top 10 sales of the week, from RP Data:
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<li>
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-paddington-nsw-2021/201206" target="_blank">4/18 Flinton Street, Paddington, NSW </a> <img src="/images/2014/09/02/1.jpg" alt=""> The first floor apartment in Paddington Green sold for $3.5 million through McGrath Estate Agents. One of 10 apartments in the complex, which was converted in 2000, the residence features three covered verandahs where the buyers can enjoy views of the city, the harbour and the complex's gardens. The apartment includes substantial north facing living and dining areas, with 4.1 metre ceilings. It was recently advertised for rent at $2,800 per week. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-rose+bay-117574299">30a Beresford Road, Rose Bay, NSW </a> <img src="/images/2014/09/02/2.jpg" alt=""> This three bedroom, two bathroom Rose Bay house sold for $3.35 million through Laing + Simmons. The French Rivera inspired home features limestone entertaining areas and a leafy garden. With a northerly aspect, the house has a large living room, a separate formal dining area, a master bedroom with a walk-in robe and two queen sized bedrooms. The property last traded for $810,000 20 years ago. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-dee+why-116721671" target="_blank">11 Summit Avenue, Dee Why, NSW </a> <img src="/images/2014/09/02/3.jpg" alt=""> A contemporary home with panoramic ocean views secured $2.85 million through Belle Property this week. The five bedroom, three bathroom offering sits on a 588 square metre plot at the end of a cul de sac. The house's living room opens to a covered deck and enclosed lawns, with a separate dining area. Upstairs, there is a family room that flows to an entertaining terrace with a north-easterly aspect. The vendors purchased the home for $1.43 million in 2009, with the property doubling its sales price in just five year. 
</li>
<li>
<a href="https://www.propertyobserver.com.au/https://www.raineandhorne.com.au/doublebaybondibeach/properties/151453" target="_blank">3 Lord Howe Street, Dover Heights, NSW </a> <img src="/images/2014/09/02/4NEW.jpg" alt=""> This five bedroom home on a 520 square metre corner block fetched $2,836,000 when sold through Raine &amp; Horne Double Bay this week. Situated one street from oceanfront parkland, the home has an open plan living area which opens directly to the outdoor entertaining space and swimming pool. The two storey home has four bedrooms on a single level, all with built in robes. It was purchased for $2.55 million in May 2011. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-vic-brighton-117730195" target="_blank">29 Normanby Street, Brighton, Vic </a> <img src="/images/2014/09/02/5.jpg" alt=""> A four bedroom Brighton house was the only Victorian home to make RP Data's Top 10 this week, selling for $2.8 million through Hodges Brighton. The two storey home on a 702 square metre plot is situated on the northern side of Normanby Street, within walking distance of Brighton Grammar School and the Royal Brighton Yacht Club. It has multiple interior living spaces including a home office which overlooks the pool and spa. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-mosman-117578795" target="_blank">29 Cowles Road, Mosman, NSW </a> <img src="/images/2014/09/02/6.jpg" alt=""> After 37 years in the same family, this house sold for $2.8 million this week through McGrath Estate Agents. The five bedroom, three bathroom house retains many heritage features, including ornate ceilings and original floorboards and fireplaces. French doors open to the home's gardens, which lead to a courtyard with a louver roof and a pool. The home also includes an underfloor wine cellar. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-mosman-117714839" target="_blank">24 Pearl Bay Avenue, Mosman, NSW </a> <img src="/images/2014/09/02/7.jpg" alt=""> The second Mosman home to make this week's top 10, this four bedroom, two bathroom house sold for $2.75 million. Set on a 601 square metre block, the house is situated 150 metres from The Spit Reserve, and is close to Beauty Point Public School and Balmoral Beach. The rear of the north facing house opens to a pool and spa area, with another outdoor entertaining area located at the side. The vendors purchased the property for $2,095,000 in 2002. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-castlecrag-117570239" target="_blank">34a The Bulwark, Castlecrag, NSW </a> <img src="/images/2014/09/02/8.jpg" alt=""> Richardson &amp; Wrench Castlecrag sold this home for $2.7 million. The multi-level home with Middle Harbour views has four bedrooms with an en suite and walk in robe for the main, and a study or additional family room. The home's central feature is its chefs kitchen, and the home also includes multiple entertaining terraces. This is the first time it has changed hands in 12 years. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-dover+heights-117513239" target="_blank">75 Hardy Street, Dover Heights, NSW </a> <img src="/images/2014/09/02/9.jpg" alt=""> This three bedroom, two bathroom double brick house sold for $2.6 million through Raine &amp; Horne Double Bay after being held for 45 years. The art deco influenced corner block home has full northern exposure and offers views over Sydney's skyline and the harbour. A prominent curved front portion of the house holds a sunroom on the ground floor and a sitting room on the upper floor. The house's granite kitchen overlooks the backyard pool. 
</li>
<li>
<a href="/expert-insights/buying/the-second-millers-point-offering-fetches-2-56-million-for-state-government-housing">29 Lower Fort Street, Millers Point, NSW</a> <img src="/images/2014/09/02/10.jpg" alt=""> The formerly state-owned terrace house at Lower Fort Street earned a $2.56 million sum for the New South Wales government when sold through Di Jones Real Estate. The Colonial Regency style home was built in 1834 and offered for first time in a century, according to the listing information. The five bedroom heritage listed townhouse was the second of the state government's Millers Point sales.</li>
</ol>
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Paddington unit tops this week's most expensive sales: RP Data

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Monday's episode of The Block will show buyer's agent and The Block regular Frank Valentic guide his clients through the show's partially completed apartments.
Judges Shaynna Blaze, Neale Whitaker and Darren Palmer have shared their thoughts on "luxury" bathrooms, copper clad bedrooms, and unfinished rooms on The Block Glasshouse, but now it's time to hear from the people who really matter - potential buyers.
Viewers may remember buyer's agent - <a href="/expert-insights/investing/the-top-10-melbourne-hotspot-suburbs-frank-valentic">and Property Observer contributor</a> - Frank Valentic from previous seasons of the show. The agent successfully bid on the most expensive property offered last season, securing Chantelle and Steve's apartment <a href="/expert-insights/buying/the-buyers-behind-the-block-fans-v-faves">for $2.47 million</a>.
It will be interesting to see if Valentic's clients agree with the judges. Last season, rookies Steve and Chantelle beat out the other teams, despite consistently receiving negative reviews from the judges.
Contestants Michael and Carlene will be hoping that the buyers like their apartment as much as the judges have - the couple has received high marks every week, and finally secured a win with their staircase, laundry and guest powder room.
The judges were fans of their light timber stairs, which contrasted with their dark blue wall. They were also praised for their sensible and safe staircase, with multiple landings and a hand rail (pictured below).
<img src="/images/2014/09/01/mcstairs.jpg" alt="">
The laundry was a less family friendly affair - in a good way, according to the judges (pictured below). Shaynna called the powder room, with a bronze mirror, gold details and matte grey cabinetry, "sexy", full of "terrific details". Michael and Carlene received 28 out of 30 from the judges.
<img src="/images/2014/09/01/mlaundry.jpg" alt=""> Former wunderkinds Chris and Jenna were not so lucky. The couple has well and truly fallen from grace, with the third week in a row of poor comments from the judges.
This week, they were slammed on everything from their planning to their materials. Their heavy black bannisters, yet another attempt to reference the structural details of their apartment, was derided by all three of the judges (pictured below).
<img src="/images/2014/09/01/cj%20stairs.jpg" alt=""> Their laundry room and powder room was unanimously considered a failure, with an unfocussed and confusing array of materials: from small grey tiles with white grouting to glossy black laundry doors, via cheap white cabinetry (pictured below). They were awarded 20 points out of 30.
<img src="/images/2014/09/01/cjlaundry.jpg" alt=""> Maxine and Karstan, who had their confidence boosted by their first win last week, delivered a staircase that was deemed a little dated by the judges.
The glass bordered stairs, with no handrail, was called unsafe and impractical - and it wasn't redeemed by its looks (pictured below).
<img src="/images/2014/09/01/mk%20stairs.jpg" alt=""> With black timber steps and backlit wine storage under the stairs that was coupled by a polished aluminium kickboard, the entire area looked positively '90s.
When it came to the couple's laundry and powder room (pictured below), Neale felt "wholly ambivalent". The judges agreed that the area probably won't upset any potential buyers, but was unlikely to wow them either. Max and Karstan received 23 points.
<img src="/images/2014/09/01/mklaundry.jpg" alt=""> Brothers Simon and Shannon were back in everyone's good books this week, with a staircase that "plays as a piece of sculpture", according to Darren (pictured below). Neale noted the boys' "amazing sense of confidence".
<img src="/images/2014/09/01/ssstairs.jpg" alt=""> In the powder room, they presented a wide variety of surfaces - with glazed penny rounds, glossy black cabinetry and matte grey tiles (pictured below). Shaynna said the combination was "balanced", though she certainly didn't think the same of Chris and Jenna's material overload. The boys fared a good deal better, with 27 out of 30.
<img src="/images/2014/09/01/sslaundry.jpg" alt=""> Lastly, Darren and Deanne presented unfinished spaces after major setbacks with their staircase (pictured below). Darren Palmer had a wobbly attempt up the stairs but quickly retreated - though it seems Valentic's buyers are a little more fearless, with tonight's episode preview showing the buyers braving the ascent.
<img src="/images/2014/09/01/ddstairs.jpg" alt=""> Though Darren and Deanne lost major points for failing to finish a room, they still received some compliments on their wall panelling and drying rack and earned 17 out of 30. Their laundry is pictured below.
<img src="/images/2014/09/01/ddlaundry.jpg" alt=""> This week, the teams will complete their kitchens.
All pictures courtesy of Channel 9.
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Will buyers agree with the judges on The Block?

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Civil construction has begun on the sixth stage release of the $50 million My Home and the River estate in Queensland's Logan Village.
So far, the project has made about $25 million in sales, with most sales from locals who live within 30 kilometres of the Logan Village township. Three lots from the previous release are still unsold.
According to project co-developer and sales manager Geoff Kerkow, six contracts for lots in project's sixth stage have been issued.
<img src="/images/2014/09/01/Geoff%20Kerkow%20-%20My%20Home%20and%20the%20River%20project%20co-developer%20and%20sales%20manager.jpg" alt="">
Photo: Project co-developer and sales manager Geoff Kerkow. Source: Supplied.
“Our buyers are moving from more suburban areas to semi-rural Logan Village as the community has become more established,” said Kerkow.
“People recognise that they are not losing anything by moving here because they can still access quality education, medical and retail services while enjoying a better lifestyle.
“The various benefits of living in a smaller community continue to be the major drivers of sales for us.”
The My Home and the River estate project is located 41 kilometres south east of the Brisbane CBD, and about 16 minutes from Logan Central.
<img src="/images/2014/09/01/River%20view%20from%20estate%20press%20res.jpg" alt="">
Photo: River view from estate. Source: Supplied.
The home sites in the Stage 6 release are situated opposite established park lands and walking trails, with prices starting at $249,000 for an 840 square metre block.
My Home and the River was launched in 2011 by a local syndicate. Upon completion, the project will have 272 homes adjoining 30 hectares parkland.
Logan Village, one kilometre from the estate, is serviced by a Bendigo Bank branch, a Woolworths supermarket and a range of cafes, with medical and professional services. In 2011, Logan Village had a population of 3,586 people. 
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Sixth stage of Logan Village estate launches

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All 25 experts surveyed by finder.com.au expect the Reserve Bank of Australia (RBA) to keep the overnight cash rate on hold this month.
The RBA has held the cash rate at a record low of 2.5% since August last year. More than half of the experts surveyed predicted that the next interest rate change will come in the second half of 2015, including Property Observer's Jonathan Chancellor.
Only one respondent, Nicki Hutley of Urbis, expects a rise as early as December this year.
“The Australian economy is still seeing growth a little below par," said Hutley. "Inflation is picking up but not yet alarmingly so... so the RBA won’t be in any hurry to move."
"A first rate rise is likely to occur either in December or the new year," she told <a href="https://www.Finder.com.au" target="_blank">Finder.com.au</a>. Of the 25 respondents, 10 surveyed expected an increase would come in the first half of 2015.
The experts surveyed include representatives  from AMP, ANZ, Bank of Queensland, Moody's Analytics and Commsec. James Bond of the Financial Services Council said uncertainty in recent economic indicators will see the RBA hold rates.
"The RBA will wait to see how employment and wages pan out over the next six months before they make a move either way," said Bond.
"The usual tightening cycle that we would expect has been pushed out by uncertainty in the some of the data.”
Janu Chan of St George Bank also believed that the RBA would wait for more solid evidence of an economic recovery.
"The RBA will probably want to see some stronger evidence that the recovery is strengthening before they raise interest rates," Chan said.
"We think the RBA is done cutting rates so the next move we expect will be a hike."
ING Direct's Michael Witts predicted a 25 basis point increase in the first six months of 2015.
"The Bank is trying to balance the strength of the housing and related sectors," said Witts.
"Equally it is mindful that any near term move in interest rates will see the Australian dollar move higher."
To see each expert's prediction, go to the next page.
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Source: finder.com.au
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Experts predict no interest rate change tomorrow: Finder

The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Joel Robinson

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

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>

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 

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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.
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[smartcode_project_cta:default project_id=112661]

Jessie Richardson

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