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A 350-apartment development is coming to Brisbane's inner north.
The Arden Group has launched Jade, a $200 million master planned community set on 1.4 hectares by Ascot, Clayfield and Hamilton. The first sales stage will comprise 150 apartments over two six storey buildings. The first, called 'Sage', will have 60 apartments, while 'Fern' will have 90 apartments.
With completion expected in late 2015, the development will offer one, two and three bedroom apartments, ranging from 60 square metres to 160 square metres. Off the plan prices begin at $392,000, with the most expensive three bedroom apartment costing $990,000. Prices for the 24 three bedroom apartments begin at $670,000.
According to Arden Group director Steve Walsh, the development is located in a rapidly growing lifestyle market.
"Jade’s convenient location less than 10 minutes from Brisbane’s CBD and airport as well as its close proximity to Brisbane’s best urban restaurants and lifestyle precincts makes it an excellent choice for owner resident buyers,” said Walsh.
“High quality, affordable apartment product in Albion is hard to come by due to the suburb’s highly constrained land supplies and we’re anticipating a lot of interest in this particular development.
There will be four towers in total at Jade, each six levels high, with construction expected to complete in December 2015.
“Apartments of this size are experiencing the highest demand in a decade, particularly for young professionals looking for convenience and empty nesters looking to downsize and remain within easy reach of the city,” said Walsh.
“Combined with the development’s competitive price points and more buyers being drawn to property in the area, we’re expecting a strong level of enquiry.”
Jade will include three "park-like areas", with two barbecue areas. There will also be a gym and pool with sun deck and spa. Each apartment will include at least one secure basement car park.
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jrichardson-uRX5hFdKfN

Arden Group launches $200 million Albion development

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Charles Farru-Hill and Robert Lawson have been newly appointed to lead Raine &amp; Horne Commercial Western Australia's property management arm.
Farru-Hill has been appointed to the position of associate director of Facilities and Commercial Property Management. Lawson has been appointed associate director of Commercial Property Management.
Farru-Hill currently chairs the Real Estate Institute of Western Australia's Commercial Real Estate Committee. He has worked for Raine &amp; Horne Commercial for about four years. Of his appointment, Raine &amp; Horne Commercial WA director Terry Menage said:
“Charles has added depth and experience to our growing property management portfolio, as well as providing ancillary facilities management services to the organisation.
“He is one of the few commercial property managers in Perth with the Green Building Council of Australia’s ‘Green Star Professional’ Accreditation, and he consults to commercial building owners and managers Australia-wide.”
Lawson has been with Raine &amp; Horne Commercial WA for a year. According to Menage, he has experience in sales, leasing and management, and he said Lawson's appointment "will bring additional drive and focus to Raine &amp; Horne Commercial WA’s expanding commercial management portfolio.”
“Our two new appointments both have blue-chip commercial property experience that encompasses sales and leasing, as well as significant management expertise,” added Menage.
“Charles and Robert are the ideal candidates to lead our property management team effectively and their experience enables them to provide the very best advice and solutions to our investors and business owners.”
Menage said tenant retention was a priority for the division.
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Raine & Horne Commercial expands WA team

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NAME: Nathan Blackburne<img src="/images/2014/07/30/nathan-blackburne-july-30-profile.png" alt="" style="float: right;">
POSITION: State manager Victoria and Queensland
COMPANY: Cedar Woods (ASX: CWP)
OFFICE LOCATION: 484 St Kilda Road, Melbourne
How long have you been in the industry? 
Over 20 years now. I graduated with a Bachelor of Business majoring in property in 1992 and have been in the property industry since then.
What’s happening in the area you specialise in? 
Development of premium residential and commercial projects is our specialty.
The market fundamentals are sound so we are getting good sales in our residential projects and good leasing outcomes for our shopping centre and commercial projects.
Several banks reduced interest rates further this week providing greater incentives for homebuyers to purchases. Five year fixed rates and variable rates are as low as they have ever been making the purchase of a property accessible to more people.
The influence of overseas developers and buyers has been dramatic for our industry. It has effectively increased the pool of buyers for apartments and house and land packages. For developments sites there is increased competition particularly if you are a CBD apartment developer, which we are not.
Describe the most interesting commercial property you have worked on?
I have worked on several great projects but I would have to say the experience with our <a href="https://www.williamslanding.com.au/" target="_blank">Williams Landing development</a> has been the most interesting and fruitful. It was a former Defence Airfield of 275 hectares that we purchased off the Commonwealth government.
This project is a major infill site that has a new freeway interchange and train station on its doorstep and we’ve created a vision for a major new town development that integrates with the train station and a series of four major neighbourhoods around it. It includes around 3,000 dwellings and has been an opportunity to create a special project.
When finished, Williams Landing will be home to around 6,000 residents and the town centre will serve as a premium commercial and retail hub for Melbourne’s west.
The project has been very financially successful, created good opportunities for innovation and enabled us to deliver a high quality outcomes that over 1,000 families are now enjoying.
What are the ingredients to being successful in your job?
There are a few things that I think are important in general management and property development. Having an eye for good people and ensuring that staff have an enjoyable work environment is the most important.
An instinct for good development sites and concepts is really important to sustained success in this industry as is undertaking acquisitions in a measured and disciplined manner. Related to this is the selection of sites that are resilient due to their location or other attributes. This is important as long term projects need to perform well in a range of market conditions.
I also work to ensure we don’t stray from the corporate strategy and that we stick to what we do best.
The quality of the portfolio we have is evidence of this.
What aspects of your role do you enjoy the most? 
There’s lots to like about property development and general management - each day gives rise to new challenges and it’s a people focused industry so you are always interacting. Watching new developments take shape and communities flourish, as in the case of Williams Landing, is rewarding.
I also enjoy watching staff build their skills and experience base and rewarding them with new responsibilities and roles as opportunities arise.
Where would you invest a spare $750,000? 
I would go with a residential purchase in a suburb that has good value growth potential and that is relatively well located in relation to a train station. The housing we deliver at <a href="https://www.banburyvillage.com.au/" target="_blank">Banbury Village</a> in Footscray is a great case in point.
 If there was some change left over, I’d buy something with similar credentials in a different location.
Which football team do you support?
West Coast Eagles
What’s your favourite app or techno gadget?
I’ve recently bought a Sonos sound system for my house and am enjoying wireless control of my music and an endless music choice with Spotify.
How do you use social media?
I’m an occasional Facebook user through which I stay in touch with far away friends back in Perth or overseas. I find that people are increasingly making <a href="https://www.propertyobserver.com.au/https://au.linkedin.com/pub/nathan-blackburne/19/323/267" target="_blank">contact with me via LinkedIn</a>, which is useful to either maintain contact or get some background on a new contact.
From a company perspective, we’re now using Facebook for developments including Williams Landing to help develop online communities through sharing news, updates, events and being a part of the wider discussion.
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In profile: Cedar Woods' state manager Victoria and Queensland, Nathan Blackburne

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Five Squared Property Group has released the latest stage of its 475 lot master planned community in Doreen, Katandra Rise.
About 1,500 people are expected to live in Katandra Rise when it is completed. Ashley Lewis, the development and marketing manager at Five Squared Property Group, zoning changes as part of Plan Melbourne are expected to see an increase in development in the area.
Moving forward, it’s likely we’ll see more high density development in the area, so buyers are looking for the certainty that comes with a master planned community like Katandra Rise,” said Lewis.
Some of the City of Whittlesea, Doreen's local government area, has been converted to a Residential Growth Zone, allowing apartment and townhouse development, with building heights of over 13.5 metres.
According to Lewis, the group has seen a high volume of enquiries since community's latest sales stage, The Boulevard, launched earlier this month.
"Much of the interest has come from first and second homebuyers wanting an affordable white picket fence lifestyle and peace of mind knowing their home won’t be surrounded by apartments in ten years," he said.
He believes the level of interest indicates a strengthening market.
“Over the last couple of years, we’ve seen buyers sit tight because of economic uncertainty, which meant it could take up to a year to sell each release. We’re extremely encouraged by the initial response we’ve had at this early stage and expect to sell out easily by Easter next year," said Lewis.
Katandra Rise features a new community garden, with 12 individual plots, one communal plot and a garden shed, managed by the development group in conjunction with Doreen Primary School.
“Community gardens are popping up across the city and providing a connection to nature and community that residents really value as space becomes increasingly tight,” said Lewis.
“Buyers to Katandra Rise love the idea of having access to the garden - it’s already playing a large role in helping to foster a strong community spirit.”
Six of the development's 37 hectares will be dedicated to open space, with bike paths, terraced play and picnic areas, and a playground.
Katandra Rise's fourth land release, The Boulevard comprises 22 home sites at the bottom of Katandra Rise hill. Elevated home lots range from 375 square metres to 603 square metres, with frontages ranging from 12.5 metres to 16 metres. Land is priced from $174,500 to $234,500. Construction on the stage will begin next week, with completion expected for December this year.
The development is located 500 metres from the Doreen Town Centre.
Click to open in new window.
<a href="/images/2014/07/30/0305769r02_FIVE_Katandra_Rise_Master_Plan_940px_x_555px.jpg" target="_blank"><img src="/images/2014/07/30/0305769r02_FIVE_Katandra_Rise_Master_Plan_940px_x_555px.jpg" alt=""></a>
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New release from Doreen masterplan development

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One of Australia's biggest property lobbies has called for an end to stamp duty, claiming that the move will create a more mobile workforce.
The Property Council of Australia (PCA) has commented on the latest report from the Business Council of Australia, the Building Australia's Comparative Advantages report, which notes a need for higher mobility among workers.
According to the PCA's chief executive Ken Morrison, the report supports their call to end land taxes and stamp duties.
“Today’s report by the BCA reinforces what we have been saying for years – stamp duty is a ball and chain that deters many Australians from relocating for work," said Morrison.
"Workforce mobility is essential as the national economy transitions from the mining investment boom to a new phase of growth.
“As new areas become employment hubs, we need to make sure we have the right people in the right places and that means assisting Australians to relocate to where the jobs are.
“Unfortunately, there are many impediments to relocating, which makes an already daunting decision harder."
He cites stamp duty as a major deterrent to relocation.
“Stamp duty in particular not only increases house prices but means a significant loss of capital for many families seeking to move.
"For people already feeling the pinch, particularly those looking for work, the additional hit to savings of stamp duty costs makes the decision to relocate a last resort," he said.
“The Property Council has consistently argued that stamp duty is a handbrake on workforce participation and locks many Australians into housing and locations that do not suit their needs.
“Abolishing stamp duty is essential to encouraging greater productivity in our changing economy and must be considered as part of the Federal Government’s tax reform agenda," said Morrison.
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Time to abolish stamp duty: PCA

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Sales for new homes increased by 1.2% over the month of June and 2% for the June quarter, according to a survey conducted by the Housing Institute of Australia (HIA). 
The HIA New Home Sales Report shows that multi-unit sales were a major driver in the increase, up 15.9% for the month. Sales for new detached houses actually fell over June, dropping 1%, but were up for the quarter, according to <a href="https://hia.com.au/" target="_blank">HIA</a> chief economist Harley Dale.
“Detached house sales increased by 2.6% in the June 2014 quarter despite falling in the final month,” said Dale.
“That is a healthy note on which to finish the fiscal year.”
He noted that the results bode well for the domestic economy.
“The new home building sector will provide a healthy contribution to broader economic growth in 2014/15,” said Dale.
“As the recovery enters its third year, the magnitude and duration of the current new home building upcycle is less certain than would usually be the case at this juncture.
“The share of medium/high density construction is higher and there are considerable delays occurring in the availability of titled land for detached and semi-detached housing.”
Over June, sales of new private detached houses fell by 3.2% in New South Wales and 4.2% in Victoria, but were up in all other mainland states. Queensland saw private detached housing sales increase by 1.8%, while South Australian sales rose by 1.3% and Western Australia’s sales were up 2.2%.
On a quarterly basis, Queensland’s new private detached house sales increased by the greatest proportion, 6.6%. South Australia saw the biggest drop, with an 8.4% fall in sales for the quarter.
 
 
 
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New home sales up over June quarter: HIA

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With the latest season of The Block underway, we already know the contestants are in for a tough 10 weeks.
They'll be competing with junk, budgets and each other to convert a Prahran office block into five luxury apartments.
Here's what each team will be working with:
<ol>
<li>
Karlene and Michael 
<img src="/images/2014/07/18/michael%20and%20carlene.jpeg" alt="">
Image courtesy of Channel 9. Floorspace: 236.8 square metres
Aspect: Southerly Rundown: Though they have an undesirable position, Karlene and Michael have the second largest terrace on The Block. 
</li>
<li>
Chris and Jenna 
<img src="/images/2014/07/18/jenna%20and%20chris.jpeg" alt="">
Image courtesy of Channel 9. Floorspace: 277 square metres
Aspect: No external windows Rundown: To make up for their lack of external windows, Chris and Jenna have been given the biggest of the five apartments. They plan to place a tree in the three-level void of their home. They are also the only team to have a rooftop terrace. 
</li>
<li>
Karsten and Maxine 
<img src="/images/2014/07/18/karstan%20and%20max.jpeg" alt="">
Image courtesy of Channel 9. Floorspace: 237 square metres
Aspect: North-westerly Rundown: Karsten and Maxine's apartment has city views and a desirable aspect. The couple has already locked in real estate agents from Buxton Albert Park, who auctioned Brad and Dale's apartment last season. 
</li>
<li>
Simon and Shannon 
<img src="/images/2014/07/18/shannon%20and%20simon.jpeg" alt="">
Image courtesy of Channel 9. Floorspace: 249 square metres
Aspect: Southerly Rundown: The brothers have the second largest apartment of the bunch, overlooking Prahran's High Street, on the front right side of the building. 
</li>
<li>
Darren and Deanne 
<img src="/images/2014/07/18/darren%20and%20dee.jpeg" alt="">
Image courtesy of Channel 9. Floorspace: 186.7 square metres
Aspect: Northerly  Rundown: Though they have the best aspect of any of the apartments, Darren and Deanne have a lot less floorspace - 90 square metres less than Chris and Jenna, who have the largest apartment.</li>
</ol>
Each apartment will also have 70 square metres of basement storage and two carspaces. The ground level of the building will be devoted to retail space, with the second floor to house the two bathrooms and three bedrooms of each apartment.
The varying sizes of the apartments in The Block Glasshouse will no doubt spur plenty of interesting discussions over whether floorspace or aspect counts most in an inner city apartment, though as we saw in Fans v Faves, auction order could play just as big a role in the final result.
Photo at top of article courtesy of Channel 9.
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The Block Glasshouse: How do the five apartments compare?

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For those who think houses will always outperform units, this week’s top 10 most expensive sales might offer some food for thought.
It was a three bedroom unit that took out the top sale in the country this week, clearing the second most expensive home, a four bedroom house, by almost $4 million.
These are the 10 biggest sales of the week, from RP Data.
<ol>
<li>
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/2/3_loftus_road_darling_point_nsw_2027/16165997">2/3 Loftus Road, Darling Point, NSW</a>
<img src="/images/2014/07/29/1.jpg" alt=""> This three bedroom unit sold for $6.4 million through 1st City Hasemer and Caldwell.Eyes and LJ Hooker Double Bay. The full floor, 326 square metre, residence in The Bower was designed by JPRA and Collins Vanguard.
The luxury apartment has an en suite for each bedroom, a family room that extends to a wrap around terrace and 21 metre frontage to the harbour. 
</li>
<li>
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/4_roslyn_street_brighton_vic_3186/10020852">4 Roslyn Street, Brighton, VIC</a>
<img src="/images/2014/07/29/brighton-july-29-one.jpg" alt=""> This four bedroom house in the Melbourne bayside suburb of Brighton sold for $2.475 at auction through Nick Johnstone Real Estate Brighton. The contemporary two storey home has three bathrooms and a powder room and three living spaces. Outside, there is a solar heated pool and spa. The vendors purchased the house for $1.58 million just last year.
</li>
<li>
 <a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/23_beaufort_street_croydon_park_nsw_2133/2031134" style="line-height: 1.3em;">23 Beaufort Street, Croydon Park, NSW, 2133</a>
<img src="/images/2014/07/29/3.jpg" alt=""> 
In Croydon, a five bedroom house was sold for $2.19 million by Elders Inner West Enfield. The full brick home has a formal living and dining area with a curved glass wall, a casual meals and family room and a lift servicing all three levels of the house. It sits on a 614 square metre corner plot.
The vendors purchased the home for $1,275,000 less than a year ago. 
</li>
<li>
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/28_sevenoaks_street_balwyn_vic_3103/9568809">28 Sevenoaks Street, Balwyn, VIC</a>
 <img src="/images/2014/07/29/4.jpg" alt="">
Another five-bedroom house, Balwyn offering secured $2.16 million for the vendor through Bekdon Richardson and Hawthorn. In a prime school district, the house sits on a 797 square metre block. The house has multiple living spaces, including a formal living and dining room and open plan family areas, with a sandstone wrap around terrace and a glass enclosed pool and spa with its own private bathroom. The house was purchased by the vendors in April 2006 for $1.73 million.
</li>
<li>
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/18_tutus_street_balgowlah_heights_nsw_2093/1231539">18 Tutus Street, Balgowlah Heights, NSW</a>
<img src="/images/2014/07/29/5.jpg" alt="">
Sold on July 23 by Richardson &amp; Wrench Seaforth, this three bedroom house secured for $2.1 million. Adjoining a bush reserve, the house is set on a 701 square metre “gently undulating” plot with a North Easterly aspect. The house is a few minutes’ walk from Forty Baskets Beach. The house has been held by the same vendors for 23 years – they purchased it for just $262,500 in 1991.
</li>
<li>
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/38a_crescent_road_mona_vale_nsw_2103/4381359">38A Crescent Road, Mona Vale, NSW, 2103</a>
<img src="/images/2014/07/29/6.jpg" alt="">
This five-bedroom house was sold at auction on July 24 by L J Hooker Avalon for $2,095,000. Overlooking Pittwater, the house has interconnected living spaces around a central outdoor terrace and a pool. Despite making the top 10 list, the vendors made a loss on the sale – they bought 38A Crescent Road for $2.2 million in 2007.
</li>
<li>
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/1_francis_street_naremburn_nsw_2065/4728487">1 Francis Street, Naremburn, NSW, 2065</a>
 <img src="/images/2014/07/29/7.jpg" alt="">
McGrath Real Estate Agents sold this four bedroom, three bathroom house for $2,053,000. A few minutes away from St Leonards Railway Station, the single level home sits on a 727 square metre block. It has floorboards through the living areas which transition to a north-east facing deck. The vendors purchased the house five years ago, for $1.73 million.
</li>
<li>
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/116_fifth_avenue_windsor_qld_4030/8251326">116 Fifth Avenue, Windsor, QLD</a>
 <img src="/images/2014/07/29/8.jpg" alt="">
The only Queensland home to make the top 10 list this week, this house secured $2,005,000 when auctioned by Ray White Alderly. The four bedroom Queenslander has high cathedral ceilings and polished floorboards throughout. The property also features a salt water pool and three 3,000 litre water tanks on its 1,045 square metre plot. It was bought by the sellers for $1.14 million in November 2005.
</li>
<li>
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/1/3_drummoyne_avenue_drummoyne_nsw_2047/2124490">1/3 Drummoyne Avenue, Drummoyne, NSW</a>
<img src="/images/2014/07/29/9.jpg" alt="">
The second unit on this week’s list, this three bedroom Drummoyne offering sold for $2 million through Patterson Rizzo Biviano. The renovated townhouse has panoramic water views from its large entertaining terrace. The complex comes waterfront gardens, a pool and pontoon. The vendors purchased the townhouse for $1,515,000 in 2007.
</li>
<li>
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/17_castle_street_randwick_nsw_2031/5744260">17 Castle Street, Randwick, NSW</a>
 <img src="/images/2014/07/29/10.jpg" alt="">
This two storey four bedroom house sold through Phillips Pantzer Donnelley for $2 million. Close to Centennial and Queens Park, the modern home has a northerly aspect, a swimming pool and secure parking. All the bedrooms are on a single level, freeing up the other floor for living spaces. The home also has a saltwater plunge pool.
The sellers made a loss on this house. It was bought for $2.15 million in 2009.
</li>
</ol>
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Darling Point unit takes top place in the 10 most expensive sales of the week: RP Data 

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There are few topics that cause as much debate among property pundits and housing economists as Australia’s potential property bubble.
It’s a divisive topic. Those who say that we are experiencing a housing bubble are often labelled scaremongers, while those who consistently deny the presence of a bubble are accused of spruiking.
Philip Soos is an economist and post graduate candidate at Deakin University. He has recently co-authored <a href="https://www.worldeconomicsassociation.org/files/Bubble_Economics_Egan_Soos.pdf" target="_blank">Bubble Economics: Australian Land Speculation 1830-2013 </a>with Paul D Egan.
Property Observer asked Soos to explain past bubbles in Australia’s economy and how Australian investors can cope with a potential bubble.
<img src="/images/2014/07/29/soos-profile.jpg" alt="" style="float: right;">
What is your new book about?
The book provides a conclusive answer to the debate that has been raging in Australia for the last decade – is there a bubble in the housing market? Paul D. Egan and I used a fairly conventional approach to investigate this possibility.
We examined the work of the small number of economists who identified the US housing bubble and predicted the GFC, analysed past real estate bubbles in Australia’s history going back to the 1830s, and used a paper published by the RBA in 1999 (<a href="https://www.rba.gov.au/publications/rdp/1999/pdf/rdp1999-06.pdf" target="_blank">Two Depressions, One Banking Collapse</a>) as a template for the book.
What we found is that Australia’s history is littered with real estate bubbles (really, land market bubbles) that later collapsed, pummelling the banking and financial system and repeatedly sending the economy into recession or depression. The stock market has often bubbled over as well, but the effects weren’t nearly as bad.
What is the difference between a bubble and a normal business cycle peak?
Every capitalist economy experiences fluctuations or business cycles, especially given its dynamic and chaotic nature. Business cycles are driven by a number of factors, particularly rapid industrialisation and urbanisation, mining and manufacturing booms, and the rise and fall of speculative asset bubbles. The former are typically based on fundamental movements in the domestic and world economy, but the latter is caused by irrational exuberance.
Due to the reasons mentioned below, mainstream economists pay little attention to the cycles in stock and land markets. If they did, they would notice that many business cycles throughout history have been strongly influenced by real estate booms, financed by private debts the banking and financial system extends to speculators. Controlling the regular pattern of asset bubbles would considerably tame the business cycle.
What are some big bubbles Australia's property market has seen?
The first land market bubble occurred during the 1830s. Speculators purchased enormous amounts of government-owned land, holding them in the hopes that prices would always rise. But fall they did, resulting in Australia’s first depression in the early 1840s, which the economy promptly recovered from.
The second bubble was insane, developing during the 1880s. Bank and non-bank lenders provided credit to everyone who wanted it, underpinning a period of mass speculative fervour, primarily in commercial CBD real estate. There were reports of Melbournian city blocks doubling in price within the space of several months in 1887. The bubble collapsed in the early 1890s, resulting in the worst depression on record, relatively worse than the ‘Great Depression’ of the 1930s.
The next bubble formed during the 1920s, though this was muted compared to the two previous bubbles. Banks were more cautious and adopted <a href="https://www.philipsoos.com/private-debt/">prudent lending standards</a> which ended up saving them during the depression. The movement in real estate prices were smaller relative to the previous land market cycle. The banks favoured lending to the business sector rather than households during these three bubbles.
The mid-1970s saw a commercial bubble, feeding into a smaller residential bubble which peaked in 1974. Both were financed by a sharp rise in lending by the banking and financial sector and eventually burst, bringing about a recession. The high rate of inflation and wage growth did, however, help to mitigate the large private sector debt burden.
During the late 1980s, another commercial bubble developed, centred in Melbourne, Sydney and Perth. After peaking in 1989, commercial real estate prices collapsed by 60% through to 1993, a thorough blood-letting. This produced the early 1990s recession and, to date, Australia has escaped a further recession.
The latest, and easily the largest, land market bubble in post-WW2 history began in 2001. This time around, the commercial property market is playing a backseat role, with the housing market severely overpriced by a range of <a href="https://www.philipsoos.com/housing-valuation">fundamental indictors</a>, indicating severe trouble will occur when it collapses. The illiquid, over-leveraged, under-capitalised, highly concentrated, foreign-funds addicted, and heavily over-compensated banking and financial sector is eerily reminiscent to that of the 1880s.
Article continues on the next page. Please click below.
<hr class="system-pagebreak">
Are any markets in Australia currently in a housing bubble?
All capital city housing markets have experienced a <a href="https://www.philipsoos.com/housing-prices/">surge in prices</a> since the mid-1990s, with Melbourne posting the largest gain between the low in 1996 and apparent peak in 2010. Perth has also boomed, with prices doubling in a couple of years after 2004, peaking in the March quarter of 2007.
According to our <a href="https://theconversation.com/property-bubble-thats-the-theory-anyway-16814">preferred measure</a>s of a housing bubble - rising real (inflation-adjusted) prices, accelerating mortgage debt and aggregate net rental income losses - all capital city markets are in the bubble zone, though some are larger than others. Darwin has the <a href="https://www.philipsoos.com/rents-and-yields/">highest yields</a>, so it appears to have the smallest bubble.
What is the relationship between purchasing for capital gains and housing bubbles?
The crazy race for capital gains (paper gains or phantom wealth) is the cause of the bubble. Property investors accumulate huge debts to speculate on the future movements of housing prices, expecting continual rises. Fundamental metrics like household incomes, rents and yields are dismissed, as rapidly rising prices become the new norm.
To protect themselves from a crash, should investors be seeking rental returns rather than purely capital growth?
Yes! The fundamental value of a property is based on the income it produces, not what prices could be next year or the year after. Gross yields were around 7% during the mid-1990s, falling to 4% today. Those who have focused on positive cash flows rather than capital gain will come out ahead.
Housing prices can only rise so far given the staggering burden of household debts, currently around <a href="https://www.bis.org/statistics/credtopriv.htm">110% of GDP</a> as of 2013. This is a historical high and aligns with other nations having experienced a bubble: Ireland, Denmark and the Netherlands. Unfortunately, 67% of investors are negatively-geared as of 2012, up from 51% in 1994, indicating they are focused on capital gains, not rental income.
Why do you believe economists "get it wrong" when it comes to bubbles?
There are two primary reasons why the economics profession as a whole always fail to identify real estate bubbles and predict the subsequent economic downturns.
The first is the theory taught and practised is a <a href="https://www.amazon.com/Debunking-Economics-Revised-Expanded-Dethroned/dp/1848139926/ref=sr_1_1?s=books&amp;ie=UTF8&amp;qid=1405987428&amp;sr=1-1&amp;keywords=debunking+economics&amp;dpPl=1">pseudo-science</a> (neoclassical economics). It imagines a world where people can see into the infinite future, know all information and always make rational decisions. Furthermore, banks, debt and time do not play any role in these models. Economists assume housing and land markets operate efficiently by definition; therefore bubbles can’t exist by this logic. It’s a religious-like belief, but with <a href="https://theconversation.com/time-to-stop-rewarding-economists-for-bad-behaviour-5836">very dangerous consequences</a>, especially for middle and low-income earners.
The second reason is due to vested and conflicts of interest. It is almost impossible to gain the honest opinion of an economist, researcher or analyst into matters of real estate and banking. Economists, particularly those in senior and executive roles within government and industry, are unwilling to jeopardise their incomes and privileged status by pointing out the obvious. If they did, they would be kicked to the curb by their employers by the end of the day.
It’s also the reason why our book has been suppressed by the mainstream media, echoing the experience of other published authors who have come to the same conclusion, such as Australian businessman Lindsay David (<a href="https://www.australiaboomtobust.com/" target="_blank">Australia: Boom to Bust</a>). Our two books have a combined 1,000 plus pages of the most in-depth research on real estate, banking and mining available, but no mainstream journalist or reporter will review or cover them. This is to be expected, however, given the irrationality of the times we live in.
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How can investors cope with a property bubble? Q&A with Philip Soos

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On the debut of The Block Glasshouse, host Scott Cam described the series' Prahran office block as "the worst house on the best street".
While that would be a good position to be in for most renovators, the five teams will be in a tough spot this season.
With 3,300 square metres of floor space over five floors, the building is almost double the size of Dux House, the site of The Block Fans v Faves.
The television show is milking the offbeat location for all it's worth, with contestants entering the building to meet Scott Cam, apparently believing the site to be Channel 9's headquarters. While the ruse was less than convincing, given the location was known by the media fairly early on, the show's set designers were certainly earning their keep, dressing the space as a sad but still functioning office.
After the true nature of their location was revealed, contestants went about choosing their respective apartments at random.
Queensland couple Karlene and Michael, a communications manager and construction manager, picked Apartment 1. Though stuck with a lesser position, with a southerly aspect, the apartment has one of the largest terraces. Their pick has a total of 236.8 square metres of floor space.
Chris and Jenna have Apartment 2, the only apartment of the five with no external windows. To make up for the significant setback, the apartment is the biggest on The Block, with 277 square metres of floor space. Theirs is also the only apartment with a rooftop terrace, a secret Jenna spilled but quickly downplayed.
Karsten and Maxine of Newcastle, who met online and are now engaged, have put their own renovations on hold to take on The Block Glasshouse. They picked Apartment 3, the third largest in the building with 237 square metres of floor space. The apartment has a northwesterly aspect, with city views.
Tasmanian brothers Simon and Shannon have Apartment 4, the second largest of the bunch. Located on the front right side of the building, looking over High Street, the apartment has 249 square metres of floor space.
Former AFL footballer Darren and his wife Deanne picked Apartment 5, which has the most desirable aspect, facing north. Unfortunately, it's the smallest apartment of the bunch, with just 186.7 square metres of space.
Each apartment will also have 70 square metres of private storage and two car spaces.
However, armed with just floor plans with no orientation details, the contestants struggled to figure out where their apartments would sit in the space. They also were treated to junk and debris all across the top level of the building, and rippling metal sheets on the roof coupled with strong winds kept them awake in their new accommodation in the office space downstairs.
With free cars, vouchers to sponsor-suppliers and $100,000 in their bank accounts, each team is tasked with renovating their apartment, to sell at the end of the season. Their first task was to find a builder, with each team but Chris and Jenna somehow finding a builder within a single day.
The first episode of The Block Glasshouse <a href="/expert-insights/building/kevins-devon-snail-shell-house-sneaks-up-behind-the-block-glasshouse-in-ratings">attracted 1.37 million viewers</a>  - however, much as been made of Channel 9's "roadblocking" strategy, with the network airing the premier across its flagship 9 platform, Gem and GO! simultaneously, despite previously advertising different shows for that slot on GO! and Gem.
Picture courtesy of Channel 9.
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Contestants in for a challenge on The Block Glasshouse 

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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