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If you live in Melbourne, you no doubt recognise one of the many marks Jeff Xu has made on the city in recent years.
The property developer's Golden Age Group has had its fingers in hospitality, leisure and residential projects across Melbourne's CBD. You may have dined on dumplings at Hu Tong, warbled off-key at Rainbow Karaoke, or stayed at the new Sheraton Hotel at the top of Little Collins Street. Or perhaps you're bought into Xu's latest venture, the 75 storey Victoria One tower. 
The $350 million residential tower, coming to the corner of Elizabeth Street and Franklin Street, will bring 629 apartments to the western precinct of Melbourne's CBD.
According to Xu, the structure was built with the Victorian way of life in mind, with its green facade and fins reminiscent of the Victorian landscape. He said the apartments were intended for both investors and owner occupiers.
"We wanted to show that an investment product doesn't mean a cheap product," Xu said, adding that with a 24 hour concierge, the tower would "feel like a hotel".
The 241 metre tall tower on a 932 square metre site will include 115 one bedroom, 482 two bedroom and 32 three bedroom apartments, with two levels of commercial space facing Elizabeth and Franklin Streets. With the smallest apartment coming in at 41 square metres of floor space, the units would not meet proposed minimum space requirements for Melbourne apartments, which specify a 50 square metre minimum for one bedroom units.
But buyers don't seem to mind the squeeze: about 60% of the stock in Victoria One has already sold, with more than half going to local buyers. One bedroom apartments are priced from $370,000, with two bedroom apartments starting at $473,000 and three bedroom apartments selling from $890,000.
The tower will also include 163 car parks, a pool, spa, gym and a communal entertaining area. Construction is set to begin late this year, with completion due for 2016.
Xu and Golden Age continue to keep busy with other Australian projects, including The Emerald, a 282-apartment tower at 35 Albert Street. There is also 450 St Kilda Road, the low-rise overlooking the Botanical Gardens that Xu purchased from the Carter family for a reported $20 million sum earlier this year.
His CBD spending isn't reserved for towers and restaurants alone. Xu and affiliated parties were also major donors to Melbourne Lord Mayor Robert Doyle's re-election campaign.
With more than 1,000 apartments on the way, Xu isn't worried about the sustainability of Melbourne's appetite for high density inner city residences.
"We're not scared of the boom and bust cycle," said Xu. "That's where opportunities come from."
Property professionals are invited to sign up for the <a href="/news">upcoming Property Observer webinar on Off the Plan Marketing and Sales Masterclass</a>.
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jrichardson-uRX5hFdKfN

Jeff Xu ushers in Melbourne's apartment age with Victoria One

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If you're hoping to compete in the next season of Seven's House Rules, you'd better act fast.
Seven will only accept applications for the next two days, with the process closing on 30 July.
Don't panic - if you and prospective reno partner can sit down and describe yourselves, your home and <a href="/expert-insights/building/house-rules-season-three-do-you-have-what-it-takes">any past violent episodes</a>, you can still be in the running for House Rules season three.
You'll be one step closer to having your home renovated by a competing team of strangers, and if all goes to plan, you could end up like <a href="/expert-insights/building/underdogs-adam-and-lisa-win-house-rules-season-two">season two winners Adam and Lisa</a> or season <a href="/news/carly-and-leighton-crowned-house-rules-winners-with-450-000-adelaide-mortgage-wiped-clean">one winners Carly and Leighton</a>, who had their mortgages wiped clean.
South Australian couple Carly and Leighton are now selling their renovated home, after Seven cleared their mortgage. They originally purchased the Warradale house in 2012 for $450,000.
The three bedroom, two bathroom 1950s house with a stone facade has an open plan interior with floorboards throughout the living spaces. The north-facing backyard has an outdoor entertaining area and lawns, with a detached studio with bar that could double as a home theatre room or bedroom.
While listing agents Troy Tyndall and Nicholas Hage of Toop&amp;Toop Norwood note that $400,000 were spent on renovations on the house, they make no mention of its House Rules history.
According to The Herald Sun, Carly and Leighton have purchased a home in Sydney, with plans to move interstate and "follow their renovation dreams".
Would-be winners can apply at the <a href="https://au.tv.yahoo.com/house-rules/#page1" target="_blank">House Rules </a><a href="https://au.tv.yahoo.com/house-rules/#page1" target="_blank">website</a>.
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Time running out for House Rules hopefuls as season one winners list home

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Brisbane's median house price increased by 6.9% in the year to June 2014, according to new data from Australian Property Monitors.
On a quarterly basis, Brisbane's median house price rose by 1.5% - the eighth consecutive quarter of price growth for the city. The city exhibited the third highest quarterly and yearly rate of growth of any capital cities (behind Melbourne and Sydney).
The median house price of $477,352 is a record high for Brisbane, eclipsing its June 2010 peak. However, the figure is still below the national median of $627,940. Australian Property Monitors' results show that Brisbane's house market is the third cheapest in the country, with only Hobart and Adelaide having lower median house prices of $329,186 and $462,129 respectively.
Andrew Wilson, senior economist for Australian Property Monitors and the Domain Group, said the Brisbane housing market is "gathering momentum".
"Over the June quarter, the Brisbane median house price increased by +1.5% - a similar result to the +1.8% growth recorded over the March quarter," said Wilson.
"Having finally recovered from its previous price peak recorded in June 2010, the Brisbane median house price is now at a new record level of $477,352. Brisbane house prices increased by +6.9% over the year ending June which was the highest annual result for the city in four years."
Those <a href="/news/qld/brisbane-should-you-be-looking-at-a-house-or-unit">considering a unit or house in Brisbane </a>will note that rather than increasing, Brisbane unit prices actually decreased on a yearly basis, by 0.7%. The median price of a unit in Brisbane is now $364,641. In the quarter to June, the median unit price increased by 0.8%.
<img src="/images/2014/07/24/apm-chart-july-24-one.gif" alt="">
<img src="/images/2014/07/24/apm-chart-july-24-two.gif" alt="">
Source: Australian Property Monitors
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Brisbane house prices reach record high: APM

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The producers of The Block certainly know that if it ain't broke, you don't fix it.
The show's blend of drama, deadlines and dollars is a winning formula for the series (if the huge ratings and the turnout for last year's open for inspections are anything to go by), and the characters are the most essential part of the process. For the upcoming The Block Glasshouse, it seems the producers have been busy mining the past to recreate their success.
We've been <a href="/expert-insights/building/the-block-glasshouse-promos-released-series-coming-soon">introduced to the contestants of this series</a> in a number of promotions, and Property Observer thought some of the couples looked eerily familar.
Maxine and Karstan
<img src="/images/2014/07/18/karstan%20and%20max.jpeg" alt="">
Image courtesy of Channel 9.
We aren't the first to think that this season's young loved up New South Wales contestants reminded us of another season's young loved up New South Wales contestants.
Host Scott Cam spoke to The Herald Sun about Maxine and Karstan, saying:
"We had the super Ks ... (Kyal and Kara), this year we've got the supermodels.
"She (Maxine) is beautiful, he is this good looking bloke and they are just this perfect couple."
Kyal and Kara (pictured below) were the fan favourites last year - will Maxine and Karstan be just as popular?
<img src="/images/2014/07/25/kk.jpg" alt="">
Image courtesy of Channel 9.
Darren and Deanne
<img src="/images/2014/07/18/darren%20and%20dee.jpeg" alt="">
Image courtesy of Channel 9.
Maxine and Karstan aren't the only ones who have been compared to last season's contestants. It seems The Block Glasshouse's producers push to market Dee as reality TV shrew of the year is working. Before the series has even aired, News.com.au has published an article headlined: "Is The Block: Glasshouse contestant Deanne Jolly the most volatile Blockhead yet?"
Josh and Jenna (pictured below) of the 2011 incarnation of The Block also proved a reliable source of tantrums.
<img src="/images/2014/07/25/l_joshandjenna.jpg" alt="">
Image courtesy of Channel 9.
Carlene and Michael
<img src="/images/2014/07/18/michael%20and%20carlene.jpeg" alt="">
Image courtesy of Channel 9. The promo material released do their best to paint Carlene as a witch (complete with cackle), while both Carlene and Michael admit that it's the man of the couple that has trouble controlling his temper. Like Darren and Deanne, the young parents could turn out like Josh and Jenna.
Then again, they could turn out like any of the 14 (at our last count) blonde-woman-and-man couples that have already appeared on the series. Simon and Shannon
 <img src="/images/2014/07/18/shannon%20and%20simon.jpeg" alt="">
Image courtesy of Channel 9.
Will the two-Aussie-larakin-blokes-who-are-a-bit-cheeky-but-still-good-natured-and-very-loveable trope work for The Block Glasshouse?
The producers are clearly hoping so with Simon and Shannon, but it's unclear whether the Brad and Dale combo (pictured below) will be quite as successful with double Dales and no Brad.
<img src="/images/2014/07/25/721372-51cabcea-9454-11e3-8d43-e004d36a6c9a.jpg" alt="">
Image courtesy of Channel 9.
Chris and Jenna
<img src="/images/2014/07/18/jenna%20and%20chris.jpeg" alt="">
Image courtesy of Channel 9.
It's hard to pinpoint exactly where Chris and Jenna will fit in The Block universe. To our knowledge, the show has never featured an Asian Australian contestant before, nor a Maltese-Indigenous Australian.
So far, they're being marketed as the quirky renovation rookies as Steve and Chantelle were (pictured below) - let's hope they do as well out of the deal as last season's winners.
<img src="/images/2014/07/25/steve-chantelle.jpg" alt="" style="line-height: 1.3em;">
Image courtesy of Channel 9.
The Block Glasshouse starts this Sunday on Channel 9 at 6:30pm.
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The Block Glasshouse draws on the past for inspiration

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Do you remember the last time you took a good look at your own ceiling?
It was probably through bleary eyes, while you struggled to get out of bed this morning. Unfortunately, most of us don't have good reason to stop and look at our own ceilings.
But not everyone lives under white paint and down lights - some houses really have ceilings to celebrate. Here are five.
<ol>
<li>
<a href="https://%20http:/www.realestate.com.au/property-house-vic-queenscliff-115014703" target="_blank">79 Hesse Street, Queenscliff, Victoria</a> <img src="/images/2014/07/25/1.jpg" alt=""> The beautiful kauri pine barrel vaulted ceiling of this converted church in Queenscliff is the central feature of the home, contrasting against the stark white minimalist interiors. Now a four bedroom, four bathroom house, the building was originally built as a church in 1888, designed by architect TJ Crouch. It was deconsecrated in 1981 and was then used as an art gallery, tea rooms and a bric-a-brac shop. The current owners purchased the building in 2007, converting it into a home in 2011. It's currently on the market for $1.9 million to $2.1 million. <img src="/images/2014/07/25/1a.jpg" alt=""> 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-bondi-115464395" target="_blank">330 Birrell Street, Bondi, New South Wales</a> <img src="/images/2014/07/25/2.jpg" alt=""> There's no eggshell white or dove grey tones to be seen in this Bondi building. Operating with a more-is-more ethos, owner Kevin Du Val has furnished the property with art nouveau curiosities, which extend upwards to the ceiling. He currently operates a massage clinic out of the property, which is soon to be auctioned. <img src="/images/2014/07/25/2a.jpg" alt=""> 
</li>
<li>
Moorecrest, California <img src="/images/2014/07/25/6.jpg.jpg" alt=""> Du Val's Bondi offering rather reminds us of the new Hollywood <a href="/news/from-incredibad-to-chaplins-pad-andy-samberg-and-joanna-newsom-buy-legendary-hollywood-home">home of Brooklyn 99 star Andy Samberg and musician Joanna Newsom</a>. The renovated 1921 home, once rented by Charlie Chaplin, features elaborate interior details, from the carved cornices and decorated columns to intricate oriental designs on the ceilings. <img src="/images/2014/07/25/7.jpg.jpg" alt=""> 
</li>
<li>
<a href="/expert-insights/buying/nicholas-dattners-collingwood-warehouse-passed-in">16/21 Wellington Street, Collingwood, Victoria</a> <img src="/images/2014/07/25/8.jpg" alt=""> "The Kiln" is a rather more rustic offering, a warehouse apartment which was once part of the former Carlton United Breweries between Collingwood's Victoria Parade and Gipps Street. Built in 1862 and fitted out in 1999, the apartment recently passed in at $1.35 million when <a href="/news/furniture-maker-nicholas-dattner-lists-collingwood-kiln-apartment">put to auction by furniture maker Nicholas Dattner</a>. <img src="/images/2014/07/25/9.jpg" alt=""> 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-qld-cape+tribulation-117495083" target="_blank">3762 Cape Tribulation Road, Cape Tribulation, Queensland</a> <img src="/images/2014/07/25/5.jpg" alt=""> The futuristic Alkira is unique in every way, and its ceilings are no exception. Designed by architect Charles Wright, the living space of this concrete trophy home features a scatter of concrete "beams", highlighted by long LED strips. Surrounded by 73 acres of rainforest, Alkira sits in a man made lake, with a helipad located 100 metres from the house. The trophy home, which owners hope will catch the attention of a local billionaire or perhaps "Silicon Valley and Asian entrepreneurs and Hollywood stars", is on the market for $14 million. <img src="/images/2014/07/25/5a.jpg" alt="">
</li>
</ol>
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Things are looking up: Five trophy homes with fantastic ceilings

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All eyes are on Brisbane at the moment.
Many commentators are tipping price growth for the city, which some say is at an <a href="/expert-insights/terry-ryders-20-reasons-the-countrys-property-boom-isnt-over">earlier stage in its price cycle</a> than Sydney or Melbourne.
According to RP Data-Rismark's Home Value Index, Brisbane has seen a 7% increase in dwelling values in the 12 months to June, with a median dwelling price of $455,000. Brisbane's median price sits below Sydney's, Melbourne's, Perth's, Darwin's and Canberra's, and the city has exhibited much more price growth in the past year than the slightly cheaper Adelaide, where dwelling values increased only 2.9%
But if you're considering a Brisbane purchase, should you be looking at a house or unit? Property Observer breaks down the data.
Houses
The median price for a house in Brisbane and the Gold Coast was $480,000 for the quarter to June, according to RP Data. If you're looking for a property around that price, you might see something like <a href="https://www.realestate.com.au/property-house-qld-the+gap-116695639" target="_blank">1256 Waterworks Road in The Gap</a>, pictured below.
<img src="/images/2014/07/24/brisbane%20house.jpg" alt="">
About 20 minutes from the Brisbane CBD, the 1970s weatherboard three bedder sits on a 683 square metre block. It sold for $490,000 earlier this month.
If you are intending to rent out your Brisbane house, you can expect to see 4.5% yields. For houses, Brisbane offers the third best gross rental yields of all the capital city markets, behind Darwin and Hobart.
Asking rents for Brisbane houses have increased by 1.4% in the past 12 months, according to SQM Research's Weekly Rents Index, to $443.70 per week. For a three bedroom house, you can expect to attract around $419.90 per week. Houses have seen a 4.5% increase in asking rents in the past three years (5.1% for three bedroom houses) Brisbane currently sees a 2.4% vacancy rate for all homes. Houses in Brisbane increased in value by 7.2% in the last 12 months, according to RP Data.
For our take on Brisbane units, see the next page.
<hr class="system-pagebreak">
Units
While Brisbane house prices have increased by 7.2% in the last year, Brisbane's units have seen slightly more modest growth in the same time. Units in the city have increased 5.4% in price on a year-on-year basis, and now have a median price of $385,000.
For that price, you might see a unit like this <a href="https://www.realestate.com.au/property-apartment-qld-enoggera-117011319" target="_blank">two bedroom apartment in Enoggera</a>, about 15 minutes from the Brisbane CBD.
<img src="/images/2014/07/24/brisunit.jpg" alt=""> It sold for $390,000 in early June. For a two bedroom unit in Brisbane, you can expect $352.40 per week in rent. The median weekly asking rent for all units in the city is $366.70. Unit asking rents have actually decreased slightly on yearly basis, down 0.1%. But three-year asking rent growth was higher for units than houses in the city, with a 4.6% increase against a 4.5% increase. You're likely to see more rent per dollar spent on purchase with a unit than you will with a house in Brisbane. Units in the city yield 5.4% according to RP Data, above 4.5% from houses. Brisbane's units offer the second highest yields of any capital city, with only Darwin units on top. House or unit? Houses have shown stronger price growth than Brisbane units in the past year, but units currently offer better rental yields.
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Brisbane: Should you be looking at a house or unit?

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Yesterday, the Commonwealth Bank cut its five-year fixed mortgage rate by 70 basis points to 4.99%, prompting cuts from competitors NAB and Westpac.
It's a record low for the bank. As <a href="/expert-insights/finance/competitive-cba-cuts-five-year-rate-to-record-low-as-inflation-quickens">Jonathan Chancellor reports</a>, Westpac and NAB matched the Commonwealth Bank's rate within a few hours. 
Westpac's 0.80% cut only comes into effect on July 28. Their offer includes a discount of 0.2% under the bank's Premier Advantage Package. It will be available to both new and existing customers for a limited time.
NAB dropped its five-year fixed rate by 70 basis points, matching the Commonwealth Bank's 4.99% rate. The new rate will be available from tomorrow. It also cut rates on its three and four-year fixed rate home loans, with a 4.99% rate for its four-year product and 4.94% rate for its three year fixed rate loan. 
ANZ is the only of the "big four" banks to hold the interest rate on its five-year fixed rate loan after yesterday's Consumer Price Index figures were released. Its offers a 5.94% rate on the product. Michelle Hutchison of rate comparison website Finder.com.au says those worried about potential interest rate rises should consider adopting a fixed loan while rate remain competitive.
"Long-term fixed rates such as five-year terms are riskier than shorter terms for one or two years because you have potentially more to lose because you're betting over a longer period of time," said Hutchison. However, she warns borrowers against taking up a loan purely because of a low interest rate.
"It's great to see the big banks dropping their rates and being more competitive but borrowers need to look into all the conditions and details before jumping into a fixed home loan. For instance, Commonwealth Bank's five-year fixed rate of 4.99% must be taken out in their packaged deal which means it has an annual fee and you need to open other accounts with the bank too," she says.
"The problem with fixing your home loan right now is that there's a chance more lenders will follow the major banks' lead and drop their five-year fixed rates even further so borrowers could miss out on even bigger savings. 
"Borrowers are also betting on their fixed rate staying below variable rates for most of the next five years. But fixing brings reassurance that your mortgage repayments won't move which can be worthwhile if you're budget is tight or you're planning to have a reduced income for starting a family or going overseas in the next few years," Hutchison explains.
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NAB and Westpac meet CBA's rate cut

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A new franchise agreement will see a 226 room Holiday Inn Express hotel built in Brisbane's Spring Hill.
The first Holiday Inn Express property in Brisbane, the hotel is the second in the 15-strong portfolio of Holiday Inn Express hotels developed by Pro Invest under a $150 million fund. Their first Holiday Inn Express hotel will open next year at Macquarie Park in North Ryde, Sydney.
Situated close to Brisbane CBD's "Golden Triangle", the Holiday Inn Express hotel will be accessible form Brisbane airport, catering to corporate visitors and holidayers.
The Brisbane Holiday Inn Express will have two meeting rooms, on-site parking and a breakfast area dubbed "The Great Room".
Matthew Tripolone is head of development for the InterContinental Hotels Group's (IHG) Australasian division, which signed the deal with Pro Invest. He said the Holiday Inn Express brand is one of the group's fastest growing brands.
“The development of the new Holiday Inn Express in Brisbane is a significant milestone for IHG as it marks our return to the city with the entry of our largest and one of our fastest growing brands into the market," said Tripolone.
"As the third most populous city in Australia, Brisbane has immense growth potential as it sees steady increase in the number of domestic and international travellers. This hotel will cater to the growing demand for hotel accommodation in the Spring Hill district, offering a great guest experience to smart, savvy travellers regardless of whether they are visiting for business or leisure.”
Pri-Invest Group chief executive Ronald Barrott said the group sees "a lot of potential for the brand in Australia", following previous international Holiday Inn Express projects.
"With the construction of our Macquarie Park property commencing in the coming weeks and this second property now signed, we are on track to developing the 15 hotels under our partnership as we actively scour the country for strategic locations to expand the presence of Holiday Inn Express."  
In Australia, IHG operates under three brands: InterContinental Hotels and Resorts, Crowne Plaza and Holiday Inn. The group has 27 hotels operating nationally.
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Brisbane's first Holiday Inn Express hotel to be built in Spring Hill

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It's an experience most buyers have gone through before.
You stumble upon your dream property on a listing website. It has everything - high ceilings, water views, plush carpets and just enough room for you, the partner and the dog - and all at the right price.
But when you drive out to the suburb and walk through at the open home, something's not quite right. Those ceilings might be high to a toddler, but you almost bump your head on the chandelier. The plush carpets stink of old cigarettes and it turns out you can't get a glimpse of water unless you climb up the gum tree in the backyard. Another Saturday morning wasted.
Listing photos are there to make a property look good - good enough to get the buyers in the door at an open home, rather than scrolling past on a website. Unfortunately, that often means that they gloss over all the negatives of a property, the ones that really matter to buyers. For those traveling across the city for a new home purchase, or even interstate, this can result in a big loss of time and money, with the added opportunity cost of all those other properties you could have looked at in the mean time.
To combat rip-offs, scams and simple oversells, two Queensland entrepreneurs have launched a new business that lets consumers check out real estate, goods, accommodation and even dating prospects without ever leaving their own home.
The 'Go To Guy' network, founded by Garry Harding and Greg Rawlinson, is made of 350 inspectors across the country who can visit, document and report on properties or goods before you purchase them. An independent report, which you can compare against the original seller's description, will cost you $55.
The company also offers rental inspections for landlords who can't align their schedule with their tenants or property managers, client and asset verification for credit providers. They'll even meet prospective dates for online daters who are wary of "catfish".
According to the company's founders, they were inspired to launch the service after being disappointed by their own online purchases. Chief executive Garry Harding said the service can save buyers money and time.
“Online fraud and deception is growing as fast as e-commerce itself but our Go To Guys can now save consumers time and money by verifying the existence, condition and seller’s claims of any item so shoppers can avoid falling victim to misrepresentation,” said Harding.
“In the real estate field, we can check on the property’s actual condition and see if those water views actually exist. In the travel sector, we can visit holiday villas to see what they really look like and in the increasingly popular arena of internet dating – an emotional minefield at the best of times - we meet up with a client’s prospective partner with their consent to verify their identity and appearance and take photos for the client.”
Co-founder Greg Rawlinson said the independent, unbiased service helped consumers make decisions away from the sellers' interests.
"Essentially, we eliminate the guesswork and uncertainty of purchasing online by unearthing any problems and presenting a product as it really is, irrespective of whether the buyer has seen the item or person or not,” Rawlinson said.
“And our service is available 24/7 - just like the world of online shopping. We enable our customers to shop from anywhere and purchase anything with confidence.”
It remains to be seen whether consumers will be willing to pay $55 for a property inspection by the Go To Guys Network - especially as they'll most likely need to pay for another inspection from a building inspector further down the line if they do intend to buy the property. But for those who can't bear the thought of another Saturday morning wasted, it might just be worth it.
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Reality for realty: New service offers inspections for online property shoppers

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In his latest Ryder Report, regular observer Terry Ryder takes on the so called "national property boom".
Unlike some other property commentators, Ryder doesn't believe Australia is in the grips of an emerging bubble or boom. Here are his 20 reasons why the country's boom isn't over yet.
1. "There is no national boom" For the market to bust, there would have to be a boom, and Ryder doesn't think we have one - outside of Sydney, anyway. He's previously criticised media outlets and <a href="/expert-insights/finance/the-rba-just-doesnt-get-the-housing-market">institutions like the Reserve Bank of Australia</a> for focusing too much on Sydney's market when generating national commentary. 2. "Sydney still has momentum" According to Ryder, any claims that Sydney's boom is over is "based on a single month's data", a <a href="/expert-insights/latest-media-fiasco-shows-exactly-why-monthly-movements-are-meaningless">criticism he's stated before</a>. He says: "buoyancy remains in Sydney's market". 3. "Melbourne still has momentum" Ryder says that a growing number of Melbourne suburbs are seeing rising sales activity, with even greater price rises likely to come. 4. "Brisbane just starting to rise" While the other Eastern Seaboard capitals are yet to reach their peak, Ryder says Brisbane is just getting started. "Brisbane is well behind Sydney in the current cycle and is only beginning its upward movement," says Ryder. He predicts prices will rise this year. 5. "Adelaide poised to grow" Ryder believes Adelaide "will be the surprise performer of 2014," with increasing sales activity across the city.
This list continues on the next page.
<hr class="system-pagebreak">
 
6. "Hobart starting to show life"
Despite "being ignored in national assessments", Hobart's market activity is also beginning to pick up, believes Ryder. 7. "Perth still has momentum" Although the city's sales have "plateaued" after a strong run in 2012 and 2013, Ryder thinks they remain "elevated", with possible future price growth. 8. "Darwin showing signs of revival" Despite signs of a slowing market last year, Ryder says Darwin appeared to pick up in late 2013 and early 2014. He believes prices in the city are likely to keep rising. 9. "NSW regional cities rising" Ryder thinks New South Wales' regional centres have picked up some heat from Sydney's market, or have their own local reasons for growth. According to Ryder, "their run is just beginning". 10. "QLD regional cities rising" Cairns, Toowoomba, the Sunshine Coast and the Gold Coast are leading the state's regional cities into "strong growth phases", according to Ryder.
 
This list continues on the next page.
<hr class="system-pagebreak">
 
11. "Other regional centres on the up"
Ryder says regional markets south of Perth are growing. He believes South Australian and Victorian regional centres are also picking up, as is Launceston in Tasmania. 12. "Sales volumes still rising" Ryder cites the latest update of his own Price Predictor Index which points to increasing sales volumes across the country, which he says "inevitably leads to price growth". 13. "Consumer sentiment improving" According to Westpac's July consumer sentiment report, there is a "healthy rise in confidence" regarding real estate, says Ryder. 14. "Budget news has been digested" "There was a brief period in May when decision-making halted as people digested the Federal budget we seem to have moved on," says Ryder. 15. "Building approvals are rising" Ryder notes that building approvals increased 16% in 12 months to April 2014, with South Australia, Western Australia, New South Wales and Queensland all leading.
This list continues on the next page.
<hr class="system-pagebreak">
 16. "Lending for homes still rising"
On an annual basis, lending for home loans is up 12%, says Ryder. He notes double-digit growth in six states and territories. 17. "Investor activity rising" Lending for investors is up by an even greater proportion, with 28% annual growth and 1.1% growth in the month to April. Investor lending has increased by 17% or more in five states (presumably annually), says Ryder. 18. "Asian investment growing" Though Ryder believes foreign buyers' impact on local markets is exaggerated, he does believe Asian investors are continuing to affect inner-city unit markets. 19. "Interest rates remain low" Ryder believes Australia's current record low interest rates are "unlikely to change in the near future". 20. "National boom is just starting" "Contrary to claims that 'the boom is over', all the evidence says that a national boom is really just beginning", claims Ryder.
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Terry Ryder's 20 reasons the country's property boom isn't over

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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