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Vacancy rates in Wollongong and the Northern Rivers are now lower than those in the Sydney inner city, according to the latest Real Estate Institute of New South Wales (REINSW) Vacancy Rate Survey.
The number of available residential rental properties available in Wollongong, the Northern Rivers and Albury all fell significantly last month. REINSW President Malcolm Gunning said that Wollongong offered an alternative to Sydney for renters.
“Wollongong vacancy rates have hit lows last seen almost three years ago, with a decline of 0.8% to 1.5%. Across the Illawarra region vacancy rates are at 1.6%, down 0.5%,” said Gunning.
A <a href="https://www.realestateview.com.au/rental-properties/3-21-crown-street-wollongong/Property-Details-rent-residential-7080571" target="_blank">two bedroom unit</a> (pictured below) located close to WIN Stadium and the Crown Street mall is currently being offered to renters at $280 per week.
<img src="/images/2014/05/13/3-21-Crown-Street-Wollongong-NSW-2500-Real-Estate-photo-1-large-7080571.jpg" alt="">
“Wollongong is an attractive proposition for those who wish to relocate from Sydney. Its beachside location is a more affordable option for those who are seeking a more relaxed lifestyle and this is putting pressure on the number of properties available,” Gunning said.
The <a href="https://www.realestateview.com.au/rental-properties/14-flinders-street-wollongong/Property-Details-rent-residential-7032733" target="_blank">three bedroom house pictured below</a> is available to rent in Wollongong for $430 per week, at a rental yield of 4.3%. It’s a fourteen minute bus ride from Wollongong University, and a 10 minute walk to the beach.
 <img src="/images/2014/05/13/14-Flinders-Street-Wollongong-NSW-2500-Real-Estate-photo-1-large-7032733%201.jpg" alt="">
Gunning noted that low vacancy rates showed that the state’s housing issues extended beyond the capital city.
“It is important for new Premier Mike Baird to take a holistic approach to the housing issues facing the state. It is not isolated to Sydney,” said Gunning.
Vacancy rates for both Albury and the Northern Rivers fell by 0.5% last month. REINSW recorded an April vacancy rate of 1.6% for Albury and 1.5% for the Northern Rivers.
Albury now has the same proportion of properties available to rent as the Sydney inner city market, where the vacancy rate has risen to 1.6%. According to Gunning, the inner city remains Sydney’s tightest market, despite an 0.3% vacancy rate increase.
“In middle Sydney availability rose 0.4% at 2.0% and outer Sydney was up 0.2% at 1.7%,” said Gunning. The Sydney-wide vacancy rate was up 0.3% to 1.7% last month.
Newcastle also saw an increase in its vacancy rate, which rose 0.5% to 3%, despite vacancy rates down by 0.1% overall for the Hunter Region.
Vacancy rates also fell in the South Coast, which dropped by 0.3% to 2.2% for the month, and New England, down 0.1% to 3.4%.
The Central West region has the greatest proportion of rental accommodation available, with vacancy rates jumping 1.4% to 4.9%. Coffs Harbour also saw a slight downturn in its rental market, where the vacancy rate fell 0.2% to 4%.
Observer <a href="/expert-insights/investing/too-late-to-buy-sydney-try-wollongong-or-dubbo-tamworth-and-gunnedah-and-newcastle">Terry Ryder tipped Wollongong</a> as a potential hotspot, noting that the city has defied recession predictions following the downsizing of Bluescope Steel.
"A lot of infrastructure and property development money is pumping into Wollongong and real estate markets are rising," said Ryder.
Photo courtesy of Flickr/<a href="https://creativecommons.org/licenses/by-sa/2.0/" target="_blank">Creative Commons</a>.
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jrichardson-uRX5hFdKfN

Wollongong rental market - tightest for three years - and lowest in NSW: REINSW

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A Great Ocean Road Icon, the Lorne Theatre will go up for auction tomorrow with vendors expecting bids over $2.5 million.
The site of many a first date, the art deco era Lorne Theatre was built in 1937 as tourism expanded following the extension of the Great Ocean Road to the seaside town. Tomorrow’s auction will mark the first time the building has been offered since it was purchased by the current vendors in the late 1960s.
The sale has some worried that the seaside town of Lorne will lose the historical landmark. According to The Geelong Advertiser, a public meeting was called to consult with Heritage Victoria over potential development on the site. The cinema’s lease is due to finish in 2016.
While selling agent Shaun Venables of Burgess Rawson says that the theatre has received interest from developers, but that many are keeping the theatre’s historical value in mind.
“Most of the developers we’ve spoken to are sympathetic to the theatre’s current use – they’re considering redevelopment, rather than development.
“It’s a 530 seat theatre, which has been full once in the last 25 years. Given the building’s height and corner situation, there’s a great opportunity to utilise the building and make a big difference to the strip.”
The Lorne Theatre is one of the few single screen theatres left in Australia. The heritage listed theatre is known for the quality of its acoustics, thanks to the poor amplification available in the 1930s. It underwent an upgrade last year and now has a state of the art digital projection and sound system.
The 715 square metre corner site with 56 square metres of dual frontage onto the Great Ocean Road is advertised as drawing $78,180 in yearly rent. 
The Lorne Theatre at 76 Mountjoy Parade will be sold <a href="https://melbourne.burgessrawson.com.au/3P0787" target="_blank">in a portfolio auction at Melbourne’s Crown tomorrow</a>. It is being sold through Venables and Raoul Holderhead of Burgess Rawson and Michael Coutts and Ian Stewart of Great Ocean Road Real Estate Lorne.
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Iconic Lorne Theatre up for auction tomorrow with $2.5 million plus hopes

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Buyers in Perth paid a median price of $547,000 for houses in the quarter to April, according to the latest RP Data Rismark index.
Property Observer looks to recent sales in the West Australian capital to see just what $547,000 will buy you.
<ol>
<li>
<a href="https://www.realestate.com.au/property-house-wa-forrestfield-116312443" target="_blank">8 CHERRY TREE ROAD, FORRESTFIELD <img src="/images/2014/05/12/1.jpg" alt=""></a> This four bedroom house sold for $542,000 last month through Frank Mills of Centurion Real Estate, High Wycombe. Set on a 600 square metre block, it also includes two bathrooms and a kitchen and dining area with separate lounge. Outside, there is also a covered entertaining area and an underground pool. Price: $542,000 Bedrooms: four Drive to CBD: 24 minutes 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-wa-currambine-115851527" target="_blank">67 CALEDONIA AVENUE, CURRAMBINE <img src="/images/2014/05/12/2.jpg" alt=""> </a>Another four bedroom Perth home sold that weekend for $535,000. The house in Currambine is located in the <a href="/expert-insights/buying/suburb-spotlight-joondalup-adjusting-to-moderating-market">Joondalup region, north of the Perth CBD</a>. The suburb had a median house price of $540,000 in March. The master bedroom of this house has a walk in wardrobe and en suite. There is ducted air conditioning throughout the home and a formal lounge and dining in addition to the open plan kitchen and living area. Price: $535,000 Bedrooms: four Drive to CBD: 25 minutes 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-wa-stirling-115774427" target="_blank">4/13 SANTAROSA WAY, STIRLING <img src="/images/2014/05/12/3.jpg" alt=""> </a>
Vendors sold this home for $545,000 earlier this year. The townhouse has three bedrooms and two bathrooms, with a dining and living area and a separate formal lounge. Tenanted at the time of sale, the home was last advertised to renters at $500 per week. The vendors purchased the house on a block of six for $300,000 in 2005.
Price: $545,000
Bedrooms: Three
Drive to CBD: 14 minutes
</li>
<li>
 <a href="https://www.realestate.com.au/property-house-wa-morley-116369795" target="_blank">30 HARROWSHILL ROAD, MORLEY </a> <img src="/images/2014/05/12/4.jpg" alt=""> 
Set on 728 square metres, this home in the north eastern suburb of Morley sold for $547,000 in March. The suburb, 10 kilometres from the Perth CBD, had a median house price of $515,000 for the month. This home has three bedrooms and there’s a powered workshop on the plot. When it was on the market, agents Natasha Harwood and Shane Stewart of Midland Real Estate Plus Australia pushed the property’s subdivision and development potential.<a href="https://www.realestate.com.au/property-house-wa-morley-116369795" target="_blank"> </a>
Price: $547,000
Bedrooms: three
Drive to CBD: 19 minutes
</li>
<li>
<a href="https://www.realestate.com.au/property-house-wa-canning+vale-115761715" target="_blank">68 BIRNAM ROAD, CANNING VALE <img src="/images/2014/05/12/5.jpg" alt=""></a>
The vendors got more than double their purchase price when they sold this home in Canning Vale. The house sold for $550,000 – it was purchased for only $215,000 less than six years earlier. The four bedder south of the river was advertised by the new owners for $500 per week in March.
Price: $550,000
Bedrooms: Four
Drive to CBD: 22 minutes
</li>
</ol>
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What can you get for Perth's $547,000 median house price?

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The Northern Territory government has <a href="/expert-insights/investing/northern-territory-s-fhog-directed-to-new-builds-only-from-2015">abolished its first home owners grant for established homes</a>, extending the grant only to new dwellings from January 2015.
While announcing the changes, Treasurer David Tollner acknowledged that first home owners grants have added upwards pressure on housing prices. The government cited economist Saul Eslake’s <a href="/news/the-senates-inquiry-into-affordable-housing-six-submissions">submission to a Senate inquiry into affordable housing</a>. Eslake criticised the grant, saying that when applied to established homes, it "served to simply to exacerbate the already substantial imbalance between the underlying demand for housing and the supply of it."
According to Tollner, the unintended inflationary effects of the first home owners grant were a factor in the government’s decision to abolish the grant for established homes.
"That’s why the Territory government will direct the first home owners grant solely towards the construction or purchase of new homes from next year," said Tollner.
"By targeting the first home owners grant towards the purchase of newly built homes, the grant is more likely to contribute to growth in housing supply and employment in the construction sector."
The Territory government will maintain the payment for first home owners of established homes for eight months.
"...ultimately, we want this grant to encourage the construction of new homes, create more jobs in the residential construction sector and improving housing affordability by increasing housing stock." Tollner said.
"This is a far better result than merely creating a churn in existing dwellings that is widely accepted as having an inflationary effect on the cost of housing."
Eslake is not the first industry figure to criticise the first home owners grant. Writing on the grant last year, <a href="/expert-insights/investing/slow-demise-of-first-home-owner-grant-schemes-monique-sasson-wakelin">observer Monique Sasson commented</a>:
"The scheme is meant to make property more affordable for first home buyers. Unfortunately, experience shows that the grants don’t achieve this end.  Instead, the nominal increase in purchasing power it delivers to first home buyers transmits directly into higher prices for the properties they hope to buy.
"The real beneficiaries are the vendors of properties that first timers buy."
The Northern Territory follows Victoria, New South Wales, Queensland and the Australian Capital Territory in its removal of the first home owners grant for established properties.
 
 
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Northern Territory government acknowledges that FHOGs for established houses have "inflationary effect"

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The Reserve Bank of Australia has noted that the strong established housing market has stimulated consumption in its latest Statement of Monetary Policy.
In its outlook for 2014-15, the Reserve Bank predicts that low interest rates will continue to support the housing market. Low rates are also expected to boost the construction of new dwellings and household consumption.
According to the Reserve Bank, a “pronounced increase in dwelling investment is underway”, with growth higher than was forecast three months ago. Increasing housing turnover is expected to stimulate renovation activity, which the Bank notes has “to date been quite subdued.”
The market for new housing remains strong, with building approvals also surpassing previous expectations. Forward looking indicators such as loan approvals and first home owner grants for new dwellings are also showing strong growth.
The Reserve Bank cites low interest rates, rising housing prices, average rental yields and first home owner grants for new dwellings as key drivers for housing investment.
Nationally, house price inflation has moderated somewhat in recent months. The Reserve Bank also notes that auction clearance rates have declined from their recent highs, while loan approvals remain stable. According to the Reserve Bank, "it remains to be seen whether these signs of tempering conditions represent a shift to a more sustainable growth rate for housing prices."
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RBA’s May 2014 statement: Dwelling investment increasing

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Treasurer Joe Hockey will tomorrow announce the Abbott government’s first federal budget.
The Coalition pledges to return the budget to surplus by 2023-24. With talk of a <a href="/expert-insights/investing/australia-s-economy-is-healthy-so-how-can-there-be-a-budget-crisis">budget “emergency” or “crisis”</a>, <a href="/news/john-symond-fears-fallout-from-overly-tough-federal-budget">some are worried that the government will deliver a tough budget</a> to the detriment of the economy. 
Here's what the experts think of the prospective federal budget and the impact it will have on the country's housing sector.
<img src="/images/2014/05/12/rogers-profile.jpg" alt="" style="float: right;">DALLAS ROGERS - Research Fellow, Urban Research Centre at University of Western Sydney
It’s worth remembering on budget night that we all live in subsidised housing. The great Australian dream to own a house has long been underwritten by the great Australian housing subsidy. Whether you are a public housing tenant, a private renter or a homeowner, chances are your house was subsidised through a rental subsidy, housing grant or taxation credit. There will be housing winners and losers on budget night.
It’s not looking good for public and social housing subsidies this budget. The Commission of Audit urged the Commonwealth to limit its involvement in public and social housing by providing rent assistance to income support recipients. If Hockey followed through with these recommendations social and public housing tenants would have to pay market rent for their currently subsidised housing. The National Rental Affordability Scheme would go too. This would be bad news for housing equity. The frail and elderly, those with carer responsibilities or complex medical needs, or very low-income Australians in public or social housing would be hit hardest.
Comparably, The Commission of Audit was silent on private housing taxation. Private housing subsidies are like chocolate, we know that we should use them in moderation but we just cannot cut back. We often pretend that they are not subsidies at all. AMP <a href="https://m.afr.com/p/national/big_talk_small_acts_on_bn_budget_AkRrPW2xaygUjpIodRK8IK">chief economist</a> says ‘changes to negative gearing or the CGT exemption on the family home would be seen as “unAustralian”’. <a href="https://grattan.edu.au/">Grattan Institute</a> data suggests that more than 90 per cent of private housing subsidies go to property owners over private renters (see below). Including the roughly $30 billion pa capital gains tax benefit for owner-occupiers and the $7 billion pa negative gearing benefit for landlords. Most tax concessions do not generate new housing stock. They all, with the addition of the first homebuyers grant, drive up property prices. This is good for homeowners and developers, and bad for renters.
<img src="/images/2014/05/12/grattan.jpg" alt="">
If we want housing equity and socially just cities we need to rethink public and private housing subsidies. There is scope for innovative private sector models and taxation policy – e.g., National Rental Affordability Scheme – that provide additional housing stock. But we will always need housing tenure forms that operate outside the market for the poorest and most disadvantaged Australians.  
You might also want to read: <a href="/expert-insights/joe-hockey-treating-australian-public-as-fiscal-fools-ahead-of-the-federal-budget">Joe Hockey treating Australian public as fiscal fools ahead of the federal budget</a>
 
SHANE OLIVER - Head of investment strategy and chief economist, AMP Capital <img src="/images/stories/2014/02/21/shane-oliver-profile.jpg" alt="shane-oliver-profile" style="float: right;">
There is a possibility that negative gearing might be tightened, but at this stage I’d only put it in the possibility camp. I think it’s probably unlikely. I can’t see any other changes that directly affect housing. The government has virtually ruled out including family homes in the means test for pensions, and it’s unlikely that they’ll remove CGT tax-free status for the family home.
Most implications will be indirect. That’s the biggest risk. The government is fairly intent on significant fiscal tightening to deal with the “budget emergency.”
That means tougher means testing and reducing eligibility criteria for family benefits. We might see possible tax hikes for high income earners and numerous cuts to the level of government spending. Those changes could adversely affect spending power in the economy and could affect housing demand. The risk is that they’ll get carried away. There’s tough budget talk prior to every budget. Often things aren’t quite as tough as you’ll expect, but the rhetoric has been quite a bit tougher this time.
[The Coalition] have painted themselves into a corner, saying that there’s an emergency. Having talked up the budget crisis, there’s a bit more pressure than normal for the government to deliver.
There is a potential upside for property in the sense that if the budget is too austere and too aggressive with cut backs, it may mean lower interest rates for a longer period of time. [AMP Capital] have predicted a September or October rate hike, but we’d be inclined to think that that won’t occur if the budget is too tight. And if upper income tax rates rise, people might more inclined to negatively gear.
You might also want to read: <a href="/expert-insights/what-do-we-need-to-see-from-the-federal-budget-the-experts-have-their-say">What do we need to see from the federal budget? The experts have their say</a>
Article continues on next page. Please click below.
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ROBERT SIMEON - Director of Richardson Wrench Mosman and Neutral Bay <img src="/images/authors/fullbody/Robert-Simeon.png" width="150" style="float: right;">
Historically real estate has been a minor player come budget time. The government of the day prefers to address the industry from more of a macro positioning, given that is by far an easier option when compared to a microeconomic analysis. For all intents and purposes, if the real estate/housing demographic were that essential then it would be fair to say there would actually be a designated Housing Minister which is not the case with the Abbott led government.
Landlords and investors can breathe a sigh of relief - negative gearing won’t be touched, although given the recent Commission of Audit it would be fair to say at some time in the future this will come under much greater scrutiny. When one looks at the real estate/ housing markets there is the one common theme; record high rents and record high average prices across the board. Again this is easy to disguise as this will be camouflaged with macroeconomic dialogue.
Infrastructure will be front and centre given the recent COAG meeting endorsed the compilation of an asset sales list that would see them attain federal funding based on these sales for a massive infrastructure spend. The only problem with this is that the infrastructure expenditure is already decades behind where it should be today.
Sadly there won’t be any incentives for the housing construction industry which is seriously lagging behind where it should be today – this is reflective with what is happening to property values and rents. The Australian Bureau of Statistics (ABS) released their building approvals data to March 2014. It showed that in the past year 188,070 houses/units were approved yet the real figure is that Australia needs to be building over 300,000 each year to get close to meeting demand.
The latest ABS figures identify that total household debt in Australia stands at $1.84 trillion as at December 2013 – this is equivalent to $79,000 for every person living in Australia and is the highest amount ever recorded for the last 25 years.
Foreign ownership of Australian residential real estate should and must come into budget considerations given the government restrictions are weak and at best need tightening.
As I mentioned previously, all the machinations pertaining to the property industry will be covered with macroeconomic spin. The budget is all about the government’s financial positioning which will be hinged to weak productivity, an ageing population and falling terms of trade.
So expect the focus to be on government debt and how we all will be expected to lend a hand to correcting this economic anomaly. Just don’t mention microeconomics.
You might also want to read: <a href="/expert-insights/investing/budget-week-is-all-about-huff-and-puff">Budget week is all about huff and puff</a>
LEANNE PILKINGTON - General Manager, Laing+Simmons<img src="/images/2014/05/12/pilkington-profile.jpg" alt="" style="float: right;"> 
Affordability issues have come to the point where they are more than simply a barrier for first home buyers looking to enter the market. People in this bracket are increasingly dismissing even obtaining a mortgage as a lost cause.
While existing property owners welcome reports of rising prices and investors continue to participate actively in the market, the pessimism among first home buyers is palpable. There is a definitely a feeling among this sector that property is simply a pipedream, one that might never come true.
The flow-on impacts in the coming years and decades could be huge and potentially disastrous. It’s time Governments at different levels recognise and respond to the challenges first home buyers face and to work with industry to generate new policies capable of providing optimism and driving first home buyer activity.
One of the key barriers to more first home buyers being able to participate in the market is the difficulty many have in accumulating a deposit.
Perhaps there is scope for some form of Government-backed savings scheme whereby those first home buyers serious about saving a deposit can access tax advantages or even Government contributions to match their own, be it means tested or otherwise. Another potential avenue for Government to investigate might be to enable first home buyers to access their superannuation to contribute to their deposit.
Encouraging investors to refresh their portfolios where it’s appropriate to do so might serve to release more stock to the market. While these ideas may vary in terms of feasibility and practicality, particularly as we prepare for a difficult Federal Budget, the point is clear: something needs to be done.
You might also want to read: <a href="/expert-insights/investing/the-reias-10-point-wishlist-for-the-federal-budget">The REIA's 10 point wishlist for the federal budget</a>
CATHERINE CASHMORE - Independent market analyst<img src="/images/authors/fullbody/Catherine-Cashmore.png" width="150" style="float: right;">
As we approach the federal budget, once again we have to endure another round of economic nonsense as the Treasurer tries to convince ‘ordinary’ Australians that the country is ‘running out of money’ – facing a ‘budget crisis.’
There is no evidence and no economic wisdom that indicates running a surplus is good for the economy. 
This is something <a href="https://www.youtube.com/watch?v=D0iFiUfDqSw">Steve Keen</a> does an excellent job of demonstrating in a recent lecture given in Sydney, in which he shows the inevitable consequence to GDP should our Government attempt to do so.
Economic orthodoxy stubbornly insists on austerity measures to pay down government debt by imposing onerous taxes on its working population.
There are lessons that should have been learnt following the Great Depression in the 1930s. When the government tightens its belt for no other reason than a vain attempt to ‘spruik’ a surplus, it has the unwanted effect of withdrawing money from the economy – leaving the private sector (the working class population) to pick up the slack.
Therefore “repairing the [government] budget” is not putting the fate of  Australians on “the right track.”
It is the government’s responsibility to make sure our monetary system works for the population, by spending enough money into the economy to keep employment and productivity thriving. 
Catherine Cashmore's comment is an edited extract from <a href="/expert-insights/investing/economic-nonsense-and-the-consequences-for-future-generations">her column</a>. 
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Property Observer exclusive: Industry experts on Australia's 2014 federal budget

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Mother’s Day is upon us once more. Unfortunately, most mums will be saddled with supermarket chocolates yet again - and let’s be honest, we’re going to eat most of those anyway.
But what if you could get your mum a present she actually deserves: her dream home?
Property Observer surveyed the office to see what our fellow sons and daughters would buy their mums, if money was no object.
ROOM FOR THE ANIMALS: <a href="https://www.kayburton.com.au/property/1-21-sandy-point-road-somers" target="_blank">1-21 SANDY POINT ROAD, SOMERS</a>
Our editor Jennifer Duke nominated this country homestead in Victoria's Somers. 
<img src="/images/2014/05/09/somers1.jpg" alt="">
“When I moved to Victoria for Property Observer, one of my major upsets was having to leave my family and loved ones back in New South Wales,” said Jennifer.
“I'd bring them to this beautiful homestead in Victoria, just one hour from Melbourne. It's far enough to be quiet and peaceful, and close enough to visit.
“Mum would probably want to modernise some aspects to her taste, and add air conditioning, but there are tiles throughout - a luxury that British people love having in Australia - huge windows that she could look out of to paint her watercolours, and a beautiful walk in wardrobe to house all of her clothes.”
<img src="/images/2014/05/09/somers2.jpg" alt="">
The home is set on a sprawling estate, perfect for the family dogs.
“It's also on plenty of land - an absolute must for my mum and her beloved black labradors who enjoy long rambling walks together. I would never choose anywhere with a small yard, and this property sits on an incredible 220 acres. It also has beach frontage, and a dam, which would keep the pups (Colah and Deezel) very happy and reduce the many hours spent getting to the Bayview dog beach in Sydney.
"This home, called Western Park, has six bedrooms - enough for all three of us kids and other assorted relatives come Christmas time. I can imagine us all have a morning bucks fizz on the wrap around verandah, or a nice merlot and a very loud conversation that no neighbours could complain about.”
Assuming her parents can forgive the elephant and kangaroo statues around the property (as seen below), Western Park would make the perfect property for Jennifer’s mum.
<img src="/images/2014/05/09/somers3.jpg" alt="">
“Most importantly, there are gardens, fruit trees and a vegie patch. My mum is a prolific vegetable grower - even when visiting from interstate she usually hands me a bag of cucumbers and a jar of chutney to take back to Melbourne with me - and I can't see her ever giving this up.
“I know mum has expressed desires to have a dog rescue where she could home strays. This suits perfectly, with functional sheds across the property and yards that ‘incorporate holding paddocks and sorting pens, as well as sophisticated weighing and veterinary facilities’.
“And, finally, who wouldn't want to drive up a kilometre long Cyprus tree-lined drive, with views, to visit their mum.”
WIDE OPEN SPACES: <a href="https://raywhitelongreach.com.au/qld/longreach/1100298/" target="_blank">SANDLEWOOD ESTATE, LONGREACH</a>
Jason was another who picked a big country home for his mum.  This six bedroom semi-rural house is set on five acres.
<img src="/images/2014/05/09/longreach.jpg" alt="">
With two separate living areas, a formal dining room and a small sitting room, there’s plenty of space to entertain indoors.
<blockquote>
A big Queenslander on acreage — mum needs the wide open spaces — in the town of Longreach, where she grew up and can be close to her dear-old mum. – Jason
</blockquote>
There’s also a sizeable enclosed verandah, with screened windows and polished timber flooring. At the centre of the home sits a large kitchen with an island bench.
<img src="/images/2014/05/09/longreach2.jpg" alt="">
Outdoors, there’s also a barn style work shed, lawns and an aviary for the chooks.
OLD WORLD APPEAL: <a href="https://www.hockingstuart.com.au/15_RAGLAN_STREET_DAYLESFORD_VIC_3460" target="_blank">15 RAGLAN STREET, DAYLESFORD</a>
Haylee chose some standout regional homes for her mum. This Daylesford estate she picked out has an eight bedroom mansion in addition to a four bedroom homestead.
<img src="/images/2014/05/09/daylesford1.jpg" alt="">
The 1853 homestead includes all the furnishings required of a stately period home, with claw footed baths and an open fire place. There’s also a conservatory, a central living area, a commercial kitchen and separate formal dining room.
The eight bedroom manor has been used as accommodation in the past by tourists visiting Victoria’s spa country. Each of the eight bedrooms comes with an en suite, with the listing agents saying that at full capacity the manor house has room for 16 people. The manor house also has a central living room with a double sided fireplace.
<img src="/images/2014/05/09/daylesford2.jpg" alt="">
 
However, not all mums are after a country estate. Click the next page to see the beach side properties we think our mums would love.
 
 
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 BEACH VIEWS AND WARM WEATHER: <a href="https://www.realestate.com.au/property-house-nsw-byron+bay-114275183" target="_blank">144 LIGHTHOUSE ROAD, BYRON BAY</a>
Property Observer’s production editor Jake Robinson selected a four bedroom home in Byron Bay with a $5.5 million plus price tag.
<img src="/images/2014/05/09/jake1.jpg" alt="">
“My parents have been going to Byron Bay on a regular basis for over 30 years now,” said Jake.
“No doubt the warmer climate, cafes and beach would make an appealing change for them, and for my own selfish reasons, a great place to visit.”
<img src="/images/2014/05/09/jake2.jpg" alt="">
The house has glass doors offering a terrific view of Byron Bay, while Jake’s mum would enjoy a sea view from the bath in the master bedroom’s en suite.
“It was a tough choice from the stock currently available but 144 Lighthouse Road got the nod due to its ample sized master bedroom, 12 meter swimming pool and aquarium in the foyer,” he said.
<img src="/images/2014/05/09/jake4.jpg" alt="">
PERTH WITH A POOL: <a href="https://www.realestate.com.au/property-house-wa-cottesloe-116638647" target="_blank">28 JARRAD STREET, COTTESLOE</a>
Kirsten just missed out on nabbing this Perth home on Cottesloe’s<a href="https://www.realestate.com.au/property-house-wa-cottesloe-116638647" target="_blank"> </a>Jarrad Street.
<img src="/images/2014/05/09/cottesloe.jpg" alt="">
“This one has just been snapped up by a lucky buyer, but if I could, I would have bought it in a heartbeat for my mum back in Perth,” she said.
“She’s always wanted to live in the swanky streets of Cottesloe.” 
<img src="/images/2014/05/09/cottesloe1.jpg" alt="">
“This period home is equal parts charming and lavish, and there’s a pool for when I come to visit!”
The three bedder set on 531 square metres includes Jarrah flooring throughout, pressed ceilings and open gas fireplaces.
<img src="/images/2014/05/09/cottesloe3.jpg" alt="">
“Plus, she used to point this street out to me when I was little, as it shares a name with my brother,” said Kirsten. “Perfect, no?”
BEACHSIDE LUXURY: <a href="https://www.rtedgar.com.au/?pagecall=property&amp;propertyID=2621625&amp;agentID=2634&amp;realestate=BRIGHTON_VIC_3186&amp;showGoBack=true" target="_blank">BRIGHTON</a>
As for my mum, when asked about her dream property, she delivered quite the list of requirements. I think I’ve managed to check most of the boxes with Merrybrae, a 1920s era home in the beachside suburb of Brighton.
<img src="/images/2014/05/09/brighton1.jpg" alt="">
A four bedder set on 1,040 square metres, it might be a little big for Mum and Dad, but with low maintenance gardens and paved outdoor entertaining areas, it wouldn’t be too labour intensive to care for. There’s plenty of room for the prized poodle and the beach is just down the road for the daily run.
<img src="/images/2014/05/09/brighton2.jpg" alt="">
What really seals the deal is the two sizeable kitchens. My mum has always dreamt of a home with an indoor kitchen and another outdoors – what Malaysians and Singaporeans refer to wet and dry kitchens.
The indoor one can be used for serving guests, while the outdoor one is where Mum can cook her (top notch) fish curries without offending Dad and the dog.
<img src="/images/2014/05/09/brighton3.jpg" alt="">
While buying a luxury home for our mums might never make the journey from daydream to reality, let's hope we can do a bit better than supermarket chocolates this Sunday.
Happy Mothers Day from Property Observer.
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Property Observer’s Mother's Day property picks

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Former conveyancer Pamela Redford’s professional licence has been suspended by the Victorian Civil and Administrative Tribunal after she failed to submit audited trust accounts to Consumer Affairs Victoria.
The 59 year old’s company, Ambiance Property Group Pty Ltd, has also had its licence suspended.
The Victorian Civil and Administrative Tribunal (VCAT) said that Redford had failed to act in accordance with the Conveyancers Act 2006 and other relevant regulations. Redford and Ambiance were also uncooperative when working with inspectors.
Redford and her company did not submit audited trust accounts in 2010 and 2011, despite warnings to do so from Consumer Affairs Victoria. She and Ambiance held conveyancers’ licences from June 2009.
After Consumer Affairs Victoria investigated the missing accounts in 2012, they found a deficiency of $403, which Redford repaid immediately. However, she then failed to submit the required accounts, despite telling Consumer Affairs Victoria that auditors had been appointed. She also failed to hand over reports for 2012 and 2013.
Inspectors visited her company’s offices several times but could not gain entry. Consumer Affairs Victoria acted after being unable to make suitable arrangements with Redford.
After the suspension period is over, Redford and her company will remain unable to operate a trust account or deal with trust money as a condition of any conveyancing licences, and may only resume doing so at the discretion of the Director of Consumer Affairs Victoria.
To avoid having their conveayancing licences permanently cancelled, Redford and Ambiance must have outstanding trust accounts audited and lodge monthly reconciliations by 30 October 2014.
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Glen Waverley conveyancer’s licence suspended over trust accounts

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When it comes to real estate, first impressions count. But not every trophy home is a sprawling country estate or a full floor penthouse overlooking the Harbour Bay.
Sometimes, the most innovative homes in the country are tucked behind innocuous façades. Property Observer takes a look at three standout luxury residences that you’d never spot from the street.
ROSS STREET, TOORAK
<img src="/images/2014/05/09/front.jpg" width="451" height="451">
Designed by Melbourne architect <a href="https://www.robmills.com.au/" target="_blank">Rob Mills</a>, the face of this home is a far cry from some of Toorak’s more ostentatious entrances. With no windows facing the street at all, the home looks like little more than a concrete box with a timber panelled garage door. However, inside is a completely different story.
<img src="/images/2014/05/09/dzn_Ross-St-by-Robert-Mills-Architects-1.jpg" width="450" height="450">
The contemporary home is actually flooded with light, thanks to floor to ceiling glazed windows across the back of the house and all along the ground floor’s northern border. The home is dominated by a sculptural custom staircase, which winds upwards toward a large circular skylight.
<img src="/images/2014/05/09/dzn_Ross-St-by-Robert-Mills-Architects-11.jpg" alt="">
Minimalist interiors by <a href="https://www.hassellstudio.com/" target="_blank">HASSELL</a> and clever scaling allow light to be the major feature of this home. The house has polished concrete flooring throughout, while the frequent use of rectangles and squares in the fit out contrast against the curvature of the grand staircase.
<img src="/images/2014/05/09/dzn_Ross-St-by-Robert-Mills-Architects-8.jpg" width="450" height="646">
LIGHTBOX HOUSE, MELBOURNE
<img src="/images/2014/05/09/dezeen_Lightbox-House-by-Edwards-Moore_13.jpg" width="468" height="645">
Standing outside this small home in Melbourne’s inner suburbs, it looks like any other tiny single fronted brick cottage. But stepping back, one can see the house’s standout feature: a translucent roof that provides natural light for the home’s entire new upper level.
<img src="/images/2014/05/09/dezeen_Lightbox-House-by-Edwards-Moore_3.jpg" width="468" height="568">
Melbourne architecture and design firm <a href="https://edwardsmoore.com/" target="_blank">Edwards Moore</a> added a clean, contemporary upper level to the worker’s cottage. The light drawn in through the new translucent roof is carried through to the house’s ground level, thanks to white perforated metal floors that meet exposed timber rafters.
<img src="/images/2014/05/09/dezeen_Lightbox-House-by-Edwards-Moore_7.jpg" alt="">
The creative use of materials carries throughout the entire house, with a floating timber staircase and a black metal façade with standing seam cladding along the side of the upper level
<img src="/images/2014/05/09/dezeen_Lightbox-House-by-Edwards-Moore_1sq.jpg" alt="">
2 HARTLEY STREET, ROZELLE 
<img src="/images/2014/05/09/Rozelle-Terrace-House-01.jpg" alt="">
Another terrace cottage turned contemporary home, Sydney’s <a href="https://www.carterwilliamson.com/" target="_blank">Carterwilliamson Architects</a> dub this home the “Upside-Down Back-To-Front House” thanks to the home’s reversed entry.
<img src="/images/2014/05/09/Rozelle-Terrace-House-06.jpg" alt="">
Situated on a plot that falls from Hartley Street down a hill to Starling Street, the house previously was entered via the Hartley Street entrance.
Carterwilliamson moved the house’s entry to the bottom of the hill, allowing the residents to maximise the space on a narrow plot.The property now contains a studio over the garage, a protected courtyard, a garden and a sandstone lightwell in addition to the main house. 
Inside the main house, the contemporary fit out includes polished concrete floors, a hanging staircase and timber bench tops in the kitchen.
<img src="/images/2014/05/09/rozelle030.jpg" alt="">
The home’s most stunning feature though must be the house’s master ensuite, pictured below. Inserted in the house's existing pitched roof, the curved underside of the loft-style ensuite is timber clad and hangs over the bedrooms.
<img src="/images/2014/05/09/ArchiShot_007819.jpg" alt="">
Main photo courtesy of Orin Zebest/Flickr/<a href="https://creativecommons.org/licenses/by/2.0/" target="_blank">Creative Commons</a>.
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Hidden gems: The trophy homes hiding in plain sight

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The stamp duty exemption threshold for West Australian first home buyers has been cut from $500,000 to $430,000 in the state’s 2014 budget.
From July 1, those purchasing established properties priced under $430,000 will receive a full stamp duty exemption. Concessions will phase out progressively for purchases between $430,000 and $530,000. Previously, first home buyers still received some stamp duty concession for properties priced up to $600,000.
No changes have been made to stamp duty concessions for first home buyers of new house and land packages. If the vacant land is valued under $300,000, the first home buyer will not be required to pay any stamp duty. Purchasers of land priced up to $400,000 will be eligible for some form of stamp duty concession.
The Barnett government’s 2014 budget papers claim that stamp duty concessions for West Australian first home buyers are still relatively generous, with only Queensland first home buyers paying less duty on the purchase of a $450,000 established home.
The government has also announced a 10% increase in land tax across the board.
The lowered stamp duty concessions are forecast to save the government $222 million in the four years to 2017-18.
In last year’s budget, the West Australian government cut the First Home Owners Grant for established properties from $7000 to $3000. The grant has remained unchanged in this year’s budget. First home buyers of properties valued up to $750,000 are eligible for the $3000 grant for established properties and $10,000 grant for new properties. The $750,000 threshold is pushed up to $1,000,000 for those purchasing properties above the 26th parallel (around Shark Bay).
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Western Australia’s 2014 budget: First home buyer stamp duty concessions cut

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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