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Stale stock on the market in Melbourne ballooned from 19,800 to 31,600 properties in the last three months, according to Prosper Australia spokesman David Collyer. He says stale stock is particularly accumulating in new suburbs on the city fringe.
Collyer defines stale stock as unsold property on the market for more than 60 days.
“Gardens have been primped, interiors polished up, advertisements run, open for inspections attended, auctions conducted and … no sale,” Collyer notes, arguing that it points at a major correction, as the supply and demand equation would need to be restored by price slides across Melbourne.
“Hardest hit are the first-home buyer hunting grounds in Melbourne’s west, with over 5,600 brand-new houses stale and more being added daily.”
In Derrimut, Werribee and Point Cook, the postcode 3030, there were 2650 stale listings, in the 3029 postcode of Tarneit, Truganina, Hoppers Crossing some 1932 sale listings and at Roxburgh Park and Craigieburn, postcode 3064, some 1095 stale listings.
“To give these figures perspective, only 564 Point Cook properties sold in all last year,” Collyer said.
“This overhang is massive. Developers miscalculated. They built way ahead of buyers and have now come to a grinding halt.”
He forecast this could lead to abrupt and widespread unemployment in the construction trades as projects are completed and workers laid off.
The stale stock figure was collated by Prosper Australia from data published by SQM Research. Prosper was the tax reform group that called for a "home buyers' strike" in March.
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jchancellor-FAypfDUnLy

Stale housing stock builds up on Melbourne's outer fringe

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The federal government’s upcoming tax summit will look at tax arrangements affecting the housing market with possible changes to state taxation arrangements including stamp duties.
Congestion taxes are also on the agenda in the discussion paper, which aims to inform public debate on continuing tax reform in the lead up to the October 4-5 tax forum.
The discussion paper outlines a range of ideas that were raised in the Australia’s Future Tax System Review presented by then Treasury boss Ken Henry to the Rudd government in late 2009.
The discussion paper includes a section on each of the six sessions that will be held at the forum: personal tax; transfer payments; business tax; state taxes; environmental and social taxes; and tax system governance.
Some 47 participants and 21 observers have been selected for direct invitation, with another 56 participants and five observers chosen by the leaders of invited organisations.
A further 52 participants and 20 observers will be selected through an expression of interest process.
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Housing tax arrangements on October tax forum agenda

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The Melbourne Open House scheme features 75 buildings that will be open this year on its July 30-31 weekend.
The scheme comprises mostly offices, but the residences on show include the ground floor and gardens of Bishopscourt (pictured, photo by Ken Ng), the 1853 East Melbourne mansion. Built for Bishop Perry, first Anglican Bishop of Melbourne, the bluestone house is the oldest in East Melbourne.
Tickets were required, and have now all been allocated for the <a href="https://www.propertyobserver.com.au/trophy-homes/a-work-of-art-in-southbank/2011072750908" title="Work of art in Southbank" target="_blank">Triptych </a>at Southbank, a 24-level apartment tower designed as a series of eight three-storey "vertical villages" that aim for a sense of community.
There’s also be an opportunity to see two city properties built as homes but no longer lived in. The top floors of the 1887 ANZ Gothic-style bank in Collins Street, once the home of George Verdon, general manager of the bank for which it was built, will be part of tours that will include the richly decorated banking chamber.
Parts of three Charles Webb-designed terraces in Tasma Terrace, now home to the National Trust, will also be open.
Inspired by similar programs initiated in London and New York, <a href="https://www.melbourneopenhouse.com.au" title="Melbourne Open House" target="_blank">Melbourne Open House</a> has installed its own ambassador, Grand Designs host and architect Peter Maddison. Maddison favours the Town Hall, Lyons Architecture Office and the old Land Titles Office, which has a fireproof vault that Maddison marvels is an interwoven three-storey vertical space with narrow walkways and spiral stairs all made from hot riveted steel, solid-slate shelving and bluestone. It has not been touched since the 1880s.
“You can understand the emphasis we place on freehold land ownership when you visit this one," Maddison told The Age.
Of the 75 buildings on offer, entry to six was selected by earlier ballot.
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Melbourne Open House scheme offers peek behind closed doors

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House prices continued to stagnate or decline across the country in the June quarter, with only Sydney's house, Darwin’s unit and Adelaide unit markets showing the faintest positive sign of life. Sydney’s 0.1% rise to $644,658 puts it nearly $100,000 above the national median house price.
The median national house price has fallen 0.6% to $546,121 during the June quarter, according to Australian Property Monitors, with national unit prices down 0.8% to $404,753.
It represents a 2.4% annual decline for houses and a 2% annual decline nationally for units.
Melbourne remained stagnant over the quarter but was down over the year to June by 2.1% to $554,610. Unit prices in the Victorian capital fell marginally in the quarter by 0.7% to $394,842.
Brisbane house and unit prices fell for the second consecutive quarter, resulting in a yearly fall of 4.9% to $446,778 for houses and a fall of 3.9% for units $359,865. However, APM suggested the city continues to recover from the general disruption to its housing market as a consequence of the January floods.
Canberra’s house and unit markets both recorded surprising falls in the quarter, with house prices dropping 2.8% to $551,065, putting an end to a run of positive growth, and units falling 1.3% to $405,000.
“In the June quarter diverse local conditions had a more significant impact on median prices in each city, with these individual factors expected to have continued variable effects on growth in each market,” says Dr Andrew Wilson, senior economist at Australian Property Monitors.
“This is in contrast to the effect of national market conditions that have impacted prices across the board until recently.”
“The prospect remains however of increased buyer activity emerging through the spring selling season, as early signs are emerging of increased first home buyer and investor activity in most markets, albeit from a low base, that will help to encourage market activity and confidence,” Wilson says.
<img src="/images/stories/apmjuly281.jpg">
<img src="/images/stories/apmjuly282.jpg">
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Property prices flat or declining in June quarter: APM

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It will take at least another decade of flat house prices coupled with income growth for the Australian housing market to regain an affordable status, according to the AMP/ National Centre for Social and Economic Modelling income and wealth report.
The report found median house prices grew 147% to $417,000 Australia-wide while median after-tax incomes only increased 50% to $57,000 from 2001 to 2011.
It pushed the price-to-income ratio from an affordable 4.7 to a severely unaffordable 7.3.
In 2001, more than half the suburbs in Australia’s five major capital cities were affordable but now just 4% are affordable, according to the report entitled The Great Australian Dream – Just a Dream?
Not one of the affordable suburbs was in the inner city.
“Sydney’s inner ring takes the dubious prize of the most expensive property market in Australia, with a median price of $685,000,” the report says
“Inner-ring Melbourne is some distance behind as the second most expensive location at $625,000. Brisbane has the most affordable inner-ring suburbs.”
It found that middle-ring suburbs are both cheaper and more affordable than outer-ring suburbs, the most likely explanation being that houses being purchased in the outer suburbs are newer and much larger.
The report concludes that young buyers are experiencing the most housing stress.
It notes first-home buyers – 17% of whom spend more than half their after-tax income on housing – have been forced to buy into a red-hot housing market and crystallised the housing gains of the older generation, who face very little housing stress.
The mortgages of first-home buyers more than doubled over the 10 years, from an average of $131,000 in 2001 to $280,000 in 2011.
Sydney sits as the most expensive to buy a house, with a median price of $510,000, while Hobart is the cheapest, with a $326,000 median price.
A breakdown of housing stress was provided, showing Sydney as the most stressed city on all measures used, with 9.4% of Sydney households paying more than 50% in housing costs, and 11% of lower income Sydney households paying more than 30%.
Tasmania and South Australia are the least housing-stressed states.
Sydney households have the highest proportion of those in severe housing stress, with 9.4% paying more than half of after-tax income on housing costs, compared with 5.3% in Melbourne.
Sydney households face the most housing stress, with 28% spending more than 30% of after-tax income on housing expenses. Perth comes in second at 23% followed by Brisbane (19%), Melbourne (18%), Adelaide (16%), ACT/NT (17%) and Hobart (13%).
Sydney’s median house price is 8.4 times the median income. Melbourne houses are at 7.9 times the median income, Adelaide at 7.7, Perth at 7.2, Brisbane at 6.7, Hobart at 6.5 and Canberra at 6.2. The median house prices in Canberra, Melbourne and Perth is $485,000, in Darwin it is $454,000, in Brisbane $439,000 and in Adelaide $385,000.
The report notes Australia exhibits neither crisis levels of debt nor a housing over-supply problem, so to achieve an affordable housing market, median house prices need to rise more slowly than incomes.
It notes there are early indications that Australian house prices are slowing, but concludes that if median prices remain at current levels and after-tax income continues to grow at trend, it would take nearly nine years for housing to become affordable.
The report found that declining affordability was not confined to the capital cities.
Areas outside of capital cities in four out of Australia’s seven states and territories have experienced the greatest rate of house price growth.
In non-capital city areas, Queensland has the most housing stressed households.
“Although Australia is now one of the most unaffordable developed countries in the world in terms of housing, there are still many people entering the property market or preparing to do so,” Craig Meller, managing director of AMP Financial Services, says.
“While Australian first-home buyers are under the greatest housing stress, this group is finding ways of achieving their goal in different ways.
“Many are choosing to save money by living with their parents longer while others are choosing to buy an apartment instead of a house,” Meller says.
“Our history of determination in the face of adversity is seeing a new generation carve out their financial futures.”
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Housing unaffordable for at least a decade: AMP

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Investors are currently spoilt for choice if you have two lots of $9.95 to spend.
Australia’s two leading property investor magazines have simultaneously published their annual guides on the best 100 suburbs in which to buy.
But forget the hot 100 and the top 100, because we can just home in on the 21 locations that happen to appear in both lists. Alphabetically they start with Ainslie in the ACT and end with <a target="_blank" href="/news">Warrnambool </a>in Victoria.
Ainslie is viewed as well located, offering good services and despite 12% average annual growth over the past decade is still relatively affordable.
Warrnambool, with prospects as a town in the centre of a regional Victorian district with gas-fired and geothermal power stations, plus wind farms, was forecast to have a strong unit market.
Townsville, Gladstone and Rockhampton, plus the Surat Basin mining towns of Toowoomba and Chinchilla were the Queensland regional listings. It was noted that houses have gone up 15% over the last year in Chinchilla, and rental yields are at a very healthy 7.25%. Paddington was Brisbane’s only joint entrant, given its easy CBD access and lifestyle at affordable pricing for unit landlords.
The three Sydney suburbs to score on both lists were Dulwich Hill and Tempe, in the inner west, Baulkham Hills in the northwest. NSW’s regional cities were Bathurst and Port Macquarie.
Nothing in Perth, but WA did get a mention with Geraldton, the regional boom town with strong resources, agriculture and fishing.
Melbourne dominates the list, with the five entrants of Broadmeadows, Thornbury, St Kilda, Brunswick and Balaclava.
South Australia was represented by Kensington and Port Noarlunga, respectively four and 27 kilometres from the Adelaide CBD.
The lists represents the shared outlook of some two dozen or more of the property industry talking heads who’ve assisted Australian Property Investor and Your Investment Property compile the lists.
The YIP top 100 was made up of 25 suburbs in Sydney, 12 from Melbourne, seven from Perth, eight from Adelaide, five from Canberra, three from Hobart, two from Darwin and 26 from regional areas.
In the API list, 17 out of the 100 hotspots are within a few kilometres of the Melbourne CBD.
Analysts who helped compiled the lists included Charles Tarbey, chairman of Century 21, Tim Lawless, research director at RP Data, valuers WBP and Herron Todd White and Terry Ryder, director of www.hotspotting.com.au. Other experts include Monique Sasson Wakelin and Margaret Lomas.
The rankings were typically compiled based on affordability, accessibility, amenities, demographics and population growth, employment opportunities, rental yield and rental growth potential.
Given there are 15,000 suburbs across Australia, getting 21 that match is quite some feat, although Alexandria in Sydney, which was ranked as the best investment location in the YIP list, didn’t make it onto the API list.
Of course neither of the top 100 lists can be taken as providing all the complete due diligence necessary for buyers. And certainly not this fusion.
And Chinchilla, on the western Darling Downs, highlights just how fluid the outlook can be. It is now fleetingly caught up in the hendra virus outbreak, so presumably is is not as desirable now as it was when the lists were complied.
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Of 15,000 suburbs, 21 rise to the top as worth a look for investors

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Home prices and sales of new homes lost ground in recent months in the United States. The Standard &amp; Poor's Case-Shiller home price index, a major indicator of the US property market, showed house prices fell 4.5% in May.
Over the year, house prices were lower in every city except Washington D.C., where prices rose 1.3%.
Estate agents and builders say the debt-ceiling debate in Washington is rattling an already fragile market.
"If you're looking for the light at the end of the tunnel, we don't have it," David Blitzer, chairman of S&amp;P's index committee, told the Wall Street Journal.
"We all agree the market ain't going anyplace at all," Blitzer says.
On a month-to-month, seasonally adjusted basis, prices were up in nine cities, led by Washington (up 1.4%) and Boston, Massachusetts (up 1.2%). Prices in 11 cities were lower, led by Detroit, Michigan (down 3.4%) and Tampa, Florida (down 1.5%).
Separately, the Census Bureau reported that new home sales fell 1% in June from a month earlier to an annual rate of 312,000 units. That was weaker than many economists were expecting and puts the current sales pace below last year's total of 323,000 sales, which was the lowest annual total on record.
Economists said the housing market continues to be hampered by tight lending standards that are keeping buyers on the sidelines as well as high unemployment. The national rate now stands at 9.2%. The political battle between Republicans and Democrats in Washington over raising the debt ceiling has injected fresh worries to the market.
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House prices slide further in US

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The simmering five-year war of words between property analyst Louis Christopher and Real Estate Institute of Victoria boss Enzo Raimondo has flared again. The dispute centres on the reliability of home sales data and who controls their publication.
And The Age newspaper sits in the middle of the barney yet again.
"What is happening to real estate information in Victoria is a disgrace,” Christopher says in his latest SQM newsletter.
“The Melbourne auction clearance rates that are currently being published by the REIV are inaccurate and misleading.
“These clearance rates are providing a deceptive representation that auctions are a successful way for vendors to sell real estate. The reality is they are not nearly as successful as what is purported.”
He was responding to Raimondo who noted on the institute’s website on July 21 that for the previous two Sundays, The Age had published articles questioning the REIV’s collection and reporting of auction and private sales results.
Raimondo noted that “to support one article, Sydney-based researcher Louis Christopher was quoted as saying the clearance rate is inaccurate and misleading. Mr Christopher is a past employee of the Fairfax-owned data company Australian Property Monitors (APM) who left that company’s employ under a cloud and has a history of disputing REIV research.”
That history dates back to 2006, when Christopher accused the REIV and “some of its inner circle of crooked agents” of “grossly unethical behaviour” when it came to auction result coverage.
Christopher accused the REIV of reducing the “level of bad news in the marketplace by controlling the information provided to the media” and making “a profit out of the data by reselling it back to real estate agents.”
An article written by Crikey in 2006, “<a href="https://www.crikey.com.au/2006/09/11/has-fairfax-kicked-out-a-fearless-commentator-for-doing-his-job" title="Has Fairfax kicked out a fearless commentator?" target="_blank">Has Fairfax kicked out a fearless commentator for doing his job</a>?”, gives the details of the dispute.
Christopher, who was not to return to his Fairfax job after the attack, now owns and runs SQM, an independent property advisory and forecasting research company.
He now suggests that in 2006 senior Fairfax executives chose to ignore the mounting evidence against the REIV.
“I believe the reason why they did this was for the protection of The Age's real estate advertising revenues – by ensuring certain organisations such as the REIV that could threaten those revenues by wielding their influence over real estate agents were kept on the side.
“But that's just my insider's opinion,” he says.
Christopher notes that The Age is now allowing the poor auction results allegation to be repeatedly reported over recent weeks.
“I am not sure, other than I suspect that the REIV, through its portal realestateview.com, are increasingly seen as being on an opposing team to The Age,” he says.
“Importantly though, it should be noted that [Age journalist] Chris Vedelago is thankfully doing his job, and I also know that Chris is seriously and personally interested in exposing these serious issues surrounding auction reporting.
“I'd say this is also the case with his editor, and perhaps that is all there is to it.
“And whatever the motives may be right now, The Age should be commended for bringing this to the attention of the wider public.”
Christopher’s spray ended by debunking the suggestion that non-disclosure of real estate pricing was a right of the vendor due to privacy.
“This must be the most devious reason given for not forcibly retrieving results from the industry,” Christopher says.
“You see, auctions are a public event. That means that what has transpired at the auction is entirely open for the whole world to see. Not just those who attended the auction.
“The public are entitled to all market pricing information including sales prices.
“To not provide them with this information enables crooks to deceive both buyers and sellers on what is considered fair market value for a property,” he says.
“Unfortunately what Enzo Raimondo and his institute seem not to be able to comprehend is that if we have a transparent housing market with reliable information that is easily available to the public, that will actually breed confidence into the market.
“Both buyers and sellers will be more active in the market because transparent un-manipulated information is good for the whole industry.
“As opposed to now where hardly anyone knows what is going on in Victoria, opening up the channels for those with ulterior motives to take complete advantage of the information black out.
“I suspect that is what this battle that Chris Vedelago <a href="https://www.theage.com.au/victoria/agents-plot-to-seize-control-of-home-sales-data-20110723-1hub9" title="The Age" target="_blank">wrote about last week</a> is all about.
“The battle is for information- who controls it and at what price.
“Sadly, for the Victorian public and indeed real estate agents, the battle has been all but won by the REIV and it this has been the case for a while now."
REIV communications manager Robert Larocca says in response the institute has used the same transparent methodology to calculate the clearance rate for about seven years.
“Every home we report sold is indeed sold,” Larocca says.
“The clearance rate is an indication of the market and should be viewed by people in conjunction with the attendance at relevant local auctions to form a view of the market in the suburbs they are buying or selling in.
“Consumers and media can see that the REIV's auction statistics are the most comprehensive and timely available, for example, last weekend The Age reported that the REIV provided 421 auction results (now up to 486) whilst APM only had 227.
“The system provides a very clear indication of the state of the market as evidenced by the fact that over the past year or so the REIV has reported clearance rates in the 80s, 70s, 60s and now 50s,” Larocca notes.
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Weakened auction results coverage becomes a war of words: SQM vs REIV

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Two of the apartments in the Noosa triplex Sandpiper have been sold off the plan through Richardson &amp; Wrench Noosa for a combined $14 million.
The agency has been marketing the three-bedroom apartments since 2009 and now has the Hasting Street block’s penthouse apartment listed with a $10 million asking price.
The ground floor apartment was originally priced at $9 million and the mid-floor priced at $10 million, however these prices were negotiated back to the recent $14 million combined selling price.
“Noosa beachfront is absolute prime real estate which is recognised internationally as one of the most desirable locations in the world,” Richardson &amp; Wrench director Peter Butt says.
“Prices have been adjusted down over the last two years, and some special Noosa positions may never be this price again.
“Three-bedroom beachfront apartments on Noosa Main Beach are in extremely short supply, with only 26 true three-bedroom apartments available to the market,” Butt says.
“When the Sandpiper development is complete this will only make 29 three-bedroom apartments in total.
“These apartments have seen very little turnover, as some have been held by the original owners for over 20 years.
“In historical terms these apartments have increased in value at almost 20% compound growth; however the current market conditions have capped this growth for the time being.”
“Astute buyers who are familiar with our market have realised this and have made their move to secure property now rather than waiting to compete with the southern buyers who will be coming to Noosa over this spring and summer,” Butt says.
“These latest sales together with the $5 million sale to Mark Webber have signalled a strong resurgence in top-end Noosa property.”
Construction of Sandpiper in Noosa was initially scheduled for late 2009. It has been designed by Richard and Jane Foster. It was a 1960s block of six one-bedroom apartments and two shops. After engaging local architect Richard Foster, plans were submitted and subsequently approved for the construction of three full floor apartments and two boutique retail outlets. The units were consolidated at a $16 million cost over six years between 2001 and 2007.
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Sale of $14 million apartments as tide turns for better in Noosa

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The homestead block on the Lindsay Park property outside of Adelaide at Angaston, which was established as a Barossa Valley breeding farm by horse trainer Colin Hayes in 1965, has been withdrawn from sale.
But two farm or lifestyle lots have been listed for September 2 auction through Colliers International.
The 510-hectare property has now been divided into parcels, after it didn’t sell as a whole with an asking price of $14.5 million in late 2010.
When initially listed, it was suggested that given its international reputation, the property could attract racing players from Asia, the Middle East or the UK.
The main homestead, which will sit on about 200 hectares after the two neighbouring sales, has been estimated to be worth about $9 million.
David Hayes Racing general manager David Saegenschnitter says feedback during the expressions of interest campaign prompted the decision to split the property and put the pieces to September auction.
Colliers International agents Phil Schell and Jesse Manuel have the listing.
Lindsay Park was listed to allow Colin Hayes’s son David the opportunity to develop his Euroa, Victoria property and restructure his organisation.
The pared-down stud operation now known as Cornerstone Stud remains with Colin's grandson Sam Hayes, in the Barossa Valley neighbourhood.
Colin Hayes commenced his training career in 1947 in Adelaide and won his first Adelaide Trainers' Premiership in 1955-56 from his Surefoot Lodge stables at Semaphore in South Australia.
In 1965 the move to take horses away from the traditional training circuit of the city track was seen as visionary. In a 43-year career he trained 5,333 winners, including 524 Group or Listed winners.
His wins included two Melbourne Cups, four VRC Derbies, three Cox Plates, three Australian Cups, three Blue Diamonds, four Newmarket Handicaps, one Caulfield Cup, one Sydney Cup and the Golden Slipper Stakes.
Colin, who retired from training in 1990, died in 1999.
The Hayes family motto is :The future belongs to those who plan for it”.
"This is an opportunity for horse enthusiasts, lifestyle seekers, graziers and astute purchasers to own a piece of one of Australia's most prestigious country estates," Schell says.
Lindsay Park West with its renovated stone homestead is an 111-hectare holding with equine improvements. Lindsay Park East is an 161-hectare parcel of land with a cottage.
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Colin Hayes' SA equestrian property subdivided after failing to get past the post

Burgeoning South East Queensland developer <a href="https://www.apartments.com.au/developers/frank-developments">Frank Developments</a> is continuing to pad out its capital city development pipeline.

The developer, led by Frank Licastro, has its sights set on Kingsford Smith Drive in Hamilton, where it is planning <a href="https://www.apartments.com.au/new-apartments/avela-60-kingsford-smith-drive-albion-qld-4010">AVELA</a>, a 166-apartment development across three towers that tier down from 28 storeys to 19 and 17.

The towers will rise above the iconic Breakfast Creek Hotel.

Frank has brought on Melbourne architecture practice <a href="https://www.apartments.com.au/architects/rob-kennon-architects">Kennon</a> to design the building, conceived as a “defining architectural marker where the airport corridor meets the inner city.”

<img alt="First look: Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway" data-entity-type="file" data-entity-uuid="e787c64e-f0a4-4725-891e-e86b40ee5c5c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/AVELA.png?VersionId=1ulwuZ9w2vQ2td7v.J2zUI7Ih_DT4Kwz" />

Kennon describes the project as a once-in-a-generation opportunity.

"Positioned at the northern gateway of Brisbane's primary CBD corridor, this project represents a singular moment in the city's urban evolution, one that will not come again," the architecture practice said in the documents submitted to the Brisbane City Council.

"Where the airport and world beyond meets the city, the building will rise as a sculptural landmark, a defining piece of architecture that signals arrival into Brisbane and anchors the connection between the city and the communities to its north."

<img alt="First look: Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway" data-entity-type="file" data-entity-uuid="d572bf62-a98d-4847-95d0-889e3d3283e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/AVELA%20podium.png?VersionId=6.Ax4jBzTbY5ahm55iaMWNR03ODhDQSm" />

The development is centred around owner-occupier apartments, with a mix of two, three and four-bedroom residences designed to capitalise on city and river views.

Four basement levels accommodate resident parking, allowing the podium to prioritise pedestrian activity and public-facing uses like ground-floor retail, a cafe, a&nbsp;neighbourhood grocer, and a public accessible indoor pickleball court and event space.&nbsp;

There will be nearly 2,000 sqm of communal wellness and recreation facilities across three levels.

<img alt="First look: Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway" data-entity-type="file" data-entity-uuid="c5ac3cbf-3c11-4219-89f3-e12d9e0f9ffd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/AVELA%20podium%20A.png?VersionId=_.4zd1HLCKa1s6I_oxkY4NNqX6o3Yevn" />

&nbsp;

Frank Developments has increasingly focused on design-led residential projects across South East Queensland.

AVELA is Licastro's second on Kingsford Smith Drive following <a href="https://www.apartments.com.au/new-apartments/alba-92-kingsford-smith-drive-hamilton-qld-4007">Alba</a>, 85 apartments just down the road. The developer has <a href="https://www.apartments.com.au/new-apartments/mira-61-garfield-terrace-surfers-paradise-qld-4217">MIRA</a> and <a href="https://www.apartments.com.au/new-apartments/myst-burleigh-heads-270-the-esplanade-miami-qld-4220">MYST</a> on the Gold Coast, as well as <a href="https://www.apartments.com.au/new-apartments/murano-teneriffe-37-wyandra-street-new-farm-qld-4005">Murano</a> coming up in Teneriffe and <a href="https://www.apartments.com.au/new-apartments/bel-air-33-oxlade-drive-new-farm-qld-4005">Bel Air in New Farm</a>.

Joel Robinson

Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway

ASX-listed developer <a href="https://www.apartments.com.au/developers/stockland">Stockland</a>&nbsp;is continuing its push back into the new apartment market, filing plans for a prominent gateway site between Collingwood and East Melbourne.

The development giant, which moved back into the new apartment space when it announced Stanton Place in Sydney's Rosebery and have since filed plans for a 50-storey tower, are jumping into the off the plan Melbourne market.

They are hoping to create a mixed-use neighbourhood precinct for <a href="https://www.apartments.com.au/new-apartments/79-81-victoria-parade-collingwood-vic-3066">79-81 Victoria Parade</a>, replacing an existing commercial building with a scheme by <a href="https://www.apartments.com.au/architects/john-wardle-architects">Wardle</a>&nbsp;for 478 apartments,&nbsp;ground-floor retail, new public open spaces and a publicly accessible pedestrian laneway.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="72dbbca9-3918-4073-afad-a0c0c35be8e7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20pers.png?VersionId=bzMVUKKxvwuNK1m0v_td126Rgct32uk_" />

The design report identifies the public realm as a central driver of the proposal.

"Collingwood has limited access to high-quality parks and public open space, and the proposal delivers valuable new areas for respite, social interaction and fine-grain retail activity."

The development would deliver a diverse mix of housing, including studio, one, two and three-bedroom apartments alongside townhouse-style residences. Two basement levels are proposed beneath the development, providing resident and retail parking as well as extensive bicycle facilities.

Wardle's design draws heavily on Collingwood's industrial character, using articulated building forms, brickwork and robust materials inspired by the suburb's warehouse and manufacturing heritage. The built form has been broken into a series of smaller volumes to better respond to the surrounding streetscape while extensive communal gardens, rooftop amenities and shared resident spaces are integrated throughout the project.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="7b2135ed-65df-4253-ad53-f216f06bd467" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20podium.png?VersionId=l1B6Hqn8zs772VxH6L1fDPg0KHshan9v" />

The planning documents describe the existing office building as offering little engagement with the public realm, with the redevelopment intended to create a more permeable and active neighbourhood destination.

"The proposed scheme presents a significant opportunity to deliver a vibrant retail plaza and a local neighbourhood hub serving both existing and future Collingwood residents."

The 79–81 Victoria Parade site occupies a strategic location about 1.5 kilometres east of Melbourne's CBD, at the threshold between Collingwood and East Melbourne. It is well served by tram services along Victoria Parade and sits within walking distance of St Vincent's Hospital, Fitzroy Gardens, the Fitzroy activity centre and a broad range of employment, retail and hospitality destinations.

Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site

An 1880s timber cottage that has survived Kangaroo Point's transformation from riverside suburb to high-density apartment precinct is set to become the centrepiece of <a href="https://www.apartments.com.au/developers/zephyr">Zephyr Group</a>'s proposed Banksia development.

Rather than see the locally heritage-listed Alpha Cottage as an obstacle to navigate, plans integrate the landmark home into a new 18-storey residential tower, giving one of the suburb's oldest surviving residences a new role as the project's communal hub.

The development application covers a 1,177 sqm amalgamated site at 127-133 Lambert Street and 30 Shafston Avenue, where Zephyr Group plans to deliver 64 apartments above three basement levels. Designed by <a href="https://www.apartments.com.au/architects/joe-adsett-architects">Joe Adsett Architects</a>, the proposal carefully weaves the retained heritage cottage into a contemporary residential scheme, with the tower elevated above the historic building to preserve its presence within the Lambert Street streetscape.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="f9dc5bdb-d691-4c60-bf2b-c3ed405a3e75" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Banksia.png?VersionId=Jh4bjlewU.o8HXWt0V4KaFA_lPcF7KWM" />

Named after the native Australian Banksia flower, the project draws inspiration from its distinctive form through curved balconies, sculpted planter boxes and cascading subtropical landscaping that soften the building's profile.

As the design report explains: "The tower's identity is defined by its feature facade, drawing direct inspiration from the Banksia wildflower. The building departs from traditional rigidity through the use of elegant, GRC-moulded planter boxes that appear as if shaped by the breeze."

Plans propose 64 apartments, comprising 32 two-bedroom and 32 three-bedroom residences, across an 18-storey tower. Residents would have access to rooftop amenities including a swimming pool, spa, gym, sauna, private cinema, dining spaces and landscaped recreation areas, while more than half the site is dedicated to planting and open space.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="16041b5f-033e-47fa-8fbe-9886e072c1f2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pool.png?VersionId=kpx5w4EbLx0_TdWfDoD1vrSs0_cZ5Ao1" />

The heritage component is the defining feature of the proposal. Constructed in the early 1880s and occupied from at least 1883, Alpha Cottage is recognised by Brisbane City Council as an important surviving example of Kangaroo Point's nineteenth-century residential development and as a representative transverse-gable timber cottage. Despite extensive redevelopment across the peninsula, the building has retained a high degree of its original form and internal fabric.

As part of the redevelopment, the cottage will be carefully relocated a short distance within its original allotment to facilitate construction before being returned to a prominent position along Lambert Street. Original verandah elements will be dismantled, catalogued and reinstated, while significant internal features, including timber flooring, wall linings, joinery, doors, windows and hardware, will be retained. Later additions, including the enclosed rear verandah, will be removed to better reveal the building's original form.

Once restored, Alpha Cottage will accommodate the building manager's office, mail room and parcel facilities, providing an active everyday use that supports its long-term conservation rather than preserving it as a static display. The heritage strategy also maintains landscaped space around the building, allowing it to remain visually distinct beneath the new tower.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="43b027e1-576e-4624-a66c-7cc54ea8b7be" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/banksia%20tower.png?VersionId=2W6E2yfkj2AQlWlLeV986grA5zB9f817" />

The Heritage Impact Assessment concludes that "the proposal secures the ongoing occupation, maintenance and conservation of Alpha Cottage," finding the development would result in "no more than a minor impact on the cultural heritage significance" of the building while ensuring its long-term future.

Joe Adsett Architects have designed the tower to sit above the heritage building rather than overwhelm it, creating a clear visual separation between old and new. The development's flowing balconies, integrated planting and organic façade respond to Brisbane's subtropical climate while complementing the restored cottage below.

Banksia occupies a prominent corner in Kangaroo Point within walking distance of the Kangaroo Point Bridge, Brisbane River, ferry services, QUT, the CBD and the Woolloongabba precinct. The site also benefits from direct access to active transport infrastructure and sits within an area earmarked for continued higher-density residential growth.

Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage

Buying into a masterplanned community often means committing to a vision still years from taking shape. At <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>, that vision is already visible.

Residents have moved into the completed first stage, landscaped spaces are established, and the next chapter is now underway. Stage 1 has been completed and settled, with Stage 2 now selling off-the-plan.

Designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a>, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> combines attainable apartment living with sustainability initiatives rarely seen at this price point, including rooftop solar, battery storage and a resident EV-sharing program.

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Located on Schofi​elds Road, just moments from Tal​lawong Metro Station and Schof​ields Train Station, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been designed to appeal to a broad mix of buyers, from first-home purchasers looking for a foothold in Sy​dney's property market to downsizers seeking a connected, low-maintenance lifestyle.

<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been conceived as a thoughtfully planned masterplanned community that will evolve over multiple stages, with buyers now able to secure one, two and three-bedroom apartments within a neighbourhood that is already beginning to establish its identity.

One of the project's defining features is its focus on sustainability. Solar energy systems, battery storage and future EV charging infrastructure have been incorporated throughout the development, reflecting a long-term approach to both environmental performance and everyday convenience.

Sustainability sits at the centre of the development's vision, with solar energy systems, battery storage and future EV charging infrastructure integrated throughout the community.

That emphasis on future-ready living extends beyond the technology. Landscaped communal gardens, outdoor gathering spaces and plans for a future retail precinct aim to create a neighbourhood where residents can access daily conveniences without travelling far from home.

[smartcode_project:default project_id=149637 project_image_fid=351027]

The apartments themselves have been designed with liveability front of mind. Rather than chasing maximum density, the focus has been placed on creating practical homes with generous natural light, usable layouts and strong connections to outdoor space.

Importantly, these design principles have been applied consistently across the one, two and three-bedroom apartment offerings.

The appeal of <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> is also closely linked to its location within Syd​ney's rapidly evolving north-west growth corridor. Over the past decade, major infrastructure investment has transformed the area, with new transport links, business precincts and community facilities reshaping suburbs like Talla​wong and Schofiel​ds.

The agent says buyers are increasingly recognising the area's long-term potential.

"Typical buyers that we're finding across <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> especially are your first-home buyers, your investors, your upsizers as well as your downsizers," Hawes says.

Connectivity remains one of the project's strongest drawcards. Residents have access to both Tallaw​ong Metro Station and Schofi​elds Train Station, providing links to the Sydn​ey CBD, Norw​est Business Park, Macquari​e Park and other major employment hubs. Retail centres including Rous​e Hill Town Centre and Sch​ofields Village are also nearby, alongside schools, parks and future healthcare infrastructure.

[smartcode_project:default project_id=149637 project_image_fid=351031]

For Stage 1 resident Roji, it is the balance between convenience and comfort that has defined the experience of living at Kew.

"For me, it's a balance of quality and convenience," she says. "Everything I need is right here."

"If I wanted to catch the train, Scho​fields Station is just around the corner. Tallaw​ong Metro connects me to the city."

More importantly, she says, the development has delivered something that cannot be measured in floorplans or specifications.

"<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> feels like home."

[smartcode_project:default project_id=149637 project_image_fid=351024]

As Stage 2 enters the market, that lived experience may be one of the project's strongest selling points. Buyers are not purchasing into an untested concept or a future promise. They are joining a community that is already taking shape.

Ongoing investment in transport, retail, healthcare and public open space continues to strengthen the appeal of Syd​ney's north-west growth corridor, while <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>'s established first stage provides buyers with a tangible sense of the community's future direction.

For a limited time, buyer can secure a new home at <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> with just a $10,000.

[smartcode_project_cta:default project_id=149637]

Kew Tallawong: A growing community taking shape in Sydney's north-west

<a href="https://www.apartments.com.au/developers/freecity">Freecity</a> has received development approval for its 51-storey mixed-use tower at 153-157 Walker Street, North Sydney, set to be one of the tallest mixed-use residential-led buildings in one of Sydney’s most sought-after commercial and residential addresses.

Lodged as a State Significant Development Application (SSDA) through the Housing Delivery Authority (HDA) pathway and approved by the NSW Department of Planning, Housing and Infrastructure following a comprehensive public exhibition and submissions process, <a href="https://www.apartments.com.au/new-apartments/153-walker-street-north-sydney-nsw-2060">the project</a> will deliver 296 apartments, alongside a 170-room, luxury hotel, activated retail and significant public domain improvements.

Situated just 200 metres from Victoria Cross Metro Station, on one of the largest developable sites in North Sydney, the development will rise to 234 metres, making it one of the tallest buildings in the suburb. With an end value of approximately $1.5 billion, the project responds directly to the NSW Government’s mandate to accelerate housing delivery in well-located, transit-connected areas.

<img alt="Freecity gets green light for mixed-use residential and hotel tower in North Sydney" data-entity-type="file" data-entity-uuid="192ec455-94bf-4e01-83ef-922b1b269d67" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Freecity%20-%20Walker%20Street%20North%20Sydney%201%20RESIZED%20.jpg?VersionId=Bzqp0SBHCDvLAHjA4QXkjuGoOEIh73Jl" />

The apartment mix will cater to a broad range of buyers, with 65 studio and one-bedroom apartments, 139 two-bedroom residences, 35 three-bedroom apartments, 48 four-bedroom homes, and nine penthouses. Residents will have access to a dedicated amenity level on Level 33, featuring a swimming pool with views towards the Harbour Bridge, Sydney Opera House and North Sydney CBD, as well as a gym, library, shared kitchen, lounge and outdoor entertaining areas.

The hotel will occupy the lower six levels of the building and include meeting and function spaces, a wellness centre with gym, yoga studio, swimming pool and sauna, further strengthening North Sydney's growing hospitality offering.

At ground level, the development has been designed to improve pedestrian connections through the precinct. More than 700 sqm of retail space will activate the street frontage, while a landscaped through-site link connecting Walker Street, Little Walker Street and Doris Fitton Park will provide new public open space with seating, paving and extensive native landscaping.

Freecity Group Co-Founder and Joint CEO Tony Sun said the project represents one of the most significant development opportunities currently available in North Sydney.

"This is one of the most significant development sites in North Sydney and it comes at a pivotal moment for the precinct," Sun said.

"North Sydney is undergoing a genuine transformation, and this project will contribute housing the city urgently needs while creating a landmark destination."

Executive Director of Development Michael Romano said demand for both residential and hotel accommodation would continue to strengthen as the Metro precinct matures.

"The structural demand for high-quality housing and hotel accommodation in North Sydney is compelling, and will only grow as the precinct continues to evolve around the new Metro station," Romano said.

Architectus has designed the tower, orientating the apartments to maximise views towards Sydney Harbour while introducing a sculpted façade intended to respond to light, wind and the surrounding skyline.

Architectus Principal Marko Damic said the design sought to create a tower that contributes to the public realm as much as the skyline.

"We wanted to design a tower that doesn't just sit in the skyline but actively participates and contributes to city life," Damic said.

Jonathan Chancellor

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