<html><body>
Buying a first home can be in some ways, metaphorically, a honeymoon, and we are not talking here of just sentiment or the first-home buyer grant. 
There is also the 'honeymoon rate', which is basically a lower interest rate offered for a short time at the start of a home loan by the lender or bank to draw in borrowers. Usually, such a rate is for a period of 1 to 3 years. The lender will revert to the variable rate once the ‘honeymoon’ period ends.
A key benefit of the honeymoon rate is that it allows new borrowers to get used to a loan, according to a post by mortgage broker John Pellegrini in <a href="https://www.mortgagechoice.com.au/" target="_blank">www.mortgagechoice.com.au</a>. The lower interest rate makes it easier for them to meet the home loan repayments. Therefore, this type of loan can be very popular in some circumstances.
But while the honeymoon option sounds like a boon for first-home buyers, once the rate reverts to the more normal variable rate, a buyer may discover that it is not as competitive. 
Hence it is important to do your research and be aware of the interest rate the mortgage will revert to once the ‘honeymoon’ is over. Best to speak to lenders and compare the various rates before making that decision.
Depending on the home buyer’s circumstances, it might make more sense to opt for a home loan with a basic variable interest rate rather than a honeymoon rate, adds Pellegrini.  The choice should take into consideration longer term requirements to figure out which mortgage product will save money in the long run.
</body></html>

po-LsXgBTHBmX

Property 101: What is a 'honeymoon rate'? Home loan terms explained

<html><body>
Sydney vacancy rates for January rose 0.1 percent for the Inner region to 1.9 percent, Outer Sydney up 0.4 percent to 2.3 percent and the middle region down 0.6 percent to 1.8 percent, according to REINSW.
The January 2016 REINSW Vacancy Rate Survey found combined Sydney properties for rent down 0.1 percent at 2.0 percent.
Hunter vacancy rates rose 0.7 per cent at 3.0 percent with Newcastle up 0.9 percent to 2.7 percent.
Albury fell 0.5 percent at 2.7 percent, Northern Rivers fell 0.2 percent at 0.7 percent and Riverina was down 0.3 percent at 3.7 per cent. Central Coast rose 0.3 percent to 2.8 percent, New England rose 0.3 percent to 3.6 percent and Mid North Coast rose 0.7 percent to 1.8 percent.
REINSW President John Cunningham said vacancy rates were expected to remain tight for much of 2016.
 
</body></html>

Sydney rental accommodation remains tight: REINSW

<html><body>
Melbourne recorded a preliminary auction clearance rate of 73.6 percent for the week ending 14 February from 440 reported auctions, according to CoreLogic RP Data.
<a href="/images/2016/02/15/Screen%20Shot%202016-02-15%20at%2012.32.36%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/15/Screen%20Shot%202016-02-15%20at%2012.32.36%20PM.png" alt="">
Melbourne's strongest performer was the Inner East, with a clearance rate of 81.4 per cent across 52 auctions. The Inner South, West and Mornington Peninsula all have a clearance rate above the 75 percent.
<a href="/images/2016/02/15/20160215-Melbourne.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/15/20160215-Melbourne.jpg" alt="">
</body></html>

Melbourne's Inner East leads auctions with 81.4 percent clearance rate: CoreLogic RP Data

<html><body>
Sydney recorded a preliminary auction clearance rate of 78.6 percent for the week ending 14 February from 469 total auctions, according to CoreLogic RP Data.
<a href="/images/2016/02/15/Screen%20Shot%202016-02-15%20at%2012.32.29%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/15/Screen%20Shot%202016-02-15%20at%2012.32.29%20PM.png" alt="">
The North Sydney and Hornsby region was the strongest weekend performer with a 92.5 per cent preliminary clearance rate, the City and Inner South at 89.1 percent and the Eastern Suburbs  at 88.3 percent.
<a href="/images/2016/02/15/20160215-Sydney.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/15/20160215-Sydney.jpg" alt="">
 
</body></html>

North Sydney, Hornsby lead weekend auctions with 92.5 percent clearance rate: CoreLogic RP Data

<html><body>
A property pun on Ashley Maddison shows you just how much you could save on your mortgage.
Launched just in time for Valentine's Day, the website <a href="https://www.bankleymadison.com.au" target="_blank">Bankley Madison</a>, pokes fun at banks and mortgage lenders who openly provide better rates and deals to the new customers, in effect cheating on their existing ones. 
Opening with "It's not a marriage, it's a mortgage, so have some fun", the website shows banking profiles with some subtle hints at a few recent banking news stories.
The creator, finance specialist Jayden Vecchio, said he is poking a bit of fun at the 'cheating backs' who give bigger and better discounts to new customers, leaving the old ones.
"The intention is to show how to get back at these cheating banks who offer better rates and deals to new customers, leaving existing customers paying more," he said.
 
</body></html>

Valentines day parody pokes fun at mortgage lenders

<html><body>
Angus Raine, the chairman at Raine &amp; Horne says it’s important to establish the rules of engagement from the beginning when it comes to a family-owned holiday home.
He says family members would do well to agree to an accommodation schedule for the holiday home from the outset, which diarises when the property is occupied and by whom.
"Some weeks are more valuable than others, such as Christmas and Easter, but by taking a common sense approach, it’s feasible to develop an accommodation schedule which is suitable to all parties."
He says cleaning is another issue that can cause disputes in a shared holiday home.
"From the outset, all parties should agree about how the property should be left after a vacation stint.
"Typically, to circumvent any concerns, all parties could agree to pay for a professional cleaner every time they exit the property.
"Dirty linen is a common bugbear of shared accommodation.
"I advise that occupants could take their own linen to the holiday home and remove it with them when they leave." 
He recommends a pact about how repairs and maintenance with one method is contributing to a sinking fund not unlike those used in strata arrangements.
"Breakages have the potential to cause familial schisms," he warns.
</body></html>

Property 101: Shared holiday homes and family harmony 

<html><body>
NewsLocal has launched a real estate portal geared towards Chinese-Australian audiences led by NewsCorp NSW real estate editor Tim McIntyre.
<a href="https://sydneypropertyexperts.com" target="_blank">SydneyPropertyExperts.com</a><a href="https://sydneypropertyexperts.com" target="_blank">,</a> written in both Chinese and English, covers market trends, new developments, suburb hotspots and foreign investment issues and is written by real estate experts Shayne Collier, Brendan Wong, Erin Forster and Alison Cheung. 
<img src="/images/2016/02/12/Screen%20Shot%202016-02-12%20at%202.02.08%20PM.png" alt="">
NewsLocal editor-in-chief Kathy Lipari said there is a gap in the market for expert real estate content and analysis tailored specifically to our Chinese-Australian audiences. 
"SydneyPropertyExperts.com utilises the expertise and resources of the NewsLocal real estate team to provide comprehensive information in both English and Chinese to Chinese real estate buyers," she said. 
NewsLocal general manager Michael Wilkins said SydneyPropertyExperts.com is a true cross-platform experience for our audiences.
"We have listened to the feedback from our readers and the real estate team and are excited to deliver this unique in-language product to the market,” he said. 
SydneyPropertyExperts.com will feature an investment section, featured properties, market reports, ask the experts, development and the latest news.
</body></html>

NewsLocal targets Chinese community with new real estate website

<html><body>
RBA Governor Glenn Stevens made his semi‑annual appearance before the House of Representatives Standing Committee on Economics today. 
Prepared opening remarks from the Governor were followed by a lengthy Q&amp;A session. 
Glenn Stevens gave his predictions for the Sydney and Melbourne property market.
He expects home prices “to take a bit of a breather for a while”.
Stevens says a slowdown in Sydney &amp; Melbourne prices would be “quite welcome.”
“I think we have seen prices fall in some parts of Sydney," he said.
As for housing oversupply, he believes that there may be oversupply in some pockets, but he has ruled out prospects for housing oversupply in Sydney.
Glenn Steven's opening statement can be read here.
 
 
</body></html>

Glenn Stevens gives his 2016 predictions for Sydney and Melbourne property

<html><body>
OPENING STATEMENT
Since the Committee's previous meeting in September, we have continued to see evidence that economic activity outside the resources sector has been gradually improving.
The pattern observed six months ago whereby business surveys were suggesting improving conditions by and large continued through to the end of the year.
Inevitably, this expansion is not uniform across the country or across industries. Areas that led the growth dynamic a few years ago are on the trailing edge now.
Conversely, some that were subdued for a few years are among those leading growth today.
But few, if any, expansions are completely even, either geographically or by industry.
Given the nature of the economic events through which we have been living, moreover, it is not surprising that there are differences.
The good thing is that there are strong areas to counteract the weak ones.
The available information suggests that real GDP is expanding at pace a bit lower than what we used to think of as normal.
Our estimate is that growth over the four quarters of 2015 was about 2½ per cent.
This continued expansion has occurred in the face of a very large contraction in capital spending in the mining sector, restrained public final spending and the reduction in national income coming from the declining terms of trade.
It has been helped by easy monetary policy and the lower exchange rate.
Notwithstanding below-average GDP growth, the demand for labour increased at an above average pace in 2015.
The number of people employed, as measured, increased by well over 2 per cent, participation in the labour force picked up and the rate of unemployment declined, to be below 6 per cent.
That is a noticeably better outcome than we expected a year ago.
This poses the obvious question of how, with apparently still somewhat below-trend GDP growth, the rate of unemployment has fallen. And whether the pattern will continue.
Of course, it may be that the labour force data overstate the strength.
Alternatively they may be telling us something not yet apparent in the GDP estimates. More data may shed light on this question over time.
Part of the reconciliation appears to be that growth has been concentrated somewhat in labour-intensive areas, like certain household and business services.
Another part of the reconciliation probably lies in the very modest pace of growth of labour costs.
At any given rate of unemployment, wages growth appears to have been lower than would have been expected based on historical relationships. In fact, at an economy-wide level, unit labour costs – that is, wages per unit of aggregate output – have not risen for four years. This has surely helped employment.
This same phenomenon is also important in understanding the behaviour of inflation, which has been quite low.
As measured by the Consumer Price Index, inflation was 1.7 per cent over 2015.
This was affected by falling prices for petrol and utilities, the latter in part due to government policy decisions.
But even the underlying measures, which remove or down‑weight such effects, at around 2 per cent, are low. Price rises for non-tradeable items are at their lowest for many years, and this reflects, among other things, the modest growth of labour costs.
In summary then, the economy is continuing to grow at a modest pace, in the face of considerable adjustment challenges. It has apparently been generating more employment growth and lower unemployment than we expected, while inflation has remained quite low.
Turning then to the rest of the world, there have been some key developments since we last met with the Committee.
In December, the United States Federal Reserve raised its policy interest rate for the first time in 9½ years.
The last time the Fed actually started an upward phase in rates was as far back as 2004.
The Fed's rationale for this change was that the US economy had sufficient strength that a zero interest rate was no longer needed – and, as such, it is a welcome development.
The change had been very well telegraphed and was absorbed by financial markets without any immediate disruption.
That said, US dollar funding costs are important to many financial strategies around the world and when they start to increase, however gradually, investors adjust their positions.
This had already been happening in anticipation of the Fed's decision, with funds seeking to lessen their exposures to emerging markets, high-yield debt instruments and so on.
These adjustments continued subsequent to the Fed announcement. For some emerging market economies, facing lower commodity export prices, things have become more challenging.
At the same time, some other major jurisdictions have sought to ease their monetary policies further.
Both the European Central Bank and the Bank of Japan have pushed rates on some deposits at the central bank below zero. In other words, policy trajectories among the major jurisdictions are diverging, which creates the potential for market movements, not least in exchange rates.
Meanwhile, the Chinese economy has become more of a concern for many observers.
It is not that the actual data on the Chinese economy are all that different from what we had been seeing.
They paint a picture of softness in growth – but they were already saying that some time ago.
The more recent anxiety is probably best described as greater uncertainty over the intentions of Chinese policymakers and over whether they will be able to carry off the economic transition China needs. This anxiety has been reflected in capital flows.
Commodity prices have generally fallen further over recent months. Most prominent was the further fall in crude oil prices to about US$30 per barrel.
While this level of oil prices is not especially low in a longer-run historical context, it is a large decline from prices prevailing in recent years and is bringing considerable adjustment.
Oil-producing companies and nations are seeing a decline in their incomes, and yields on debt issued by corporates in the energy sector have increased sharply.
Exploration expenditure and investment in new capacity is being rapidly curtailed.
Sovereign asset managers for some key oil producers are liquidating some assets to help manage the effects on fiscal positions.
As with most price changes, there are gainers as well as losers.
The fall in energy costs is a windfall to energy users and represents a terms of trade gain for countries that are net importers.
Importantly, it does not appear to be the case that the fall has predominantly been caused by weak demand for oil.
Indications are that oil demand has still been rising, albeit not as quickly as it had been.
Supply increases appear to have been more important than demand factors in explaining the large price fall, at least thus far. Hence, we should not interpret the decline in oil prices as uniformly negative.
On the contrary, a fall in oil prices resulting from additional supply has usually been seen clearly as a bonus for consumers and many businesses in advanced economies, including Australia.
In financial markets, as investors and traders have sought to make sense of all these conflicting currents, we have seen a period of volatility recently.
This has been apparent in equity and bond markets, as well as foreign exchange markets.
Equity markets are lower, yields for core sovereign obligations are lower, spreads for lower-rated corporates and emerging market sovereigns are wider.
Exchange rates have seen more variability, with currencies for many emerging market countries weaker.
The Australian dollar is around the same level now as when we last met with the Committee, though commodity prices are lower.
Looking ahead, forecasters expect a bit less growth in the global economy this year than they did a few months ago.
Expectations for Australia's trading partner group itself are for growth to be a bit below average, little changed from six months ago.
Inflationary pressures globally look quite subdued. Global interest rates will still be very low, even if short-term rates move up a bit further in the United States.
For Australia, the adjustment we have been experiencing for a couple of years now will most likely continue.
The terms of trade are still falling. The fall in mining investment spending will continue for at least one more year, though it is probably having its most significant effect on the rate of growth now.
Other areas of demand are expected to add to growth. The net effect of all this is likely to be continuing expansion at a moderate pace.
One key question will be whether the recent financial turbulence itself will have a material negative effect on aggregate demand – in Australia or abroad. I don't expect that we will be able to answer that question for a little while yet.
Another question is what the recent unexpected strength in the labour market means for the outlook.
If it turns out that the strength is just temporary, then the outlook is still for moderate growth, but no near-term acceleration.
If, on the other hand, recent trends were to continue, the income gains coming from higher employment may start to feed into stronger demand growth, which would probably lead in due course to higher levels of investment.
Alternatively, if demand growth were to be in areas that require relatively little capital to support the labour employed, then the apparent weakness in capital spending outside mining could be of less concern anyway.
As usual, there are many questions regarding both our current circumstances and the outlook.
At its recent meetings, the Reserve Bank Board has kept the stance of policy unchanged, with the cash rate at 2.0 per cent.
We will be examining new information over the months ahead as we try to discern the answers to these and other questions.
With inflation unlikely to cause a problem by being too high over the next year or two, the statement after the recent meeting indicated that the Board retains the flexibility to ease further, should that be helpful.
Glenn Stevens talked about Sydney and Melbourne prices in our next story here.
</body></html>

Inflation unlikely to cause a problem: RBA governor Glenn Stevens opening statement

<html><body><div class="page" title="Page 18">
<div class="layoutArea">
<div class="column">
Over the three months to September 2015, 10.2 per cent of Canberra homes re-sold at a loss compared to 10.9% over the previous quarter and 11.4 per cent a year earlier, according to CoreLogic RP Data's latest Pain &amp; Gain report.
The typical loss was $20,000. It is tipped that most declines were apartments.
The latest data showed prices in the national capital up 2.8 per cent in January pushing it to 6 per cent annual growth. It has a $585,000 median dwelling value.
Tim Lawless, CoreLogic RP Data’s head of research, said in December that the Canberra housing market had been showing tentative signs of growing values, adsding that market conditions have been more volatile from month to month.
The nation’s capital has significant differences in predicted value performance of Canberra’s houses and units.
While houses were up 4.5% over 2015 apartments fell 0.8%.
<a href="/images/2016/01/29/Screen%20Shot%202016-01-29%20at%2011.41.18%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/01/29/Screen%20Shot%202016-01-29%20at%2011.41.18%20AM.png" alt="" width="664" height="190">
Catherine Smith, practice manager of Canberra property investment advisory firm Wholistic Financial Solutions, warns that the city could be “fast heading towards an oversupply of units”.
Among the many apartment blocks under construction is the Wayfarer at Belconnen, which at 88 metres will be Canberra’s tallest residential tower when completed by year's end. 
"If development continues at this rate I wouldn't be surprised to see Canberra listed as the most oversupplied state or territory in Australia," Smith told the mywealth website. 
CoreLogic RP Data reported the city’s gross unit rental yield was 5.2% – equal to Hobart and Darwin and second only to Brisbane.
Construction is due to commence this year on what will be the largest-scale public transport infrastructure project Canberra has ever seen – the $783m Capital Metro.
Starting from Gungahlin in the city’s north, the 12km light rail track will run south along Flemington Road, Federal Highway and Northbourne Avenue to Civic (city centre) and possibly onwards to Russell (as part of a proposed future extension), with stops at the suburbs of Harrison, Franklin, Downer and Braddon and major stations proposed for Gungahlin, Dickson and Alinga Street.
Example of small losses being taken recently include a three bedroom in Lyneham which went from $604,900 to $585,000 in five years and a two bedroom in Braddon which dropped from $540,000 to $500,000 in just nine months.
A property in Kingston traded for $740,000 in 2013 and sold for the same price last year.
</div>
</div>
</div></body></html>

10% of Canberra dwellings selling at a loss: CoreLogic Pain & Gain

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 

<section data-scroll-anchor="false" data-testid="conversation-turn-6" data-turn="assistant" data-turn-id="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-2" data-turn-id-container="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-2" dir="auto">
<section data-scroll-anchor="false" data-testid="conversation-turn-2" data-turn="assistant" data-turn-id="request-WEB:5a5ab36c-8dd3-454c-b456-c501f22f0eb4-0" data-turn-id-container="request-WEB:5a5ab36c-8dd3-454c-b456-c501f22f0eb4-0" dir="auto">
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.
</section>
</section>

[smartcode_project_cta:default project_id=112661]

Property Observer

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News