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The Illawarra residential market prices continue to grow strong, according to a recent Herron Todd White (HTW) report.
The property valuation firm says that various factors such as low interest rates, employment and decreasing affordability in Sydney are creating strong demand.
“There has been strong growth in the Illawarra residential market for a number of years in all locations and property types,” the report stated.
The market is particularly driven by what is happening in Sydney but there is also a flow on effect to Wollongong and Shoalhaven.
"Low interest rates, stable employment, improving infrastructure and decreasing affordability in Sydney all combine to create strong demand for residential property at all price levels," the report said.
"There are a number of factors that could cause the market to change.
"These include interest rate hikes, an oversupply of new properties, an economic downturn in the region, or a crash in the Sydney market.\
Wollongong is in the middle of a construction boom, especially in unit developments.
"New unit developments are at an all time high and the supply of new units are at unprecedented levels," HTW said.
"In addition there are many new land developments of varying sizes with the majority in West Dapto, Calderwood, Shell Cove and South Nowra.
"As long as the supply is being met by strong demand the market will continue to be strong.
"However, all this new supply may exaggerate any downturn in the market if developers cannot offload their new stock."
HTW says Illawarra’s economic situation is tied to its property market.
"The region continues to diversify from its mining and steel roots and has enjoyed good growth in medical and aged care and tourism sectors," it said.
"Market confidence is still derived from the steel and mining sectors.
"Major downturns in these sectors could result in a downturn in the property markets.
"With the region being more and more accessible to Sydney through improved infrastructure, the link between the Sydney and Illawarra property markets is closer than ever.
"It is likely that the events that would cause a slow down in the Sydney market would also impact the Illawarra and if Sydney buyers were removed from the Illawarra market demand for property would be reduced,” the report stated.
A three bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-figtree-125477566" target="_blank">9 Mark Street</a>, Figtree (above) has been listed for between $699,000 to $768,900.
Similarly, a two bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-woonona-125478226" target="_blank">45 Hillcrest Avenue</a>, Woonona (below) has been listed for $600,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/16/45%20Hillcrest%20Avenue.jpg" alt="">
A two bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-north+wollongong-125324826" target="_blank">1/4 Pleasant Avenue</a>, North Wollongong (below) was recently sold for $570,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/16/1_4%20Pleasant%20Avenue.jpg" alt="">
Similarly, a four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-horsley-125281798" target="_blank">21 Norman Clark Crescent</a>, Horsley (below) was recently sold for $955,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/16/21%20Norman%20Clark%20Crescent.jpg" alt="">
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j.ballantyne1990-6AQqhLzZaK

Illawarra residential market continues to grow strong: HTW

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Located along the walking and bike tracks of Werribee River, the two bedroom unit has been sold by mortgagees for $335,000.
It was sold by Adrian McEvoy and Tony Cannatelli from LJ Hooker.
It had last sold $140,000 in 2013.
Built in 2014 and set on 272m2 block (approx), the<a href="https://www.realestate.com.au/sold/property-unit-vic-werribee-127000682" target="_blank"> 1/22 Golden Avenue</a> unit comes with two bedrooms, a spacious living area and a study nook.
The suburb's median unit price sits on $317,500, according to CoreLogic.
 
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Werribee two bedroom unit sold by mortgagee

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GUEST OBSERVATION
Overcrowding is an inevitable and often overlooked result of the affordable housing shortage in our cities.
When a dwelling requires four or more extra bedrooms to reasonably accommodate occupants, the standard commonly used in Australia defines that as severe overcrowding. In 2011, 41,390 Australians lived in severely overcrowded dwellings, an increase of one-third from 2006. This increase occurred mostly in cities where house prices had risen sharply.
Our recent research, to be published soon, examined where overcrowded housing is located in our capital cities. We found:
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<li>Sydney and Melbourne are most affected by concentrated overcrowding</li>
<li>levels of overcrowding are highest in middle-city areas (except in Adelaide)</li>
<li>overcrowding overlaps strongly with socioeconomic disadvantage.</li>
</ul>
What exactly do we mean by overcrowding?
Pressure in the affordable housing sector has led to increases in overcrowding. Media reports describe situations of “ten people in a two-bed unit”, “58 beds crammed into 19 dirty, makeshift rooms” and “ten people shoehorned into one bedroom, tenants sleeping in bathrooms, and in one case, a pantry”.
Living in severely crowded dwellings has been described as the most common form of homelessness.
Security and safety can be an issue when residents do not have privacy and control of their own space. But people sacrifice space and safety to secure affordable accommodation.
An example of the dangers was a fatal fire in an apartment illegally partitioned to create a fourth bedroom.
Commonly used standards of overcrowding range from simple indicators such as persons per bedroom (e.g. American Crowding Index) to more sophisticated indicators that consider family size and composition (age, gender and marital status).
One such measure, the Canadian National Occupancy Standard (CNOS), is officially recognised in Australia. It assesses a household’s bedroom requirements using the following criteria:
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<li>no more than two people should share a bedroom</li>
<li>children of different sexes under five years of age may reasonably share a room</li>
<li>children of different sexes should not share a bedroom when aged five or older</li>
<li>children under 18 and of the same sex may reasonably share a bedroom</li>
<li>parents, couples and household members aged 18 or older should have a separate bedroom.</li>
</ul>
Under this standard, households that need at least one extra bedroom are considered overcrowded. A shortfall of four or more bedrooms is severe overcrowding, with greater risks for health and safety.
One standard doesn’t fit all situations
Measuring overcrowding is not straightforward. The age and sex separation thresholds involve assumptions about the age of puberty and adulthood.
CNOS is the preferred measure of the Australian Bureau of Statistics, Statistics New Zealand and the Australian Institute of Health and Welfare (AIHW). This is because it takes the age and sex of occupants into account and matches our values and expectations of how space is used.
In Australia, it is usually acceptable for children of the same sex to share a bedroom before puberty. But we already know CNOS does not account for differing cultural expectations of the numbers of bathrooms and toilets, and the size of kitchens, bedrooms and living spaces. CNOS embeds assumptions that do not hold across ethnically diverse groups in Australia.
For example, a study of migrant suburbs in Sydney and Melbourne found “it is not uncommon to have families with two adults and five children sharing a two-bedroom property”. This is due to large family size and different cultural norms, including intergenerational occupancy of housing. Few properties are designed for this.
Traditional Pacific houses use living spaces rather than separate bedrooms for sleeping. A bedroom with more than two people is compatible with the attitudes of some Pacific and Mäori peoples to having a sense of adequate space.
Similarly, using the Canadian standard, Indigenous Australians are more than five times as likely to live in overcrowded housing as non-Indigenous Australians. This is alarmingly high and likely driven by high rates of socioeconomic disadvantage. We need to disentangle the extent to which values around space and its use versus socio-economic drivers of overcrowding underlie this statistic.
Do we need better measures?
So should we develop Australian-specific culturally sensitive standards? We think that depends on what we want to know.
Physiological stress and disease risk as a result of crowding occur for different ethnic groups regardless of whether they perceive themselves as crowded. Culturally specific standards may not be necessary when broadly examining the relationships between crowding and transmission of infections such as rheumatic fever, colds, asthma, influenza and meningococcal disease. Living in close quarters is relevant regardless of cultural norms of housing or nuances of measurement of crowding. Standard indices, while not perfect, capture this.
However, expectations about shared space might influence impacts on mental health. Social relations and family bonds are key social determinants of mental health. In particular, shared culture has been identified as a positive resource in improving Indigenous health. Current crowding metrics ignore non-bedroom-related uses of housing.
Crowding indices that capture the use of space – for example, incorporating subjective feelings that too many people are around – could be a step forward. Given our climate of wide temperature ranges and the high cost of utilities, such indices might also consider “functional overcrowding” – people sharing small spaces or beds due to concerns about heating/cooling and security.
Research on wellbeing would benefit from integrating a better understanding of the variety of needs of cultural groups and tailoring measures to our climatic conditions. However, such measures would be more subjective than current standard measures, more difficult to collect at a population level and less comparable with international standards.
What can we do about harmful overcrowding?
Cultural preferences mean low levels of overcrowding may not always be problematic. But overcrowding is a problem when generated by socio-economic disadvantage and when it compromises people’s safety and security. This is likely in cities where housing costs are high.
<img src="https://counter.theconversation.com/content/96110/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">Broader measures are needed to improve the supply of affordable housing. This includes dedicated programs such as the National Rental Affordability Scheme (NRAS) and extra funding for social housing. Enforceable laws that go beyond the Public Health and Wellbeing Act in Victoria and NSW Fair Trading strata reforms are also needed to monitor overcrowding and avoid the negative impacts of severe overcrowding.
Shanaka Herath, Vice-Chancellor’s Postdoctoral Research Fellow, University of Wollongong
Rebecca Bentley, Associate Professor, Centre for Health Equity, Melbourne School of Population and Global Health, University of Melbourne
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/overcrowded-housing-looms-as-a-challenge-for-our-cities-96110" target="_blank">original article</a>.
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Overcrowded housing looms as a challenge for our cities

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Scotsburn, the grand Avoca estate in the Southern Highlands, has sold for a record $9.25 million.
It was offloaded by the Knox grazier family, who paid $8.1 million less than two years ago, an Avoca record.
It was bought by the Lai family, who are behind property giant Zone Q Investments, the Australian arm of China’s JiaHe JianAn Group.
They had been asking $8.9 million through Michael Maloney and Phillip Dwyer from Richardson &amp; Wrench Bowral.
It has been reported the 41 hectare property has been bought by the Chinese Lai family, the family behind Zone Q Investments, the Australian arm of China’s JiaHe JianAn Group.
Monitored by a 16 camera CCTV security system, the sprawling home, complete with five ensuited bedrooms and five living areas, has a mud room, library, billiard room with bar, 2000 bottle wine cellar and a home office.
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In its own wing is a 20 metre heated indoor swimming pool, a gym and a sauna.
The mature landscaped grounds feature a championship all-weather tennis court, boules court, netted veggie garden and orchard
The 41 hectares include improved pastures suitable for cattle or horses, as well as cattle yards, a hay shed, six dams and two permanent springs.
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Southern Highlands trophy home Scotsburn, Avoca sells for $9.25 million

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Property investment consultants Momentum Wealth are inviting wholesale investors to participate in the development of their newly secured riverfront site in the Perth suburb of Crawley.
The 1,539sqm late 1960s site was secured in an off-market transaction, located nearby the Blue Boat Shed, Perth’s most photographed building.
The six existing apartments on the site will be demolished and developed into a prime development, said Momentum Wealth’s Philip Anderson.
“This development will be the first development fronting Mounts Bay Road with sweeping river views in over 10 years”, he said.
The site is located in a small, tightly held residential pocket between Kings Park and Mounts Bay Road with limited prospects of future supply.
“That pocket of Crawley is an established apartment market with an older, more affluent owner-occupier demographic which makes it perfectly suited to an iconic development of this nature,” Anderson said.
Each of the proposed apartments in the complex will be set over its own floor, offering luxury amenities.
A minimum investment of $100,000 is required from potential wholesale investors.
The project will be targeting an internal rate of return between 18 and 20 per cent, with a total equity raise of $10 million.
Comprising of between eight and 10 apartments, the development is expected to appeal to local, interstate and international buyers.
Amenities will include large outdoor living areas, three parking bays per apartment and views of Swan River and Kings Park.
<a href="https://www.momentumwealth.com.au/crawleyfund/?utm_source=PropObs&amp;utm_medium=Tower&amp;utm_campaign=POdigi" target="_blank">Expressions of interest are now open</a> at Momentum Wealth. 
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Prestige Crawley residential project investment opportunity offered by Momentum Wealth

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Mudasir Mohammed Naseeruddin (commonly referred to as Naseer or Mudasir) appeared in the Melbourne Magistrates Court charged last week facing seven counts of dishonest conduct.
Mr Naseeruddin was also charged with two counts of failing to exercise his power as a director and discharge his duty in good faith under the Corporations Act.
ASIC alleges that Naseeruddin dishonestly obtained superannuation funds from investors based on false representations, including representations that the funds would be invested in property development.
Naseeruddin was a director of Secure Investments Pty Ltd (Secure Investments) and Aquila Group Pty Ltd (Aquila) (both in liquidation).
ASIC also alleges that Mr Naseeruddin misused his position as a director of Secure Investments for his own benefit by using funds invested with the company to purchase shares for himself in a security company.
Each offence currently carries a maximum penalty of up to 15 years imprisonment.
The matter is being prosecuted by the Commonwealth Director of Public Prosecutions after a referral from ASIC.
The matter was adjourned to the Melbourne Magistrates’ Court for committal mention hearing to April 6 next year.
It was in May 2020 that ASIC commenced civil proceedings and obtained urgent interim orders in the Federal Court against Naseeruddin, Secure Investments and Aquila due to concerns of misleading and deceptive conduct and the operation of an illegal managed investment scheme.
In October 2020, ASIC obtained orders to wind up Secure Investments and Aquila and declarations that Naseeruddin had operated a financial services business without the appropriate licence.
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Secure Investments/Aqulia Group director faces seven counts of dishonesty

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GUEST OBSERVATION
If you own an apartment – or are thinking of buying one – the recent news about building quality <a href="https://theconversation.com/would-you-buy-a-new-apartment-building-confidence-depends-on-ending-the-blame-game-122180">has been worrying</a>. There have been evacuations at the <a href="https://theconversation.com/there-are-lessons-to-be-drawn-from-the-cracks-that-appeared-in-sydneys-opal-tower-but-they-extend-beyond-building-certification-109428">Opal</a> and <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-11-24/mascot-towers-apartment-owners-still-living-in-limbo/12911968">Mascot</a> apartment towers in Sydney, cladding fires at the <a href="https://theconversation.com/lacrosse-fire-ruling-sends-shudders-through-building-industry-consultants-and-governments-112777">Lacrosse</a> and <a href="https://theconversation.com/cladding-fire-risks-have-been-known-for-years-lives-depend-on-acting-now-with-no-more-delays-111186">Neo200</a> towers in Melbourne and the <a href="https://theconversation.com/grenfell-tower-inquiry-expert-explains-four-main-findings-and-how-emergency-services-must-improve-126163">Grenfell Tower tragedy</a> in London. While most buildings won’t have such serious defects, many do have significant problems, and owners must get these fixed so they aren’t a health and safety risk.
Even if the defect doesn’t affect their apartment, this is often the shared responsibility of all owners in the building. It’s essential they have access to good guidance on dealing with defects in strata properties – but this isn’t always easy to find. To help owners, we’ve worked with the <a href="https://nsw.strata.community/">Strata Community Association (NSW)</a> to produce a <a href="https://cityfutures.be.unsw.edu.au/research/projects/defect-rectification/">free guide to rectifying defects</a>.
<a href="https://images.theconversation.com/files/372949/original/file-20201203-23-1770psg.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/372949/original/file-20201203-23-1770psg.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="screenshot of strata defects rectification guide home page"></a> The online guide to rectifying defects takes apartment owners step by step through what they should do. <a class="source" href="https://cityfutures.be.unsw.edu.au/research/projects/defect-rectification/">City Futures Research Centre, UNSW/SCA (NSW)</a>, <a class="license" href="http://creativecommons.org/licenses/by/4.0/">CC BY</a>
This how-to guide takes current and potential owners through the steps of identifying and rectifying defects, with links to helpful resources. It includes advice on getting a defect report, whether the developer or builder might be responsible for fixing the issue, how to choose and manage building experts, and how to manage communication with owners and workers.
The guide has been developed for New South Wales, but may also be helpful if you have a strata property elsewhere in Australia.
So what key things should owners know?
Each building’s experience with defects will differ. But there are some key principles owners should always keep in mind – these underpin all the advice in our guide.
Ignorance isn’t bliss: as an owner, you are automatically a member of the <a href="https://www.fairtrading.nsw.gov.au/housing-and-property/strata-and-community-living/strata-schemes">owners corporation/body corporate</a>. This means you have a legal <a href="https://www.fairtrading.nsw.gov.au/housing-and-property/strata-and-community-living/strata-schemes/responsibilities-of-the-owners-corporation">responsibility to maintain and repair the common property</a>, including dealing with defects.
Information is power: gather all the information you can when investigating defects. For buyers, a good strata report is essential. For owners of new buildings, getting a professional defects report is particularly important. It’s worth the cost.
Focus on potential fire, waterproofing or structural issues. These defects can be hard to see but expensive to fix. They also have major impacts on health and safety.
The early bird catches the worm: you can never start looking for and dealing with defects too early. Be aware of time limits on building warranties.
In NSW, for minor defects, you have two years to start the process of getting the builder or developer to fix the defect. For major defects, you have six years. If your building is outside the warranty period, you may have to fund rectification yourself.
Sharing is caring: make sure you report defects to people who need to know. This will include your owners corporation, but also your insurer(s) and <a href="https://www.fairtrading.nsw.gov.au/help-centre/online-tools/make-a-complaint">Fair Trading</a> (especially if the defect is major).
Keeping good records is also important. Records are needed in case there are disputes and to show future buyers the building is well-maintained.
Look after yourself: dealing with defects can be financially and emotionally draining. Conflict can occur, and collective decision-making can feel very slow.
To help navigate the process, you want the best experts by your side. They include lawyers, building specialists, strata managers and project managers. And always get a second opinion if in doubt.
What else can be done to improve the situation?
While our guide will help apartment owners and buyers to work through defect issues, state and territory governments could also do more to help out owners.
Since the Opal Tower evacuation, the NSW government has <a href="https://www.fairtrading.nsw.gov.au/about-fair-trading/legislation-and-publications/changes-to-legislation/building-industry-reforms">moved to tighten building laws</a> to reduce future defects.
These legal changes are important, but they are unlikely to completely get rid of building defects. And buildings built before the new laws might still have problems down the track.
One way governments can help owners who face such issues in the future is to make it easier for them to get the information they need to deal with defects effectively and efficiently.
Currently, strata buyers and owners suffer from what economists call “<a href="https://theconversation.com/lack-of-information-on-apartment-defects-leaves-whole-market-on-shaky-footings-127007">information asymmetry</a>” – they don’t have access to all the information they need to make informed decisions about building quality. For example, developers might not give new owners all the details about how their building was built, what materials were used, or which builders and tradespeople worked on it.
Developers should be required to give owners better information, as well as taking more responsibility for fixing defects.
Owners corporations should be encouraged to keep building records on defects up-to-date and make this information available to prospective buyers and relevant authorities.
And governments should support further professionalisation of the strata and building management industries, to make sure owners have the best possible support to navigate defects issues and care for their buildings.<img src="https://counter.theconversation.com/content/150292/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/sian-thompson-301831">Sian Thompson</a>, Research Associate, City Futures Research Centre, <a href="https://theconversation.com/institutions/unsw-1414">UNSW</a>; <a href="https://theconversation.com/profiles/bill-randolph-147968">Bill Randolph</a>, Director, City Futures Research Centre, Faculty of the Built Environment, <a href="https://theconversation.com/institutions/unsw-1414">UNSW</a>; <a href="https://theconversation.com/profiles/hazel-easthope-175163">Hazel Easthope</a>, Scientia Associate Professor, City Futures Research Centre, <a href="https://theconversation.com/institutions/unsw-1414">UNSW</a>; <a href="https://theconversation.com/profiles/laura-crommelin-15376">Laura Crommelin</a>, Research Lecturer, City Futures Research Centre, <a href="https://theconversation.com/institutions/unsw-1414">UNSW</a>, and <a href="https://theconversation.com/profiles/martin-loosemore-4690">Martin Loosemore</a>, Professor of Construction Management, <a href="https://theconversation.com/institutions/university-of-technology-sydney-936">University of Technology Sydney</a>
This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/dealing-with-apartment-defects-a-how-to-guide-for-strata-owners-and-buyers-150292">original article</a>.
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Dealing with apartment defects: a how-to guide for strata owners and buyers

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The Australian Competition and Consumer Commission (ACCC) has instituted Federal Court civil proceedings against construction company J Hutchinson Pty Ltd and the Construction, Forestry, Maritime, Mining and Energy Union (CFMMEU).
The proceedings were raised over alleged boycott conduct at a building site in Brisbane, following an agreement in 2016 between the CFMMEU and Hutchinson, one of Australia’s biggest privately owned construction companies.
According to a document lodged to the Federal Court, Hutchinson allegedly agreed to terminate the contract of an independent waterproofing subcontractor working on the Southpoint A Apartments construction project in South Brisbane.
The ACCC alleges that Hutchinson terminated the subcontractor to avoid conflict with, or industrial action by, the CFMMEU at the site as the waterproofing subcontractor was not covered by an enterprise agreement with the CFMMEU.
Hutchinson contravened sections 45E and 45EA of the Competition and Consumer Act, which prohibit contracts, arrangements or understandings for the purpose of preventing or hindering the acquisition of goods or services from a supplier, according to the ACCC.
“Tackling anti-competitive conduct in the construction industry is a priority for the ACCC, and this includes boycotts like the one alleged to have taken place here,” ACCC chair Rod Sims said.
“Boycotts are extremely detrimental to competitive markets and the economy, and can do great damage to those businesses targeted. Given this, we will take action to detect and deter such conduct whenever we can.”
The ACCC is seeking declarations, injunctions, pecuniary penalties, orders for findings of fact, compliance training and, against the CFMMEU only, adverse publicity orders.
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ACCC takes civil action against CFMMEU and construction giant Hutchinson

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As with March quarter results, resales in the three months to June in Perth council regions showed a fairly steady portion of loss making sales, according to the recent CoreLogic Pain and Gain report.
The portion of loss making sales was 36.2 per cent, which the second-highest of the capital city markets behind Darwin (where more than half of resales saw a nominal decline).
The overall rate of loss making sales was steady, the report noted.
Unit sales saw a 2.5 percentage point increase in the portion of loss making sales, to 57.5 per cent.
The portion of loss making house sales fell 50 basis points to 32.2 per cent.
<a href="https://www.propertyobserver.com.au/images/2020/10/7/perth%201.png" target="_blank">Click here to enlarge</a>:
<img src="https://www.urban.com.au/images/2020/10/7/perth%201.png" alt="">
Source: CoreLogic Pain and Gain report
The council with the highest count of loss making unit sales was Stirling (84 sales), followed by Perth (53). These two regions accounted for around 30 per cent of loss making unit sales across Greater Perth.
The outlook for profitability across the Perth market in the second half of 2020 is more positive, as there are signs the market is returning to the upswing seen before COVID-19, the report noted.
<a href="https://www.propertyobserver.com.au/images/2020/10/7/perth%202.jpg" target="_blank">Click here to enlarge</a>:
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Source: CoreLogic Pain and Gain report
Listings volumes and sales activity are rising across Perth, and through September CoreLogic’s home value index has shown signs of dwelling value increases.
As well as low mortgage rates and low COVID cases buoying market activity, WA has seen arguably the most demand-side housing stimulus from the state government on top of federal government schemes. This may serve to increase values and increase the incidence of profit making sales.
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57.5% of Perth unit resales saw a loss: CoreLogic Pain & Gain report

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The Brisbane council region had the highest volume of loss-making unit sales in the country, according to the recent CoreLogic pain and gain report.
Brisbane also had the highest loss-making sales rate for houses and units of the east-coast capital cities, with loss-making sales increasing to 14.3 per cent.
<a href="/expert-insights/buying/greater-adelaide-sees-an-increase-in-dwelling-values-corelogic-pain-gain-report">Similar to Adelaide</a>, there was a divergence between the loss-making sales between houses and units.
During the June quarter, 43 per cent of units saw a loss at resale, whilst houses were at 6.4 per cent.
According to the report, Brisbane will likely see a boost in housing demand once interstate border closures ease due to Queensland’s significant interstate migration.
“The normalisation of remote work through COVID-19 may only boost that demand further”, the report read.
The average median loss for gross loss-making sales in Brisbane was $37,500.
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Brisbane sees highest volume of loss-making unit sales: CoreLogic Pain & Gain report

The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Joel Robinson

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
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[smartcode_project_cta:default project_id=112661]

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