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<p>A dainty five-bedroom, three-bathroom Surrey Hills hpouse, just off tree-lined, sold recently at auction.</p>
<p>The Wells Street property, with weatherboard facade, was sold by Woodards estate agents Maria Xu and Richard Kurz for $2.95 million. </p>
<p>The 780 sqm home with architecturally designed renovations and extensions, features landscaped gardens at the front.</p>
<p>Insidxe there's wide Woodcut engineered flooring and grand entry hall with a clay beaded chandelier. </p>
<p>The split level home has a front formal lounge with colonial windows which can be used as a sitting room, a kids' play area, or even a fifth bedroom. </p>
<p>The central living zone with northern orientation spills into the family room that has a gas stone fireplace, and dining zone with four-metre hight ceilings. </p>
<p>The kitchen is the centrepiece of the home which is fitted with Calacatta Ors porcelain bench tops, Franke dual sink, and premium stainless steel appliances including double AEG ovens and an Asko dishwasher. </p>
<p>The master ensuite bedroom is situated on the top floor and has a dressing room and private balcony. Meanwhile, the spacious guest bedroom is on the lower level with easy access to a sleek bathroom. The other two bedrooms come with built-in robes, double vanity central bathroom which has floor-to-ceiling tiling, a freestanding bath, standout laundry with a drying room, ducted heating, refrigerated cooling, plush carpet and Calacatta marble.</p>
<p>There are three dedicated outdoor areas including a large garden at the rear with grass space and bluestone paving, an entertaining area accessed via stacker doors from the living zone, and the sizeable front porch and garden.</p>
<p>The property was last sold in 2016 for $1,850,000, and first bought in 1979 for £37,000. </p>
<p>The most recent five-bedroom house sold on Queen Street was for $3,720,000 in November 2019. </p>
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Dainty Victorian family home in Surrey Hills sold

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<p>A Paddington period terrace with views across the city skyline has hit the market. </p>
<p>The four bedroom, two bathroom home is situated at <a href="https://www.realestate.com.au/property-terrace-nsw-paddington-132913750" target="_blank">8 Jersey Road</a>. </p>
<p>It comes with living area with fireplace, additional family/media room at rear, and marble kitchen.</p>
<p>Other highlights include courtgarden, ample storage, and rear lane access via Tivoli Street into single car space. </p>
<p>The home is close to Oxford Street, CBD/Bondi Junction bound buses and quality schools. </p>
<p>It has been scheduled to go under the hammer on February 29. </p>
<p>Mark Lowe and Clint Ballard, of Ballard Property Group Double Bay, listed the property. </p>
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Paddington period terrace with city views set for auction 

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<p>EXPERT OBSERVER</p>
<p>In 1988 the Australian Bureau of Statistics (ABS) projected a population of 25 million by 2050. Australia reached that estimate 30 years earlier. Our population grew by more than 400,000 in 2018-19, and the ABS now projects a population of 30 million by 2030.</p>
<p>At this growth rate, Australia will need to house an additional 16.8 million residents in the next 40 years. This is the equivalent of a new city the size of Canberra every year for the next 40 years – or a city the size of Darwin every 12 weeks.</p>
<p>Mike provides recommendations to governments and urban developers building sustainable cities that will avoid putting further strain on our existing capital cities, maintain our standard of living and health, provide local jobs, make housing attainable for every generation, save water and create safe streets for pedestrians and cyclists.</p>
<p><strong>Mike’s 7 recommendations to building new cities that will ease the squeeze:</strong></p>
<p><em>1.</em> Locate new cities between Sydney and Melbourne. Mike says now is the time to think about potential sites for new cities. For instance, eight could be built along the Sydney-to-Melbourne high-speed rail service that is being considered by government. Connecting the two cities provides an opportunity to promote the ‘twin cities’ of Melbourne and Sydney, considered by many as the world’s most liveable and beautiful cities.</p>
<p><em>2.</em> Build ‘urban’ cities from the start. Mike says new cities must be medium- to high-density from the outset, be connected within by sustainable forms of transport and offer local jobs. A specific rapid mixed use, walkable, urban city model is being advocated to Federal and State Governments by Consolidated Land and Rail Australia (CLARA) – a private group RobertsDay is assisting – which is offering solutions to re-balance Australia’s existing settlement and deliver new ways of planning and building liveable, sustainable, connected cities, transport and infrastructure.</p>
<p><em>3.</em> De-centralise jobs. Mike says most land uses can now happily co-exist. However, any new cities that we build will require multiple ‘outer-suburb mixed use urban centres with mixed-use retail, commercial and residential areas that are transit-based, compact and walkable. This will ensure short commute times and avoid putting pressure on transport systems and roads. Mike says our existing cities – especially Sydney and Melbourne, where the cost of commuting and housing attainability is a major problem – would also benefit from additional outer-suburb mixed use urban centres.</p>
<p><em>4.</em> Create low-water-use outdoor community spaces. Grass requires a lot of water. With water levels expected to be a major long-term issue, Mike says cities can better manage water usage by developing courtyard-style housing, and European-style outdoor community spaces (much like piazzas) that are water-wise through the use of materials such as pea gravel to replace turf and drought-tolerate plant species such as olive trees.</p>
<p><em>5.</em> Build water-wise, medium-density homes. NSW planning minister Rob Stokes is pushing for more medium-density housing in the State. This will bring residents multiple benefits. Townhouses and courtyard homes, with their turf-free outdoor spaces, will result in a significant reduction in water usage. In contrast to apartment complexes, townhouses and terraces provide individual street frontages, allowing residents to feel connected to their neighbourhoods. If townhouses are designed like the successful terrace models in Sydney, Melbourne, Vancouver, Seattle and Toronto, homeowners will be able to capitalise on their properties by building 40 sqm granny flats above their garages.</p>
<p><em>6.</em> Recognise walking and cycling as the privileged modes of transport. Townhouse communities can be designed with small streets at their rear providing access to garages. This minimises garages and driveways at the front of properties, enabling uninterrupted walking and cycling along tree-lined street frontages. This will improve safety and quality of life for pedestrians and cyclists. Imagine kids being able to safely walk to school again!</p>
<p><em>7.</em> Strive to embrace the UN’s Sustainable Development Goals. All 193 United Nations member countries have adopted the 17 UN Sustainable Development Goals (SDGs), to be achieved by 2030. These SDGs envisage the delivery of sustainable cities and neighbourhoods, protecting the planet and ensuring prosperity for all. Mike says that the bushfires have raised our awareness internationally, and that we need to act on them now. The Federal Government, State Government and the urban development industry need to more comprehensively action the SDGs.</p>
<p><strong>MIKE DAY </strong><em>is one of Australia’s best-known urban planners and designers, the co-founder and director of <a href="https://www.robertsday.com.au/people/mike-day/" target="_blank">RobertsDay</a> and a fellow of the Planning Institute of Australia </em></p>
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Australia needs to build a new 'Canberra' every year: Mike Day

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<p><span>Starting off the new year with the right market </span>conditions, there are a handful of locations that have indicated strong growth potential this year in the south- eastern regions of Melbourne, according to the latest Herron Todd White (HTW) residential report. </p>

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<p><span>The report suggests one of the suburbs to look out for is Officer. </span></p>

<p><span>Located approximately 50 kilometres south-east of the central business district and situated between Pakenham and Berwick, Officer has become one of the fastest growing<br>
suburbs in the outer south-eastern growth corridor.</span></p>

<p><span>"Officer stands to be one of the best suburbs to invest in for 2020, where the median house price is $549,000 and the gross yield is 3.8 percent.</span></p>

<p><span>"With affordable house and land packages combined with low interest rates, government incentives and looser loan serviceability tests, these new estates are perfect for those looking to purchase their first home or migrating families who are looking to make Melbourne their home for the first time," the valuation firm said. </span></p>

<p><span>[smartcode_project:default project_id=31283]</span></p>

<p><span>A four bedroom house in Officer has recently been sold for $610,000.</span></p>

<p>The four bedroom, two bathroom home is situated at <a href="https://www.realestate.com.au/sold/property-house-vic-officer-132746354" target="_blank">13 Zoe Lane</a> (pictured below).</p>

<p><span>It features open plan family room, formal lounge, modern kitchen and decked outdoor space. </span></p>

<p><span>The house is situated within walking distance to the cafe, future town centre and new medical centre. </span></p>

<p><span><img alt="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/2/24/officer%20.jpg"></span></p>

<p>A current listing in Officer is a four bedroom brick veneer house priced at $540,000 to$580,000.</p>

<p>Situated at <a href="https://www.realestate.com.au/property-house-vic-officer-131691118" target="_blank">58 Millicent Parade</a> (pictured below), the home comprises four bedrooms, two separate entertaining areas, and kitchen with walk in pantry. </p>

<p><img alt="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/2/24/officer%202.jpg"></p>

<p>Other features include wall to wall carpets, tiled wet areas and landscaped front and rear gardens. </p>
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Melbourne's Officer - one of the best suburbs to invest in for 2020: HTW residential 

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<p><span>The property market has shone in the past seven years showing extraordinary growth in property prices in the northern suburbs of Melbourne, according to the latest Herron Todd White (HTW) residential report. </span></p>
<p><span>The report notes last year’s property market results ended on a high note as we saw </span>the fastest turnaround in history, with improving prices and clearance rates leading into the new year of 2020.</p>
<p>With property values rising, sellers are expected to cautiously return to the market, increasing stock levels.</p>
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<p><span>"So, what do we know moving forward into 2020? We can be assured that the Reserve Bank’s main focus will be to decrease unemployment rates and to increase wages, which will likely result in interest rates falling further throughout the year, making </span>it even more affordable to enter the market," the valuation firm said. </p>
<p>This trend could see an upside in developing areas such as Craigieburn, Kalkallo and Mickleham, which may prove to be the only truly affordable option for the inner and outer northern suburbs.</p>
<p><span>"By offering properties at affordable prices, these areas may still be the choice for migrating families moving to Melbourne or country Victorians wanting to move closer to Melbourne," the valuation firm said. </span></p>
<p><span>A Craigieburn three bedroom house has been sold for $570,000.</span></p>
<p>The three bedroom, two bathroom home is situated at <a href="https://www.realestate.com.au/sold/property-house-vic-craigieburn-132823606" target="_blank">32 Newlyn Drive </a>(pictured below).</p>
<p><span>Set on 650sqm, the home comes with well-appointed kitchen, meals area, and pergola overlooking backyard. </span></p>
<p><span><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/2020/2/24/craigeburn.jpg" alt=""></span></p>
<p><span>Areas in the desirable suburbs of the inner north such as Abbotsford, Carlton and Richmond should expect to see moderate to low stock on the market.</span></p>
<p><span>The report notes blue chip properties that tick all the boxes will continue to perform in 2020.</span></p>
<p><span>"Low vacancy rates will also be evident in these areas with vacant dwellings being snapped up either by investors or renters," the valuation firm said. </span></p>
<p>A Richmond Victorian house has recently been sold for $1.67 million. </p>
<p>The three bedroom, one bathroom home is situated at <a href="https://www.realestate.com.au/sold/property-house-vic-richmond-132848686" target="_blank">10 Moorhouse Street</a> (pictured below). </p>
<p>It comes with open plan living, north facing courtyard and spacious kitchen. </p>
<p><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/2020/2/24/richmond%20.jpg" alt=""></p>
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Desirable Melbourne inner north suburbs to see low vacancy rates in 2020: HTW residential 

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<div class="column">Over the past few years, Melbourne CBD has witnessed an influx in supply of new apartments, according to the latest Herron Todd White (HTW) residential report. </div>
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<div class="column">The report suggests 2020 should see demand for Melbourne apartments remain steady as approvals for new residential developments hit a peak in 2017 and have since slowed down.</div>
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<div class="column">Most of these developments have been high density and located in the northern grid of the CBD.</div>
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<div class="column">"A slowdown in the residential development sector could slow the apartment supply, resulting in a boost in demand for rental properties due to strong migration and appeal of Melbourne to international and interstate higher education students and workers relocating closer to the business district, which has continually encouraged strong rental growth and helped maintain current rental returns for these CBD and inner city apartments," the valuation firm said. </div>
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<div class="column">A two bedroom apartment in Melbourne CBD has been listed for rent with a price guide of $700 per week.</div>
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<div class="column">The two bedroom, two bathroom apartment is situated at <a href="https://www.realestate.com.au/property-apartment-vic-melbourne-424612982" target="_blank">502/9-23 MacKenzie Street </a>(pictured below). </div>
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<div class="column">It comes with open plan living, design kitchen and terrace balcony. </div>
<div class="column"><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/2020/2/24/melbourne%20cbd.jpg" alt=""></div>
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<p><span>The report notes that one of the biggest struggles in the market is settlement for off-the-plan apartments. </span></p>
<p><span>It is proving a significant challenge for developers with many of the major lenders tightening or altering their lending policies to foreign investors or contracts subject to the Foreign Investment Review Board resulting in longer than normal settlement periods and further exacerbating settlement risk.</span></p>
<p><span>"New developments within city fringe suburbs such as South Yarra, Richmond, St Kilda, Abbotsford and Collingwood are contributing to this concern of oversupply. </span></p>
<p><span>"Demand will need to remain strong if supply is to be matched over the medium term." </span></p>
<p><span>A St Kilda one bedroom apartment has recently been sold for $406,000.</span></p>
<p>The 4th floor apartment is situated at <a href="https://www.realestate.com.au/sold/property-apartment-vic-st+kilda-132835810" target="_blank">408A/33 Inkerman Street</a> (pictured below).</p>
<p><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/2020/2/24/st%20kilda%20.jpg" alt=""></p>
<p><span>It features open plan living and dining, designer kitchen, alfresco balcony and bedroom with fitted BIRs. </span></p>
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Demand for Melbourne CBD apartments to remain steady in 2020: HTW residential 

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<p><span>2019 started in the doldrums and finished on a high with record sales across a number of suburbs in Newcastle, according to the latest Herron Todd White (HTW) residential report. </span></p>
<p><span>The valuation firm asked their </span>valuers to give an educated outlook on the residential market in their service areas.</p>
<p><span>The report notes records sales tend not to happen in a falling or subdued market.</span></p>
<p><a href="https://www.realestate.com.au/sold/property-house-nsw-bar+beach-131859426" target="_blank">16 Bar Beach Avenue, Bar Beach</a> (pictured below) sold for $5.525 million towards the end of 2019 and set the record in Newcastle for a single residential holding.</p>
<p><span>This eclipsed the $5.51 million paid at the beginning of 2019 for 40 Kilgour Avenue, Merewether.</span></p>
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<p><a href="https://www.realestate.com.au/sold/property-house-nsw-merewether-131281662" target="_blank">21 Flowerdale Drive, Merewether Heights </a>(pictured below) sold for $2.18 million with settlement due in the first quarter of 2020.</p>
<p><span>This property saw strong interest after a significant media campaign and is a record for the Merewether Heights location.</span></p>
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<p><span>So with the backdrop of a resurgent market and most agents reporting increased interest across the board, 2020 starts with a whiff of optimism (and at the time of writing, a fair waft of smoke). </span></p>
<p><span>The same could not be said for Newcastle and the Hunter 12 months prior in January 2019. </span></p>
<p><span>This time last year, pessimism abounded. </span></p>
<p><span>"How long this current resurgence lasts or whether it can be knocked off course easily is yet to be seen. </span>Our prediction is that it can’t be as strong as the last uptick (2012 to 2017), which was unprecedented for the area with massive increases across the board in all property sectors," the valuation firm said. </p>
<p><span>“Part-time psychologist hat being reached for and placed on head at a jaunty angle” warning.<br></span></p>
<p><span>"If we were to hazard a guess, it would be fair to say that we are at an interesting juncture in the market," the valuation firm said. </span></p>
<p><span>The recent boom is fresh in the minds of all property investors and professionals. </span></p>
<p><span>When the boom finished, many who either missed the boat or didn’t fully capitalise will have made promises to themselves that next time the ship sets off, they would get up that gangplank sharpish (or whatever it is they board ships with these days; with our smarts, we have probably moved past planks). </span></p>
<p><span>"We suspect that the recent gains in the market locally are born from the fear of missing out a second time. That’s a powerful driver in any market." </span></p>
<p><span>2020 is set to be a pivotal year in our future with a number of events all converging to a point where something monumental is likely to happen. </span></p>
<p><span>"We have US elections winding up like a coiled spring, ever-growing awareness of and focus on climate action and China testing out sovereign nations’ resolve across the globe. </span>Any of these have the ability to derail or boost the economy like nothing has for a decade or more," the valuation firm noted. </p>
<p>And Newcastle and the Hunter is like a bug hanging on for grim death to the windscreen, being buffeted by headwinds as speed quickly escalates, whilst simultaneously trying to avoid the jet of water shot fair up the caboose followed by the wiper of death.</p>
<p>"We are at the mercy of things bigger and more complex than us." </p>
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Newcastle market resurgence yet to be seen in 2020: HTW residential 

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<p style="text-align: left;" align="center">Melbourne CBD’s premier retail thoroughfare Swanston Street will offer the first test of the market for 2020, with a family offering for sale a building it has held for 70 years.</p>
<p>CBRE’s Melbourne City Sales team have been appointed to market 273 Swanston Street, which is set to <span>go to auction on </span><span>March 12</span><span>.</span></p>
<p>It is next to the McDonald’s on the corner of Lonsdale Street and Swanston Street. </p>
<p>In the Melbourne CBD’s booming northern precinct between Melbourne Central, Emporium Melbourne and QV Melbourne, the property is being offered to the market fully leased to an established hospitality operator.</p>
<p>“Swanston Street has long been regarded as Melbourne CBD’s most highly desirable and tightly held street of property ownership and this is truly a once in a lifetime opportunity,” Alex Brierley said.</p>
<p>Over the past five years Swanston Street has been transformed from a retail strip to food and beverage destination catering to Melbourne CBD’s booming student population. </p>
<p>Recent food and beverage leasing deals along Swanston Street have achieved rentals as high as $6,000 per square metre for smaller shops.</p>
<p>In a landmark deal, the former Jack London retail store at 301 Swanston Street was leased to popular chain David’s Hot Pot for approximately $400,000, for the 107 square metre ground floor space, negotiated by CBRE’s Zelman Ainsworth and Tan Thach.</p>
<p>“273 Swanston Street is well positioned to benefit from GPT’s new 10-level office tower that will sit atop Melbourne Central mall at 300 Lonsdale Street, which will drive rental growth well into the future,” Julian White added.</p>
<p>The last building to transact on Swanston Street was the 1930s-style, heritage 123 Swanston Street, which sold for just under $16 million, reflecting a 2.75 per cent yield, in 2015.</p>
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70-year wait for Swanston Street building in Melbourne: CBRE

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<p><span>Smithfield Property has purchased a mixed-use gem with multiple value add options for $3.9 million in Brisbane’s New Farm.</span></p>
<p><span>The property, at <a href="https://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39R+6hBQZ7yXMtZbL8K1IrWjVUh45Aq1JPvZgRKLiO1yIdaTuGmyPY7RBzTjk87oMXyuFthyeL5QE+aqhgjQE5jC4s771CGlAYIY1lj9REGYQGs6KxnEZLDH2o6oAsmKn60=&amp;rh=ff005a1ef76267a9fd1d1906694490ebed71f6fc" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">599 Brunswick Street</a>, offered a diversified income stream with a complimentary mix of retail, office and 16-room boarding house.</span><br><br><span>It was partially tenanted with half of the ground floor retail vacant and a short WALE of 1.05.</span><br><br><span>The property was sold by Ray White Commercial (QLD) Retail Investment Sales Michael Feltoe.</span><br><br><span>“The property had some unique features that really divided buyers into two camps. There were three easements and council requirements that significantly restricted development upside of the car parking land," Mr Feltoe said.</span></p>
<p><span><span>“The buyer acquired the asset on an eight per cent yield that reflected the long-term vacancy, overall short-term income security, and the amount of work required to bring the property up to standard.</span><br><br><span>In the last two years, the property had been formally on the market for sale twice with two other agencies, and had been under contract and fallen over a few times in some off-market processes by other agencies.</span><br><br><span>“Instead of doing the same thing again and expecting a different result, we recommended marketing the asset for sale via auction which generated a huge amount of enquiry (147).</span></span></p>
<p><span><span><span>“Smithfield Property were the perfect buyer due to both their track record with properties that need creative solutions and their requirement to relocate their office into the vacancy."</span><br></span></span></p>
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Smithfield Property pays $3.9 million for New Farm value asset

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<p>Recovery for investor stock in inner Sydney and eastern suburbs has been patchy and is largely dependent on the supply pipeline in the given area, according to the latest Herron Todd White (HTW) residential report.</p>
<p>The valuation firm asked their valuers to give an educated outlook on the residential market in their service areas.</p>
<p>"This time last year, we were discussing the reality of being amidst a property downturn, particularly due to tightening credit availability as a result of the banking royal commission along with widespread negative market sentiment.</p>
<p>"We are now experiencing very different conditions with most inner city agents reporting persistently low levels of listings and this, combined with the renewed interest caused by interest rate declines, is set to cause the market to continue to recover," the valuation firm stated.</p>
<p>This is particularly the case for good quality, owner- occupier dwellings.</p>
<p>The first home loan deposit scheme commenced on 1 January 2020 and is likely to have a direct impact on the lower end of the property market but also flow-on effects to mid-level properties.</p>
<p>The usual possible headwinds for the Sydney property market include affordability constraints, credit availability and wider economic and political matters.</p>
<p>"Surry Hills is one to watch this year, particularly since the completion of the light rail, which has improved the public transport servicing the area and implemented traffic calming and management measures to reduce congestion," the valuation firm said.</p>
<p>This combined with the removal of construction and the associated aesthetic improvements should see a price increase in the area.</p>
<p>It is then likely that the neighbouring bridesmaid suburbs of Darlinghurst and Redfern will see some value uplift as a flow-on.</p>
<p>"Similarly, Randwick, Kensington and Kingsford in the east will benefit from the completion of the Randwick section of the light rail last December, with the Kingsford section due to open in March this year," the valuation firm added.</p>
<p>Kingsford in particular, with a median house price of $1.98 million according to realestate.com. au, could well prove popular for buyers priced out of the neighbouring suburbs of Randwick ($2.35 million) and Kensington ($2,571,500).</p>
<p>After being one of the worst performing inner city suburbs in 2018, Pyrmont appears to be recovering, largely due to plans to redevelop the fish markets and surrounding Blackwattle Bay precinct.</p>
<p>In addition, Mirvac is looking to redevelop the nearby Harbourside shopping centre and The Star casino is undergoing expansion and refurbishment, with a proposal for a new hotel atop the building.</p>
<p>Redfern is well serviced by public transport and is close to the city, yet provides plenty of green spaces.</p>
<p>It appears to be comparatively affordable in relation to its surrounding suburbs with a median of $1.4 million for a three-bedroom property (realestate.com.au).</p>
<p>The median for a similar property in Surry Hills is $1.65 million and across the park in Paddington is a whopping $2.235 million.</p>
<p>A renovated three bedroom house in Surry Hills has recently been sold for $1.615 million.</p>
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<p>The three bedroom, one bathroom house is located at <a href="https://www.realestate.com.au/sold/property-house-nsw-surry+hills-132799382" target="_blank">25 Bennett Street</a> (pictured below).</p>
<p>It features stone topped kitchen, chic bathroom, and easycare garden.</p>
<p>The location is within close proximity to parks, Oxford Street and the CBD.</p>
<p><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/2020/2/10/surry%20hills%20.jpg" alt=""></p>
<p>"The suburb as a whole is shaking its social stigma and it remains a popular choice for young professionals and families with the eastern corridor of the suburb considered the most desirable," the valuation firm commented. </p>
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<p>As always, high density, investor centric markets should be treated with caution, particularly those with large pipelines of new apartments, including Waterloo, Zetland and Rosebery.</p>
<p>Whilst the current supply pipeline may settle and even return to below average levels in 2021, the timing of projects settling throughout 2020 is unfortunate for purchasers, as many projects sold off the plan in the peak of the market.</p>
<p>Therefore any purchasers unable to settle may be required to off load at a loss.</p>
<p>A recent example is <a href="https://www.realestate.com.au/sold/property-apartment-nsw-waterloo-131445738" target="_blank">106/16A Gadigal Avenue, Waterloo </a>(pictured below) in the Emblem development (below) that was sold off the plan on 17 June 2015 for $970,000 and re-sold (nine months after completion) on 21 August 2019 for $910,000.</p>
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<p>The report suggests the other factor impacting this market segment is the ongoing negative sentiment related to building issues in newer, large scale developments.</p>
<p>This could potentially continue to be a significant factor and it is imperative that purchasers take due care when buying into newer large scale developments.</p>
<p>There are a few other elements that will unfold throughout the year that could have specific effects on some locations throughout the inner regions of Sydney.</p>
<p>For example, the lockout laws are set to be wound back across much of inner city Sydney (although not in Kings Cross).</p>
<p>"It will be interesting to see if this has some impact on property prices through changes to nightlife premises operating hours and the flow on impacts of noise and patron behaviour.</p>
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<p>"CBD apartments are likely to also benefit from light rail completion and traffic flow alterations, while the WestConnex motorway construction is likely to continue to impact Rozelle, Lilyfield and some inner western areas." </p>
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Inner Sydney market continues to recover in 2020: HTW residential 

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.</p>

<p>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.</p>

<p>“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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.</p>

<p>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.</p>

<p><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" /></p>

<p>“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.</p>

<p>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.</p>

<p>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.</p>

<p>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>.</p>

<p><em>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></em></p>


Joel Robinson

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

<p><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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.”</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>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.</p>


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

<p>Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;</p>

<p>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;</p>

<p>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;</p>

<p>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;</p>

<p>Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;</p>

<p>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;</p>

<p>“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;</p>

<p>“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."</p>

<p>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;</p>

<p>"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;</p>


Bottega House secures landmark riverfront site in St Lucia 

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<p data-end="157" data-start="0">The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.</p>

<p data-end="459" data-start="159"><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.</p>

<p data-end="459" data-start="159">[smartcode_project:default project_id=112661 project_image_fid=359603]</p>

<p data-end="651" data-start="461"><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.</p>

<p data-end="950" data-start="653">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.</p>

<p data-end="1081" data-start="952">“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.</p>

<p data-end="1081" data-start="952">[smartcode_project:default project_id=112661 project_image_fid=355935]</p>

<p data-end="1307" data-start="1083">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.</p>

<p data-end="1522" data-start="1309">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.</p>

<p data-end="1522" data-start="1309">[smartcode_project:default project_id=112661 project_image_fid=361052]</p>

<p data-end="1714" data-start="1524">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.</p>

<p data-end="1945" data-start="1716">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.</p>

<p data-end="1945" data-start="1716">[smartcode_project:default project_id=112661 project_image_fid=359607]</p>

<p data-end="2220" data-is-last-node="" data-is-only-node="" data-start="1947">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.</p>
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<p>[smartcode_project_cta:default project_id=112661]</p>


SIERA kicks off construction at Northcliffe tower Exhale

<p data-end="320" data-start="79">Local Little Bay residents, along with buyers from premium postcodes across Sydney’s affluent Eastern Suburbs, have dominated purchases in developer-builder Urban Property Group’s first Eastern Suburbs apartment development, <a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a>.</p>

<p data-end="638" data-start="322">The $250 million coastal project, one of the first new developments in the area in several years, has proven particularly popular with downsizers, especially those from Coogee and Bondi. One Double Bay downsizer paid $4.7 million for a four-bedroom penthouse, setting a new local apartment price record in the process.</p>

<p data-end="864" data-start="640">Buyers have been attracted to the combination of coastal tranquillity, premium design and amenity-rich neighbourhood living. The walkable village setting, along with proximity to three of Sydney’s leading golf courses, New South Wales Golf Club, St Michael’s Golf Club and The Coast Golf Club, has also been a key drawcard.</p>

<p>[smartcode_project:default project_id=112343 project_image_fid=352689]</p>

<p>Built across two low-rise buildings designed by <a href="https://www.apartments.com.au/architects/hill-thalis-architecture-urban-projects-pty-ltd">Hill Thalis</a> and set along a lush, landscaped green spine, designed by leading landscape architect <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>, ESTE Little Bay offers a collection of one, two, three and four-bedroom residences with interiors by Richards Stanisich.</p>

<p><a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> Sales Director, Tom McIvor said the response to ESTE has been "nothing short of extraordinary."</p>

<p>“Buyers have been quick to recognise ESTE as a rare opportunity to invest in a coastal sanctuary that offers both seclusion and connectivity to the heart of Sydney,” McIvor said.</p>

<p>[smartcode_project:default project_id=112343 project_image_fid=352687]</p>

<p><a href="https://www.apartments.com.au/project-marketer/srm-residential">SRM Residential</a> Senior Director, <a href="https://www.apartments.com.au/project-marketer/srm-residential">Clayton Ross</a> said the local market has responded incredibly well, driven by ESTE’s exceptional location and the rarity it offers.</p>

<p>“We’ve seen strong interest from a variety of buyer groups, all of whom are drawn to the exclusivity and quality of the build and construction by the 4.5-star iCIRT-rated builder / developer, Urban Property Group. There’s truly nothing else like it along Sydney’s coastline.”</p>

<p>[smartcode_project:default project_id=112343 project_image_fid=352690]</p>

<p>The project also includes robust buyer protections, including Resilience Insurance’s Latent Defects Insurance, providing 10 years of structural cover, and an independent iCIRT-rating of the developer.</p>

<p>“The iCIRT-rating adds another layer of confidence,” Ross added. “Buyers see it as a safeguard for their investment and their lifestyle.” A highlight of ESTE’s offering is its exclusive wellness amenities, including a heated rooftop infinity pool and outdoor heated spa, a state-of-the-art Technogym fitness centre, and a sauna.</p>

<p><a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a> is topped out and is on track to complete towards the end of 2026, with residents moving in before Christmas.</p>

<p>[smartcode_project_cta:default project_id=112343]</p>


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