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The Agency has launched in Canberra with Peter Micalos leading the way, as well as a significant project pipeline.
The Agency Group said they have always seen Canberra as a top priority in their national growth plans.
Matt Lahood (pictured left), The Agency’s CEO explains, “we have been waiting for the right partnership to fulfil The Agency’s Canberra expansion, which we have found in Peter Micalos (pictured right), our new senior partner."
"Peter has been a trailblazer in the Canberra property market for many years as an influential property development and real estate executive.”
<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/2020/2/20/The%20agency%20canberra.jpg" alt="">
Peter Micalos holds over 15 years of experience in senior roles with highly successful property developers, and has participated in approximately $5 billion worth of property transactions and been closely involved in Canberra’s most iconic real estate developments.
Previously General Manager - Development at Geocon and now founder of Intellectual Property, a boutique real estate and development management business, Peter Micalos has also been looking for the right national partner, he said,
Along with Peter Micalos’ project pipeline, that is estimated to grow to 2,000 units over 24 months and a total value of $1billion, Peter Micalos will be establishing The Agency’s bricks-and-mortar hub in Canberra and initiating a major recruitment drive.
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j.ballantyne1990-6AQqhLzZaK

The Agency launches in Canberra

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The real estate market of the Central Coast Region of New South Wales enjoyed a good year in 2019 and we don’t expect much changing for year 2020, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm asked their valuers to give an educated outlook on the residential market in their service areas in February. 
"Of course there are many factors that may change this. The most obvious factor likely to affect the market is the bushfire disaster seen across the state. 
"The Central Coast region has been affected by this, but to a much lower level than other regions. This means we can’t see a direct and significant effect on values and demand in the region," the valuation firm said. 
It remains to be seen this early in the year what operational changes, if any, lenders and insurers will implement as a result of the bushfires, but if changes occur within their respective spaces, there will be an indirect effect on the market.
"There is of course, a similar scenario in many parts of the state, and the Central Coast region sits between two markets that have been particularly affected, the Sydney and Newcastle markets," the valuation firm commented. 
Historically, the periods following significant events such as the devastating bushfires usually cause some disruption to the market and to a degree we do see this playing out in a period of consolidation - nothing new here.
"In Central Coast terms, the market is more likely to experience short term effects by excessive rainfall and flooding as we have seen in the past and if weather predictions prove correct, the region will have a lot of rain soon," the valuation firm added. 
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There weren’t any really identifiable standouts across the various market segments in 2019 and this is expected to be the case in 2020. 
"We saw the completion of several residential unit complexes in 2019. Almost all of the individual units within these complexes were sold off the plan from as far back as 2016.
"As completion drew close and developers starting calling for settlements, we were instructed to provide current valuations for mortgage purposes," the valuation firm said. 
In most cases, the values held with some increasing and on the odd occasion, a fall in value was noted.
Construction of new residential unit developments waned during the latter part of 2019 and there remains only a few developments still under construction, meaning that the heat of this market segment has eased and this should provide an opportunity for the consolidation of values in both new and older units, the latter of which did suffer slightly due to the preference for new stock.
The report notes general housing showed little of the effects of market disruptors seen in other regions during 2019 and from our perspective, it was pretty much a case of the market for established dwellings being steady throughout the year. 
"We don’t see much changing in 2020 for this segment and no locations showing signs of emerging as the place to be," the valuation firm stated. 
"Last year we offered that the peninsula suburbs of Woy Woy, Umina Beach and Ettalong Beach would see a reduction in values on the back of several extraordinarily strong years of growth. 
"We couldn’t see the rise in values being sustained for long and to a degree, this occurred with some real estate agents referring to 2016 values as the new norm for this part of the region. Once again, we would suggest caution and well founded research when buying in these suburbs," the valuation firm said. 
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"If pushed to suggest an emerging market, then we suggest a look at the new estates around Berkeley Vale," the valuation firm noted. 
The land is considered good quality and well priced. As new dwellings are established here, the values both within the estate and adjacent should benefit. 
Considerable new home building activity remains a staple for the newer suburbs towards the northern end of the region. This includes the suburbs of Hamlyn Terrace and Wadalba. 
Both suburbs provide well priced land with services close by and handy access to the M1 Motorway.
A 7 bedroom dual occupancy house in Hamlyn Terrace has recently been sold for $790,000.
The large house with a self-contained granny flat is situated at <a href="https://www.realestate.com.au/sold/property-house-nsw-hamlyn+terrace-131806894" target="_blank">37 Georgia Drive</a> (pictured below).
It features multiple living and entertaining spaces, covered patio, swimming pool and side access for boat/caravan.
<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/hamlyn%20terrace.jpg" alt="">
A current listing is a Wadalda four bedroom house priced between $520,000 to $570,000.
Located at <a href="https://www.realestate.com.au/property-house-nsw-wadalba-132755342" target="_blank">13 Terka Street</a> (pictured below), the house comprises open living and dining spaces, three bedrooms, fourth bedroom or study and outdoor entertaining area. 
The house is situated minutes to schools, shops, sporting grounds and hospital. 
<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/wadalba.jpg" alt="">
"We see a resilience to market pressures in these areas due to the relatively solid levels of affordability," the valuation firm suggested. 
"At an operational level, our interaction with lenders and mortgage brokers increased during 2019. This follows an extended period of limited interaction with the placement of intermediary parties being the link between lenders and service providers." 
While that link correctly remains present, direct discussion has proven just as successful as lenders seek a more detailed understanding of what’s happening in their local markets to assist in paving their way forward.
As with the last year, there is a reasonably good level of market confidence present, with indications that this confidence will wane slightly in some segments as the year progresses. 
"If previous cycles repeat themselves, we can expect to see a period of reduced buy and sell activity," the valuation firm said. 
 Obvious determinants of this will include the cost of financing, stock availability and of course, the presence or absence of buyers and sellers. 
Less obvious at this early stage but perhaps more influencing will be effects of natural disasters and as always, the role of the media.
"Also as with 2019, we see 2020 proving to be an interesting one for local real estate following the market peaking in most segments.
"We say interesting because the traditionally reliable and predictive market indicators have or are likely to be different to those seen in previous, fairly predictive cycles. The activity and rises seen until very recently occurred over an extended and sustained period as opposed to previous cycles." 
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Central Coast property values expected to remain steady in 2020: HTW residential 

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A circa 1920's Armadale, Victoria home has been listed for sale via a March 2020 auction.
It comes with a $2.3 million dollar price guide and a planning permit for six apartments and one penthouse.
Situated at <a href="https://www.realestate.com.au/property-house-vic-armadale-133002594" target="_blank">62 Kooyong Road</a>, the listing does note that there is potential to instead renovate the existing brick home or knock it down and rebuild.
Mark Wridgway and James Paull or RT Edgeway are marketing the home.
The existing house is a five bedroom, one bathroom abode.
Set on 706 sqm, the home has been listed for $500,000 less than what it prevously sold for.
It last sold for $2,860,000 in 2018. 
The home was listed as a rental in 2018 seeking $875/pw
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><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/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median price for a house in <a href="/developments/armadale-vic-3143">Armadale</a> is $1.875 million according to CoreLogic data.
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Armadale mortgagee home with planning permit listed at $500,000 value reduction

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New data released by SQM Research today has revealed the national residential rental vacancy rate decreased in January 2020 to 2.1% from 2.5% recorded in December, with the total number of vacancies Australia-wide now at 72,422 vacant residential properties.
All states recorded decreases in vacancy rates with Darwin recording the highest vacancy rate at 3.2% followed by Sydney at 3.1%. Hobart’s vacancy rate remains steady at 0.6%, the lowest of all capital cities.
Adelaide and Canberra also recorded low vacancy rates of 1.0% and 1.4% respectively.'
<img src="https://www.urban.com.au/images/2020/2/18/Vacancy%20rates%20tumble%201.JPG" alt="">
The year on year comparison revealed a more moderate decline. The national rental vacancy rate back in January 2019 was 2.2% compared to 2.1% recorded for January 2020. Melbourne, Canberra and Hobart recorded higher vacancy rates compared to this time last year.
Managing Director of SQM Research, Louis Christopher said, "Following on from December, January’s vacancy rates are also affected by seasonality. We will have a clear picture of the rental market when the numbers for February are released."
"However, we do believe that rental vacancy rates have now peaked in Sydney, Brisbane, Perth and Darwin. And assuming a stable economy, these cities are likely to record gradually lower vacancy rates as 2020 progresses.”
Asking Rents
<img src="https://www.urban.com.au/images/2020/2/18/Vacancy%20rates%20tumble%202.JPG" alt="">
Over the month, Capital city asking rents increased 2.5% for houses and 1.1% for units for the week ending 12 February 2020 to record asking rents of $569 per week for houses and $442 per week for units. In comparison over the 12 months, asking rents increased 1.6% for houses and remained steady for units.
Sydney, Melbourne and Perth all recorded increases in asking rents for both houses and units over the month.
Darwin and Hobart recorded decreases in both house and unit asking rents. Darwin had a 2.9% decline for houses and 2.5% for units whilst Hobart recorded 2.5% decline in houses and 1.4% in unit asking rents.
Brisbane recorded a decrease in house asking rents of 0.4% but increases of 0.2% in unit rents. Canberra and Adelaide had a reverse trend of increases in house rents but decrease in unit rents.
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Vacancy rates fell across Australia reaching record lows in some states: SQM Research

Insights into RBA thinking February 2020: RBA Minutes

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Water restrictions in Greater Sydney are expected to be relaxed to Level 1 on the 1st of March as Sydney Dam levels reach 80 per cent following recent rainfall. 
Minister for Water, Property and Housing Melinda Pavey said Level 2 water restrictions will remain in place for two more weeks to reduce the demand on the water supply network and ensure water quality remains high.
“We recently experienced the biggest rain event in 20 years, which has impacted the quality of raw water in Greater Sydney’s bushfire affected catchment,” Mrs Pavey said. 
“A number of initiatives are in place to ensure the water is safe for use, including extensive testing, filtration and nets to catch debris, but we are allowing an extra two weeks purely as a precautionary measure.”
“It will also give the system time to recover and on the 1st of March we expect Greater Sydney will revert back to Level 1 water restrictions, subject to water quality assessment by Water NSW and Sydney Water.”
Under Level 1 water restrictions, residents and businesses are not able to leave hoses running unattended, wash vehicles and buildings with a hose that isn’t fitted with a trigger nozzle, or use standard sprinklers and watering systems at any time. 
Mrs Pavey acknowledged people have been patient and applauded their efforts to reduce the amount of water being used annually – from 200L per person per day in 2017, to 180L today.
“Despite a 26 per cent increase in population, the total demand for drinking water remains lower than it did before mandatory restrictions were introduced in late 2003,” Mrs Pavey said.
Fines will still apply for breaches of water restrictions - $220 for residential breaches and $550 for businesses. Exemptions will be available for non-residential customers with outdoor water use as their core business.
For a full list of requirements for Level 1 and 2 water restrictions visit: lovewater.sydney
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Water restrictions in Greater Sydney expected to be relaxed from March

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The Australian government's Clean Energy Finance Corporation (CEFC) has invested up to $60 million in green home loans with rates as low as 2.44 per cent this year.
The property sector accounts for around 23 per cent of Australia's greenhouse gas emissions, according to the Australian Sustainable Built Environment Council figures. Around half of it comes from residential buildings due to the use of heating, ventilation, air-conditioning, lighting and hot water systems the figures show.
This new discount loan is to encourage the construction and purchase of energy-efficient homes and help reduce household emissions. 
<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/3_StockBreakouts/green-huis-breakout-3187521.jpg" alt="">
What is considered 'green' enough for the green home loan?
To qualify for the discounted rate, borrowers must submit certification that the homes they are buying or building have achieved a minimum of 7-stars under the <a href="https://www.certifiedenergy.com.au/nathers-per-state-ebook?hsCtaTracking=570461df-e398-4895-9cc2-e632610ddb09%7Cf6a680be-2731-4574-9a53-5013b5fc2128" target="_blank">Nationwide House Energy Rating Scheme (NatHERS)</a> in addition to the normal borrowing criteria. 
CEFC executive director investment, Richard Lovell says the green home loan will fill a gap in the market to give builders and home buyers a financial incentive to adopt NatNERS design principles from the start of the project. 
"New homes built today will be in use for decades to come. We want those homes to have the strongest energy efficiency and to delivery the smallest carbon footprint possible.
"We believe this is a useful tool to get it happening in the market so that financial markets could support emissions reduction in the residential housing stock.
"We have the option of extending it and making it a recurring program, depending on the market response."
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Which lenders offer green home loans?
Bank Australia 
The new <a href="https://www.bankaust.com.au/personal/borrow/home-loans/clean-energy-home-loan/" target="_blank">Bank Australia Clean Energy Home Loan</a> (BACEHL) offers qualifying builders and home buyers a 0.4 percentage point discount for up to five years on mortgages worth $1.5 million or less.
On a standard mortgage of $350,000, this would equate to savings of $1400 a year, or $7000 over the life of the loan. Half of the discount will be funded by the CEFC finance and the other half by Bank Australia.
Currently, there are three options for the BACEHL.
The 7 Star + opinion is for new builds or existing homes that meet a high standard of energy efficiency. In order to qualify for this BACEHL option, the property must have a NatHERS rating of 7 stars or higher which can be proved with a NatHERS Certificate completed by a HatHERS accredited assessor. 
Alternatively, a property can also qualify if it has a Residential Efficiency Scorecard rating of 7 stars or higher, excluding the impact of rooftop solar instalments; Passive House Certification; or, Green Star's Design &amp; As Built score of 8 points of higher on the credit '15 Greenhouse Gas Emissions'. 
<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/2020/2/14/2_Green%20BANK%20LOAN.jpg" alt="" width="561" height="320">
The <a href="https://direct.bankaust.com.au/MHCwa/DefaultAn.aspx?Instance=5D085108400047&amp;LoginType=0C&amp;QuestionnaireID=085D0351&amp;LayoutID=085D0158&amp;BroadcastID=&amp;CheckSum=4C5C055906&amp;notrack&amp;_ga=2.226959259.743840930.1581651236-1432342159.1581651236" target="_blank">Property Upgrade</a> and <a href="https://direct.bankaust.com.au/MHCwa/DefaultAn.aspx?Instance=5D085108400047&amp;LoginType=0C&amp;QuestionnaireID=085D0351&amp;LayoutID=085D0158&amp;BroadcastID=&amp;CheckSum=4C5C055906&amp;notrack&amp;_ga=2.226959259.743840930.1581651236-1432342159.1581651236" target="_blank">High Energy Efficiency</a> opinions are not available yet, but potential borrowers can register their interests online.
The Property Upgrade option is designed for existing homeowners that implement three or more eligible sustainable upgrades, or achieve a minimum 1 star improvement to the energy efficiency assessment as assessed by the Residential Efficiency Scorecard.
Meanwhile, the High Energy Efficiency option is a higher discount that can be applied to loans for new builds or existing homes that have three eligible sustainability features like a minimum NatHERS rating of 8 stars, a solar system, a battery or a real-time in-home energy monitoring system. 
Those who qualify for a BACEHL will receive an interest rate discount from the Premium Home Loan Package.
This package features:
<ul>
<li>No redraw fee which is available during the fixed rate period of the home loan;</li>
<li>Fee waived on your everyday banking, the Everyday Access or Mortgage Offset accounts;</li>
<li>No annual fee on the bank's Platinum Rewards Visa Credit Card, and zero per cent on balance transfers for 12 months;</li>
<li>No establishment fee for Personal loans and home loan top-ups, as well as</li>
<li>10 per cent off general insurance products across buildings, contents and comprehensive motors.</li>
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In addition, the interest paid back on any Bank Australia home loan will not be used to fund any industries that cause harm like fossil fuels, live animal exports, or nuclear weapons.
Bank Australia managing director, Damien Walsh says the decision to launch the Clean Energy Home Loan was driven by customers who cared deeply about sustainability and climate change. 
Mr Walsh says, "Our customers have told us that they care about sustainability and action on climate change and Bank Australia is a customer-owned bank, so we seek to reflect their values and take priority on the areas that are concerned to them."
"We want a high proportion of our loan book to be energy-efficient homes, and we want to be able to track progress towards emissions reductions in our portfolio.
"An individual home may not have huge emissions, but when you add up all the homes we finance, that's a really big opportunity for us to make a difference by helping customers reduce the environmental impact of their homes," he explains. 
Mr Lovell and Walsh both agree that the $60 million initial investment could be extended by both Bank Australia and the CEFC depending on the uptake. 
Regional Australia Bank
The Regional Australia Bank's <a href="https://www.regionalaustraliabank.com.au/personal/products/home-loans/sustainable-home-loan" target="_blank">Sustainable Home Loan</a> features a variable rate of 3.31 p.a. 
To qualify for the Sustainable Home Loan, the borrower's home must have at least one feature from List A and at least two features from List B: 
<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/2020/2/14/2_REGIONAL%20.jpg" alt="">
Source: <a href="https://www.regionalaustraliabank.com.au/personal/products/home-loans/sustainable-home-loan" target="_blank">Screenshot of Regional Australia Bank </a>
This Sustainable Home Loan also features:
<ul>
<li>100 per cent Offset Accounts with up to eight per loan account;</li>
<li>Split Loan options;</li>
<li>Advance payment options;</li>
<li>Option to redraw;</li>
<li>a maximum term of 30 years;</li>
<li>an interest only payments available for up to five years;</li>
<li>Discounted Interest Rate on Your Choice Visa Credit Card; and </li>
<li>Waived Access Fee on Transaction and Savings Accounts.</li>
</ul>
There are similar options available at Bendigo Bank, Maleny Credit Union, and Hunter United but are not supported by CEFC. 
Mr Lovell says CEFC would like to see other lenders follow suit, "we are absolutely keen to see other banks and non-banks develop similar products in the same space and we're more than happy to work with any financiers that do want to try."
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Government sponsored mortgage discounts for green home purchases

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New data released today by the Housing (Supply) Minister shows that the Federal Government’s First Home Loan Deposit Scheme is already helping millennials achieve their home ownership aspirations and giving a boost to regional areas.
The data shows that 34 per cent of applicants are aged between 25 and 29, while 76 per cent of applicants are aged between 18 and 34, with millennials making up the largest share. This represents 3,055 first home buyers taking the opportunity to buy their first home sooner.
These figures ring true with research undertaken for HIA in 2018 which found that 92 per cent of renters aspire to own their own home, yet only 49 per cent believe they will achieve that dream. The Scheme is clearly helping.
Where first home buyers are looking to live is also encouraging. A large number of applicants, including millennials, are looking to buy outside the major cities of Sydney, Brisbane and Melbourne. This suggests that people are starting to think outside the box (and the capital cities) when they think about buying their first home.
The house price cap in these locations is on average around $400,000 and even then the data shows most borrowers are seeking approval to buy houses below that maximum price.
Free standing houses are the most popular purchase with the scheme, which tends to suggest people are buying existing homes, rather than new homes. This is something HIA has raised with the Government and we will continue to investigate as the Scheme matures to ensure first home buyers have a choice.
There is no simple or single solution to increasing the rates of first home ownership but it is important to ensure that at the heart of any incentive scheme, greater housing supply is a core objective. Achieving this helps both first home buyers and those renting and saving their deposit.
No doubt this strong early take up will encourage the Government to think about increasing the number of places for the scheme in 2021.
All Australians seek to have secure housing options. Home ownership is an important fundamental of achieving that and increasing housing supply will have trickledown effect for the economy as whole.
HIA is heartened to see the Scheme receiving so much interest and so many first home buyers now being able to achieve their home ownership dream.
KRISTIN BROOKFIELD is the Chief Executive of Industry Policy at HIA
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First home buyer scheme supports regional areas and millennials: HIA's Kristin Brookfield

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Household financial comfort fell across regional Australia during the six months to December 2019, according to ME Bank’s latest Household Financial Comfort Report.
While ME Bank’s latest biannual survey showed the financial comfort of metropolitan households increased 3% to 5.76 out of 10 to near record highs – especially in eastern Australia – financial comfort for regional households fell 4% to 5.08, continuing a decline over the past year to approach its lowest point in the past eight years.
ME’s Consulting Economist, Jeff Oughton, said the gap in financial comfort between regional and metropolitan households had now reached a record 13%, almost twice the historical average of 7%.
“The sharp fall in financial comfort in regional areas is likely a result of ongoing drought and recent bushfire catastrophes, which have significantly lowered already low levels of financial comfort."
"‘Comfort with cash savings’ fell 9% and the ‘ability to deal with financial emergencies’ fell 7%, while long-term retirement comfort deteriorated, with ‘anticipated standard of living in retirement’ down 7%."
"Regional Queensland reported the largest fall in comfort, down 14% to 4.95, dipping below regional New South Wales (5.09) and Victoria (5.20)."
“In contrast, the improvement in the financial comfort of metropolitan households reflected significant gains in all key drivers, with record high levels of comfort approached in Sydney (up 1% to 5.94), Melbourne (up 3% to 5.91) and Brisbane (up 10% to 5.82).”
Record low mortgage rates and rising house prices improving comfort with debt in the major cities
Across the 11 key drivers that make up ME’s Household Financial Comfort Index, the biggest improvement was with ‘comfort with debt’, up 5% to 6.55 out of 10, reaching record highs. ‘Comfort with debt’ increased 7% for households in metropolitan areas, particularly those with mortgages on their homes or on an investment property.
“Significantly lower home loan rates and relatively low and stable unemployment rates helped to significantly improve ‘comfort with debt’ – especially in major capital cities, while a partial reversal of the fall in residential property prices in eastern capital cities and expectations of further price gains have also eased gearing concerns,” said Oughton.
Mortgage stress eases further and expected debt management improves Consistent with a significant fall in home loan rates, sustained low unemployment and improved property prices in most of Australia, mortgage stress eased a bit further during the past six months.
Nevertheless, there remains generally high levels of mortgage stress and significant other financial stress amongst households.
Record low Reserve Bank official interest rates helping, but divide households 
For the first time in the latest survey, ME asked households if they thought they were ‘better’ or ‘worse off’ as a result of the historically low official interest rates.
Overall, slightly more households reported being better off (27%), compared to worse off (23%), while the remaining half of households reported they weren’t impacted positively or negatively.
“Those households paying off a mortgage felt they were far better off than those renting or who already own their homes. When it came to investors with debt, results show they feel they’ve benefitted the most (60% ‘better off’) from the flow on to record low mortgage rates – an indication of the high level of gearing among residential property investors in Australia.”
In terms of life stage, young singles and couples with no children appeared to be the biggest winners, with over half (51%) saying they were ‘better off’, followed by couples with young children (41%).
Property price optimism revised higher
The report revealed household optimism regarding the outlook for residential property prices has continued, with both owner occupiers (47%) and investors (51%) revising up price expectations for 2020.
Brisbane investors and owner occupiers were the most optimistic about higher property prices (67% and 61%, respectively), followed by Melbourne owner occupiers (55%) and Sydney investors (51%). Owner occupiers in Perth (29%) remain the least optimistic in this regard.  
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Household financial comfort fell across regional Australia: ME Bank

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Capital city auctions saw a national success rate hovering around 78 per cent. 
Canberra recorded the highest clearance rate this weekend with 90 per cent, while Sydney sat at 80 per cent.
Melbourne was the busiest auction market with just over 700 auctions, according to CoreLogic. Sydney was the second busiest capital with 578 offerings.
Of the 386 Sydney results captured, 304 homes sold.
In Melbourne, 586 results were captured and 464 homes sold.
<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/2020/2/17/CoreLogic%20Feb%2017.jpg" alt="">
Sydney had the most expensive sale among the capitals when <a href="https://www.realestate.com.au/property/74-cascade-st-paddington-nsw-2021">74 Cascade, St. Paddington</a> sold through Phillips Pantzer Donnelley prior to auction for $4,675,000.
It was architecturally designed by Noekdesign and newly rebuilt by Huntsman Constructions. 
<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/2020/2/1_Paddington.jpg" alt="" style="caret-color: #000000; color: #000000;">
The former three-bedroom, two-bathroom house had previously sold for $2.3 million. 
<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/2020/2/1_Paddington_2.jpg" alt="">
The 183 sqm block has been transformed into a luxury home with aged brass finishes, and Venetian plaster walls.  
There was also $4,510,000 pre-auction ocean-view sale at <a href="https://www.realestate.com.au/sold/property-house-nsw-clontarf-132769278" target="_blank">10 Peronne Avenue, Clontarf </a>through Stone Estate Agents. 
<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/2020/2/1_Oceanview.jpg" alt="" style="caret-color: #000000; color: #000000;">
The four-bedroom, two-bathroom house was previously sold for $3,120,000 in 2009.
A six-bedroom, three-bathroom house at <a href="https://www.realestate.com.au/property-house-nsw-strathfield-132617658" target="_blank">25 South Street, Strathfield</a> sold at auction for $4,420,000 through Richard Matthews. 
Sydney's most affordable auction was at <a href="https://www.realestate.com.au/property/unit-10-39-bathurst-st-liverpool-nsw-2170?pid=p4ep-pdp%7Csold-pdp:property-history-cta#timeline" target="_blank">10/39 Bathurst, St. Liverpool</a> which sold for $340,000 through RW Parramatta. 
Domain reported the highest residential sale in Melbourne was a four-bedroom, two-bathroom house at <a href="https://www.realestate.com.au/property/50-chaucer-st-st-kilda-vic-3182" target="_blank">50 Chaucer Street, St Kilda</a>. 
The 399 sqm holding sold through Belle Property for $3,710,000. 
There had been a $2.7 million to $2.9 million price guide, with an opening bid of $3 million from the first of three bidders
<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/2020/2/1_MEL.jpg" alt="">
Melbourne's cheapest auction sale at <a href="https://www.realestate.com.au/property-apartment-vic-richmond-132818338" target="_blank">8/182 Coppin, St. Richmond</a> sold through Biggin &amp; Scott Richmond for $290,500. 
The one-bedroom, one-bathroom apartment price guide had been between $265,000 and $290,000.
Brisbane's priciest listing at <a href="https://www.realestate.com.au/property-house-qld-highgate+hill-132566870">19 Rosebery Street, Highgate Hill</a> did not sell.
Brisbane's highest sale was <a href="https://www.realestate.com.au/property-house-qld-new+farm-132599094" target="_blank">12 Clay Street. New Farm</a> which sold through Ray White at $1,895,000.
Built in 1890, it last sold for 1,030,000 in 2014.
<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/2020/2/1_Bris.jpg" alt="">
The five-bedroom, three-bathroom house is situated on 298 sqm of land.
Brisbane's most affordable house sale at <a href="https://www.realestate.com.au/property/45-grice-cres-ningi-qld-4511" target="_blank">45 Grice Crescent, Ningi</a> sold for $370,000 through Raine &amp; Horne.
The three-bedroom, two-bathroom house sold at a loss with its last sale in 2013 for $413,900.
The shock sale of the weekend was when the garage at <a href="https://www.realestate.com.au/property-residential+land-vic-albert+park-202587130" target="_blank">32 Little Graham Street</a>, Albert Park, belonging to a retired plumber, Frank Davis, fetched $645,500. 
It sold through Greg Hocking, whose price guide had been $365,000 to $400,000. 
The 90-year-old  paid $8000 for the property in 1984 for <a href="https://www.realestate.com.au/news/albert-park-garage-sells-for-645500-at-hot-auction/" target="_blank">"storing my plumbing gear"</a>. 
<img src="https://www.urban.com.au/images/2020/2/1_Garage.jpeg" alt="">
Some seven bidders battled for the 46 sqm real estate among a 100-plus crowd.
The buyers, Lola and Brenton Smith of Templestowe Lower, secured the property. 
Canberra's auction volume was down. 
However, Canberra recorded the strongest clearance rate of 90 per cent. 
The most expensive sale was <a href="https://www.realestate.com.au/property/6-welsh-pl-chifley-act-2606" target="_blank">6 Welsh Place, Chifley</a>, a four-bedroom, two-bathroom house which fetched $1,135,000 through McGrath Woden. 
It was last sold for $235,000 in 2002. 
<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/2020/2/1_CANBERRA.jpg" alt="">
Canberra's most affordable auction sale was a three-bedroom, one-bedroom house at <a href="https://www.realestate.com.au/property-house-act-holt-132845330" target="_blank">16 Sellwood Street, Holt</a>.
Built around 1975, the 104 sqm residence sold for $496,000 through Luton Properties.
There were 14 registered bidders at an auction in Canberra for a large home at <a href="https://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39R+6hBQZ7yXMt0Z3VIjNMZG/82IddyOwvlx0uwzb2nnICtXdeXxuax8&amp;rh=ff005a1eb05551cdee63205ebf489cee80dc7e19" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">16 Bussell Crescent, Cook</a> which sold for $1.3 million to a local family.  
Ray White agent Troy Reddick noted the average number of bidders was rising "so we’re expecting to have a strong year.” 
Adelaide had the cheapest sale among the capitals with <a href="https://www.realestate.com.au/property-house-sa-davoren+park-132767686" target="_blank">12 Walpole Street, Davoren Park</a> through Harcourts.
The 720 sqm land parcel sold at a loss for $117,000 at its mortgagee auction.
The three-bedroom, one-bathroom property last sold for $127,000 in 2005. 
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There were 1,555 homes taken to auction across the combined capital cities this week.
It was 1,167 auctions were held last week, returning a revised clearance rate of 67 per cent, according to CoreLogic.
Over the same week last year, auction volumes were slightly lower with 1,450 homes going under the hammer across the combined capital cities, returning a final auction clearance rate of just 51 per cent.
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Sydney clears 80 per cent of real estate at weekend auction, Melbourne 79 per cent

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>

Joel Robinson

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]

SIERA kicks off construction at Northcliffe tower Exhale

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>.

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.

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.

[smartcode_project:default project_id=112343 project_image_fid=352689]

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.

<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."

“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.

[smartcode_project:default project_id=112343 project_image_fid=352687]

<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.

“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.”

[smartcode_project:default project_id=112343 project_image_fid=352690]

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.

“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.

<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.

[smartcode_project_cta:default project_id=112343]

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