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A waterfront Sanctuary Cove trophy home located in Sanctuary Cove Resort has been listed with an asking price of $3.5 million.
The four bedroom, four bathroom 526 sqm home sits on an 851 sqm block.
Situated at <a href="https://www.realestate.com.au/property-house-qld-sanctuary+cove-132653846" target="_blank">1014 Edgecliff Drive</a>, Glenys Pitkin of Harcourts Coastal is marketing the property.
The home features a pool, a 21 metre pontoon and 25 metres of deep water frontage.
<img src="https://www.urban.com.au/images/2019/12/17/JAN%20Beach%201%20-%202.JPG" alt="">
Located on Hope Island, the home was previously listed for sale at $1,395,000 before being taken off market back in 2011.
Last sold for $1,348,200, the home was purchased in 2007.
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j.ballantyne1990-6AQqhLzZaK

Waterfront Sanctuary Cove Resort trophy home listed for $3.5 million

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Economists are highly divided on whether the Reserve Bank of Australia (RBA) made the right number of cuts to the cash rate last year, according to the latest Finder survey.
In this month’s Finder RBA Cash Rate Survey, when asked if the RBA was right to make 3 cuts in 2019, only half of the respondents to this question said it made the right call (50%,13/26).
Of the other half of experts who disagreed with the Reserve Bank's decisions, most (42%, 11/26) said the RBA should have cut less.
Graham Cooke, insights manager at Finder, said the RBA’s decisions will never please everybody.
“On the one hand, some experts say the cutting was 'overzealous' and is seeing house prices soar while most economic metrics have been stagnant."
“Others think the RBA hasn’t done enough to repair the economy in light of lagging employment and inflation figures."
“One thing is clear: three cuts have reignited the housing market and pumped up property prices across the country."
“With more cuts on the horizon, it remains to be seen whether cheaper credit and lower rates will be an elixir or a poison pill," he said."
RBA cash rate expected to hold
Nearly 9 in 10 experts and economists predict the RBA will hold the cash rate in February (87%, 34/39) with just 13% expecting a cut.
The experts predicting a cut cited the bushfires, weak wage growth, low inflation and high unemployment as the main issues necessitating an easing.
Besa Deda of St.George Economics said; “In the absence of wage pressures, inflation remains well below target. More stimulus is required to return growth to trend.”
Cooke noted the forecast for a rate cut in February dropped from 66% before the December meeting to just 13% this month.
Nearly 4 out of 5 who made a forward prediction (not including February) forecast a cash rate drop by May 2020 (79%, 23/29).
A quarter of experts predict a cut in March (24%, 7/29), while nearly a third predict a cut in April (31%, 9/29). Another quarter predict a cut in May (24%, 7/29).
Only 2 of the 39 experts (5%) on the panel thought the eventual move, whenever it happens, would be a rise.
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Half surveyed experts think RBA went wrong with rate cuts: Finder Survey

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EXPERT OBSERVER
Australia’s job market remained resilient at the turn of the year, despite the bushfire crisis impacting large swathes of the country. In January, ANZ’s job ads measure rose by almost 4 per cent – the biggest gain since June 2019. The pick-up follows the creation of 67,000 new jobs in November and December, pushing the jobless rate back down to 5.1 per cent – near 8-year lows.
Aussie unleaded petrol prices fell to 5-month lows last week. Pump prices are averaging a smidgen over $1.40 a litre across the nation. In the more competitive retail fuel markets on the east coast, prices at the bowser are currently averaging around $1.30 a litre – at the lowest levels since September 2019.
So why are petrol prices so low? The retail petrol price discounting cycle is keeping a lid on prices in Brisbane, Sydney and Melbourne. But motorists should fill up now. Pump prices are close to the bottom of the cycle - now 20 days old – and will begin lifting by the weekend.
Concerns about China’s oil demand due to the coronavirus impact on economic activity are another factor pushing down Aussie petrol prices. In fact, the US Nymex crude oil price plummeted by 16 per cent in January – its worst start to a year since 1991. And the Singapore benchmark gasoline price - the largest component of fuel prices paid by motorists - fell to 8-month lows of US$66.25 a barrel last week. In Australian dollar terms, the Singapore gasoline price fell by $2.90 or 2.9 per cent to $98.53 a barrel or 61.97 cents a litre – also an 8-month low.
What do the figures show? Petrol prices
According to the Australian Institute of Petroleum, the national average price of unleaded petrol fell by 8.3 cents to 140.3 cents a litre last week. The metropolitan price fell by 12.0 cents to 137.0 cents a litre and the regional price fell by 1.1 cents to 146.8 cents a litre.
Average unleaded petrol prices across states and territories over the past week were: Sydney (down 14.0 cents to 133.1 c/l), Melbourne (down by 12.9 cents to 138.5 c/l), Brisbane (down by 12.6 cents to 135.1 c/l), Adelaide (down by 22.2 cents to 138.2 c/l), Perth (down by 1.9 cents to 140.0 c/l), Darwin (down by 1.1 cents to 138.7 c/l), Canberra (down by 0.2 cents to 146.4 c/l) and Hobart (down by 0.2 cents to 155.5 c/l).
The smoothed gross retail margin (2-month rolling average) for unleaded petrol rose from 15.06 cents a litre to a 7½-month high of 15.29 cents a litre (24-month average: 13.2 cents a litre).
The national average diesel petrol price fell by 0.4 cents to 149.8 cents a litre over the past week. The metropolitan price fell by 0.4 cents to 148.4 cents a litre and the regional price was down by 0.4 cents to 151.0 cents a litre.
Today, the national average wholesale (terminal gate) unleaded petrol price stands at 127.5 cents a litre, down 2.9 cents over the week. The terminal gate diesel price stands at 131.5 cents a litre, down by 3.5 cents over the past week.
MotorMouth records the following average retail prices for unleaded fuel in capital cities today: Sydney 129.5c; Melbourne 132.0c; Brisbane 130.4c; Adelaide 146.7c; Perth 129.6c; Canberra 146.3c; Darwin 138.4c; Hobart 155.3c.
The key Singapore gasoline price fell by US$3.20 or 4.6 per cent last week to 8-month lows of US$66.25 a barrel. In Australian dollar terms, the Singapore gasoline price fell by $2.90 or 2.9 per cent to $98.53 a barrel or 61.97 cents a litre – also an 8-month low.
Building Approvals - December
Council approvals to build new homes fell by 0.2 per cent in December to 14,752 units. But approvals are up by 2.7 per cent from a year ago – the strongest annual growth rate in 19 months.
House approvals fell by 0.1 per cent and apartment approvals were down by 0.3 per cent.
In trend terms, overall approvals rose by 2.1 per cent in December – the biggest increase in over 2 years.
Over the past year 172,510 new homes were approved, below the decade average of 196,675 units.
Dwelling approvals across states/territories: NSW (down 30.5 per cent); Victoria (up 34.0 per cent); Queensland (down 5.7 per cent); South Australia (down 20.1 per cent); Western Australia (up 5.4 per cent); Tasmania (down 8.9 per cent). In trend terms: Northern Territory (up 4.7 per cent); ACT (up 1.0 per cent).
The value of all commercial and residential building approvals rose by 13.4 per cent in December. Residential approvals rose by 2.6 per cent with new building up by 3.2 per cent, but alterations &amp; additions were down by 1.8 per cent. And commercial building rose by 30.9 per cent.
Over the year to December, building approvals totalled $115.4 billion, 15.5 per cent above the decade average.
Job advertisements - January
ANZ job advertisements rose by 3.8 per cent in January - the biggest lift in 7 months. But ads were still down by 11.8 per cent over the year to 149,544 in seasonally adjusted terms.
Inflation gauge - January
The Melbourne Institute monthly headline inflation gauge rose by 0.3 per cent in January. The annual growth rate lifted from 1.4 per cent in December to 1.8 per cent in January. The smoothed 12-month annual average of the gauge is at 1.67 per cent in October – just above the slowest growth rate in 2½ years.
The trimmed mean gauge lifted by 0.4 per cent in January to be up 1.6 per cent from a year ago – below the Reserve Bank’s 2-3 per cent underlying inflation target.
What are the implications for interest rates and investors?
Aussie residential building activity is showing more evidence of stabilising. In fact, building approvals in trend terms rose by 2.1 per cent in December – the biggest monthly gain since September 2017. Apartment projects are driving volatile outcomes in NSW and Victoria. But the strong rebound in Sydney and Melbourne home prices, record-low borrowing costs and still-solid population growth could underpin demand and the eventual bottoming-out in the construction sector by late 2020.
Reserve Bank policymakers will be heartened that multiple interest rate cuts supported jobs growth in late 2019. While the impact of bushfires on the labour market is still unknown, ANZ’s leading indicator of jobs growth made a promising start to 2020.
Commonwealth Bank Group economists continue to expect another interest rate cut from the Reserve Bank in the coming months to support the economy.
RYAN FELSMAN is a Senior Economist CommSec
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Australia's job market remains resilient despite bushfires: Ryan Felsman

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Nationally rents were up half a percent in January taking the annual change in rental rates to 1.3%, according to the latest CoreLogic report.
The report found that rental growth generally remains weak across most markets, however the recent trend has been towards a subtle rise in rental appreciation.
A year ago the national rental index was rising at an annual rate of just 0.4%. The improvement in rental rates can be attributed to a tightening in rental supply.
Housing finance data shows investor participation in the housing market is near record lows and new supply additions are tapering.
Hobart remains the tightest rental market, with rents up 5.8% over the past twelve months, followed by Adelaide (+2.0%) and Perth (+1.9%), while rents are still trending lower on an annual basis in Darwin (-1.9%) and Sydney (-0.6%).
CoreLogic's Tim Lawless said, "with housing values rising more rapidly than rental rates, gross rental yields are swiftly compressing. Across the combined capital cities the gross yield was tracking at 3.50% in January; the lowest yield reading since March 2018 and only eleven basis points away from record lows."
"Gross rental yields in Sydney, where housing values have surged higher against a backdrop of falling rents, remain at record lows, tracking at just 3.0% in January."
"Higher rental yields can be found in cities where rental conditions have been stronger relative to housing values. Despite overall weak housing market conditions, Darwin gross rental yields are the highest of any capital city at 5.8%, which is a reflection of housing values falling more than rental rates."
"The healthiest yield dynamic is in Hobart where overall tight housing conditions have pushed gross rental yields to 5.0%, providing a total return (gross yield plus annual capital gain) of 10.5%."
"Although gross rental yields are trending lower, so too are mortgage rates. At the end of December, the average three-year fixed rate for an investor mortgage was 3.48%."
"This is still slightly lower than capital city gross rental yields, implying that more properties will be showing a positive cash flow for investors, and paying off a mortgage may be more affordable than paying rent in many areas," he concluded.
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Rental growth remains generally weak across the nation in January: CoreLogic

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Australia’s property and real estate leaders will become Big Issue vendors this week, selling the street magazine as part of The Big Issue’s annual CEO Selling event.
CEO Selling is part of International Vendor Week, an annual celebration of 9,000 street paper vendors in 35 countries around the world.
CEOs and leaders from REA, Landcom, Stockland, PEXA, Cbus Property and many more will take to the street from Monday 3 February to show their support for vendors experiencing homelessness, disadvantage and marginalisation.
In Australia, more than 800 vendors sell The Big Issue each year. Vendors purchase copies of the magazine for $4.50 and sell them for $9.
Alongside CEO Selling, The Big Issue is also celebrating more than 13 million copies sold of the magazine since starting in 1996. 
Guest sellers are available for interview, photos and footage. See the full list <a href="https://www.thebigissue.org.au/news/2020/01/24/ceoselling-2020/" target="_blank">here</a>.
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Property CEOs and Leaders support The Big Issue magazine

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It was a tricky year in the property markets last year, with the landscape shifting in some capitals following the Federal election which saw a new FHB initiative.
There were many stories that caught the eye of our readership.
Property Observer's 19 most popular stories of 2019 including our regular columnist Terry Ryder who endeavoured to point out <a href="/expert-insights/investing/australias-top-10-property-price-growth-areas-in-2019-hotspottings-terry-ryder">Australia's top 10 property price growth areas</a>.
There was also Ryder's contribution on <a href="/expert-insights/buying">Where is it a good time to be buying property in 2019</a>.
There was also strong reader interest in the <a href="/expert-insights/top-five-suburbs-for-property-investors-in-2019-margaret-lomas">Top five suburbs for property investors in 2019: by Margaret Lomas</a>.
Bad news triggered strong interest especially when <a href="/news/prestige-melbourne-home-builder-canny-builders-goes-into-voluntary-administration">Prestige Melbourne home builder Canny Builders went into voluntary administration</a>. 
In Sydney there was the <a href="/expert-insights/investing/chinese-epping-developer-collapse-sees-61-gondon-elysee-apartments-for-sale">Chinese Epping developer collapse triggering 61 Gondon Elysee apartments for sale</a>.
We watched after <a href="/news/landmark-white-shares-fall-10-percent-after-dark-web-data-revelation">LandMark White shares fall 10 percent after dark web data revelation</a>.
A big story was after cracks emerged in the apartment market with concerns over the quality of construction.
The issue extended to legacy builders as evident when <a href="/news/cracks-see-frasers-property-clemton-park-village-caught-up-in-widening-apartment-building-defect-calamity">Cracks saw Frasers Property Clemton Park Village caught up in widening apartment building defect calamity</a>.
Readers were keen to see the <a href="/news/nsw-government-to-appoint-building-commissioner-following-industry-reform-report">NSW government appoint Building Commissioner following industry reform report</a>.
There were <a href="/news/precast-column-movement-concerns-stops-work-at-cbus-447-collins-street-pantscraper-twin-tower-project">Precast column movement concerns that briefly stopped work at CBUS 447 Collins Street, Pantscraper twin tower project</a>.
There were emerging trends including <a href="/expert-insights/techfin-and-the-technology-battle-of-the-banks">Techfin and the technology battle of the banks</a>. 
Along with build to rent. <a href="/news/nsw-government-shortlists-three-consortia-for-redfern-build-to-rent-development">NSW Government shortlists three consortia for Redfern build-to-rent development</a>.
The 19th most popular article was a curiosity story showing the a<a href="/news/precast-column-movement-concerns-stops-work-at-cbus-447-collins-street-pantscraper-twin-tower-project"> </a>shift to residency seeing <a href="/news/shift-to-residency-sees-sydneys-palm-beach-top-ato-tax-payers-list">Sydney's Palm Beach top ATO tax payers list</a>. 
There's no higher profile celebrity than <a href="/news/selling-houses-australias-andrew-winter-lists-his-own-reno">Selling Houses Australia's property guru Andrew Winter who listed his own reno</a>. It did sell eventually.
Readers loved it when <a href="/news/delta-goodrem-secures-4-8-million-paparazzi-proof-sydney-bolthole">Delta Goodrem secured a $4.8 million paparazzi-proof Sydney bolthole</a>.
The Block always captures attend and last year it was <a href="/expert-insights/building/the-agencys-jesse-raeburn-portrayed-as-cocky-contestant-on-skint-the-block-goldrush-series">The Agency's Jesse Raeburn when portrayed as cocky contestant on skint The Block Goldrush series</a>.
There's no sale yet but readers were interested in <a href="/news/mortgage-choice-co-founder-peter-higgins-lists-sydney-polo-club">Mortgage Choice co-founder Peter Higgins listing Sydney Polo Club</a>.
Development projects always attract interest: we saw strong readership of the <a href="/expert-insights/buying/development-approval-for-goldfields-project-in-chatswood">Development approval for Goldfields project in Chatswood</a>.
Plus interest when the <a href="/expert-insights/investing/historic-cyclops-leichhardt-toy-factory-listed-with-development-potential">Historic Cyclops, Leichhardt toy factory was listed with development potential</a>.
There was interest when the <a href="/expert-insights/investing/leichhardt-warehouse-with-residential-development-potential-sold-for-3-335-million">Leichhardt warehouse with residential development potential sold for $3.335 million</a>.
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Property Observer's top 19 stories of 2019

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The Australian housing market ended 2019 on a firm footing, with NAB’s Residential Property Index climbing to its highest level in nearly 6 years.
NAB's survey expectation is for price growth to accelerate in all states in 2020-2021, led by NSW and VIC.
Property professionals also see price growth overtaking rents for the first time in 2 years, suggesting yields will compress in the future.
With mortgage rates falling and the new First Home Buyers (FHB) Loan Deposit Scheme taking effect from January 2020, FHBs dominated sales in new housing markets and increased their market share in established markets. Meanwhile Foreign buying activity was again relatively subdued.
NAB's Alan Oster said, "Tight credit remains the biggest constraint on new housing development, and access to credit the biggest impediment for buyers of existing property, but property professionals indicated their impact on the market was less severe in the final quarter of 2019."
NAB’s forecasts on residential prices
NAB’s view is that while prices have rebounded more strongly than expected in the second half of 2019, dwelling price growth will slow in an underlying sense in 2020 and 2021 in Sydney and Melbourne.
Mr Oster said, "Outcomes for the other capitals are likely to be more mixed, driven by state specific factors."
"Overall, we expect nationwide dwelling prices to rise by around 4% in 2020 before growth slows to around 2½% in 2021."
"Low interest rates are expected to continue to provide support, as is the low level of unemployment and still healthy population growth in Sydney and Melbourne, however affordability constraints will arise as prices reach their previous peak," he added.
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FHB's to play a key role as foreign buyers remain subued: NAB

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A brand new Broadbeach Waters trophy home has sold for $3.025 million.
It took the better half of a year to sell the home following an initial asking price of $3.3 million which was later reduced to $3.25 million.
The four bedroom, five bathroom house is situated at <a href="https://www.realestate.com.au/sold/property-house-qld-broadbeach+waters-132329286" target="_blank">1/94 Monaco Street</a>.
Jay Helprin and Michael Kollosche of Kollosche Prestige Agents sold the 2019 built home.
<img src="https://www.urban.com.au/images/2019/12/17/Beach%209%20-%202.JPG" alt="">
Spanning 634 sqm across four levels, this architecturally designed industrial abode boasts bespoke finishes throughout.
Just two days after it sold on December 11 2019 the home was listed for rent seeking at $3250/pw.
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Brand new Broadbeach Waters trophy home sold for $3 million

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A luxurious three-bedroom house in Tweed Heads West is up for February 2 auction. 
The  home has many features include a boat shed, poolside deck, aquarium, outdoor shower,
There an unobstructed views of the Terranora Creek. 
The original residence was knocked down by vendor Jade Golar to make way for his "dream house". 
He said he had a clear vision from the start but conceded the house turned out better than expected.
<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/2020/1/21/5_Living%20room.jpg" alt="">
"I wanted a cross between a beach home and a Hamptons home and wanted elements of those two styles tied together," he noted.
"The house is designed around entertaining, cooking, pool days, boating, wake boarding and fishing." 
<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/2020/1/21/5_Kitchen.jpg" alt="">
The residence features traditional Hamptons styling including crisp white paint, weatherboard cladding, plantation shutters and natural light.
The ground floor has a bar and wine cellar, and opens through bi-fold doors to the pool and creek while the second level has a saltwater atrium and open-plan kitchen, dining and living area which opens to a deck overlooking the pool. 
<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/2020/1/21/5_Aquarium.jpg" alt="">
It has been listed by LJ Hooker agent, Ben Tribolet. 
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Waterfront Hamptons-style trophy home in Tweed Heads West listed for auction

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As part of a $200 million investment from First State Super to address the issue of key worker affordable housing in Australia, the Fund has announced the acquisition of 55 new units, 6km from the CBD.
This brings the Fund’s total commitment to affordable housing to nearly $200 million in NSW and Victoria; believed to be the largest investment in key worker affordable housing by any institutional investor in Australia.
Victorian Minister for Housing, the Honourable Richard Wynne MP, joined First State Super CEO Deanne Stewart and several healthcare industry representatives for the first official tour of the Moonee Ponds development on 30 January. Mr Wynne congratulated First State Super for its efforts to address the affordable housing pressure facing many key workers.
The rental properties will be available for key workers (healthcare, aged care, disability services, teachers, law enforcement, emergency services, childcare and associated industries) to rent at 80 per cent of the market rate for the area and boast short commutes to several leading Melbourne hospitals and schools.
Nine out of every 10 hospital workers in Melbourne live more than 4 kilometres from their work and face an average commute time of 47 minutes, 32 per cent longer than the state average. For health and social service workers in Melbourne, that commute time increases to 56 minutes, 38 per cent longer than the state average for their industry.
First State Super has for some time been investigating how we can be part of the solution to the housing affordability issues many members and other key workers who care for and protect our community, face in cities such as Sydney and Melbourne.
We now have four other similar investments in NSW and will shortly commence construction on our next project in Miranda NSW.
Located in the leafy suburb of Moonee Ponds, the new apartments are in close proximity of major health facilities including Royal Melbourne Hospital, Royal Children's Hospital, Peter MacCallum Cancer Centre and Royal Women’s Hospital; as well as 15 primary and secondary schools.
In addition to the new Moonee Ponds investment, First State Super has purchased 35 residential units located in Hurstville (15km from CBD), 17 residential units located in Waterloo (4km from CBD), 61 residential units in Epping (22km from CBD), and 35 residential units in Northmead (27km from CBD) across NSW.
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First State Super addresses housing stress in Victoria's workers

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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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.

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