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Renting in Inner Melbourne has a greater risk of increased premium, according to Secret Agent’s latest bulletin.
“An investor should be looking to try and maximise yield when finding a rental property.
“However, they also need to be mindful of the relationship between yield and risk.
“Often a higher yield can mean more risk, such as oversupply," the report noted.
“The higher yield of inner Melbourne (5.3 percent) reflects the greater risk premium.
<a href="https://www.propertyobserver.com.au/images/2017/06/23/Screen%20Shot%202017-06-23%20at%2010.29.42%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/23/Screen%20Shot%202017-06-23%20at%2010.29.42%20am.jpg" alt="">
“East Melbourne which offers a tight yield of 3.47 percent is the ultimate blue chip location, however the yield isn’t too attractive.
“Be careful of looking solely at yield to making investment decisions.
“It’s possible to obtain yields above 10 percent in remote regional locations, but once a tenant has vacated, it may be a long time before another tenant is discovered,” the bulletin stated.
For more information from Secret Agent, <a href="https://secretagent.com.au/">click here</a>.
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j.ballantyne1990-6AQqhLzZaK

The higher the rental yield, the higher the risk: Secret Agent

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Across Australia, total unoccupied dwellings rose to 1,039,874, or 11.2 percent of the total 9.2 million private homes.
It was at 10.7 percent of the total five years earlier. 
Perth had the highest proportion of empty dwellings, with 11 percent. Melbourne was second with 9.6 percent.
In Sydney 7.7 percent of properties were unoccupied, up from 7.2 percent. Melbourne's 9.6 percent was up from 9 percent.
On census night there were 167,500 dwellings in Melbourne left vacant, 26,000 more empty homes than in 2011.
Unoccupied houses are often holiday homes or properties that can't be rented out.
Kristina Clifton, economist at the Commonwealth Bank, noted there had been a lot of talk in the press about foreigners purchasing new apartments and then leaving them empty.
The Federal government is trying to deter this type of activity with a new vacancy tax for foreigners introduced in the latest Federal Budget in May.
The Victorian Government is also introducing a similar tax.
"It’s been difficult to work out the extent to which this is happening.
"But the Census data tell us that the proportion of dwellings that are unoccupied increased by 0.5 percentage points (ppts) to 11.2 percent over the four years to 2016.
"The increase was 0.2 ppts larger than over the four years to the 2011 Census.
"Of the additional stock built over the four years to 2016, around 17 percent has been left unoccupied."
Clifton noted one caveat however is that we don’t know the ownership split between domestic and foreigners owners for this unoccupied housing stock. 
The average home had 2.6 occupants.
But the number of households with six or more people jumped in Sydney over the past five years.
There were 76,323 homes in Sydney with six or more, up 20 percent from the 63,168 five years earlier.
The next biggest increase was among five-person households, which picked up 10.2 percent to 130,712.
Kids staying at home longer, share houses, or multi-generational households, the higher number of people living under one roof is becoming more common.
 
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Empty homes on the rise, but so are more crowded homes: 2016 Census

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<img src="https://counter.theconversation.edu.au/content/80068/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
The great Australia dream of owning your own home is still alive despite the various problems plaguing housing affordability, new Census data shows. Even though the overall home ownership trend remains strong, it’s masking other issues.
The latest 2016 Census data assesses what the national home ownership and rental rates are and how these vary location. It also gives us a picture of mortgage and rental costs.
Comparing home ownership rates since the 2011 Census, there’s a slow but steady decline in home ownership rates overall - down by 2.9% from 64.9% of all Australian households in 2006, to 62.0% in 2016. However, 7.4% of households did not state their housing tenure in the 2016 Census. This accounts for some of the variation in reported rates of home ownership decline. 
This contraction is nowhere of the scale of equivalent falls in home ownership in the US and UK and New Zealand over the same period. 
<a href="https://www.propertyobserver.com.au/images/2017/06/29/Screen%20Shot%202017-06-28%20at%208.14.47%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/29/Screen%20Shot%202017-06-28%20at%208.14.47%20AM.png" alt=""> 
What’s more interesting than the overall trend, is the greater decline in outright home ownership, involving no mortgage debt, from 31.0% to 29.6% between 2011 and 2016. There’s also a lesser decline in home owners who are purchasing with mortgage debt 33.3% in 2011 compared with 32.4% in 2016. 
The opportunity households now have to borrow against their mortgage loans for spending undoubtedly accounts for some of this change. Also contributing to this is home purchasers are less likely to reach retirement age with no remaining mortgage debt, in the same numbers as previous eras.
Another aspect of housing affordability is masked by these numbers - the wide variation in being able to purchase a home according to age and income. Recent evidence indicates would-be-home-owners try various means including very high mortgage debt and moving to outer urban locations away from employment and into smaller dwellings, to be able to buy a house. Some even delay having kids. 
<a href="https://www.propertyobserver.com.au/images/2017/06/29/Screen%20Shot%202017-06-28%20at%208.18.03%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/29/Screen%20Shot%202017-06-28%20at%208.18.03%20AM.png" alt="">
Census figures show that for people wanting to purchase a home, a change in state or city location may be an option. According to the data Darwin was the most expensive city to buy in, whereas Hobart was the cheapest for home purchasers.
For households across the income spectrum, 7.2% of purchasers are paying more than 30% of their income on mortgage costs, the data shows. This figure is likely to be far higher among the lowest income (40% of households) for whom such costs place them in housing poverty.
Given the national obsession with investment in private rental, it’s no surprise that the proportion of all Australian households now renting has also increased. Census 2016 results show the private rental sector grew in size, from 20.2% in 2006, to 22.0% in 2011 and to 23.6% in 2016. In 2016 a total of 2,089,633 Australian households rented privately, either from real estate agents or private landlords.
The growth of the private rental sector largely reflects the high costs of home purchase. Many households who rent have a relative lack of security and control over rental increases.
<a href="https://www.propertyobserver.com.au/images/2017/06/29/Screen%20Shot%202017-06-28%20at%208.19.36%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/29/Screen%20Shot%202017-06-28%20at%208.19.36%20AM.png" alt="">
For those unable to pay rent in the private market, social housing is likely to provide little relief. Census data shows overall rates of social housing declining from 4.7% in 2006 to 4.0% in 2016. In this context, the growth in rates of homelessness in the last decade is perhaps not surprising.
For Indigenous Australians, the housing picture is different. Census 2016 data show among households in which at least one resident is Aboriginal and/or Torres Strait Islander, 12.2% are outright owners, 25.9% are purchaser owners, 32.4% are renting privately. Around a fifth of households, 21.5%, live in social housing, reflecting targeted social housing programs in metropolitan, rural and regional areas.
Overall, home ownership has not changed as dramatically in the last decade, as some would have anticipated. However, it’s likely with the labour market being what it is and the adaptations people are making to try and buy a home, there may be longer-term problems to be seen in future.
Excessive household debt, polarisation of cities into low and high income earning areas and deepening family housing constraints indicate these Census figures likely mask bigger problems. This may translate over time into a more costly social problem, as increasing proportions of households require housing assistance of some form. Australian society could become even more divided on the basis of housing wealth and opportunity, if these trends continue, as we expect they will.
<a href="https://theconversation.com/profiles/wendy-stone-9804" target="_blank">Wendy Stone</a> is Associate Professor, Centre for Urban Transitions, Swinburne University of Technology.
<a href="https://theconversation.com/profiles/kath-hulse-228874" target="_blank">Kath Hulse</a> is Research Professor, Centre for Urban Transitions, Swinburne University of Technology.
<a href="https://theconversation.com/profiles/margaret-reynolds-324336" target="_blank">Margaret Reynolds</a> is Researcher, Centre for Urban Transitions, Swinburne University of Technology.
<a href="https://theconversation.com/profiles/terry-burke-1268" target="_blank">Terry Burke</a> is Professor of Housing Studies, Centre for Urban Transitions, Swinburne University of Technology.
All are authors for The Conversation.
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Home ownership remains strong in Australia but it masks other problems: Census data

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Buying and renovating residential properties have become popular in Horsham, according to Herron Todd White’s latest report.
The property investment firm says that housing affordability is one of the main driving factors.
“The interest in buying and renovating residential properties has been increasingly popular within the Horsham market due to two main driving factors: housing affordability and the increasing popularity of home renovation shows.
“The renovation sector is dominated by owner- occupiers, using this opportunity to enter the property market and slowly develop a house into a home.
“Investors generally do the bare minimum to a property, only making it attractive to prospective tenants.
“The Horsham West area is becoming increasingly popular with buyers, due to its many older style homes that provide an opportunity to be renovated.
“If done to a tradesman like quality, these can achieve greater returns if looking to on-sell.
“While it is an increasingly popular pastime, renovators looking to on-sell a property must always keep in mind the current market conditions and be sure not to over capitalise in order to recoup the cost of the renovation,” the report stated.
A four bedroom house at <a href="https://www.realestate.com.au/property-house-vic-horsham-125679078" target="_blank">233 Blue Ribbons Road</a>, Horsham (above) has been listed for between $435,000 to $465,000.
Similarly a recently renovated four bedroom house at <a href="https://www.realestate.com.au/property-house-vic-horsham-124923710" target="_blank">32 Searle Street</a>, Horsham (below) has been listed for $257,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/20/32%20Searle%20Street.jpg" alt="">
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Renovation work in Horsham rising in popularity: HTW

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Logan Reserve ranks number one as the Queensland locality with highest housing stock growth, according to Investar’s latest June report.
The property investment firm says that Logan Reserve’s house stock has increased by 181 percent, from 64 offerings last year to 180 now.
This is followed by Holmview with 93 percent and Jensen with 89 percent.
<table style="width: 465px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="108">
Suburb
</td>
<td valign="top" width="64">
Postcode
</td>
<td valign="top" width="82">
Current median price
</td>
<td valign="top" width="70">
Current sales stock
</td>
<td valign="top" width="70">
Sales stock 1 year ago
</td>
<td valign="top" width="70">
Sales stock growth
</td>
</tr>
<tr>
<td valign="top" width="108">
Logan Reserve
</td>
<td valign="top" width="64">
4133
</td>
<td valign="top" width="82">
$416,000
</td>
<td valign="top" width="70">
180
</td>
<td valign="top" width="70">
64
</td>
<td valign="top" width="70">
181%
</td>
</tr>
<tr>
<td valign="top" width="108">
Holmview
</td>
<td valign="top" width="64">
4207
</td>
<td valign="top" width="82">
$425,000
</td>
<td valign="top" width="70">
112
</td>
<td valign="top" width="70">
58
</td>
<td valign="top" width="70">
93%
</td>
</tr>
<tr>
<td valign="top" width="108">
Jensen
</td>
<td valign="top" width="64">
4818
</td>
<td valign="top" width="82">
$476,000
</td>
<td valign="top" width="70">
36
</td>
<td valign="top" width="70">
19
</td>
<td valign="top" width="70">
89%
</td>
</tr>
<tr>
<td valign="top" width="108">
Jacobs Well
</td>
<td valign="top" width="64">
4208
</td>
<td valign="top" width="82">
$511,500
</td>
<td valign="top" width="70">
57
</td>
<td valign="top" width="70">
32
</td>
<td valign="top" width="70">
78%
</td>
</tr>
<tr>
<td valign="top" width="108">
Helidon
</td>
<td valign="top" width="64">
4344
</td>
<td valign="top" width="82">
$315,000
</td>
<td valign="top" width="70">
32
</td>
<td valign="top" width="70">
18
</td>
<td valign="top" width="70">
77%
</td>
</tr>
<tr>
<td valign="top" width="108">
Brookwater
</td>
<td valign="top" width="64">
4300
</td>
<td valign="top" width="82">
$679,000
</td>
<td valign="top" width="70">
62
</td>
<td valign="top" width="70">
36
</td>
<td valign="top" width="70">
72%
</td>
</tr>
<tr>
<td valign="top" width="108">
Griffin
</td>
<td valign="top" width="64">
4503
</td>
<td valign="top" width="82">
$479,000
</td>
<td valign="top" width="70">
176
</td>
<td valign="top" width="70">
104
</td>
<td valign="top" width="70">
69%
</td>
</tr>
<tr>
<td valign="top" width="108">
Rockville
</td>
<td valign="top" width="64">
4350
</td>
<td valign="top" width="82">
$280,000
</td>
<td valign="top" width="70">
37
</td>
<td valign="top" width="70">
22
</td>
<td valign="top" width="70">
68%
</td>
</tr>
<tr>
<td valign="top" width="108">
Collingwood Park
</td>
<td valign="top" width="64">
4301
</td>
<td valign="top" width="82">
$382,000
</td>
<td valign="top" width="70">
175
</td>
<td valign="top" width="70">
105
</td>
<td valign="top" width="70">
66%
</td>
</tr>
<tr>
<td valign="top" width="108">
Caloundra West
</td>
<td valign="top" width="64">
4551
</td>
<td valign="top" width="82">
$449,500
</td>
<td valign="top" width="70">
252
</td>
<td valign="top" width="70">
161
</td>
<td valign="top" width="70">
56%
</td>
</tr>
</tbody></table>
A four bedroom house at <a href="https://www.realestate.com.au/property-house-qld-logan+reserve-125458590" target="_blank">Lot 638 Livingstone Street</a>, Logan Reserve (above) has been listed for $405,500.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-qld-logan+reserve-124586378" target="_blank">17 Lake Broumba Street</a>, Logan Reserve (below) was sold in March for $415,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/13/17%20Lake%20Broumba%20Street.jpg" alt="">
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Logan Reserve ranks first for highest housing stock growth in Queensland: Investar

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Figures released from the 2016 Census of Population and Housing by the ABS shows the proportion of those owning their own homes outright has declined, falling to 31 percent in 2016 compared to 41.1 percent in 1991.
Census data released today shows residents with mortgages now account for 34.5 percent of the total, up from 27.5 per cent in 1991.
The census also found renters account for 30.9 percent, up from 26.9 percent in 1991.
"Australia's highest mortgages are paid by Sydneysiders, whose median repayments are around $2200 per month," the census found.
Home ownership dropped faster in Sydney than the national average, the latest census figures show.
Total dwelling ownership in the NSW capital dropped to 62.3 per cent in 2016 from 65.2 per cent five years earlier as both outright and mortgage-ownership fell. 
The nationwide home ownership rate dropped 1.5 per cent to 65.5 per cent between 2011 and 2016, but there were notable differences from city to city.
Nationally, home ownership fell to 65.5 per cent since the last census from 67 per cent. 
Darwin mortgages also sit around $2200 per month.
Canberra is next with $2100 per month, followed by Perth ($1950) and Brisbane ($1800). Melburnians pay $1750 per cent, while those in Adelaide pay $1500, just head of Hobart with $1450.
Similarly rents are highest in Sydney -- $440 per week - followed by Darwin ($420) and Melbourne ($350).
Sydney remains the most most expensive city with 14.2 percent of residents devoting more than 30 percent of their incomes on rents.
The proportion of tenants in Sydney increased from 31.6 per cent in 2011 to 34.1 per cent in 2016, making them the most dominant group in the city. Home owners with a mortgage declined from 34.8 per cent to 33.2 per cent. Fewer Sydneysiders owned their home outright – down to 29.1 per cent from 30.4 per cent in 2011.
The ABS Census noted we’re still a nation of home owners, or aspirational home owners, with 31 percent of Australian homes owned outright and 34 percent owned with a mortgage – leaving 31 percent being rented.
While separate houses still account for most homes in Australia (72 percent), there’s been a large increase in other forms of dwelling, such as flats, apartments, semi-detached, row housing or town housing, which now make up more than a quarter (26 percent) of Australian housing – all higher density residential development. 
"Of the 8.3 million occupied private dwellings, seven in 10 housed families (69 percent by one family and 1.9 percent by multiple families), one in four were one-person households, and one in 25 were group households," the Census papers noted.
The nation's diversity is also reaching what the bureau described as "a tipping point" - with 49.3 per cent of the population either born overseas, or born to parents who were born overseas.
Around 50.7 per cent described themselves as "third-generation" or more.
While the biggest number of overseas-born Australians still started life in either England or New Zealand, the last decade has seen the largest number of migrants coming from India (accounting for 13.7 per cent); China (13.3 per cent), followed by England (7.9 per cent), NZ (7.7) and The Phillipines (6 per cent).
Around 2 million migrants live in NSW - accounting for 28 per cent of that state's resident population.
Another 1.7 million live in Victoria (28 per cent of the total), followed by 1.02 million in Queensland (22 per cent), 797,000 in Western Australia (32 per cent), 384,097 in South Australia (26 per cent) and 61,240 in Tasmania (12 per cent).
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Australia's highest mortgages paid by Sydneysiders as ownership slips: ABS Census 2016

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The first stage release of Ascot Green, the $950 million residential masterplan at the historic Eagle Farm Racecourse in Brisbane developed by Mirvac is now on the market.
Stage One of Ascot Green will feature two towers, Ascot House and Tulloch House, with one, two, three and four bedroom apartments.
The nine storey Ascot House and 12 storey Tulloch House, both have expansive rooftop terraces with views.
Each apartment has large open plan living areas, bedrooms with extensive storage and very generous balconies overlooking the racetrack to the north or out towards Brisbane city to the south. 
Mirvac general manager of residential in Queensland Warwick Bible says Ascot Green was an Australian first, the first residential development to be built alongside a racecourse.
“Despite being surrounded by open space and greenery afforded by the Eagle Farm Racecourse, Ascot Green is unique in that it is just a few kilometers away from Brisbane city and very well connected to main transport routes and surrounded by established lifestyle amenity of Racecourse Road,” he noted.
Eagle Farm Racecourse is steeped in history, having been the centre of Ascot for some 150 years.
“To have this parcel of land become available is a truly unique opportunity as Ascot is renowned as one of Brisbane’s premier blue-chip suburbs and some of Brisbane’s best homes can be found in the 4007 post code. Ascot Green is an extension to this fantastic suburb.”
Ascot House is currently under construction, with the first residents scheduled to move in mid-2018.
For more information, <a href="https://ascotgreen.mirvac.com/?utm_source=Property+Observer+List&amp;utm_campaign=ddbce96d96-EMAIL_CAMPAIGN_2017_06_22&amp;utm_medium=email&amp;utm_term=0_a523fbfccb-ddbce96d96-245386345" target="_blank">click here</a>.
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First stage release of Eagle Farm, Brisbane's trackside Ascot Green

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A six bedroom house at Arcadia, the semi-rural Sydney location, has been listed for sale.
The two level <a href="https://www.realestate.com.au/property-house-nsw-arcadia-125515414">Berrilee Ridge</a> has been situated so that views can be seen from every room.
Situated on 25 acres of natural bush setting it features not only the main residence, but also a separate Coach House and barn.
The main residence features Gosford sandstone walls and deep stone verandahs.
The living room features its own fireplace while the spacious dining room and lounge gives unrestricted views over the property.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/26/Arcadia-2.jpg" alt="">
The kitchen has stone benchtops, butler’s pantry, Ilve double oven and gas cooktop.
Five bedroom all have their own walk-in robes, sitting areas and the master bedroom comes with spa ensuite.
Other features includes a natural rock pool with beach, timber deck and stone terraces.
The Coach House is fully self-contained and has a four car garage.
The property is offered through Ray White agent Sandra Ward.
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Six bedroom Arcadia house, Berrilee Ridge, listed for sale

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A Woollahra house has been sold for the first time.
Located at <a href="https://www.realestate.com.au/sold/property-house-nsw-woollahra-125623350" target="_blank">5 Weldon Lane</a>, off Holdsworth Street, it came to the market for the first time since it was purchased new in 1987 for $380,000.
The double garage has side-by-side parking while the upper level bedrooms has a master with ensuite and north facing balcony.
The home was marketed by Daniel Baran &amp; Reece Coleman from Stone Double Bay.
The property was marketed with a $3.8 million price guide.
The home was offered by the Merlini family following the passing last month of Estela Merlini, wife of the late Michael Merlini, former Pan Am &amp; United Airlines general manager for Australia.
The home is one of five near identical “terraces” built in Weldon Lane in the mid-1980s on the site of old Eyles Woollahra Swimming Pool, where the former Olympic Coach and Bondi legend, Sep Prosser, was notorious for pushing his students into the water to learn to swim. 
The pool had been built in the 1960s on the site of the Morrison’s “Famous” Cake Factory.
This is the first sale in the street since 1998. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/21/Screenshot_2.jpg" alt="">
Only 100m to Queen Street cafes, the 251sqm offering provided a canvas for a contemporary makeover with oversized living areas, three large bedrooms on the first floor and a prized Woollahra double garage.
It has its own laneway with an extra-wide 9 metre street frontage with generous open living spaces and front and rear court gardens.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/21/Screenshot_3.jpg" alt="">
 
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1980s Woollahra home sold for first time

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Star Hotels has snapped up the Kingsford Smith Motel at 610 Kingsford Smith Drive, Brisbane, for around $6 million from Charlton Hotels.
Kingsford Smith Motel is located in the prestigious suburb of Hamilton and is within close proximity to the Brisbane airport and cruise ships terminal.
The 4 Star motel offers 36 rooms in seven styles, WIFI, Air Conditioning, Cable/Satellite TV, swimming pool and a two bedroom manager’s apartment.
Nic Simarro, Senior Sales Executive for Hotels at Savills who negotiated the off market transaction said due to the lack of hotel stock available in CBD locations, current investors and funds management groups have been very aggressive with pricing in order to deploy capital”
“This is creating a highly competitive market for hotel assets across Australia, proving it really is a “vendors’ market” he continued.
The Kingsford Hotel, Brisbane is also on the market through the Hotels team at Savills and the Kingsford Riverside Inn, Brisbane recently sold $2.5m by the team.
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Star Hotels snaps up Kingsford Smith Motel, Brisbane through Savills

A trio of Queensland property groups have unveiled plans for a $300 million mixed-use redevelopment of the former Noosa Bowls Club site, a proposal that would deliver more than 200 new homes in one of the Sunshine Coast's most supply-constrained markets.

Kilter Property, Frank Developments and Calile Malouf Investments are behind the plans for the 1.8-hectare site at <a href="https://www.apartments.com.au/new-apartments/99-noosa-drive-noosa-heads-qld-4567">99 Noosa Drive</a>, which would transform the long-vacant site into a new residential precinct featuring 208 apartments, retail, hospitality and public space.

The proposal comes as Noosa continues to grapple with housing affordability and a shortage of permanent accommodation, particularly for key workers. The site's location in Noosa Junction, close to shops, public transport and employment, aligns with the direction of Noosa Council's Housing Strategy, which encourages higher-density housing within established activity centres rather than continued urban expansion.

The draft plans include 48 affordable-by-design apartments and 48 rooming accommodation units aimed at key workers. Around 2,000 sqm of ground-floor retail and food and beverage space would activate the street frontage, alongside a new public town square and landscaped open space.

<img alt="Noosa" data-entity-type="file" data-entity-uuid="2dd02f53-1360-4e51-801e-bfd61a6c980e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-26%20at%208.44.34%E2%80%AFPM.png?VersionId=x1iNs3BSMN6Jy7YUwaBZMHRrrKX2hMpy" />

&nbsp;

Frank Developments Founder and Director Frank Licastro said the development would continue the company's focus on architecturally-led residential projects while addressing one of the region's biggest challenges.

"Not only will this project exude a sense of luxury, it will also enhance not only the built environment but also the surrounding community," Licastro said.

"Noosa's success relies on the people who live and work here. Providing well-designed accommodation for key workers is critical to supporting the local economy and ensuring the Shire can continue to thrive."

Kilter Property Co-Founder Huw Williams said the focus was on delivering additional permanent housing while creating a mixed-use destination that benefits both residents and the wider community.

"Our focus is on delivering a well-considered mixed-use project that provides more permanent housing options, supports local workers and businesses, and delivers an exceptional product for the local market," Williams said.

"The redevelopment vision aligns with the long-term evolution of Noosa Junction as a vibrant activity centre, creating a destination that enhances the area's character while delivering significant economic and community benefits."

Calile Malouf Investments, best known for its role in Brisbane's James Street precinct and The Calile Hotel, will bring its place-making experience to the project. The company recently commenced construction on The Calile Noosa hotel and says the residential development will complement its growing investment in the region.

CMI Director Cal Malouf said the aim was to create a walkable precinct combining housing, retail and hospitality while remaining true to Noosa's character.

"We see a similar opportunity in Noosa to deliver a vibrant, walkable destination that combines exceptional housing, hospitality and retail in one integrated project," Malouf said.

Brisbane-based Cavill Architects has been appointed to design the project.

Joel Robinson

Noosa Bowls Club to be redeveloped into mixed-use apartment precinct

One of Brisbane's last major riverfront redevelopment opportunities has taken a significant step forward, with Lendlease selected as the Queensland Government's preferred development partner for the former Visy site in South Brisbane.

The seven-hectare industrial site, positioned between South Bank and West End and 1.3 kilometres from the Brisbane CBD, will be transformed into a mixed-use precinct expected to deliver more than 4,000 new homes alongside extensive public open space and riverfront parkland.

The project is one of the largest urban renewal opportunities currently planned in Brisbane and is expected to play a key role in accommodating the city's growing population ahead of the 2032 Olympic and Paralympic Games.

Plans for the precinct include a network of riverfront promenades and boardwalks, new public plazas, parkland, amphitheatre-style gathering spaces and shared pedestrian and cycling links designed to reconnect the long-isolated site with the Brisbane River.

The Queensland Government is targeting delivery of the first homes and key public spaces before the 2032 Games, allowing the precinct to begin contributing new housing and public amenity well before the broader masterplan is complete.

The redevelopment is also expected to support more than 3,000 jobs across planning, construction and ongoing operations.

For Lendlease, the appointment adds another major urban regeneration project to its Queensland portfolio. The developer has operated in the state for more than 70 years and has delivered a number of large-scale mixed-use precincts in partnership with government.

Lendlease Development CEO Claire Johnston said the project represented one of Brisbane's most significant redevelopment opportunities.

"The transformation of the former Visy site represents a rare opportunity to reimagine one of Brisbane's most significant riverfront locations, deliver thousands of much-needed homes, and create long-term legacy," Johnston said.

"In partnership with the Queensland Government, we have the opportunity to create a new riverside destination that will help shape Brisbane's growth and how people experience the city for decades to come.

"This is exactly the type of large-scale, city-shaping development that will provide lasting benefits for Queensland, bringing together housing, jobs and world-class public spaces."

Deputy Premier and Minister for State Development, Infrastructure and Planning Jarrod Bleijie said the riverfront transformation would deliver a thriving new community precinct.

“The Crisafulli Government is delivering this golden opportunity to unlock a riverfront jewel for all Queenslanders,” Deputy Premier Bleijie said.

“This is a once-in-a-generation moment to reshape a significant slice of Brisbane and deliver lasting benefits – thousands of new homes, and public spaces for all Queenslanders to enjoy well beyond the 2032 Olympic and Paralympic Games – unlike Labor’s plan which would have delivered zero benefits and zero new homes.

“Queensland is well and truly open for business and through partnership with the private sector, we are accelerating delivery while ensuring strong housing, community and economic outcomes."

Early works on the precinct are expected to commence in April 2027.

Lendlease selected to deliver transformative South Brisbane riverfront precinct

Eddy Haddad's <a href="https://www.apartments.com.au/developers/level-33">Level 33</a> is levelling up its approved Wollongong development, as the coastal city south of Sydney continues to prove popular in the high-density development space.

Level 33, a longtime developer in the Wollongong area, has gone through the NSW Government's Housing Delivery Authority to upsize its approved two-tower development on the corner of Crown Street and Gladstone Avenue, just 100 metres from Wollongong Station.

The developer currently has approval for 252 apartments across two buildings rising to 19 storeys. It is now seeking approval for 33 and 38-storey towers that would deliver 467 apartments, including 67 affordable homes.

Designed by <a href="https://www.apartments.com.au/architects/bka-architecture">BKA Architecture</a>, the development would comprise apartments above a three-level podium with around 1,100 sqm of retail space, along with basement parking for 448 vehicles.

According to the Urban Design Report by BKA, the proposal has the capacity to "reinforce the precinct's identity by strengthening links between health, education, and transport services, while also contributing to Wollongong's ongoing evolution as a key regional centre."

Wollongong is somewhat in vogue. Between Level 33 and Urban Property Group, the two developers have several thousand apartments planned across the city.

Level 33 is currently delivering Easterly Wollongong, one of its most boutique projects to date with just 21 high-end apartments, as well as Atchison &amp; Kenny, a 329-apartment development due for completion later this year.

The developer plans to redevelop the 13,088 sqm WIN Grand megasite into <a href="https://www.apartments.com.au/new-apartments/crown-square-216-238-keira-street-wollongong-nsw-2500">Crown Square</a>, a new $500 million precinct with nearly 600 apartments. It also has more than 900 apartments planned for the former Bunnings Warehouse site at the intersection of Gipps and Flinders streets.

Urban Property Group is also playing a major role in the city's transformation. Its five-tower Keira Place precinct will deliver more than 800 homes, and it has recently lodged plans for a further 300 apartments near Wollongong Station.

First look: Level 33 upsizes Wollongong apartment towers

Just a week after filing plans for the final stage of its major Keira Place masterplan, <a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has unveiled another significant housing proposal in Wollongong, this time targeting a prominent site opposite North Wollongong Station.

The developer has lodged a State Significant Development Application for a 38-storey mixed-use tower at <a href="https://www.apartments.com.au/new-apartments/4-4a-flinders-street-north-wollongong-nsw-2500">4-4A Flinders Street</a>, around one kilometre north of the <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place precinct</a> currently taking shape on the edge of the CBD.

<img alt="First look: Urban Property Group plans 38-storey North Wollongong tower as Keira Place expansion gathers pace" data-entity-type="file" data-entity-uuid="2b6428f1-6405-4038-8476-897de440e90d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/flinders%20podium.png?VersionId=QLqEvK0OuCEwRC47oHNftrw2B1YqaHF8" />

Designed by Studio.SC, the proposal comprises a 38-storey mixed-use development containing 303 apartments, including 45 affordable housing units, alongside 174 co-living residences. The scheme also includes ground-floor retail space, extensive landscaping and public domain improvements.

Studio.SC noted in the proposal it "outlines a vision for a landmark transit-oriented mixed-use development centred around North Wollongong Station, designed to support the city’s future growth while responding to the NSW Government’s housing and planning reforms."

The architecture firm said the proposal responds to the opportunities and constraints shaping future growth within the 400-metre catchment of the station and represents "a coordinated and future-focused approach to urban intensification, contributing to the long-term evolution of North Wollongong as a connected, walkable and high-density station precinct."

The site occupies a strategic corner bounded by Flinders Street, Station Street, Stafford Street and the Princes Highway, directly opposite North Wollongong Station.

<img alt="First look: Urban Property Group plans 38-storey North Wollongong tower as Keira Place expansion gathers pace" data-entity-type="file" data-entity-uuid="7863adad-1f71-4022-b850-f44b252738fd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/flinders%20podium%20a.png?VersionId=WsU7av0g8_8R2tGHWxgHeFSlhu7yeY1V" />

The proposal follows Urban Property Group's recent submission for the second and final stage of Keira Place, which would deliver a further three buildings comprising 657 homes opposite Beaton Park. It builds on the first stage, which features 150 apartments across two towers and recently commenced construction.

Urban Property Group CEO Patrick Elias said breaking ground on the first stage marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/urban-property-group-unveils-trio-of-towers-for-next-stage-of-new-wollongong-precinct-keira-place">Urban Property Group unveils trio of towers for next stage of new Wollongong precinct, Keira Place</a>

First look: Urban Property Group plans next major Wollongong tower

<a href="https://www.apartments.com.au/developers/arada">Arada Australia</a> has wasted little time expanding its ambitions in Campsie, lodging plans for a second major project in the rapidly transforming town centre just months after unveiling its three-tower One Campsie proposal on Beamish Street.

The UAE-backed developer has now taken aim at one of the suburb’s most strategically positioned sites, filing a State Significant Development Application for a <a href="https://www.apartments.com.au/new-apartments/10-north-parade-campsie-nsw-2194">33-storey mixed-use tower</a> at 10 London Street and 43 North Parade, directly opposite the future Campsie Metro Station. The proposal is currently on public exhibition and represents another significant vote of confidence in Campsie's emergence as one of Sydney’s key transit-oriented growth centres.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the development would deliver 156 apartments above a podium containing retail and commercial space, creating a new residential and commercial gateway to the town centre. The scheme also includes a four-level above-ground parking podium and a dedicated residential amenity floor featuring wellness and recreation facilities. At least 10 per cent of the apartments would be allocated as affordable housing for a period of 10 years.

The proposal occupies a 1,631 sqm site bounded by London Street, North Parade and Dispensary Lane, immediately adjoining the future Metro station precinct and just metres from Beamish Street’s retail and dining strip. According to the Urban Design Report, the project seeks to deliver "a great place that prioritises human-scaled experience and provides spatial improvements to the area."

<img alt="First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans" data-entity-type="file" data-entity-uuid="175a8324-015b-4856-abe3-ce6f23199fa7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium%20campsie.png?VersionId=742UGwXFhFBX4GEl6wX4PYIWREAgn6il" />

Woods Bagot describes the tower as a key marker within Campsie's next phase of growth.

"Located directly opposite the new Campsie Metro Station on North Parade, 10 London Street is a thoughtfully composed 33-storey mixed-use tower that contributes to the ongoing transformation of the town centre," the Architectural Design Report states. The report says the project is intended to provide "high-quality homes within a vibrant, connected urban environment, while helping define Campsie's future skyline."

A strong emphasis has been placed on the public realm. The ground floor incorporates over 500 sqm of retail space and active frontages along both London Street and North Parade, while the podium is wrapped by extensive landscaped planting intended to soften the building's scale and strengthen the pedestrian experience. The development would also widen surrounding footpaths and improve connections between the Metro station and the broader town centre.

Above the podium, residents would have access to more than 1,400 sqm of communal amenities, including a pool, gym and landscaped recreation spaces. A distinctive green-wall treatment extending across four podium levels forms a major architectural feature, helping differentiate the project within the emerging high-density precinct.

The tower's design is closely tied to the broader Campsie Town Centre Master Plan and the arrival of Sydney Metro. The Urban Design Report notes the proposal "directly supports the Campsie Town Centre Master Plan by delivering new homes in a location explicitly identified for growth, improved accessibility, and high-quality urban renewal." It adds that the project contributes to the master plan's vision for a strengthened town centre supported by thousands of new homes around the future Metro station.

<img alt="First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans" data-entity-type="file" data-entity-uuid="bfd17654-253e-489a-bade-6278d63db412" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/base%20campsie.png?VersionId=3roJPMQGs36dazpkhvpvbDDP73Ld.Ica" />

The application follows Arada Australia's recently lodged One Campsie project at 124–142 Beamish Street and 16–18 Ninth Avenue, where the developer is seeking approval for 346 apartments across three towers rising 24, 32 and 39 storeys. Together, the two proposals would cement Arada Australia as one of the most influential developers shaping Campsie's future urban form.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-arada-files-for-trio-of-apartment-towers-in-campsie-town-centre">First Look: Arada Australia files for trio of apartment towers in Campsie town centre</a>

Arada Australia entered the Australian market in 2024 and has rapidly assembled a significant development pipeline across Sydney. Alongside its Campsie holdings, the developer is soon to launch <a href="https://www.apartments.com.au/new-apartments/wattle-green-2-fishburn-crescent-castle-hill-nsw-2154">Wattle Green</a> in Castle Hill, and has expanded its local operations following its acquisition of construction firm Roberts &amp; Co.

Located around 14 kilometres south-west of the Sydney CBD, the site sits at the centre of one of Sydney's fastest-changing middle-ring precincts. The Metro conversion of Campsie Station, combined with Canterbury-Bankstown Council's master planning framework, is driving significant residential intensification around Beamish Street and North Parade, with thousands of new homes expected over coming decades.

Staff reporter

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