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Vacancy rate in Melbourne's Outer East region remains elevated and above 10 percent, according to Colliers International’s latest Metro Office report.
“While the Outer East has always been the third pillar of Melbourne’s metro office market, the precinct has now decoupled completely from the City Fringe and Inner East in terms of tenant activity and vacancy," it said.
The vacancy rate remains elevated at 10.7 per cent, a minor increase from 10.4 per cent six months earlier. 
Long-term vacancy rate is relatively high, Colliers said.
The Outer East has traditionally been a supply driven market, in complete contrast to the City Fringe and Inner East, so the average long term vacancy rate is relatively high, at 9.6 per cent.
The supply cycle continues, although at slightly more subdued levels than previous years. Since 2008, the Outer East has added an average of 25,000 sqm of new supply each year.
"We expect that over the year to March 2018, a further 23,000 sqm of office space will be added – the majority of which (14,000 sqm) is at Caribbean Gardens Business Park in Scoresby,” the report noted.
Demand in the Outer East continues to remain subdued, particularly in the secondary grade market, where upgrades to older stock are generally needed for a deal to occur.
“Face rents in the Outer East have remained steady over the year to March 2017, at an average of $308 per sqm for A Grade space."
Incentives are elevated compared to the remainder of the Melbourne Metro market, at 27 per cent.
"We expect these to remain at these levels for the two year forecast period."
There were $168 million worth of sales in the Outer East in 2016.
In Box Hill, there were two sales totalling $50 million, and both of these sales (826 – 830 Whitehorse Rd and 9 – 11 Prospect St) were to developers, the report said.
South East market sees very limited tenant activity in the last half of 2016 according to Colliers.
“The South East market saw very limited tenant activity through the last half of 2016.
Net absorption was -6,300 sqm, even in a climate where supply increased by 4,000 sqm.
Vacancy in the South East is at record high levels, reaching 13.13 per cent in March 2017, against a long-term average of 6.75 per cent.
Despite the high vacancy, incentives are relatively low, at 21 per cent.
This is more due to the nature of owners in the South East, who are predominately local privates.
Given the low demand environment in the South East, and the continued preference of Melbourne’s metropolitan office tenants to locate in the City Fringe, Inner East and Outer East, a significant yield premium can be found on South East office investments.
Average yields for A Grade stock currently sit at eight per cent, well above the Melbourne metro average of 7.09 per cent,” the report stated.
A 1107 sqm commercial office building at <a href="https://www.realcommercial.com.au/property-offices-vic-clayton-502305650">Level 2, 195 Wellington Road</a>, Clayton (above) has been listed for sale.
Similarly, the CubeOne, a 88 sqm to 1080 sqm office building at <a href="https://www.realcommercial.com.au/property-offices-vic-narre+warren-502158830">55 Victor Crescent</a>, Narre Warren (below) has been listed from $409,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/02/55%20Victor%20Crescent.jpg" alt="">
A 139 sqm office building at <a href="https://www.realcommercial.com.au/property-offices-vic-clayton-502309858">C1/756 Blackburn Road</a>, Clayton (below) was recently sold in April this year.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/02/C1756%20Blackburn%20Road.jpg" alt="">
Similarly a 208 sqm office at <a href="https://www.realcommercial.com.au/property-offices-vic-springvale-502258678">97 Springvale Road</a>, Springvale (below) was recently sold in March this year for $800,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/02/97%20Springvale%20Road.jpg" alt="">
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j.ballantyne1990-6AQqhLzZaK

Melbourne's outer east vacancy rate remains above 10 percent: Colliers

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Over the last 5 years, yields have dropped by 0.42%, from 3.06% in 2012 to 2.64% in 2017, according to Secret Agent’s latest bulletin.
“During this period, median house prices have increased by 38% (9% p.a.), compared to only an 11.8% increase in weekly rents (2.88% p.a.).
“On average, median weekly rents are between $500 and $700 for most suburbs.
“Sale prices tend to fluctuate significantly according to suburb.
“Suburbs with lower median prices tend to have higher yields, as weekly rent is mostly consistent across all regions,” the bulletin stated.
Secret Agent stated that high and low yields are not concentrated in any particular region of inner Melbourne.
“Collingwood, Cremorne and West Melbourne had the highest median yields in 2016/17 at 3.69%, 3.32% and 3.26%, respectively.
“Median prices were well below the $1 million mark.
“Burnley, East Melbourne and Alphington had the lowest median yields at 1.35%, 2.07% and 2.31%, respectively.
“Median prices were all above $1.3million.
“Sale price is strongly, negatively correlated with yield (-47%),” the bulletin commented.
Yield is more dependent on purchase price rather than rental income according to Secret Agent.
“Yields are even lower for larger properties, as sale price increases faster than median rent.
“In 2017, 2, 3 and 4 bedroom homes can expect to yield 2.72%, 2.61% and 2.52%, respectively.
“All three types have had the lowest yields since 2012.
Investors paying high prices for properties are even more reliant on capital growth to increase their returns,” the bulletin stated.
A three bedroom house at <a href="https://www.realestate.com.au/property-house-vic-moonee+ponds-420648018" target="_blank">5A Wilson Street</a>, Moonee Ponds (above) is available for rent from $575 per week.
Similarly a two bedroom apartment at <a href="https://www.realestate.com.au/property-apartment-vic-melbourne-421145570" target="_blank">2502/285 La Trobe Street</a>, Melbourne is available for rent from $530 per week.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/18/2502_285%20La%20Trobe%20Street.jpg" alt="">
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Melbourne rental yields drop while median prices rise

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Renmark has the highest house price median growth in all South Australia localities, according to Investar’s latest report.
The property investment firm says that Renmark’s house median price increased by 29% in the last year.
This is followed by Clare with 17% and Coober Pedy with 16%.
<table style="width: 466px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="95">
Suburb
</td>
<td valign="top" width="54">
Postcode
</td>
<td valign="top" width="70">
Bedrooms
</td>
<td valign="top" width="94">
Current median price
</td>
<td valign="top" width="83">
Median price 1 year ago
</td>
<td valign="top" width="71">
Growth in 1 year
</td>
</tr>
<tr>
<td valign="top" width="95">
Renmark
</td>
<td valign="top" width="54">
5341
</td>
<td valign="top" width="70">
2
</td>
<td valign="top" width="94">
$194,500
</td>
<td valign="top" width="83">
$150,500
</td>
<td valign="top" width="71">
29%
</td>
</tr>
<tr>
<td valign="top" width="95">
Clare
</td>
<td valign="top" width="54">
5453
</td>
<td valign="top" width="70">
4
</td>
<td valign="top" width="94">
$434,000
</td>
<td valign="top" width="83">
$369,000
</td>
<td valign="top" width="71">
17%
</td>
</tr>
<tr>
<td valign="top" width="95">
Cobber Pedy
</td>
<td valign="top" width="54">
5723
</td>
<td valign="top" width="70">
3
</td>
<td valign="top" width="94">
$122,500
</td>
<td valign="top" width="83">
$105,000
</td>
<td valign="top" width="71">
16%
</td>
</tr>
<tr>
<td valign="top" width="95">
Elizabeth Grove
</td>
<td valign="top" width="54">
5112
</td>
<td valign="top" width="70">
3
</td>
<td valign="top" width="94">
$211,500
</td>
<td valign="top" width="83">
$184,500
</td>
<td valign="top" width="71">
14%
</td>
</tr>
<tr>
<td valign="top" width="95">
Mount Gambier
</td>
<td valign="top" width="54">
5290
</td>
<td valign="top" width="70">
2
</td>
<td valign="top" width="94">
$209,500
</td>
<td valign="top" width="83">
$185,000
</td>
<td valign="top" width="71">
13%
</td>
</tr>
</tbody></table>
A four bedroom house at <a href="https://www.realestate.com.au/property-house-sa-clare-123968802" target="_blank">3553 Blyth Road</a>, Clare (above) has been listed for $379,500.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/property-house-sa-clare-125192294" target="_blank">2 Pandappa Drive</a>, Clare (below) has been listed 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/2017/04/27/2%20Pandappa%20Drive.jpg" alt="">
A four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-sa-clare-124098966" target="_blank">3 East View Street</a>, Clare (below) was sold in March this year for $260,000.
<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/2017/04/27/3%20East%20View%20Street.jpg" alt="">
Similarly a four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-sa-clare-124492994" target="_blank">23 Agnes Street</a>, Clare (below) was sold in February this year for $425,000.
<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/2017/04/27/23%20Agnes%20Street.jpg" alt="">
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Clare sits as second fastest median house price mover in South Australia: Investar

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Cross-border buying of residential development sites in Asia-Pacific has been rising over the past decade.
When comparing 2016 to 2007, the number of such acquisitions from overseas investors more than doubled, with volumes hitting nearly more than US$42 billion last year, according to Knight Frank’s latest research. 
Australia figures in the top five residential land investment destinations in Asia-Pacific from 2012 to 2016.
In the past decade, investors from Hong Kong and mainland China contributed 80.2 percent of the total money spent on acquiring overseas residential lands within Asia-Pacific, says the Asia Pacific Residential Review - May 2017 by Knight Frank.
<a href="https://www.propertyobserver.com.au/images/2017/05/22/Chart1.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/22/Chart1.png" alt="">
On the surface, Hong Kong is the front-runner with 74.5 percent of the market share but in fact the most acquisitive companies have roots in the mainland. 
Other notable players include Singapore (7.3 percent), United States (3.2 percent), Japan (2.4 percent), Malaysia (1.7 percent) and United Arab Emirates (1.1 percent).
From 2012 to 2016, the top five overseas residential land investment destinations in Asia-Pacific were ranked in the following order: China, Singapore, Australia, Singapore, Malaysia and Hong Kong. 
Hong Kong and Australia saw investments into their countries increased by about nine times and 26 times respectively during this period, while Malaysia grew from practically zero foreign investment into residential development sites in 2012 to over US$1.4 billion in 2015. Meanwhile, the average investment into Singapore’s housing land from 2012 to 2015 was about US$1.6 billion but it declined to US$671 million in 2016.
“We also note that developers have been acquiring more expensive, less prime and smaller sites. On a CAGR basis, average quantum price and price per sq ft have grown gradually– increasing 4.7 percent per year from US$154 million to US$242 million and 15.9 percent per year from US$47 to US$208 per sq ft,” says the report.
For land size, the acquired sites now have much smaller land area – averaging 32 acres today compared to 65 acres 10 years ago. Likewise, the percentage of acquired sites that are in a CBD area has dropped tremendously – from about a fifth in 2007 to just 6.0 percent in 2016. 
The growth in outbound activity by mainland Chinese developers has been one of the key trends over the past decade, with volumes going from practically zero in 2009 to more than US$2.5 billion in 2016. 
From 2012 to 2016, their favourite destination was Australia (36.5 percent) along with other key markets include Hong Kong (23.7 percent), Malaysia (19.7 percent) and Singapore (15.4 percent). Among a flurry of cooling measures introduced in major Chinese cities along with the capital controls imposed earlier this year, we expect Chinese developers to put more money into Hong Kong and smaller Tier-3 Chinese cities this year. In the first quarter of 2017 alone, Chinese developers invested over US$5.1 billion in the region, with more than US$4.9 billion or 95 percent concentrated in Hong Kong.
In Q1 2017, we continue to see more cross-border investment activities in Asia-Pacific – with close to US$10 billion representing 15.2 percent of the total sales volume. In addition, this is also the highest Q1 figure ever recorded since at least 2007. Three of the top five deals transacted in Hong Kong and were all purchased by Chinese developers; the rest of the top ten deals were in mainland China. 
As many residential markets mature over time, the hunt for the next high-yielding property development opportunities may happen in selected developing countries such as Cambodia, the Philippines and Indonesia. Investors and developers will find these locations attractive given the consistently high economic growth, huge young population, rapid urbanisation rate combined with the rising need for different housing types. Similarly, developers may also choose to invest in selected hot spots in mature economies such as Kyoto in Japan, suburbs near major cities in Australia and the city fringe in Singapore.
<a href="https://www.propertyobserver.com.au/images/2017/05/22/Chart2.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/22/Chart2.png" alt="">
From 2012 to 2016, domestic developers and investors purchased 58.4 percent of residential development land in Australia, while the largest foreign developer group hailed from China (23.4 percent). Last year, Chinese developers and investors purchased $2.4 billion worth of residential development sites in Australia – a 9.4 percent increase from 2015. Boasting an economy record without recession for over 25 years, Australia has also seen a steady population growth partially fulfilled by a healthy immigration rate especially the high net worth individuals.
Read the full Asia-Pacific Residential Review Report May 2017 <a href="https://www.knightfrank.com/research/asia-pacific-residential-review-q1-2017-4658.aspx">here</a>.
 
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Overseas buying of residential development sites in Asia Pacific doubled from 2007-16: Knight Frank

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The apartment market for Inner City Melbourne has started to soften in the first quarter of 2017, according to Herron Todd White’s latest report.
The property valuation firm says that most inner city suburb median unit prices have dropped in the last quarter.
“According to REIV reports, most inner city suburbs have seen drops in median unit prices since last quarter, with Docklands median unit prices falling by 2.3%, Southbank experiencing a 1.8% drop and South Yarra seeing a 0.7% decline.
“There is growing concern regarding the oversupply of inner city apartments which has been well documented by the media in addition to being recognised by the Reserve Bank of Australia who have issued warnings that current high levels of supply may constrain growth in prices and rents in some market segments.
“It is anticipated that the recent implementation of tighter lending policies on both foreign purchasers and investors will cause the apartment market to further soften in addition to increasing settlement risk for developers,” the report stated.
Herron Todd White says that the prestige market in Melbourne is still going strong.
“The current state of the prestige market is still strong.
“The demand for property is outweighing the supply of properties for sale.
“The most in-demand properties are those with large land holdings or properties that can be redeveloped or knocked down without any planning restrictions.
“Other key factors are the continuing low interest rate environment, proximity to the CBD and population growth,” the report advised.
Kew, Balwyn North and Malvern are among the top suburbs for prestige properties according to Herron Todd White.
“The strong prestige market is highlighted in suburbs such as Kew, Balwyn North and Malvern.
“As of March 2017, the median house prices for these suburbs were $2.165 million, $1.925 million and $3.01 million respectively, with a quarterly change of 11%, 11.2% and 24.6%.
<a href="https://www.propertyobserver.com.au/images/2017/05/19/Screen%20Shot%202017-05-19%20at%209.44.52%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/2017/05/19/Screen%20Shot%202017-05-19%20at%209.44.52%20am.jpg" alt="">
“Highlighting the current state of the market, on the 25 February 2017, <a href="https://www.realestate.com.au/sold/property-house-vic-malvern-124595406" target="_blank">17 Spring Road</a>, Malvern (above) sold for $5.075 million.
“The auction lasted 60 seconds with a total of 17 bids. The reserve was $4.3 million.
“The key factors that could result in the prestige market slowing down are an increase in interest rates, a bearish equities market and overall loss of confidence in the market,” the report stated.
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South Yarra joins inner city Melbourne apartment market softening: HTW

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The Gippsland residential market price is strengthening, according to Herron Todd White’s latest May report.
The property valuation firm says that sale has recently been in the $700,000 to $1 million range.
“The Baw Baw, South Gippsland and Cardinia markets are strengthening.
“This includes cities and towns such as Warragul, Drouin, Nyora, Lang Lang and Koo Wee Rup.
“Regions such as Morwell and Heyfield have recently had negative press regarding the forthcoming closure of Hazelwood Power Station and Heyfield Timber Mill.
“It will be interesting to see how the market responds.
“Sale has recently had some higher end sales in the $700,000 to $1 million range with increased buyer interest in prestige properties,” the report stated.
A five bedroom house at <a href="https://www.realestate.com.au/property-house-vic-yarragon+south-125496718" target="_blank">168 Yarragon South Road</a>, Yarragon South (above) has been listed for $799,000.
Similarly a five bedroom house at <a href="https://www.realestate.com.au/property-house-vic-warragul-125366018" target="_blank">28 Fernery Boulevard</a>, Warragul (below) has been listed for $879,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/19/28%20Fernery%20Boulevard.jpg" alt="">
Mildura’s housing market has seen modest growth according to Herron Todd White.
“Despite the housing market being active, very modest growth has been seen in housing prices over the past 18 months.
“Houses and units are selling after relatively short selling periods of usually less than 30 days and Mildura’s local economy appears to have strengthened over this period.
“Despite this, it seems there is not quite enough competition amongst buyers to see any significant capital gains.
“The missing ingredient seems to be population growth.
“The latest statistics indicate that Mildura’s population is growing at just under 1% per annum and while this is enough to maintain momentum, it is not flowing through to any substantial price growth,” the report commented.
Herron Todd White says that lifestyle factors influence the growth of the area.
“Employment and lifestyle factors are the things which will influence population growth outlook.
“On the employment front, there is ongoing optimism in key agricultural industries and this is likely to create opportunities in farm work, transport and logistics, agronomic services and some downstream processing.
“However growth in tourism, retail or mining would be needed to see the growth in jobs required to bring significant numbers of families to the region.
“What is clear is that Mildura has enough size and economic diversity to weather any economic downturns reasonably well,” the report advised.
Older residents are beginning to move to Mildura and that is expected to rise Herron Todd White says.
“The migration of older people from surrounding towns and regions choosing to retire to Mildura is expected to continue.
“For this sector, it is lifestyle and availability of medical services along with affordability of housing that will influence their choice.
“Mildura appears to stack up well in this regard,” the report advised.
A three bedroom townhouse at <a href="https://www.realestate.com.au/sold/property-townhouse-vic-mildura-125213478" target="_blank">3 Lakeview Court</a>, Mildura (below) was recently sold for $230,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/19/3%20Lakeview%20Court.jpg" alt="">
Similarly a three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-mildura-118748831" target="_blank">906 Fifteenth Street</a>, Mildura (below) was recently sold for $205,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/19/906%20Fifteenth%20Street.jpg" alt="">
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Gippsland and Mildura residential market grows stronger: HTW

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Lateral Properties have finalised the construction of its residential development Teviot Downs, an acreage estate in Greenbank, Queensland.
Built over a decade, this last release completes the 1200 lot community. 
Lateral Properties bought the partially developed 900ha Greenbank site in 2002.
It started selling blocks in July 2003. The estate has been sold over 34 stages, with the last remaining stage selling now.  
The final stage features a total of 47 lots ranging in size from 2,500sqm to 7,000sqm which are selling from $285,000 to $500,000. Over 30 per cent of the stage has already been sold.
“This is the last chance you will get to build a new home in one of Australia’s great acreage estates only 40 minutes to the Brisbane CBD,” commented Clinton Trezise, associate director of residential at Colliers International.
“The introduction of the SEQ Regional Plan in 2005 restricted the further release of acreage homesites, so these types of communities close to Brisbane will soon be a thing of the past,” he said.
Land values at Teviot Downs have recorded strong growth with an average of 10 per cent annual price growth over the last 10 years, due to the scarcity of acreage estates within the greater Brisbane region. 
“In recent years 10 per cent of the sales have been to existing residents of Teviot Downs who are upgrading their homes and re-purchasing in the estate. This is a huge testament to the quality of the development and the friendly established community it is,” Trezise added.
According to Trezise, the majority of buyers in the estate have been 3rd or 4th homeowner occupiers that live within the 10km radius, and are moving from densely populated, growing urban centres for a bigger house and more open space.
In 2005, the project was awarded Queensland’s UDIA Award of Excellence for the Best Parkland Residential Estate.
He noted due to the scarcity of acreage land, this award no longer exists, leaving Teviot Downs as the final recipient.
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Teviot Downs development final release

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The Southern Highlands market continues to show strong price growth, according to Herron Todd White’s latest April report.
The property valuation firm says that the average price across the Wingecarribee Shire increased by 8% in the four months to date to $879,000.
“Of note is the brisk rate of sale in the up to $1.5 million sector, most notably located close to the townships of Bowral, Moss Vale and Mittagong,” the report stated.
Herron Todd White says that the market continues to benefit from the ripple effect predominantly by greater Sydney buyers looking for affordability and lifestyle.
“New land releases in the region have seen an influx of purchasers ranging from first home owners to executive home buyers at price points from $300,000 to $800,000 and land sizes from 450 to 8,000 square metres.
"What is also evident with the influx of new land releases is the pressure to upgrade transport infrastructure in the region, with calls for additional direct trains to Central Station, road upgrades and the larger infrastructure projects such as the Sydney to Melbourne Fast Train gaining momentum.
"Major projects to accommodate the growing area is occurring," the report commented.
Wilton Junction has been marked as a priority growth area with more residential development expected Herron Todd White says.
“With respect to accommodating additional residents in the region, the recent announcement by the NSW Department of Planning that Wilton Junction has been designated as a priority growth area has brought the reality of the new township to accommodate up to 16,500 dwellings across the 4,175 hectare site located off the M5 East Freeway a step closer.
"Other areas earmarked for residential development include Tahmoor and Appin.
"Closer in to the existing townships of Mittagong, Bowral and Moss Vale it is anticipated there will be limited releases of land predominantly restricted to resubdivision of appropriately zoned larger lots,” the report remarked.
"Being one of the regions to receive the NBN early has seen the emergence of commercial office developments in the past 12 months," the report stated.
The NBN is also helping the area with commercial office developments expected over the coming months.
“Being one of the regions in New South Wales to get early access to the NBN, there has been an emergence of commercial serviced office developments over the past 12 months, allowing for professional services personnel to have the flexibility of working locally and efficiently, an attractive alternative to the daily Sydney commute,” the report stated.
Herron Todd White says that there has been emerging chatter about the prospect of lenders further tightening lending criteria and increases in interest rates.
“This undoubtedly will have a cooling effect on the rate of sale in the marketplace, however we don’t foresee any major market adjustments in this case, with the exception of the rural and lifestyle acreage properties, predominantly located on the outskirts of the major towns,” the report observed.
A three bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-bundanoon-125468790" target="_blank">48 Erith Street</a>, Bundanoon (above) has been listed with a price guide of between $665,000 to $730,000.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-burradoo-125238538" target="_blank">8 Holly Road</a>, Burradoo (below) has been listed with a price guide of between $1.45 million to $1.5 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/2017/05/15/8%20Holly%20Road.jpg" alt="">
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-mittagong-123923866" target="_blank">3 Langley Avenue</a>, Mittagong (below) was recently sold for $660,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/15/3%20Langley%20Avenue.jpg" alt="">
Similarly a four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-berrima-125329010" target="_blank">19 Oldbury Street</a>, Berrima (below) was recently sold for $1.4 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/2017/05/15/19%20Oldbury%20Street.jpg" alt="">
The Southern Highlands residential property market was running hot, according to Herron Todd White’s December report.
The property valuation firm says that strong price increases and quick selling periods have been evident across the entire region.
The main driver is the trend of second and third home buyers and retirees relocating for a tree change from Sydney and for the affordability.
"The townships of Moss Vale, Bowral and Mittagong have been the stand out performers."
It noted fully renovated or new properties with nothing left to spend are sought after.
The strongest activity is under $1.5 million.
A three bedroom unit at <a href="https://www.realestate.com.au/property-unit-nsw-bowral-125033606" target="_blank">2/41 Shepherd Street</a>, Bowral (above) has been listed for between $900,000 to $990,000.
Similarly a three bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-moss+vale-124981530" target="_blank">602 Argyle Street</a>, Moss Vale (below) has been listed with a price guide of $899,000.
<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/2017/04/20/602%20Argyle%20Street.jpg" alt="">
HTW has noted that the fringe suburbs of Southern Highlands is also beginning to see strong activity
"There has been strong activity from first home buyers seeking affordable housing options across the fringe suburbs in the Southern Highlands, essentially the villages such as Robertson, Bundanoon, Colo Vale, Hill Top and Tahmoor that are removed from the three major towns of Bowral, Mittagong and Moss Vale."
Properties still sell under $700,000 in these perimeter suburbs.
"If interest rates were to dramatically rise, then pricing levels will decline.
"If interest rates remain at low levels, then we anticipate that pricing levels will plateau.
"There are similar trends evident in the Tablelands, with good land sales and new home construction activity in the new and modern residential estates on the fringe of Goulburn including the Belmore Estate, Merino Country Estate and the Mistful Park Estate," the report advised.
New land releases are trading for $200,000 to $250,000, with house and land packages ranging from $500,000 to $600,000.
Likewise some of the villages between Sutton Forest and Goulburn, such as Marulan have seen an uptick in first home owner activity, with new land releases being quickly absorbed by the market in the $160,000 to $190,000 range for 1,000 square metre blocks.
The Crookwell village is also seeing good buyer activity and price growth.
“We see strong buyer activity from first home buyers, second and third home buyers and retirees.
"We are also seeing strong interest from Sydney investors in Goulburn."
It noted part of the attraction here aside from lower entry price is ease of access to the Sydney-Canberra freeway.
Many buyers will commute to Goulburn, Canberra or back up to Moss Vale and Bowral, the report stated.
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Southern Highlands residential market growth remains strong: HTW

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An annual fundraising event held by The St Vincent de Paul Society (Vinnies), business leaders are invited to sign-up to lend their voices and their networks in support of raising $700,000 for the Vinnies Soup Vans and other volunteer services that help to alleviate poverty and prevent homelessness.
The Sleepout will be held overnight at 6:00pm Thursday 22nd June until 7:00am Friday 23rd June at the University of Melbourne’s Parkville Campus inside the South Lawn Underground Carpark.
Participants will sleep on a piece of cardboard for the night, given a modest dinner by the Vinnies Soup Van volunteers, and invited to speak face-to-face with people experiencing poverty and homelessness in a series of conversation corners.
Eight members of PhilipWebb’s Management Team including General Manager of Sales Anthony Webb will be participating in the event.
“We pride ourselves on the strong ties we have with our local community.
Our staff have recently volunteered for the Vinnies Soup Van initiative under the guidance of the generous volunteers at The St Vincent de Paul Society.
This experience was an extremely enriching one for all staff involved. We are proud and excited to continue this association by joining the 2017 CEO Sleepout,” he said.
“It is a sad reality that over 725,000 Victorians are living below the poverty line with many descending into crisis and sleeping rough on the streets.
Every little bit helps and we would love the public’s support to reach our goal”.
Contributions can be made towards PhilipWebb’s target at the following link: <a href="https://www.ceosleepout.org.au/team/philipwebb-real-estate/" target="_blank">https://www.ceosleepout.org.au/team/philipwebb-real-estate/</a>
Alternatively, those wishing to participate either individually or as part of a senior management team can register at <a href="https://www.ceosleepout.org.au" target="_blank">www.ceosleepout.org.au</a>
PhilipWebb Real Estate has been a market leader in Melbourne’s eastern suburbs for more than 45 years.
With Philip Webb still playing a hands-on role in his family-owned business, it is now one of Victoria’s largest non-franchise firms, specialising in residential and commercial sales, auctioneering, property management and investment.
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Agency management team sleeps rough for charity

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Two adjoining, strata-titled, retail properties at Port Melbourne are to be auctioned off on June 9 through Teska Carson.
Located at 350-352 Bay Street, the two single-level, self-contained shops are between Spring and Bridge streets. The site is zoned Commercial 1.
The 58 sqm, 350 Bay Street, property is suitable for a variety of uses including office accommodation and food/hospitality subject to council approval.
The property was previously owner-occupied as an art gallery.
The 352 Bay Street property is also 58 sqm and is currently leased to hair salon operator Lovalola. 
According to marketing agents, Teska Carson’s Anthony Choi and Michael Ludski, the property will be sold subject to a monthly lease over 352 Bay Street at $2,127 per calendar month plus outgoings &amp; GST, while 350 Bay Street is vacant.
Choi said recent comparable lease transactions nearby point to retail rental rates of circa $500 to $550 per sqm.
He said the entry-level acquisition opportunity offered the buyer the flexibility to be an owner-occupier or invest within the tightly held Bay Street retail precinct.
"The immediate area is experiencing continuous growth due to a number of high profile residential/mixed-use developments within close proximity, and is an excellent metric for rental and capital growth in years to come,’’ Choi said.
He said the property is in one of Melbourne’s sought after bayside locations and is well serviced by public transport.
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Entry-level retail investment properties in Port Melbourne up for auction

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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