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There are highs and lows in any industry – especially property. No sooner do things go up than they come down.
Take the port city of Gladstone in Queensland, for instance. Elders Real Estate’s property manager, Nikki Nation, said increasing industrial activity over the past few years had caused rentals to rise sharply - but they are now dropping back sharply.
"It all depends on the property, of course, but we are now offering brand new four-bedroom houses for $50-$100 a week less than previously, with a property that was $550 now $500; a self-contained townhouse that was $850 now $550 a week."
Gladstone, with a population of around 32,000, is 550 kilometres north of Brisbane. Settled in 1853 it is the state’s largest commodity port. The local commerce is primarily industrial-based and includes large-scale alumina refineries, aluminium smelting, heavy chemicals and shale oil. And therein lies the reason for the rental declines.
An oversupply of rental properties was caused when a large dredging company’s contract ended recently and it quit the town. This resulted in the company handing back 200 properties formerly used by its fly-in-fly-out workforce, flooding the market. Elders had exposure to 75 of these properties. "Of course this has driven rents down," Nation said. "However, we are still managing to rent out 50-70 properties each month."
Resource companies – and their FIFO workers - are still moving into the district with a LNG project just getting off the ground at nearby Curtis Island, the Wiggins Island coal export terminal development and the establishment of a shale oil plant being explored. Workers at these projects will still require housing.
"The drop in rents has affected us,’’ Ms Nation said. ‘’But lots of families are coming here.’’
‘’There are still healthy returns, just probably not as high. I’m told that lots of investors are getting 6% to 8% returns.’’
Elders is renting <a target="_blank" href="https://www.realestate.com.au/property-house-qld-south+gladstone-410798767">4/12 Leonard Street South Gladstone</a> (pictured below) for $450 per week. The house has three bedrooms, two bathrooms and a double garage. The townhouse is one of seven in the complex.
{yoogallery src=[images/stories/2013/10/22/glad]}
 
Having developed into a prosperous regional centre for business and government services, Toowoomba is attractive for renters working in its broad-based economy.
The south-east Queensland city is 127 kilometres west of Brisbane in the Darling Downs with an estimated district population of 157,023. Settled in the 1840s it is Australia's second most populous inland city and the most populous non-capital inland city, <a target="_blank" href="https://www.abs.gov.au/AUSSTATS/abs@.nsf/DetailsPage/3218.02009-10?OpenDocument">according to ABS statistics</a>.
Fastrack Property Managers’ Grant Beveridge said present rental vacancy rates were only 1%-1.5% - much lower than the usual 3% - with demand for property strong all year. ‘’This is a region that lives with its own hub. So, for investors, we are not greatly affected by what happens in the rest of the country.’’
With a strong industrial base, such as mining in the Surat Basin two hours to the west, and the nearby Acland coal mine, workers are being drawn from the Toowoomba region and strengthening demand for rentals. As a further sign of confidence, the long established Wagner concrete company is planning to build a $100 million airport at nearby Charlton next year to import and export its products.
Beveridge said this was expected to provide 2000 jobs in the initial stages - and obviously boost demand for rental accommodation. The airport is expected to generate up to $318 million yearly in economic output.
"All these projects are making it good to invest in the west side of town. If you haven’t invested in Glenvale, Harristown or Kearneys Springs in the next six-to-12 months, you might be too late," Beveridge said. "Prices will skyrocket as banks free up lending."
The establishment of a $300 million shopping centre in the centre of town, and adventurous plans to combine it with two existing shopping centres - Garden Town and Grand Centre, by the end of next year, will also be a catalyst for higher rental prices.
Beveridge said renters were typically chasing four bedroom, two bathroom houses with two car spaces and paying $380-$420 per week. He said increasing prices meant landlords were achieving higher yields, often as high as 5.5%-6%.
"These properties make up 65%-70% of our stock as we are a management agency only – we don’t sell property," he said.
"Rentals depend on location and there are some good yields being achieved at Kearneys Springs and Harristown. Investors paying in the 'high two’s to low three’s' for property there were receiving $330-$340 a week in rent," he said.
Fastrack is renting <a target="_blank" href="https://www.realestate.com.au/property-house-qld-glenvale-411530219">7 Candlebark Court, Glenvale</a> (pictured below) from November 6, for $320 per week. The three bedroom brick house has one bathroom and a single car space.
<img width="470" height="248" alt="glenvale-opct-22-two" src="/images/stories/2013/10/22/glenvale-opct-22-two.jpg">
 
Rockhampton, never a boom-or-bust town, is having a 'bit of a hiccup' now as mining slows in nearby regional cities Gladstone and Mackay and reduces demand for local rentals. As a result, vacancy rates in ‘Rocky’ are the highest they’ve been for a while at 3.6%, instead of their customary 1%-1.5%.
Rebecca Trott, property department manager at Pat O’Driscoll Real Estate, said: "During the 18 months that our vacancy rate was under 1% we saw an increase in rent of around $20 per week to $40 per week. It’s now stabilised with less demand and increased vacancy rates."
But that’s now changed with a lot of people who had moved into the area over the past few years to work in the mines now moving onto green pastures. "Things are a bit different here now," she said, with people moving out – and not in – to the town, which has fewer FIFO (fly in fly out) workers than, say Gladstone, which is 100 kilometres away.
Rockhampton, settled in 1858, is 640 kilometres north of Brisbane on the Fitzroy River. It has a population of around 70,000 and is about a 30-minute drive from the coast.
All is not doom and gloom in the town which prides itself on its sunny climate. "I can certainly see it picking up because Rockhampton has a broad range of industries and usually rises steadily," Trott said.
"Construction work at the public hospital will create more employment opportunities in the near future, as well as many high-rise developments currently under construction and new estates being established in the Rockhampton area."
The most popular rental properties are units or townhouses, with the average weekly rent for units at $280-$300 a week. Average rental prices, which include houses, is around $350 a week. Good news for prospective tenants is that the high vacancy rates have ensured there is "plenty of everything" available at the moment.
The usual tenants are families or professional couples who have arranged employment before arriving in the town.
"Yes there’s been a bit of a hiccup at the moment but things will improve as Rockhampton is a great place to live."
Pat O’Driscoll Real Estate is seeking tenants for <a target="_blank" href="https://www.realestate.com.au/property-house-qld-the+range-408520895">10 Bolton Street, The Range</a> (pictured below), at $320 per week. The high-set weatherboard has two bedrooms, sleep-out, bathroom and single carport. There’s an updated kitchen, polished floors, fans throughout, deck at the front, plus a carport at the rear. Trees behind the front fence add privacy.
<img width="470" height="353" alt="rockhampton_oct_22_one" src="/images/stories/2013/10/22/rockhampton_oct_22_one.jpg">
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staylor-63KgDrKwoY

What's happening in Gladstone, Rockhampton and Toowoomba?

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The Real Estate Institute of Australia (REIA) is concerned at the way the National Occupational Licensing Authority (NOLA) is spending taxpayer funds.
The authority is conducting a round of interstate visits which appear to be both unnecessary and beyond the role it should have, REIA president Peter Bushby said.
“The process for national licensing is at the stage where the state and territory treasurers will be deciding on the matter later this year. Consultation at the jurisdictional level, which includes input from NOLA, has ended,’’ he said.
‘’NOLA’s involvement at this stage is totally unnecessary and would appear to amount to no more than lobbying - which is inappropriate.
‘’NOLA should not be a ‘player’ in the field ‘championing’ particular outcomes.”
The authority was set up in 2008 as the independent statutory authority responsible for establishing a licensing system for specific occupations across Australia. It works with state and federal governments, stakeholders, industry associations and regulators to define and implement a national occupational licensing system so licence holders can work anywhere in Australia.
“These actions by NOLA come on top of it stating in a media interview during the election campaign that the incoming coalition government would not change Labor’s implementation of national licensing for real estate agents,’’ Bushby said.
“Again, it was inappropriate for an administering agency to speculate on what an incoming government may or may not do. It was even more inappropriate that a public servant should be making such comments whilst (the government was) in caretaker mode.
“NOLA’s actions are eroding support for national licensing and, more generally, for initiatives developed through the COAG Council process. They should be sticking to what they were set up to do and not wasting some of their 2013/2014 budget of $8.4m on inappropriate travel and activities,” Bushby said.
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Concerns over national licensing body NOLA's use of funds

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Following our <a target="_blank" href="https://www.propertyobserver.com.au/victoria/docklands-finding-its-feet-after-a-difficult-conception/2013101065628">suburb overview of Docklands</a>, we continue our series on the suburb with the local real estate agents perspective.
At last, say the real estate agents, the emerging Docklands has rejuvenated itself and started to blossom, to achieve its potential.
No more a soulless ghost town, it is now an attractive – and well located – haven where high-rise residential towers and rows of townhouses front busy streetscapes and wide promenades. They have enviable views and amenity.
The waterfront with its marinas and luxury craft add their own atmosphere. Things are buzzing.
There’s a general consensus that, as building works settle down – and new residents settle in – Docklands will consolidate and provide the kind of lifestyle its residents bought in for in the first place.
Places Victoria’s expectations are that, by 2025, Docklands will be home to 20,000 residents and 60,000 workers, with an area almost double the size of the Melbourne central business district.
And there’s no better gauge of this than recent property transactions.  Long-term agent Glen Lucas, of Lucas Real Estate, with offices at Yarra’s Edge and NewQuay, said business was "pretty good".
"The market has stabilised over the past three months after a tough 18 months. There is lots of interest now and we are selling more property – and the best thing is that 75% of buyers are owner-occupiers.
"It’s a good news storey: people do want to live here despite some negative perceptions in the past. Everyone seemed to have an opinion about Docklands based on negative media reports, such as about the broken Observation wheel. Everyone seemed to want to have a crack.
"Well, I lived at Docklands for six years and I found it a great place in which to live."
Some of the offerings are spectacular, such as the penthouse at 90 Lorimer Street which Lucas sold on New Year’s Eve for $3.5 million – again to an owner-occupier. "We were all pretty excited about that," admitted the agent. "And, from what I hear, the renovations are absolutely spectacular."
Lucas said average Docklands sales were around the $750,000 mark with average rents around $550 a week. His firm manages 1100 rentals.
<a target="_blank" href="https://www.sellmycastle.com.au/agent-profiles/glenn-donnelly/2939/">Glenn Donnelly</a>, of City Residential Real Estate in Lorimer Street, echoed the owner-occupier theme. "Of our past 10 sales eight were to owner-occupiers. Properties here have started to generate a lot more interest and this year we are charging along in both sales and rentals."
Donnelly has lived at Docklands for the past six years and worked there for 12. "It is a fabulous area: you can walk everywhere - I don’t tend to drive a lot – and there are restaurants and bike paths and, of course, activities on the water.
"I have seen enormous changes: no one wanted to live here in the early days because there were no amenities; there were a lot of negatives. Now it’s totally different. Rents and sales are up and there’s been enormous growth, yet we are still five years away from our peak.
"What we really need is a school, though, and I know one’s being planned. That would make the suburb complete."
Donnelly said sales averaged $680,000-$700,000 for two-bedroom townhouses with two bathrooms, two car spaces and views, with similar properties renting for around $580 a week. "The rent market is strong and nothing stays vacant for long."
City Residential Real Estate manages 370 rentals.
John Sdregas, of JMRE North Melbourne, but with a Docklands focus, says he foresaw the growth potential for real estate 10 years ago as residents of congested inner suburbs east and north of Melbourne moved further west to get more ‘bang for their buck’.
They found they could buy whole houses in well-placed Yarraville or Seddon for what they were expected to pay for small, two bedroom apartments in, say, Richmond, Fitzroy or North Melbourne. This pointed to a realignment of the centre of Melbourne with Docklands as its focal point.
"I’ve only ever seen steady growth here – about 7% in the past two years. And, also, demand for rentals is strong at about $500 a week for the average two bedroom, one bathroom, one car park townhouse. The average sale price for those properties would be $500,000-$550,000."
Ddregas said an early imbalance in supply and demand causing to a glut of apartments - and the seemingly never-ending construction works - had led to popular perceptions of Docklands in its formative years as being deserted.  This has changed: he now believes that with all the big companies establishing themselves, and others moving in, the notional centre of Melbourne is moving west and assuring the suburb’s future.
Lachal Property Group’s Paul Lachal, who specialises in project management and advising investors and developers on marketing and sales, often at Docklands, said nowhere in Australia had there been such development in such a short timeframe, with 10 large buildings erected – including the NAB and ANZ banking headquarters.
"This is the fastest growth area in the country," Lachal said. "A lot of people used to say it is desolate but, if they had seen what was here 10 years ago and what is here now, and if they see the major new buildings that have sprung up, they would be amazed."
He said these ‘house-hold names’ were anchor points adding stability and traction to Docklands and attracting others to follow their lead. They are the solid foundations on which residential builders can build a new suburb.
Lachal said the fact Docklands was not laid out on the Hoddle Grid – as is the Melbourne CBD – could be blamed for making it harder to get around. It’s just a learning process, he said.
An example of the current Docklands offerings is this apartment at 1122/60 Siddeley Street, listed for $490,000 through <a target="_blank" href="https://www.cityresidential.com.au/listings_residential_id/15666/property_details">City Residential Real Estate</a>.
{yoogallery src=[images/stories/2013/10/17/dock]}
<a href="https://www.cityresidential.com.au/directDisplay/propPhotoViewer?imageNo=1&amp;listings_rental_id=12349&amp;width=960&amp;height=790"></a>
<a href="https://www.cityresidential.com.au/directDisplay/propPhotoViewer?imageNo=2&amp;listings_rental_id=12349&amp;width=960&amp;height=790"></a><a href="https://www.cityresidential.com.au/directDisplay/propPhotoViewer?imageNo=3&amp;listings_rental_id=12349&amp;width=960&amp;height=790"></a>
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At last, Docklands is starting to blossom say local real estate agents

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Joint venture developers Frasers Property Australia and Sekisui House Australia have fast-tracked the final two residential stages at Central Park and will soon release another 500 apartments to the market to keep pace with demand.
Fraser’s CEO Guy Pahor said the joint venture was constructing 1,400 apartments as part of the first residential stage of Central Park. He said the success of apartment sales had prompted an acceleration of the next residential stages within the 5.8 hectare mixed-use precinct.
“Frasers, and our joint venture partners, Sekisui House Australia, are delivering on the vision of Central Park and rapidly transforming this previously inaccessible part of Sydney into a vibrant mixed-use development and stitching it back to the surrounding communities,” he said.
The concept designs of Smart Design Studio and Francis-Jones Morehen-Thorp (fjmt) were selected following a design competition for the next two residential stages within Central Park. This was required under the 2009 concept plan approval for Central Park to ensure continuing design excellence at the precinct. Architects so far have been Foster + Partners, Ateliers Jean Nouvel and Johnson Pilton Walker.
A design review panel was formed to oversee the submissions, with members including Frasers’ Pahor, Lucy Turnbull, an independent member of the Sydney Metropolitan Development Authority, and Chris Johnson, chief executive of the Urban Taskforce.
The panel nominated the architects and a preferred concept scheme for each site. This was then submitted to the NSW Department of Planning &amp; Infrastructure for ratification.
The Smart-designed building will be the first residential building to be developed on the Abercrombie Street edge of Central Park and will include 180 apartments.
William Smart, of Smart Design Studio, said:  “Our design intent was to create a link between Chippendale and the southern edge of the Sydney CBD. We wanted to create a building that offered privacy to its occupants and beauty to passersby.
‘’Lessons borrowed from nature inform the thinking on the façade. The rippled surface of water inspired the exploration of a lenticular façade, and louvres, used in an artful way, provide the privacy required and control the light, creating movement across the façade and an ever changing character.”
The site of the fjmt-designed building is bordered by O’Connor and Wellington streets on the Chippendale edge of the Central Park precinct.  This building, which is not part of the joint venture with Sekisui, will be independently developed by Frasers and will include 320 apartments in a long, sinuous building along Wellington Street.
Richard Francis-Jones, design director of fjmt, said: “Our design for this important part of Central Park introduces a curvilinear and fluid architecture. It will create additional landscaped parkland and apartments opening out to views and natural light. These will be wonderful places to live.”
More than 1200 apartments have been sold and about 400 apartments settled, with a further 1,000 settlements due later this year and into 2014, Parhor said.
“Next year will see development accelerating further – not only on the residential front but also on other phases of the development – with commencement of the commercial precinct, student housing and the refurbishment of historic Kensington Street - all scheduled to start next year.”
Recently, Frasers invited the local community, as well as community groups, UTS and University of Notre Dame to join William Smart on a site tour and to discuss his proposed design.
The local community will also be asked to comment on fjmt’s evolving design on the Wellington Street building.
World-class architecture, design, landscape and urban planning are core principles of Frasers’ and Sekisui House’s vision for Central Park.
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Central Park stages accelerated to keep up with demand

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The Queensland Government will boost the role of the Property and Infrastructure Cabinet Committee (PICC) to make the infrastructure decisions that drive the state’s economic growth.  

The Minister for State Development, Infrastructure and Planning, Jeff Seeney, said the PICC had already proved its worth in overseeing the successful implementation of the planning reform commitments of the Newman Government. 

He said the committee would also be charged by the premier to reform how the state’s infrastructure is prioritised and delivered across the whole of government.

“The premier has made it plain that we must have a more disciplined approach to infrastructure decisions, get better value from the state’s infrastructure assets and get the private sector more involved in infrastructure provision," Seeney said.

“This is about contestability across all areas of government so the right infrastructure, which will deliver the best outcomes, is progressed.”

Seeney said the committee would be guided by the government’s blueprint for infrastructure reform: Infrastructure for Economic Development, released today. 

“In developing Infrastructure for Economic Development we worked closely with Infrastructure Queensland, established by us, with public and private sector leaders, to advise government on infrastructure issues,” he said.

“Infrastructure Queensland strongly supports these reforms.

“Infrastructure for Economic Development also outlines the government’s commitment to develop a 10 year state infrastructure plan, and for government agencies to provide greater transparency in how state assets are managed through total asset management plans.  

“Infrastructure for Economic Development forms an integral component of the Governing for Growth framework which sets out actions to foster greater state economic growth.”

The committee members are the Deputy Premier, the Treasurer and Minister for Trade Tim Nicholls, the Minister for Transport and Main Roads Scott Emerson, the Minister for Environment and Heritage Protection Andrew Powell, the Minister for Local Government, Community Recovery and Resilience David Crisafulli, the Minister for Housing and Public Works Tim Mander, the Minister for Energy and Water Supply Mark McArdle and the Assistant Minister for Planning Reform Rob Molhoek.

The document is at: <a href="https://www.dsdip.qld.gov.au/ifed">www.dsdip.qld.gov.au/ifed</a>

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Government to maximise infrastructure life and spend

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WA Transport Minister Troy Buswell has urged Kalgoorlie-Boulder residents to have their say on the PortLink project. He is encouraging them to attend an information day on the planning options for the project this Saturday, October 19.
The PortLink concept ultimately links the towns of Port Hedland, Kalgoorlie-Boulder, Esperance and Geraldton, and has the potential, Buswell says, to build a stronger and more flexible transport network.
The project will include a heavy vehicle bypass road, a freight rail bypass around the town centre and a potential intermodal terminal in Kalgoorlie.
“These projects have the potential to significantly reduce the number of heavy freight vehicles on local roads as well as reduce rail traffic through Kalgoorlie’s city centre,” Buswell said.
“This will result in improved road and rail safety and provide better amenity for the Kalgoorlie-Boulder community.
“There are three options for each of the road, rail and intermodal terminal projects and I encourage locals to have a say in what would work best for their community.”
The Department of Transport will host the information session at Markets Arcade, Hannan Street, Kalgoorlie, from 10am-3pm.
Regional Development Minister Brendon Grylls said PortLink could open up Western Australia’s resource-rich regions to better economic development opportunities.
“One of the objectives of the PortLink project is to test the feasibility of a regional alternative to Perth as a major distribution point for interstate freight,” he said.
Planning studies for Phase 1 of PortLink are being funded by the State Government’s Royalties for Regions program ($5 million) and the Commonwealth Nation Building program ($2 million).
The public consultation period runs until November 1.
Information and community comment forms are available at: <a title="Department of Transport website" target="_blank" href="https://www.transport.wa.gov.au/PortLink">https://www.transport.wa.gov.au/PortLink</a>
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WA PortLink project enters public consultation phase

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A major development site on Mill Point Road could be developed into one of South Perth’s landmark buildings, according to selling agent Knight Frank.
The high profile, 2266 square metre site on the corner of Harper Terrace is metres from the Swan River foreshore and the Kwinana freeway on/off ramp.
Knight Frank director Tony Delich said the site had the potential to be developed into an imposing mixed use or office building with spectacular 360 degree views.
The site is within the South Perth station precinct plan and the council’s Special Design Area which could allow for a potential height density bonus above 12 storeys.
Delich said the City of South Perth was encouraging intensive development of the area to take advantage of its location, as well as good public transport options.
“This entire area will be subject to significant rejuvenation and redevelopment over the next few years with the property directly opposite also being redeveloped,” Delich said.
“With expansive frontage to Mill Point Road and Harper Terrace this site is one of the largest in the area and provides a ‘gateway’ corner location for a spectacular new development.
“Knight Frank recently sold a similar sized site in Richardson Street, South Perth for $4,300 per square metre with the same development options.
“It is currently zoned within the Mends Street sub precinct that allows for office and mixed-use development, but, ultimately, it could serve any number of potential uses.
Delich said a 12 storey building on the site could provide a mix of retail, residential and commercial uses, with the majority of the building offering stunning river views in all directions.
It is currently occupied by a block of 23 two-bedroom apartments that would provide some holding income while development plans are being approved.
Delich said the site was passed by tens of thousands of vehicles each day, ensuring exceptional profile and exposure, as well as excellent accessibility.
The property at 96 Mill Point Road will be sold by Offers-to-Purchase closing on Wednesday, November 20. 


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South Perth site provides huge development potential

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The federal government’s plan to develop a one-stop shop to streamline environmental approvals has pleased developers.  
“It is good news that (federal Environment Minister) Greg Hunt has announced a one-stop-shop approach to rationalising the complex system of environmental approvals across Australia,” said Urban Taskforce CEO Chris Johnson. ‘’But it will need all the states to join in.’’  
The Urban Taskforce is a property development industry group of developers and equity financiers.  
Johnson said developments in the past had been held up ‘’for months and even years’’ as state and federal government environmental and planning departments had separate approval processes.  
“We have had projects in Sydney that had state approval but were then ‘called in’ by the Commonwealth, effectively overriding the state approvals. Clearly, this gives no confidence to allow a project to proceed.’’  
Johnson said the Urban Taskforce urged all states and territories to sign bilateral agreements with the federal government so that environmental approvals can be streamlined.  
“We also call on (Hunt) to review the extent of the criteria used to trigger approvals. Earlier this year the Commonwealth placed an approved development in Parramatta at risk because of heritage views from old Government House being used to ‘call in’ the project.  
‘’This demonstrates that some environmental criteria can be misused to the detriment of a state-approved project.’’
 
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Developers urge states to sign on to federal plans for environmental approval

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This article is the first in our series taking an in-depth look at the Melbourne suburb of <a href="/news">Fitzroy</a>.
The real estate market in Fitzroy is having a good time of it, according to long time agent Andrew Bennison, of Bennison Parker. "I’ve been here 13 years and this is probably the best 12 months I can remember," he said.
"Interest rates are low and there’s an expectation they will fall once again before Christmas."
Bennison said the area had many positives: "People are looking for a better lifestyle here with the vibrant cafe culture, the handy proximity to the city, and good public transport.’’
Those moving in are often the younger set and also the empty nesters. Bennison said the "top end" of Fitzroy – with its substantial modern properties and older, but modernised, terraces – attracted the older demographic. Prices could be as high as $2 million.
Renters, usually in the younger demographic, pay around $550 to $600 a week for two-bedroom apartments or terraces. Yields are around 3.5%.
Nelson Alexander Fitzroy’s Janine Ballantyne agreed the market was strong. "We are doing pretty well," she said, "especially with single fronted terraces."
The average price for these popular designs, built in the 1880s and 1890s, is $850,000-$1 million for those on 150 square metres or more.
Ballantyne’s comments were borne out during the auction of <a href="https://www.realestate.com.au/property-house-vic-fitzroy+north-114938795" target="_blank">80 Best Street, Fitzroy North</a> last Saturday. The sale price of $988,000 trounced pre-auction estimates of $750,000 to $825,000 – no doubt leaving the owners and agents delighted.
{yoogallery src=[images/stories/2013/10/21/fitz2]}
The single fronted brick terrace has a new verandah and garden. It has a functional floor plan with two double bedrooms opening from a double-arched hallway, spacious living room and large kitchen and dining room.
A central period-style bathroom with claw-foot bath and shower opens to a central courtyard. Features include polished timber floors, period detail and gas heating. There’s a pergola covered brick-paved courtyard with right-of-way access. The tightly-held precinct is close to St Georges Road, Edinburgh gardens and the Inner Circle bike path.
Collins Simms’ long time agent Stephen Whitelaw said there was strong demand for real estate with his firm achieving a 95% auction success rate so far this year. "Demand for properties of all sorts is steady, particularly in the lower and middle sectors."
Prices of $800,000-$1.2 million are common with many potential buyers looking for apartments, terrace homes and townhouses.
Whitelaw said the middle to upper sector was not as "robust". Buyers here are seeking better located single fronted houses or renovated family homes, with the best price paid so far this year being around $2 million. Rentals are "price sensitive".
Agents Belinda Lindsay and Angela Coates, of Collins Simms Real Estate, will auction <a href="https://www.realestate.com.au/property-house-vic-fitzroy-115062555" target="_blank">164 Nicholson Street, Fitzroy</a> (pictured below) on Saturday, November 2 at 10:30am.
{yoogallery src=[images/stories/2013/10/21/fitz3]}
The ornate Italianate terrace is adjacent to the Carlton Gardens. I has a triple-arched facade and impressive interior. The Italianate Victorian balcony terrace has an arched hallway, four bedrooms (or three and large lounge room), formal sitting and dining rooms and family/meals area opening onto a deck. There’s a granite kitchen with European appliances, two bathrooms, laundry, marble open fireplaces, magnificent ceilings, polished floorboards, attic storage and right-of-way.
It’s just a walk to Lygon and Brunswick streets, the CBD and Melbourne University.
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"Best 12 months I can remember": Fitzroy agents revel in the good times

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Comprehensive information on Queensland’s social housing system is now available online for the first time through the government’s <a target="_blank" href="https://www.data.qld.gov.au">Open Data</a> website.  

Housing and Public Works Minister Tim Mander said the data includes information on social housing wait list times, number of applications, number of tenancies, market rent comparisons and other dwelling data.  

“This information provides a snapshot of the social housing system and will be particularly valuable to the community housing organisations and wraparound service providers seeking a greater role under the government’s Housing 2020 strategy,” he said. 

As well as social housing information, the data would also provide a greater level of detail on other types of housing assistance available through the department. 

“As well as the basic social housing data, there is also information on our range of private rental and assistance schemes, including RentConnect and Home Assist Secure,” Mander said.

“We will also provide details on the number of households assisted for National Rental Affordability Scheme properties.”

Mander said the Newman government was committed to improving government accountability and transparency through the proactive release of public sector information. 

“This information belongs to the people of Queensland and we believe it should be freely available to everyone,” he said. 

The Open Data website is at <a href="https://www.data.qld.gov.au/">www.data.qld.gov.au</a>.
 
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Queensland social housing information available online for the first time

One of North Sydney's best-known commercial buildings could become hundreds of new homes, with insurance giant Zurich Australia lodging a State Significant Development Application (SSDA) to transform 5 Blue Street into a mixed-use residential development above North Sydney Station.

Rather than demolishing the existing building and starting again, Zurich is proposing an adaptive reuse project that would convert the landmark office building into a 15-level residential development delivering 62 apartments, 86 affordable co-living dwellings, activated retail and significant upgrades to the Blue Street Plaza.

The proposal reflects a growing trend of commercial property owners repositioning ageing office assets into residential housing as Sydney grapples with housing supply shortages and changing workplace demand.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="0bba7d12-06dc-4375-aad7-238c94b21ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.42.05%E2%80%AFAM.png?VersionId=NJl5oLAEBDGuPmY3RnyliKODjMc8lvRh" />

Located directly above North Sydney Metro and train station, the 3,051 sqm site occupies one of the most strategically positioned parcels of land on Sydney's Lower North Shore.

Designed by fjcstudio, the proposal seeks to retain and adapt much of the existing structure while creating a contemporary residential address that better connects with the public domain surrounding North Sydney Station.

The application proposes two basement levels, ground floor retail, affordable co-living accommodation across the podium levels, and apartments above, while preserving and enhancing the publicly accessible Blue Street Plaza.

Rather than pursuing maximum apartment numbers, Zurich has opted for a housing mix heavily weighted towards larger owner-occupier residences.

The proposal includes 62 build-to-sell apartments comprising 12 one-bedroom, 19 two-bedroom, 29 three-bedroom apartments and two premium penthouses. It also incorporates 86 affordable co-living dwellings, which would be managed in perpetuity by a Community Housing Provider.

That balance between traditional apartments and affordable housing reflects the NSW Government's push to increase housing diversity around major transport infrastructure.

The proposal has been lodged concurrently with a rezoning application, with Zurich arguing the site is ideally positioned to support additional housing given its immediate proximity to public transport, employment and services.

"The proposal aims to respond to the housing challenges facing Sydney through the delivery of diverse housing types in a highly accessible location," the design report by fjcstudio states. It also seeks to improve pedestrian amenity through upgrades to Blue Street Plaza while creating a high-performing residential building that responds to the surrounding context.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="36082e15-c636-4481-bb68-5a5f6443fe39" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.41.36%E2%80%AFAM.png?VersionId=5P6VD.fvmqjQfIG3TWWMRXxQWiQBjeFB" />

Rather than replacing the commercial building, fjcstudio has developed a design that works with the existing structural framework above the rail corridor, an approach that significantly reduces demolition while allowing the site to be repositioned as a mixed-use residential precinct.

The existing structural constraints have informed much of the building's design, including its relationship with Blue Street and surrounding public spaces.

The building has been designed as a slender tower rising above a clearly defined podium, with vertically expressed façades intended to reduce the perceived bulk while reinforcing North Sydney's emerging skyline.

According to fjcstudio, the architectural language responds directly to the surrounding commercial towers while maintaining a finer grain expression more closely aligned with the neighbouring Lavender Bay streetscape.

The tower incorporates articulated façade elements, landscaped podium edges and recessed upper levels to soften its appearance and improve pedestrian amenity below.

A significant component of the proposal is the revitalisation of Blue Street Plaza.

The existing public space has long served as one of the primary pedestrian connections between North Sydney Station, Greenwood Plaza and Blue Street, yet its role is expected to become even more important following the opening of Sydney Metro.

Zurich's proposal seeks to strengthen that role by improving landscaping, introducing new retail frontages, enhancing pedestrian permeability and creating more active edges throughout the day and evening.

Ground floor retail would wrap the plaza, while separate residential and co-living entries have been designed to improve wayfinding without reducing street activation.

Landscape design has been integrated throughout the podium and public realm, softening what is currently one of the most heavily urbanised parts of North Sydney.

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fjcstudio has carefully oriented apartments towards Sydney Harbour and the CBD while using privacy blades and articulated façades to minimise overlooking between neighbouring buildings.

Large framed openings along the western elevation maximise harbour outlooks, while the eastern apartments have been angled towards the south-east to improve privacy from neighbouring development.

The project forms part of the continuing transformation of North Sydney from a predominantly commercial CBD into a genuine mixed-use city centre.

Since the completion of Victoria Cross Metro Station, developers have increasingly shifted their attention towards residential projects capable of leveraging the area's unparalleled transport connectivity.

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FiveX recently lodged plans for a 61-storey, 490-apartment tower that would become one of the tallest residential buildings in North Sydney if approved.

Aqualand continues to expand its Lower North Shore presence following the completion of AURA on Walker Street and its recent St Leonards and Roseville proposals.

Developers are also progressing projects throughout Walker Street, Miller Street and the Victoria Cross precinct as demand for well-located owner-occupier apartments continues to strengthen.

Joel Robinson

First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station

Busy developer Aqualand Prestige has formally taken the next step in its expansion across Sydney's Lower North Shore, lodging a State Significant Development Application (SSDA) for its long-held Archer Street site in Chatswood.

The application covers <a href="https://www.apartments.com.au/new-apartments/51-55-archer-street-chatswood-nsw-2067">51-55 Archer Street</a>, a 1,767 sqm amalgamated site on the eastern edge of the Chatswood CBD, where the developer is seeking approval for a 45-level mixed-use tower delivering 114 apartments, including a significant affordable housing component, alongside retail, commercial space and six basement levels of parking.

The SSDA marks the latest milestone for a project Aqualand has been quietly progressing over the past two years. The developer first secured the site for its Aqualand Prestige platform before undertaking an alternative design excellence process with PTW Architects, ultimately avoiding a formal design competition through the Housing Delivery Authority pathway.

The proposal has evolved considerably from Aqualand's original concept. The revised scheme has been designed around larger owner-occupier product, with an unusually high proportion of three and four-bedroom apartments, targeting the more affluent buyer profile, and downsizer, emerging across the North Shore.

<img alt="Archer St" data-entity-type="file" data-entity-uuid="0171204c-5811-41b5-9b09-2335d1b7c3d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%208.52.48%E2%80%AFAM.png?VersionId=6YTuxfq.puZo7k2wbfgemcO5K3QfXYGQ" />

The 114-apartment mix comprises six studios, 27 one-bedroom apartments, 18 two-bedroom apartments, 50 three-bedroom residences and 13 four-bedroom homes. A quarter of the building will be dedicated to affordable housing, well above the mandated 15 per cent&nbsp;

PTW has structured the building vertically, with affordable housing across levels one to six, premium apartments through levels seven to 31, duplex skyhomes on klevels 32 to 43, a penthouse on level 44, and a rooftop plant level above. Six basement levels will provide resident parking and servicing.

The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.

Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.

"The primary objective of this project was to create a distinctive building that stands out from the recently approved or built structures in the Chatswood area," the design report states, noting the structural efficiency allows greater investment into apartment quality and resident amenity.

Residents would have access to more than 450 sqm of communal open space including landscaped gardens, swimming pool, rooftop entertaining areas, fitness spaces, community gardens, children's play areas and barbecue facilities.

A major focus of the design has been the public domain.

The ground plane has been opened up through landscaped terraces inspired by Willoughby's sandstone ridges, with native planting, public seating, artwork, retail activation and a series of gathering spaces intended to soften what has traditionally been a hard commercial streetscape.

The landscape strategy references Blue Gum forests once common throughout the area, while incorporating Indigenous storytelling, public art and lighting installations to strengthen the connection to Country.

Chatswood has been one of Sydney's busiest apartment markets over the past 12 months, with a steady pipeline of both new project launches and fresh development applications.

Hyecorp recently launched Celine, a 122-apartment development just along Archer Street, while Changfa and Huirong Group are progressing The Anderson, an 84-apartment project on Anderson Street.

Develotek recently secured approval for a 101-apartment tower on Pacific Highway, while Tian An LFD received the green light for Hammond Greens, its apartment development on the edge of the Chatswood Bowling Club.

Commercial property developer FiveX is also making its move into the residential market. Last month it lodged plans for a 61-storey tower with 490 apartments, which, if approved, would become one of the tallest residential buildings in Chatswood.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-targets-chatswood-skyline-with-61-storey-tower-after-north-sydney-plans">First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans</a>

Aqualand is also expanding its development pipeline following the launch of its luxury residential brand, Aqualand Prestige. The developer has delivered a string of high-end apartment projects across Sydney's affluent suburbs over the past decade, most recently AURA by Aqualand on Walker Street in North Sydney.

[smartcode_project:default project_id=30959 project_image_fid=292863]

It has since quietly assembled its next wave of projects.

Earlier this year Aqualand launched Boronia in Roseville, a boutique 111-apartment development on Larkin Street. The project is one of the first significant apartment developments to launch in the suburb ahead of what is expected to become one of Sydney's most active new housing precincts under the NSW Government's Low and Mid-Rise Housing reforms, which allow greater density around train stations.

[smartcode_project:default project_id=152095 project_image_fid=373685]

The developer has also lodged plans for a two-tower, 413-apartment development on Herbert Street in nearby St Leonards, further strengthening its presence across the Lower North Shore.

Beyond that, Aqualand remains behind the final stage of Barangaroo, where plans will deliver a five-hectare mixed-use precinct comprising new homes, retail, hospitality and community facilities, alongside a new Metro entrance and more than two hectares of public open space, completing the Barangaroo precinct.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/central-barangaroo-development-takes-big-step-with-concept-proposal-approval">Central Barangaroo development takes big step with concept proposal approval</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-aqualand-joins-st-leonards-apartment-party">First look: Aqualand joins St Leonards apartment party</a> 
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First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

Mass timber is becoming an increasingly popular construction material in apartment developments, but Adelaide developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> is taking the approach a step further.

At its new <a href="https://www.apartments.com.au/new-apartments/flowe-bowden-18-gibson-street-bowden-sa-5007">Flowe Bowden</a> development, the exposed cross-laminated timber (CLT) structure isn't just about reducing the building's environmental footprint. It also forms the foundation of a broader wellness strategy, influencing everything from indoor air quality and natural materials to the way residents move through and experience the building.

The 115-apartment mixed-use development, designed by Melbourne-based architecture practice Fieldwork, will occupy a prominent island site opposite Bowden Village Reserve, combining one, two and three-bedroom apartments with retail and a dedicated wellness destination.

[smartcode_project:default project_id=152022 project_image_fid=375528]

Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.

The development has been split into two residential wings connected by a naturally ventilated central breezeway, replacing traditional enclosed corridors with open-air walkways that improve natural light, encourage cross ventilation and create more opportunities for neighbourly interaction.

"Rather than treating wellness as something that only happens on the ground floor, our response integrates it throughout the building, which led us to ask what it really means to design a healthy building," Fieldwork Director Quino Holland said.

[smartcode_project:default project_id=152022 project_image_fid=375531]

The building's architecture also reflects Bowden's industrial heritage. The lower podium references the area's historic brick and sandstone buildings, while the upper levels transition to exposed CLT, allowing the timber structure to become a defining feature throughout the apartments and shared spaces.

The use of mass timber sits alongside a range of sustainability initiatives, including a fully electric, gas-free design, rooftop solar and a targeted 5 Star Green Star rating.

[smartcode_project:default project_id=152022 project_image_fid=375524]

Inside the residences, the focus remains on natural, durable materials. Blackbutt engineered timber flooring, exposed CLT ceilings, porcelain surfaces and warm timber joinery create a calming interior palette, while low-VOC finishes and responsibly sourced materials have been selected to improve indoor air quality.

Kitchens have been designed as the centrepiece of each apartment, featuring porcelain island benchtops, timber-look cabinetry and brushed steel tapware, with layouts that maximise natural light and ventilation.

[smartcode_project:default project_id=152022 project_image_fid=375530]

The more traditional interpretation of wellness comes in the form of Level Eleven, a two-storey wellness club spanning the ground floor, mezzanine and first floor.

The facility will include a gym, yoga and reformer Pilates studios, Finnish and infrared saunas, magnesium hot and cold plunge pools, and dedicated recovery spaces. Unlike many residential wellness facilities, Level Eleven will also operate commercially, allowing the broader Bowden community to access the venue while giving residents exclusive membership benefits.

The ground floor has also been designed around everyday living. A café overlooking Bowden Village Reserve will activate the street frontage, while a bike workshop with tool storage, co-working space and dog wash has been incorporated to support daily routines and encourage interaction between residents.

"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.

"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."

Flowe is positioned directly opposite Bowden Village Reserve and within walking distance of Bowden Railway Station and the Adelaide Entertainment Centre, placing future residents just minutes from the Adelaide CBD while remaining connected to one of the city's most established urban renewal precincts.

[smartcode_project_cta:default project_id=152022]

Otello launches wellness-focused Flowe Bowden with Adelaide-first mass timber apartment design

Not all apartment amenities are immediately visible.

Swimming pools, gyms, rooftop terraces and residents' lounges have long featured on buyers' wishlists, but as the way Australians live has changed, so too have the features that make apartment living more convenient.

Increasingly, buyers are placing value on the practical aspects of day-to-day life. Fast internet, EV charging, secure bike storage, flexible workspaces and parcel management are becoming just as relevant as lifestyle amenities, reflecting changing habits and expectations.

Online shopping has been one of the biggest drivers of that shift.

Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally, making parcel deliveries a routine part of everyday life rather than an occasional convenience.

For apartment residents, however, receiving those deliveries isn't always straightforward.

Without someone home to accept a parcel, deliveries can be redirected to a nearby Post Office, left in building foyers or common areas, or require building management to temporarily store packages. As apartment living continues to grow across Australia's cities, parcel management has become an increasingly important consideration for both residents and developers.

Australia Post's Parcel Locker network is one response to that shift.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/KPZ9j5FRdsQ?si=Qztc1dNP3ZvEIUhb" title="YouTube video player" width="560"></iframe>

Rather than relying on home delivery, eligible parcels can be directed to a nominated Parcel Locker, where they're securely stored until collected. Once a parcel arrives, residents receive a notification through the AusPost app or SMS and can retrieve it using a one-time code or QR code at a time that suits them.

The network has expanded to more than 1,500 locations nationwide, with Parcel Lockers positioned at Post Offices, shopping centres, supermarkets, transport hubs and, increasingly, within or alongside residential developments.

That growing presence reflects a broader change in how apartment buildings are being planned.

Developers are increasingly considering the operational side of apartment living alongside traditional lifestyle amenities. Just as secure mailrooms, bicycle storage and EV charging have become more common inclusions, parcel management is emerging as another feature that supports everyday convenience.

It also helps preserve the arrival experience within a building. Carefully designed lobbies and communal spaces can quickly become cluttered when deliveries accumulate, while secure parcel solutions reduce the likelihood of missed deliveries or parcels being left unattended.

For buyers comparing apartments, these everyday details are becoming part of the decision-making process.

Location, floorplans and finishes remain fundamental, but the features that simplify daily life are carrying greater weight than they once did. As online shopping continues to shape consumer behaviour, secure parcel delivery is increasingly becoming another amenity worth looking for.

Parcel delivery is joining the apartment amenity checklist

Inca Property Group has lodged a State Significant Development Application (SSDA) for Dawn, a 53-apartment oceanfront development overlooking Mona Vale Beach.

The proposal, at 35-39 Darley Street East, would replace an existing 18-apartment strata building with a new owner-occupier-focused development comprising 53 two and three-bedroom apartments, including nine affordable built-to-rent residences delivered under the State's infill affordable housing scheme.

Positioned on a 2,679 sqm elevated site around 280 metres from Mona Vale Beach, the development has been designed to maximise panoramic ocean views while responding to the site's sloping topography.

<a href="https://www.apartments.com.au/developers/inca-property-group">Inca Property Group</a> Managing Director Josh Thompson said the State Significant pathway provided greater certainty for projects of this scale.

"This State Significant pathway gives the team real certainty to progress <a href="https://www.apartments.com.au/new-apartments/dawn-35-39-darley-street-east-mona-vale-nsw-2103">Dawn</a> through to completion," Thompson said.

"It allows us to acquire a one-off site, design it carefully and deliver the right offering for the suburb, assessed by the NSW Government's planning department."

The project is one of the first developments in the area to be assessed under the NSW Government's Low and Mid-Rise Housing policy, with the site sitting on the edge of the policy's designated inner area.

The proposal includes three basement levels providing 124 car spaces, alongside a range of resident amenities including a swimming pool, gym, sauna, wellness facilities and private plunge pools for selected ground-floor and penthouse apartments.

<img alt="Dawn" data-entity-type="file" data-entity-uuid="fc1a1daf-0ce4-4f12-9076-b1fa553c7a91" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-21%20at%208.42.11%E2%80%AFAM.png?VersionId=4GZ9h.gpNkTljbxyAET8Jfhv51XUamDm" />

Thompson said Dawn had been designed specifically for owner-occupiers and downsizers, a buyer profile that has driven demand across Inca's recent Upper North Shore developments.

"The majority of buyers in our recent North Shore projects have been downsizers, and we are learning exactly what this market is looking for. Beyond the location itself, we have included resort-style amenities to deliver a genuine lifestyle offering," Thompson said.

Located within walking distance of Mona Vale Beach, the town centre, Mona Vale Golf Club and the Royal Motor Yacht Club, Dawn represents Inca's first Northern Beaches project following the sell-out of Tara on Park in Waitara and Ellis Residences, currently under construction in St Ives.

Construction will be undertaken by Inca's in-house construction arm, GOP Constructions.

Dawn is the latest major apartment proposal for Mona Vale, with the suburb emerging as one of the key beneficiaries of the NSW Government's new Low and Mid-Rise Housing policy.

New developer One Living, led by industry veteran Joseph Scuderi, recently secured a site on Mona Vale Road, on the border of Mona Vale and Pymble, where it is planning around 140 apartments.

IPM is also planning its third project in Mona Vale, significantly increasing the scale of its previous developments with an 82-apartment proposal at <a href="https://www.apartments.com.au/new-apartments/159-167-darley-street-west-mona-vale-nsw-2103">159-167 Darley Street West</a>, opposite Bayview Golf Course and less than 800 metres from Mona Vale town centre.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/one-living-enters-sydneys-new-apartment-market-with-northern-beaches-site-acquisition">One Living enters Sydney's new apartment market with Northern Beaches site acquisition</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-ipm-plans-third-mona-vale-project">First look: IPM plans third Mona Vale project</a>

Stephen Taylor

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