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Construction has commenced at the Heyington in Toorak, and despite Covid related restrictions is progressing ahead of schedule with completion pegged for late 2021.

Located at 63 Heyington Place, Sterling Global Development said it has been well received by the market with a number of sales throughout the COVID pandemic.

The development is made up of 3 bedroom residences over 4 levels, designed by award-winning Carr Architecture and Interior Design, each Heyington residence has been designed as an apartment of "grand proportions with ample outdoor space". The ground floor homes have large courtyards; one with a private pool.

‘Refined by Nature’, Heyington is immersed and informed by a garden landscape designed by Acre, Carr Architecture Director, Chris McCue said.

"Large garden setbacks and terraces will overflow with evergreen and seasonal planting. Heyington interiors entice with evident fine craftsmanship throughout."

"Attention has been given to ceilings and floors. Vaulted high ceilings of 2.9m throughout the living areas The floor is a contemporary stack parquetry," McCue added.

Heyington’s façade will feature stone cladded columns and these column bays will create terraces and showcase planter boxes to prevent overlooking on the spaces below.

The building’s form itself will be set against a backdrop canopy of mature trees and ground plants.

There are security features throughout and protected underground parking for 2 - 3 vehicles.

<h2>Developments Nearby</h2>

Edition

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/edition.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="369" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/edition.png?itok=3wXBNU6v" width="580"></a></figure>A similarly boutique Toorak development is the Edition, comprising just 3 exclusive residences. With prices starting from $5 million they are known as The Arc, The Botanic and The Sky, wrapped in an architecturally expressive exterior.

Edition No.1, The Arc Residence, inspired by the winding banks of the Yarra River, has a curvaceous entrance with curved walls and brickwork. 

Edition No.2, The Botanic Residences, is a two-level home with the main feature being the sculptural staircase connecting the house.

"Edition No.3, The Sky Residences, is designed to encompass everything that is great about the first two residences with all the elements of a stately home. Living zones appear across two floors with fireplaces, an expansive terrace with soaring ceilings and an array of vast windows to frame views in every direction," according to the marketing material.

Samuel Property, Cera Stribley Architects and Jack Merlo are the creators of this project.

The Mill

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/the_mill.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="337" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/the_mill.png?itok=42pibZc0" width="580"></a></figure>Within the same suburb as the Heyington is The Mill Residences Of Toorak. Situated at 663 Malvern Road the townhouse development comprises a number of three and four-bedroom townhouses and apartments.

Prices range from $1.875 million - $3.8 million.

The 32 residence development was designed by CHT Architects for developer Delta Property Group
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Construction has commenced at Heyington, and despite Covid related restrictions is progressing ahead of schedule with completion pegged for late 2021

urban.com.au

Construction has commenced at the Heyington in Toorak

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Located in the heart of Melbourne’s suburb of Glen Waverley above The Glen Shopping Centre, property developer Golden Age Group and Joint Venture partner Probuild, in collaboration with retail manager Vicinity, have celebrated the completion of Australia’s largest air rights development to date – Sky Garden.

The Melbourne property developer and tier one construction company delivered the $450 million project within anticipated timelines despite lockdown regulations across the state of Victoria.

Victorian Managing Director Sam Delmenico from Probuild, which also completed the $500 million retail redevelopment for The Glen Shopping Centre, said Sky Garden demonstrates the commitment of both Golden Age Group and Probuild to deliver the large-scale and high-quality build.

As Sky Garden prepares to welcome over 1,000 residents before Christmas, Golden Age Group Sales and Marketing Director, Dandan Zhao said the resilience in sales throughout the year is evidence of the quality of the project and its ability to remain on track despite the lockdown - with close to $50 million worth of apartments sold during 2020 alone.

Designed in collaboration with multi-award winning architect Rothelowman, interiors by DKO Architecture, and featuring landscaping by Aspect Studios, Sky Garden originally launched to market with 555 one, two and three-bedroom residences across three towers. The number of residences has since dwindled to 536 apartments due to demand from downsizers seeking three-bedders, leading to a number of amalgamations.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/air-rights_2.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="387" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/air-rights_2.jpg?itok=w6Hherfq" width="580"></a></figure>Residents will have access to a 4,000 square metre outdoor podium garden complete with a relaxation zone, entertainment lounges, vegetable gardens, a designated children’s play area and outdoor fitness areas. Other amenities include a luxurious pool, a fully equipped gym, private dining rooms and terraces which can be booked for private functions, a private cinema and a library, alongside more than 240 speciality retail stores and a fresh food market hall situated in The Glen below.

A selection of <a href="http://skygardenresidences.com.au/">final release apartments remain</a> with a starting price of $498,000 for one-bedroom, $668,000 for a two-bedroom residence and $1,188,000, all coming with car parks. For further information please visit

<h2>Developments Nearby</h2>

Randall Residence

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/randall_residences.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="334" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/randall_residences.png?itok=h1Q8NRp6" width="580"></a></figure>Located in just the next suburb over, Mount Waverley, is Randall Residence.

Situated at 9 Randall Court, Mount Waverley, the development is comprised of a number of two storey townhouses..
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Sky Garden prepares to welcome over 1,000 residents before Christmas, with close to $50 million worth of apartments sold during 2020 alone. 

Australia’s largest air-rights development, Sky Garden in Glen Waverley completed

Luna at Burleigh Heads is now a sellout with all eight sold.

The full-floor residences on the near beachfront were priced from $3.9 million.

Located at 50 Goodwin Terrace, Burleigh Heads the project is separated from the beach by a street and a car park.

Its penthouse is dual-level, with its own rooftop pool.

Each apartment has three bedrooms, with all bedrooms equipped with an ensuite bathroom.

The balconies also have integrated BBQ/outdoor kitchenette areas..

Living rooms are afforded full height windows that frame the ocean scenery.

<figure><a href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/burleigh_2.jpg"><img alt="" data-entity-type="" data-entity-uuid="" height="435" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/burleigh_2.jpg?itok=dZO1MAWQ" width="580" /></a></figure>

The 506 sqm site was bought last December for $5.5 million having operated as the Fish House restaurant.

It sits next to the 1981 Burleigh Beach Tower which had five sales during 2020 ranging from $599,000 to $752,500.

The two bedroom two bathroom $599,000 sale had sold at $627,000 in 2017, according to CoreLogic.

<h2>Development Nearby</h2>

Sandbar Burleigh

<figure><a href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/sandbar.png"><img alt="" data-entity-type="" data-entity-uuid="" height="344" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/sandbar.png?itok=DqnPHbv0" width="580" /></a></figure>

A development which still has apartments on offer is the Sandbar Burleigh at 1969-1971 Gold Coast Highway. It comprises 163 two and three bedroom&nbsp;residences.

Prices start from $590,000.

Each apartment at Sandbar, Burleigh Heads, is appointed with European fitments by Parisi and premium appliances by Franke.

<h2>Other developments for sale on the Gold Coast</h2>

Shoreline, Surfers Paradise

[smartcode_project:default project_id=22057]

Shoreline is the latest&nbsp;Surfers Paradise tower&nbsp;to be created by Marquee Development Partners.

The boutique 27 apartment development across 17 levels offers residents a luxury unseen in the between Surfers Paradise and Broadbeach for a number of years.

Miles Residences, Kirra Beach

[smartcode_project:default project_id=27575]

The Miles Residences Kirra Point will be one of Kirra Point's most impressive towers when it's completed in 2023.

The development of 118 apartments is part of the redevelopment of the&nbsp;Kirra Beach&nbsp;Hotel. The brains behind the operation is the family-ran KTQ Group, led by Peggy Flannery, who are behind the award-winning Elements of Byron Bay.

The eight full-floor residences on the near beachfront were priced from $3.9 million.

Burleigh Heads trophy beach development Luna sold out

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Stockland, one of Australia’s largest diversified property groups, has opened its latest display village at Cloverton to the public.

Currently viewed by appointment only, the display home village features 21 inspiring homes from 11 of well-known Melbourne home builders. Stockland are hoping to add to the existing 2,000 residents already living in the Kalkallo community with a plethora of first home buyers looking to take advantage of the HomeBuilder Grant that was recently extended to March 31 2021.

“Cloverton is set to be the future city of Melbourne’s north. The community is already flourishing with three parks, a popular café, an early learning centre and a primary school set to open in 2022. There’s plenty on offer now and into the future for our community,” Stockland Project Director, James Westh said.

The 21 homes in the display village have been built by 11 different builders including: Porter Davis, Metricon, Carlisle Homes, Simonds, Eight Homes, Bentley Homes, Mimosa Homes, Home Group, Homebuyers Centre, Boutique and ABC Homes.

<h2>Other Stockland Developments</h2>

Waterlea, Rowville

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/waterlea.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="324" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/waterlea.png?itok=Av8aT59w" width="580"></a></figure>Another community project by Stockland is Waterlea, a sustainable 6 Star Green Star urban community. Set in 40 plus hectares of natural habitat and green open spaces, the neighbourhood sits at the foot of the Dandenong Ranges in Melbourne’s southeast suburb of Rowville. 

It has been designed by the Group GSA Architects.

Haven, Altona North

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/haven.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="289" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/haven.png?itok=8JYHOjlq" width="580"></a></figure>Other Stockland projects include Haven in Altona North, comprised of two, three and four bedroom townhouses designed by SJB architects. It has prices ranging from $605,000 - $805,000 available for purchase off the plan.

Another, is the Terraces at Minta in Berwick (pictured below), 46 residences set for completion in 2021 with a lower price point of $450,000 - $550,000 making both these projects eligible for the extended HomeBuilder Grant.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/minta_terraces.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="344" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/minta_terraces.png?itok=1ZtqlPhe" width="580"></a></figure>
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The display home village features 21 inspiring homes from 11 of well-known Melbourne home builders.

Stockland's new Kalkallo community display village opens in Cloverton

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Like many of the smaller capital cities through COVID-19, Adelaide dwelling values avoided price declines, according to the latest data from CoreLogic.

The combined value of the Adelaide dwelling market is 4.1% higher from March through to November, and dwelling values are currently at a record high.

In the three months to November, dwelling value increases were strongest across the North of Adelaide, where typical dwelling values were $378,705.

The rate of change in Adelaide dwelling values has historically been among the least volatile of the capital cities. But with momentum building across the market, quarterly growth rates have reached the highest level in ten years.

"Nationally, housing market values did not see the large decline anticipated at the start of the COVID-19 pandemic. Housing values fell just 1.9% between March and September before moving into a recovery trend, increasing 0.4% nationally through October and 0.8% in November," Eliza Owen, CoreLogic’s Head of Research Australia said.

"Relative to previous housing market downturns, the current decline through to November seems relatively mild, with dwelling values just 0.7% below the pre-COVID levels. There are numerous factors which have contributed to the prevention of a larger downturn in dwelling values including the institutional, coordinated response to the pandemic, which have seen low borrowing costs, added incentives for first home buyers and the extension of mortgage repayment deferrals limiting forced sales."

"Despite an initial slump in housing finance through the beginning of the year due to the COVID-19 pandemic, the year to October saw a remarkable 14.5% lift in the volume of finance secured for the purchase of property, according to ABS lending indicators."

"The post-COVID mortgage lending boost was driven by owner-occupiers including changeover buyers such as upsizers and downsizers, as well as buyers getting into the property market for the first time."

"Money lent to first home buyers saw the fastest growth rate at 35.1% in the year to October, accounting for 22.1% of lending, up from 18.8% in the year prior. Meanwhile, investor mortgage lending increased less than 1% in the same period. There are several factors that contributed to this growth in first home buyer activity, including generational trends, monetary and fiscal incentives and lower dwelling values and competition," she concluded.
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The combined value of the Adelaide dwelling market is 4.1% higher from March through to November, and dwelling values are currently at a record high.

Adelaide dwelling values ignored the COVID-19 decline reaching record highs

<html><body>Through to November, there have been signs of an economic and property market uplift in Victoria, according to the latest data from CoreLogic.

This follows a decline in Melbourne dwelling values, which are sitting 5.0% below the record high value reached in March 2020.

New listings across Melbourne rose from 2,756 in the month of September, to over 8,000 in November. Meanwhile, sales activity rose from 1,546 to an estimated 4,301. This means the increase in sales activity has not matched the big increase in stock on the market, which may have a dampening effect on the recovery of the Melbourne market.

The Melbourne rental market has been particularly impacted by the pandemic. This may also end up impacting property values, and CoreLogic data suggests larger dwelling value declines are correlated with declines in rent values.
"Nationally, housing market values did not see the large decline anticipated at the start of the COVID-19 pandemic. Housing values fell just 1.9% between March and September before moving into a recovery trend, increasing 0.4% nationally through October and 0.8% in November," Eliza Owen, CoreLogic’s Head of Research Australia said.

"Relative to previous housing market downturns, the current decline through to November seems relatively mild, with dwelling values just 0.7% below the pre-COVID levels. There are numerous factors which have contributed to the prevention of a larger downturn in dwelling values including the institutional, coordinated response to the pandemic, which have seen low borrowing costs, added incentives for first home buyers and the extension of mortgage repayment deferrals limiting forced sales."

"Despite an initial slump in housing finance through the beginning of the year due to the COVID-19 pandemic, the year to October saw a remarkable 14.5% lift in the volume of finance secured for the purchase of property, according to ABS lending indicators."

"The post-COVID mortgage lending boost was driven by owner-occupiers including changeover buyers such as upsizers and downsizers, as well as buyers getting into the property market for the first time."

"Money lent to first home buyers saw the fastest growth rate at 35.1% in the year to October, accounting for 22.1% of lending, up from 18.8% in the year prior. Meanwhile, investor mortgage lending increased less than 1% in the same period. There are several factors that contributed to this growth in first home buyer activity, including generational trends, monetary and fiscal incentives and lower dwelling values and competition," she concluded.</body></html>

Through to November, there have been signs of an economic and property market uplift in Victoria, according to the latest data from CoreLogic.

Despite a recovery, Melbourne property values remain 5% below peak

<html><body>Both Sydney and regional NSW were back into the upswing phase of the property cycle in the three months to November, according to the latest CoreLogic data.

Sydney dwelling values were up 0.3%, while regional values were up 3.1%. For regional NSW, this is the highest quarterly growth rate through 2017.

Indicators are showing the regional NSW dwelling market is still on the rise, despite the recession. Every regional market in NSW has seen an increase in dwelling values since March through to November. There were around 18,000 regional dwelling sales in the three months to November, up a remarkable 23.3% on the same period in 2019.

Looking forward to 2021, NSW dwelling markets are generally expected to remain in upswing, but pockets of the market are at risk of further decline. 

"Nationally, housing market values did not see the large decline anticipated at the start of the COVID-19 pandemic. Housing values fell just 1.9% between March and September before moving into a recovery trend, increasing 0.4% nationally through October and 0.8% in November," Eliza Owen, CoreLogic’s Head of Research Australia said.

"Relative to previous housing market downturns, the current decline through to November seems relatively mild, with dwelling values just 0.7% below the pre-COVID levels. There are numerous factors which have contributed to the prevention of a larger downturn in dwelling values including the institutional, coordinated response to the pandemic, which have seen low borrowing costs, added incentives for first home buyers and the extension of mortgage repayment deferrals limiting forced sales."

"Despite an initial slump in housing finance through the beginning of the year due to the COVID-19 pandemic, the year to October saw a remarkable 14.5% lift in the volume of finance secured for the purchase of property, according to ABS lending indicators."

"The post-COVID mortgage lending boost was driven by owner-occupiers including changeover buyers such as upsizers and downsizers, as well as buyers getting into the property market for the first time."

"Money lent to first home buyers saw the fastest growth rate at 35.1% in the year to October, accounting for 22.1% of lending, up from 18.8% in the year prior. Meanwhile, investor mortgage lending increased less than 1% in the same period. There are several factors that contributed to this growth in first home buyer activity, including generational trends, monetary and fiscal incentives and lower dwelling values and competition," she concluded.</body></html>

Both Sydney and regional NSW were back into the upswing phase of the property cycle in the three months to November, according to the latest CoreLogic data.

Regional property market driving NSW sales spike

<html><body>Across Brisbane, dwelling values have risen 0.9% from the onset of the pandemic in March through to November, with dwelling values now at a record high, according to the latest CoreLogic data.

Despite the recent uplift in the dwelling market across Brisbane, unit values remain 8.9% lower over the decade.

Most Queensland dwelling markets are in upswing. Grouping Queensland into 19 sub-markets, 17 have seen dwelling value increases since the onset of COVID-19. The Brisbane Inner City and Brisbane West markets were the only dwelling markets to see a fall in values during the period.

The Melbourne rental market has been particularly impacted by the pandemic. This may also end up impacting property values, and CoreLogic data suggests larger dwelling value declines are correlated with declines in rent values.
"Nationally, housing market values did not see the large decline anticipated at the start of the COVID-19 pandemic. Housing values fell just 1.9% between March and September before moving into a recovery trend, increasing 0.4% nationally through October and 0.8% in November," Eliza Owen, CoreLogic’s Head of Research Australia said.

"Relative to previous housing market downturns, the current decline through to November seems relatively mild, with dwelling values just 0.7% below the pre-COVID levels. There are numerous factors which have contributed to the prevention of a larger downturn in dwelling values including the institutional, coordinated response to the pandemic, which have seen low borrowing costs, added incentives for first home buyers and the extension of mortgage repayment deferrals limiting forced sales."

"Despite an initial slump in housing finance through the beginning of the year due to the COVID-19 pandemic, the year to October saw a remarkable 14.5% lift in the volume of finance secured for the purchase of property, according to ABS lending indicators."

"The post-COVID mortgage lending boost was driven by owner-occupiers including changeover buyers such as upsizers and downsizers, as well as buyers getting into the property market for the first time."

"Money lent to first home buyers saw the fastest growth rate at 35.1% in the year to October, accounting for 22.1% of lending, up from 18.8% in the year prior. Meanwhile, investor mortgage lending increased less than 1% in the same period. There are several factors that contributed to this growth in first home buyer activity, including generational trends, monetary and fiscal incentives and lower dwelling values and competition," she concluded.</body></html>

Across Brisbane, dwelling values have risen 0.9% from the onset of the pandemic in March through to November, with dwelling values now at a record high, according to the latest CoreLogic data.

Brisbane property market on the upswing, barring the inner-city and West

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Unit rents in Sydney and Melbourne continue to fall reflecting continued high vacancy rates notably in inner city and CBD markets that are under pressure from sharply reduced demand and surging supply particularly from previous holiday accommodation now converting to the permanent market. Conversely house rents are on the rise Indicating perhaps Increased demand for larger, outer suburban homes.

Sydney average asking rents for units fell by 2.3% over November but rents for houses Increased sharply by 2.5%. Perth rents continue to rise for both houses and units. Capital city rental markets continue to report diverging results with significantly lower and falling vacancy rates for houses offset by higher rates for units. This reflects sharply falling demand and increased supply of units - particularly in inner-city Sydney and CBD Melbourne.

HOUSE AND UNIT RENTAL VACANCY RATES 

Reflecting rent declines In the unit market, vacancy rates continue to Increase In Melbourne and Sydney - remaining at record levels. Vacancy rates for houses are significantly lower in all capitals by comparison with units and likely to continue to place upward pressure on rents.

HOME LOANS 

ABS home lending data reported another Increase over October with owner-occupier loans continuing at unprecedented levels. Total residential lending increased by 1.1% over October and has risen by 16.8% over the first 10 months of this year compared to the same period In 2019. All buyer types reported increases over October however, remarkably, lending for first home buyers now exceeds that reported for Investors. All states, with the exception of Victoria reported Increases In the total value of housing loans approved over October. Similarly, only Victoria failed to record an Increases In first home buyer lending over October, falling by 5.9%.

Although lending for first home buyers has surged this year driven by numerous state and federal government Incentive policies, levels remain well below those recorded during the post GFC revival period In 2009-10. Lending for new home building continues to be a significant contributor to the recent surge In home lending reflecting In particular the Impact of the recently extended federal government HomeBuilder policy.  Victoria continues to clearly record the highest number of loans for home building followed by QLD and WA.

HOME BUILDING 

The surge In lending for home building Is also been reflected In rising house building activity over recent months. Latest ABS building approvals for October were however lower in Sydney and Melbourne over the month but significantly higher In Brisbane and sharply higher In Perth.  Despite recent rises In home building approvals, underling levels, particularly for units, remain well below previous peak levels.
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Unit rents in Sydney and Melbourne continue to fall reflecting continued high vacancy rates notably in inner city and CBD markets, according to Archistar's Chief Economist Andrew Wilson.

Unit rents continue to fall across Melbourne and Sydney

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<h2>EXPERT OBSERVATION</h2>

Nationally, housing market values did not see the large decline anticipated at the start of the COVID-19 pandemic. Housing values fell just 1.9% between March and September before moving into a recovery trend, increasing 0.4% nationally through October and 0.8% in November.

Relative to previous housing market downturns, the current decline through to November seems relatively mild, with dwelling values just 0.7% below the pre-COVID levels. There are numerous factors which have contributed to the prevention of a larger downturn in dwelling values including the institutional, coordinated response to the pandemic, which have seen low borrowing costs, added incentives for first home buyers and the extension of mortgage repayment deferrals limiting forced sales.

Despite an initial slump in housing finance through the beginning of the year due to the COVID-19 pandemic, the year to October saw a remarkable 14.5% lift in the volume of finance secured for the purchase of property, according to ABS lending indicators.

The post-COVID mortgage lending boost was driven by owner-occupiers including changeover buyers such as upsizers and downsizers, as well as buyers getting into the property market for the first time.

Money lent to first home buyers saw the fastest growth rate at 35.1% in the year to October, accounting for 22.1% of lending, up from 18.8% in the year prior. Meanwhile, investor mortgage lending increased less than 1% in the same period. There are several factors that contributed to this growth in first home buyer activity, including generational trends, monetary and fiscal incentives and lower dwelling values and competition.

Eliza Owen is CoreLogic’s Head of Research Australia
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Today CoreLogic has released its latest Quarterly Economic Review which unpacks the recent recovery trend in housing market values observed in the months to November 2020.

Australian housing market values up 0.8 per cent in November: CoreLogic's Eliza Owen

The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Joel Robinson

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
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[smartcode_project_cta:default project_id=112661]

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