A new 25-storey apartment tower proposed for Mercer Street would push Geelong’s western gateway skyline higher, with Morphy Birrell Property Group lodging plans for a project directly beside one of the city’s most significant heritage streetscapes.

The <a href="https://www.apartments.com.au/architects/fk-australia">FK</a>-designed development at <a href="https://www.apartments.com.au/new-apartments/65-67-mercer-street-geelong-vic-3220">65-67 Mercer Street</a> has now been referred to Victoria’s Planning Minister. The site sits opposite the Geelong rail corridor and immediately south of the heritage-listed St Peter and Paul’s Catholic Church and Ashby Hall precinct.

Rather than compete with the neighbouring ecclesiastical buildings, the proposal adopts a sculpted podium intended to reference the materiality and scale of the heritage context. Planning documents note the design draws cues from the “dark stone brick” church and surrounding masonry buildings, while the tower above transitions into a softer, curved form oriented toward Corio Bay and the Geelong waterfront.

<img alt="First look: Morphy Birrell Property Group targets 25-storey Geelong tower beside landmark church precinct" data-entity-type="file" data-entity-uuid="b797d10c-d4a6-47af-b8df-1aeaa3b382be" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/public%20square.png?VersionId=QGIpcz1x1hKB6lQLl2iobyHqb6PS2Ztc" />

The development forms “Stage 5” of Morphy Birrell Property Group’s broader Mercer Street precinct strategy, following the completion of the 21-storey Miramar tower on Cavendish Street and several additional approved redevelopment stages nearby. Planning consultants Ratio said the proposal “represents an exemplary development outcome” aligned with the strategic ambitions for Central Geelong’s continued urban renewal.

The mixed-use project would replace an existing low-rise commercial building and surface parking area on the 3,320 sqm corner site. FK’s urban context report describes the proposal as a residential development comprising apartments, resident amenities, commercial space, and integrated landscaping positioned to maximise bay views and northern sunlight access.

Renders show a deeply articulated tower with curved balconies stepping above a lower masonry podium that frames a landscaped forecourt facing Mercer Street. The design intentionally preserves sightlines toward the adjacent church buildings, with the podium scaled to reinforce the heritage edge before the tower recedes upward.

<img alt="First look: Morphy Birrell Property Group targets 25-storey Geelong tower beside landmark church precinct" data-entity-type="file" data-entity-uuid="2bdca91e-66f7-4ac7-8baa-2f93bd5b564e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/geelong%20site.png?VersionId=QOhbino4ZgzKYw5dW3QE14E.2yq.Sv87" />

The planning report highlights the site’s strategic location within 400 metres of key Geelong destinations including Cunningham Pier, the Geelong Station precinct, Deakin University, and the convention centre. Bus services run directly along Mercer Street, while the Corio Bay foreshore sits around 100 metres north of the site.

The proposal arrives amid accelerating redevelopment across central Geelong, where planning policy continues to encourage higher-density housing close to transport infrastructure and the waterfront. Mercer Street in particular has emerged as a focal point for taller apartment development due to its proximity to Geelong Station, the bay, and major civic infrastructure.

Joel Robinson

Morphy Birrell Property Group targets 25-storey Geelong tower beside landmark church precinct

Development giant&nbsp;<a href="https://www.apartments.com.au/developers/hamton">Hamton</a> and joint venture partner Hostplus have revealed the next residential stage of their $3 billion Moonee Valley Park masterplan, lodging plans for 512 more apartments within the precinct on surplus racecourse land at 110 Wilson Street, Moonee Ponds.

The proposed development, dubbed&nbsp;<a href="https://www.apartments.com.au/new-apartments/trackside-house-110-wilson-street-moonee-ponds-vic-3039">Trackside Gardens</a>&nbsp;in the planning application, follows the <a href="https://www.apartments.com.au/news/vic/first-look-exclusive-hamton-and-hostplus-reveal-sixth-stage-of-moonee-valley-park-masterplan">recent unveiling of the sixth-stage Cox Place Precinct</a> and continues the long-running transformation of the Moonee Valley Racecourse into one of Melbourne’s largest urban renewal projects.

Positioned on the north-eastern edge of the racecourse adjacent to CityLink, Trackside Gardens will comprise three residential buildings rising between 61.8 metres and 86.4 metres within a heavily landscaped precinct shaped by Hamton’s Nature Based Cities framework.

The project forms part of the broader Moonee Valley Park redevelopment being delivered by Hamton, Hostplus and the Moonee Valley Racing Club, which is reshaping the 40-hectare racecourse site into a mixed-use neighbourhood with housing, retail, commercial space, hotels, parkland and community infrastructure.

Trackside Gardens sits separately to the recently proposed Cox Place Precinct, a five-building stage comprising around 1,100 residences, two build-to-rent buildings, two build-to-sell towers, retail, office space, and a hotel overlooking the racetrack. Together, the projects continue to accelerate housing delivery across the precinct.

<img alt="First look: Hamton expands Moonee Valley Park masterplan with 512-home Trackside Gardens precinct" data-entity-type="file" data-entity-uuid="5fc1941e-52d3-41c6-abc4-0f13fe8ae5ea" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/DA%20Edits%20%281%29.png?VersionId=7qwRHq5dcvXWNot2hNOgoQhN2GIWudNK" />

Designed by <a href="https://www.apartments.com.au/architects/dko-architecture">DKO Architecture</a> with landscape architecture by Tract, Trackside Gardens has been conceived as a botanical-style residential precinct prioritising canopy planting, communal green space, and vertical landscaping.

“The architectural vision for the proposed development centres around buildings in a botanical park setting that champions the important role of nature,” the planning submission states.

“The proposal incorporates principles of biophilic design, with landscape and environmentally sustainable development influencing the ultimate design response of the buildings and prioritising the ground plane to ensure a high amenity for both occupants and visitors.”&nbsp;

Trackside Gardens will deliver 512 apartments across the three buildings, alongside 518 basement car spaces and 523 bicycle spaces. Around 20 per cent affordable housing is proposed across the broader North East Precinct, equating to around 158 dwellings.&nbsp;

The affordable housing component will be concentrated within the Wilson East building, while the remaining apartments are expected to be delivered as build-to-sell residences.

Trackside Gardens has been designed around Hamton’s Nature Based Cities initiative, founded by Executive Chair Paul Hameister OAM in partnership with the University of Melbourne, Urbis, Ark Resources and Tract. The initiative promotes integrating higher-density urban development with significant biodiversity, tree canopy and landscape outcomes.

<img alt="First look: Hamton expands Moonee Valley Park masterplan with 512-home Trackside Gardens precinct" data-entity-type="file" data-entity-uuid="89353449-7b3c-42fd-8fd8-8bf64a5ef80f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_4.png?VersionId=X8jRt0P2L7fIWjLhfX6gPknXToXIBeLj" />

A comprehensive landscape strategy would introduce deep soil planting, vertical greening, communal gardens, and new pedestrian links throughout the site.

Planning documents state the development is targeting a 5 Star Green Star Buildings rating, a 7.5-star average NatHERS rating, and “Exemplary” Nature Based Cities certification.&nbsp;

The proposal joins an expanding pipeline of approved and proposed buildings within Moonee Valley Park, including the recently launched Eveline apartments and the approved Grandstand North and South towers.

Hamton has increasingly focused on precinct-scale, nature-led communities across Melbourne’s middle-ring suburbs, with projects spanning Hawthorn, Kew, and Moonee Ponds.

Hampton unveils Trackside Gardens, latest stage of $3 billion Moonee Valley Park masterplan

The Paul Gedoun-led <a href="https://www.apartments.com.au/developers/ss-projects">S&amp;S Group</a> has achieved another milestone in its $1 billion transformation of Rainbow Bay on the southern Gold Coast with the completion of the company’s third project in four years, the $160 million <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a> residences.

Delivered by <a href="https://www.apartments.com.au/builders/hutchinson-builders">Hutchinson Builders</a> and designed by <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker Architects</a>, Esprit buyers have now moved into the 94 apartments across two interconnected buildings at 217-227 Boundary Street.

The successful settlement of Esprit marks another astounding chapter in the S&amp;S story, which launched its highly successful Flow apartments three years ago and created its own ultra-luxury branded fingerprint on an area craving new luxury residences.

Most early purchasers have secured gains of well over $1 million since the project launched in 2021.&nbsp;

[smartcode_project:default project_id=102921 project_image_fid=172129]

S&amp;S Projects Founding Director Paul Gedoun said the completion of Esprit reflects sustained demand for premium apartments in tightly held coastal locations.&nbsp; 
&nbsp;&nbsp; &nbsp; 
“Esprit has attracted buyers seeking a combination of quality design, considered amenity and a location that is becoming increasingly difficult to replicate,” said Gedoun.

“We identified some years ago that Rainbow Bay is a unique market where supply of luxury residences is limited, and we see the settlements in Esprit further underpinning this thinking - that for both owner-occupiers and investors.”&nbsp;

[smartcode_project:default project_id=102921 project_image_fid=172174]

A key feature of the development is ‘Club Esprit’, a 1,000sqm residents-only rooftop level combining wellness and recreation, believed to be a first for the Gold Coast, and which is fast becoming a signature of the S&amp;S brand.

Positioned to capture views across Snapper Rocks, Rainbow Bay and the Tweed River, the rooftop includes a 25-metre lap pool, gym, yoga lawn, sauna and steam facilities, ice bath, private dining spaces, outdoor cinema and landscaped areas for residents.&nbsp;

<a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a> Director Jayde Pezet, who led the sales campaign for Esprit and S&amp;S’s Flow and Awaken apartments, said the project’s performance reflects both the strength of the product and the depth of demand for premium apartments on the southern Gold Coast.&nbsp;

“In some cases, we’ve seen values double since launch, which is a clear reflection of how tightly held Rainbow Bay has become and the level of demand for well-executed projects in this market,” said Pezet.&nbsp;

“Buyers recognised early what S&amp;S Projects was delivering here, and that conviction has been rewarded as the project has progressed towards completion.”&nbsp;

[smartcode_project:default project_id=102921 project_image_fid=214819]

Esprit offers a mix of two- three and four-bedroom apartments and sits within walking distance of the beachfront, cafés and local amenities, reinforcing its appeal as both a lifestyle and investment destination.

The project is the third completed by S&amp;S Projects in Rainbow Bay, following Flow Residences and Awaken Residences, which together have contributed to the suburb’s emergence as one of the Gold Coast’s most sought-after coastal pockets. &nbsp;

S&amp;S Projects is continuing its investment in the area with Radia, a $215 million development currently under construction.&nbsp;

[smartcode_project:default project_id=102921 project_image_fid=172175]

Gedoun said the completion of Esprit signals continued confidence in the southern Gold Coast market.&nbsp;

“We’ve seen strong interest in well-located, high-quality apartments, particularly in areas where future development opportunities are limited."

“That’s been a key factor in the performance of Esprit and the broader Rainbow Bay market”.

[smartcode_project_cta:default project_id=102921]

Owners move in as Esprit completes at Rainbow Bay

Few developers can boast a portfolio across South East Queensland's luxury markets quite like <a href="https://www.apartments.com.au/developers/mosaic-property-group">Mosaic Property Group</a>.

The builder-developer, founded in 2004 by Managing Director Brook Monahan, has projects in planning, on the market, and under construction, from Burleigh Heads and Broadbeach to Kangaroo Point and South Brisbane.

With a pipeline exceeding $2 billion, Mosaic remains highly selective when it comes to development sites, having spent years refining its strategy around feasibility research and product planning. The group is set to continue growing into 2026 and beyond.

In Brisbane, Mosaic currently has three projects in the market. It is in the final release stage at <a href="https://www.apartments.com.au/new-apartments/the-bedford-by-mosaic-16-30-prospect-street-kangaroo-point-qld-4169">The Bedford</a> in Kangaroo Point, which is approaching complete sellout ahead of its late 2027 completion.

[smartcode_project:default project_id=134792 project_image_fid=328123]

Designed in collaboration with <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, The Bedford comprises 128 two- and three-bedroom residences. A selection of ultra-luxury Masterpiece Series Skyhomes, positioned across the top levels, offer expansive floor plans and sweeping views of the river and city.

High-end inclusions, such as natural stone benchtops, bespoke cabinetry, and Miele appliances, feature throughout all apartments, alongside the Rooftop Recreation &amp; Retreat Sky Terrace. This includes a resort-style pool with sun deck and loungers, spa, cold plunge pool, sauna, steam room, private dining room with a full kitchen, residents' lounge, multiple barbeque and relaxation zones, an outdoor viewing deck, and landscaped gardens with water features, all oriented to sweeping city and river views.

A gym with indoor and outdoor zones, and a golf simulator, further enhances recreational choice within the building.

[smartcode_project:default project_id=134792 project_image_fid=328119]

A defining feature of the development is its integrated mixed-use component, which will deliver Kangaroo Point's first major supermarket, alongside a café and liquor store, bringing long-awaited convenience to the peninsula.

Monahan says The Bedford represents the culmination of a near-decade-long journey, after first identifying the A-grade Prospect Street site in 2016. While they came close to acquiring it at the time, the site was ultimately purchased by Woolworths' development arm, Fabcot. The opportunity resurfaced in 2024 when the site, vacant for nearly three decades, was brought back to market.

Monahan says Mosaic projects often begin years before any formal plans are drawn. Their new South Brisbane development is no exception, with the site first earmarked in 2018.

"We aren't opportunistic," Monahan says. "Every site purchase is carefully considered. As seen with Kangaroo Point and South Brisbane, it can take years to eventuate. There are sites we're looking at now that we may not secure for several years."

[smartcode_project:default project_id=141711 project_image_fid=353495]

A similar story unfolded at <a href="https://www.apartments.com.au/new-apartments/the-carter-by-mosaic-77-linton-street-kangaroo-point-qld-4169">The Carter</a> in Kangaroo Point, opposite The Gabba. Like The Bedford, it is also approaching sellout of its 125 two- and three-bedroom apartments. The majority of sales are attributed to returning customers and referrals, with a balanced mix of investors and a strong majority of owner-occupiers.

BDA Architecture was again engaged to design the 22-storey building, which will feature a suite of wellness and lifestyle amenities, including a golf simulator and cinema, a commercial-grade gym, and a rooftop recreation level with a pool, steam room, sauna, cold plunge, teppanyaki bar, private dining spaces, and landscaped terraces.

Construction is on track for completion in mid-2027.

[smartcode_project:default project_id=151614 project_image_fid=362759]

Mosaic's latest offering is its most ambitious yet, boasting a rare, north-facing riverfront position on Montague Road in South Brisbane.

<a href="https://www.apartments.com.au/new-apartments/the-riversdale-by-mosaic-south-brisbane-91-montague-road-south-brisbane-qld-4101">The Riversdale by Mosaic</a> is a 39-storey tower comprising just over 200 residences and Masterpiece Series Sky Homes. Designed in partnership with Bureau Proberts, it will feature nearly 3,000 sqm of genuine, internationally benchmarked six-star, hotel-style amenities, including a wellness precinct, pool, gym, massage and treatment rooms, cinema, golf simulator, and extensive outdoor dining areas across a two-level rooftop deck.

Early works are underway, with full construction expected to commence in the second half of 2026, and an anticipated late 2029 completion.

[smartcode_project:default project_id=151614 project_image_fid=362759]

Since 2012 alone, Mosaic has completed more than $2 billion in projects and is set to deliver another $2 billion worth of developments, comprising hundreds of luxury apartments, each defined by Mosaic's signature standards of quality, detail, and delivery.

"We never arrive, there is no finish line," says Monahan. "Our ambition is to keep evolving what luxury means, creating design- and lifestyle-led residences in incredible locations, places people genuinely aspire to and want to live, homes that are loved deeply and endure long beyond their moment."

Mosaic's Midas Touch

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> (Urban) has broken ground at Keira Place, its new major mixed-use residential precinct in the heart of Wollongong CBD.

Held at 120-122 Smith Street, the groundbreaking marked the commencement of construction on Stage 1 of <a href="https://www.apartments.com.au/new-apartments/keira-place-120-122-smith-street-wollongong-nsw-2500">Keira Place</a>, with the opening of the new display suite. 
&nbsp; 
Keira Place is a State Significant Development that will deliver new housing supply, affordable homes and inclusive living options within walking distance of Wollongong’s CBD, coastline, transport, hospital and education precincts.

[smartcode_project:default project_id=144442 project_image_fid=369868] 
&nbsp; 
Stage 1 is now under construction and will deliver 150 apartments across two residential buildings, including 27 affordable housing apartments and 18 specialist disability accommodation dwellings, along with activated ground-floor retail and commercial space. 
&nbsp; 
Urban Co-CEO Patrick Elias said the groundbreaking represented a significant milestone for Wollongong and reflected Urban’s long-term commitment to regional cities.

“Today’s groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong’s city centre,” Elias said. 
&nbsp; 
“Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection.”

[smartcode_project:default project_id=144442 project_image_fid=369869] 
&nbsp; 
Hon. Paul Scully MP, Minister for Planning and Public Spaces, Member for Wollongong said Keira Place is exactly the kind of development Wollongong needs – delivering new homes close to transport, employment and services, while supporting the continued growth and renewal of the CBD.

"This project reflects the Minns Labor Government's commitment to increasing housing supply in well-located areas." 
&nbsp; 
Wollongong Lord Mayor Cr Tania Brown said Keira Place would deliver lasting community benefits for the city. 
&nbsp; 
"Keira Place is a welcome addition to Wollongong's CBD delivering new housing, affordable homes and activated street-level spaces that will benefit our community for years to come," Brown said. 
&nbsp; 
"Urban Property Group's investment reflects the confidence that quality developers have in Wollongong's future, and I look forward to seeing this precinct come to life."

[smartcode_project:default project_id=144442 project_image_fid=369867] 
&nbsp; 
Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a>, with interiors by <a href="https://www.apartments.com.au/interior-designers/dko">DKO,</a> Keira Place prioritises liveability and long-term performance, with landscaped shared spaces, generous apartment layouts and a pedestrian-friendly streetscape along Smith Street. 
&nbsp; 
Residents will have access to landscaped podium areas, communal rooftop amenities with views to Mount Keira and the Wollongong skyline, and convenient ground-level retail.

The development will have 10-year Latent Defects Insurance by Resilience Insurance.

[smartcode_project_cta:default project_id=144442]

Groundbreaking marks start of construction at Keira Place in Wollongong CBD

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

<html><body>
Centuria Property Funds announced it has sold its commercial office tower in Brisbane’s Spring Hill for $38.7 million to Sentinel Property Group.
The <a href="https://www.realcommercial.com.au/property-offices-qld-brisbane+city-502102890" target="_blank">200 Creek Street</a> A-grade building has 10 stories and is a prominent office tower in the northern precinct of the CBD. It had been expected to fetch around $40 million.
The sale was managed by Peter Court and Mike Walsh from CBRE and Seb Turnbull and Luke Billiau at JLL.
Jason Huljich, CEO of Unlisted Property at Centuria, said, “We purchased the property in 2011, and since then we have carried out a series of upgrades and refurbishments designed to make the building more appealing to tenants. As a result, the property was taken to market with an occupancy rate of over 95%, with a weighted average lease expiry of almost four years, which made it particularly attractive to buyers.” 
It has nearly 7,603 sqm of net lettable area spread over three ground floor tenancies and nine upper levels of office accommodation. 
The property is close to the Central train station and just outside the Golden Triangle.
Huljich added that the tower was well-located from a potential re-development perspective, as a result of the planning provisions included within Brisbane City Plan 2014 and the proposed Draft Spring Hill Neighbourhood Plan.
He concluded by saying that he foresees good opportunities for commercial property investors in 2017. 
“Looking forward into 2017, we are confident there will be some good opportunities in the major metropolitan markets - in particular Sydney and Melbourne, although we are also looking carefully at our options in Brisbane and Canberra. 
“Our investment strategy has always been primarily asset-driven, which means we are open to all markets and properties where we see the potential to buy well, add value and achieve strong long term returns for our investors,” said Huljich. 
</body></html>

jonathanchancellor-7SQnKwU6yx

Centuria divests from office tower in Brisbane CBD for $38.7 million

<html><body>
Broken Hill is the cheapest place to purchase a house in New South Wales, according to Investar’s latest report.
The property investment firm says the average price of a house in Broken Hill is $102,000.
This is followed by Wellington with $139,500 and Coonamble with $140,000.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="69">
Suburb
</td>
<td valign="top" width="57">
Postcode
</td>
<td valign="top" width="60">
Bedrooms
</td>
<td valign="top" width="117">
Current median price
</td>
</tr>
<tr>
<td valign="top" width="69">
Broken Hill
</td>
<td valign="top" width="57">
2880
</td>
<td valign="top" width="60">
2
</td>
<td valign="top" width="117">
$102,000
</td>
</tr>
<tr>
<td valign="top" width="69">
Wellington
</td>
<td valign="top" width="57">
2820
</td>
<td valign="top" width="60">
2
</td>
<td valign="top" width="117">
$139,500
</td>
</tr>
<tr>
<td valign="top" width="69">
Coonamble
</td>
<td valign="top" width="57">
2829
</td>
<td valign="top" width="60">
3
</td>
<td valign="top" width="117">
$140,000
</td>
</tr>
<tr>
<td valign="top" width="69">
Deniliquin
</td>
<td valign="top" width="57">
2710
</td>
<td valign="top" width="60">
2
</td>
<td valign="top" width="117">
$149,000
</td>
</tr>
<tr>
<td valign="top" width="69">
Cowra
</td>
<td valign="top" width="57">
2794
</td>
<td valign="top" width="60">
2
</td>
<td valign="top" width="117">
$159,000
</td>
</tr>
<tr>
<td valign="top" width="69">
Junee
</td>
<td valign="top" width="57">
2663
</td>
<td valign="top" width="60">
2
</td>
<td valign="top" width="117">
$159,000
</td>
</tr>
</tbody></table>
A two bedroom home at <a href="https://www.realestate.com.au/property-house-nsw-broken+hill-124282206">325 Wandoo Street</a> in Broken Hill (above) is listed for sale for $108,000 through LJ Hooker.
A two bedroom home at <a href="https://www.realestate.com.au/property-house-nsw-broken+hill-123876202">218 Cornish Street</a> (below) is listed for sale for $107,000. It hit the market at $170,000 in late 2015.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/11/218%20Cornish%20Street.jpg" alt="">
A house at <a href="https://www.realestate.com.au/sold/property-house-nsw-broken+hill-122329398" target="_blank">140 Bromide Street</a> (below) sold for $107,000 having last traded for $100,000 in 2014, showing 2.9 percent annual price growth.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/20/140%20Bromide%20Street.jpg" alt="">
A two bedroom home at <a href="https://www.realestate.com.au/sold/property-house-nsw-broken+hill-124304338" target="_blank">54 Thomas Street</a> (below) was recently sold for $130,000. Set on over 1,000 sqm, the home last sold for $37,000 in 2006.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/20/54%20Thomas%20Street.jpg" alt="">
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j.ballantyne1990-6AQqhLzZaK

Where $102,000 can buy you a home in NSW: Investar

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The median dwelling price in regional New South Wales is $405,000, up from $330,000 five years ago, according the December 2016 Housing Affordability Report from CoreLogic.
The median dwelling value across regional NSW now costs 6.6 times the median annual household income, according to CoreLogic. 
REGIONAL NSW
<a href="https://www.propertyobserver.com.au/images/2017/01/20/Screen%20Shot%202017-01-20%20at%2012.49.11%20PM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/20/Screen%20Shot%202017-01-20%20at%2012.49.11%20PM.png" alt="">
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Median dwelling price in regional New South Wales now $405,000: CoreLogic

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<div>GUEST OBSERVER</div>
<div> </div>
<div>I recently wrote here how it looked as though new home finance had shaped into quite a neat double top formation.</div>
<div> </div>
<div>In November, finance for new owner-occupier purchases increased a bit, but overall the trendline does suggest that a second peak is forming. </div>
<a href="https://www.propertyobserver.com.au/images/2017/01/23/A1.jpg" target="_blank">Click to enlarge</a>
<div class="separator"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/23/A1.jpg" alt=""></div>
 The slight rebound ties in with the rebound in new home sales in the month, previously noted <a href="https://petewargent.blogspot.co.uk/2017/01/new-home-sales-rebound" target="_blank">here</a>. Mainly investors buying new It's often said that investors mainly invest in established housing, with charts produced to prove it. 
<div>Of course, with the total dwelling stock only increasing by less than 2 per cent over the year to September 2016 to 9.76 million, it stands to reason that most investors will buy established - there just aren't that many new properties in any given year. </div>
<div> </div>
<div>I have been more interested to know what percentage of the new housing stock was purchased by owner-occupiers, but nobody I have asked seems to know (or even care about) the answer.</div>
<div> </div>
<div>The housing finance figures show that owner-occupiers financed the construction of only 68,200 homes and the purchase of just 31,490 dwellings. </div>
<div> </div>
<div>What the housing finance figures don't capture is that some owner-occupier buyers of new homes are cash buyers. But nevertheless, it's clear that largely the buyers of new dwellings are investors, albeit many of them from overseas.</div>
<div> </div>
<div>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>. </div>
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pwargent-M4siyDbqQY

New housing finance is topping out: Pete Wargent

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Yes, those two words that keep trending every day on the 24-hour news cycle for 365 days each year – housing affordability.
So why can’t anyone come up with a logical explanation on how to fix this ever-growing Australian curse? Well first, nobody is really drilling down to find the precise definition and what will lead to the likely cure and allow me to tell you that massive new high density construction in the major cities is not going to fix the problem.
Sydney is a prime example although first we need to pin point a year when housing affordability really started to change for the worse and for me that year would be 1990 which is when the Australian economy embarked on its unprecedented 25 years of economic growth.
Yes house prices boomed in 1987 to 1989 which really was Sydney’s last massive housing boom which then was brought crashing down with the recession of the early 1990’s. In the late 1980’s our population was not really going anywhere, for example in Mosman in 1987 Cremorne Girls’ High School closed its doors to then see it acquired by SCEGGS Redlands.
In 1989, Balmoral Beach Infants’ School was closed and mysteriously sold to Queenwood Girls’ School the night before the site was due to go to public tender. Beauty Point Public School, Middle Harbour Primary School, Mosman Primary School and Mosman High School all were facing closure as attendance records were well below the Department of Education acceptable levels for operation requirements.
Today, all these schools are at maximum attendance levels. The closure of schools over this period was happening all over NSW – it was not an isolated event.
Back then property prices in Mosman were ten to fifteen times lower than where they find themselves today. The cash rate was sitting at 17.00 to 17.50 per cent on 23 January 1990 where today it sits at 1.50 per cent.
 
The “Baby Boomers” born the decade after World War II (now roughly aged 47 – 65) were all jumping into that family tradition of buying real estate. The problem here is that the strong concentration of the boomers all wanted to live in the Sydney CBD – which remains the same patterns that we see today. The missing link here in this housing affordability discussion is that transport infrastructure was frozen to the extent that 25 years later despite a massive upswing in our population we are still using the same archaic transport infrastructure.
For the past 25 years, our elected politicians have all been caught up in a transport infrastructure brain freeze where sadly today there is no big picture for Sydney, although we could name an abundance of other major cities around the world who have successfully addressed growing populations with transport infrastructure.
This explains exactly why we now have raging property prices today, which certainly would not be the case if we had a transport infrastructure where a 200-kilometre radius around Sydney was inter connected with state of the art fast train services. It really should not be that difficult to pinpoint the problem. Although it is very clear why so many have extreme difficulties when attempting to define housing affordability and what needs to be done to correct these huge problems facing so many Australians.
Exorbitant stamp duties payable on the purchases of properties have played a major role in seeing record low stock levels across Sydney, although there is another part of this mystery puzzle that keeps sailing under our property radars. Look again at the baby boomers who would be Australia’s largest property owners in the home ownership and investment portfolios. They are astute businesspeople who know that they will not get any returns with cash sitting in the bank where we now have the lowest cash rate on record. In recent years, they have been enjoying huge capital gains on their principle place of residence, so they have held – off selling for most obvious reasons.
This in turn has significantly impacted the supply side of the equation where such collaborative actions have driven prices higher, and in all probability this will continue in 2017. Although having said that all eyes will be on Trump, Brexit and how Europe reacts together with the goings – on in China and Russia. Of course, we can’t ignore this week’s unemployment rate which hit 5.8 per cent being the worst calendar year result since 2013.
It is hard to see the Reserve Bank of Australia lowering the cash rate further from the present 1.50 per cent so it would be fair to suggest that we are at the lowest possible rates.
So, in 2017, I will be closely watching the baby boomers simply because at the first sight of severe head – winds they will be first to cash – up which in turn would see stock levels increase significantly. In the meantime, we just sit back and observe the property market machinations with great interest.
Next week, NSW will appoint its seventh premier in 12 years – what does that tell you? No doubt the allergy to economic reform will remain in isolation.
ROBERT SIMEON is a director of <a href="https://www.rwm.com.au/" target="_blank" title="RWM" rel="nofollow">Richardson Wrench Mosman and Neutral Bay</a> and has been selling residential real estate in Sydney since 1985. 
He has also been writing real estate blog <a href="https://www.rwm.com.au/news/" target="_blank" title="Virtual Realty News" rel="nofollow">Virtual Realty News</a> since 2000.
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robertsimeon-hRNTwJyXkQ

Housing affordability and the ever-growing Australian curse: Robert Simeon

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Broadwater in Western Australia's Busselton figured on CoreLogic's 2016 top 10 list for units that showed the biggest 12-month change. 
Even though the list was dominated by Sydney suburbs, Broadwater (postcode 6280) squeezed into the list at number nine with a median unit value $282,755 and percentage change of 22.6 percent, according to CoreLogic's Best of the Best 2016 report that lists the top suburbs in various categories. 
Hunters Hill topped the list with a median value change of 45.8 percent over 12 months and a median value of $1.16 million. 
The report's data was for the 12 months up to September 2016. 
Broadwater reported just the 12 unit sales in the period. The suburb's dwelling composition included 3 percent units, according to ABS Census 2011 data.
<a href="https://www.propertyobserver.com.au/images/2017/01/11/Screen%20Shot%202017-01-11%20at%209.40.46%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/11/Screen%20Shot%202017-01-11%20at%209.40.46%20AM.png" alt="">
We found the units that fetched the maximum and minimum prices in 2016 from RP Data. 
The highest sale we found on RP Data in 2016 was a five-bedroom unit at 18/605 Bussell Highway Broadwater, WA, 6280 which sold in November 2016 for $1.45 million. There was a multi-sale previously in 2014 for $13,194,093, according to RP Data.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/20/BroadwaterMax.jpg" alt="">
The minimum selling price for a unit which we found on RP Data was a one-bedroom unit at <a href="https://www.realestate.com.au/sold/property-house-wa-broadwater-116656127" target="_blank">57/11 Holgate Road Broadwater, WA, 6280</a> that changed hands for $70,000 in August 2016 through Harcourts Busselton.
The property was first listed in January 2014 and spent 1114 days on the market, according to RP Data.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/20/BroadwaterMin.jpg" alt="">
We also looked up some sales around the median price with sales history, but found very few in 2016 in that range.
A three-bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-wa-broadwater-122124094" target="_blank">39/14 Little Colin Street Broadwater, WA, 6280</a> sold for $225,000 in August 2016. It was on the market for 156 days with a last listed price of $280,000. The unit previously changed hands in 2005 for $147,400, according to RP Data. This works out to an annual change in value of about 3.9 percent.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/17/CoreLogicBroadwater1.jpg" alt="">
A unit at 57/535 Bussell Highway Broadwater, WA, 6280 sold for $170,000 in April 2016 and had previously exchanged hands for $165,000 in 2014, according to RP Data. 
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/17/CoreLogicBroadwater2.jpg" alt="">
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Broadwater near Busselton is WA's only property star

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While Sydney suburbs dominated CoreLogic’s top 10 list that looked at the biggest change in median values for units in the 12 months to September 2016, Melbourne too figured prominently with Carrum at number six.
Carrum (postcode 3197) had a median unit price of $552,017 with a change of 26.3 percent over the same period, according to CoreLogic’s Best of the Best 2016 report. There were a 80 deals during the period.
<a href="https://www.propertyobserver.com.au/images/2017/01/11/Screen%20Shot%202017-01-11%20at%209.40.46%20AM.png" target="_blank" style="font-size: 12.16px;">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/11/Screen%20Shot%202017-01-11%20at%209.40.46%20AM.png" alt="">
Property Observer looked up some sales around the median price.
A two-bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-vic-carrum-122706622" target="_blank">2/13 True Avenue, </a><a href="https://www.realestate.com.au/sold/property-unit-vic-carrum-122706622" target="_blank">Carrum, Vic 3197</a> sold for $550,000 in June 2016 through Harcourts. It previously sold in 2015 for $400,000, according to RP Data, reflecting a change in value of 37.5 percent in just over a year.
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/16/Carrum2.jpg" alt="">
A three-bedroom unit at <a href="https://www.realestate.com.au/sold/property-apartment-vic-carrum-121649046" target="_blank" style="font-size: 12.16px;">7/36 Melaluca, Carrum, Vic 3197</a> sold for $540,000 in 2016 after being on the market for 603 days, according to RP Data. Its last listed price was $598,000, according to RP Data. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/16/Carrum.jpg" alt="">
Melbourne's only other entrant on the list was Keysborough. 
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Carrum ranked second best price growth suburb for units in Melbourne in 2016

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Mosman is the most expensive suburb in Sydney to currently buy a house in an active market, according to Investar’s latest report.
The property investment firm says that Mosman’s median house price increased by 28 percent last year to $4,250,000.
This is followed by Bronte with $2,950,000 and Killara with $2,850,000.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="106">
Suburb
</td>
<td valign="top" width="55">
Postcode
</td>
<td valign="top" width="60">
Bedrooms
</td>
<td valign="top" width="117">
Current median price
</td>
</tr>
<tr>
<td valign="top" width="106">
Mosman
</td>
<td valign="top" width="55">
2088
</td>
<td valign="top" width="60">
5
</td>
<td valign="top" width="117">
$4,250,000
</td>
</tr>
<tr>
<td valign="top" width="106">
Bronte
</td>
<td valign="top" width="55">
2024
</td>
<td valign="top" width="60">
4
</td>
<td valign="top" width="117">
$2,950,000
</td>
</tr>
<tr>
<td valign="top" width="106">
Killara
</td>
<td valign="top" width="55">
2071
</td>
<td valign="top" width="60">
5
</td>
<td valign="top" width="117">
$2,850,000
</td>
</tr>
<tr>
<td valign="top" width="106">
Roseville
</td>
<td valign="top" width="55">
2069
</td>
<td valign="top" width="60">
5
</td>
<td valign="top" width="117">
$2,700,000
</td>
</tr>
<tr>
<td valign="top" width="106">
Seaforth
</td>
<td valign="top" width="55">
2092
</td>
<td valign="top" width="60">
5
</td>
<td valign="top" width="117">
$2,550,000
</td>
</tr>
<tr>
<td valign="top" width="106">
Turramurra
</td>
<td valign="top" width="55">
2074
</td>
<td valign="top" width="60">
5
</td>
<td valign="top" width="117">
$2,500,000
</td>
</tr>
</tbody></table>
A five bedroom home at <a href="https://www.realestate.com.au/sold/property-house-nsw-mosman-122579750" target="_blank">35 Upper Almora Street</a> (above) was sold recently for $4,620,000.
Similarly a five bedroom home at <a href="https://www.realestate.com.au/sold/property-house-nsw-mosman-122679478" target="_blank">12 Carrington Avenue</a> (below) was sold for $4,700,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/09/12%20Carrington%20Avenue.jpg" alt="">
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Mosman ranks as most expensive Sydney surburb median: Investar

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Housing affordability in NSW is at an all time low as most regions of NSW has a mid to high price to income ratio.
Ryde, the inner south west and Sydney's eastern suburb among the least affordable locations based on income, according to a CoreLogic study.
<a href="https://www.propertyobserver.com.au/images/2017/01/18/NSW%20Table.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/18/NSW%20Table.jpg" alt="">
CoreLogic has produced a heatmap that pinpoints the regions with the highest price to income ratios.
<a href="https://www.propertyobserver.com.au/images/2017/01/18/NSW%20Graph.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/18/NSW%20Graph.jpg" alt="">
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Sydney's Ryde among the least affordable NSW housing: CoreLogic

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<div style="text-align: left;" align="center">Building firm Built has been chosen to renovate Melbourne''s T&amp;G Building at 161 Collins Street.</div>
<div style="text-align: left;" align="center"> </div>
<div style="text-align: left;" align="center">
<div>Completed in 1928, the T&amp;G Building has 43,000 square metres of A-Grade commercial space across ten levels.</div>
<div> </div>
<div>Built intends refurbish the office floors for better design and shared spaces, end-of-trip facilities and is targeting a 4.5 star NABERS Energy rating. The building will have two entrances -  Collins Street and Ramsden Place.</div>
</div>
<div style="text-align: left;" align="center"> </div>
<div><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/19/700_collins1.jpg" alt=""></div>
<div> </div>
<div>
<div>Brett Mason, Built’s managing director said “We are thrilled to be working with Pembroke Real Estate on the redevelopment of the T&amp;G Building, and know that this will be another impressive and sought after property once complete.</div>
<div> </div>
<div>“We look forward to again showcasing our experience in complex live environments refurbishments with sustainable design on this high profile office and retail project.”</div>
</div>
<div>
<div> </div>
<div>The refurbishment of the building will begin in the first quarter of 2017 with construction completed by early 2018.</div>
</div>
<div> </div>
<div>Built was awarded the contract following a competitive process that included four leading national construction companies. Although the other contenders were very high quality, Built was chosen upon strength of team and experience. </div>
<div><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/19/700_collins2.jpg" alt=""></div>
<div> </div>
<div>Pembroke Real Estate Vice President and Head of Australia, Matthew Knight, said Built were chosen due to their given their proven ability to deliver high quality office and retail spaces within a heritage context.  </div>
<div> </div>
<div>“We have an established relationship with Built through our 20 Martin Place development in Sydney, which we are looking forward to continuing as work gets underway at the T&amp;G Building.”</div>
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