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>

Joel Robinson

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]

SIERA kicks off construction at Northcliffe tower Exhale

Local Little Bay residents, along with buyers from premium postcodes across Sydney’s affluent Eastern Suburbs, have dominated purchases in developer-builder Urban Property Group’s first Eastern Suburbs apartment development, <a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a>.

The $250 million coastal project, one of the first new developments in the area in several years, has proven particularly popular with downsizers, especially those from Coogee and Bondi. One Double Bay downsizer paid $4.7 million for a four-bedroom penthouse, setting a new local apartment price record in the process.

Buyers have been attracted to the combination of coastal tranquillity, premium design and amenity-rich neighbourhood living. The walkable village setting, along with proximity to three of Sydney’s leading golf courses, New South Wales Golf Club, St Michael’s Golf Club and The Coast Golf Club, has also been a key drawcard.

[smartcode_project:default project_id=112343 project_image_fid=352689]

Built across two low-rise buildings designed by <a href="https://www.apartments.com.au/architects/hill-thalis-architecture-urban-projects-pty-ltd">Hill Thalis</a> and set along a lush, landscaped green spine, designed by leading landscape architect <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>, ESTE Little Bay offers a collection of one, two, three and four-bedroom residences with interiors by Richards Stanisich.

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> Sales Director, Tom McIvor said the response to ESTE has been "nothing short of extraordinary."

“Buyers have been quick to recognise ESTE as a rare opportunity to invest in a coastal sanctuary that offers both seclusion and connectivity to the heart of Sydney,” McIvor said.

[smartcode_project:default project_id=112343 project_image_fid=352687]

<a href="https://www.apartments.com.au/project-marketer/srm-residential">SRM Residential</a> Senior Director, <a href="https://www.apartments.com.au/project-marketer/srm-residential">Clayton Ross</a> said the local market has responded incredibly well, driven by ESTE’s exceptional location and the rarity it offers.

“We’ve seen strong interest from a variety of buyer groups, all of whom are drawn to the exclusivity and quality of the build and construction by the 4.5-star iCIRT-rated builder / developer, Urban Property Group. There’s truly nothing else like it along Sydney’s coastline.”

[smartcode_project:default project_id=112343 project_image_fid=352690]

The project also includes robust buyer protections, including Resilience Insurance’s Latent Defects Insurance, providing 10 years of structural cover, and an independent iCIRT-rating of the developer.

“The iCIRT-rating adds another layer of confidence,” Ross added. “Buyers see it as a safeguard for their investment and their lifestyle.” A highlight of ESTE’s offering is its exclusive wellness amenities, including a heated rooftop infinity pool and outdoor heated spa, a state-of-the-art Technogym fitness centre, and a sauna.

<a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a> is topped out and is on track to complete towards the end of 2026, with residents moving in before Christmas.

[smartcode_project_cta:default project_id=112343]

Eastern Suburbs buyers snap up ESTE Little Bay apartments

Brisbane

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A hardware store on Brisbane's Bribie Island has been sold for $2.6 million through an expressions of interest campaign.
The Mitre 10 Hardware &amp; Garden Centre, 1-7 Victory Road, Bongaree, is a 1,246sq m retail building set on a 4,172sq m corner site.
It was sold by Glenn Conridge of Burgess Rawson and Jon Tyson of Savills.
Jon Tyson said the Mitre 10 property boasts a high-exposure main road location in Bribie Island’s dominant retail dominant retail precinct, which includes the adjoining Bribie Retail Centre, the adjacent Woolworths-anchored Bribie Island Shopping Centre, and a future proposed Coles Shopping Centre.
“The property has excellent exposure and convenient access due to its corner location and also provides ample grade level car parking,” he said.
“The sale demonstrates the continued high investor demand for well-located retail properties in high-growth locations, secured by major national tenants.”
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j.ballantyne1990-6AQqhLzZaK

Buyer nails down Mitre 10 property on Bribie Island

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One of the most significant retail assets on Brisbane’s bayside, the Horizon @ Wellington Point shopping centre, is being offered for sale by Ray White Commercial in conjunction with JLL.
The major investment opportunity at 685 Old Cleveland Road East, Wellington Point, is a fully tenanted shopping centre, which opened in December 2010.
It is anchored by an IGA Supermarket and 19 other retail and medical tenancies.
Horizon @ Wellington Point is a successful retail/medical complex which currently has 100% occupancy.
Offers close November 24 with Ray White Commercial Bayside agent Nathan Moore and JLL Retail Investment QLD’s Jacob Swan and Campbell Bowers.
The shopping centre returns net rental income of approximately $1.25 million per annum.
Swan said Horizon @ Wellington Point is situated on a land area of approximately 6,099 square metres with a local centre zoning from Redland City Council in an emerging growth centre of South East Queensland.
There is 2,616 square metres of nett lettable area in three buildings and prominent signage opportunities.
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Horizon @ Wellington Point shopping centre for sale

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Three properties in Milton owned by the proprietors of Toowong Milton Body Repairs have been sold to two buyers for a total of $9.5million in deals negotiated by JLL’s Christian Sandstrom and Sam Byrne together with Pat George and Philip O’Dwyer from Colliers International.
Two properties - 10 Crombie Street and 38 Cribb Street Milton – were sold for a combined $7.15million.
The 810sqm land parcel situated at 38 Cribb Street was sold to Hong Kong-based Golden Horse Group, the developer behind Icon Milton, a luxury 20 level apartment tower linked by landscaped sky bridges and a rooftop garden.
The property at 10 Crombie Street comprised 405sqm of land improved by a small office and warehouse building and was purchased to expand the group’s development further.
A third property also owned by Toowong Milton Body Repairs at 9 Railway Terrace was also sold to an adjoining private owner for $2.35million.
Toowong Body Repairs plan to relocate to a purpose fit building in a more traditional light industry setting.
Chris Manteit from Toowong Milton Body Repairs said, “We have operated from our Milton site for 40 years, successfully servicing the local and greater Brisbane areas. We will be sad to leave, though look to our future with excitement as we begin construction on our new ‘purpose built’ facility.  We believe this will strengthen our position in the market, and take our business to a new level.”
JLL’s Christian Sandstrom said the formal expressions of interest campaign fielded a wide range of enquiry.
“The offers for sale attracted both local and interstate groups with a particular focus from owner occupiers wanting to capitalise on the change from light industry to medium density residential and commercial development in the suburb,” he said.
“Other interested parties included private investors wanting to refurbish the buildings into alternate uses like bars, cafes and convenience retail; this is a strong reflection the area and of the diversification buyers are considering for the area.”
Located 1.5km from the CBD, Milton also has an established residential population across both low and high density development.
Milton is quickly transforming into a thriving inner-city precinct, fuelled by several mixed-use developments that are considered ‘game changers’ for the suburb – projects that will ignite the area’s population growth.
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Three Milton properties sold for $9.5million

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Floth Sustainable Building Consultants has beaten an impressive field, taking out the international World Green Building Council (WorldGBC) commercial award for Leadership in Sustainable Design and Performance.
Floth’s Brisbane-based headquarters, 69 Robertson Street won the award for its ability to generate 53 per cent fewer operational carbon emissions than a building built to regulation standards.
Floth Managing Director R. Glenn Ralph said the competition was extremely tough, but the win reflected the significant amount of work that went into the design of the building.
“We are particularly proud of winning this award as it embodies the engineering approach we apply to all projects and the quality of product we strive to deliver,” Mr Ralph said.
“We strongly believe that all developments in the built environment should not only be environmentally responsible, but must also be economically sustainable.
“The key learnings taken from the design and build of our HQ will now be applied to client’s projects to deliver even further on sustainable design and building performance outcomes.
“69 Robertson Street has achieved a number of firsts for us here in Australia, including the Green Building Council Australia’s first 6 Star Green Star – Design &amp; As Built v1.1 rating building.”
The Leadership in Sustainable Design and Performance Award is presented to green buildings that set new benchmarks for sustainability and design.
Floth Environmentally Sustainable Design (ESD) Principal Anthony Marklund said a number of sustainable features were integrated into the design.
“Our headquarters spans over three storeys with more than 1,000sqm of floor space, to offset our operational energy we have installed a roof-mounted solar photovoltaic system that offsets 28 per cent of operational energy generated by the building,” Mr Marklund said.
“Our goal was to also ensure we designed and delivered a zero carbon building, which has been achieved through the purchase and supply of 100 per cent GreenPower.”
Floth’s headquarters also operates a heat recovery variable refrigerant flow air conditioning system that is able to move heating or cooling from one part of the building to another as needed.
Floth has recently added a trio of Australian firsts to their repertoire of achievements with a Green Star Design and As Built v1.1 certified rating; a 6 star NABERS Indoor Environment rating and the first building in Australia that has formally adopted the Australian Sustainable Built Environment Council's (ASBEC) standard definition of a zero carbon building.
Floth Sustainable Building Consultants is one of Australia’s leading building services and engineering consultancy practices for more than 30 years.
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Accolades for Floth HQ at World Green building awards

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GUEST OBSERVER
The property market fundamentals of Australia’s biggest city council are as bent as a banana.
While rates of population growth continue to ease, the high volumes of new housing supply are absurd, and the situation with Brisbane jobs is not as rosy as the state government are trying to portray.
Whilst Brisbane City Council (BCC) has the highest population out of all of Australia’s 550 local government authorities, its population growth rate has come down a long way from the dizzy heights which it consistently produced throughout the noughties decade. Its 2015 growth rate of 1.4 per cent is now back in line with the national average.
<a href="/images/2016/10/18/Screen%20Shot%202016-10-18%20at%208.16.18%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/18/Screen%20Shot%202016-10-18%20at%208.16.18%20AM.png" alt="">
In spite of the distinct easing in population growth (housing demand) the rates of new housing supply have gone in the other direction, scaling record levels.
During the four years ending June 2010, BCC’s population increased by 85,313, thereby creating demand for an additional 32,809 dwellings (BCC has 2.6 people per household according to 2011 Census); 28,409 new dwellings were approved.
Contrast this to the most recent three years, additional housing demand was 17,285 (based on population growth of 51,804) yet a staggering 47,977 new dwellings were approved. As shown in Chart 2, things are completely out of whack.
84 per cent of approvals over the last three years were for attached dwellings. Obscene!
<a href="/images/2016/10/18/Screen%20Shot%202016-10-18%20at%208.17.48%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/18/Screen%20Shot%202016-10-18%20at%208.17.48%20AM.png" alt=""> 
In 2014 and 2015, most property pundits repeatedly predicted that Brisbane’s property market would follow in the footsteps of Sydney and Melbourne; often referring to a ‘knock-on effect’ and Brisbane’s more affordable housing as their so-called ‘research’. Conversely, Propertyology downgraded its outlook for Brisbane in early 2014, instead forecasting that Brisbane was likely to see only modest price growth unless something significant occurred to help turnaround Queensland’s disappointing economic performance.
Median property values subsequently increased in Brisbane by 4 percent (2014) and 4.3 percent (2015), well below Sydney (15.1 percent and 15.1 percent) and Melbourne (9.1 percent and 12.7 percent).
<a href="/images/2016/10/18/Screen%20Shot%202016-10-18%20at%208.18.47%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/18/Screen%20Shot%202016-10-18%20at%208.18.47%20AM.png" alt=""> 
On the surface, Greater-Brisbane’s unemployment rate of 4.9 percent [June 2016] looks very favourable compared to national and state averages of 5.8 percent and 6.3 percent, respectively. But, here’s the thing: a decline in Brisbane’s unemployment rate from 7.4 percent in February 2014 to the current 4.9 percent is totally at odds with the lack of confidence demonstrated by Brisbane business owners.
Where are all of these jobs that the Queensland state government continues to refer to in press release after press release since coming in to office in January 2014?
A close examination of the detail behind the employment data clearly illustrates that the economic reality is different to the broad-brush unemployment rate. According to official ABS data, the 46,921 extra jobs created in Queensland during the period February 2014 to May 2016 represents 9.1 per cent of jobs of the 517,333 jobs created nationally. Given that Queensland represents 20.3 per cent of Australia’s total population I’d say that banana-benders have been batting well below their weight!
<a href="/images/2016/10/18/Screen%20Shot%202016-10-18%20at%208.19.48%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/18/Screen%20Shot%202016-10-18%20at%208.19.48%20AM.png" alt=""> 
Further analysis of individual industry sectors suggests that Queensland’s economic engine has actually seized up. Of the 46,921 extra jobs created, public administration, health and education have collectively increased by 51,622 over the period. One can’t help but scratch their head and question why, with a significantly smaller population than New South Wales and Victoria, that Queensland added more jobs in the Public Administration sector (8,838 additional taxpayer-funded government jobs) than any other state.
Sixteen out of nineteen industry sectors collectively LOST 4,701 jobs.  
<a href="/images/2016/10/18/Screen%20Shot%202016-10-18%20at%208.21.10%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/18/Screen%20Shot%202016-10-18%20at%208.21.10%20AM.png" alt="" width="583" height="583">
The 25,300 jobs lost in Queensland’s mining industry will include plenty of white collar jobs in Brisbane’s CBD where, according to Property Council of Australia, commercial office vacancy rates rose to 16.9 per cent in August 2016.
The most compelling statistic is the 22,167 jobs lost in Queensland’s retail sector; cash register activity is one of the most reliable measurements of a community’s economic pulse. Job numbers in the Retail Trade sector have increased in every Australian state except Queensland.
New South Wales and Victoria’s impressive volume of jobs growth in retail trade reflects the confidence shown at auctions and open homes. On the other hand, property sales volumes in Brisbane City Council declined from an already modest level over the last twelve months (2.8 per cent fewer house sales and 17.2 percent fewer apartments).
<a href="/images/2016/10/18/Screen%20Shot%202016-10-18%20at%208.23.11%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/18/Screen%20Shot%202016-10-18%20at%208.23.11%20AM.png" alt="">
If Brisbane can get its act together, its property market does have potential. But, jobs and confidence are the key. Unlike New South Wales where an infrastructure boom is unfolding, the Queensland public voted against an asset sale proposal to fund new infrastructure projects. The Legacy Way tunnel and Moreton Bay Rail Link projects have recently been completed and there are very few new infrastructure projects in the pipeline.
Queensland’s third biggest employment sector, the 223,000 people construction industry, lost 8,095 jobs between February 2014 and May 2016 and, with an over-supply of housing already brewing, further construction industry job losses would have to be on the cards without several new infrastructure projects.
<a href="/images/2016/10/18/Screen%20Shot%202016-10-18%20at%208.24.06%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/18/Screen%20Shot%202016-10-18%20at%208.24.06%20AM.png" alt=""> 
Yes, property is much more affordable in Brisbane than in Sydney and Melbourne. But, Queensland’s interstate migration trend is (again) falling and few people will relocate without being exceptionally confident of their employment prospects. The under-performing economy is why Brisbane’s property market hasn’t found its way out of first gear.
And, the ridiculous volume of new housing supply may soon see that gear changed to neutral. Propertyology will continue to invest in locations across Australia where cash registers are ringing louder than Brisbane.
Simon Pressley is Managing Director of Propertyology, a REIA Hall Of Fame Inductee, property market analyst, accredited property investment adviser, and Buyer’s Agent. <a href="https://www.propertyology.com.au/more-than-a-buyers-agent/" target="_blank">Propertyology works exclusively with property investors</a> to purchase properties in strategically chosen locations all over Australia.
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jchancellor-FAypfDUnLy

Answers to Brisbane property market found in cash register:  Simon Pressley

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A retail space on Brisbane's Queen Street Mall has been listed for sale.
The property at <a href="https://www.realcommercial.com.au/property-retail-qld-brisbane+city-502068218" target="_blank">114 Queen Street </a>has a floor size of 564 sqm.
It has a $22 million asking price, which reflects a 5% plus yield.
It is leased to Flight Centre.
<img src="/images/2016/10/03/114%20Queen%20Street.jpg" alt="">
The property has a net income of $1,146,236 per annum with fixed annual increases of 5 percent.
It is located close to Brisbane's newest $3 billion landmark, Queens Wharf Casino Precinct development.
Billed as Australia's busiest mall which attracts over 27 million visitors each year.
It is being offered through CBRE Brisbane agents Tom O'Driscoll and Andrew Adnam.
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Chance to buy on Brisbane's Queen Street retail mall

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Brisbane has failed to reach investor expectations of a growing property market, according to Herron Todd White's (HTW) latest monthly market report.
The property advisory firm noted that investors were expecting Brisbane property prices to soar, however, it has failed to meet expectations.
"Good old Brisbane has seen the broad gamut of market activity from feast, to famine, to... “mehh”," the HTW report stated.
"Here we are in one of the most attractive, saleable and liveable cities on the continent... and we still haven’t seen our market firing strong right across the board.
"There have certainly been winners and losers but overall, average punters were expecting bigger value gains in the past four years.
"A lot of talk in 2013 was around Brisbane being ‘THE’ place to invest, but it’s generally failed to rise to expectations."
At present, HTW suggest there’s no doubt the strongest markets continue to be within 10 kilometres of the CBD.
"That’s a common theme here in Brisbane – stay close to the city centre and you won’t get hurt.
"There are a few reasons why you buy within a reasonable distance of the big smoke.
"Number one, this has traditionally been our most successful sector. In Brisbane, the closer in you are, the better your chances of consistent capital gains and ongoing tenancy.
"You do, however, need to be selective about property type and quality.
"The mantra must be whenever possible, choose detached housing in a decent location above all else.
"It will reduce the risk and improve your chances of success."
Herrod Todd White advises investors to be cautious about off-the-plan purchases and new units.
"As we’ve been saying for some time now – be very cautious about new units and off the plan purchases, particularly those designed to appeal to investor buyers. They are almost impossible to justify as a good choice in the current market.
"Another reason this inner zone is [Brisbane's] best? There’s no doubt that compared to Sydney and Melbourne, our property prices are an absolute steal. We’re regarded by many as the third big capital (apologies to Perth) so if you’re a transient investor focussing on between big cities and you’re looking for more property bang for your buck, it’s hard to ignore Brisbane and the suburbs closer to the centre."
Price points of appeal within this magic radius are broad. Any purchase between $500,000 and $1 million is sure to catch the eye of buyers – and most are looking to owner-occupier stock for solid investing.
HTW said the strongest interest comes from young professional couples as well as families who want to be in close proximity of schools, public transport and services.
"We also find once you go above the magic $1 million mark, the number of potential purchasers begin to decline significantly," the report observed.
Cheaper buy-ins for investors do tend to be in suburbs a bit further out. There are plenty of sub- $500,000 options in areas like Kingston, Slacks Creek and Caboolture and certainly tenant demand remains fairly strong, however you must still look for good land content with a detached home if you want to mitigate risk.
One example would be a five bedroom home at <a href="https://www.realestate.com.au/sold/property-house-qld-slacks+creek-123169834" target="_blank">74 Kana Crescent</a> (pictured above) that was recently sold for $509,500.
When talking famine market, it is in fact these further flung addresses that struggle most.
Property type is key to performance, with townhouses and units in outer suburbs are very slow to sell.
This is evident in areas such as Marsden and Kingston where there are a lot of established townhouses as well as a continual supply of new townhouses that are mainly sold to interstate investors.
This high level of supply is well and truly exceeding demand and turnover can be a bit retched at times.
There’s also quite a large price difference between a new townhouse and an older established townhouse – although the rental return on the older townhouse is comparatively strong.
The investor who feels they must look at attached housing a bit further out, should consider purchasing a discounted older townhouse that may need a bit of renovation rather than something brand spanking new, HTW advises.
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Brisbane property market disappointing investors: HTW

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Brisbane houses have rose to the second highest vacancy rates in the country ahead of Darwin, a new report has shown.
Brisbane's house vacancies rose to 2.6 percent in September, while Darin tightened to 2.1 percent, Domain Group's rental report revealed.
Both are still some way off Perth's 4.2 percent vacancy rate. 
Source: Domain Group
<table border="0"><tbody>
<tr>
<td>Capital City </td>
<td>Houses September 2016</td>
<td>Houses September 2015</td>
</tr>
<tr>
<td>Perth</td>
<td>4.2%</td>
<td>3.2%</td>
</tr>
<tr>
<td>Brisbane</td>
<td>2.6%</td>
<td>2.5%</td>
</tr>
<tr>
<td>Darwin</td>
<td>2.1%</td>
<td>2.6%</td>
</tr>
<tr>
<td>Sydney</td>
<td>2.0%</td>
<td>1.8%</td>
</tr>
<tr>
<td>Adelaide</td>
<td>1.8%</td>
<td>1.7%</td>
</tr>
<tr>
<td>Melbourne</td>
<td>1.5%</td>
<td>1.6%</td>
</tr>
<tr>
<td>Canberra</td>
<td>0.8%</td>
<td>1.2%</td>
</tr>
<tr>
<td>Hobart</td>
<td>0.6%</td>
<td>1.0%</td>
</tr>
<tr>
<td>
National Capital City
</td>
<td>2.3%</td>
<td>2.1%</td>
</tr>
</tbody></table>
Domain Group chief economist Andrew Wilson said Brisbane is a “tenant’s market”.
“The upwards bias of vacancy rates is really favouring tenants,” Dr Wilson said. 
“When compared to other capital cities, it’s clearly become one of the best cities for renters in the country.”
“One positive is the number of jobs this has created.”
Median rent prices remain flat at $400 per week, which Dr Wilson said was due to more first home buyers.
Median rental prices by capital city for houses: Source Domain Group
<table border="0"><tbody>
<tr>
<td>Capital City </td>
<td>Median House Rent September 2016</td>
<td>Median House Rent September 2015 </td>
</tr>
<tr>
<td>Darwin</td>
<td>$550</td>
<td>$590</td>
</tr>
<tr>
<td>Sydney</td>
<td>$530</td>
<td>$530</td>
</tr>
<tr>
<td>Canberra</td>
<td>$475</td>
<td>$450</td>
</tr>
<tr>
<td>Brisbane</td>
<td>$400</td>
<td>$400</td>
</tr>
<tr>
<td>Melbourne</td>
<td>$400</td>
<td>$390</td>
</tr>
<tr>
<td>Perth</td>
<td>$380</td>
<td>$420</td>
</tr>
<tr>
<td>Adelaide</td>
<td>$350</td>
<td>$350</td>
</tr>
<tr>
<td>Hobart</td>
<td>$330</td>
<td>$330</td>
</tr>
</tbody></table>
 
<div>“Brisbane has seen higher numbers of first home buyers and that has really taken pressure off rental demand,” he said.</div>
“Rents have been flat for some time now, and will likely continue into the foreseeable future. 
"But yields are high in Brisbane – in fact, highest of the mainland, which is attractive to investors.
"However, the issue is securing a tenant, and that’s the challenge.”
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Brisbane's house vacancy rates jump to second highest in the country

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A Brisbane-based private investor has paid $4,880,000 for the Plains Junction Shopping Centre in Browns Plains, in South East Queensland.
CBRE’s Michael Hedger and Joe Tynan negotiated the sale of the retail convenience centre, which is located in the heart of one of Brisbane’s strongest retailing precincts.
The 28 Browns Plains Road asset was sold on behalf of the long term owner – a Sydney investor who had owned the property for over 10 years. They had paid $3 million in 2004.
Mr Hedger said the centre had a strong national tenant profile with Westpac and Suncorp occupying over 80 percent of the building area, alongside major national brands Woolworths, Officeworks, BCF and McDonalds.
Mr Tynan said the Expressions of Interest campaign had attracted over 110 enquiries, with the strong buyer interest resulting in a tight sale yield of 6.3 percent.
The purchaser of Plains Junction Shopping Centre was represented by commercial buyers’ agent Damien Holliday from Prosper Group. 
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Brisbane shopping centre at Brown Plains Road sold

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A Brisbane pub asset that figures in the top 10 gaming hotels in Queensland is up for sale for an expected $30 million.
The hotel has hit the market amid a backdrop of high-profile hotel transactions in 2016, with the most recent being the Colombian Hotel in Sydney for about $20 million.
Ray White’s Andrew Jolliffe and CBRE's Glenn Price have been appointed to sell the large-format Acacia Ridge Hotel in Brisbane's South West Corridor. 
Joliffe has been instrumental in other prominent hotel deals in NSW such as Parramatta's $60 million Albion Hotel and The Colombian Hotel. 
According to him, market thirst for A grade freehold property such as the 18,450 sqm Acacia Ridge Tavern site remains unquenched. 
"We've seen the depth of the market tested several times this year in gateway cities across the Australian East Coast, and the almost invariable result has been that high quality assets which enjoy a confluence of both scale and opportunity remain compelling and commensurately sought after by well-informed capital,” said Jolliffe. 
Located at <a href="https://www.realcommercial.com.au/property-hotel+leisure-qld-acacia+ridge-501070147" target="_blank">386 Beaudesert Road</a> in the blue collar industrial precinct of Acacia Ridge, The Acacia Ridge Hotel has benefited from the expansion of surrounding residential suburbs including Sunny Bank, Sunny Bank Hills and the $600 million Cornerstone Living master plan development at Cooper Plains. 
<img src="/images/2016/10/04/Acacia3.jpg" alt="">
Sitting next to the hotel is the Acacia Ridge Intermodal Freight Terminal, which services rail and road freight from the broader Queensland logistics network.
CBRE's Price added that the major land size upon which the hotel is located would also provide an investor with ancillary mixed use, or wholesale alternative opportunities. 
The Acacia Ridge Hotel is regarded as one of the most sought after hotel properties in Queensland, and recently underwent a renovation. It has figured consistently in the state’s top 10 gaming hotels ranked by profit. 
It has 45 gaming machines, a large format drive-through bottle shop, bars and conference facilities as well as a 34-room accommodation centre.
The hotel will be sold through an expressions of interest process ending late October. It is expected to draw wide investor interest.
The Commonwealth Games in 2018 are an added boost, said Joliffe.
“We are bringing to the market a prime 18,740 sqm commercial property holding, set upon a major arterial road and which has historically generated significant annual profit.”
The hotel was bought by Sydney investors Peter Calligeros and Stephen Farley for $16 million in 2014, according to the Australian Financial Review.
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