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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Pellicano and Perri Projects have announced $190m in sales across the first three buildings at the $600m masterplanned Woolloongabba precinct, in Brisbane's South City Square. 
Construction of the first two sold out towers is moving ahead with basement excavation of the third building starting soon.
Nando Pellicano, Pellicano managing director,  said they have just sold the 370th apartment from a total of 398 apartments across the first three residential buildings, including 80 percent of apartments in the latest third release.
“We’re also 12 months ahead of the original construction program schedule," he said.
"This success indicates a stable market in which buyers are showing a preference for well-planned, amenity- rich developments of a high architectural standard." 
David Scalzo, Perri Projects’ managing director,  said Woolloongabba has undergone a period of intense gentrification in recent years and South City Square is set to become a key part of this process, delivering a truly liveable, productive and sustainable community which has been designed with the future in mind.”
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When complete, the precinct will feature seven architecturally designed buildings – six residential towers and one 5-star hotel.
South City Square is located on the corner of Logan Road and Deshon Street, positioned less than a three-minute walk from the Gabba and a seven-minute drive from the CBD.
For more information <a href="https://www.southcitysq.com.au%20" target="_blank">click here</a>.
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jonathanchancellor-7SQnKwU6yx

South City Square announces $190m in sales

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A service station and car wash in Marsden, south of Brisbane, has been sold for $4.49 million to a Melbourne-based investor through Ray White Commercial.
The Freedom Service Station site at 502 Browns Plains Road is leased for $313,000 per annum, and the yield worked out to almost 7 per cent.
It was sold through an offer to purchase campaign and the deal was struck by Tony Grbcic of Ray White Commercial.
“The location was seen as a big attraction to many buyers as well as the fact it is next door to a recently developed Woolworths supermarket,” Grbcic said.
The service station is on a land area of 7,181 sqm with frontage to Browns Plans Road.
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Freedom service station site near Brisbane sold for $4.49 million

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Brisbane home values have fallen by 0.9 percent over the past three months and are 3.9 percent higher over the past year according to CoreLogic.
CoreLogic's Housing and Economic Chart Pack for August noted over the past five years, Brisbane home values have increased by a total of 12.9 percent.
According to the August residential market report from analyst firm Herron Todd white, this issue with the Brisbane property market is that while there is a sizeable gap in property values between Brisbane and Sydney/ Melbourne, job numbers are down and our property prices have remained relatively uneventful. 
"Interstate migration has been in negative territory over the past 12 months to two years and while inner city blue-chip property has seen attractive gains, mid- priced, mid-distance suburbs have seen their homes remain fairly steady in value," HTW noted.
<a href="/images/2016/08/10/Screen%20Shot%202016-08-10%20at%201.44.28%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/08/10/Screen%20Shot%202016-08-10%20at%201.44.28%20PM.png" alt="">
"If you travel further a eld to the high-rent fringes of our capital, then these markets are even softer.
"When we do start to see numbers of residents increase, the rising tide floats all boats. Given the relatively small size of the Brisbane property market, everyone gets a boost, although we traditionally see prices rise fastest in those suburbs close to town rst with our pebble-in-the-pond approach becoming rmly established over the past few cycles now.
"As far as we can tell, there’s no great interstate rush to Queensland as yet, and while we continue to be a steady, solid performer compared to other property markets in the nation, not many are predicting runaway price growth in the near future."
 
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Brisbane home values fall 0.9 percent over the past three months: CoreLogic

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Leasing activity in the Brisbane CBD office market grew nearly 30 percent in the 12 months to June 2016, and the CBD now comprises around 2.27 million square metres of lettable space, according to Savills research.
Two new prime grade office buildings (180 Brisbane and 480 Queen St) were added to the stock recently.
Of the total lettable space, Premium Grade accounts for around 11 percent of office space. A Grade quality offers 41 percent of space and is now the largest category, while B Grade accounts for 36 percent. C and D Grades offer the balance 13 percent.
Savills' CBD Office Market Briefing for the second quarter of 2016 has identified 117,437 square metres of leasing activity (&gt; 500 sq m) in the Brisbane CBD in the 12 months to June 2016, up 27 per cent from a year earlier but down on the five year average (123,357 square metres). The majority of these leases (nearly 60 per cent of space leased) were in the Uptown precinct.
The Brisbane CBD office leasing market looks to have turned a corner with 2016 showing encouraging signs of improved tenant demand. Competitive rents and incentive packages on offer are continuing to attract smaller businesses from the Fringe and Suburban precincts of metropolitan Brisbane.
The Queensland State Government has been quite active in the take up of space in the CBD, which is boosting overall business confidence. With 1 William Street nearing completion some government agencies have started to review their space requirements and taking up addtional space around the CBD.
Overall leasing activity in the Brisbane CBD is trending upwards with direct leases almost double that recorded 12 months ago. Of the 117,437 square metres of leased space, 86 per cent were direct leases, followed by sublease deals accounting for 7 per cent for the year ending June 2016.
Renewals accounted for 6,150 square metres or 5 percent of reported leases for the year.
The competitive rental environment continues to see increased demand for A Grade stock, while secondary stock also continues to attract tenants with a number undergoing refurbishments improving the overall amenity the building. 127 Creek Street is one such example of a B Grade building that has undergone a major refurbishment which included transforming full floors into small suites to accommodate demand from smaller businesses moving to the CBD.
<a href="/images/2016/08/05/BrisbaneCBD.png" target="_blank">Click to enlarge</a>
 <img src="/images/2016/08/05/BrisbaneCBD.png" alt="">
While Deloitte’s predict soft employment growth over 2016, tenant demand from businesses relocating to the CBD will likely contribute to absorption levels.
Latest figures on total absorption will not be available until the Property Council release their Office Market Report in August however Savills Prime Full Floor availability report suggests approximately 32,000 square metres of prime office space has been filled since the start of 2016.
Demand for office space continues to come from varied sources such as child care, health, education and incubator businesses as well as an expanding State Government.
Of the 118,937 square metres leased in Brisbane CBD (&gt;500 sq m) in the last 12 months, the ‘Government &amp; Community’ sector was the dominant sector, leasing 26 percent of the stock, or 31,170 square metres.
<a href="/images/2016/08/05/BrisbaneCBDchart.png" target="_blank">Click to enlarge</a>
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Compared to 12 months ago, the tenant profile of reported leases has changed. The ‘Government &amp; Community’ sector, which has typically held a large share of the market, businesses involved in the ‘Education &amp; Training’, and ‘Healthcare’ sectors are increasing their take up of space in the CBD, while the ‘IT &amp; Communications’ sector is also beginning to show increased activity.
The largest number of transactions however was in the ‘Property &amp; Business services’ sector which recorded 21 transactions.
Of the 31,170 square metres of space leased to the ‘Govt &amp; Community’ sector, 55 per cent was taken by the Queensland State Government.
‘IT &amp; Communication’ recorded 14,242 square metres of leased space for the 12 months ending June. At 12 per cent of total reported leases, this is the highest level of activity in over ten years. Historically, this sector has accounted for less than five per cent of office leasing activity in the Brisbane CBD. SMS Management &amp; Technology are one such firm who secured 1,230 square metres in 259 Queen Street, while Red Hat renewed their space over four levels in 193 North Quay.
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prateek24-ezbwHMbNAk

Brisbane CBD office leasing market turns corner, tenant demand improves: Savills

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The REIQ June quarter data has revealed inner-city dwelling vacancy rate has hit 3.7 percent, but the middle ring has tightened a fraction, while most other markets, including regional centres, have improved. 
For the first time, the REIQ is able to provide a breakdown between houses and apartments in most markets.
The data has revealed that the apartment vacancy rate in the 0-5km ring of Brisbane is weak, at 3.7 per cent, but the middle ring, 5-20km ring, is healthy at 2.7 per cent. 
The vacancy rate for houses in the 0-5km ring is 3.4 percent and in the middle ring is tight at 1.8 percent. 
<a href="/images/2016/08/03/Screen%20Shot%202016-08-03%20at%2010.48.16%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/08/03/Screen%20Shot%202016-08-03%20at%2010.48.16%20AM.png" alt="">
REIQ CEO Antonia Mercorella said this new data provided greater clarity around the house and apartment markets. 
“One of the most commonly asked questions around the inner city property market is regarding a perceived oversupply in the apartment market and now we have a more detailed survey in order to provide more information and more data to help us answer this question,” she said.
“Brisbane’s inner city vacancy rate for the June quarter for apartments in 3.7 per cent and while the REIQ classes this as just outside the healthy range of 2.5 per cent to 3.5 per cent, it’s important to remember that recent projects coming online have not yet been absorbed by the inner city population growth.
"With major projects, such as Queens Wharf and Howard Smith Wharves, creating thousands of jobs over the next few years in Brisbane's inner city we are confident demand for housing will continue to grow. 
“We are seeing steady levels of supply and equally steady levels of demand for inner-city apartments and we expect vacancy rates will hover around these levels for some time to come,” she said.  
Redcliffe has tightened from 2.4 per cent to 1.4 per cent, which is consistent with a long-term trend of hovering between 2.0 per cent and 1.5 per cent. 
Regional centres
The weak regional centres of Gladstone, Rockhampton, Mackay and Townsville all showed improvements. 
Gladstone has tightened from 11.3 per cent to 10.2 per cent and the REIQ sees this market as relatively consistent for the past three quarters.
“While the vacancy rate is high, the good news is that it has not worsened in three quarters so we’re optimistic that the bottom of the Gladstone market has been met and this market is now stabilising,” Ms Mercorella said. 
The Rockhampton vacancy rate continues to hover around six per cent, falling from 6.9 per cent in the March quarter to 6.5 per cent in the June quarter. 
“These tiny movements should not be overanalysed, Ms Mercorella said. “What this essentially means is the market is holding steady.”
“Mackay has fallen slightly from 8.1 per cent to 7.7 per cent and this represents a steadily tightening trend over the past seven quarters, which we’re cautiously optimistic will continue,” Ms Mercorella said. 
Mackay’s vacancy rate peaked at 9.8 per cent in December 2014 and since then had fallen steadily to reach 7.7 per cent in the June 2016 quarter. 
“Local agents tell us that this market is showing good signs of improvement and we’re hopeful this market is looking at a brighter prognosis for the rest of the year.”
The Townsville market vacancy rate fell from six per cent to 5.7 per cent and this is the second consecutive fall for this centre. 
“Our agents in Townsville feel strongly that the market is performing reasonably well and with two quarters of falling vacancy rates they are confident this is the start of a stabilisation trend. 
“We don’t expect it will return to 2013 levels of 3.5 per cent vacancy rate in the near future, but we think further tightening in the next quarter is a realistic expectation,” Ms Mercorella said. 
The only unexpected result was Bundaberg’s lift from 5.2 per cent to 6.3 per cent. 
“The selling market is holding steady in Bundaberg with the median house price at $276,000. 
“Local agents are reporting strong interest from pre-retirees in southern states who are buying now while conditions are good with the intention of renting for another few years until they are ready to retire into the property themselves,” Ms Mercorella said. 
“It’s this activity that has possibly boosted the level of stock in the rental pool and added a few vacancies to the data. 
“We expect this to normalise over the next few quarters and the rental market to contract again soon,” Ms Mercorella said. 
Areas in the southeast corner of the state that have consistently performed well over the past few quarters have continued to perform strongly. 
Tourism centres
“The Cairns rental market is tightening further and this will put pressure on weekly rents as stock levels become scarce,” Ms Mercorella said. 
“The Cairns vacancy rate has contracted for the fourth quarter in a row, dropping to 1.9 per cent from 2.1 per cent in the March quarter. 
“This is a tight rental market and the sales market for houses and apartments is also going ahead in leaps and bounds – a very exciting time to be in Cairns!” Ms Mercorella said. 
Whitsunday has dropped from 10 per cent to six per cent, which is a significant improvement. Local agents report some construction projects and improved tourism numbers are creating jobs and attracting new residents who are taking up rental accommodation. 
The Gold Coast and the Sunshine Coast continue to be tight rental markets, both slightly tightening since last quarter, from 1.5 per cent to 1.4 per cent. 
“With significant dwelling construction taking place on the Gold Coast we expect to see some easing of conditions in the medium term future, however for the foreseeable short term, rental conditions will remain tight,” Ms Mercorella said. 
“The Sunshine Coast market is also tight, and with little new construction slated we expect this to continue for some time to come.”
<a href="/images/2016/08/03/Screen%20Shot%202016-08-03%20at%2011.55.11%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/08/03/Screen%20Shot%202016-08-03%20at%2011.55.11%20AM.png" alt="">
The tightest rental markets are Caloundra and Maroochy with just one per cent vacancy rate and the highest is Livingstone Shire (Yeppoon) with 12.3 per cent. 
 “Overall, there has been more good news than bad in this vacancy rate report and we’re optimistic that the state is moving towards healthier rates across the board,” Ms Mercorella said.
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Inner Brisbane vacancy rate hits 3.7 percent: REIQ

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The month of June saw more than $6 million in residential sales in Brisbane's Ecco Ripley masterplanned community, a total of 19 transactions for house and land packages and land-only sales in the $500 million Sekisui House development in Ripley Valley.
Ecco Ripley state sales manager Scott Blaney said Ecco Ripley is already a thriving community with over 500 residents now living here or with their homes under construction. 
"Sekisui House expected sales to accelerate further with the first home buyer grant having risen to $20,000 on July 1," he said.
“It makes our already affordable, quality offering here at Ecco Ripley even more accessible and attractive for first-time buyers.
“The town centre will become the commercial and social hub of the region as all of the surrounding communities and developments will feed into it.
“It will offer a major regional shopping centre, a transit centre, health and education facilities, cafes, restaurants, parks and community facilities to cater for this region’s projected population of 120,000 people over the next 20 years.”
Buyers at Ecco Ripley presently can choose from duplex, Fit &amp; Finished homes, house and land packages and land-only options.
Land lots are currently available from $158,000 with house-and-land packages, including new duplexes available from  $325,000.
For more information <a href="https://www.eccoripley.com.au" target="_blank">click here</a> or contact 1800 RIPLEY (741 593) for more.
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$6 million in home sales on Ecco Ripley, the Brisbane valley project by Sekisui

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Mason, a brand new five storey residential building in Macgregor, 12 kilometres from the Brisbane CBD, has hit the market.
Comprising 27 one, two and three bedroom apartments, the units start from $359,000.
Designed by Tim Stewart Architects and developer by Brisbane based developer Position Developments, the building is set to enhance the streetscape with its smart exterior.
Position Developments development manager Marvin D'souza says Macgregor is a thriving urban location and is attracting a mix of young professionals and families.
"Young purchasers are tending to gravitate towards city fringe suburbs, with affordability, access to education facilities and public transport, employment, and local infrastructure proving to be key motivators," he said. 
"Price growth in higher density areas has left many inner city locations out of reach for young professionals, families and investors, which is pushing buyers towards more affordable suburbs. 
"With more than $1.4 billion of current and future local infrastructure investment, and a projected 11,000 jobs in the catchment by 2031, Macgregor represents a strong investment opportunity. 
"Mason gives buyers the chance to secure a brand new property in the mid $400,000’s without having to sacrifice dwelling space or proximity to local conveniences."
The apartments range between 64 sqm and 187 sqm and features open plan designs, full galley kitchens and a balcony or terrace area.
The three bedroom apartments offer large 87 sqm terrace with north-east aspect.
Mason also features shared recreational areas and a spacious rooftop terrace with views of Mt Gravatt.
Buyers can choose between two colour schemes, with stone benchtops, feature cabinetry with LED lighting, generous and cleverly concealed storage spaces and built-in wardrobes in each apartment. 
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New boutique apartments launched at Macgregor

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Frasers Property Australia is to release a limited number of one, two and three bedroom apartments as part of its $900 million Hamilton Reach development in Brisbane's inner north.
<img src="/images/2016/07/28/Screen%20Shot%202016-07-28%20at%2011.19.22%20AM.png" alt="" width="556" height="377">
The apartments, in the Riverlight development, feature 1700sqm of landscaped gardens, a 20 metre Olympic edge lap pool, barbecue, sun deck and gymnasium overlooking the Brisbane River and Royal Queensland Golf Club. 
<img src="/images/2016/07/28/Screen%20Shot%202016-07-28%20at%2011.19.01%20AM.png" alt="" width="579" height="363">
The development also includes an exclusive dining room and boathouse.
Cameron Leggatt, general manager residential Queensland, Frasers Property, said since 2011, we’ve achieved more than $240 million in sales and transformed an area into one of the most desirable neighbourhoods in South East Queensland.
<img src="/images/2016/07/28/Screen%20Shot%202016-07-28%20at%2011.19.10%20AM.png" alt="">
The project’s one bedroom + multipurpose room and two bedroom apartments will be priced from $420,000 and $452,500 respectively, while three bedroom apartments will start at $622,500.
For more information, <a href="https://www.frasersproperty.com.au/QLD/Hamilton-Reach" target="_blank">click here</a>.
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More apartments at Brisbane's Riverfront, Hamilton Reach released

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An 1890 Ascot trophy home with classical Colonial architecture has just fetched $3.45 million.
Last traded for $455,000 in 1991, 17 Beatrice Terrace is set on 1249 sqm has six bedrooms, three bathroom and two kitchens.
It's surrounded by wraparound verandahs which overlook the lush landscaped gardens, entertaining deck with built-in barbecue and swimming pool.
The private master bedroom offers its own study, walk in wardrobe and ensuite.
Dwight Ferguson and Alexander Shean at Ray White Ascot secured the sale.
 
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Ascot trophy sells for $3.45 million

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A large, ten-bedroom property in Brisbane's Red Hill on more than one acre of land has been listed for $4,200,000.
Built in 1988, the 4,283 square metre, three-level home has the potential to house multiple families or be rezoned for townhouses.
Seven of the ten bedrooms are double size, there are four bathrooms, one which includes a spa tub, a 90,000 litre pool, a two-car garage and a rainwater tank.
Fruit and ornamental trees line the expansive yard.
The house is listed on <a href="https://www.realestate.com.au/property-house-qld-red+hill-122802250" target="_blank">realestate.com.au</a> by the property owner.
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