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

Joel Robinson

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

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

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

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

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

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

Bottega House secures landmark riverfront site in St Lucia 

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

SIERA kicks off construction at Northcliffe tower Exhale

Brisbane

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Construction is underway on Brookfield Residential Properties’ Portside Wharf development, with Pinnacle, the riverfront apartment building, set to be completed by mid year.
<a href="https://www.pinnacleportside.com.au" target="_blank">Portside Wharf</a>'s Pinnacle spans 15 levels and has obtained $85 million worth of sales, now more than 65% sold with one penthouses, six river terraces, two three bedroom apartments and a mix of two bedroom apartments remaining. The two bedroom apartments are priced from $590,000.
Link will be complete in early-2015, with their 32 one bedroom apartments sold out for more than $13.5 million. Construction is currently at level four and the development features 522 square metres of retail space.
Regional director for Brookfield Residential Properties Lee Butterworth said that construction will now be focused on the external façade and landscaping.
"The buildings are quickly taking shape and buyers can see that the standard of build and fittings are top quality," he said.
"We have opened our first display in Pinnacle so buyers can experience first hand what it would be like to live directly on the river in a vibrant precinct like Portside Wharf.”
Pinnacle is the premier apartment building in the development, featuring a rooftop infinity pool, bbq and entertainment area, gym and onsite security.
"We expect sales will ramp up as construction nears completion and buyers realise the wait to move into their brand new apartment is quickly nearing the finish,” Butterworth said.
The river terraces include al fresco living and entertaining with terraces spanning up to 54 square metres. A number have private access to the wharf.
<img src="/images/2015/01/06/pinnacle-jan-6-two.jpg" alt="">
"The owner occupier market has really taken off and sales have ramped up as buyers look for a riverfront location with access to everything," he said.
"In terms of position, Portside Wharf is unmatched when it comes to accessibility to its retail plaza, as well as its proximity to the CBD, airport, the CityCat and motorways including direct access to Kingsford Smith Drive, which is set to become a six lane boulevard under new state government plans.”
Within the precinct, 35 retailers are now in residence.
"Our retail precinct continues to grow, with the current retail space almost completely occupied and more in the pipeline upon the completion of both Link and Pinnacle," he said.
"Portside Wharf offers a great mix of fine dining, cafes, beauty, entertainment, services and conveniences, including a Dendy Cinema, IGA supermarket, Ella Bache, barber shop and dentist.”
Apartment buildings Promenade, Loft, Infinity and Flare are already complete, with just one apartment in Promenade priced at $635,000 for a two bedroom, two bathroom option.
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jduke-EHk3XBmHkn

Pinnacle, Portside Wharf gearing up for mid-year completion

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The Commonwealth Bank of Australia will relocate its Brisbane headquarters to the 180 Brisbane office tower at 180 Ann Street.
The bank will lease 10,500 square metres in the <a href="https://www.180brisbane.com.au" target="_blank">Crone Partners-designed 34-storey tower</a> on an average 11-year term.
Contenders who missed out included Investa’s 259 Queen Street (formerly the Bank of Queensland headquarters), Grocon and DEXUS Property Group’s 480 Queen Street and Brookfield’s 240 Queen Street, which is where the CBA is ­currently mostly based.
The bank will leave three buildings to take up six floors at 180 Ann Street.
The Australian Financial Review advised the deal was extremely competitive, with an annual face rent around $700 per square metre and an incentive of more than $20 million.
Vacancies in the Queensland capital’s CBD hit 14.7% late last year, the highest level recorded by the Property Council since 1990.
The A-grade 59,100-square-metre tower with floor plates ranging from 1,678 square metres to 2,058 square metres is being developed by Daisho, the company headed by Japanese billionaire ­Katsumi Tada.
Knight Franks Campbell Tait and Graham Clarkson acted for Daisho, which has property holdings in excess of US$1 billion (A$1.23 billion).
Stuart Allison from Independent Corporate Property acted for CBA in the negotiation.
The Daisho Group portfolio includes:
<ul>
<li>192 Ann Street office building developed in 2000 and acquired by Daisho in 2001.</li>
<li>A 510 room hotel in Kuala Lumpur, Malaysia managed by the Hilton Group completed in 2004.</li>
<li>The AO retail complex in central Tokyo developed in March 2009.</li>
<li>The Park Hyatt Sydney, acquired in February 2008 and fully refurbished in 2011.</li>
<li>180 Brisbane, early works commenced February 2012, due for completion mid 2015. </li>
</ul>
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jchancellor-FAypfDUnLy

Daisho's 180 Brisbane secures the Commonwealth Bank

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Auction price secrecy in Queensland extends beyond their auctions.
Last weekend was the second batch of auction campaigns when estate agents could be fined for giving out pre-auction price estimates.
But the price details after the 167 auction offerings <a href="https://www.homepriceguide.com.au/saturday_auction_results/Brisbane.pdf" target="_blank">last</a> weekend on Sturday December 13 across Brisbane were still scant. 
Sadly, just the 54 results were reported to Australian Property Monitors in the Domain Group. There were just 17 actual prices, so full disclosure on 10% of the offerings.
The prices ranged from $270,000 for a three bedroom house at Archerfield to a $1,875,000 sale at 42 Birkalla Street, Bulimba (pictured above). The 17 results had just the one passed in price.
Last week, <a href="/news/qld/brisbane-property-price-secrecy-even-after-the-auctions">the first batch since the 1 December introduction by the Queensland Newman government</a>, had post-auction price transparency for only six of the 140 auction offerings across Brisbane.
So there was some improvement in disclosure, which can be the foundation for 2015 fuller disclosure.
Click to open in new window:
<a href="/images/2014/12/15/bris-dec-15-one.jpg" target="_blank"><img src="/images/2014/12/15/bris-dec-15-one.jpg" alt=""></a>
<a href="/images/2014/12/15/bris-dec-15-two.jpg" target="_blank"><img src="/images/2014/12/15/bris-dec-15-two.jpg" alt=""></a>
Source: Australian Property Monitors
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Auction price disclosure for just 10% of Brisbane weekend offerings

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There is no surprise investor activity is heavily concentrated within the capital city inner city unit market. But the latest charts from Cameron Kusher at CoreLogic RP Data provides insights into the elevated level of investor purchasing.  
There are many suburbs were investors represent 50% plus of apartment buyers. Melbourne has the highest levels of investor activity for units, followed by Brisbane, Adelaide and Sydney.
 The spread of house investors are not an issue, other than one location in Brisbane. 
<img class="aligncenter size-full wp-image-4047" src="https://blog.corelogic.com.au/wp-content/uploads/2014/11/Chart-7.jpg" alt="Chart 7" width="500" height="315">
Source: CoreLogic RP Data
As Kusher suggests, if many investors were to exit the market at a similar time in search of superior returns, that could have some serious repercussions for the inner city unit market and potentially the wider housing market too.
Investors own a staggering 89% of units in <a href="/news">Travancore</a>, the Melbourne suburb.
Their report noted the suburbs with the highest levels of investor apartment ownership are often those with significant and large developments so <a href="/news">Travancore</a>, ranked above <a href="/news">Kingsville</a>, <a href="/news">Carlton</a>, <a href="/news">Elwood</a>, <a href="/news">Notting Hill</a>, <a href="/news">Hawthorn</a> and <a href="/news">Melbourne</a>.
 Each of these areas has more than seven in 10 units owned by an investor.
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Melbourne's most risky property investor dominated suburbs

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For some time, Brisbane has been the focus of investors looking beyond Sydney and Melbourne for future growth and lower entry prices.
In fact, last month we saw that Brisbane has lagged somewhat behind these two capitals on the property cycle and is <a href="/expert-insights/investing/sydney-melbourne-and-brisbane-where-they-are-on-the-property-clock">expected to be in the upswing over the next few years</a>.
National Australia Bank has also suggested that <a href="/expert-insights/investing/brisbane-and-sydney-to-lead-2015-but-growth-to-lag-nab">Brisbane, along with Sydney, is set to lead in 2015, albeit with moderate growth</a>.
Observer Terry Ryder, however, <a href="/expert-insights/buying/brisbane-on-the-slippery-slope-to-oversupply">warns of a potential oversupply for some properties in Brisbane</a>.
<img src="/images/2014/11/24/bris%20nov%2024%20one.jpg" alt="">
<a href="https://whichrealestateagent.com.au" target="_blank">Source: Which Real Estate Agent</a>
{mijopolls 65}
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Infographic: Is it time for Brisbane property to take off?

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Brisbane's median unit price for the October quarter was $380,000, according to CoreLogic RP Data.
Earlier this year, some predicted the apartment market would display <a href="/news/qld/brisbane-apartment-market-on-the-rise-colliers">strong growth for 2014</a>. In the year to October, CoreLogic RP Data recorded 2.6% growth in Brisbane apartment values, placing it behind Sydney, Melbourne, Adelaide and Hobart's unit markets.
Brisbane's $380,000 median unit price is 1.2% down from the prior month's result, and 1.0% up for the quarter. Some, including observer Terry Ryder, argue the market <a href="/expert-insights/buying/brisbane-on-the-slippery-slope-to-oversupply">may soon be oversupplied</a>, leading to an excess of stock and depressing values.
Property Observer looks at recent sales to see just what $380,000 will buy you in Brisbane.
<ol>
<li>
<a href="https://www.realestate.com.au/property-unit-qld-moorooka-117330255" target="_blank">4/116 Chaucer Street, Moorooka</a> 
 <img src="/images/2014/11/25/1.jpg" alt="">
This Moorooka apartment sold for $372,000 late last month. The two bedroom, two bathroom unit is part of a six unit complex. There is an air-conditioned lounge, which opens to an undercover balcony. Both bedrooms include mirrored built in robes. The apartment comes with a single secure car space.
Price: $372,000
Bedrooms: Two
Drive to CBD: 14 minutes
</li>
<li>
<a href="https://www.realestate.com.au/property-apartment-qld-yeerongpilly-118043447" target="_blank">7/16 Wilkie St Yeerongpilly, Qld</a> <img src="/images/2014/11/25/2.jpg" alt=""> Buyers paid $376,000 for this two bedroom unit. Located in a seven-apartment complex built in 1994, the apartment occupies the entire top level. Both bedrooms include built in robes, there is an air conditioning unit in the living room and another in the main bedroom, and two secure undercover car spaces.
Price: $376,000
Bedrooms: Two
Drive to CBD: 11 minutes
</li>
<li>
<a href="https://www.realestate.com.au/property-unit-qld-woolloongabba-117595907" target="_blank">30/81 Annerley Road, Woolloongabba</a>
 <img src="/images/2014/11/25/3.jpg" alt="">
This dual level apartment, with 80 square metres of floor space, sold for $379,000. It has two bedrooms with built in robes, with the main bedroom including balcony access and an en suite. The carpet is newly laid and the apartment is freshly painted. Residents have access to the complex's swimming pool and gym. The apartment includes a lockup garage.
Price: $379,000
Bedrooms: Two
Drive to CBD: 5 minutes
</li>
<li>
<a href="https://www.realestate.com.au/property-unit-qld-taringa-117844987" target="_blank">3/38 Waverley Road, Taringa</a>
 <img src="/images/2014/11/25/4.jpg" alt="">
A two bedroom apartment in a complex of eight sold for $371,500 last week. It has built in robes in both bedrooms, one bathroom, an open plan living and dining area, and a balcony. The apartment comes with a lock up garage.
Price: $371,500
Bedrooms: Two
Drive to CBD: 10 minutes
</li>
<li>
<a href="https://www.realestate.com.au/property-unit-qld-taringa-117831363" target="_blank">67/35 Morrow Street, Taringa</a>
 <img src="/images/2014/11/25/5.jpg" alt="">
Vendors secured $383,000 for this two bedroom, two bathroom apartment earlier this month. The fully furnished apartment has new carpet, and both bedrooms include built in robes. The apartment, which has a secure car space, currently returns $496 per week in rent, representing a 6.7% rental yield.
Price: $383,000
Bedrooms: Two
Drive to CBD: 15 minutes
</li>
</ol>
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jrichardson-uRX5hFdKfN

What does a median-priced Brisbane apartment look like?

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Melbourne property developer Tim Gurner has sold 607 of the 651 apartments offered in the past 12 weeks at his Brisbane project, the $600 million FV project in Fortitude Valley.
Stage one, the Flatiron building, quickly sold so the second stage, Valley House, offering was brought forward.
“We have now sold in twelve weeks what we expected to achieve in 12 months,” Mr Gurner told The Australian Financial Review.
“We had two consecutive weeks where the team sold over 180 ­apartments per week, and many weeks where we have done between 50 to 100 deals.”
Owner-occupiers make up about 25%  of buyers in the Elenberg Fraser-designed GURNER project. About 12% have been sold offshore.
First home buyers have snapped up $360,000 plus apartments and downsizers have paid up to $1.8 million for penthouses.
The penthouses had sold for about $15,000 per square metre.
Stage three will be released early next year, around the time construction begins.
Featuring 810 one, two and three bedroom apartments, a 90 room 4.5 star hotel, 3,000 square metre residents-only private club and a ground floor retail precinct, the $600 million project is <a href="https://www.gurner.com.au" target="_blank" style="line-height: 1.3em;">GURNER’s first Brisbane development</a>.
<a href="https://www.gurner.com.au" target="_blank"><img src="/images/2014/10/2/GURN8201_FV_V03_Ext_Tower%201%20From%20Barry%20Parade.jpg" alt=""></a>
Images supplied.
The initial 185 one bedroom Flatiron apartments, from 50 square metres to 65 square metres, prices from $360,000 to $520,000.
For one of the 165 two-bedroom apartments, from 68 square metres to 81 square metres, you will be paying $575,000 to $780,000.
Lastly, four penthouse sized apartments from 125 square metres to 170 square metres are available from $1.45 million to $1.95 million.
The $2 million display suite is located at 147 Alfred Street, Fortitude Valley.
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Fortitude Valley's Flatiron, Brisbane strong off the plan sales

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A Woolloongabba development has secured 117 unconditional sales in three months, with developers Pellicano achieving record sales over the past quarter at the site.
<a href="https://www.trafalgarlane.com.au/" target="_blank">Trafalgar Lane</a>, Pellicano’s $85 million Woolloongabba development, was released in May this year and is now 90% sold.
The 20 level tower development has seen interest from owner occupiers, according to Pellicano Queensland development manager Michael Kent.
"Trafalgar Lane's sales success saw us meet our pre-sales target extremely quickly, particularly in this market, which allowed us to commence construction ahead of schedule," he said.
"There has been a mix of buyers with owner-occupiers very well represented due to the project's central location, just 1.5 kilometres from the Brisbane CBD,  the quality design and competitive price points.”
The remaining apartments are available from $412,500. In total the development includes 147 one, two and three bedroom apartments. A five level podium, with retail and commercial space, is also integrated into Trafalgar Lane.
<img src="/images/2014/11/20/woolloongabba-nov-20-two.jpg" alt="">
"The development's unique vantage point, directly across the road from The Gabba has proved to be an enormous drawcard, offering commanding views of the stadium, the CBD and the Brisbane River," Kent said.
"The apartments have been designed by the internationally acclaimed DBI Design, and apartments feature floor-to-ceiling windows to take in the views, with private, noise-protected balconies and refined interior detailing.
"They have been designed for the end user, featuring hand-selected fittings and finishes including wool blend carpet, fully vitrified floor tiles, stone benchtops with waterfall ends and feature lighting, along with high quality tapware, joinery and integrated fridge and dishwasher."
Construction is currently progressing on the site, having begun in July. Completion is expected in late-2015.
<img src="/images/2014/11/20/Hero%20Shot_Trafalgar.jpg" alt="">
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Pellicano's Woolloongabba, Queensland development secures record sales

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Brisbane’s inner city apartment market recorded a strong September quarter this year, but it’s the closing quarter of 2014 that’s expected to break sales records, according to a new report from Place Advisory.
The Place Advisory Inner City Apartment Market Report says that demand remains strong and while the September figure was below the June quarter, they predict demand will strengthen over December.
While five projects launched over September with a total of 727 new apartments, over the December quarter up to 14 projects with more than 2,200 apartments are expected to launch – the first time the end of year quarter has seen this much activity.
Over September the majority of the sales were one and two bedroom apartments, totalling $428 million in off the plan transactions. The unconditional sale price in Brisbane over the September quarter remained steady at $545,478 (weighted average), which sits 1% below June and 8% down on a year prior.
The 2014 year to date has seen 2,535 transactions. The majority of sales are under $550,000, with two bedroom apartments the most common seller.
New Farm, Newstead and Teneriffe saw the majority of sales over the three months – totalling 637. South Brisbane, West End and Kangaroo Point proved less active with 144.
Remaining apartments for sale (as of the end of September 2014):
<ul>
<li>1,634 (6.2 months market supply)</li>
<li>Inner North: 1,018</li>
<li>CBD: 369</li>
<li>Inner South: 529</li>
</ul>
Source: Place Advisory
“The September 2014 quarter saw a total of 785 unconditional sales across 56 inner Brisbane projects which is well above the long-term 10-year average of 343 sales per quarter,” Place Advisory’s director Lachlan Walker said.
“The Brisbane inner city apartment market is in a perfect position as we head into the last quarter of 2014 with high demand and more projects coming on to the market.”
Walker said that positive momentum is growing for owner occupiers and investors with the median apartment price substantially below those seen in Sydney and Melbourne, by 45% and 25% respectively.
“Brisbane provides an affordable substitute investment for our southern neighbours with a much greater propensity for growth. This is one of the key reasons Brisbane has had such strong interstate interest the past 12 months,” he said.
 “There is an old wives tale that Brisbane shuts down after Melbourne Cup. We are definitely not expecting that to be the case this year with the December period showing strong signs that we will have a great finish to 2014.”
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Brisbane inner city tipped to smash sales records in final quarter

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Former Prime Minister Kevin Rudd and his wife Therese Rein have officially listed their Brisbane home.
The Norman Crescent, Norman Park home is where they have lived since 1994. It comes with extra high ceilings, original hoop pine polished floors, original fretwork and stunning stained glass features.
Their Queensland home base will be Noosa.
Tim Altass Real Estate principal Tim Altass said the listing for<a href="https://www.timaltass.com/listings/residential_sale-296586-norman-park/" target="_blank"> the five-bedroom property</a>, with a wrap-around verandah, would be sold by tender.
The couple recently <a href="/news/kevin-rudd-and-therese-rein-sell-unfulfilled-brisbane-dream-home-site">sold their nearby intended building site</a>.
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