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 

<section data-scroll-anchor="false" data-testid="conversation-turn-6" data-turn="assistant" data-turn-id="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-2" data-turn-id-container="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-2" dir="auto">
<section data-scroll-anchor="false" data-testid="conversation-turn-2" data-turn="assistant" data-turn-id="request-WEB:5a5ab36c-8dd3-454c-b456-c501f22f0eb4-0" data-turn-id-container="request-WEB:5a5ab36c-8dd3-454c-b456-c501f22f0eb4-0" dir="auto">
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

Geelong

<html><body>
Investing in Geelong has been a trend that many are beginning to follow, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm took a look at the rental yields across the nation. 
The report notes that with Melbourne’s property market finally at ease leaving median house prices at an all-time high, Geelong has caught the eye of many investors for its value and unique growth opportunities.
Geelong boasts a number of the factors that make an area stick out as a place with high growth potential.
Some of these factors include large infrastructure projects currently underway, vacancy rates and rental yields that continue to increase and a population that is growing.
"In terms of yields, the vast majority of Geelong’s suburbs have a gross rental yield higher than that of the Melbourne median, which is 2.7%," the valuation firm said. 
Like Melbourne, Geelong also has its own array of estates being built around the city, with Armstrong Creek being an enticing new development with yields at 3.7%.
Geelong’s ongoing infrastructure advancements has lured a number of investors towards the town, the report noted. 
Just last year, an unexpectedly strong net rental yield led to investors from across the nation building an upscale 4.5 star apartment building with 110 apartments to be sold.
Each one of these apartments produced a net rental yield of between 6% and 8%, according to Core Logic.
"Demand for this type of development is high in Geelong because of the increasing numbers of overnight visitation, with a 15% spike in the year," the valuation firm said. 
In terms of residential areas, suburbs such as Bell Park, Belmont, Torquay and Curlewis are the ones to look out for.
"Curlewis in particular has performed in spectacular fashion over the past 12 months as it has seen median house prices increase in value by 13.23%," it said.
<a href="https://www.propertyobserver.com.au/images/2019/10/23/geelong%201.jpg" target="_blank">Click here</a> to enlarge:
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/10/23/geelong%201.jpg" alt="">
"To top things off, it has one of the highest yields amongst the entire district at just under 4%," the valuation firm stated. 
<a href="https://www.propertyobserver.com.au/images/2019/10/23/geelong%202.jpg" target="_blank">Click here</a> to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/10/23/geelong%202.jpg" alt="">
The 24-month growth in median house prices and sales numbers for Curlewis. Source: Core Logic.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Greater Geelong suburbs offer gross rental yields higher than Melbourne median: HTW residential 

<html><body>
The City of Greater Geelong has unveiled the design for the city’s new central administrative office.
Located at 137 Mercer Street it was designed by COX Architecture.
The City’s new office will bring together City staff from seven central Geelong offices.
Construction is expected to begin on the City’s Civic Precinct mid-2020, with project completion mid-2022.
The City and property fund manager and developer Quintessential Equity are partnering in the $200 million investment, with construction of the new Civic Precinct to reportedly create nearly 900 local jobs. 
An estimated 43% of construction costs will be sourced locally.
48% of the site will be dedicated to accessible public space as well as co-working spaces and retail and food tenancies.
<div class="page" title="Page 2">
<div class="layoutArea">
<div class="column">
"Our new Civic Precinct sets an exemplary standard for future office buildings in Geelong through the highest standards of sustainable design, activating street frontages and generating significant public space, and providing large, flexible floorplates designed for new ways of working," said Cr Bruce Harwood, the Mayor of Greater Geelong City.
</div>
</div>
</div>
The new office is also expected to achieve the highest standards of sustainable design with a 6 Star Green Star Design, and As-Built Rating as well as a 6 Star NABERS Energy Rating.
 
</body></html>

wdavis-8cCN98p7xp

The City of Greater Geelong unveils plans for new central administrative office

<html><body>
Geelong’s demographic profile continues to diversify, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm took look at what's bring new residents to residential markets, or conversely, driving them away. 
The report notes in 2011, the top five countries of birth for people in Geelong apart from Australia were England, Italy, New Zealand and Croatia.
In 2016, the structure of the top five countries of birth had changed with India taking fourth place in the chart and making up almost 1% of the total population of Geelong.
Those born in South-East, North-East Asia, Southern and Central Asia have increased significantly in numbers and percentage not only in Geelong but across Melbourne and Victoria as a result of overseas migration.
According to Australian census data, Geelong’s population is continually growing in size. 
Looking back on the last eight years of Geelong’s population change to 2016, the growth rate was very strong, ranging annually from 1% to 2%.
"Geelong is characterised by the recently revitalised Waterfront precinct and newer residential areas of Geelong further out of the city’s CBD," the valuation firm said. 
"Geelong is still affordable for buyers representing strong opportunities for investors and owner-occupiers."
Though the median house price for greater Geelong as at June 2019 was between $400,000 and $600,000, buyers could still get a near-new, three or four-bedroom house for close to $400,000.
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-lara-131503622" target="_blank">17 Celesta Road, Lara</a> (pictured below) has recently been sold for $406,000.
The home comprises three bedrooms, open plan kitchen, single garage, and landscaped front and backyards.
It's located five minutes away from Lara Shopping Village, the Centreway shopping strip, Lara library and Community Centre. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/9/26/17%20Celesta%20Road%20Lara%20.jpg" alt="">
Another example was a four bedroom family house at <a href="https://www.realestate.com.au/sold/property-house-vic-armstrong+creek-130780702" target="_blank">6 Chucklecreek Lane, Armstrong Creek </a>(pictured below) which was sold for $456,000.
The home comes with four bedrooms, kitchen with gas cooktop, remote double garage and split system cooling.
It's located walking distance to public transport, parks/reserves, The Village shopping centre and Armstrong Creek school.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/9/26/armstrong%20creek.jpg" alt="">
"The recent local infrastructure projects including an extension of railways, continuous improvement of Geelong’s activity centres together with Geelong based Deakin University community operations undoubtedly influence the growth of the local economy and stimulate potential property market participants."  
</body></html>

Geelong demographics shifting as migration boosts population: HTW residential 

<html><body><div title="Page 1">
<div>
<div>
Melbourne property developer and investment company, Up Property, has revealed plans for a new five level office building.
Its latest Geelong project at 181 Moorabool Street, is situated in the heart of the city's CBD.
Previously known as the Belcher Arcade, the plans reveal leasing opportunities ranging from 74 sqm to 2,884 sqm, with three street-facing retail tenancies below four levels of commercial office spaces.
The building was designed by Genton with a 4.5-star NABERS specification.
Registrations of interest are now open for the development through local Geelong real estate agency - Gartland Property.
Since purchasing its first property in Geelong back in 2004, Up Property has been heavily invested in this area.
It recently completed the regeneration of a number of other office and retail buildings.
These include 126-128 Little Malop Street, the new home of the Geelong Advertiser and Barwon Health, the historic pub turned popular gathering ground, The Inn Hotel, the recent refurbishment and transformation of retail showrooms at 107-123 High Street and the former 6.2-hectare CSIRO site in Belmont.
Office and retail space at 181 Moorabool Street development are available for lease now, with construction proposed to commence late 2019.
The development is located just one hour and 15 minutes to Melbourne by car and 52 minutes by train.
</div>
</div>
</div></body></html>

Up Property reveals plans for five level office building in Geelong CBD

<html><body>
Geelong has seen some significant growth over recent years, according to the latest Herron Todd White (HTW) residential report. 
"Looking back over our future predictions for 2019, it’s fair to say that Geelong’s property market has followed our initial thoughts in comparison to 2017 and 2018," the valuation firm said. 
"Although the growth cycle in most parts has come to an end, we are still not anticipating a significant decline in property prices compared to that seen in Melbourne and Sydney."
The report notes that properties it initially thought would be snapped up by investors are taking longer to sell, often with vendors having to meet market expectations.
The resulting effect is that days on market are now increasing with greater stock available.
"It is not all doom and gloom, however, with a good number of sales occurring throughout the region," the report noted.
Latest CoreLogic data reveals that Geelong had recorded the highest regional clearance rates with 45.5% of properties sold at auction, despite declining auction volumes.
Properties that represented good value for money either through affordability, location or recent renovation works and presented in prime condition appear to be selling above vendor expectations with multiple bidders.
According to the HTW report, one of the key surprises so far for 2019 has been at the top end of the market.
A number of high-end properties have been transacting throughout the Geelong region, both on and off the market.
"Initially, we predicted that this price point would stabilise and become stagnant due to tightening lending conditions as well as the cooler months slowing buyer enquiry, especially along the Surf Coast," HTW said. 
"However it appears that the top end is resilient and buyers are purchasing with confidence.
"Selling agents are reporting strong interest in properties north of one million dollars."
Examples of these include <a href="https://www.realestate.com.au/sold/property-house-vic-ocean+grove-129591562" target="_blank">91 Orton Street, Ocean Grove</a> (pictured below) –which sold in March 2019 for $6,3 million, according to RPData.
Positioned on a elevated double block, the four level house comes with six bedrooms,  open plan living, gourmet kitchen, rumpus rooms, cinema room, gym, and 20 metre pool plus waterslide. 
Other highlights include double glazing throughout, views to Cape Schanck and Geelong and solar panels.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/27/ocean%20grove%201.jpg" alt="">
<a href="https://www.realestate.com.au/sold/property-house-vic-newtown-130008218" target="_blank">188 Noble Street, Newtown</a> (pictured below) sold in February 2019 for $3.8 million, according to RPData. 
It comprises main bedroom with with ensuite, four further bedrooms, sixth bedroom or third living space, open plan rear living area and family room.
Additional features include hydronic heating, ducted cooling, architect designed gardens, open fire places and original timber ceilings.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/27/newtown.jpg" alt="">
</body></html>

Geelong recorded the highest regional clearance rates: HTW residential 

<html><body>
There are certainly opportunities in the current 2019 market to pay less than the last price.
But is there really such a thing as buying a bargain when it comes to property? And where are they?
This series of articles looks are specific examples of sale price or asking price falling. 
We take a look at where and if possible why this is happening.  
We came across this property for consideration.
A year on from a peak market purchase of a central Geelong property, vendors made a $57,000 loss.
Situated at <a href="https://www.realestate.com.au/property-house-vic-geelong-131241250">46 Bourke Crescent, Geelong</a>, the home previously sold for $780,000 in June 2018.
It sold at auction last month for $722,500.
Four bidders competed for the three-bedroom Victorian-era house 
<div class="wp-caption"><img class="size-full wp-image-487915" src="https://www.realestate.com.au/blog/images/1600x1600-fit,progressive/2019/06/22145813/capi_e575c6e0cb21b10a3b33768374beff68_be88f36d6cf7bde8f152f65eb5cf6dc1.jpeg" alt="" data-capiid="be88f36d6cf7bde8f152f65eb5cf6dc1"></div>
<div class="wp-caption"> </div>
<div class="wp-caption">The new owner plans to renovate 46 Bourke Crescent, Geelong. </div>
It passed in for $715,000 and sold immediately afterwards during negotiations with a local buyer.
McGrath, Geelong agent David Cortous said the result was a snapshot of how some segments of the market had changed over the past year, although the trend was not reflected across the board.
“If you sold in winter last year that was the top of the Geelong market,” Mr Cortous said.
“Things have probably settled back from the highs of last winter," he told realestate.com.au.
Property Observer advises it is up to you to determine if the offering is a truly beneficial bargain.
Remember buying at the bottom of the cycle is fraught – as you can't really precisely pick the bottom nor know just how long until you see some price growth.
Be aware you could be buying a poor quality property in an area with ongoing issues of oversupply of stock.
The oversupply could be also putting downward pressure on rents.
Other price declines could be because the vendor needs a quick sale or paid way over the top on its last purchase chase.
Property Observer suggests property purchasing really does need to be a very well considered proposition with a long term mindset.
</body></html>

Bargain property in Central Geelong? Sale price dips after one year

<html><body>
The Geelong region saw 5,595 dwellings sold across the 12 months to February 2019, according to the latest CoreLogic Regional Report. 
Sales across both houses (-14%) and units (-38%) have fallen over the year, although units only accounted for 12% of transactions over that period.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/5/geelong%201.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2019/6/5/geelong%202.jpg" target="_blank">Click here </a>to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/5/geelong%202.jpg" alt="">
Source: CoreLogic
The report notes Geelong home values increased year-on-year, with house values rising by 0.4% and unit values up 5.4% over the same period.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/5/cairns%203.jpg" alt="">
Click here to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/5/geelong%204.jpg" alt="">
Source: CoreLogic 
Homes across the region are selling faster. The average time on market for houses fell by three days over the year to February, while units are selling 19 days faster over the same period.
Vendor discounting levels remain unchanged for units, while increasing slightly for houses.
<a href="https://www.propertyobserver.com.au/images/2019/6/5/cairns%205.jpg" target="_blank">Click here </a>to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/5/cairns%205.jpg" alt="">
Source: CoreLogic
</body></html>

Geelong house and unit sales activity in decline: CoreLogic

<html><body>
The office market in Geelong, south west of Melbourne, is approaching its peak, according to valuation firm Herron Todd White.
The market kicked in to gear early last year when the offices of insurer TAC sold for a region record $115 million (pictured above).
It was sold by Impact Investment Group, who set a record when they paid $95.8 million in 2014.
The six level trophy asset was bought by Centuria Property Funds Limited.
Herron Todd White now believe the office market in Geelong is approaching the peak, along with Brisbane and Sydney.
To enlarge the National Office Property Clock, click here.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/5/Geelong1.jpg" alt="">
The Brougham Street offices of the Transport Accident Commission are located on a 5475 sqm waterfront site.
The record setting sale bred confidence.
Following the sale, a <a href="https://www.realcommercial.com.au/property-offices-vic-geelong-502580650" target="_blank">Ryrie Street office block</a> sold for $40 million through Savills.
It was sold fully leased to the likes of the State Government and a number of ASX listed and growth industries.
The confidence didn't just breed sales success.
Savills negotiated the lease of a 13,200 sqm Malop Street office to WorkSafe Victoria who moved their head office to the site.
The 14 level A grade office building was only completed in December 2017 having been developed by Quintessential Equity. 
Earlier this year the former Target Head Office at <a href="https://www.commercialrealestate.com.au/property/12-14-thompsons-road-geelong-vic-3220-2014720216" target="_blank">12-14 Thompsons Road in North Geelong</a> (pictured below) sold for $10.6 million.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/5/Target1.jpg" alt="">
It included a large land holding of around 38,000 sqm.
The property has been earmarked for a mixed-use rezone and sold with vacant possession.
Geelong has a number of offices in prime locations currently for sale.
An office block at <a href="https://www.realcommercial.com.au/property-offices-vic-geelong-503199098" target="_blank">49 Mercer Street</a> (pictured below), just one road back from the harbour, has been listed for sale.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/5/Mercer1.jpg" alt="">
Set on 240 sqm in the Western Wedge zone, the current fitout has six office spaces across its two levels. 
It is currently tenanted by the Australian Red Cross and last traded for $335,000 in 2004. It was last advertised for rent at $55,000 per annum in 2016.
</body></html>

jonathanchancellor-7SQnKwU6yx

Geelong offices approaching the peak of market: HTW national office clock

<html><body>
A two-storey Moorabool Street, Geelong building, once the John Daniel’s Ironmongery warehouse in the 1860s, has been listed for sale.
The bluestone frontage to Baylie Place is a piece of industrial heritage.
The former Mikasa outlet at 186 Moorabool St, which is hidden behind aluminium cladding, has been listed for auction on May 30.
McGrath, Geelong agent David Cortous holds the listing.
A price guide around $950,000 to $1.045 million has been set.
Mr Cortous said its history as a big warehouse with exposed timber beams could dictate buyers future plans.
Set on a 262 sqm block, it has about 560 sqm of floorspace.
“To be honest, I’ve got somebody looking at it for residential use,” he said. “Using the back entrance as the main facade, decking out the full top floor as a residence with a six-car garage at the bottom.”
The Moorabool St shopfront would be retained, he said.
“There’s a lot more inner city living, especially around the Little Ryrie St area,” he said.
The timber and stone elements warranted an A-listing from the Heritage Council, which lauded timber detailing often absent from the otherwise austere warehouses.
The property goes to auction on May 30 at 11am.
</body></html>

John Daniel’s 1860's Geelong ironmongery warehouse premises listed

<html><body>
Geelong, one of the nation's strongest performing property markets, has begun its price decline, according to property valuation firm Herron Todd White.
Both its houses and units have slipped into the starting to decline bracket in the May property clock, along with the north-east New South Wales city of Tamworth.
The prices are down for their 2017 peak, although no apparent signs of loss taking.
There was however no price growth at 403/8 Gheringhap Street Geelong which recently fetched $465,000, the same off the plan price paid in 2011 for the two bedroom apartment.
It was currently tenanted to at $420.00 per week until October with the agent advising it was "well priced for this type of property considering the location and the rental return."
The nearby $430,000 apartment at 701/8 Gheringhap Street Geelong sold at the lower end of its guidance.
The seventh floor one bedroom unit was listed with $429,000 to $459,000 price guidance, having last sold at $380,000 in 2013.
There was also little price growth at the three bedroom town house at 39 Alexandra Avenue Geelong.
It sold recently at $1.05 million, having traded at $1.02 million in October 2017.
Despite the start in declining prices, Herron Todd White noted there was an ongoing severe shortage of property in relative to rental demand.
The demand for new houses is strong, but the volume of house sales is declining.
Property Observer noted a drop in the auction clearances rates last August, from <a href="/expert-insights/buying/geelongs-auction-clearance-rates-drop-from-80-percent-to-50-percent">80 percent to 50 percent</a>.
Earlier this year <a href="/expert-insights/buying/troubling-resales-39-of-melbourne-and-geelong-s-land-market-stock-rpm-real-estate">more than a third</a> of Melbourne and Geelong land lots were being sold are resales.
It was only late last year that CoreLogic's Cameron Kusher's research found Geelong <a href="/expert-insights/buying/geelong-leads-regional-property-markets-in-houses-and-units-corelogic">leading the way in house and unit markets</a>.
Last December HTW noted Geelong, the second largest Victorian city outside of Melbourne, was defying the emerging downward market trend amid a tightening of lending rules favouring regional markets and first home owner grants for regional areas as the twin major buoyant factors.
Bucking the decline trend with its recent $570,000 sale was the two bedroom house at 1/17 Brownbill Street, at well above the $470,000 to $510,000 price guidance.
The Geelong decline extends to its house and land.
"Although the Geelong market has cooled, we are still seeing construction values stacking up against comparable properties sold, however this may not be the case moving forward," HTW said in their May review.
To enlarge HTW's housing property clock, <a href="https://www.propertyobserver.com.au/images/2019/5/8/May-Clock1.jpg" target="_blank">click here</a>.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/8/May-Clock1.jpg" alt="">
"There are concerns about the market slowing in Geelong, with longer days on market, increased stock levels and changes in lending policy in the wake of the royal commission into banking," HTW noted.
"There are still good opportunities in the current climate."
Geelong currently has a number of large englobo developments with land for sale.
First home buyers are being drawn to land developments in Armstrong Creek, Torquay, Drysdale and Ocean Grove.
Around 30 to 40 percent of sales within new developments are first home buyers.
Developers are selling 350 sqm blocks for $430,000, with building rates in the Geelong region varying from $1,200 to $1,500 per sqm for a standard volume build, increasing to anywhere between $2,000 and $5,000 per sqm for a custom build.
Herron Todd White questioned, in the current property climate, whether purchasing land in a new development is a good idea for first home buyers.
"Typically, land within these locations doesn’t have as high capital return due to the oversupply levels," they said.
They added affordability will likely be a key factor, with the more established residential areas often having a higher entry point of value, but the rewards are greater.
"Often it’s the established areas that tend to have a higher return on value due to the fact that a modern dwelling is constructed within a location closer to established infrastructure.
Geelong units have also started to decline, joining the Central Coast and Coffs Harbour, as well as the Gold Coast. Tamworth too has seen it move from the peak of the market into a declining market.
To enlarge HTW's unit property clock, <a href="https://www.propertyobserver.com.au/images/2019/5/8/May-Clock2.jpg" target="_blank">click here</a>.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/8/May-Clock2.jpg" alt="">
 
 
 
</body></html>

Geelong

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Geelong

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News