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

Geelong

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As someone allegedly knows something about property, I have to confess I didn't participate in Melbourne's property market through its recent stellar run, having been focused on Sydney, and more lately Brisbane. 
 
At least I won't miss out on Geelong, though.
 
Geelong had always looked to be a likely contender for the ripple effect from Melbourne, being located less than 50 miles from the capital, and being a generally good city in its own right.
 
And then the Labor government more or less nailed it on by announcing a series of measures to stimulate the market.
 
I broke a golden rule of thumb when discussing possible price impacts here when I estimated that median house prices in the city could feasibly rise by 20 to 30 per cent by 2020 (never use numbers; they always go for the numbers...).
 
Somehow, that became a median price of $600,000 ("it's not hard to envision prices in Geelong moving 20 to 30 percent higher by June 2020, particularly in the sub-$600,000 bracket").
 
Anyhoo, the point was that prices could rise as a result of the stimulatory measures, not least because the new legislation doesn't take full effect for months, affording opportunists a free kick at buying before 1 July. 
 
And it looks like prices are teeing off already.
 
Last weekend the auction clearance rate in Geelong moved above 90 percent, the highest regional or non-capital city clearance rate in the country.
 
And there are now regular stories of street records being smoked.
 
This weekend a house that last sold for $310,000 in 2009 sold for an astonishing $836,000 at auction. 
 
It looks like a rocket has been put under house prices in Geelong West.   
<a href="https://www.propertyobserver.com.au/images/2017/03/23/A1.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/23/A1.jpg" alt=""> 
All the hallmarks of a nascent boom.
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/">blogger</a>.
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx">Four Green Houses and a Red Hotel</a>.
 
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pwargent-M4siyDbqQY

Geelong prices teeing off early

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A 237 square metre retail shop at Geelong has been sold.
Located at <a href="https://www.realcommercial.com.au/property-retail-vic-geelong-502225758" target="_blank">80 Ryrie Street</a>, the CBD property, close to the Corio Bay Foreshore Reserve, was offered with a guidance of $550,000 plus GST.
It has frontage and exposure in a professional services district.
It was offered through Colliers International agents Ben Young and Jonathon Lumsden.
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j.ballantyne1990-6AQqhLzZaK

Geelong CBD retail shop sold

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Geelong had the highest auction clearance rate in the regional regions over the weekend, according to CoreLogic’s latest report.
The property data firm says that 94.4% of Geelong’s 18 auctions were successful.
This is followed by the Hunter region with 78.6% and Wollongong with 77.3%.
<a href="https://www.propertyobserver.com.au/images/2017/03/13/Screen%20Shot%202017-03-13%20at%2011.08.21%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/13/Screen%20Shot%202017-03-13%20at%2011.08.21%20am.jpg" alt="">
Gold Coast had the lowest auction clearance rate with only 46.7% of auctions cleared.
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-indented+head-124753110" target="_blank">49 Henderson Street</a>, Indented Head (above) was sold for $350,000.
Similarly a two bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-portarlington-124695830" target="_blank">4 Grassy Point Road</a>, Portarlington (below) was sold for $730,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/13/4%20Grassy%20Point%20Road.jpg" alt="">
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Geelong secures highest regional auction clearance rate: CoreLogic

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<img src="https://counter.theconversation.edu.au/content/72351/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
There are few more telling signs of conflict in urban spaces than calls to send in the police.
Geelong’s Little Malop Street Mall has been the subject of many such calls, as regular incidents keep the space in the media spotlight.
But Geelong-based writer Ross Mueller’s 2015 call for the police to be called in to investigate “criminal neglect of our public place” comes at the problem from a new angle.
“That’s right,” Mueller began. “We need a whole division to investigate exactly who approved the brilliant idea of building two massive shopping (centres) right next door to each other.” He proposed “the biggest working bee in our history” to rip up the space and start from scratch.
Even if said working bee came to pass, the spatial issues behind the mall’s malaise need to be understood. While an influx of police has often been seen as a way to “fix” the mall, such approaches deal with symptoms rather than the causes of conflicts in such spaces.
The mall’s story has vital lessons for cities around Australia. Chief among them is that public spaces not designed for all can become stages of conflict and alienation. While the centre may hold the focus, the edges of these spaces hold the key.
Haven of the ‘mall rat’
In the 1860s, the area comprising today’s Little Malop Street Mall was part of Market Square, then a large public reserve in the east of the city centre. Its story has been controversial, with privatisation for commercial interests gradually eroding the space over time.
In 1985, what remained of the square and a network of streets was replaced by the Market Square Shopping Centre. This left the narrow rump of public space to the south that is now the mall.
The shopping centre, and another built on the other side of the mall soon after, closed over a connected network of streets similar in form to Melbourne’s celebrated Hoddle Grid. This loss of lively streets and laneways has made this section of Geelong’s city centre less permeable and less pedestrian-friendly.
While the introverted centres have prospered, the mall has become a space as feared and fretted over as the people locally derided as “mall rats” who have become associated with it.
Public perceptions of the space have declined in spite of various interventions, including redevelopments and communications campaigns targeting antisocial behaviour.
Conflicted messages and purposes
The conflict between users of Little Malop Street Mall is rooted in two larger interrelated conflicts. One is between the operation of space as a public common and space for profit. The other stems from the conflicted messages that the space sends to users.
People interpret spaces, and the messages we receive are shaped by several factors. These range from our interaction with physical factors like objects within the space, the space’s edges and how we navigate through spaces, through to discourses or texts that French philosopher Henri Lefebvre identified as “representations of space”.
A successful public space or commons sends messages that make it welcoming to all. The space encourages interaction and invites people to linger.
In this context, defensive interventions aimed at excluding particular groups, such as playing loud classical music to deter so-called “mall rats”, are particularly problematic. Measures that seek to exclude one group often generate a space that deters all.
More successful interventions to activate the mall have involved organised programs of events such as food trucks and live entertainment. But when the carnival moves on, the design problems remain.
Conflict by design
The shopping centre’s opening was clearly a decisive blow in favour of privatised space. Even more significant, though, is the way the centre is designed to turn its back on the public spaces and streets around it.
This speaks to the importance of edges in urban design. While the centre’s boxy form and bulky scale overshadow the mall, the biggest issue is at street level. Here, long stretches of blank concrete walls, loading docks, tagged shopfronts and security grilles form the centre’s face to the mall.
This stark edge sends a message that the space is unsafe and unwelcoming, positioning the mall’s public function as secondary to the profit-driven centre. While in theory the mall is a public space, these hard edges send the clear message that it is not a place for people.
Contrast this with a lively space where the edges between streetfronts and shops are open, with lots to attract eyes and people. Danish architect Jan Gehl, a key figure in the reinvigoration of inner-city Melbourne, writes in his 2010 book Cities for People:
When the city’s edges work, they reinforce city life. Activities can supplement each other, the wealth of experience increases, walking becomes safer and distances seem shorter.
The good news is that hints for creating a better mall are literally metres away. In Little Malop Street, west of the mall, narrow shopfronts on both sides of a one-way street and pedestrianised area form lively edges. These have laid the foundation for a renaissance of city life: dining, activity and a totally new vibe.
The mall’s edges are not the only issue confronting the space, but they are fundamentally important. Other interventions such as streetscape works will be of little use if the inactive edges remain.
Matt Novacevski is research fellow, Deakin University and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/matt-novacevski-312329" target="_blank">here</a>.
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jchancellor-FAypfDUnLy

Contested spaces: living off the edge in a city mall where design fuels conflict

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Well, the Andrews Labor Government is really throwing the kitchen sink at the regional Victorian housing market. 
Two days ago, it was announced that there will be a $20,000 first home owners grant for buyers in regional Victoria: 
"The First Home Owner Grant will be doubled in regional Victoria, helping thousands of Victorians buy their first home...the Grant will increase from $10,000 to $20,000, commencing 1 July 2017."
The increased grant will also be available to first home buyers building homes valued up to $750,000.
With some first home buyers struggling to get into the Melbourne market, the most clear-cut beneficiary of this policy will be the Geelong housing market being located ~45 miles south-west of the state capital. 
Around 17,000 persons presently commute from Geelong to Melbourne daily, about 12,000 by road and the remainder by train.
The other likely beneficiaries will be the 'B cities', being the housing markets of Bendigo and Ballarat respectively.
Stamp duties waived
Going an inflationary step further, the Andrews Labor Government chimed in again over the weekend with another price-boosting policy:
"Stamp duty will be abolished for first home buyers for purchases below $600,000, helping thousands of Victorians find their first home, as the Andrews Labor Government tackles housing affordability head on.
Those buying a home valued between $600,000 and $750,000 will also be eligible for a concession, applied on a sliding scale. 
The exemption and concession will apply to both new and established homes, in a move that is expected to help 25,000 Victorians find their first home."
This is also very significant, particularly given that Victoria has more punitive stamp duties than New South Wales and a number of other states and territories.
Some buyers with a 5 per cent deposit will also be afforded the opportunity to co-purchase a dwelling with the government from next year.
Timing blunder?
How the above measures will serve to boost entry level prices in the regional housing markets of Victoria is clear enough. 
What may be slightly less obvious is that since the grant will only become applicable for contracts signed from 1 July 2017 to 30 June 2020,  by telegraphing the policy changes months in advance the government has perhaps inadvertently presented opportunistic investors a window within which to hoover up entry level stock.
In a similar vein the ALP's election pledges to restrict negative gearing deductions and remove the capital gains tax 'discount' have to some extent drawn more investors into the market in order to beat any potential future deadline.
These newly-announced measures are therefore potentially a mixed blessing for the first home buyers in Victoria.
On the one hand the announcements make entering the market potentially easier by offering both a $20,000 grant and a stamp duty exemption.
On the other hand, those unable or not feeling compelled to buy are all but certain to see entry level prices gravitate higher. 
Finally, if all of the above wasn't enough meddlesome manoeuvring, Treasurer Morrison noted that the Coalition is working on a housing affordability package of its own, with all to be revealed in the May budget. 
The wrap 
Evidently this will be a boost for regional Victorian housing markets. 
It's worth noting that such measures may inflate housing markets by a greater magnitude than the apparent dollar value of the twin benefits, since market participants can potentially use greater leverage as a result of needing a lower deposit and requiring no savings for stamp duty.
It's not hard to envision prices in Geelong moving 20 to 30 percent higher by June 2020, particularly in the sub-$600,000 bracket.
<h3 class="post-title entry-title"> </h3>
 
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.
 
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank">Four Green Houses and a Red Hotel</a>.
 
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Threefold boost for Geelong housing market: Pete Wargent

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Geelong is ranked among the regional regions with the highest auction clearance rate, according to CoreLogic’s latest report.
The data firm says that out of the 31 auctions known to CoreLogic over the weekend Geelong sold 80%.
This is followed by Wollongong with 76% and the Hunter with 71%.
<a href="/images/2016/11/10/Regional%20regions.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/10/Regional%20regions.jpg" alt="">
The region with lowest auction clearance rate was the Gold Coast where out of the 35 auctions known to CoreLogic over the weekend only 42% were sold.
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Geelong leads with 80% auction success: CoreLogic

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Former Geelong Football Club champion Cameron Ling has been announced as an ambassador for Oakdene Estate, a development along the Bellarine Peninsula.
Oakdene Estate is an established community in the heart of Ocean Grove.
The three-time premiership hero is a resident in nearby Geelong and has further extended his interest in the property. He said that every aspect of Oakdene Estate has been thoughtfully considered and carefully planned.
"There’s no doubt Oakdene Estate is an ideal place to build a home and raise a family," Ling said.
"The community is rich with great lifestyle factors and a friendliness that you just don’t get anywhere else".
Oakdene Estate features single dwelling covenants and architecturally designed homes.
An expanding coastal town, Oakdene Estate’s stage eight land release is now selling, with Oakdene Estate representative, Nicholas O’Donohue saying that he believes the strong interest in the development will continue to grow.
"With six stages already sold out and strong buyer interest from baby boomer downsizers and young families, Oakdene Estate is set to redefine Ocean Grove living," O’Donohue said.
"Oakdene Estate has been very successful with 11 out of the 38 lots being sold on the first weekend.
"This sensational collection of these family size blocks range in size from 476 square metres to 1,467 square metres.
"A variety of lots are also still available in stage seven ranging in size from 326 square metres to 828 square metres."
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Former Geelong champion Cameron Ling announced as Oakdene Estate ambassador

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Geelong has regularly taken the top spot for Victorian regions with the highest auction clearance rates, according to CoreLogic.
Last week the region had an auction clearance rate of 80 percent amid its 52 auctions.
Now Leopold, Corio, Norlane and Lara have joined the top 30 suburbs where Terry Ryder has predicted house prices will take off this spring.
Hotspotting founder Terry Ryder listed Geelong suburbs Corio, Lara, Leopold and Norlane in his top rising markets in his spring Price Predictor Index.
Ryder recently described Geelong as the superstar of the Victorian property market.
The local paper, the Geelong Advertiser noted expansion of Leopold’s Gateway Plaza shopping centre, including Bunnings, Kmart and Aldi, was a catalyst for interest in the suburb, Allpoints agent Janet McIntosh said.
“People see us as a suburb with lots of extra facilities that’s got the potential to keep growing to become like another Waurn Ponds,” Ms McIntosh said.
New land estate Estuary sold out early this year, increasing demand in the suburb, Ms McIntosh said
“It’s very hard to get any houses under $300,000 now,” she said.
Leopold and Lara’s median house price is $380,000, the report shows.
<img src="/images/2016/10/27/14%20Teesdale%20Court.jpg" alt="">
A three bedroom home at <a href="https://www.realestate.com.au/sold/property-house-vic-lara-122910142" target="_blank">14 Teesdale Court</a> (above) was recently sold for $380,000.
Ryder sees Geelong as an affordable alternative to Melbourne.
Corio and Norlane, which were in July’s survey, have median prices of $240,000 and $222,000 respectively.
Overall Hotspotting listed eight Geelong suburbs that were rising steadily and another 12 suburbs were sales volumes were steady, outranking any council area in Melbourne.
<a href="/images/2016/10/27/Screen%20Shot%202016-10-27%20at%2012.59.42%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/27/Screen%20Shot%202016-10-27%20at%2012.59.42%20PM.png" alt="">
 
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Geelong outranks Melbourne in Hotspotting property location list

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A former Geelong church is currently for sale as retail space. The property was on the market earlier this year for $1.3 million.
The property at <a href="https://www.realcommercial.com.au/property-offices-vic-geelong-501979202" target="_blank">7/74 Gheringhap Street</a> has a floor space of 270 sqm.
It is leased until February 2020 with a possibility of extensions.
Situated within the former 1860s St Giles Church, the space features stained glass windows and slated roof.
The whole building has undergone considerable improvements to turn it into the state-of-the-art facility it is today.
The premises on sale comprise two separate entry areas, one from the common property area and another one directly off Gheringhap Street as well as including three basement car spaces.
The ground floor includes an entry area, waiting room, reception area and three treatment rooms and bathroom. Carpeted stairs lead to the first floor that contains an open landing area, treatment room, laser room, spray tan room and kitchenette among others.
Similarly the second floor leads to offices, storage cupboard and landing area among others as well as a small mezzanine level accessible from the second floor that comprises of an open plan space.
Other internal features include ceramic floor tiles in treatment rooms, given it is currently fitted out with a cosmetic centre and is suitable for medical use.
The net rent is $73,000 p.a. plus GST and outgoings.
It is offered through Maxwell Collins Real Estate agent Tom Fonay.
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Former Geelong church office for sale

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Based on data to June 2016, the median house value across Geelong was $452,657, which is 5.6 percent higher over the year, rising faster than unit values, which were up 3.4 percent over the 12 month period, to $332,864, according to CoreLogic's regional market report.
<a href="/images/2016/09/07/Screen%20Shot%202016-09-07%20at%2011.52.08%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/07/Screen%20Shot%202016-09-07%20at%2011.52.08%20AM.png" alt="">
Longer term, detached housing has outperformed the smaller unit market across the region, with the median house value now 21.4 per cent higher than it was five years ago, compared to a more moderate 9.8 per cent rise over the past five years for units.
<a href="/images/2016/09/07/Screen%20Shot%202016-09-07%20at%2011.52.15%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/07/Screen%20Shot%202016-09-07%20at%2011.52.15%20AM.png" alt="">
Both house and unit rental markets have recorded a similar performance over the 12 months ending June 2016, with rents rising 3.0 per cent and 3.6 per cent respectively, while units (4.9 per cent) are expected to offer greater returns to investors than detached houses (4.5 per cent) across the region.
<a href="/images/2016/09/07/Screen%20Shot%202016-09-07%20at%2011.52.26%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/07/Screen%20Shot%202016-09-07%20at%2011.52.26%20AM.png" alt="">
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<img src="/images/2016/09/07/Screen%20Shot%202016-09-07%20at%2011.52.35%20AM.png" alt="">
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