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

Joel Robinson

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

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

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

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

Bottega House secures landmark riverfront site in St Lucia 

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

SIERA kicks off construction at Northcliffe tower Exhale

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

Eastern Suburbs buyers snap up ESTE Little Bay apartments

Gold Coast

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Perhaps not the best time to list any soaking wet Queensland beach shack last weekend.
The Palm Beach, Queensland home of Townsville-bound country singer Adam Brand has been listed for 10 March auction.
The 1970s 36 First Avenue home was bought by Brand in November 2012 for $400,000 and then renovated.
"All just a few hundred metres from those glistening sandy beaches," the marketing advise.
Brand, who also owns two Queensland restaurants, was dubbed a "jet setting singer/ song writer with plenty more plans on the horizon", according to the <a href="https://raywhitecoolangatta.com.au/qld/palm-beach/1264929/" target="_blank">Ray White marketing by agent Tom Collingwood</a>.
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jchancellor-FAypfDUnLy

Singer Adam Brand lists Gold Coast beach shack

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The upcoming Commonwealth Games is set to boost the Gold Coast property market, according to real estate franchise PRDnationwide.
New infrastructure projects worth $950 million are expected to cope with the 2018 Commonwealth Games, including the Athlete's Village in Southport and sporting centres in Carrara, Coomera and Broadbeach.
The recent price growth for houses in the local market, with 11.0% median price growth in Southport and 10.2% in Ashmore, along with the new infrastructure and stock on the market that will be introduced around the Commonwealth Games, has given PRDnationwide reason to expect strong growth in the region.
PRDnationwide national research manager Diaswati Mardiasmo says both the 2000 Sydney Games and the 2006 Melbourne Commonwealth Games provided boosts for local property markets.
"By looking at case studies of similar sporting event-related development in the greater Sydney and Melbourne regions surrounding past games, respectively, we were able to forecast how the Gold Coast property market will be impacted not only prior to and during the year of the Games, but also in the years following the Games," said Mardiasmo.
According to PRDnationwide, the total cost of the Sydney Olympic Games has been estimated at $6.6 billion, with some of that money allocated to the Athletes Village. After the games, the site was transformed into 900 townhouses and 700 apartments, which were offered to first home buyers. PRDnationwide notes the development's popularity with first home buyers, which it credits with a surge of development and sales activity area, citing 58% growth in sales in Newington and surrounding suburbs from 2000 to 2001.
Click charts to open in new windows:
<a href="/images/2015/02/16/parkville-feb-17-two.jpg" target="_blank"><img src="/images/2015/02/16/parkville-feb-17-two.jpg" alt=""></a>
Unlike developments around the Sydney Olympic Games, where developments primarily took place in a concentrated area, new sporting infrastructure will be spread throughout the Gold Coast. Melbourne's Commonwealth Games saw a similar pattern of development.
There, the Athletes Village was built in the inner-northern suburb of Parkville, where sales increased by 33% between 2006 and 2007.
<a href="/images/2015/02/16/parkville-feb-17-one.jpg" target="_blank"><img src="/images/2015/02/16/parkville-feb-17-one.jpg" alt=""></a>
PRDNationwide expects that the increased development around the Gold Coast will not lead to oversupply but will accommodate the population growth projected for the area.
<a href="/images/2015/02/16/parkville-feb-17-three.jpg" target="_blank"><img src="/images/2015/02/16/parkville-feb-17-three.jpg" alt=""></a>
Source: PRDnationwide
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jrichardson-uRX5hFdKfN

Gold Coast to get a boost from the Commonwealth Games: PRDnationwide

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The offices of architects DBI Design on Surfers Paradise has been sold with a leaseback for $5.15 million, reflecting an initial yield of 10%.
The high profile Surfers Paradise office of awarding-winning architecture practice DBI Design has been sold in a vendor leaseback deal by Surfers Offices Pty Ltd.
CBRE’s Mason Kidman and Lachlan Harris negotiated the sale of the 9 Trickett Street office.
DBI Design has taken a five year lease with further five year options over the premises, with a total gross floor area is 2,749 square metres, including the 405 square metre entrance and foyer.
DBI is renowned for its local and international design work, which includes the Gold Coast, Port Douglas and Hawaii Sheraton Mirage resorts, Soul, Oracle and Southbank Parklands in Brisbane.
The sale price translated to an initial yield of 10%.
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DBI Design offices on Gold Coast sold

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The mortgagee offering on the 54th floor of the Gold Coast landmark tower Q1 comes with an $890,000 asking price.
Agent Danny Woolbank at Ray White Broadbeach says the three bedroom two bathroom Surfers Paradise apartment has breathtaking views from every room.
<a href="https://www.realestate.com.au/property-unit-qld-surfers+paradise-118501391" target="_blank">5405 at 9 Hamilton Avenue</a> (pictured in gallery above) is 205 square metres.
It last traded at $1.05 million in 2002.
When initially listed in 2011 it had a $1.2 million asking price.
Fitch’s 13th report covering the performance of Australian mortgages by postcode featured Surfers Paradise in 10th place in the 20 worst-performing postcodes across Australia.
Queensland was the worst-performing state with delinquencies at 1.04%. All states have improved, but Queensland showed the smallest improvement among all states, in the latest Fitch report issued this week.
Queensland dominated the list of the worst 20 suburbs, with eight entries including Airlie Beach in 8th place.
Five of the worst-performing postcodes were located in Brisbane, three of which were in the Gold Coast area.
Surfers Paradise and Mudgeeraba have been previously listed among the worst- performing postcodes, while Oxenford appeared in the list for the first time.
All these postcodes experienced an increase in arrears during the six months to September 2014, and particularly in the 90+ days arrears indicating that the housing market or unemployment may be the main cause of the increases. 
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Q1 Gold Coast mortgagee apartment offering for less than 2002 sale price

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GUEST OBSERVATION
With the Gold Coast tipped to be one of the hotspot property markets of 2015, I thought I would share my tips to buying well on the glitter strip.
Investors should target property areas in and around planned infrastructure developments if they are looking to capitalize on the growth potential the Gold Coast offers.
The Gold Coast’s lifestyle market is fast becoming a more viable option for not only entry level investors, but those who may have capped out in the southern states and are looking to diversify their portfolios as South East Queensland gets set to boom.
The Southport CBD has been earmarked as a priority development area with key projects including a Chinatown precinct, redevelopment of the old Gold Coast Hospital site and the Broadwater Parklands which is already in the final stages and includes the new Gold Coast Aquatic centre.
On the retail front, Broadbeach is already taking off with the $670 million dollar transformation of Pacific Fair which will make it the largest shopping centre in Queensland and the fourth largest in Australia.
Coomera at the Northern end of the Gold Coast can also look forward to a $500 million Westfield development which has just been given the green light after 18 years in the pipeline.
All of these developments will largely contribute to the Gold Coast’s thriving economy over the next 10 years and will certainly result in continued growth in property values in and around any of these developments.
In the past year, capital growth figures show the city has been performing well with strong growth predicted to continue.
With a high demand for quality rentals and tenants prepared to pay premium rents, the coast can expect to see high yields continue in 2015.
While the Gold Coast had a lot going for it, not every investment opportunity was a good one and investors needed to buy well.
The Gold Coast is a lifestyle property market and investors need to tread carefully.
If you’re looking to invest, engage the services of a qualified and accredited buyer’s agent.
They can educate you on the current state of the market enabling you to make informed decisions and save you thousands in the long run.
Always consider how qualified the advice you’re listening to is and what their motives may be – this includes selling agents.
Remember, if they’re not getting paid by you they’re not working for you.
Here are my five tips for buying well in 2015:
<ol>
<li>
Get pre-approved In a fast moving market, buyers need to act quickly. There is nothing more powerful in the negotiation process than a buyer with pre-approved finance and the ability to negotiate on good terms. 
</li>
<li>
Do your homework The key to buying well is knowing a good deal when you see it. As laborious as the task may seem, the more research you do and the more open homes you attend, the better you educate yourself in the market to be able to differentiate between a buy you should hotly pursue and one you should walk away from. 
</li>
<li>
Talk to as many agents as you can As much as you might avoid talking to selling agents, in the current market climate it’s important that you speak to as many as you can on a regular basis so that you don’t miss out on any new listings coming onto the market. Remember though that they are working to get top dollar for the seller so they are not out to do you any favours. 
</li>
<li>
Don’t be afraid to buy before the election Some of our best buys have been leading up to an election when many weary investors keep their hands in their pockets. 
</li>
<li>
Get a fair market valuation prior to finalising negotiations It’s important to know the difference between a fair market valuation and a bank valuation. A bank valuation is carried out once you have agreed on a price and signed a contract so essentially the deal is already done and just because a bank valuation stacks up doesn’t mean you nabbed yourself a bargain. Getting a fair market valuation prior to commencing any negotiation enables you to negotiate confidently and it also gives you the insight to know when to walk away. </li>
</ol>
TONY COUGHRAN is a buyer's agent and certified practising valuer with the Gold Coast-based<a href="https://www.vfmpropertyadvisors.com.au/" target="_blank"> VFM Property Advisors</a>.
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TonyCoughran-WXkUASdYik

Five tips to beat the Gold Coast property market heat: Tony Coughran

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Almost 60% of the 99 properties auctioned at the Gold Coast yesterday sold with Ray White The Event attracting 243 registered bidders
A 770 square metre two level penthouse at the Nirvana by the Sea block in Kirra was the top sale at $3,755,000 among the $20 million auction proceeds.
<a href="https://www.rwsp.net/qld/kirra/1241869/" target="_blank">1504/1-3 Douglas St, Coolangatta</a> had previously sold for $2.75 million in 2011, but its $4.4 million hopes held since its early 2014 listing proved overly ambitious.
There had been two earlier higher sales in the prime block of 60 apartments developed by <a href="https://www.nirvanabythesea.com" target="_blank">Niecon</a>.
Its 2007 marketing was promoting Kirra as the "new Noosa" with prices from $950,000 to $2,895,000, replacing 1970s brick blocks of units.
Once known as a casual village popular with surfers, Kirra is at the southern end of the Gold Coast.
<img src="/images/2015/01/27/cobain%20jan%2027%20one.jpg" alt="">
But sellers of a two-bedroom unit in the Soul building at Surfers Paradise secured just $905,000, which was $795,000 less than it fetched in 2012, the Gold Coast Bulletin reported.
The <a href="https://www.rwsp.net/qld/surfers-paradise/1233957/" target="_blank">2502/4-14 The Esplanade, Soul, Surfers Paradise</a> was a 122 square metre offering last sold in June 2012 at $1.7 million to Brisbane buyers.
Onthehouse recently gave a $1.6 million plus guidance.
There were 12 pre-sales among the 58% success rate. There was a 58% initial clearance rate in January 2012. The clearance rate was higher than last year, when around 50% of the homes sold on the day.
The Ray White Surfers Paradise Group chief executive Andrew Bell said the auction was one of the best on record with many properties having four or five bidders.
“Selling close to 60 properties in the space of six hours is a big statement for the state of the local property market,” he told the News Ltd local paper.
The 22nd annual auction showcase, the biggest in Australia, included family homes, investment properties and trophy homes.
28 Lakelands Drive is now under offer. It has four bedrooms, and the listing states that it would comfortably rent for $800 per week.
Bell said investors dominated this year with a strong showing from Melbourne and Sydney buyers.
“The high volume of investors says a lot about market confidence and discretionary spending power,” he said.
Other sales included 50 Falkinder Ave, Paradise Point for $480,000.
The property last sold for $460,000 in 2013.
A one bedroom unit in the Paradise Isles Resort on the Gold Coast was sold for $160,000 to a Sydney investor, with $270 a week plus rental potential,thereby reflecting around a 9% yield. Set on Chevron island, it had first sold back in 1997 for $161,900 at the low rise 40 Burra Street. There was a $189,000 and $167,000 sale in the block last year.
PRD Research recently noted South East Queensland experienced positive property price growth in 2014; despite a soft decline in transaction volume.
<img src="/images/2015/01/27/cobain%20jan%2027%20two.jpg" alt="">
Professional golfer Wayne Grady's riverfront Gold Coast home also went to weekend LJ Hooker auction without success. <a href="https://www.domain.com.au/property/for-sale/house/qld/ashmore/?adid=2011682945" target="_blank">The 1988-built Ashmore house</a> on a 3364 square metre holding had been his home since $850,000 was paid in early 1996. It was listed with $2.79 million hopes in April last year.
It has been a tightly held property having sold at $36,000 in 1978.
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Coolangatta takes the gold but no sales nirvana for all Gold Coast apartment sellers

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Up to 120 Gold Coast properties will be auctioned this weekend at Ray White Surfers Paradise Group's mega-auction, The Event.
The 22nd annual auction showcase, the biggest in Australia, will include the Gold Coast Home and Living Expo.
Exhibitors include a range of property and finance businesses, including self-managed super fund advisers, financial planners, and tradespeople.
Properties auctioned on the day will include family houses, investment properties and trophy homes.
A house in Ashmore will be auctioned as part of The Event. The elevated house at <a href="https://www.rwsp.net/qld/ashmore/1240267/" target="_blank">14 Mulyan Place</a> (pictured above) has four bedrooms, with spotted gum floors throughout, and a saltwater pool.
<a href="https://www.rwsp.net/qld/merrimac/1243433/" target="_blank">28 Lakelands Drive</a> (pictured below) is another of the 120 properties up for sale at The Event on Sunday. It has four bedrooms, and the listing states that it would comfortably rent for $800 per week.
 <img src="/images/2015/01/22/raywhite2.jpg" alt="">
Of course, a price guide cannot legally be provided for any of the properties up for auction at The Event, given Queensland's 2014 ban of auction price guides.
The Event 2015 and the Gold Coast Home and Living Expo open at 10am on Sunday 25 January. <a href="https://www.rwsp.net/buy/auctions/" target="_blank">Ray White Surfers Paradise Group</a> chief executive and chief auctioneer Andrew Bell will also present a property report before auctions begin.
Would you sell your property at a mega-auction?
{mijopolls 79}
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Ray White mega-auction event returns to the Gold Coast

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GUEST OBSERVATION
I expect the Gold Coast market to surprise many pundits and become one of Australia’s best performers during 2015-2017. The storm clouds are gone, the sun is due to shine – and quite brightly. However, there is still some turbulence in the waters.
Tourism drives the Gold Coast’s economy. So, when the global financial crisis (GFC) hit in late-2008, consumer sentiment disappeared, jobs were shed and its property market suffered.
The Gold Coast’s only other industry of note is construction and a significant pre-GFC over-supply compounded things for its property market. In spite of having population growth (3.1% per annum during 2003-2013) of almost double that of the national average (1.7%), the Gold Coast was the worst performing market in Australia for a few years.
<img src="/images/2015/01/01/pressley%20jan%205%20one.jpg" alt="">
As the above graphic shows, building approvals declined considerably post-GFC and a lot of the surplus supply has now been soaked up. Vacancy rates have tightened. Sales volumes and property prices are already growing.
Consumer and business sentiment have improved over recent years. The new Gold Coast hospital plus a $1.8 billion passenger rail project have been good for jobs growth. Work has commenced on a $670 million expansion of Pacific Fair which will make it the largest shopping centre in Queensland.
The $500 million athlete’s village for the 2018 Commonwealth Games and a $1 billion luxury hotel by Chinese developer, Ridong, are other major projects.
<img src="/images/2015/01/01/pressley%20jan%205%20two.jpg" alt="">
The tourism boom which we predicted two years ago has arrived, meaning things will only get better for the Coast.
A decision on a proposed $7 billion mega resort is due in early-2015. An economic impact statement released by the proponent in September 2014 suggests that, if completed, tourism revenue could increase from $1.15 billion per annum to $8.9 billion; 15,000 jobs could be created.
By the end of 2015, I believe the data will show Gold Coast to have been one of the strongest markets in Australia.
But don’t be fooled, leopards don’t change their spots!
Gold Coast Mayor, Tom Tait, is a developer by trade and he is very pro-construction. There have been a number of large building applications lodged during the last 12 months. Significant oversupply is expected again in a few years time. Areas with a high concentration of new supply will include Southport, Coomera and Labrador.
Simon Pressley is managing director of <a href="https://www.propertyology.com.au/" target="_blank">Propertyology</a>, a full-time property market analyst, accredited property investment adviser, and Australia’s (REIA) Buyer’s Agent of the Year (2012+2013+2014).
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Sun set to shine on Gold Coast property market

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Stage five of $200 million CityVillage, a Gold Coast development from Robina Group, has been fast tracked to bring 22 lakefront terrace homes to market.
The new offerings will be priced from $599,000, with 14 of the homes featuring three levels and many of the homes have double car garages.
More than $65 million of sales were secured in 2014, including a sell-out of 33 three bedroom lakefront terrace homes in stage four. Stage five will overlook a central lake.
They will include a courtyard on the lower level, a balcony to the main living space, three separate living areas, three bedrooms, a media room, two bathrooms and a powder room. They are on freehold land.
<img src="/images/2015/01/06/CityVillage-jan-6-one.jpg" alt="">
The masterplanned community will eventually house 500 residences, explains Robina Group director Tony Tippett.
“CityVillage continues to attract buyers who want the lifestyle benefits of being able to live, work and play in the one amenity rich location,” he said.
“The community is located in CBDRobina, which is at the geographic heart of Gold Coast City and within 250 metres walking distance of Robina Town Centre, with all its shopping, dining and entertainment offerings.”
He said that the improved market conditions across the Gold Coast are being felt.
"CityVillage is only 10 minutes drive to Burleigh Headland and the beach, it enjoys close and easy access to the M1 motorway, is 15 minutes drive to Gold Coast Airport and 45 minutes to both Brisbane Airport and Byron Bay,” he said.
Across CityVillage and Riverlily, Robina Group has secured close to $103 million in sales at the sites.
“We have been working extremely hard to keep pace with the demand across the board," said Tippett.
One of the stages of CityVillage, with 35 homes, sold out within two days. Riverlily’s 71 terrace homes released in April 2014 took three months to sell out, for $35 million.
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Gold Coast’s CityVillage stage five fast tracked

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Music industry veteran Graham Hutchison’s mansion at Carrara has been sold for $7.16 million to a Chinese buyer some six years after its listing.
It is a large Queensland riverfront estate at <a href="https://www.realestateview.com.au/Real-Estate/30-32-maryland-avenue-carrara/Property-Details-buy-residential-7422655" target="_blank">30-32 Maryland Avenue</a>. It was listed through the Lucy Cole, Ray White and Harcourts agencies.
The property has a pool, tennis court, gym and pontoon. 
It sold to Prosper Holdings Pty Ltd, which is associated with Stanley Chan. 
The Gold Coast Bulletin lists the sale as the third-highest for 2014 after 60 Admiralty Drive, Paradise Waters, which sold for $8.7 million and 72-74 The Sovereign Mile, The Sovereign Islands, which sold for $7.25 million.
The Sunshine-bound Hutchison bought the property in 2003 for $1.79 million and spent $1 million on renovations to the property in 2012.  
The 8,029 square metre block with 75 metre river frontage contains a 929 square metre two-level residence.
Hutchison was quoted in July this year in the Gold Coast Bulletin stating his property had recently attracted Chinese buyers.
“The Chinese love it because it’s huge, the two numbers (30 and 32) add up to eight ... you can land a helicopter and keep two horses." 
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