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

Joel Robinson

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

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

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

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

Bottega House secures landmark riverfront site in St Lucia 

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

SIERA kicks off construction at Northcliffe tower Exhale

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

Eastern Suburbs buyers snap up ESTE Little Bay apartments

Gold Coast

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The Gold Coast’s resurgent tourism market has proven to be one of the biggest drivers of the property market, according to one of the larger agents on the Gold Coast, Ray White Surfers Paradise.
A total of 163 sales to offshore and interstate buyers were recorded by the agency over the September quarter, 49% of their total transactions. This is an increase of 35% on their 2013 September quarter sales to these categories.
“In the past few months we have witnessed a significant rise in buyers from interstate or overseas,” said Ray White Surfers Paradise CEO Andrew Bell.
“This shows how significant the national and international markets are for the Gold Coast right now. Many buyers, particularly from Sydney and Melbourne, are well-heeled having reaped the rewards of property price growth in their own cities.”
Bell explained that Sydney and Melbourne buyers see the Gold Coast as in a recovery swing and currently representing good value.
In the past year, the agency has sold more than 300 properties to Chinese buyers, aligning with international tourism figures being up 5.5% for the Gold Coast, with Malaysian tourism up 40%.
“There is also an increasing number of people deciding to move here permanently, encouraged by more affordable real estate on the Gold Coast than in the southern states,” Bell said.
“For example, many Sydneysiders can sell their current home, free up equity and then move to a similar-standard property on the Gold Coast with enough money to spare for an investment."
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jduke-EHk3XBmHkn

Tourism driving resurgent Gold Coast market: Ray White

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Home buyers looking for affordable options on the Gold Coast may not be thrilled to know that the average price for a new apartment in the area is sitting at $812,045, according to Urbis Research’s Gold Coast Apartment Report.
However, there are two new development projects offering apartments for under $400,000.
These projects are:
<ul>
<li>
<a href="https://www.sage-apartments.com.au" target="_blank">Sage</a> in Merrimac (from Minamarc Pty Ltd), pictured above: Two bedroom, two bathroom apartments in stage one from $345,000 to $369,000, averaging more than 90 square metres. 
</li>
<li>
<a href="https://azzuragreens.com.au/" target="_blank">Azzura Greens</a> in Hope Island: A resort complex that offered 159 one and two bedroom apartments, from approximately $330,000 upwards.</li>
</ul>
Sage Apartments sale manager, Elena Marchetti, said that the level of sales and enquiry in recent months have been strong, reflecting upwards growth figures in the median price – with Merrimac’s median lifting to $380,000 (a 25% uptick, potentially due to the new developments in the area), a vacancy rate of 1.03% and an estimated yield at the 6.1% mark.
Sage represents one of the few entry level projects on the Gold Coast and has also seen a high level of investor enquiry.
"The majority of the apartments we have sold to date have been taken up by interstate investors and local first home buyers who wanted an affordable property with potential for growth, in a central location," she said.
"While Sage is considered entry level stock, purchasers are also saying that they are extremely impressed by the high quality of fittings and finishes in the apartments.”
Their display apartment is open next month, with their first building of 24 apartments completed in early-2015. Body corporate fees are $47 per week for some apartments.
Sage Apartments were recently labeled a “Matusik Property Pick” for these seven reasons:
<ol>
<li>Quality stock, well-priced, well-designed. 
</li>
<li>Population growth area, with growth stronger than projected. 
</li>
<li>Undersupply is evident with greatest rental demand for affordable attached dwellings. 
</li>
<li>Strong demand from young rental and first home buyer market, plus locals downsizing. 
</li>
<li>Tight local vacancy rate. 
</li>
<li>Over 67,500 people work in the local area with a strong employment backbone. 
</li>
<li>The Gold Coast market generally is in a recovery upswing.</li>
</ol>
Meanwhile, Hope Island’s Azzura Greens is a resort complex for holiday purchasers, rather than for standard residential buyers.
A few properties are available, such as a two bedroom, two ensuite offering for $357,000 on the top floor. It also includes a car park.
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Two new Gold Coast developments offering sub-$400,000 options

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Four new townhouses at Burleigh Heads are on the market through Ray White Burleigh Waters’ Mark Stafford, who notes it’s the first of this type of development in seven years.
Developed by Bob England, the development at 17 Stephens Street, Burleigh Heads includes four townhouses with three bedrooms, two bathrooms and powder rooms in each.
Stafford notes that the demand in <a href="/news">Burleigh Heads</a> has been substantial, with new developments needed in the area.
“Last year Burleigh Heads saw capital growth of 14.9%,” he said.
“The market is hot and there are no signs of it slowing down. This development is built by one of the most respected builders in the area and we anticipate a high level of interest throughout the marketing campaign.”
The main bedrooms include private balconies.
Local and interstate buyer interest is anticipated, with an ‘offers to purchase’ campaign beginning on Saturday 26 September, closing 23 October.
The current median house price for the area, according to RP Data, sits at $588,000, with units recording a $375,000 median.
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New Burleigh Heads townhouses on the market from Bob England

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Six new residential projects are set to be launched on the Gold Coast within the next 60 days, marking the beginning of a new surge in development in the area, according to Colliers International.
Director of residential at Colliers International, Tony Holland, called the Gold Coast the most undervalued property market in the country at present, with a growth phase around the corner.
This, Holland said, is a continuation on from the demand and growth seen across Sydney, Melbourne and now Brisbane.
“The number of cranes in the sky is likely to double in six months’ time with a number of developers now moving forward with launching their projects to market in the next 60 days,” he said.
These are the six residential developments that Colliers are going to be selling in the coming weeks:
<ul>
<li>Beachside highrise tower featuring 219 apartments in central Broadbeach 
</li>
<li>Residential development of 386 apartments, overlooking the Glades Golf Course Robina 
</li>
<li>Southport CBD highrise tower featuring 221 apartments 
</li>
<li>Land and villa estate at Hope Island 
</li>
<li>Residential land estate at Kingscliff in Northern NSW 
</li>
<li>Residential villa development at Casuarina Beach</li>
</ul>
However, it’s not just the projects themselves that will be behind a surge, but the reasons for their projects and the drivers of developer confidence that have seen them acquire the sites over the past three to five years, obtain development approval and then hold off waiting for the right time to launch. “They can see that the time is right, with new apartment supply at 30 year lows, combined with record low interest rates, a buoyant Sydney, Melbourne and Brisbane property market and ever increasing demand from the Asian market,” he said. The level of activity that will be driven on the Gold Coast has not been seen since 2007/2008, he said. “In addition to these releases, there are a number of projects expected to launch during 2016, few of which are located along the traditional beachside strip. However Southport is another area that has attracted significant developer activity, after the Gold Coast City Council declared it a Priority Development Area (PDA) late last year.”
Developers' confidence of is in part due to the now complete light rail, the currently under construction Commonwealth Games 2018 infrastructure and announced plans for a $345 million hotel tower at Jupiter’s Casino by Echo Group. Further infrastructure, including a $300 million redevelopment of Pacific Fair Shopping Centre, and the <a href="/expert-insights/buying/after-cup-of-tea-for-pm-abbott-wang-jianlin-commits-to-jewel-surfers-paradise-development">Jewel development from China’s Wanda Group</a> and Ridong Group, are also reported confidence builders, with the planned Wavebreak Island redevelopment with potential second casino a further potential boost.
YOU MIGHT ALSO WANT TO READ:
<a href="/expert-insights/buying/now-looks-like-a-good-time-to-buy-a-gold-coast-investment">Now looks like a good time to buy a Gold Coast investment:</a> Michael Matusik <a href="/expert-insights/buying/wave-of-investors-crashing-gold-coast-auctions-buyers-agent">Wave of investors crashing Gold Coast auctions: Buyer's agent</a> <a href="/expert-insights/investing/gold-coast-enters-growth-phase-but-is-it-really-a-good-place-to-invest">Gold Coast enters growth phase, but is it really a good place to invest?</a> Terry Ryder answers
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Six residential projects launching in 60 days setting the Gold Coast up for a surge: Colliers

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Strong investor and home buyer interest are behind increased attendances at Gold Coast auctions, according to Gold Coast buyer’s agent Tony Coughran.
With more investors turning their attention to the coast’s affordable opportunities, Coughran said that there’s no doubt the market is heating up.
“Interstate investors have finally taken their hands out of their pockets and are coming up in droves.
“Many are diversifying their portfolios as they move away from the affordability issues, poor returns and peaked out growth in strong Sydney and Melbourne markets,” he said.
He noted that some are investing now to get ahead of future growth, with plans to move in within a five-year time frame.
“Some are seeing value in lifestyle units, purchasing as an investment to be used partially for family getaways and then renting through peak periods for premium holiday returns,” he said.
However, high end houses are also in demand. He noted the sale of six bedroom waterfront 122 Tallebudgera Drive, Palm Beach which went to auction in early September securing a result of $1.35 million.
“At a recent auction I attended, one buyer hardly even got a shot in with two bidders in a room of 80 battling it out with their hearts and ultimately paying in excess of more than $90,000,” he said.
“The duplex had a fair market value of $720,000 but sold under the hammer for an astonishing $817,000.”
He warned investors to keep their emotions in check with these sorts of auctions to become more common, noting that his criteria for a property is 5% to 7% minimum gross yield, low vacancy rates and little or low body corporate fees.
“Locations close to the beach or outdoor attractions and infrastructure are preferable as are properties in sought after school areas,” he said.
“I also look for properties that have a point of difference – a second bathroom, extra car accommodation or side access, and those that offer opportunities to maximise depreciation benefits, if you can.”
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Wave of investors crashing Gold Coast auctions: Buyer's agent

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Time on market stretched across much of the country during August, with the noticeable exception of the Gold Coast.
Days on market dipped to 95 days for Gold Coast private treaty offerings, according to the Domain Group's Australian Property Monitors.
Brisbane days on market jumped back to 110 days.
 <img src="/images/2014/09/03/apm-chart-sept-3-one.jpg" alt="">
 
The required discount to secure a sale remained the lowest in Sydney at 4.9%.
The rat of the cities sat within a very tight 6% to 6.2% range.
 
<img src="/images/2014/09/03/apm-chart-sept-3-two.jpg" alt="">
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jchancellor-FAypfDUnLy

Gold Coast residential property market improvement continues: APM 

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China’s richest man, Wang Jianlin, has committed $HK12.5 billion ($1.7 billion) to invest in Australian real estate including the construction of the Jewel, a $900 million beachfront resort on the Gold Coast.
Mr Wang, the chairman of the Hong Kong-listed Wanda Group, made the announcement to the Hong Kong Stock Exchange yesterday.
The Jewel project has approval for a triple-tower project on a 1.13 hectare site, including 110 metres of beachfront, in Surfers Paradise.
It expects the total capital commitment by Wanda to be $290 million.
As recently reported in Property Observer, the Wanda Group had been <a href="/news/chinas-richest-man-wang-jianlin-close-to-buying-into-surfers-paradise-development-site">finalising plans to take what emerged as </a><a href="/news/chinas-richest-man-wang-jianlin-close-to-buying-into-surfers-paradise-development-site">a 55% stake in the joint ventur</a>e.
Mr Wang, who holds top spot on the Forbes China Rich List, recently visited the Trade and Investment Minister Andrew Robb.
Property Observer gathers Mr Wang gifted Prime Minister Tony Abbott with an authentic Auratic china tea set and some Tong Quing Hao tea which is now in use at the Lodge in Canberra. 
Wanda Group said it would pay for The Jewel through internal resources and a mixture of debt and equity. 
The remaining stake will be held by the <a href="/news/ridong-billionaire-riyu-li-buys-bellagio-la-villa-the-gold-coast-hinterland-mansion">Ridong Group’s Riyu Li</a> and Fengliu Wu, the partners having granted unconditional put and call options.
“The board believes that given the unique location of the Jewel property and its unobstructed waterfront views along the Surfers Paradise of Gold Coast, the company is confident it can maximise the development value of the Jewel property and generate attractive returns on this investment,” it said.
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After cup of tea for PM Abbott, Wang Jianlin commits to Jewel, Surfers Paradise development

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Ray White is set to host a combined commercial property auction in Broadbeach next month.
The August 15 event will see 12 properties up for sale from Ray White Commercial Southport, Ray White Industrial Gold Coast and Ray White Commercial Gold Coast.
Auctioneer Richard Impiombato said there is a diverse mix of properties on offer, from office complexes to development sites and retail assets.
“The listings come from as far south as Burleigh Heads to as far as north as Eagleby in Logan City,” said Impiombato, who expects a strong turnout for the auction.
“We have an impressive line-up of properties including a modern warehouse/showroom complex at 3/2 Breakwater Street, Merrimac, being<a href="https://www.commercialview.com.au/unit-3-2-6-breakwater-street-merrimac/commercial-both-details-6921967" target="_blank"> marketed by Kristoffer Sonter of Ray White Commercial</a> Southport,” he said (pictured above).
“Another standout listing is a standalone headquarter building at 34 Nerang St, Nerang, which has three levels of office space and basement parking for 30 vehicles." <a href="https://www.raywhite.com/qld/southport/1150543/" target="_blank">The office block</a>, marketed by Wayne Devenport of Ray White Commercial Southport, is pictured below.
<img src="/images/2014/07/30/comm2.jpg" alt="">
The auction is scheduled for 11am on Friday, August 15 at the Gold Coast Convention Centre, Broadbeach.
It's planned to be the first of a regular series of combined commercial property auctions, with others scheduled for October, November and December.
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Twelve commercial properties up for grabs at Gold Coast auction event

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Even billionaires can get it wrong - especially with Gold Coast sky-high mansions.
The tobacco king Sergey Katsiev sold his 48th floor Circle on Cavill penthouse for $3.2 million to a wealthy Australian investor.
But he's $2.25 million out of pocket.
The Surfers Paradise apartment, one of the city’s largest at 669 square metres, sold to Katsiev and his wife Liudmila Katsiev for $5.45 million in mid-2006.
He has a $1.6 billion tobacco fortune, according to <a href="https://www.forbes.com/profile/sergei-katsiev/" target="_blank">Forbes magazine</a> which says Katsiev made his fortune in tobacco after the fall of the Soviet Union. 
From 1991 to 1993 he worked in the government trade mission to the Netherlands.
 When he returned to Russia, he headed Mercury Tobacco Corporation, an importer of tobacco products owned by billionaire Igor Kesaev. In 1998 Katsiev founded his own company, Megapolis, which also sold tobacco products. 
In 2006 Katsiev and Kesaev merged their companies. Megapolis is now Russia's largest seller of tobacco products. 
In 2012 the company's revenues exceeded $12 billion. In one of the biggest-ever deals in the Russian consumer market, in December 2013 Philip Morris and Japan Tobacco International (JTI) announced they would each buy a 20% stake in Megapolis for a combined $1.5 billion.
<a href="https://www.realestate.com.au/property-apartment-qld-surfers+paradise-117277055" target="_blank">Ray White Surfers Paradise sales agent Tolemy Stevens</a> secured the sale last week.
Circle on Cavill was developed by Sunland with around 650 apartments in 2007.
It includes two residential towers adjacent to the retail and office complex, which comprises ground-floor retail and A-grade office space, open-air restaurants and cafes.
International tourists liked the centre on its opening for its upmarket fashion labels.
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Circle on Cavill, Surfers Paradise price plunge for Russian billionaire

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The Gold Coast market has finally entered a recovery.
<a href="https://matusikmissive.com.au/wp-content/uploads/2014/05/Gold-Coast-area-image-for-missive.jpg"><img class="alignnone size-full wp-image-7281" src="https://matusikmissive.com.au/wp-content/uploads/2014/05/Gold-Coast-area-image-for-missive.jpg" alt="Gold Coast area - image for missive"></a>
This recovery started in earnest this year.  It followed a market correction and long stagnation period.  This ‘reset and rest’ was needed, as the Gold Coast had overheated in terms of price and even rents in the mid-to-late 2000s.  Property values on the Gold Coast appreciated in the order of 165% between 2001 and 2008.
What next?
This time around, values are expected to lift, but mildly in comparison.  Potentially, house values could rise by another 9% and attached property values by as much as 11%.  This takes into account the current low interest rate setting.
The Gold Coast’s current recovery and pending upturn is likely to be short in duration this cycle, with the market peaking in early 2016, depending on interest rate movements, local employment trends and dwelling supply.
Demand
One of the driving factors behind the Gold Coast property market and overall economy is its population growth.  The already high rate of population growth is expected to accelerate in the future.  Much of this growth is imported, from interstate and overseas.
<a href="https://matusikmissive.com.au/wp-content/uploads/2014/06/GC-Report-P.-12.jpg"><img class="alignnone size-full wp-image-7284" src="https://matusikmissive.com.au/wp-content/uploads/2014/06/GC-Report-P.-12.jpg" alt="GC Report P. 12"></a>
The Gold Coast also has a relatively young demographic profile, with the strongest demand over the next 10 years coming from young renters and first home buyers.
This will see the need for more affordable property.  This will likely fuel the need more townhouses plus one and two-bedroom apartments in low-to-midrise developments, mostly, away from the beach.
The size of the downsizing market is also quite large and this market, too, is looking towards smaller dwellings, but at affordable prices and in their local area.
Again, the key message here is affordable dwellings.  On average, Gold Coast households have limited income.  Increasingly detached housing is priced out of the majority’s reach.
What to buy
Investors should look to buy property priced largely under $400,000 for second-hand stock; under $500,000 for new apartments and house and land.  Property at these price points should be met with strong rental demand and should attract owner-resident buyer interest at presale.
Another big plus to the Gold Coast property cycle this time around is the undersupply of new stock and also the very tight local rental market.
Despite all the hoop-la about the Commonwealth Games, employment growth on the Gold Coast – or the general lack of it – remains a drag on the local economy and dwelling price growth.
Whilst speaking about jobs, investors should look to buy property in or within close proximity to the Gold Coast’s major employment nodes. These include Robina/Varsity Lakes and Southport/Benowa.
Moving forward
With already over 500,000 permanent residents; strong population growth, a young demographic profile and tight supply (at present), the Gold Coast property market is in its best shape for almost a decade.
We stress that the Gold Coast property play moving forward is more about jobs and buying what I call “capital city stock” rather than the traditional lifestyle coastal property. So beachfront, top-end, luxury homes or apartments might not make the best investment on the Gold Coast for the next cycle or two – the underlying demographics don’t really support such.
Our modelling suggests a growing need for more residential construction on the Gold Coast and this will further help increase employment. The city has a very strong future Property Pulse™ suggesting a growing demand for property in the region.  We stress, however, that until jobs and incomes improve on the Gold Coast, price growth, despite rising demand, will be constrained.
Final word
Now looks like a good time to buy a Gold Coast investment.  Prices should increase over the next 12 to 24 months.  Rents are rising.  But investors need to buy affordable, mainstream rental property, not lifestyle-orientated stock.
Visit Michael's <a href="https://www.matusik.com.au/" target="_blank">website</a>, read <a href="https://www.matusikmissive.com.au/" target="_blank" rel="nofollow">his blog</a>, follow him on <a href="https://www.facebook.com/ThinkMatusik?fref=ts" target="_blank" rel="nofollow">Facebook</a> and <a href="https://www.twitter.com/michaelmatusik" target="_blank" rel="nofollow">Twitter</a>, or connect via <a href="https://www.linkedin.com/in/michaelmatusik" rel="nofollow">LinkedIn</a>.
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