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.
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[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

Melbourne

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Daniel Wayne Auld, an unregistered builder, was fined $4,500 in the Sunshine Magistrates’ Court, following an action by Consumer Affairs Victoria relating to his work at a property in Spotswood.
Mr Auld, 31, of Sunshine West, trading as Timbertec Carpentry &amp; Constructions, pleaded guilty to various breaches of the Domestic Building Contracts Act 1995, the Building Act 1993 and the Australian Consumer Law (Victoria).  
As well as not being a registered builder at any relevant time, Mr Auld also:
<ul>
<li>took an initial deposit of 40% of the contract price. By law, the maximum deposit a builder can ask for is 10% (for works of less than $20,000) or 5% (for works of $20,000 or more)</li>
<li>failed to provide his client with a contract that included all the information legally required  </li>
<li>failed to complete the work within the time period specified or a within a reasonable time</li>
<li>carried out work while unregistered.</li>
</ul>
 The work Mr Auld was hired to complete included:
<ul>
<li>demolishing existing bathrooms, plumbing, plastering, tiling and installation of bathroom cabinetry and fittings</li>
<li>installing kitchen splashbacks and stair rails</li>
<li>laying floorboards</li>
<li>painting the house’s interior.</li>
</ul>
As well as the fine, Mr Auld was also ordered to pay $250 in court costs.
All fines must be paid to the Domestic Builders Fund. 
 
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j.ballantyne1990-6AQqhLzZaK

Melbourne builder caught taking 40% deposit of contract price

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The Savills International Melbourne commercial and investment property sales team have embarked on a sales pitch of their own, promoting the extent of their recent property sales across the Melbourne CBD.  
The graphic, below, highlights the recent commercial property sales, retail, office and residential development sites.
<a href="/images/2015/11/25/700_1500_chart.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/11/25/700_1500_chart.jpg" alt="" width="721" height="359">
 
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jonathanchancellor-7SQnKwU6yx

Melbourne CBD commercial sales breakdown: Savills 

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A boutique site in Melbourne CBD with an approved permit for a 34-level apartment tower comprising 89 apartments is up for sale.
The site at <a href="https://www.realcommercial.com.au/property-land+development-vic-melbourne-501727429" target="_blank">9-11 Exploration Lane</a> has a land area of 168 square metres.
The site has a fully approved permit for a project designed by architect Rothe Lowman.
It is listed by agents Nick Peden and Clinton Baxter of Savills.
The East End CBD location is close to Melbourne Central train station.
"This offering is one of the best to hit the market for many years," Nick Peden said.
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Exploration Lane, Melbourne CBD site with permit for 34-level tower up for sale

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GUEST OBSERVER
A quarterly survey shows the Barry Plant Group is meeting escalating vendor price expectations in the vast majority of cases, and exceeding it an impressive 40%. 
The average property price achieved by our Group in September was 15.7% higher than for the same time last year. 
Rising property prices throughout Victoria have generally increased sellers’ expectation of sale price. 
Results were particularly strong in Melbourne’s east and southeast across both inner and outer markets, with areas such as Narre Warren reporting that 90% of sales exceeded seller expectation, followed closely by the cities of Monash and Manningham. Areas that have flown largely underneath the media radar, such as Frankston and Sunshine, also reported a figure of 90%, with Gladstone Park, Taylors Lakes and Mill Park recording similarly high numbers. 
The Reserve Bank’s move to curb investors has done little to dampen their enthusiasm, with 40% of Barry Plant’s 80 offices reporting strong investor activity, notably in the median-priced suburbs such as Frankston, Sunbury and Noble Park. Mildura, Rosebud and Geelong enjoyed strong investor interest in the non-metro sector. 
40% of the Group’s offices said that first homebuyer activity was still strong – most prominently in the outer suburbs, but some of the higher-priced areas such as Essendon, Blackburn and Mordialloc also featured. 
Properties in most suburbs are selling faster than they did at the end of the 2015 financial year, with 63% of offices reporting days on the market to be fewer. 
Just over half of the offices (56%) noted a shortfall in stock levels, primarily in the outer west and northern suburbs, while only 3 locations reported an oversupply. 
The results of the survey overall support our data showing that the market in the middle to outer suburbs is still strong and probably has some time to run still. 
 
Mike McCarthy is chief executive officer of the Barry Plant Group and can be contacted <a href="https://www.barryplant.com.au" target="_blank">here</a>.
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jchancellor-FAypfDUnLy

Results strong in Melbourne’s east, southeast: Barry Plant's Mike McCarthy

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GUEST OBSERVER
Cities are complex systems, some may even say messy systems. Many independent and concurrent decisions shape the experience, form and opportunities in a city. And many stakeholders have their views, their data and their interests without necessarily sharing with others.
Let us try to systematise the mess. A city consists of the physical, tangible, mostly immovable environment, the social component of people, institutions, workplaces or public transport, and the information infrastructure, from smartphones and urban dashboards to traffic counters and traffic lights.
The relationship of the physical, the social and information (the virtual) forms a triangle: people make decisions and interact with the world (for example, moving around, building); they consult with information systems (location-based services, taxi apps or maps); and information systems control parts of the world (building access, bus preference at intersections, or dynamic road pricing) and interact with people (for example, pushing messages).
 
<img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/102562/width668/image-20151119-18441-m4wjj1.png" alt=""> 
 
<h2>Highly connected but often hidden</h2>
Embedded in this picture is already a degree of connectivity unheard of only a couple of years ago. A rapid transformation of our cities is happening. This consists of three components: urban sensing, urban analytics and urban interaction. Each of these tells fascinating stories, and yet each is more or less hidden from attention.
Three short examples illustrate the potential of urban connectedness:
<ul>
<li>
Connected vehicles communicate with each other or with other transport infrastructure about their presence and intentions, thus allowing for early braking, avoiding congestion, or ad-hoc ride-sharing.
</li>
<li>
Smart waste bins sense their load and allow for optimising the routes of waste-collection teams, saving the cities significant dollars.
</li>
<li>
Open data provides access for citizens and entrepreneurs, enabling public participation as much as transparency and empowerment.
</li>
</ul>
How do we make use of this new level of connectedness? As an example, imagine you want to visit a market in the CBD on a Saturday.
Your first thought is to drive to the market, but you face the challenge of where to find a parking spot. Online services are starting to emerge that provide real-time data streams about where free parking spaces are available.
However, this information may just increase the traffic congestion as everyone heads for the same parking spot. What we need is the ability to harness these new sensor data streams using predictive analytics, which can predict when and where parking spaces are likely to be free soon.
Taking this a step further, we can envisage services that recommend the best time to leave home, or when to switch modes of transport. Rather than queueing for a parking spot at the market, we are advised to take advantage of cheaper parking spaces in the financial district (which is quiet on the weekend) and then take a free tram to the market.
<h2>Balancing access and privacy</h2>
These types of data-driven services have the potential to transform the way we interact with our city. And yet we need a critical consideration of unintended consequences, intrusion of privacy, or unequal access. 
An important challenge will be how to find a balance between ease of access to these data streams and the privacy of citizens in our urban environment. New developments in privacy-preserving data analytics are helping to make this possible. This is done by randomising the raw data, while still preserving the important trends in the aggregate data.
Let us close with an invitation to all Melburnians for a hands-on experience of urban connectedness. Until the end of November you can participate in a mobility survey using the sensors of your smartphone, and thereby sharing your day-to-day transport demand with researchers who explore ways to better inform governments on transport planning. Participants may be eligible for a $50 gift card. Click <a href="https://imod-au.info/">here</a> for details.
We think Melburnians are passionate about their transport system, and we want to look for ways to capture the joys and frustrations of travelling around this great city.
 
Stephan Winter is professor of spatial information, University of Melbourne and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/stephan-winter-13767" target="_blank">here</a>.
Christopher Leckie is professor of computer science, University of Melbourne and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/christopher-leckie-1922" target="_blank">here</a>.
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A city thrives on connectedness but access all hours makes privacy a problem

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Investors represent approximately 30% of the market for Horsham residential real estate according to Herron Todd White's November report.
The HTW month in review suggests that the recent changes to lending practices by major banks has seen the level of interest and demand in this sector of the market decline over recent months.
"Investors in the Horsham market tend to be mainly local buyers who live and work within the region.
"Typically, the first home buyer and investor market segments are much the same with the majority of investment properties in Horsham in the sub $300,000 price range."
The report added that recent changes to LVR’s and rental return requirements have not only knocked some investors out of the market but softened the demand within this market segment, caused largely by the increased equity and servicing components required for loans.
"Coupled with the current dry season for the local farming industry the value of housing in this sub $300,000 bracket is expected to stabilize after many months of positive growth.
"Units and dwellings that appeal to investors in the Horsham market typically comprise well renovated or near new accommodation that requires minimal maintenance and generally returns a 5% to 7.5% gross return." 
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jrobinson-rf4aSBido9

Local demand softens in sub-$300,000 Horsham investor market: HTW

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Middle south east and bayside regions appear to be attractive for investors, according to Herron Todd White's latest month in review.
The HTW November report states that depending on the property investors choose, they may invest in detached housing to get the negative gearing investment for tax benefits for future capital growth or development opportunities or they can invest in apartments with slower capital growth, but with high and stable rental yields. 
"Established areas provide a choice of different property types which can meet any investor’s goals. 
"Currently investors in middle south east and bayside regions are fairly active and are purchasing detached houses, townhouses, units and apartments."
The report also notes that outer south east regions appear to be mainly attractive to first home buyers and families with medium household income. 
"Investors are not very active at this stage due to low capital growth and consistent competition from the construction and development industry, which continue to offer affordable brand new housing. 
"Investors who purchase in outer south east regions are looking for investment diversity geographically and also to meet different investment targets such as finding long term tenants for stable rental yields."
Middle south east and bayside areas consist of local investors in established markets and mainly overseas investors for brand new strata townhouses and apartments, says the HTW November review.
"Bayside offers consistently strong capital growth with stable rental return of 4% to 4.5% for units.
"Rental yields for apartments and units experience a stronger rent in comparison to the housing market in general."
The report goes on to suggest that outer south east area is mainly dominated by local investors aiming to achieve long term stable cash flow in terms of rental income.
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"Investor goals can differ and therefore they will choose the market and area to meet their targets such as consistent cash flow, low vacancy rates and high rental yield. 
"Investors in the outer south east area are looking for long term tenants who will stay in the property for two to five years. 
"They are usually young families with children in primary school who are willing to rent a new detached house with private backyard and easy access to local parks, shopping and schools."
The HTW report shows that medium housing price in the outer south east area can range from $380,000 to $450,000 for a single storey dwelling and $550,000 to $630,000 for double storey residence. 
However investors in this region typically do not spend more than $500,000, with current rental yields in the outer south east area generally ranging from 4.5% to 5%, says the review.
"Townhouse and unit markets are emerging in outer south east areas and appear to be mostly an untested market. 
"Some developers offer limited stock of townhouses called “cityliving” which engage people by offering close proximity to schools and parks and to reside in particular estates at a more affordable price, whereas townhouses and units appear attractive in the bayside region due to higher land prices and more expensive detached housing."
Rental yields are also higher in the bayside area for townhouses and units compared to detached housing, says the report. 
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It also adds that investor activity within this area will not be as sustainable over the coming year as banks begin to lend less for investment properties. 
"The hardest hit properties will be off the plan apartments. 
"With the lack of confidence for investors combined with expected cash rate rises from the RBA on the horizon, it is unlikely that investment levels will grow in the medium term. 
"It has been suggested that not only would there be a decrease in house prices, but due to falling house values, home owners will cut back on spending as they will consider themselves to be worse off than before as their safest investment, bricks and mortar, has lost some of its market value."
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Townhouses an untested investor market in Melbourne's outer south east: HTW

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An apartment in Kingsville that sold for $228,000 was Melbourne's most affordable property sold at auction on the weekend.
The one bedroom, one bathroom modern apartment at <a href="https://www.realestate.com.au/property-unit-vic-kingsville-121138982" target="_blank">9/73 Kingsville Street</a> features a renovated kitchen, a master bedroom with walk in wardrobes and a separate, updated bathroom.
The property also comes with a car space and is located close to cafe's and the natural Cruickshank Park.
Leigh Melbourne of Greg Hocking Elly Partners was the selling agent.
The property last traded for $165,000 in 2004 - up 2.77% annually over 11 years.
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Kingsville Melbourne apartment the state's most affordable

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A leased industrial property north west of Melbourne's CBD on 201sqm has sold at auction for $789,000, $100,000 above reserve.
The property in Kensington, 22 Thompson Street, sold through Teska Carson's George Takis, who said  the single level, solid brick building of 180 square metres on a 210 square metre site is zoned Industrial 3, with frontages to Thompson Street, a right of carriageway to one sideand a rear laneway.
It was sold subject to a three year lease and further three year option at a rental of $19,422 per annum net.
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Melbourne CBD fringe warehouse sells on 2.4% retail yield

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Melbourne based property developer Central Equity has appointed Brookfield Multiplex to construct its new inner city apartment tower, Southbank Central.
The 48-level, $130 million project at 1-13 Balston Street will comprise 485 one, two and three bedroom residential apartments.
Southbank Central will also feature a six level podium with retail and resident facilities including a swimming pool and gym.
Graham Cottam, the megional managing director of Brookfield Multiplex Victoria said that Southbank Central represents Brookfield Multiplex’s 15th project for developer Central Equity.
Construction has already began and Southbank Central is scheduled for completion in the second half of 2017. 
Brookfield Multiplex has completed a number of Melbourne residential projects over the past two years including The Quays $180 million tower on the corner of Docklands and the Harbour Esplanade, Stage Two of the Upper West Side Apartments valued at $150 million and most recently the $300 million Prima Tower in Queensbridge Street, Southbank.
 
 
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