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

Melbourne

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Units in Melbourne, the NSW Central Coast, the Gold Coast and Newcastle are at the peak of the market according to the July property clock from Herron Todd White.
Apartments in Cairns, Townsville and the Whitsundays are ranked at the bottom of the market.
Apartments in Sydney, Ballarat and Dubbo are approaching the peak of market.
Melbourne, Coffs Harbour, the Gold Coast and Newcastle were at market peak last month too.
<a href="https://www.propertyobserver.com.au/images/2017/07/11/Screen%20Shot%202017-07-11%20at%208.47.56%20AM.png" target="_blank">Click to enlarge</a>
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According to HTW, inner city Melbourne continues to be the fastest growing capital city in Australia, driven by migration from both interstate, regional and overseas areas which in turn creates higher demand.
HTW said the Melbourne CBD and inner city suburbs residential market has remained steady throughout the year, with rental returns generally ranging between 3 percent and 6 percent. 
"At an entry point of $500,000 you will not be able to purchase a detached dwelling, terrace or townhouse, however, 1-bedroom or compact 2-bedroom apartments with a car space may be available," HTW said.
"In response to the growing demand, Melbourne city planners have been green-lighting new medium rise and high-rise residential developments. 
"Many new apartment buildings are nearing completion and many more are currently being built or are approved for construction, adding growing concerns of apartment oversupply which has been covered extensively in previous reports."
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j.ballantyne1990-6AQqhLzZaK

Melbourne apartments at peak of market: HTW July property clock

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Melbourne real estate agencies — JRW Property Investments and Barry Plant Glenroy — have been found to be underquoting by a Victorian taskforce, after the new laws on such practice came into force on May 1. 
JRW Property Investments and Barry Plant Glenroy acknowledged they violated consumer and property laws relating to house sales after investigations by Consumer Affairs Victoria, its website said in a release.
Taskforce Vesta, which conducted the investigations, was formed in 2015 to address concerns about agents misleading prospective buyers about the likely selling price of a property.
The final two active investigations concluded with Consumer Affairs Victoria accepting enforceable undertakings from JRW Property Investments Pty Ltd (ACN: 122 029 725) and Superior Realty Pty Ltd – trading as Barry Plant Glenroy (ACN: 098 225 248).
JRW Property Investments and Barry Plant Glenroy will contribute $75,000 and $45,000, respectively, to the Victorian Consumer Law Fund, for misleading and deceptive price advertising, including underquoting.
Both companies have also agreed to implement a compliance programme and display a public notice at their respective company offices.
The taskforce inspected the offices of 34 selling agents, and examined 1,400 sales files, leading to 14 major investigations, Consumer Affairs Victoria said.
The changes to the Estate Agents Act 1980 requires estate agents or agents' representatives selling residential property to set an estimated selling price that is reasonable and takes into account the prices of the three most comparable property sales in the area.
The agents must “consider the standard, condition and location of the property and the date of sale, when selecting the most comparable property sales” says a note on the Consumer Affairs Victoria website.
They are also required to inform the seller and update the sales authority if the estimated selling price changes.
The underquoting investigations have led to the commencement of six cases in the courts and tribunals, and the acceptance of six enforceable undertakings.
The penalties for underquoting can be more than $31,000 and loss of sales commission.
The new laws will only apply to properties for which the seller signs a sales authority on or after May 1.
JRW Property International advertised a Glen Waverley property for $800,000 despite the estimated selling range being $950,000 to $1.045 million, reported the Herald Sun. 
The agency also told prospective buyers in Wheelers Hill a property was expected to sell for about $1.1 million despite the vendor asking for a reserve price of $1.5 million.
Barry Plant Glenroy’s breaches included a Meadows Heights property advertised at $450,000-plus despite the vendor nominating a reserve price of $500,000.
Also, a Broadmeadows property advertised at $300,000-plus despite the vendor not being prepared to sell beneath $340,000.
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jonathanchancellor-7SQnKwU6yx

Two Melbourne real estate agencies face the music for underquoting 

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Melbourne's apartment market is showing signs of maturing, with more new sales occurring outside the CBD than in the city centre.
It was for the first time, the latest figures from consultancy Urbis show.
As many as 267 unit sales, or 58 per cent of the March quarter's total, were in the middle ring of the Victorian capital.
Within the city's inner ring most sales were outside the central precinct, Urbis's Melbourne Apartment Essentials Q1 2017 report calculated.
One-bedroom, one-bathroom, one-car product accounted for 18% of total sales.
The advisory noted Victoria has undershot NSW in the number of new apartments over the past decade.
The southern state approved 227,500 new units over the decade to April while north of the border the equivalent figure was 255,150.
Melbourne's apartment boom has been more concentrated in the city centre while Sydney's growth has always been more dispersed across the metropolitan area.
<a href="https://www.propertyobserver.com.au/images/2017/07/10/MelbActiveSupply.png" target="_blank">Click to enlarge</a>
 <img src="https://www.urban.com.au/images/2017/07/10/MelbActiveSupply.png" alt="">
Uris suggest the picture in Melbourne is changing.
"Apartment living is no longer just for CBD dwellers," said Urbis director of property economics and research Mark Dawson.
"Moonee Ponds, Heidelberg and Footscray are all markets that we have seen emerge over the past few years."
Mr Dawson expects project launches, and sales volumes, to drop back as the market continues to self-regulate.
“We expect to see fewer project launches which will ensure the market maintains a healthy balance of supply and demand.”
“Of the projects we monitor, 82% of stock has been sold.
"At this stage of the market it is not about a large reduction in sales or drop in price, but a change in the type of sales we are seeing and where apartments are selling.”  
The apartment spread is changing within inner-city Melbourne as well. Sales in suburbs, such as Carlton in the inner north, exceeded those in the city's centre for the first time, the report also shows.
<a href="https://www.propertyobserver.com.au/images/2017/07/10/MelbQtrPrice.png" target="_blank">Click to enlarge</a>
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"Precincts like the inner north, which captured 43 per cent of total inner Melbourne sales, are well set up for apartment living," Dawson said. "They provide residents with easy access to transport and neighbourhood character, as well as an affordable entry-point to the market."
Melbourne apartment sales are down, Urbis said.
Four new projects launched during the quarter, for a total 1471 units, while a year earlier 2878 units were launched across 14 projects.
The average weighted sales price of apartments in the March quarter gained $44,476 from December to $706,391, boosted by an increase in the proportion of two-bedroom, two-bathroom apartments. This reflected a growing demand by owner-occupiers compared with investors, Mr Dawson said.
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New apartment sales in Melbourne suburbs beat CBD deals: Urbis 

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GUEST OBSERVER
Commercial short-stay companies like Airbnb will this year deprive the Victorian Government of more than $14 million in uncollected GST.
Airbnb, and similar operators, only collect GST on the 5 percent to 15 percent ‘service fee’, rather than the entire booking cost. This means the state misses out on up to 95 percent of the GST applicable under current legislation. But conversely – or perversely –, this year hosts will pick up an extra bill, with the Australian Tax Office signalling a tax crackdown on users of the app.
It’s hardly fair that Airbnb gets out of paying millions in GST, while mum and dad hosts who simply rent a room, are not only subject to income tax, but are actually being targeted by the tax office.
How on Earth can a person renting out a room in their house be considered to be running an income–producing business, while on the other hand the multinational rental company doesn’t have to pay its fair share?
Victorians are missing out on millions of dollars every year, while Airbnb’s profits continue to grow, and that’s where the focus should be.
Airbnb alone had 651,000 guests last year and grew at a rate of 116%. It’s only fair that legislation is updated to recognise the rise of this unregulated industry, so Airbnb pays its share, along with other overseas companies.
Airbnb admits other countries require the company to collect GST on the entire booking cost, so why isn’t it happening here?
The Federal Government should learn from those other countries and also require Airbnb to collect and pay its proper, fair share of GST in Australia, based on the booking fee, not just the service fee.
The industry also avoids commercial rates from being imposed by local Councils, by relying on their land use activity being classified as a residential activity.
Come on – Airbnb is not a residential activity, it’s a business activity, and a loud, disruptive, unregulated and unfair one at that.
A Parliamentary Committee examining the commercial short-stay industry has heard a range of submissions, calling for Airbnb, and similar overseas companies, to pay GST and other taxes.
The Committee has also made a series of recommendations to the Victorian Government, including that it:
• Considers that the current proposed legislation is unfair to residents and should be reworked. • Works with Victoria Police to examine safety issues in residential complexes with short-stay activity. • Works with Victoria Police to consider establishing protocols to manage violent and disruptive incidents. • Reviews the regulatory imbalance between the short-stay and traditional accommodation sectors. • Investigates costs and benefits of introducing a registration and compliance framework for commercialresidential short-stay accommodation (where properties are listed as short-stays for more than 90 days).
We Live Here is a growing movement of residents from across Victoria, dealing with significant detrimental impacts due to the rapid, unregulated rise of the commercial short stay industry.
The concerns relate to safety and security, higher maintenance costs due to increased wear and tear, and disruption through ‘party houses’.
We have been encouraged by the level of support we are receiving across the state, from people who share our concerns
Residents from more than 200 buildings have joined We Live Here, along with locals from suburbs, and towns, across the state.
Clearly, the government needs to act on these concerns and bring legislation into line for this massive industry. We need a solution which puts residents, businesses and the tourism industry on a level playing field.
Ensuring these giant overseas companies pay their fair share of tax on the millions they make in Victoria, is just one of many issues that require urgent attention, when it comes to the commercial short-stay industry.
Marshall Delves is from <a href="https://www.welivehere.net" target="_blank">We Live Here</a>.
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jchancellor-FAypfDUnLy

Airbnb escapes tax time crackdown, but mum & dad hosts left with a bill: Marshall Delves

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GUEST OBSERVER
Over 10,000 cyclists commute into Melbourne’s inner city every morning.
Many popular routes are located along residential streets. Secret Agent wanted to find out if the presence of a bicycle lane had any impact on house sale prices within a suburb. 
Our sample consisted of 103 period house sales in Carlton North, 83 houses in Clifton Hill and 121 houses in Fitzroy North from 25 May 2015 to 8 June 2017. At least a third of the sample from each suburb consisted of houses facing bike paths.
A bicycle lane was defined as a pathway for cyclists clearly distinguished on both sides (left and right) from street parking and the main motorist thoroughfare. Lanes with a bicycle symbol on the road, but without clear delineation on either side, were excluded. 
A hedonic linear regression model was used to study the effect of having a bicycle lane on the sale price of the property in each suburb. Other factors taken into account included the sale date, land area, number of bedrooms, bathrooms and car spaces.
We found that the presence of a bicycle lane had a strong positive effect on the sale price of a house in Carlton North, adding up to $250,000 in value. With
a median sale price of $1,371,000, this implies a premium of nearly 20%.
However, it had little to no effect on houses in Clifton Hill and Fitzroy North.
This result isn’t to be read merely on face value. The price premium in Carlton North could very well be a result of many positive characteristics combined - one of which is a bicycle lane. A street with a bike path in this suburb tends to have wider roads, more vegetation and even a median strip. These greener, wider streets boost social appeal and safety, adding up to a rather attractive streetscape for prospective buyers, as evident by the prominence of Drummond, Rathdowne and Canning streets. 
A three bedroom house on 288 Richardson Street, Carlton North, recently sold for $1,550,000.
<img src="https://www.urban.com.au/images/2017/07/07/Screen%20Shot%202017-07-07%20at%209.51.47%20AM.png" alt="">
A two bedroom house with two bathrooms, <a href="https://www.realestate.com.au/property-house-vic-carlton+north-125856038" target="_blank">384 Canning Street </a>Carlton North, is up for auction with expectations between $1.5 and $1.6 million.
<img src="https://www.urban.com.au/images/2017/07/07/Screen%20Shot%202017-07-07%20at%209.59.24%20AM.png" alt="">
 
For more information, <a href="https://secretagent.com.au/">click here</a>.
 
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Carlton North homes benefit from bicycle lanes: Secret Agent

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A development site with permit for townhouses in Melbourne’s south-east suburb of McKinnon has sold for $2,360,000 through Savills.
The <a href="https://www.realcommercial.com.au/property-land+development-vic-mckinnon-502411994" target="_blank">9 Station Avenue</a> site has an area of 824 sqm and is situated within a sought-after location with easy access to shops and public transport, according to the property’s description.
The site is zoned General Residential Zone 1 and recently got approval for an eight-townhouse project designed by the Urban Design Architects.
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/05/Townhouse.jpg" alt="">
McKinnon is a high demand suburb in Melbourne’s south-east with a strong median house price of $1,680,500, according to Savills.
The site is located close to cafes, retailers and close to the newly redeveloped McKinnon Train Station.
The selling agents were Nick Peden, Benson Zhou, Julian Heatherich and Jesse Radisich of Savills.
The site was last put on the market in 1993, but the transaction price wasn't disclosed, according to Corelogic RP Data.
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Townhouse site in Melbourne’s McKinnon sells for $2.3 million through Savills

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The North East region of Melbourne had the highest auction weekend clearance rate, according to CoreLogic’s latest report.
The property data firm says that out of the 99 auctions known to CoreLogic the North East region achieved a clearance rate of 80.8%.
This was followed by Mornington Peninsula with 80% and the Outer East with 78%.
<a href="https://www.propertyobserver.com.au/images/2017/07/03/Screen%20Shot%202017-07-03%20at%2011.22.52%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/03/Screen%20Shot%202017-07-03%20at%2011.22.52%20am.jpg" alt="">
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-preston-125654066" target="_blank">4 Benambra Street</a>, Preston (above) was sold over the weekend for $1.249 million.
It was last sold in 1978 for $31,000.
Similarly a three bedroom townhouse at <a href="https://www.realestate.com.au/sold/property-townhouse-vic-preston-125628474" target="_blank">1/103 Bruce Street</a>, Preston (below) was sold for $965,000 over the weekend.
Built in 2005 it was last sold in 2006 for $325,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/03/1_103%20Bruce%20Street.jpg" alt="">
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Melbourne's North East region takes top spot in weekend auction clearance rates: CoreLogic

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Melbourne has the tightest yields for houses while Sydney has the tightest for units, according to CoreLogic’s latest index report.
The property data firm says that Melbourne’s house yield sits at 2.6%.
Sydney follows behind with a 2.8% yield while Hobart and Darwin have the highest yields for houses. 
For units Melbourne's 4.2% yield is ranked second behind Sydney's 3.7% yield.
 
<a href="https://www.propertyobserver.com.au/images/2017/07/03/Screen%20Shot%202017-07-03%20at%2012.47.15%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/03/Screen%20Shot%202017-07-03%20at%2012.47.15%20pm.jpg" alt="">
 
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Melbourne has tightest housing yields: CoreLogic

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Renting in Inner Melbourne has a greater risk of increased premium, according to Secret Agent’s latest bulletin.
“An investor should be looking to try and maximise yield when finding a rental property.
“However, they also need to be mindful of the relationship between yield and risk.
“Often a higher yield can mean more risk, such as oversupply," the report noted.
“The higher yield of inner Melbourne (5.3 percent) reflects the greater risk premium.
<a href="https://www.propertyobserver.com.au/images/2017/06/23/Screen%20Shot%202017-06-23%20at%2010.29.42%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/23/Screen%20Shot%202017-06-23%20at%2010.29.42%20am.jpg" alt="">
“East Melbourne which offers a tight yield of 3.47 percent is the ultimate blue chip location, however the yield isn’t too attractive.
“Be careful of looking solely at yield to making investment decisions.
“It’s possible to obtain yields above 10 percent in remote regional locations, but once a tenant has vacated, it may be a long time before another tenant is discovered,” the bulletin stated.
For more information from Secret Agent, <a href="https://secretagent.com.au/">click here</a>.
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The higher the rental yield, the higher the risk: Secret Agent

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A sophisticated one-bedroom apartment in Melbourne’s South Yarra development Fifty Five Claremont is being offered to investors with promises of $24,000 savings on stamp duty if bought before June 30.
The Victoria government has previously announced it will remove off-the-plan stamp duty concessions on investment properties from July 1 in a bid to encourage first-home buyers and ease the affordability crisis.
Apartment 1103 — <a href="https://55claremont.com/" target="_blank">The Alexandra</a> — is priced at $539,000 and also a promises ‘guaranteed’ 6 percent p.a. rental for the first two years.
The ad says it is a “signature Michael Yates development” with views of the Yarra River and five-star hotel-style amenities.
The 56 sqm is part of a development of 37 apartments on 17 levels, with only three apartments on each floor.
The design is by Bird de la Coeur Architects.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/26/Alexandra.jpg" alt="">
The apartment comes with crafted modular kitchens with Gaggenau appliances and oak flooring.
It is close to Melbourne’s Chapel St and Toorak Road cafés and shopping.
The display suite is at Shop 4, Yarra Lane South Yarra and completion is expected by the end of 2017.
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