Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

Joel Robinson

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

IN BRIEF

<ul>
	<li>
	Just three double-storey Sky Homes sit at the top of The Waterline, each with its own private marina berth and rooftop terrace.
	</li>
	<li>
	Construction on The Waterline is complete, with the first residents expected to move in from mid-October.
	</li>
	<li>
	Sky Homes range from 282 sqm to 367 sqm and are priced from $3.65 million.
	</li>
</ul>

<hr />
Lewis Land has opened the first completed sky home for inspection at Harbour Shores, giving buyers their first opportunity to step inside one of just three double-storey residences crowning The Waterline.

Each sky home comes with its own private marina berth, rooftop terrace and Broadwater views, combining the scale of a larger home with direct access to the boating lifestyle that underpins the wider <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan.

[smartcode_project:default project_id=113271 project_image_fid=366708]

Lewis Land Head of Development Michael Long said the inclusion of a berth with every Sky Home had become increasingly valuable as marina access across the Gold Coast tightened.

“Marina berths are becoming increasingly difficult to secure across the Gold Coast, so including one with every Sky Home makes this a genuinely rare offering,” Long said.

“The private 70-berth marina will accommodate boats up to 12 metres in length and is positioned just 2.5 kilometres from the Broadwater, placing the open ocean only 15 minutes away.

“Being able to step out of your home onto your boat is a rare luxury, and it’s something residents here can look forward to when it opens later this year.”

[smartcode_project:default project_id=113271 project_image_fid=366709]

The display opening comes as construction completes on The Waterline, with the first residents expected to move in from mid-October.

The three Sky Homes range from 282 sqm to 367 sqm and each feature three bedrooms, three bathrooms, multiple living zones, expansive kitchens with butler's pantries and large balconies taking in the Broadwater outlook.

Each residence also has three secure basement car spaces and additional storage.

“This is the first opportunity the Gold Coast has had to step into Harbour Shores and see, touch and feel what we’re bringing to life here,” Long said.

“There are only three Sky Homes within The Waterline, ranging in size from 282sqm to 367sqm, with each residence featuring three large bedrooms, three bathrooms, multiple living zones, expansive custom-built kitchens with butler’s pantry, and large balconies capturing Broadwater views.”

<img alt="Harbour Shores" data-entity-type="file" data-entity-uuid="bab65e10-4fab-45e1-92d8-fc56e2ab98ff" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%202.00.16%E2%80%AFPM.png?VersionId=XT8q76LsPkw3cYTsvN3JfFDaPLud90PN" />

Residents of The Waterline will have access to a private pool, along with Harbour Shores' wider collection of amenity including a lagoon pool, social clubhouse, tennis court, gym, yoga facilities and sauna.

Lewis Land partnered with Studio Collective to furnish the completed display, with the interiors designed to demonstrate how the residences could function as permanent homes rather than simply as show apartments.

Studio Collective Director Melissa Park said the surrounding waterways informed the interiors, but in a more restrained way than a traditional coastal scheme.

“We drew inspiration from the canals and coastal surrounds, but our approach was to interpret that subtly through layered materials and a grounded palette of earthy tones, rather than literal coastal references,” Park said.

“We introduced hero moments of green and teal to reference the surrounding waterways, while mirrored elements help reflect natural light.

“The result is a residence that feels elevated yet comfortable, somewhere buyers can genuinely imagine themselves living, entertaining and unwinding.”

Sky Homes are priced from $3.65 million.

Lewis Land is also offering private marina berths with The Residences, its limited collection of three and four-bedroom villas positioned directly along the Harbour Shores waterfront boardwalk.

Three-bedroom villas are priced from $2.99 million, while four-bedroom residences start from $3.19 million.

Harbour Shores is being marketed by Colliers International.

[smartcode_project_cta:default project_id=113271]

Lewis Land opens sky home display as The Waterline completes at Harbour Shores

St Vincent de Paul Society Housing Australia has filed plans for a major mixed-use housing precinct on the southern edge of the North Sydney CBD, adding another significant proposal to a pocket around North Sydn​ey Station that is quickly becoming one of the LGA's busiest development zones.

The State Significant Development Application covers a 5,990 sqm site at <a href="https://www.apartments.com.au/new-apartments/1-19-mackenzie-street-lavender-bay-nsw-2060">1-19 MacKenzie Street and 211 Blues Point Road in Lavender Bay</a>, immediately south of Nor​th Sydney Station and between the commercial core and the lower-rise Lavender Bay Heritage Conservation Area.

Designed by Wardle, the proposal would deliver a new residential tower comprising 88 build-to-sell apartments and 19 affordable apartments, alongside a separate co-living building with 57 rooms and a building manager's studio.

It would also see the significant restoration and upgrade of St Francis Xavier Catholic Church, the adaptive reuse of the former school building, new parish facilities, retail, a new public square and around 1,000 sqm of publicly accessible open space.

<img alt="Vinnies North Sydney" data-entity-type="file" data-entity-uuid="d5dd7f87-a617-463e-b577-17541e01f0e9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.13%E2%80%AFAM.png?VersionId=4R8TsFN3P_LrrXO2HswTOIrx2blil8lh" />

The project is seeking a concurrent rezoning of the site to R4 High Density Residential and an increase in the maximum building height to allow a tower reaching RL120, or up to 20 storeys. The proposal was progressed through the NSW Government's Housing Delivery Authority pathway.

The build-to-sell component will be weighted toward larger apartments, with just six one-bedroom apartments compared with 31 two-beds, 43 three-beds and eight four-bedroom residences.

The 19 affordable apartments will comprise two studios, 15 one-bedroom apartments and two two-bedroom apartments, taking the total apartment component to 107 residences before the 58 co-living rooms are included.

<img alt="Vnnies" data-entity-type="file" data-entity-uuid="7d568ca5-cb90-4e18-96c6-d9795dba0c56" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.05%E2%80%AFAM.png?VersionId=GY2R5M9VtQh0EKy1vajaea19PSLOPuRD" />

Wardle's design for the Vinnies site has sought to negotiate that emerging high-rise context while retaining the lower-scale character of MacKenzie Street and the adjoining heritage conservation area.

The main building adopts a three-storey podium and tower arrangement, with the podium aligned to the ridgeline and front setback of St Francis Xavier Church.&nbsp;Wardle has designed the podium with colonnades, seating, recessed entries and active ground-floor frontages, with sandstone-toned precast concrete and face brick referencing the materiality of the existing church.

The tower then steps back eight metres to the south and six metres to the north before rising in a sculpted form comprising four interlocking quadrants. Wardle has also introduced rounded forms and chamfered corners to reduce the tower's perceived bulk and improve view sharing with neighbouring development sites.

Resident facilities and outdoor areas are planned at the separation between the podium and tower at Level 3, oriented toward Sydney Harbour and the CBD skyline.

The tower itself will feature a glass reinforced concrete facade, with recessed balconies and deep reveals used both to provide shading and privacy and frame views toward the harbour and city. The lower levels take a different architectural approach, using brick and sandstone-toned finishes intended to establish a stronger relationship with St Francis Xavier Church. The Church itself will be conserved and upgraded for its continued use, while the former school building will be adaptively reused as part of the co-living component.

<img alt="Lavendar Bay" data-entity-type="file" data-entity-uuid="2d4418ad-90aa-4d49-af93-c80b140aea80" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.09.47%E2%80%AFAM.png?VersionId=Kv4gzbsACaGvZSRuaqcfGC54jEJRXIDJ" />

&nbsp;

The proposal adds to an increasingly concentrated pipeline of residential development around Blue Street, MacKenzie Street and Lavender Bay.

Just west of the site, Central Element lodged plans earlier this year for one of the most significant residential developments proposed in Lavender Bay in recent years.

Central Element's SJB-designed scheme at 64-66 Lavender Street and 3-7 Middlemiss Street would deliver 163 apartments across two towers rising 23 and 32 storeys, replacing five existing apartment buildings containing 32 homes. The project also forms part of the Housing Delivery Authority pathway.

<a href="https://www.apartments.com.au/news/nsw/first-look-central-element-reveals-lavender-bay-apartment-plans?utm_source=chatgpt.com" rel="noopener" target="_blank">First look: Central Element reveals Lavender Bay apartment plans</a>

Immediately around North Sy​dney Station, another two significant proposals have emerged at 5 and 15 Blue Street.

Zurich Australian Insurance Properties is seeking to adaptively reuse its longstanding commercial building at 5 Blue Street, directly above North Sydney Station, rather than demolishing the structure.

Its SSDA proposes converting the building into a 14-storey mixed-use development with 62 apartments and 86 co-living rooms, together with ground-floor retail and a major refurbishment of Blue Street Plaza. The application is currently at the Response to Submissions stage.

<a href="https://www.apartments.com.au/news/nsw/first-look-zurich-targets-north-sydney-office-conversion-with-148-unit-proposal-above-metro-station">First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station</a>

&nbsp;

First look: Vinnies files for 20-storey Lavender Bay apartment tower as North Sydney housing pocket heats up

When the opportunity arose for South Australian developer Palumbo to return to Kent Town, where it had previously delivered East Park Apartments and the East 
Rundle Apartments, it wasn't one the longstanding developer-builder was going to pass up.

The decision was quickly vindicated, with more than 30 apartments sold within the first month of launching <a href="https://www.apartments.com.au/new-apartments/royal-apartments-kent-town-2-8-north-terrace-kent-town-sa-5067">Royal Apartments</a> to the market.

The 206-apartment development, which will bring significant new supply to Adelaide's tightly held eastern city fringe, also gives <a href="https://www.apartments.com.au/developers/palumbo">Palumbo</a> the opportunity to bring new life to one of Kent Town's most recognisable watering holes.

[smartcode_project:default project_id=6109 project_image_fid=376073]

Royal Apartments incorporates the historic Royal Hotel, a venue Palumbo Managing Director Daniel Palumbo said has a longstanding connection with the local community.

"Everyone in the area has history with the Royal Hotel," Palumbo told Apartments.com.au.

"It was quite an active pub and social gathering place for locals. We want to bring it back to its former glory."

[smartcode_project:default project_id=6109 project_image_fid=376072]

The wider development will comprise two residential towers alongside the restored hotel, sitting on North Terrace opposite the Adelaide Park Lands.

For Palumbo, the project also marks a return to familiar territory.

The developer completed East Park Apartments next door more than a decade ago and jumped at the opportunity to develop in Kent Town again when the Royal Hotel site became available.

"The opportunity emerged, and we moved to secure the site," Palumbo said.

"We were approached by the previous landowner, who said they had extensive commitments in Sydney and weren't in a position to deliver the project.

"We took over the site and within six months recut the design scheme to be more in keeping with the type of development we want to bring to Adelaide.

"Now we're on the market and those changes have really resonated with local buyers."

That has translated into a strong start to sales, with 33 apartments transacting in the project's first 35 days.

Palumbo said the early purchaser profile had been consistent with the group's traditional focus on owner-occupiers rather than investor-led apartment stock.

"Local owner-occupiers have always been our market," he said.

"There are always some investors, but we've never developed what would be called traditional development stock. Owner-occupiers are very much our market."

[smartcode_project:default project_id=6109 project_image_fid=376068]

The buyer mix has been diverse so far, with downsizers and younger professionals both accounting for a significant portion of early sales.

South Australia's current stamp duty settings, which allow&nbsp;eligible homeowners in South Australia aged 60 savings of up to $103,830 on stamp duty when they downsize to a new property valued at up to $2 million,&nbsp;have helped encourage downsizer activity, while younger buyers in their late 20s and early 30s have been attracted to the opportunity to live immediately outside the CBD while still being able to walk into the city.



Location has been a major part of the proposition for both buyer cohorts.

[smartcode_project:default project_id=6109 project_image_fid=376075]

Royal Apartments sits on North Terrace directly opposite the Adelaide Park Lands, with residents able to walk through the parklands toward the East End, Rundle Street and Rundle Mall.

Apartments have been positioned to capture views across the parklands, Adelaide skyline, Botanic Gardens and Adelaide Hills.

Palumbo believes the scarcity of developable land along this section of the Park Lands makes the site particularly difficult to replicate.

"There's very few allotments on that side that can be developed," he said.

"If this location was in New York and you were sitting on Central Park, you'd be talking about a $60 million apartments."

Royal Apartments will offer a broad mix of residences, ranging from one-bedroom apartments through to four-bedroom sub-penthouses and penthouses.

Current listings include one-bedroom apartments from $680,000, while larger three and four-bedroom residences are priced around $2.5 million.

Residents will have access to a swimming pool, gym, barbecue and recreation areas, residents' lounge and dining space, and a communal deck.

[smartcode_project:default project_id=6109 project_image_fid=376067]

The apartments will feature generous balconies, while secure parking, bicycle storage and storage cages will also be provided.

A porte-cochère-style arrival and drop-off area has also resonated with buyers, particularly those attracted to being able to walk into the CBD during the day while retaining secure vehicle access at home.

Palumbo is acting as developer, architect and builder on Royal Apartments, continuing the vertically integrated model it has used across its South Australian portfolio.

The group was also behind the $150 million Sofitel Adelaide, the 251-room five-star hotel and residential tower which opened in 2021.

Palumbo said Royal's launch had come at an interesting time for the broader Adelaide apartment market.

Buyer confidence had initially been impacted by uncertainty surrounding the Federal Budget and broader economic conditions, but Palumbo believes sentiment is beginning to improve against a backdrop of significant investment flowing into South Australia.

He pointed to increased activity across defence and resources, including Olympic Dam, as potential long-term drivers of the state's economy and housing market.

"Money is starting to flow into Adeliade, significant amounts as Adelaide bucks the trend of the rest of the country.," Palumbo said.

"There's a lot of activity in the economy over the next decade. I think more investment will come into this market."

Early works on Royal Apartments are expected to commence this year, with major construction activity and cranes anticipated on site from early next year.

[smartcode_project_cta:default project_id=6109]

Palumbo's return to Kent Town strikes early chord with buyers

Go-to builder-developer <a href="https://www.apartments.com.au/developers/graya">GRAYA</a> is continuing to bulk out its already impressive and diverse apartment portfolio across South East Queensland. Their latest milestone is securing development approval for Silk, its boutique riverfront apartment development in St Lucia.

The approval clears&nbsp;the way for the team to begin construction planning for the 22-residence project.

<a href="https://www.apartments.com.au/new-apartments/silk-st-lucia-16-18-sandford-street-st-lucia-qld-4067">Silk</a> will rise 15 levels from an 810 sqm site at 16-18 Sandford Street, occupying a prominent bend of the Brisbane River with a prized northern aspect across Orleigh Park toward the Brisbane CBD.

The approved scheme will comprise 16 split-floor and six full-floor residences, continuing GRAYA's move into larger-format apartment developments targeting Brisbane's prestige owner-occupier market.

The project has been designed around the site's broad river frontage and dual-direction views, with GRAYA prioritising larger residences, privacy and outlook over apartment yield.

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="aa5c2349-f96c-4914-a812-1f2cd6827af8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.44%E2%80%AFAM.png?VersionId=WY0vEU_7vYjeRJKQHiCwFdMxu8PvFh52" />

GRAYA Co-founder and Chief Executive Officer Rob Gray said the project had been shaped around local homeowners wanting to remain in St Lucia without maintaining a traditional family home.

"St Lucia is one of those suburbs people do not want to leave," Gray said.

"They know the river, the trees, UQ, the golf course, Toowong and Indooroopilly, and that familiarity is hard to replace.

"True riverfront opportunities here are exceptionally scarce. What we have designed at Silk is a way to stay in the suburb people love, with the scale and privacy of a private home and far less to maintain.

"This is not typical apartment product. It is a proper home on the river, and that is exactly what this market has been missing."

The approval comes as new apartment development continues to increase across the St Lucia and neighbouring Toowong corridor, although direct riverfront sites remain considerably more tightly held.

GRAYA Co-founder and Managing Director Andrew Gray said securing the approval had removed a significant element of development risk from Silk.

"Genuine riverfront sites of this quality in St Lucia are not something that comes up regularly," Gray said.

"The approval removes a substantial layer of execution risk, and the location underwrites demand in a way very few inner-city sites can.

"The fundamentals here are as strong as anything we have assessed in Brisbane."

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="d0f3d734-65e1-48e8-8ed3-2e0715ffcdd9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.56%E2%80%AFAM.png?VersionId=sOLSs_jdHkXLWbBKzRyayf5BfTb2vPsD" />

Silk will see GRAYA return to a stretch of the Brisbane River where it already has recent construction experience. The vertically integrated group recently completed ARC in neighbouring Toowong as builder for developer Spyre, delivering the riverfront project on a constrained site.

GRAYA will take a different role at Silk, controlling the project from design and development through construction and aftercare under its vertically integrated model.

The development will include a gym and resident leisure areas at ground level, integrated with the river's edge.

Silk joins a growing pipeline for GRAYA across Brisbane and the Gold Coast, which includes Enclave, The Gallery, Coral and Ripple.

The developer-builder has also recently lodged plans for its largest project to date, <a href="https://www.apartments.com.au/new-apartments/the-silo-19-chester-street-newstead-qld-4006">The Silo</a>, a proposed <a href="https://www.apartments.com.au/news/qld/graya-buys-frasers-newstead-site-plans-the-silo-between-james-street-and-gasworks-precincts">$700 million mixed-use development</a> in Brisbane's James Street precinct.

Silk is expected to predominantly target local owner-occupiers and prestige buyers seeking a permanent riverfront home in Brisbane's inner west.

Registrations of interest are now open, with further details on the project and construction program to be released as it progresses.

<hr />
<h2>SILK PROJECT FACTS</h2>

Developer-builder: GRAYA

Project: Silk

Location: 16-18 Sandford Street, St Lucia

Apartments: 22

Built form: 15 levels

Site: 810 sqm riverfront holding

Mix: 16 split-floor and six full-floor residences

Status: Development approved

Next step: Construction planning underway

[smartcode_project_cta:default project_id=152168]

GRAYA greenlit for riverfront St Lucia apartment development, Silk

Newcastle

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The latest HTW report notes that Newcastle residential yields are in the 3.5% to 4.5% range - which they describe as exceedingly low.
The Herron Todd White report suggested investors were in such instances having an over-reliance on capital growth to keep their investment equation in balance.
"This is also likely to mean that unless rental rates start increasing again, values may have to correct themselves," it tipped.
The valuation firm Herron Todd White noted the recent rate rises by the banks did not come without warning.
"APRA has been making noises about the capital raising of lenders for some time" the HTW November report states.
"The general consensus appears to be that several markets are overheated and a correction could be a major economic issue for Australia.
"The recent move to increase the interest rate for investors has had the effect of subduing the ardour from some investors to portfolio build, likely the prime goal of the rise.
"While the actual increase itself is minor, the psychological effect is something more substantial.
"We have had a long sustained period of interest rate decreases."
The HTW report highlights that the last increase by the RBA dates back to November 2010 and since that time investors have seen capital values rise, rental rates rise and portfolio values increase with little to no effort.
"To suddenly see an interest rate increase is a fundamental shift in mindset that may rock a few and place on the back foot those investors who have leveraged their portfolios too high."
The report goes on to suggest that discussions with agents indicate that investor enquiry in the Hunter is waning slowly.
"Previously agents could sell investment stock to a list on a database without the irritating hard work that open homes and general listing duties generally require.
"Instead of setting a price on the off chance that someone takes the hook, prices now require a little bit of prep work prior to unleashing them on the market.
"One might say that purchasers are at that point where they are exercising a small, but increasing amount of power to be choosy. Are the days of the seller’s market over?
"We aren’t that keen to declare that statement fact yet, but fledgling signs are there, as if a tiny seedling is emerging in the first few days of spring from the damp, steaming ground.
"What could stop it? Why, your retired dad doing you a favour and attacking your weeds with Roundup TM of course.
"Nothing like dad maintaining a garden.
"Rental rates in the Hunter region have been stagnant for a period of time now, unless you are in an area impacted by mines where the rates have been falling for a number of years now", says the HTW November review.
"Rental rates are one side of the yield/value/income triangle."
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j.ballantyne1990-6AQqhLzZaK

Newcastle property investors having over-reliance on capital growth: HTW

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The Newcastle housing market has been described as peaking by Herron Todd White in its lastest property clock.
He are three samples. 
1. <a href="https://www.realestateview.com.au/Real-Estate/5-58a-smith-street-charlestown/Property-Details-sold-residential-9288174" target="_blank">5/58a Smith Street, CHARLESTOWN 2290</a> (above)
Sold for $272,000 in September.
The 968 sqm unit was sold for $272,000 after $260,000 hopes from selling agent Rodney Goodwin of PRD Nationwide.
The one bedroom, one bathroom property was last traded in 2012, selling for $230,000.
<img src="/images/2015/11/5/new2.jpg" alt="" width="530" height="353">
2. <a href="https://www.realestateview.com.au/Real-Estate/84-robert-street-wickham/Property-Details-sold-residential-9051904" target="_blank">84 Robert Street, WICKHAM 2293</a> (above)
Sold for $615,000 in July.
The property was listed with a guide price of $575,000. 
The residence was lasted traded in 2001 for $191,000.
The property was put up for rent in early in 2011 at $400 per week and increased to $425 per week when marketed for rent in late 2013.
<img src="/images/2015/11/5/cooks.jpg" alt="" width="522" height="348">
3. <a href="https://www.realestateview.com.au/Real-Estate/57-laman-street-cooks-hill/Property-Details-sold-residential-8651326" target="_blank">57 Laman Street, COOKS HILL 2300</a>
Sold for $620,000 in May. 
The renovated property was purchased for $310,000 in 2008 so has doubled in value over seven years.
The two bedroom, two bathroom home was listed with a price guide of over $575,000.
Newcastle houses are at the peak of the market, according to Herron Todd White's <a href="/news/sydney-and-melbourne-houses-at-peak-pricing-in-november-htw-property-clock">latest property clock</a>.
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Three signs the Newcastle housing market is hot

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The latest research from Newcastle Cityscope shows that commercial property sales have decreased in the three months to June 2015.
The most recent quarter had 25 sales at a total value of $22.2 million, as compared to 26 sales totalling $38 million in the three months to March 2015, though it is an increase from the 13 sales totalling $21.8 million for the quarter to December 2014.
This latest data brings the total sales value in Newcastle Cityscope to $142 million for the year, a decrease from the $151.3 million recorded the same time last year.
The table below shows sales recorded for the last eight updates of Newcastle Cityscope.
<a href="/images/2015/06/17/700_newcastle.jpg" target="_blank">Click to enlarge</a>
<a href="https://mail.privatemedia.com.au/owa/14.3.224.2/scripts/premium/redir.aspx?SURL=-k3jv6bUmFJ4Jj4DEQXoOPvso3n6aIlUWa2vPi1XVxNaiqcAvXbSCGgAdAB0AHAAOgAvAC8AYgBsAG8AZwAuAGMAbwByAGUAbABvAGcAaQBjAC4AYwBvAG0ALgBhAHUALwB3AHAALQBjAG8AbgB0AGUAbgB0AC8AdQBwAGwAbwBhAGQAcwAvADIAMAAxADUALwAwADYALwBQAHUAbABzAGUALQBOAEMAUwBhAGwAZQBzAEcAcgBpAGQALgBnAGkAZgA.&amp;URL=http%3a%2f%2fblog.corelogic.com.au%2fwp-content%2fuploads%2f2015%2f06%2fPulse-NCSalesGrid.gif" target="_blank" rel="wp-prettyPhoto[g4923]"><img class="aligncenter size-large wp-image-4924" src="https://blog.corelogic.com.au/wp-content/uploads/2015/06/Pulse-NCSalesGrid-580x309.gif" alt="Newcastle Cityscope Quarterly Sales" width="580" height="309"></a>
Notable sales in the June 2015 update of Newcastle Cityscope include:
<ul>
<li>464-470 King Street , Newcastle West, a two-storey office building and an adjoining single-storey brick commercial building with a net lettable area 3,626 sqm mas bought for $3.85 million.</li>
<li>48-50 Hunter Street, Newcastle, a five-storey rendered brick building commercial with classical facade detail, built circa 1926 was bought for $3.745 million.</li>
</ul>
The most notable property for sale in Newcastle Cityscope in the June 2015 update is:
<ul>
<li>11 Argyle Street, Newcastle, a six-storey building with 342 cars with two levels of office space and a total net lettable area 5,002 sqm is for sale by expression of interest closing 18 June 2015 through Knight Frank and CBRE.</li>
</ul>
Leasing opportunities listed in the June 2015 update of Newcastle Cityscope include:
<ul>
<li>150-162 Wharf Road, Newcastle, a three-storey ferry building and two-storey wharf building, has 3,000 sqm of retail space for lease in June 2015 through Colliers International Newcastle.</li>
<li>A future development at 16-18a Honeysuckle Drive, Newcastle West has 7,000 sqm for lease in a future development on the site through Colliers International Newcastle.</li>
</ul>
<a href="https://mail.privatemedia.com.au/owa/14.3.224.2/scripts/premium/redir.aspx?SURL=yf6zTID0UnPyHU9SYksHj0YWxK458vqMHcQn8lGhudVaiqcAvXbSCGgAdAB0AHAAOgAvAC8AYgBsAG8AZwAuAGMAbwByAGUAbABvAGcAaQBjAC4AYwBvAG0ALgBhAHUALwB3AHAALQBjAG8AbgB0AGUAbgB0AC8AdQBwAGwAbwBhAGQAcwAvADIAMAAxADUALwAwADYALwBQAHUAbABzAGUALQBOAEMAUwBhAGwAZQBzAEMAaABhAHIAdAAuAGcAaQBmAA..&amp;URL=http%3a%2f%2fblog.corelogic.com.au%2fwp-content%2fuploads%2f2015%2f06%2fPulse-NCSalesChart.gif" target="_blank" rel="wp-prettyPhoto[g4923]"><img class="aligncenter size-full wp-image-4925" src="https://blog.corelogic.com.au/wp-content/uploads/2015/06/Pulse-NCSalesChart.gif" alt="Newcastle Cityscope Quarterly Sales Graph" width="532" height="321"></a>
Cityscope covers 28 predominantly capital city CBD markets across Australia and New Zealand, providing a rich level of property level data including building attributes, tenancy detail, sales and ownership and can be contacted <a href="https://www.corelogic.com.au/products/cityscope" target="_blank">here</a>. <a href="https://mail.privatemedia.com.au/owa/14.3.224.2/scripts/premium/redir.aspx?SURL=_pCOyVu-2ro81S9Q6yyJCTaqjkAX_XG9zRjjfOFcAvdaiqcAvXbSCGgAdAB0AHAAOgAvAC8AdwB3AHcALgBjAG8AcgBlAGwAbwBnAGkAYwAuAGMAbwBtAC4AYQB1AC8AcAByAG8AZAB1AGMAdABzAC8AYwBpAHQAeQBzAGMAbwBwAGUA&amp;URL=http%3a%2f%2fwww.corelogic.com.au%2fproducts%2fcityscope" target="_blank" style="line-height: 1.3em;"> </a>
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jchancellor-FAypfDUnLy

Newcastle commercial property activity ticking over: Cityscope

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<div>The REINSW has noted a rise in vacancy rates in the NSW coastal regional city of Newcastle, up from 3.4 per cent to 4.6 per cent.</div>
<div>
 The Hunter also saw a rise from 3.1 per cent to 3.9 per cent, the April 2015 Real Estate Institute of New South Wales data revealed.</div>
<div> </div>
<div>It has been suggested the spike reflects unemployment rates of 8.4 per cent at Newcastle or even higher around the Hunter region at 11.8%, according to the ABS.</div>
<div> </div>
<div>
<h2>Unemployment Rates by Labour Force Region, April 2015 (15+) (%)</h2>
<div>
<table class="DataTable" border="1" rules="all" cellspacing="0"><tbody>
<tr>
<th scope="col">Labour Force Region</th>
<th scope="col">Unemployment Rate</th>
</tr>
<tr>
<td>Sydney - Northern Beaches</td>
<td>2.9</td>
</tr>
<tr>
<td>Sydney - North Sydney and Hornsby</td>
<td>3.6</td>
</tr>
<tr>
<td>Sydney - Sutherland</td>
<td>3.6</td>
</tr>
<tr>
<td>Sydney - Eastern Suburbs</td>
<td>3.7</td>
</tr>
<tr>
<td>Sydney - Baulkham Hills and Hawkesbury</td>
<td>4.2</td>
</tr>
<tr>
<td>Capital Region</td>
<td>4.5</td>
</tr>
<tr>
<td>Sydney - Inner West</td>
<td>4.6</td>
</tr>
<tr>
<td>Sydney - Outer West and Blue Mountains</td>
<td>5.3</td>
</tr>
<tr>
<td>Sydney - City and Inner South</td>
<td>5.5</td>
</tr>
<tr>
<td>Sydney - Parramatta</td>
<td>5.6</td>
</tr>
<tr>
<td>Far West and Orana</td>
<td>5.7</td>
</tr>
<tr>
<td>Central Coast</td>
<td>5.8</td>
</tr>
<tr>
<td>Riverina</td>
<td>5.8</td>
</tr>
<tr>
<td>Sydney - Outer South West</td>
<td>6.2</td>
</tr>
<tr>
<td>Sydney - Blacktown</td>
<td>6.4</td>
</tr>
<tr>
<td>Sydney - Ryde</td>
<td>6.5</td>
</tr>
<tr>
<td>Sydney - South West</td>
<td>7.0</td>
</tr>
<tr>
<td>Sydney - Inner South West</td>
<td>7.3</td>
</tr>
<tr>
<td>Coffs Harbour - Grafton</td>
<td>7.5</td>
</tr>
<tr>
<td>Mid North Coast</td>
<td>7.8</td>
</tr>
<tr>
<td>Central West</td>
<td>8.1</td>
</tr>
<tr>
<td>Illawarra</td>
<td>8.1</td>
</tr>
<tr>
<td>New England and North West</td>
<td>8.2</td>
</tr>
<tr>
<td>Murray</td>
<td>8.4</td>
</tr>
<tr>
<td>Newcastle and Lake Macquarie</td>
<td>8.4</td>
</tr>
<tr>
<td>Southern Highlands and Shoalhaven</td>
<td>8.7</td>
</tr>
<tr>
<td>Richmond - Tweed</td>
<td>8.8</td>
</tr>
<tr>
<td>Hunter Valley exc Newcastle</td>
<td>11.8</td>
</tr>
</tbody></table>
</div>
</div>
<div> </div>
<div>It is a lot tighter south of Sydney Wollongong saw vacancies rise 0.8 per cent in the month to 1.8 percent.
<div> </div>
<div>There was a 0.3 per cent increase in the Illawarra to 1.3 per cent.</div>
<div> </div>
<div>
<div>Sydney vacancy rates remained stable in April 2015, tightening in the inner and middle ring, but recording an increase in vacancy rates in the outer.
</div>
</div>
</div>
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Newcastle's worrying high rental vacancy rate: REINSW

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The Anglican Diocese of Newcastle has sold Bishopscourt on The Hill to a local purchaser.
The sale was negotiated by Scott Walkom and Kate Rundle of Walkom Real Estate with the Diocese confirming that the price achieved was in excess of the amount mentioned in recent media reports.
The church was reported as expecting to sell for more than $4.75 million. 
<a href="https://www.domain.com.au/for-sale/34-brown-street-newcastle-nsw-2300-2011896329" target="_blank" style="line-height: 1.3em;">The 4,130 square metre Brown Street property</a> housed the city’s successive Anglican bishops until current bishop Greg Thompson chose to reside elsewhere.
The seven bedroom, four bathroom 1929 Bishopscourt is not heritage listed but parts of its grounds are. 
Last year, the Anglican Synod gave the greenlight for the Newcastle sale to be considered. At the time Bishop Greg Thompson asked the Synod to consider “the economics of having this property, the suitability of it as the home of the Bishop and family, and the historic sentiment of previous bishops who lived within it.” 
The Diocesan Council and Trustees of Church Property approved the sale in March. The proceeds of the sale will go towards providing a residence for the Bishop of Newcastle and any additional funds will be invested to both look after that property and to assist with the costs of episcopal ministry in the Diocese.
<a href="/news/unsold-bishopscourt-darling-point-gets-eighth-archbishop-he-said-she-said">The Sydney Bishopscourt</a> failed to sell on its recent listing.
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Bishopscourt, Newcastle sold by Anglican Diocese

<html><body>
The historic inner-city abode of former Newcastle Lord Mayor Jeff McCloy and wife Tracey has been sold for $2 million, having sought offers last month over $2 million.
The McCloys had it listed through <a href="https://www.realestateview.com.au/Real-Estate/church-street-the-hill/Property-Details-sold-residential-7722264" target="_blank">PRD Nationwide Newcastle agent Mark Kentwell</a>.
The five bedroom residence at 122 Church Street, The Hill cost $2.4 million in early 2008.
The move follows Jeff’s resignation as Lord Mayor in August.
“Now that Jeff is no longer serving as Mayor, the couple has no need for such a significant inner-city residence,” Mark Kentwell said during its marketing.
The Belmont-based McCloys purchased the 1880s property, known as Egmont House, as a second home in 2008, then engaging Suters Architects and Graph Building in 2009 to renovation the property which has water views.
It was built in 1880 for Harbour Master Captain David Joseph Williams.
The marketing material says the "tri-level residence melds historic charm with modern sophistication."
It comes with a lift, gym and home office and also has a semi-self contained section suitable for a live in nanny.
The property was offered to the market earlier this year with Walkom Real Estate seeking offers between $2.6 million and $3 million, but was withdrawn until the latest marketing campaign.
 
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Former Newcastle Lord Mayor Jeff McCloy takes property loss on The Hill

<html><body>
Australia has one of the most residentially mobile populations of any country. This means we don't mind moving house.
Researchers refer to this as Net Internal Migration, or NIM. With so much attention focused on Sydney's hot property market and the rapid growth in the city's house prices recently, it is easy to see how regional migration starts, as people move from cities to regional areas.
We are already seeing many families priced out of Sydney looking for more value for their money. This migration pattern has been creeping up into the Central Coast and Newcastle over the past few months.
In fact, Newcastle experienced the second largest influx of domestic migrants between 2010 and 2011.
According to the Australian Bureau of Statistics, in the 2010-11 period Newcastle was second only to Perth in receiving the highest amount of people moving from other capital cities.
Newcastle was also the sixth highest net gainer of domestic migration as a percentage of its population between 2006 and 2011.
With Newcastle experiencing some of Sydney's spillover, there seems to be a local problem emerging.
Some Novocastrians are now looking to do the same and eyeing off other areas within the Hunter Region in which to start their families. A quick search online for houses for sale around $400,000 in Newcastle throws up a few apartments and small, unrenovated two bedroom homes on very small lots.  In Sydney of course, the pickings are much slimmer.
Rachael Brecht from Jurds Real Estate in Cessnock says: "We have been getting more enquiry from Newcastle and the Central Coast buyers. We even see some Tree Changers coming from Sydney. They are looking for good quality renovated houses with large backyards and good schools and good sporting and shopping facilities.  We have all this and more in Cessnock with the beautiful Hunter Valley vineyards and their world famous cafes and restaurants at our doorstep, we really do have lots to offer."
She's currently marketing a three bedroom house on 800 square metres of land, with a price guide of $399,000.
With the Hunter Expressway now offering quicker access, you can be in the Newcastle CBD within 50 minutes. Cessnock is a two hour drive from Sydney. There are good local employment opportunities, as in this city which has a population of over 54,000, there is a strong, diverse economy.  The health, tourism, retail, manufacturing (wine) and training and education industries are the <a href="https://economy.id.com.au/cessnock/Employment-census" target="_blank">highest employers in the area</a>. 
For buyers from Sydney or Newcastle a three bedroom house on 800sqm of land for $400,000 is very good value. When you combine the low interest rates we are experiencing now, then this may be a great way of getting ahead.
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jochivers-wq5Bp59R5a

The search widens for families priced out of cities

<html><body>
The Hastings Funds Management syndicate has won the NSW state government tender for the Port of Newcastle.
It was announced by the NSW Premier Mike Baird who sought offers in his 2013 budget.
The Hastings partner, China Merchants Group, is <a href="https://wwwen.cmhk.com" target="_blank">a state owned corporation</a> of People's Republic of China.
The syndicate will pay $1.75 billion for the port, with the proceeds to split between the Restart NSW infrastructure fund and the Newcastle city centre redevelopment.
Five final bids were received for the Newcastle port, the world's largest coal terminal.
It has been forecast to have $69 million earnings before interest, tax, depreciation and amortisation in the 2013-14 financial year.
</body></html>

New NSW premier Mike Baird finds his Port of Newcastle buyer

<html><body>
The rejuvenation of Newcastle CBD, including works on the University of Newcastle’s $95 million campus, has caused a surge in buying activity in the area, according to PRDnationwide Newcastle and Lake Macquarie managing director, Mark Kentwell.
Kentwell noted that investors and first home buyers are among those interested in <a href="/news">Newcastle</a>, with activity higher in the past six months than it has been in a few years. This is <a href="/expert-insights/buying/hotspot-newcastle-tipped-for-strong-growth">not the first time Newcastle has been tipped for growth - being referred to as a hotspot in 2011</a>.
“The university, new courthouse and pending relocation of the rail are factors that have put Newcastle on the map for buyers and developers,” he said.
“After years of analysing the city, there is an acceptance now that residential is in demand and commercial will follow suit once there is a larger population in the city.”
The expectation is for more students and staff to live in the city from 2017, with out of town investors and SMSF investors active in off the plan sales.
“There is also heavy investment generally from non-local buyers as Newcastle’s growth potential becomes more apparent,” he said.
“We are witnessing strong buyer interest in any well-located quality project that comes to market.”
<blockquote>
“After years of analysing the city, there is an acceptance now that residential is in demand and commercial will follow suit once there is a larger population in the city.”
</blockquote>
Developers are also reacting to the growth in confidence.
“There are a lot of sites in the city that have been dormant and neglected over the years - they now have the opportunity to be brought back to life,” he said.
Image courtesy of Wikipedia/Creative Commons.
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