<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.

Joel Robinson

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

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

Bottega House secures landmark riverfront site in St Lucia 

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

SIERA kicks off construction at Northcliffe tower Exhale

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

Eastern Suburbs buyers snap up ESTE Little Bay apartments

<a href="https://www.apartments.com.au/developers/sunland-group">Sunland Group</a> has officially lodged plans for its first Gold Coast apartment project since the departure of the Abedian family from the company three years ago, unveiling a new high-rise proposal for a prominent Broadbeach corner site on Old Burleigh Road.

The application was submitted by an entity directed by Tom Jamieson, stepson of longtime Sunland leader Soheil Abedian, and Riaz Rezvanipour, brother-in-law of Sahba Abedian, Soheil’s son.

Sunland acquired the 1,283 sqm site on the corner of Old Burleigh Road and Armrick Avenue for $9.5 million late last year and is now seeking approval for a <a href="https://www.apartments.com.au/new-apartments/99-101-old-burleigh-road-broadbeach-qld-4218">42-storey tower with 81 apartments</a>.

<img alt="First look: Sunland Group returns to Broadbeach with new Old Burleigh Road tower plans" data-entity-type="file" data-entity-uuid="fea2946d-90ee-4cfc-babe-2a8ad5db2cb6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers.png?VersionId=BV0fihJw31nDIQ8ozY_h3GbS8mxDyhnm" />

Designed by <a href="https://www.apartments.com.au/architects/contreras-earl-architecture">Contreras Earl Architecture</a>, the proposed tower at 99-101 Old Burleigh Road would deliver a predominantly larger-format apartment mix aimed at the owner-occupier market. Plans include 17 two-bedroom apartments, 55 three-bedroom apartments, and nine four-bedroom residences across 35 residential levels.

The development also incorporates three basement levels, four podium parking levels, two levels of communal recreation facilities, and rooftop plant and equipment. A total of 189 car spaces are proposed, significantly exceeding the 90 spaces required under the planning scheme.

The architecture adopts a sculpted, curvilinear form, with deep wraparound balconies and integrated landscaping intended to soften the tower’s vertical expression. The planning report states the building’s “slender footprint/form provides a complimentary yet varied built form within the local streetscape” and contributes to “a varied, yet ordered skyline.”

Contreras Earl noted in its Architectural Statement that from the early stages, the project addressed a fundamental challenge: how to accommodate the required residential yield while avoiding the conventional model of a tower sitting on a rigid, fully resolved parking podium.

“The most direct response would have been to consolidate parking into a singular, flat podium and extrude a repetitive tower above,” the statement said. “While efficient, this approach would result in a consolidated built form with limited engagement with the surrounding landscape and public realm.”

Instead, the conventional podium model was “deliberately rejected”. The architects described the base of the building as “a landscaped architectural condition where structure, planting and circulation are integrated”.

“Rather than presenting a continuous built mass, the base of the building is articulated through a series of concrete planter elements that organise the podium into a fragmented system,” the statement said. “This approach reduces the perceived bulk of the lower levels while establishing a more permeable interface with the streetscape and adjacent open space.”

<img alt="Sunland" data-entity-type="file" data-entity-uuid="923fad8d-c960-4527-8fbe-975cf1ddf88d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%2010.32.03%E2%80%AFAM.png?VersionId=pngwb0hYOIUpq9vDw6F2EsOiVuHF3DiX" />

&nbsp;

The site sits within the High Density Residential Zone and inside the City of Gold Coast’s unrestricted “HX” building height area, where the planning framework anticipates intensified residential development tied to the expanding light rail corridor. The planning report notes the area is undergoing “transition toward more intense development forms” given its proximity to Broadbeach, Surfers Paradise, and high-frequency public transport infrastructure.

Positioned directly opposite Broadbeach Park and within walking distance of Florida Gardens light rail station, the development would sit among a rapidly evolving stretch of Old Burleigh Road that has become one of the Gold Coast’s most active apartment development corridors.

The application joins a growing pipeline of luxury residential projects reshaping Broadbeach, including nearby developments by 5Point Projects, Polycell, and Graya.

The planning report argues the project contributes toward the Gold Coast’s long-term housing targets under the South East Queensland Regional Plan, which forecasts the need for more than 100,000 additional high-rise dwellings across the city by 2046.

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The Abedian family departed Sunland Group in late 2023, ending a four-decade association with the company, and subsequently established the private development firm Abedian &amp; Co. The group is currently delivering <a href="https://www.apartments.com.au/new-apartments/greenmount-residences-cnr-hill-street-and-marine-parade-coolangatta-qld-4225">Greenmount Residences</a> at Rainbow Bay and recently launched <a href="https://www.apartments.com.au/new-apartments/18-mary-avenue-14-18-mary-avenue-broadbeach-qld-4218">18 Mary Avenue</a> in Broadbeach.
</section>

First look: Sunland Group returns to Broadbeach new apartment market with new Old Burleigh Road tower plans

Perth

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The Perth property market remains generally subdued in 2016 with median house prices softening by 4.4 percent compared to the corresponding quarter in 2015, according to the latest report from PRDnationwide.
According to its report, Perth Property Hotspots Second Half of 2016, this situation has, however, provided first home buyers with attractive opportunities to enter the market, which has resulted in Western Australia recording the highest proportion of first home buyers in Australia.
Although the Perth’s rental market is at its lowest in 12 months, it provides tenants with affordable housing options.
A flow-on effect from the recent strengthening of coal prices to other areas of the resources sector would help create some renewed impetus to the Perth property market.
“The Perth property market has seen some positive signs in a few select suburbs despite a general weakening during 2016,” said Tony Brasier, PRDnationwide managing director.
“For the positive momentum to be maintained and to expand into the wider Perth marketplace renewed confidence and growth in the mining and resources sector and broader economy is needed.”
Click to open in new window:
<a href="https://www.propertyobserver.com.au/images/2017/02/02/per-1.jpg" target="_blank"><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/2017/02/02/per-1.jpg" alt=""></a>
<a href="https://www.propertyobserver.com.au/images/2017/02/02/per-2.jpg"><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/2017/02/02/per-2.jpg" alt=""></a>
 
<a href="https://www.propertyobserver.com.au/images/2017/02/02/per-3.jpg" target="_blank"><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/2017/02/02/per-3.jpg" alt=""></a>
A four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-wa-south+guildford-121951342" target="_blank">36 Brooking Street</a>, South Guildford (above) has been sold for $560,000.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-wa-south+guildford-122476070" target="_blank">7 Seaton Court</a>, South Guildford (below) has been sold for $575,000.
<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/2017/02/02/7%20Seaton%20Court.jpg" alt="">
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jonathanchancellor-7SQnKwU6yx

Perth property price falls a major boon for first time buyers: PRDnationwide

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The proportion of dwellings reselling at a loss across Perth has continued to trend higher over the September 2016 quarter, according to CoreLogic's latest Pain and Gain report.
The property data firm says that over the quarter, 17.3 percent of houses and 32.4 percent of units resold for less than the previous purchase price.
<a href="https://www.propertyobserver.com.au/images/2017/01/30/Corelogic-16.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/2017/01/30/Corelogic-16.jpg" alt="">
Across the council regions, the areas with the highest proportion of loss-making resales were: Perth (48.1 percent), Mosman Park (35.3 percent) and Murray (34.1 percent).
Peppermint Grove had no resales over the quarter (so no resales at a loss) the regions with resales that had the lowest instances of loss were: East Fremantle (8.3 percent), Canning (11.7 percent) and Serpentine-Jarrahdale (12.3 percent).
<a href="https://www.propertyobserver.com.au/images/2017/01/30/Corelogic-17%20copy.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/2017/01/30/Corelogic-17%20copy.jpg" alt="">
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j.ballantyne1990-6AQqhLzZaK

Perth's reselling at loss trending higher: CoreLogic Pain and Gain

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Perth is the location with the second longest time required to sell a property, according to CoreLogic’s latest report.
The property data firm says that the average time for a house to sell at Perth is 90 days while a unit can take up to 99 days to sell.
<a href="https://www.propertyobserver.com.au/images/2017/01/30/Capital%20city%20median%20time.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/2017/01/30/Capital%20city%20median%20time.jpg" alt="">
Darwin houses takes 104 days to sell.
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Perth second slowest behind Darwin in time to sell a property: CoreLogic

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Perth has the biggest decline of home values for the year to date, according to CoreLogic’s latest report.
The property data firm says that Perth’s home value has declined by 1.6% in 2016.
<a href="https://www.propertyobserver.com.au/images/2017/01/16/Capital%20city%20home%20values.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/2017/01/16/Capital%20city%20home%20values.jpg" alt="">
This is followed by a 6% decline of home values over the last 12 months.
Melbourne had a slight increase in home value by 0.9% for the year to date followed by a 13.6% increase over the last 12 months.
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Perth home values decline by 1.6% in 2017: CoreLogic

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Home prices rose by 10.9 per cent in the capital cities in 2016. The gains were largely concentrated in Sydney (+15.5 per cent) and Melbourne (+13.7 per cent). In Sydney home values rose by $10,000 per month in 2016. Brisbane was a clear two-speed market and recorded gains of only +3.6 per cent overall. Australia's regional centres recorded moderate gains of +2.8 per cent. 
<div><a href="https://1.bp.blogspot.com/-V0-hx0y4Hxg/WGt1IW6r61I/AAAAAAAAhBc/Hj7EGOAF1XELqgVtmeNSeTEU2dTKG3bsACLcB/s1600/CL.jpg"><img src="https://1.bp.blogspot.com/-V0-hx0y4Hxg/WGt1IW6r61I/AAAAAAAAhBc/Hj7EGOAF1XELqgVtmeNSeTEU2dTKG3bsACLcB/s640/CL.jpg" width="640" height="314"></a></div>
 In Perth home values are now 7.9 per cent below their 2014 peak, and in Darwin prices are down by 5.9 per cent cumulatively.
<div>However, CoreLogic noted that both markets appear to be "moving through their low points" with both markets reporting strong gains in the last quarter of the year of +2.8 per cent and +5.9 per cent respectively.</div>
<div> </div>
<div>These figures seem to be at odds with low sentiment and high vacancy rates, but will be interesting to watch in 2017.</div>
Regional NSW performed well in parts but there was comparatively little joy elsewhere:
<div>"The remaining rest-of-state regions showed relatively sedate conditions, with values rising by half a per cent across regional Victoria, 1 per cent across regional Queensland and 1.1 per cent across regional South Australia.  </div>
<div> </div>
<div>Regional Western Australia recorded a 7 per cent fall in house values over the year."</div>
<div>
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.
</div>
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pwargent-M4siyDbqQY

Perth dwelling prices now 7.9% below their 2014 peak

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A Cottesloe home sold twice this year in Perth, perhaps the only property to head upwards in price too.
The <a href="https://www.realestate.com.au/property/13-pearse-st-cottesloe-wa-6011" target="_blank">13 Pearse Street</a> holding sold for $7.05 million in June, then again for $7.55 million last month.
The latest buyer was a company co-directed by mining magnate Kerry Harmanis, which owns three neighbouring properties on the street.
The windfall came to Colin Herdman who had bought the property from the Kidd family in June.
It faces onto Avonmore Terrace.
<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/2016/12/23/Cottesloe-2.jpg" alt="">
Harmanis bought the corner home on 1000 square metres, prompting the Perthnow website to speculate Harmanis may seek to create a luxury redevelopment on the four blocks.
The largest block, at a little over 1000 square metres, cost $10.5 million in 2007. 
Harmanis founded the nickel miner Jubilee Mines in 1987. It was acquired by mining giant Xstrata in 2007 for $3.1 billion.
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jchancellor-FAypfDUnLy

Kerry Harmanis secures Cottesloe house that sold twice in 2016

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Perth’s home value has declined by 3% in 12 months, according to CoreLogic’s latest weekly report.
The property investment firm says that although the monthly change to the median home value increased by 0.9%, the year to date figure has declined by 5.2%.
<a href="/images/2016/12/05/Capital%20city%20home%20value.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/05/Capital%20city%20home%20value.jpg" alt="">
This is compared with Sydney which has an increase of 14.4% in the year to date change for home value.
Melbourne and Adelaide has no change at all week-by-week category.
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Perth home values down 3% over past year: CoreLogic

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Due to the decline of the mining sector in Perth, prospective buyers are unwilling to invest in property, according to WBP Property Group's latest report.
The downturn in the Western Australian mining sector has resulted in a "palpable" reduction of consumer confidence as individuals realise the impact of the unfolding crisis.
"Prospective purchasers are unwilling, and in some cases unable, to raise funds to purchase properties, the cautionary approach leading to uncertainty regarding the future direction of residential and commercial real estate markets in Perth and surrounds," the report said.
"This has led to a glut of sale listing in greater Perth and the Peel region, with data estimating around 14,000 home currently for sale, and a further 10,000 properties available for rent.
"This is clear evidence of softened market conditions, which dictates properties of all persuasions must be priced realistically to realise clearance," the report stated.
It suggested there is a high likelihood that property values could decrease further in the short- to medium-term.
“But, it’s not all bad news," the report stated.
"There remains sound demand and buyer activity in well-located inner city areas, particularly those in school catchment areas and near the river, and well-established older suburbs complimented by infrastructure, shopping and retail precincts."
In these areas property values range from $800,000 to $1,500,000.
It noted while value levels remain relatively flat, supply and demand are close to equilibrium.
Meanwhile, the apartment market in Perth is oversupplied, which will be further compounded as developments currently under construction come online over the next two years, many during the same period.
"Unsurprisingly, many properties purchased off the plan during the past 18 to 24 months are struggling to meet current market values," the report stated.
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Mining sector decline detering Perth property market investment: WBP

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<img src="https://counter.theconversation.edu.au/content/66408/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
The story of Perth’s low-density composition and growth is well understood.
The increasingly urgent need to develop infill housing for a growing population that results in a more compact city form have been well communicated and form an inevitable part of the discussion about density. In the last decade, this reasoning has become broadly accepted.
However, understanding the problem is one thing; exploring its potential solutions is another. Economics, stigma, inertia and layers of legislation mean Perth is substantially failing to meet the state government target of 47% infill for new residential development across the metropolitan area by 2031.
The primary mechanism that local governments have used to implement the top-down long-term vision for more infill housing is “upcoding”; that is, identifying and increasing sites with higher development potential. This has a number of consequences:
<ul>
<li>
increasing friction between supporters of market-driven speculation and those calling for affordable housing;
</li>
<li>
the entrenchment of NIMBYism;
</li>
<li>
built-form policies that prevent sites from reaching their potential; and
</li>
<li>
questioning of whether infill density is improving or dismantling the spatial and cultural qualities of our suburbs.
</li>
</ul>
It is debatable whether more or less regulation might help to achieve the infill targets. On the one hand, further top-down regulation may be needed to force targets to be met. On the other, the bluntness of the instruments used for housing delivery may prevent innovative approaches to density and development from appearing.
Is there an alternative? Can regulation ever be expected to deal adequately with the complexities of how people could, should and want to live together? 
Can current regulation become an instrument to support non-standard approaches to achieving density? Can individual buildings be prototypes that permit a range of possibilities for planning legislation? Could density conditions be negotiated rather than preordained? And, if they can be, what might happen?
<h2>A fresh take on density 
</h2>
It is worth considering a project where these questions have come into play.
Built in 1923 as a wool and hide store, the Primaries warehouse in Fremantle was used to stored wool for 70 years until it was purchased for conversion into residential units. In 1993, approval was granted for 17 dwellings on the site. This was in addition to 23 dwellings that had been approved three years prior and subsequently built.
The resultant 40 grouped dwellings doubled the allowable density of the R35 site (the R35 code stipulates a minimum site area of 220m² per dwelling). This was made possible through a density bonus, granted under a clause of the town planning scheme relating to “places, buildings and objects of historical or scientific interest”. 
Council could relax any provision of the scheme, including the density of a site, where part of an existing building deemed to be significant was being preserved. In this instance, it was proposed to retain the roof structure and external walls of the 6,070m² warehouse. As a result, the site density was varied considerably, as were the required setbacks and the private open space requirements.
Brian Klopper, a local architect becoming increasingly known for his canny, idiosyncratic residential projects, was engaged to design both stages of the development. Stage 2 sold in just eight weeks. 
Within the boundary perimeter walls, Klopper inserted three rows of grouped housing and two large open courts. The courts function as inner streets, open to the sky. They allow for pedestrian and car access, for open car parking, for shared gardens, for each dwelling to address.
The houses are built in rows, with party walls at right angles to the perimeter walls and terminated on the inner court ends by full-height curtain glass walls. This is a terrace-house typology, expanded vertically and flooded with light.
Multifunctional and multifarious, the two-and-a-half-storey units have adaptable spaces. Occupants are able to use these as houses or for office or retail purposes, with little or no modification.
The most compelling aspect of the Primaries project, with the most enduring relevance, is its deft balancing of communality and privacy. It is a remarkable exemplar of medium-density development because it maintains the ideals of an individual house – privacy, comfort and customisability – within the compact dimensions of a collective residential cluster. 
The defining feature of the inner courts is public space. Connectivity, so often suppressed in multi-unit developments, is enhanced.
<h2>Flexible rules expand possibilities</h2>
This is a propositional project. It proposes a way of living in the city and of approaching density. The density bonus provision allowed the developer, architect and planners to establish the rules and conditions of the site, rather having to follow rules.
Negotiated conditions were necessary due to the unique nature of the warehouse. It’s worth considering that if the warehouse had not existed on the site, the scheme, even in identical form, would have been unlikely to be approved.
It’s also worth reconsidering subdivision. We are accustomed to subdivision being about land; to density codes being related to minimum site areas and plot ratios. Perhaps density is more about people than buildings; about occupation, not containers. 
We may need to consider new ways of subdividing all sorts of buildings, rather than land. And we may need to build things that are subdivisible from the outset.
It’s possible to imagine other projects initiating progressive planning conditions. It’s possible to imagine height and setback provisions being varied for projects that demonstrate exceptional solar access and ventilation. It’s possible to imagine density bonuses based on performance, adaptability, communality or affordability. 
With these sorts of expanded parameters for density bonuses, at once specific and wide-ranging, initiated and tested by project, new forms of housing may emerge that more effectively serve our contemporary, changing city.
Jennie Officer is senior lecturer in Architecture, University of Western Australia and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/jennie-officer-305137" target="_blank">here</a>.
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Reinventing density: bending the rules can help stop urban sprawl

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The asking price for a one bedroom unit in Perth has been discounted from $320,000 in September to $250,000 according to SQM Research.
SQM Research managing director Louis Christopher said the Perth vacancy rate is very high at 7.3 percent and looks like it could be going up still, while<a href="https://sqmresearch.us5.list-manage1.com/track/click?u=9badbd870addb4af72206c2eb&amp;id=fe3dc22b2f&amp;e=0aab96dc54"> </a>asking rents for units are well down over the past three years.
"Back in September, the owner of 1019/305 Murray Street wanted $320,000. Now, after successive price drops, the price tag for this one-bedroom unit has dropped to $250,000, so you could be bagging a bargain," he said.
"There is some very sobering news on the Perth CBD.
"A<a href="https://sqmresearch.us5.list-manage1.com/track/click?u=9badbd870addb4af72206c2eb&amp;id=df8a1d628b&amp;e=0aab96dc54">s</a>king prices for some units are up and look like they could be bottoming. Given the big discount of $70,000, it may be worth a look. But if you're a landlord looking to invest, you might be scratching around for tenants for some time, as business activity in Perth remains depressed due to the mining downturn, keeping the vacancy rate well up."
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