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

Perth

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A Western Australian property manager, Van Dung Nguyen, formerly of Girrawheen, Perth, has been banned from holding a real estate and business agents’ licence, as well as a triennial certificate, for five years. He was also fined $3,000.
Nguyen failed to deposit rental income into a trust account, receiving $13,660 from a tenant for rent, water rates, strata levies and management fees between January 2012 and October 2012, which he then used to pay personal expenses and unrelated business expenses.
He operated Golden Investments Pty Ltd, which is now deregistered. The owner of the Girrawheen properties was left out of pocket.
Nguyen filed for bankruptcy in September 2013 and now lives in Queensland.
The fine was decided at the Western Australian State Administrative Tribunal on 20 November 2014.
Commissioner for Consumer Protection Anne Driscoll said that income from rental properties needed to be kept separate to the operational account.
“The law requires that rent and other payments from tenants must be placed in a separate trust account so that the transactions are transparent and the funds cannot be mixed with the day to day financial operations of the agency,” Driscoll said.
“This allows for easy auditing and gives both the tenant and property owner confidence to know that their funds are being used appropriately.”
She noted that real estate agents who take money from the trust accounts, even on a borrowing basis, to pay operation expenses are breaking the law.
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jduke-EHk3XBmHkn

Perth property manager banned for five years after using rent for personal expenses

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If you’re familiar with the Perth property market, you’d be aware that the ‘spring selling season’ is considered the most active selling period of the year. 
However this isn’t entirely accurate.
While it’s true there is generally a surge of activity during spring, there is a misconception that September is the start of the boom period, when in fact data suggests sales don’t pick up until October.
Closer analysis of the spring selling season indicates that September is actually the Achilles heel of the notional spring selling period.
There has only been one occasion since 1994 – September 2008 – that we actually saw a lift, every other September in the past 20 years has actually seen sales fall.
Having one less selling day than July, August and October is one theory behind why there is traditionally a drop in September, another is the long weekend that tends to fall during the month, and a case could also be made that with September being the last month for many sporting codes, weekends are taken up with finals instead of home inspections.
The impact these factors have on overall activity cannot be officially measured, but it’s reasonable to suggest they influence activity.
When we really look at it, the spring selling season is confined to just October and November as we then experience a fall away in activity in December as we approach the festive season.
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dairey-MVZf5ZguQC

Perth's spring selling myth

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The Perth residential property market is officially in decline.
House prices fell in Perth during the September quarter, albeit by just 0.1%, according to the Australian Bureau of Statistics (ABS).
It was the only capital to record a decline in the ABS price index, released today.
Perth dwelling prices still sit 3.6% up for the year, but gone are the days when Perth’s housing market was the strongest in the country, boosted by the thriving mining industry.
Westpac economist Matthew Hassan noted the preliminary estimate of the ABS Residential Property Price Index showed "a notable slowdown" in Perth with prices flat over the last six months.
The preliminary estimate of the ABS Residential Property Price Index showed a solid 1.5% gain in Q3, down on Q2's 1.9% gain but in line with Q1's 1.4% rise.
Annual price growth has moderated from a peak of 10.8% at the start of the year to 9.1% in Q3, a result that was in line with expectations, Hassan suggested.
"All price measures are pointing to a clear moderation in momentum in 2014 although most suggest this is a step down from a 10-14% annualised pace to a 6-8% pace.
"To date, readings for the second half of the year point to a continuation of this pace rather than a further slowdown.
The ABS index detail shows national house prices up 1.6% over the quarter, 9.2% over the year and attached dwellings up 1.2% over the quarter, and 8.5% over the year.
He noted that estimates for Q3 and Q2 are still preliminary and subject to revision.
The ABS plans to change this arrangement in 2015, pushing back the release date by six weeks so that published figures will be 'final' from first release.
"Unfortunately that will make what is already the last price measure to be published even less timelier and useful for analysts," Hassan said.
The capital city breakdown continues to show strong gains in Sydney (+14.6% year on year), more moderate gains in Melbourne (+6.9% year on year), Brisbane (+6.7% year on year) and Adelaide (+5.6% year on year).
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jchancellor-FAypfDUnLy

As mining eases Perth residential market marginally in decline: ABS

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The third floor apartment in a luxury South Perth promenade apartment building has sold off the plan for $15.2 million.
Setting a new Perth apartment price record, the sale represented $35,000 per square metre.
<img src="/images/2014/11/05/south-perth-nov-4-one.jpg" alt="">
The 93 South Perth Esplanade is four riverfront reserve apartments which was recently completed.
The local paper says it was purchased during construction by an unidentified leading Perth businessman in education and energy provision, and his wife.
Property Observer gathers it is Rod Jones and his wife, Carol.
<img src="/images/2014/11/05/south-perth-nov-4-three.jpg" alt="">
The project is headed by estate agent Mal Dempsey who owns the penthouse in the building. He is one of four syndicate members involved in the development of the complex.
The second floor is set to come on the market with more than 600 square metre of space, with four en suite bedrooms, three separate living areas, a wine cellar, four-car garage and a library.
Property Observer gathers the previous highest sale along the prime promenade was $10.8 million in 2012. There was a $9.8 million sale in 2010.
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South Perth record $15.2 million off the plan sale

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The Real Estate Institute of Western Australia’s (REIWA) latest figures have Perth’s median house price lifting 1% over the September quarter to $548,000.
However, REIWA’s president David Airey warns a downturn should be expected in 2015.
While the median price is up by a small amount, sales turnover is now at its lowest level in two years, with listings for sale trending upwards fast while rents fall. This spells bad things for property owners over the next year, says Airey.
Here are the Real Estate Institute of Western Australia's signs a downturn is coming:
<ol>
<li>Turnover for Perth houses sits 12% below average. 
</li>
<li>There were 10,250 listings in the September quarter. 
</li>
<li>House price growth is currently moderating – up only 1% over the September quarter. 
</li>
<li>Average days on market up by two days, to 59. 
</li>
<li>Number of vendors dropping their asking prices increased from 48% to 51% (with an average price reduction of 5.3%). 
</li>
<li>The rental market’s number of properties for lease did soften (now at 5,711), however this is almost 50% up on September 2013. The vacancy rate is at 4% and it takes owners an average of 33 days to find a tenant. 
</li>
<li>Rents have softened across Perth – house rents are down $10 to a median of $450 per week. Apartments, units and villas dropped by $15 to a median of $430 per week. This is down 4.3% on last year.</li>
</ol>
Source: REIWA
There is some good news. Airey points to turnover for units, apartments and villas up 7%, despite early Landgate data pointing to a 3.3% fall in median price to $435,000. Regional areas also bucked the downturning Perth trend, with turnover unchanged over the quarter.
First home buyers may be making a small resurgence, with an increase in turnover in the price sectors below the median price – a typical first home buyer activity spot. The Office of State Revenue noted that as of September, the median first home buyer purchase is now at $432,00 compared to $456,500 in July.
“This is good news for first home buyers on one hand, but it also shows they are becoming harder to find in the established home market,” Airey said.
Across the city, investors need to be astute and look for signs of change ahead, said Airey.
“The extent to which the low level of sales, increase in listings, soft rental market and low consumer sentiment might influence the housing system in the longer term may become apparent in the December quarter,” he said.
“Perth’s equilibrium for listings in a balanced market is around 12,000 and indications are that we will clearly surpass this in 2015 which will add to selling days and put downwards pressure on price.”
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Seven signs a Perth market downturn is nigh: David Airey

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A new report from Knight Frank, shared on Twitter by associate director Michelle Ciesielski, includes a forecast that Perth’s capital growth will remain steady.
The Perth Apartments Residential Market Brief for Q3 2014 points to local and foreign developers pushing ahead with new projects in Perth, with the strongest projected population growth for all capital cities across the country.
<a href="https://www.propertyobserver.com.au/https://twitter.com/MCiesielski_AU/status/527624334504763392" target="_blank"><img src="/images/2014/10/30/tweet-oct-30-one.jpg" alt=""></a>
“Three quarters of Western Australia’s population live in the capital of Perth. Over the next 30 years this population is projected by the Australian Bureau of Statistics (ABS) to rise annually by 3.5% to 4.2 million persons, far outstripping the projected annual Australian average of 1.7 percent,” writes Ciesielski <a href="https://content.knightfrank.com/research/313/documents/en/perres1410-2427.pdf" target="_blank" style="line-height: 1.3em;">in the report</a>.
In the year to August 2014, a total of $177 million of development sites were purchased. Foreign buyers were noted as making up 25% of these sales.
When looking to building permits to July 2014, the Australian Bureau of Statistics tallied 7,036 approvals – up 24.2% on the previous year.
The strongest LGAs were as Stirling - with 1,157 approvals - Belmont and Cockburn.
However, even with strong population figures and apartment developments, Knight Frank expect a steady environment rather than strong capital growth in 2015.
They believe vacancies may trend above the 3% “market equilibrium” for the medium term due to new supply coming onto the market.
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Knight Frank predict steady Perth unit market: Tweet of the day

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GUEST OBSERVATION
The declining rate of infill housing in Perth means that a state government backflip on residential design codes would be detrimental to the city’s future development, leading to a restriction in housing choice and further urban sprawl.
Perth’s infill rate, that is residential developments within established suburbs compared to greenfield areas, dropped to 28% in 2012 - down from 32% in the previous year.
The figures, which were recently published by the Western Australian Planning Commission’s (WAPC) Urban Growth Monitor report, fall extraordinarily short of the long-term infill target of 47%.
This target was set as part of the state government’s strategic development plan, Directions 2031 and Beyond, and created to slow Perth’s urban sprawl as the city’s population is expected to balloon substantially in the years ahead.
The fact that the city’s infill rate is far below the long-term target, and more critically, that the rate is actually declining, demonstrates that calls from the WAPC to cut the number of dwellings allowed on certain properties would further undermine Perth’s development strategy.
The WAPC is seeking ministerial approval to effectively reverse a 2010 amendment to residential design codes that significantly increased the number of dwellings allowed on properties zoned R-30 and R-35.
The amendment cleared the way for up to 10 units to be built on 1,000 square metre blocks that are zoned R-30, up from just three units previously.
The move to scrap the amendment is in response to concerns about the impact on predominately single dwelling or grouped dwelling neighbourhoods.
<blockquote>
Fast Facts:
32% – The historical net infill housing rate in Perth 47% – The long-term housing infill target rate 59% – Portion of infill developments with one dwelling (2011-2012)
</blockquote>
While I agree that medium or high density housing should not be on every street on every suburb, if the WAPC’s calls are granted, then it simply gives the green light for councils to further resist development in established areas, producing and exacerbating problems for the wider community.
If the state government was to backflip on these reforms it would only put further downward pressure on Perth’s development infill rate and make it very difficult to reach the infill target of 47%.
Subsequently, housing choice in established suburbs would be significantly diminished, more people would be forced to live on the urban fringe and housing values would be impacted.
While it is understandable that some might hold concerns about increased traffic in medium and high-density areas, studies have found that building such developments near public transport generally have minimal impact.
Furthermore, if managed and designed properly, a 10 unit development can be smaller in size than three townhouses on one lot.
If Perth is going to accommodate a rapidly growing population, which increasingly wants to live near work and amenities, we simply can’t afford for the urban sprawl to continue indefinitely.
<img src="/images/2014/10/27/collins-oct-17-one.jpg" alt="">
Damian Collins is the founder and managing director of <a href="https://www.momentumwealth.com.au/" target="_blank">Momentum Wealth</a>, a Perth-based property consultancy that specialises in building the long-term wealth of its clients by assisting in the strategic selection, financing, acquisition, development and management of their investment properties.
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DamianCollins-BiwU8NaWEC

Perth risks indefinite urban sprawl with new residential zoning proposals

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The WA government’s strategy to reform local government in Perth has been welcomed by the Property Council of Australia, after a recent report recommended slashing the number of councils.
The Local Government Advisory Board’s final report suggests reducing the total number of councils from a current figure of 30 down to 16.
Property Council of Australia executive director Joe Lenzo said that there is a lot of uncertainty in the property sector that the announcement will help clear up.
“It is now crucial that the government meets its 1 July 2015 deadline for implementing the majority of the new local government framework,” Lenzo said.
“The new local government framework, with larger and better resourced councils, will mean property businesses and the community can expect more timely and effective services like local planning and building approval processes, and greater support for the growth of local economic centres.”
He noted that the Property Council endorses the introduction of the City of Perth Act that would recognise the investment occurring in Perth CBD and its benefits for the rest of Western Australia.
“We recognise that it will take longer for the formation of the new City of Riversea, including five western suburb councils, however the full benefits of local government reform in Perth will only occur if this matter is also resolved as soon as possible after 1 July 2015,” he said.
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Perth’s council reform welcomed by Property Council of Australia

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Recently, Momentum Wealth’s Damian Collins wrote a couple of articles about the environment in Perth, generating some interesting reader comments.
He has a <a href="/news/wa/perth-property-market-tipped-to-heat-up-for-spring">positive outlook for where values are heading in Perth this season</a>, noting that despite the slowdown in recent months, after solid 2013 growth, there may yet be an uptick left for spring.
“While the market may be a little more volatile due to the fluctuations in the mining sector, the long-term outlook remains very positive,” he concluded.
He also noted that <a href="/news/wa/despite-slowdown-perths-rental-market-is-strong">the rental market is expected to improve</a>.
{mijopolls 47}
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Perth’s market conditions: Uptick or slowdown?

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Another 26 metropolitan Perth suburbs recorded house and unit sales of $1 million or more, according to new data from the Real Estate Institute of Western Australia (ERIWA).
According to REIWA, 8.2% of houses and 3.4% of apartments sales were between $1 million to $2 million, as compared to 6.7% of houses and 3.3% of apartments in 2012/2013.
REIWA president David Airey notes that their list of suburbs is based on where transactions occurred at this price point, not where the median exceeds $1 million. This means the list won't look quite as expected to those used to seeing "million dollar median" lists.
“Six suburbs are completely new to this list while others have returned from previous years after being absent in 2012-13,” Airey said.
Some of the sales included large blocks with single dwellings that would suit multi-residential developments purposes, with others being more typical.
At present, REIWA data records Perth’s median house price at $540,000, with apartments’ median sitting at $450,000.
The June quarter median recorded price per lot for land was $285,000. The regional WA median prices for houses, apartments and land lots were $380,000, $330,000 and $180,000 respectively.
The six new entrants on the million dollar list:
<ol>
<li>
<a href="/news">Ellenbrook</a> 
</li>
<li>
<a href="/news">Huntingdale</a> 
</li>
<li>
<a href="/news">North Lake</a> 
</li>
<li>
<a href="/news">Piara Waters</a> 
</li>
<li>
<a href="/news">Pickering Brook </a> 
</li>
<li><a href="/news">Wandi</a></li>
</ol>
Source: REIWA
See over page for the entire list of million dollar transaction suburbs.
<hr class="system-pagebreak">
The 26 new suburbs added to the million dollar transaction suburb list:
<ol>
<li>
<a href="/news">Atwell </a> 
</li>
<li>
<a href="/news">Bedfordale </a> 
</li>
<li>
<a href="/news">Belmont</a> (notably the only new entry with apartment sales over $1 million) 
</li>
<li>
<a href="/news">Currambine </a> 
</li>
<li>
<a href="/news">Edgewater</a> 
</li>
<li>
<a href="/news">Ellenbrook</a> 
</li>
<li>
<a href="/news">Golden Bay </a> 
</li>
<li>
<a href="/news">Gosnells </a> 
</li>
<li>
<a href="/news">Harrisdale </a> 
</li>
<li>
<a href="/news">Helena Valley</a> 
</li>
<li>
<a href="/news">Huntingdale</a> 
</li>
<li>
<a href="/news">Kelmscott </a> 
</li>
<li>
<a href="/news">Madeley </a> 
</li>
<li>
<a href="/news">Mount Nasura </a> 
</li>
<li>
<a href="/news">Munster</a> 
</li>
<li>
<a href="/news">North Lake</a> 
</li>
<li>
<a href="/news">Piara Waters</a> 
</li>
<li>
<a href="/news">Pickering Brook </a> 
</li>
<li>
<a href="/news">Port Kennedy </a> 
</li>
<li>
<a href="/news">Secret Harbour </a> 
</li>
<li>
<a href="/news">Spearwood </a> 
</li>
<li>
<a href="/news">St James</a> 
</li>
<li>
<a href="/news">Wandi</a> 
</li>
<li>
<a href="/news">Warnbro </a> 
</li>
<li>
<a href="/news">White Gum Valley </a> 
</li>
<li><a href="/news">Wilson</a></li>
</ol>
Source: REIWA
You might also want to read:
<a href="/news/wa/western-australias-10-most-expensive-suburbs-to-rent-a-house">Western Australia's 10 most expensive suburbs to rent a house</a>
<a href="/news/the-2014-hia-home-of-the-year-in-dalkeith-perth-listed-for-8-million-plus">The 2014 HIA home of the year in Dalkeith, Perth listed for $8 million plus</a>
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