The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Joel Robinson

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

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

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

Bottega House secures landmark riverfront site in St Lucia 

<section data-scroll-anchor="false" data-testid="conversation-turn-6" data-turn="assistant" data-turn-id="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-2" data-turn-id-container="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-2" dir="auto">
<section data-scroll-anchor="false" data-testid="conversation-turn-2" data-turn="assistant" data-turn-id="request-WEB:5a5ab36c-8dd3-454c-b456-c501f22f0eb4-0" data-turn-id-container="request-WEB:5a5ab36c-8dd3-454c-b456-c501f22f0eb4-0" dir="auto">
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

Queensland

<html><body>
Unit owners in Queensland will have to wait until the second half of 2015 to learn the recommendations of a contentious review into strata by-laws, debt recovery and scheme termination.
Before the Queensland state election in January, <a href="https://www.goldcoastbulletin.com.au/news/queensland-state-election-2015/pollies-face-barrage-of-questions-on-body-corp-laws-as-angry-unit-owners-demand-answers/story-fnr8vz6s-1227200299598" target="_blank">unit owners vented their frustration that the timing of the review</a> – which closed for consultation on 30 January, the day before the election – meant its contents could not be made into an election issue.
The options paper called for comments on by-laws such as parking, pets in apartments, smoking on balconies and overcrowding, as well as how bodies corporate should be allowed to recover debt and terminate their schemes.
The Unit Owners Association of Queensland criticised the review for failing to consider 25-year management rights contracts awarded by developers.
Strata Community Australia president Simon Barnard warned against any knee-jerk reactions to proposals put forward in the options paper to ban unit owners from smoking on their balconies.
Over 300 submissions were received in response to the paper, a spokesperson for the Queensland Office of Fair Trading told Property Observer.
Queensland University of Technology’s Commercial and Property Law Research Centre, which was engaged by the Newman government in 2013 to conduct the review, is now considering the submissions.
It will release a report based on its analysis in the second half of 2015. The submissions will also be made public at that time, provided the submitter has not specifically requested confidentiality, the spokesperson said.
The review aims to cut red tape, regulation and property law duplication to help streamline the way Queenslanders buy, sell and manage property.
Two additional consultation papers into Queensland’s body corporate laws are under development and due for release later in the year.
The second paper will examine administrative and procedural issues including general meetings, the body corporate committee, and dispute resolution.
A third paper will consider the possibility of bringing community title schemes, which are now regulated separately from strata schemes, under the Body Corporate and Community Management Act 1997.
The body corporate review is part of a larger examination of Queensland’s property laws that QUT is conducting. In early 2014, the broader review investigated seller disclosures in Queensland and setting and adjusting lot entitlements for community title schemes. 
</body></html>

zfielding-GvX3Uq9KTa

Queensland strata law review recommendations due later this year

<html><body>
Ipswich ranks as the strongest Queensland price growth region with its $320,000 median house price at almost half the capital, the latest data from the Real Estate Institute of Queensland (REIQ) reveal.
Ipswich's median house price increased by 6.7% over the quarter, the largest gain recorded by any area across Queensland.
Brisbane’s median house price has meanwhile hit $600,000 for the first time, rising by 3.4% over the quarter.
The REIQ’s December quarter 2014 data showed Brisbane’s record median house price was largely the result of the city’s strengthening $1 million plus house market.
“Brisbane’s prestige housing sector is firing on all cylinders, with 332 sales recorded in the December quarter - up from 274 sales the previous quarter,” REIQ CEO Antonia Mercorella said.
DECEMBER QTR 2014
HOUSES (&lt;2400)
<table style="width: 460px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" nowrap width="132">
LGA
</td>
<td valign="bottom" width="84">
Median Sale
</td>
<td valign="bottom" width="74">
Qtrly change
</td>
<td valign="bottom" width="74">
Sales Activity change
</td>
</tr>
<tr>
<td nowrap width="132">
GREATER BRISBANE
</td>
<td nowrap width="84">
 
</td>
<td nowrap width="74">
 
</td>
<td nowrap width="74">
 
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="132">
BRISBANE SD
</td>
<td valign="bottom" nowrap width="84">
$   482,000
</td>
<td valign="bottom" nowrap width="74">
3.5%
</td>
<td valign="bottom" nowrap width="74">
0%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="132">
BRISBANE
</td>
<td valign="bottom" nowrap width="84">
$   600,000
</td>
<td valign="bottom" nowrap width="74">
3.4%
</td>
<td valign="bottom" nowrap width="74">
3%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="132">
IPSWICH
</td>
<td valign="bottom" nowrap width="84">
$   320,000
</td>
<td valign="bottom" nowrap width="74">
6.7%
</td>
<td valign="bottom" nowrap width="74">
-8%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="132">
LOGAN
</td>
<td valign="bottom" nowrap width="84">
$   354,000
</td>
<td valign="bottom" nowrap width="74">
3.8%
</td>
<td valign="bottom" nowrap width="74">
-6%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="132">
MORETON BAY
</td>
<td valign="bottom" nowrap width="84">
$   395,000
</td>
<td valign="bottom" nowrap width="74">
3.3%
</td>
<td valign="bottom" nowrap width="74">
-2%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="132">
REDLAND
</td>
<td valign="bottom" nowrap width="84">
$   479,000
</td>
<td valign="bottom" nowrap width="74">
2.4%
</td>
<td valign="bottom" nowrap width="74">
6%
</td>
</tr>
<tr>
<td nowrap width="132">
TOURISM CENTRES
</td>
<td nowrap width="84">
 
</td>
<td nowrap width="74">
 
</td>
<td nowrap width="74">
 
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="132">
GOLD COAST
</td>
<td valign="bottom" nowrap width="84">
$   520,000
</td>
<td valign="bottom" nowrap width="74">
5.1%
</td>
<td valign="bottom" nowrap width="74">
7%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="132">
SUNSHINE COAST
</td>
<td valign="bottom" nowrap width="84">
$   482,000
</td>
<td valign="bottom" nowrap width="74">
1.8%
</td>
<td valign="bottom" nowrap width="74">
14%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="132">
NOOSA
</td>
<td valign="bottom" nowrap width="84">
$   520,000
</td>
<td valign="bottom" nowrap width="74">
-0.5%
</td>
<td valign="bottom" nowrap width="74">
-11%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="132">
FRASER COAST
</td>
<td valign="bottom" nowrap width="84">
$   285,000
</td>
<td valign="bottom" nowrap width="74">
-0.5%
</td>
<td valign="bottom" nowrap width="74">
12%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="132">
CAIRNS
</td>
<td valign="bottom" nowrap width="84">
$   390,000
</td>
<td valign="bottom" nowrap width="74">
2.9%
</td>
<td valign="bottom" nowrap width="74">
-14%
</td>
</tr>
<tr>
<td nowrap width="132">
REGIONAL CENTRES
</td>
<td nowrap width="84">
 
</td>
<td nowrap width="74">
 
</td>
<td nowrap width="74">
 
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="132">
BUNDABERG
</td>
<td valign="bottom" nowrap width="84">
$   275,000
</td>
<td valign="bottom" nowrap width="74">
2.2%
</td>
<td valign="bottom" nowrap width="74">
-11%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="132">
GLADSTONE
</td>
<td valign="bottom" nowrap width="84">
$   356,250
</td>
<td valign="bottom" nowrap width="74">
-4.7%
</td>
<td valign="bottom" nowrap width="74">
-9%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="132">
MACKAY
</td>
<td valign="bottom" nowrap width="84">
$   370,000
</td>
<td valign="bottom" nowrap width="74">
-5.4%
</td>
<td valign="bottom" nowrap width="74">
-13%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="132">
ROCKHAMPTON
</td>
<td valign="bottom" nowrap width="84">
$   294,000
</td>
<td valign="bottom" nowrap width="74">
-3.6%
</td>
<td valign="bottom" nowrap width="74">
-4%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="132">
TOOWOOMBA
</td>
<td valign="bottom" nowrap width="84">
$   350,000
</td>
<td valign="bottom" nowrap width="74">
3.1%
</td>
<td valign="bottom" nowrap width="74">
0%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="132">
TOWNSVILLE
</td>
<td valign="bottom" nowrap width="84">
$   352,500
</td>
<td valign="bottom" nowrap width="74">
3.7%
</td>
<td valign="bottom" nowrap width="74">
-6%
</td>
</tr>
</tbody></table>
UNITS &amp; TOWNHOUSES
<table style="width: 460px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" nowrap>
LGA
</td>
<td valign="bottom">
Median Sale
</td>
<td valign="bottom">
Qtrly change
</td>
<td valign="bottom">
Sales Activity change
</td>
</tr>
<tr>
<td nowrap>
GREATER BRISBANE
</td>
<td>
 
</td>
<td>
 
</td>
<td>
 
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
BRISBANE SD
</td>
<td valign="bottom">
$   385,000
</td>
<td valign="bottom">
0.0%
</td>
<td valign="bottom">
-15%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
BRISBANE
</td>
<td valign="bottom">
$   418,500
</td>
<td valign="bottom">
-0.4%
</td>
<td valign="bottom">
-14%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
IPSWICH
</td>
<td valign="bottom">
$   240,000
</td>
<td valign="bottom">
-0.8%
</td>
<td valign="bottom">
-21%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
LOGAN
</td>
<td valign="bottom">
$   240,000
</td>
<td valign="bottom">
-0.4%
</td>
<td valign="bottom">
-15%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
MORETON BAY
</td>
<td valign="bottom">
$   307,500
</td>
<td valign="bottom">
-3.7%
</td>
<td valign="bottom">
-14%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
REDLAND
</td>
<td valign="bottom">
$   338,000
</td>
<td valign="bottom">
-5.3%
</td>
<td valign="bottom">
-14%
</td>
</tr>
<tr>
<td nowrap>
TOURISM CENTRES
</td>
<td>
 
</td>
<td>
 
</td>
<td>
 
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
GOLD COAST
</td>
<td valign="bottom">
$   350,000
</td>
<td valign="bottom">
2.9%
</td>
<td valign="bottom">
-6%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
SUNSHINE COAST
</td>
<td valign="bottom">
$   349,500
</td>
<td valign="bottom">
2.0%
</td>
<td valign="bottom">
0%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
NOOSA
</td>
<td valign="bottom">
$   375,000
</td>
<td valign="bottom">
-5.1%
</td>
<td valign="bottom">
-16%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
FRASER COAST
</td>
<td valign="bottom">
$   270,000
</td>
<td valign="bottom">
12.5%
</td>
<td valign="bottom">
8%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
CAIRNS
</td>
<td valign="bottom">
$   208,000
</td>
<td valign="bottom">
-1.0%
</td>
<td valign="bottom">
-14%
</td>
</tr>
<tr>
<td nowrap>
REGIONAL CENTRES
</td>
<td>
 
</td>
<td>
 
</td>
<td>
 
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
BUNDABERG
</td>
<td valign="bottom">
$   265,000
</td>
<td valign="bottom">
12.8%
</td>
<td valign="bottom">
3%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
GLADSTONE
</td>
<td valign="bottom">
$   233,300
</td>
<td valign="bottom">
-36.9%
</td>
<td valign="bottom">
24%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
MACKAY
</td>
<td valign="bottom">
$   365,000
</td>
<td valign="bottom">
21.3%
</td>
<td valign="bottom">
-68%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
ROCKHAMPTON
</td>
<td valign="bottom">
$   350,000
</td>
<td valign="bottom">
-15.7%
</td>
<td valign="bottom">
-36%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
TOOWOOMBA
</td>
<td valign="bottom">
$   268,750
</td>
<td valign="bottom">
-3.7%
</td>
<td valign="bottom">
-32%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
TOWNSVILLE
</td>
<td valign="bottom">
$   290,000
</td>
<td valign="bottom">
15.2%
</td>
<td valign="bottom">
-13%
</td>
</tr>
</tbody></table>
Source: REIQ QueenslandMarket Monitor, data supplied by Core Logic RP Data.
Picture courtesy of Wikimedia Commons/Clarebear/ <a href="https://www.propertyobserver.com.au/https://creativecommons.org/licenses/by-sa/3.0" target="_blank">CC BY-SA 3.0</a>.
</body></html>

jchancellor-FAypfDUnLy

Ipswich the strongest Queensland house price region: REIQ

<html><body>
GUEST OBSERVATION
With a population of approximately 170,000 people, Toowoomba is Australia’s second largest, non-coastal city, behind Canberra. It is the only zone in South East Queensland not to experience population growth above the national average over the last decade.
While its property market has teased with glimpses of green shoots every so often Toowoomba mostly underperformed over the last decade.
Situated 700 metres above sea level on the Great Dividing Range, ‘The Garden City’ is among rich volcanic soils. With agriculture among its economic mix, prolonged drought adversely affected the region for a few years, although new infrastructure has subsequently improved water security.
The city is a well established service centre for the Darling Downs agriculture industry, the expanding coal and gas industry in the Surat Basin, and the army aviation centre at Oakey. Toowoomba is also somewhat of an education hub with the well-funded South Queensland University, a few small university campuses and quality private schools.
A new, <a href="https://www.facebook.com/Propertyology" target="_blank">international-scale airport</a> officially opened in November 2014. This significant piece of transport infrastructure has the potential to <a href="https://www.propertyology.com.au/understanding-asian-century-key-to-success/" target="_blank">open up the region’s economy</a>. Qantas has already committed to a dozen flights per week to and from Sydney
Construction of the Wellchamp business park is currently underway and there is also a proposal for a nearby aviation school. $500 million is to be invested in expansion of retail facilities.
The tender for the <a href="https://www.propertyology.com.au/wp-content/uploads/2014/04/2014_09_Propertyology_MainEmploymentSectors_web.pdf" target="_blank">$1.5 billion Second Range Crossing</a> project is due to be announced early in 2015; construction should start shortly thereafter. This will significantly improve general public access between Brisbane and Toowoomba and significantly improve road freight safety and commute times.
Up and down housing supply from year to year has tended to keep pace with demand overall. <a href="https://www.propertyology.com.au/your-results/" target="_blank">Our research</a> suggests areas where new supply will be concentrated most include Highfields, Gowrie, Glenvale, and Westbrook.
<img src="/images/2015/02/25/Toowoomba_SupplyDemand_2006-2014.jpg" alt="">
Toowoomba is positioned along a national inland freight corridor and the proposed Melbourne-Brisbane inland port. Private and government investment <a href="https://www.propertyology.com.au/more-than-a-buyers-agent/">provides opportunities</a> for economic growth in tourism, agricultural, aviation, warehousing and logistics.
Simon Pressley is managing director of <a href="https://www.propertyology.com.au/more-than-a-buyers-agent/">Propertyology</a>, a full-time property market analyst, accredited property investment adviser, and Australia’s (REIA) Buyer’s Agent of the Year (2012+2013+2014).
Photo courtesy of Porjo/ <a class="mw-mmv-license" href="https://creativecommons.org/licenses/by-sa/3.0/" target="_blank" style="font-size: 12.1599998474121px; line-height: 1.3em;">CC BY-SA 3.0</a>.
<h2>How to purchase high-performing investment properties: a free Propertyology eBook</h2>
 
 
</body></html>

spressley-sBoeMhannA

Toowoomba has underperformed, but new infrastructure is promising: Simon Pressley

<html><body>
H&amp;M, the international retail giant, has announced the opening of its third Queensland store.
Located in Brisbane's Westfield Garden City, the store is set to open in May, the website<a href="https://www.ragtrader.com.au/news/handm-where-to-next?utm_medium=email&amp;utm_campaign=Newsletter+05+March+2015&amp;utm_content=Newsletter+05+March+2015+CID_0cceae9bf660fa3e671839f3ae9a9bda&amp;utm_source=Email%20marketing%20software&amp;utm_term=HM%20where%20to%20next" target="_blank"> ragtrader</a> revealed.
It will follow an opening in Indooroopilly Shopping Centre in Queensland tomorrow, as well as a Queen Street site later in the year.
H&amp;M also has stores in Melbourne's GPO in Victoria and Macquarie Centre in North Ryde.
Australia's first H&amp;M fashion store<a href="/expert-insights/investing/h-m-set-for-australian-roll-out-as-its-first-local-store-launches-tomorrow"> opened in Melbourne's GPO building</a> in the Bourke Street mall.
The chain has about 3,182 stores in 53 countries, opening a further 375 this year.
It took around three years to find the initial outlet sites in Australia, including the distribution warehouse at Eastern Creek in Sydney.
</body></html>

H&M opening third Queensland department store

<html><body>
The Queensland government will consider a ministerial ‘call in’ of the proposed Cedar Woods development at Upper Kedron in Brisbane.
Deputy Premier and Minister for Infrastructure, Local Government and Planning Jackie Trad, said she was using her powers under the Sustainable Planning Act 2009 to issue a proposed ‘call in’ notice for the Cedar Woods development application.
“Today I have notified all parties – the developers and the community – that I am considering a ‘call-in’ for the proposed Cedar Woods development,” Trad said.
The planning matter was raised during the election campaign with the community raising concerns around traffic impacts.
There were also concerns whether the development is in accordance with Brisbane City Council’s planning scheme — City Plan 2014.
Brisbane City Council approved the development on 11 December 2014 which consists of 780 lots with the potential for 200 lots based on a future potential road connection to Ross Road.
“The development is a significant subdivision on undeveloped and constrained land adjoining the Brisbane Forest Park," Trad said.
“For this reason, I consider that this development could potentially affect economic and environmental state interests of this part of the state.
“I also note that council’s decision is a departure from its planning scheme, which was only adopted in 2014."
All relevant parties now have 20 business days to have their say on whether the development should be called in, with a decision to be made by 29 April 2015.
</body></html>

Queensland government contemplating "calling in" controversial Cedar Woods, Upper Kedron development

<html><body>
Last year, $51 billion worth of residential property changed hands, according to the Real Estate Institute of Queensland (REIQ).
REIQ chief executive Antonia Mercorella said Queensland's home transaction values peaked at $73 billion in 2007, but that "there's a very encouraging upward trend which is great news for home owners".
2014's result is the highest since 2010.
<img src="/images/2015/03/02/reiq-mar-2-two.jpg" alt="">
Sales volumes are also "clearly heading in the right direction," said Mercorella, with 114,000 transactions recorded last year. The highest ever year for number of transactions is 2003.
"And in another encouraging sign, there's been a significant rise in the number of suburbs where every vendor made a profit on sale," she said.
"In 2014, there were 49 Queensland suburbs where every property sold at a profit, up from just 22 suburbs in 2013."
The majority of suburbs with 100% profit-making sales were in Brisbane, with the eastern suburb of Gumdale having the greatest increase in profit making sales of any Brisbane suburb. There, transactions were up 33% over the year.
"Tara on the Western Darling Downs recorded the biggest increase in profit-making sales anywhere in the State, with an impressive rise of 36%," said Mercorella.
"Other strong performers included Goombungee, north of Toowoomba (up 27% and Caravonica, north of Cairns (up 26%).
"Meanwhile on the Gold Coast, 100% of vendors in Mermaid Beach made a profit on sale in 2014, as the city's prestige real estate market continues to bounce back."
She also noted increased momentum in the prestige $1 million-plus market.
"Around 2,600 properties across 320 suburbs changed hands for more than $1 million in 2014, predominantly in the Southeast," she said. According to the REIQ, properties worth $1 million or more made up the strongest performing segment of the market in the December quarter.
The $1 million-plus price point was Queensland's strongest performer in the December 2014 quarter, with a 17% increase in sales volumes.
</body></html>

jrichardson-uRX5hFdKfN

Queensland home sales reach five year high: REIQ

<html><body>
GUEST OBSERVATION
Dear Premier Palaszczuk,
As you meet with <a href="https://www.couriermail.com.au/business/business-looks-for-economic-diversity-infrastructure-stability/story-fnihsps3-1227220692715" target="_blank">Queensland business leaders</a> on Tuesday and get down to the business of governing, you’re sure to face many immediate preoccupations and challenges. But considering <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2015-01-23/regional-queenslanders-worried-about-downturn-of-state-economy/6035220" target="_blank">the economy was the dominant issue</a> of this election, I would like to provide three pieces of advice for your new Labor minority government.
The economy is ultimately about people
First of all, I would encourage you to remember that the ultimate objective of economic policy is to promote inclusive economic growth and welfare. I use the word inclusive here to mean that all individuals, especially those at the bottom end of income distribution, should be guaranteed access to the benefits and opportunities arising from the increasing pace of economic activity. It is only by being inclusive that growth can effectively generate “development”.
Budget, taxes, debt and expenditure are only tools that the government can use to achieve the fundamental goals of inclusive growth and welfare. Unfortunately, in the recent past both the federal and Queensland governments have mistaken tools for objectives.
This has led to a policy of “minimisation”: to minimise debt, minimise deficit, and minimise expenditure. This is hardly a good way to run fiscal policy. On the contrary, inclusive growth and welfare become more difficult to achieve when the only purpose of policy is to shrink the size and scope of government, thus compromising its ability to supply public goods and to stabilise the economy against cyclical shocks.
There are two important features that should instead characterise good fiscal policy.
One is the synchronisation of expenditure with the business cycle. Cutting expenditure just to balance the budget in a time of economic contraction will only make the contraction worse. Conversely, when the economy slows down, the government should increase expenditure and possibly run a deficit. This will help the economy recover.
That is not just theory: my own research on Australia indicates that one extra dollar of government expenditure generates <a href="https://www120.secure.griffith.edu.au/research/file/dd80d33e-ccac-46f9-ac58-d9ff7d41b5b7/1/2014-08-does-government-expenditure-multiply-output-and-employment-in-Australia.pdf" target="_blank">more than one dollar</a> of gross domestic product (GDP). I have done similar research for Queensland, which is yet to be published but which found a similar result.
Of course, the increase in expenditure and deficit in time of contraction must be offset by expenditure cuts and surpluses in time of economic expansion. This counter-cyclical pattern of government expenditure and deficit will ensure that the economy is stabilised in response to shocks, and there is no accumulation of debt in the long-term.
The second feature of good fiscal policy is attention to quality considerations in public investment. It is rather common to think that economic growth is just a matter of investment, and hence that the best (and possibly only) way in which governments can support growth is by throwing money into some infrastructure projects.
But the quality of investment and spending is as important as its quantity. Quality, for instance, means that upgrading the curriculum or promoting work-integrated learning is as important as building a new school.
Similarly, the growth payoff from building a tunnel that does not really address any transport bottlenecks or does not facilitate connectivity between market nodes is going to be small. I guess that the general message here is: public investment in infrastructure is not a panacea, and there is more that the government should/can do to promote inclusive growth.
Obsession with debt
My second bit of advice Premier is to get some perspective on the “debt problem” of Queensland.
There is no question that <a href="https://theconversation.com/the-true-state-of-queensland-debt-36345" target="_blank">Queensland debt has grown considerably</a> since 2006-07, and that today the debt to GDP ratio in Queensland is higher than in the rest of Australia, as I showed <a href="https://theconversation.com/the-true-state-of-queensland-debt-36345">in a recent article</a>.
But from a policy perspective, what matters is not much the comparison with other states, but instead the extent to which debt is sustainable. Sustainability refers to the dynamics of the debt to GDP ratio in the long-term. It is a simple matter of algebra to show that debt is sustainable as long as the economy grows sufficiently fast.
So, the issue of sustainability is essentially a question of economic growth. If in the attempt to reduce debt you were to undertake cuts or actions that undermine the growth potential of the economy, then the debt problem would simply get worse.
Now, this does not mean that Queensland should take a course of fiscal profligacy. It means, however, that there is no need at this stage to make drastic measures to repay debt. The type of counter-cyclical fiscal policy previously described, coupled with sound interventions in support of growth, will be enough to prevent further debt accumulation and hence to ensure its sustainability.
I welcome your government’s decision to re-consider the proposed plan of asset privatisations. It is the wrong response to a problem that does not require any such strong choice.
From an economic perspective, there is simply no evidence to support the notion that the private sector always does it better. Certainly, there are several examples of successful privatisations of public assets. But there are also many instances where privatisation has not resulted in a decrease in price and/or an increase in consumer’s satisfaction.
What does the economic data tells us?
And this brings me to the last bit of advice: make sure that your team takes a comprehensive look at the economic data before making any big decisions.
If good fiscal policy means that government expenditure must be synchronised to the business cycle, then the government must be able to identify and even predict the phases of the cycle. This in turn requires making the most efficient use of the large volume of statistical information that is available today. That is, good economic policy must be guided by a good understanding of the economic data.
A good look at the data is also important in terms of communication. I do not think that it helps the cause of any government to advertise a strong economy when – as is the case in Queensland today – gross domestic income per capita <a href="https://theconversation.com/the-true-state-of-queenslands-economy-without-the-spin-35959">is declining</a>, the only jobs that are being created <a href="https://theconversation.com/what-unemployment-figures-really-say-about-queensland-36305" target="_blank">are part-time</a>, and the unemployment rate <a href="https://theconversation.com/what-unemployment-figures-really-say-about-queensland-36305" target="_blank">is higher</a> than what it was three years ago (with or without seasonal adjustment).
Fabrizio Carmignani is a professor at the Griffith Business School at Griffith University.
This article was originally published on <a href="https://theconversation.com">The Conversation</a>.
</body></html>

FabrizioCarmignani-GxUevkhNYc

Queensland’s biggest economic challenge isn’t debt – it’s growth

<html><body>
GUEST OBSERVATION
Ipswich has one of the fastest growing populations in Australia over the last decade.
When a few marketing jazz words are combined with a low entry price and above-average rental yields, it’s never been difficult for the so-called property guru to attract property investors to Ipswich. But does the region really stack up?
With its vast amounts of developable, cheap land available, Ipswich plays a key role in the <a href="https://www.propertyology.com.au/keep-granny-ditch-the-flat/" target="_blank">state government’s strategy</a> to try and direct population growth away from the coast.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="176">
Population Growth
</td>
<td valign="top" width="158">
2003-2013
</td>
<td valign="top" width="201">
2008-2013
</td>
</tr>
<tr>
<td valign="top" width="176">
 
</td>
<td valign="top" width="158">
(10yrs)
</td>
<td valign="top" width="201">
(Post-GFC)
</td>
</tr>
<tr>
<td valign="top" width="176">
Australia
</td>
<td valign="top" width="158">
1.7%
</td>
<td valign="top" width="201">
1.8%
</td>
</tr>
<tr>
<td valign="top" width="176">
Queensland
</td>
<td valign="top" width="158">
2.4%
</td>
<td valign="top" width="201">
2.1%
</td>
</tr>
<tr>
<td valign="top" width="176">
Ipswich
</td>
<td valign="top" width="158">
4.2%
</td>
<td valign="top" width="201">
3.7%
</td>
</tr>
</tbody></table>
The impact of a relatively large volume of sales of new properties in a developing region creates a distortion between the data for changes in median property values and the real change in property values.
As the graphic below illustrates, dwelling supply and population growth have kept pace with each other. In spite of the regular hotspot rhetoric that Ipswich cops from time to time, its property market performance has in fact been quite underwhelming.
<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/2015/01/27/Ipswich_SupplyDemand_2006-2014.jpg" alt="">
With a traditional blue-collar demographic, successive state governments and the Ipswich City Council have had to work hard to create sufficient jobs for its growing population.
The award-winning Springfield masterplanned community has been developed over the last decade as a satellite city - Brisbane’s version of Parramatta.
<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/2015/01/27/Ipswich_GreenfieldMap.jpg" alt="">
Already with a new hospital, business park, and railway line, Springfield currently has several good projects in the pipeline. These include a $50 million expansion of the University of Southern Queensland, $70 million headquarters for GE, $80 million Mater hospital, $100 million Brookwater resort and plans to further extend the Orion shopping centre.
The existing Amberley RAAF base has also been spoken about as an anchor tenant for a potential aeronautical precinct.
Investors could do worse than Ipswich, although it is far from our first preference. With so much land flagged for development, expect to see significant new supply, mostly concentrated around Springfield, Ripley, and Redbank Plains.
There is currently in the vicinity of $275 million in house and land packages currently under construction. The Springfield Land Corporation has also just announced a proposal to develop 10,000 new apartments.
Simon Pressley is managing director of <a href="https://www.propertyology.com.au/" target="_blank">Propertyology</a>, a full-time property market analyst, accredited property investment adviser, and Australia’s (REIA) Buyer’s Agent of the Year (2012+2013+2014).
Picture courtesy of Clarebear/ <a class="mw-mmv-license cc-license" href="https://www.propertyobserver.com.au/https://creativecommons.org/licenses/by-sa/3.0" target="_blank">CC BY-SA 3.0</a>.
 
</body></html>

How the Ipswich region stacks up: Simon Pressley

<html><body>
Just when you thought affordability was becoming a word of the past, I’ve unearthed another hard to believe story on the Gold Coast, alongside further evidence of the appeal of the local market as local demographics continue to evolve.
Our Gold Coast Team have just launched a new residential project located in the heart of Robina, on the doorstep of the thriving $2.5 billion town centre.
Robina is a classic and now very successful masterplanned residential community that has gone from strength to strength over the last two decades.
Perhaps best known as the home of the Bond University, Robina is now delivering the dream of the planners, it’s a thriving desirable community. Yes, it has access to great beaches and much more.
As a potential place to buy into the Queensland real estate market it offers a range of opportunities that will appeal to both future residents and investors alike. I also think that the development mix adds to the area’s appeal.
The choices are dynamic and importantly aim to meet the needs of singles, families, retirees and students across a variety of prices. Variety is important with apartments, villas, townhouses and detached homes.
While the Robina Town Centre is the focus of the area, there’s a direct train link to Brisbane. While employment is diverse across the Bond University, Varsity Lakes IT hub and now a brand new football stadium will also create economic momentum.
Robina’s history doesn’t extend much past the late 1980s, which makes the rate and scale of development impressive as it has matured into a business, medical, commercial and residential centre.
Robina has certainly proved to be centrepiece of Gold Coast development and with a strong future.
Picture of Robina courtesy of <a href="https://commons.wikimedia.org/wiki/User:TravellerQLD" target="_blank" title="User:TravellerQLD">TravellerQLD</a>/<a class="mw-mmv-license" href="https://www.propertyobserver.com.au/https://creativecommons.org/licenses/by-sa/3.0" target="_blank" style="font-size: 12.1599998474121px; line-height: 1.3em;">CC BY-SA 3.0</a>.
 
</body></html>

pchittenden-eLqUUC8TWW

Robina has proved to be centrepiece of Gold Coast development: Peter Chittenden

<html><body>
Domain’s most recent price data had Brisbane as the number two capital city on median price growth in 2014 (behind, obviously, Sydney).
It found Brisbane’s price growth has risen to 6.1%, providing another piece of evidence that Brisbane and South East Queensland is the nation’s major rising market.
That in itself is not startling news, as many property analysts and commentators, including me, have been advocating Brisbane as a nation-leading growth centre for 2015.
On 1 December <a href="/expert-insights/buying/the-baton-is-passing-from-sydney-to-south-east-queensland">I wrote on Property Observer</a>:
“There’s a pretty good argument that the hottest property precinct in Australia right now is South East Queensland.
“Brisbane, the Gold Coast, the Sunshine Coast ... All three have hot markets. The research conducted by Hotspotting for the latest edition of the Price Predictor Index revealed 254 suburbs across South East Queensland with rising sales activity. To put that in perspective, the Sydney metropolitan area has 106 growth suburbs.”
So that’s a good starting point. But South East Queensland is a big chunk of territory. As I pointed out on 1 December: “Together they comprise a vast metropolitan area - ongoing urban growth means these three big centres have merged into one big conurbation which starts at the NSW border and extends 250 kilometres north to Noosa.”
So where to place a more focused span of attention? There are myriad options but one that I particularly fancy is the unheralded (indeed often maligned) municipality of Logan City.
The local council sees it as a strategic “city between two cities” because Logan bridges the gap between Brisbane City and Gold Coast City.
It’s a municipality of 60 mostly affordable suburbs and collectively they are a nice fit for <a href="/expert-insights/investing/my-basic-formula-for-identifying-hotspots-terry-ryder">my core formula of affordability + infrastructure + jobs = price growth</a>.
It certainly qualifies on the affordability score. It has numerous suburbs with median house prices below $300,000 and many others in the low-to-mid $300,000s. That affordability attracts a lot of people and its population is tipped to grow from 300,000 to 500,000 over the next 20 years.
An area needs to offer more than cheap housing to qualify as a hotspot and some have unkindly renamed the area Bogan City.
But Logan offers plenty in the way of infrastructure, services and amenities. Logan City is a 35 minute drive from the Brisbane CBD and the Gold coast via the Pacific Motorway - and is also well serviced by buses and trains on the Gold Coast and Beenleigh lines.
The area is especially strong on retail facilities. The Logan Hyperdome is among the largest shopping centres in Australia while furniture and homewares giant Ikea has a large outlet in Springwood. The Logan Mega Centre has 28 retail stores which mostly offer household and furniture outlets, but also camping and sporting goods.
There are plenty of schools throughout the region and there are also an unusually high number of golf courses.
Jobs nodes include Teys Australia, the second largest meat processor and exporter in Australia, based in Beenleigh. Teys, which employs 800 people, was inducted into the Queensland Business Leaders Hall of Fame in December 2014. Another landmark is the Beenleigh Rum Distillery which began operations in 1884.
Logan is also not far to the Gold Coast theme park precinct, which includes Dreamworld and Movieworld.
Investors like Logan City because, in addition to cheap prices and solid growth prospects, it has strong rental yields. Most suburbs have median house yields of 5.5% and above, with several between 6% and 6.5%. The median yield for units in Beenleigh, according to Domain, is 7.1%.
Most of the Logan City postcodes have vacancy rates below 2%, according to SQM Research.
In the past 12 months, a number of the suburbs of Logan City have recorded growth in median house prices between 8% and 12%.
Developers are increasingly targeting this area with large-scale projects, including a $600 million retirement village, a $550 million tourism village, a $200 million residential estate and the new Alma Park Zoo, which is being relocated from the north of Brisbane.
A number of the area’s icons – including the Logan Hyperdome shopping centre, the Beenleigh Rum Distillery and McNevin’s Motel Loganholme – are undertaking expansions.
TERRY RYDER is the founder of <a href="https://hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://www.twitter.com/hotspotting" target="_blank">Twitter</a>.
If you missed our free webinar with Terry Ryder, 'The Best and Worst for 2015: Top 5 Hotspots and 5 Places to Avoid', you can <a href="https://propertyobserver.us2.list-manage.com/track/click?u=24bd0766a834290948593f5aa&amp;id=2e37cb3570&amp;e=035e81ff9a" target="_blank">watch the video or download the slides here</a>.
Picture: Wikimedia Commons.
</body></html>

Queensland

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Queensland

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News