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 

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

SIERA kicks off construction at Northcliffe tower Exhale

Queensland

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Queensland’s regional areas have seen the launch of the RegionsQ Framework this morning, with Deputy Premier and Minister for State Development, Infrastructure and Planning Jeff Seeney, saying he recognises the importance of the regions.
This plan’s framework has identified nine initial projects of regional significance that will provide a boost to their areas and much needed services.
These projects are:
<ol>
<li>North West Minerals Province</li>
<li>Galilee Basin Development</li>
<li>Gulf Rivers Agricultural Zone</li>
<li>Burdekin Catchment Development</li>
<li>Charlton-Wellcamp Precinct near Toowoomba</li>
<li>Cairns Airport Aviation and Commercial Precinct</li>
<li>Charlton-Wellcamp Precinct near Toowoomba</li>
<li>Springfield Health Precinct</li>
<li>Sunshine Coast University Hospital/ Kawana Health Precinct.</li>
</ol>
“Our government recognises that Queensland’s regions are the economic powerhouse of the state, with more than $140 billion worth of output produced outside Brisbane in 2010-11,” Seeney said.
“Since we were elected in 2012, our government has restored respect for the important role that regional Queenslanders plan in driving our state’s economy.”
They have six priority action areas for the regional areas, including planning for development, infrastructure services, capitalising on economic drivers and attracting/retaining people.
“We promised to support growth in the four pillars of the economy – tourism, resources, agriculture and construction and we are delivering on that promise,” Seeney said.
“We’ve simplified complex planning regulations, boosted investment in infrastructure, and untangled the red tape that had been strangling industry, business and landholders.”
The framework is based on the Governing for Growth Economic Strategy and Action Plan and looks to achieve the goals from The Queensland Plan.
11 forums will be held around Queensland’s regional areas over the next few months to seek feedback on the priorities. 
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jduke-EHk3XBmHkn

The nine projects at the centre of Queensland’s regional framework

<html><body>
The 10 most expensive homes in the country sold this week are all located in Queensland and New South Wales.
While <a href="https://www.myrpdata.com/" target="_blank">RP Data</a>’s top 10 sales list is usually dominated by east coast cities, Melbourne usually makes an appearance. Not so this week, when three Queensland properties made the top 10 list, with the remainder coming from Sydney.
The most expensive sale of this week is $1.5 million down from last week’s top sale, when <a href="/news/madame-korner-sells-longtime-double-bay-home">Judit Korner secured $7.2 million</a> for her Double Bay home. 
<ol>
<li>
<a href="https://www.offermann.com.au/buying/6_belmore_tce_sunshine_beach/" target="_blank">6 Belmore Terrace, Sunshine Beach, Qld </a><img src="/images/2014/07/08/ex1.jpg" alt="" style="line-height: 1.3em;"> The week’s top selling home was a two storey beach-facing house designed by John Mainwaring. The architect happened to also design another top 10 trophy home – the house at 145 Ryan St, West End, was last week’s eighth highest sale, selling for $2,475,000. This <a href="/news">Sunshine Beach</a> contemporary home (pictured in the gallery above), with six bedrooms and five bathrooms, sold for $5,700,000 through Tom Offerman Real Estate. According to the agent, the vendors tasked Mainwaring to design a “robust, calm and intimate” home. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-church+point-114770779" target="_blank">2101 Pittwater Rd Church Point NSW <img src="/images/2014/07/08/ex2.jpg" alt="" style="color: #333333; line-height: 1.3em;"> </a><a href="https://www.realestate.com.au/property-house-nsw-church+point-114770779" target="_blank"> </a>Edenwood, a four bedroom, four bathroom house, sold through Re/Max for $5,075,000 this week. Set on a 3,465 square metre plot, the double storey home has panoramic views of Pittwater through mature gum trees. The home comes with a heated pool and spa, with a tennis court and pavilion. The vendors purchased the property for $2,080,000 in 2000.<a href="https://www.realestate.com.au/property-house-nsw-church+point-114770779" target="_blank"> </a>
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-vaucluse-115911775" target="_blank">2 Macquarie Road, Vaucluse, NSW </a> <img src="/images/2014/07/08/ex3.jpg" alt=""> This five bedroom, five bathroom home sold for $4,050,000 through Laing + Simmons Double Bay after 158 days on the market. The corner-positioned full brick three storey residence is set on 670 square metres of land. It opens with a double height marble foyer and continues through to several living and lounge areas, including an octagonal sitting room. It was advertised by the agents as having “good fung choi [sic]”. The listing information also says that the vendors would “now meet the market” for the sale. They made a loss on the property, paying $4,250,000 in 2010. 
</li>
<li>
<a href="https://%20%20%20http:/www.realestate.com.au/property-house-nsw-vaucluse-116319743" target="_blank">50 Hopetoun Avenue, Vaucluse, NSW</a> <img src="/images/2014/07/08/ex4.jpg" alt=""> A north facing house on a 940 square metre plot also secured $4,050,000 when sold through 1st City Hasemer &amp; Caldwell.Eyles Double Bay. The five bedroom, three bathroom house has a formal living room, separate dining and separate rumpus room with kitchenette and media room. Outside, there is a saltwater pool and courtyard. The house had last changed hands 38 years ago. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-vaucluse-115094859" target="_blank">36 Olola Avenue, Vaucluse, NSW</a> <img src="/images/2014/07/08/ex5.jpg" alt=""> Another Vaucluse home made the top 10 list, with this house selling for $3,370,000 through Raine &amp; Horne Double Bay. Situated opposite Vaucluse park, the contemporary home has four bedrooms, five bathrooms, a study and a lobby and gallery area with a cathedral ceiling. There is a self-contained one bedroom area downstairs, with an office area and bathroom. Outside, there is a heated pool. The vendors unsuccessfully attempted to sell the home at auction in December last year. They held the property for 27 years – it was purchased for $833,500. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-dover+heights-117141091" target="_blank">33 Military Road, Dover Heights, NSW</a> <img src="/images/2014/07/08/ex6.jpg" alt=""> This home secured $3,250,000 at a mortgagee in possession sale through BradfieldCleary Double Bay. With coastal views, the house has four bedrooms and three bathrooms, with open plan living areas. The property has a lap pool, wine cellar and a four-car garage, with a rooftop terrace. The master bedroom has its own private balcony. It was purchased in 2010 for $4,250,000. The former owner attempted to sell the house in March last year, but it failed to move after 194 days on the market. 
</li>
<li>
<a href="https://www.raywhite.com/qld/south-brisbane/1062220/" target="_blank">51/410 Stanley Street, South Brisbane, QLD </a><img src="/images/2014/07/08/ex7.jpg" alt=""> A four bedroom, four bathroom South Brisbane apartment sold for $3,200,000 through Ray White Clayfield – more than eight times the <a href="/news/qld/what-can-you-buy-for-brisbane-and-the-gold-coast-s-median-unit-price">Brisbane and Gold Coast median unit price</a>. The north-east facing home has 731 square metres of floor space across a single level. The master bedroom has a marble en suite, walk in robe and private sitting room with access to a covered balcony with city views. Each of the apartment’s four bedrooms has balcony access, while the apartment also comes with a private rooftop pool and spa.</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-concord-117145251" target="_blank">11 Ludgate Street Concord, NSW</a>
<img src="/images/2014/07/08/ex8.jpg" alt=""> This three storey Sydney home sold for $2,790,000 through Georges Ellis &amp; Co Strathfield. The seven bedroom, four bathroom house is set on an elevated 697 square metre block with views of the Harbour Bridge and Sydney’s skyline. The vendors purchased the property for $1,310,000 in 2010. 
</li>
<li>
<a href="https://www.raywhite.com/qld/new-farm/1149315/" target="_blank">106 Villiers Street, New Farm, QLD</a> <img src="/images/2014/07/08/ex9.jpg" alt=""> A contemporary home situated on Teneriffe Hill secured $2,605,000 when sold this week through Ray White New Farm. The entire top floor of the home is a dedicated master suite, while downstairs there are various living areas, a kitchen with marble and stainless steel benches and four more bedrooms. The lower living areas open on to a tiled outdoor entertaining area with barbecue and a lap pool. The vendors purchased the property for $1,175,000 in May 2008. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-queenscliff-117335575" target="_blank">7 Hill Street, Queenscliff, NSW</a> <img src="/images/2014/07/08/ex10.jpg" alt=""> This semi-detached home sold for $2,450,000 through Cunninghams Property Balgowlah. The bright four bedroom, three bathroom house is located 400 metres from Queenscliff beach, with schools, shops and public transport within walking distance. The entire second storey is taken up by the master bedroom and a “parent’s retreat”, with a full en suite and north facing balcony. After just over two years of ownership, the vendors sold the property for around $500,000 more than the purchase price. They bought the home in April 2012 for $1,915,000.
</li>
</ol>
</body></html>

jrichardson-uRX5hFdKfN

The 10 most expensive home sales of the week: RP Data

<html><body>
Units in Brisbane and the Gold Coast sold for a median price of $370,000 in the three months to June, according to RP Data-Rismark.
Brisbane and the Gold Coast have the cheapest median unit price on the eastern seaboard and are behind Perth, which has a median unit price of $440,000. For the month, Brisbane and Gold Coast unit values were up 1.6%.
Property Observer looks at recent sales to see just what a $370,000 unit looks like in Brisbane and the Gold Coast.
<ol>
<li>
<a href="https://www.realestate.com.au/property-apartment-qld-hope+island-116215299" target="_blank">8418 Magnolia Drive East, Hope Island</a>
<img src="/images/2014/07/07/brisbane_0004_bris%20july%207%20one.jpg.jpg" alt="">   This two bedroom unit sold for $375,000 late last month. Overlooking the <a href="/news">Hope Island</a> Golf Club and Lake Lugano, the unit is “a short buggy ride” to the nearby Marina shopping village. The apartment has two bathrooms, an open plan living area, two basement car spaces and 24 hour manned security. It was advertised as “FIRB [Foreign Investment Review Board] approved to buy for non-Australian residents”.
Price: $375,000
Bedrooms: Two
Drive to CBD (Gold Coast): 31 minutes
</li>
<li>
<a href="https://www.realestate.com.au/property-unit-qld-palm+beach-114501115" target="_blank">4/75 Jefferson Lane. Palm Beach</a>
 <img src="/images/2014/07/07/2.jpg" alt="">
A <a href="/news">Palm Beach</a> apartment, metres away from the beach, sold for $368,000. The tiled living area and each of the apartment’s two bedrooms have ocean views. The apartment also has one garage space, a separate workshop and a balcony overlooking the beach.
Price: $368,000
Bedrooms: Two
Drive to CBD (Gold Coast): 25 minutes
</li>
<li>
<a href="https://www.realestate.com.au/property-unit-qld-annerley-117083903" target="_blank">4/20 Sarah St, Annerley</a>
 <img src="/images/2014/07/07/3.jpg" alt="">
Sold in late May, this <a href="/news">Annerley</a> apartment secured $365,000. The unit has two bedrooms and one bathrooms, with views from Toohey Forest to Mount Cootha. The newly renovated top floor apartment has open plan living areas and an updated kitchen. The single car garage also includes an internal laundry and storage space.
Price: $365,000
Bedrooms: Two
Drive to CBD (Brisbane): Nine minutes
</li>
<li>
<a href="https://www.realestate.com.au/property-unit-qld-toowong-116920647" target="_blank">7/31 Bayliss Street, Toowong</a>
 <img src="/images/2014/07/07/brisbane_0001_bris%20july%207%20four.jpg.jpg" alt="">
This apartment in a brick block of 12 sold for $364,500 last month. The unit is located in <a href="/news">Toowong</a>, five kilometres west of the Brisbane CBD. Tiled throughout, the upper-floor, newly renovated apartment has two bedrooms, an air conditioned lounge and an updated bathroom. The vendors purchased the home ten years ago, for $210,000.
Price: $364,500
Bedrooms: Two
Drive to CBD (Brisbane): 10 minutes
</li>
<li>
<a href="https://www.realestate.com.au/property-apartment-qld-brisbane+city-116361711" target="_blank">128 Charlotte St, Brisbane City</a>
 <img src="/images/2014/07/07/5.jpg" alt="">
This one bedroom apartment with river views is situated right in the <a href="/news">Brisbane</a> CBD in Charlotte Towers. Located one block from the Queen Street Mall, the building has a gym, heated lap pool, outdoor plunge pool sauna and barbecue areas. The buyer can expect to pay $4,300 per year in body corporate fees and $1,900 a year in council rates and urban utilities costs.
Price: $365,000
Bedrooms: One
Located in CBD.
</li>
</ol>
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What can you buy for Brisbane and the Gold Coast’s median unit price?

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A boutique land estate, with just 25 lots, has been launched on the Gold Coast’s Tallebudgera by Gordon Corp.
The estate is called <a href="https://www.hiddenvalley.land" target="_blank">Hidden Valley</a>, located on Connection Road, and is the debut for developers Gordon Corp, linked to Tim Gordon, and will also be the first land subdivision the semi-rural area has seen for some time.
It will provide lots from 600 square metres to 821 square metres, priced from $295,000.
<img src="/images/2014/07/07/hidden-valley-july-7.jpg" alt="">
Marketing manager for Gordon Corp, Bianca Gordon, said the estate would be of interest to young families and existing residents who are downsizing from their acreage.
“There’s currently nothing available here for people who want to move off their acreage property to something more manageable in the same location,” said Gordon.
“As a result there’s pent-up demand for smaller blocks which has prompted us to bring Hidden Valley to the market.”
Professionals Black and Young Burleigh Heads agents Adam Young and Chris Wolters are the sales and marketing agents for the estate, and are expecting quick sales.
“There’s huge unmet demand from people who are keen to live in this area without the expense and maintenance of acreage property,” said Young.
“At present there is no vacant land on the market less than 1.5 acres in Tallebudgera and the majority of vacant blocks are well over two acres.”
Civil works will begin within weeks.
Tallebudgera is <a href="/news/qld/bellagio-la-villa-listed-as-tallebudgera-owners-cash-in-their-glorious-gold-coast-hinterland-chips">home to the incredible Bellagio La Villa</a>.
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Boutique Gold Coast 25-lot land estate launched as developer’s debut

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“How much should I be paying?” It’s a common question that investors are right to ask about every aspect of real estate.

For Queensland investors looking to rent out their property, it’s all about the agent’s fee. Property Observer has looked to Fair Trading Queensland to determine what fees your agent should be charging you. This is for both residential and holiday lettings, and agents fees can be a number of charges including commission on rent and a letting commission.

Letting commission, or that once-only cost you pay at the start of each tenancy agreement, is for the agents costs of advertising the property and setting up the new tenancy. 
Of the rent your tenant pays, your property manager takes their portion and provides the rest to you.

In this case, Fair Trading notes that it’s the length of the tenancy that determines the cost. We note that the figures cited by Fair Trading are the maximum allowed commissions in all instances, and not necessarily the industry norms.

[smartcode_project:default project_id=27575]

For tenancies two weeks or shorter, the maximum is 50% of one week’s rent.

For more than two weeks to three weeks it is 75% of one week’s rent.

For more than three weeks to one year it totals one week’s rent.

For one to five years, the fee is 5% of one year’s rent. And for more than five years, it’s 7.5% of the average annual rent.

For commission on rent, this depends on whether they have charged you a letting commission.

If so, then it will be 5% of the rent for the first year, and 7.5% from then on. If not, then it will be 7.5%.

[smartcode_project:default project_id=26730]

Other charges may be seen for repairs or replacements at the property if they are required to supervise. This has to be agreed to in writing.

Finally, Fair Trading notes that for holiday letting the maximum for three months or more is 9% of the total rent, and for less than three months it comes to 12%.

They also note that some agents do not charge a letting commission on holiday rentals, which makes sense considering how many holiday rentals utilise online listings sites to find clients.
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The amount Queensland agents should charge for letting a property

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The song at this stage of the residential property cycle would normally sound something like this:
"Higher prices and price growth, coupled with lower rental returns in both Sydney and Melbourne will see more people move interstate to cheaper and sunnier South East Queensland.”
Well, that doesn’t seem to be happening. The more optimistic would end this sentence, with a ‘yet’.  But I wonder. Yes, investors are crossing the Tweed and the current level investor interest from the southern states reminds me of the early 2000s, but unlike back then, net interstate migration to Queensland still remains low, close to an all-time low in fact.  See our first chart below.
Our second chart shows that Victoria – yes, that old rust bucket – attracts more interstate action than Queensland these days.
<a href="https://matusikmissive.com.au/wp-content/uploads/2014/06/NET-INTERSTATE-MIGRATION-1.jpg"><img class="alignnone size-full wp-image-7443" src="https://matusikmissive.com.au/wp-content/uploads/2014/06/NET-INTERSTATE-MIGRATION-1.jpg" alt="NET INTERSTATE MIGRATION #1"></a>
<a href="https://matusikmissive.com.au/wp-content/uploads/2014/07/NET-INTERSTATE-MIGRATION-2.jpg"><img class="alignnone size-full wp-image-7444" src="https://matusikmissive.com.au/wp-content/uploads/2014/07/NET-INTERSTATE-MIGRATION-2.jpg" alt="NET INTERSTATE MIGRATION #2"></a>
So why are fewer people moving to Queensland?
<ul>
<li>Jobs</li>
</ul>
Most people move interstate for work.  Sure, many might like Queensland’s climate better, especially during winter/spring, but their primary motivation is work. 
Queensland is creating new jobs, but these aren’t really big paying positions, nor are that many full-time. 
It is more than just post-mining influence at work here; the overall ‘casualisation of work’ trend is having an impact.
<ul>
<li>Ageing demographics</li>
</ul>
As people age, they move less and when they move, they don’t move as far as they did when they were younger.They like to stay in the same neighbourhood if they can.  
Yes, they like to be closer to the kids and especially the grandchildren, but given the low cost of air travel, plus the vitality of our older folk (my parents are almost always travelling), they don’t see themselves as ‘baby sitters’ these days.
<ul>
<li>Stamp duties</li>
</ul>
One of the biggest killers of housing movements is stamp duties.  This cost – determined as a percentage of the end price – stops many local moves and a lot of interstate movements as well.
It should be a flat fee; the same for all residential property transactions regardless of location and be say, $1,000 per sale, and not the exorbitant amount that is currently incurred.
If you want free up our larger, underutilised homes and get downsizers/retirees into something more practical for them, then stamp duties must be reduced and dramatically so. 
Otherwise, these two market segments (which are about to grow <a href="https://matusikmissive.com.au/2014/06/03/housings-future/">substantially</a> in size) will age in place; and we will struggle to house, affordably, our younger generations.
<ul>
<li>Perception</li>
</ul>
I don’t care how many times the media try to project Brisbane/South East Queensland as having lost its “red neck” and somehow acquired, magically, a sophisticated aura; most of my interstate friends and relatives don’t buy it, nor do I.  I think we need to really think through what we are and the image we want to convey.  We shouldn’t be competing with Sydney, Melbourne or Perth; we need to find our own voice.
For example, I was in Toowoomba last week giving a presentation for the Chamber of Commerce, where a short promotional video was played outlining why someone should consider living in the Darling Downs.  It wasn’t “resources” this or “infrastructure” that, it was a <a href="https://www.youtube.com/watch?v=pMQ9dPn7IA4&amp;feature=youtu.be" target="_blank">great clip</a> about a bushie and how he lived under a “big sky”.  It worked a treat – so much so that I nearly bought a Toowoomba house.
Anyway, for mine, Queensland needs to work on its image.  It seems lost if you ask me…and it is reducing the number of bums of seats.
Visit Michael's <a href="https://www.matusik.com.au/" target="_blank">website</a>, read <a href="https://www.matusikmissive.com.au/" target="_blank" rel="nofollow">his blog</a>, follow him on <a href="https://www.facebook.com/ThinkMatusik?fref=ts" target="_blank" rel="nofollow">Facebook</a> and <a href="https://www.twitter.com/michaelmatusik" target="_blank" rel="nofollow">Twitter</a>, or connect via <a href="https://www.linkedin.com/in/michaelmatusik" rel="nofollow">LinkedIn</a>.
<a href="https://matusik.com.au/products/toowoomba-market-outlook-report/" target="_blank">Go here</a> for the full Matusik Market Outlook Report on Toowoomba.
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michaelmatusik-49YzLvdmNv

Why are fewer people moving to Queensland?

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A new Sydney to Hamilton Island flight service coincides with the launch of a brand new Whitsundays luxury resort.
Tourist spending in the Whitsundays increased to $706 million last year, up 14%. Acting Minister for Tourism Tracy Davis is optimistic about the future of the region, with the new Qantas flights and the newly launched One&amp;Only Hayman Island resort.
“Qantas’ decision to commence two return weekly services between Sydney and Hamilton Island will open the skies to more than 10,000 additional visitors a year,” said Davis.
“Both Qantas and resort operator One&amp;Only clearly believe the future’s bright for tourism in Queensland and I certainly agree with them.
“The Queensland government’s 20-year plan for tourism, Destination Success, outlines the need to deliver quality experiences that delight customers – and that’s exactly what’s happening today in the Whitsundays.
“We have a strong plan for a brighter future and we’re working hard to achieve our goal of doubling annual overnight visitor expenditure to $30 billion by 2020.”
Vistors to the Whitsunday increased 7% last year, to 687,000, according to local Member Jason Costigan.
“This is the beginning of an exciting new tourism era for a place that I call Paradise with increased access into the region and the opening of the new luxury One&amp;Only resort,” Costigan said.
“My electorate warmly welcomes visitors to our magnificent backyard and the support they will give to local businesses,” he said.
Lyell Strambi, chief executive of Qantas Domestic, said the flights now allow passengers from Sydney to enjoy “direct access to one of the country’s most iconic holiday destinations.”
“Our new service also gives these customers a premium aviation product to complement Jetstar’s existing flights as part of our two-brand strategy,” said Lyell.
Hayman Island is owned by Mulpha Australia, who invested $80 million into the private island resort, and managed by Kerzner International. This is the first Asia Pacific venture for One&amp;Only, which has resorts in Mexico, Dubai, South Africa, the Bahamas, Mauritius and the Maldives.
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Qantas' new flight service to bring tourists to Hayman Island

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There was a slight shift to higher required vendor discounting and a longer time on market during June, according to the latest Australian Property Monitors report from the Domain group.
Brisbane was the most telling reversal given its days on market jumped from 84 to 104 days. The discount required of Brisbane vendors to secure a sale rose from 5.5% to 6.2%.
<img src="/images/2014/07/01/apm-july-1-one.gif" alt="">
The Gold Coast still had the highest required vendor discounting but its 6.2% rate was well below the 15% peak in 2011. 
The Gold Coast also notched up quicker selling properties, down to 106 days - a marked improvement of the 180 days required in early 2012.  
<img src="/images/2014/07/01/apm-july-1-two.gif" alt="">
Sydney vendors typically need a 5.1% discount off their asking price to achieve private treaty sales, according to the APM report. It was the lowest of the cities, but the highest level since December last year.
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jchancellor-FAypfDUnLy

Gold Coast on the mend, but slight shift to higher discounting in Brisbane: APM Domain Group

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Changes at the Queensland Building and Construction Commission will make the resolution of issues between home owners and builders faster and cheaper.
The process is a new early dispute resolution service that stops home owners and builders having to wait until the end of the contract, explained Minister for Housing and Public Works, Tim Mander.
“Contract disputes are never pretty but when you’re talking about disputes between mums and dads who are making the biggest investment of their lives, and builders whose livelihoods could be on the line, it’s only natural that emotions can run high,” Mander said.
“In the past there was no assistance for families, or for builders, until the contract had either been terminated or completed, which meant the process could drag on for months.
“This new service will significantly reduce the cost that disputes can place on consumers and contractors as well as substantially reducing the time it takes to resolve them, without legal action.
This measure comes into effect today, and comes with an internal review process allowing anyone dissatisfied with its decision to have it reviewed at the Queensland Civil and Administrative Tribunal (QCAT) without the requirement to appeal.
“Also from tomorrow, customers will be able to access information and advice from the Commission at any time of the day or night thanks to a new 24/7 call centre,” said Mander.
“The website has also been given a major overhaul with almost 70% of information now accessible within two clicks and 100 per cent of information accessible within three clicks.”
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Queensland to make home owner, builder disputes easier

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I suppose you can’t blame them for trying. But you can blame them for the lack of originality and imagination.
People developing a residential estate in Mackay, where the market’s a tad unwell, are trying to pump up business. Their sales pitch? Now is the time to buy!
The market’s bottomed, recovery is just around the corner, so don’t delay or you’ll miss out. Compelling stuff.
First, a reality check on Mackay. A double-whammy has struck in the past 12 months. Demand inspired by the coal industry has fallen away, at a time when developers – always a year or two behind the play – have brought on lots of new supply.
At the end of 2012, residential vacancies were below 2%. In the 18 months since then, they’ve been rising steadily. They’re now 7% and they’re still going up.
A year ago in central <a href="/news">Mackay</a>, the median house price was a tick under $400,000, after 10% growth in the preceding 12 months, and rents were strong, providing a median yield of 6.5%.
Fast-forward 12 months and the median price is down to $355,000. Rents have fallen also and the median yield has reduced to 5.9% (Australian Property Monitors figures). It takes six months to sell a house, on average, and 13% is the typical discount to make a sale.
Around other parts of the Mackay market, it’s a similar scenario: prices down as much as 10% in the past 12 months, including a significant reduction in the past three months.
The clear message is: one, the Mackay market is down, and two, it’s still falling. This is definitely not the time to buy.
The bottom line is, this should not be happening. Mackay is a solid citizen of regional Queensland. It has lots going for it, including an export port, a strong agricultural sector and plenty of tourism. Even with the local resources sector in decline, its market would normally remain steady.
But developers did what they always do – they piled into what appeared to be a boom market and built too much too late. In their inimitable fashion, they’ve plucked defeat from the jaws of victory.
Do these people ever do any research? Do they notice that they’re not the only people trying to exploit a boom market?
It’s as if each operates in an isolated bubble and eventually wakes up, with: "Oh my god, I didn’t notice all those other projects being built at the same time."
So here we have one group putting out a press release, trying to convince people they should dash out and buy a home, preferably in their estate, which I gather is not excelling at the moment.
They say the current oversupply means great deals for buyers. And it says the market is tipped to recover in the second quarter of 2015.
So, let’s see what they’re saying. We’ve just ended the second quarter of 2014, and “property valuation experts” tip a recovery in the second quarter of 2015, so now is the time to buy?
I would have thought that, by this line of logic, early next year would be the time to buy. Right now, the market is still falling.
You can contact Terry via <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://www.twitter.com/hotspotting" target="_blank">Twitter</a>.
Photo courtesy of eTravel Guide/<a href="https://creativecommons.org/licenses/by/2.0/" target="_blank">Creative Commons</a>.
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