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

Victoria

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A proposed move by the Victorian government to abolish a provision allowing for the early release of deposits as part of its review of the Sale of Land Act has been criticised by industry experts.
If the provision is removed, home sellers in Victoria would struggle for early access to house deposits, making it difficult for them to purchase a new home before the sale of their old one is settled.
Industry experts said the current legislation was “working well” and its repeal would only hurt buyers and sellers, said an article in news.com.au.
“Given strong price growth in recent years, many vendors will be unable to relocate without the ability to access the deposit to fund their next home,” Real Estate Institute of Victoria chief executive Gil King was quoted by News as saying.
An options paper by Consumer Affairs Victoria said the provision was contentious and and could “cause considerable stress for buyers and seller” and needed reform.
The paper suggests to either amend Section 27 of the Act to “improve and clarify the operation of these provisions” or scrap it altogether.
The paper said the provision had created a problematic expectation that sellers would be able to access deposits before settlement.
“Real estate agents support this practice. It benefits sellers who depend on the deposit money to put towards securing another property,” the paper said.
“However, most stakeholders, particularly from the legal and conveyancing sectors, expressed concern, (highlighting) the considerable administrative burden associated with this process, and the undue stress it causes for all parties.”
But the paper does mention that scrapping the provision would force sellers to make alternative financial arrangements to secure another property while waiting on the settlement of their current one.
King said the REIV strongly opposed any changes to Section 27, as the early release of deposits allowed sellers seeking a new home to avoid “the significant additional expense” of bridging finance.
The legislation also provided adequate protections for both buyers and sellers, he said, while adding that downsizers would be among the most affected, as majority of their equity was tied up in their home.
CoreLogic state director for Victoria Geoff White said buyers currently had the power to decide whether to release their deposit early or not, meaning the provision could also help them.
“If a buyer is happy, there’s no issue. (Agreeing to release a deposit early) can even make their offer look better,” the fifth-generation agent said.
“It would be stupidity to repeal this.”
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j.ballantyne1990-6AQqhLzZaK

Industry experts critical of repeal of early access to deposit in Victoria proposal

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<img src="https://counter.theconversation.edu.au/content/78473/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Australians are some of the biggest producers of waste in the world. Our wasteful ways and “throw away” culture are firmly entrenched. We have a hard time curbing our habits.
To understand why, we might turn our attention to the great social and economic transformation that occurred after the discovery of gold (by Europeans) in Victoria in 1851. Archaeological excavations across Melbourne have uncovered masses of rubbish dating back to the Gold Rush era of the 1850s and 1860s.
Artefacts recovered from sites within Melbourne show that the city’s Gold Rush era occupants were incredibly wasteful. You might think that 150 years ago, Victorians would have been thrifty and mended their belongings or sold them on secondhand. But the evidence suggests otherwise.
Working-class people living in Melbourne’s CBD were throwing out so much stuff that the weekly rubbish collections couldn’t manage all their trash. Residents were stockpiling rubbish under floorboards, in hidden corners of the backyard or digging holes specifically for it.
Cesspits (old-fashioned long drop toilets) were closed across the city in the early 1870s, leaving large empty holes in the ground. Residents took the opportunity to fill them with their surplus rubbish. Many of these rubbish dumps remain under current city buildings and have been found and recorded in cultural heritage management excavations.
 
Excavation of a cesspit in Little Lonsdale Street. Green Heritage Compliance and Research
There were also larger rubbish dumps. At Viewbank homestead, on the outskirts of Melbourne, the tip was so big that archaeologists ran out of time to excavate it. Excavations at the Carlton Gardens have also uncovered a substantial amount of household rubbish dumped in the area by opportunistic city residents and night cart men.
Analysing the contents of all these rubbish dumps, it’s clear that people were discarding dinner sets and replacing them with more fashionable designs, buying and chucking out junk jewellery, and throwing out glass bottles in vast numbers in spite of industrial-scale local recycling operations. Sound familiar? They were even using “disposable” clay pipes, a Gold Rush era equivalent of our disposable coffee cups.
<a href="https://www.propertyobserver.com.au/images/2017/06/29/Screen%20Shot%202017-06-29%20at%2012.57.20%20PM.png" target="_blank">Click to enlarge </a>
<img src="https://www.urban.com.au/images/2017/06/29/Screen%20Shot%202017-06-29%20at%2012.57.20%20PM.png" alt="">
S.Hayes. Artefact is part of Heritage Victoria's collection.
This plate was part of a large set discarded in the tip at Viewbank Homestead, likely because it was no longer in fashion. S.Hayes. Artefact is part of Heritage Victoria's collection.
Another surprising find was a rubbish pit dug in the backyard of a draper shop and filled with piles of seemingly perfectly good clothes and shoes. Perhaps they had gone out of fashion? Excess, it seems, is in Melbourne’s bones.
You are what you own
The discovery of gold brought a massive increase in population, new wealth, unprecedented access to a global network of consumer goods and great opportunities for social mobility. No one could be sure of your social background in the chaos of this rapid change. The old working, middle and upper class hierarchy became less relevant and it was possible to move up the social ladder.
How, then, did people communicate their status? Through stuff. Cultural capital refers to how people play the “culture game”: their accent, their clothes, their possessions, their manners, their interests. The argument goes that status is determined by the expression of cultural values and particular behaviours rather than wealth alone.
Everyday choices of consumer goods became powerful in carving out a new position and a better life in the new city. Your home, your furniture, your tableware, your drinking glasses, your clothes, all became vital markers of your place in society. You were no longer constrained by your situation of birth.
Melbourne society was reinvented and a new, much larger and more diverse middle class emerged. One that had a new system for determining status based largely on what they bought.
Why do we buy and why can’t we stop?
As a globalised world grapples with the problem of fast fashion, fast consumerism and a throw away culture, with massive landfills and climate change, the question of why we consume is more important than ever.
You might want to consume and waste less. But old habits die hard and it’s important to understand why we consume before we are able to make significant changes to our wasteful habits.
Social mobility might not have the currency that it did in the gold rush era, but we are still purchasing to communicate something. What we buy announces our position in the world and our values. Our possessions place us within one group and distance us from another just as they did in the Gold Rush era.
As the slow movement, anti-consumerism and concerns over sustainability gather pace, a new brand of cultural capital may emerge. A cheap polyester jumper and a disposable coffee cup may become a sign of inappropriate excess. A minimal wardrobe of ethically produced clothes and a reusable coffee cup could become the ultimate marker of status.
Sarah Hayes is Research Fellow in Archaeology and History, La Trobe University and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/sarah-hayes-380520" target="_blank">here</a>.
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jchancellor-FAypfDUnLy

Gold Rush Victoria was as wasteful as we are today

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The Victorian land titles office might go the same way as its counterpart in New South Wales.
Following Premier Daniel Andrews announcement of a $2 billion-odd price target on the state's land titles office, government officials are in the market for scoping study advisers, according to Street Talk in The Australian Financial Review.
The state’s Department of Treasury and Finance has written to major law firms seeking sale ideas, credentials, experience on similar deals, potential costs and the like, according to Street Talk. 
The development might see big firms being pitted against each other. Herbert Smith Freehills will be up against the likes of Allens - which recently advised Hastings Funds Management and First State Super on their acquisition of NSW's land titles registry - Minter Ellison, Baker McKenzie, King &amp; Wood Mallesons, Ashurst and Clayton Utz. 
Infrastructure fund manager Hastings Funds Management and pension fund First State Super signed a $2.6 billion deal to operate NSW's land titles and registry business earlier this year.
Victoria is expected to appoint a legal adviser before looking for investment banks and accounting firms to explore options.
It's likely to need all three for the scoping study and a sale, should the scoping study make findings as expected, Street Talk said.
South Australia is also privatising its land titles office, seeking bids next month. 
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jonathanchancellor-7SQnKwU6yx

Victoria taps law firms for possible land titles office sale

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Proposed reforms to changes in stamp duty, first home-owners grants, shared equity and clamping down on underquoting by the Victorian government will be compared to the current rules and regulations in the New South Wales jurisdiction according to TressCox lawyers.
In a research note, TressCox said with the Victorian election just over a year away and housing affordability becoming a nation-wide issue of interest, it is of no surprise that the Victorian government is looking to implement major reforms to improve access to the housing market for first home-buyers.
"The proposed changes in Victoria will now be compared to the current rules and regulations in the New South Wales jurisdiction," it said.
"The Victorian government has proposed to completely abolish stamp duty for new and existing properties that are up to $600,000.
"Properties that are between $600,000 and $750,000 will have their stamp duty discounted.
"The current regulations also allow for concessions for pensioners for properties valued at up to $750,000 and for those individuals using the property as the Principal place of Residence for properties valued at up to $550,000.
"The Victorian proposal is subtly, yet critically different to stamp duty exemptions in New South Wales.
"The NSW exemption under the First Home – New Home Scheme only applies to homes which are of a value of up to $550,000.
"Similar to the Victorian proposal, the NSW rules do provide concessions in stamp duty for homes valued between $550,000 and $650,000.
"An exemption also exists for the purchase of a vacant block of land valued at up to $300,000 where the purchaser wishes to build their home.
"Concessions are available for vacant land valued between $300,000 and $450,000.
"It is important to note that unlike the proposed Victorian reforms, the stamp duty exemption and concession for first home buyers in New South Wales only apply to brand new homes and not existing properties.
"Currently, the Victorian rules provide a $10,000 grant for first home owners on new homes valued at up to $750,000.
"The Victorian proposals seek to incentivise purchases of property in regional areas by doubling the First Home Owner Grant to $20,000 from 1 July 2017.
"Prior to 2012 In NSW, the First Home Owner Grant provided a $7,000 grant for eligible transactions. However, for all contracts entered into after 1 October 2012, the grant applies only to new homes which do not exceed a value of $750,000.
"The transaction date of the sale of land is particularly important in NSW as it defines the grant amount a purchaser may be eligible for.
"For instance, transactions for new homes under the NSW scheme dated between 1 October 2012 to 31 December 2015 could be offered a grant of $15,000.
"Transactions from 1 January 2016 may be eligible for a grant of $10,000.
"Changes to Victorian laws provide that the concession will now only be applicable to home buyers who intend for the property to be their principal place of residence and will no longer be available for residential investment or commercial properties.
"NSW provides a $5,000 grant for purchasers of new homes which are either new homes or off the plan which are valued at up to $450,000.
"In a bid to combat vacant properties held by investors, the VRPT will be applied to properties which remain unoccupied for over six months in a calendar year.
"The tax will include some exemptions for properties used as holiday homes, for work purposes, deceased estates and for Victorian owners who are temporarily overseas.
"The tax is slated for implementation on 1 January 2018 and the current rate proposed will be 1 percent of the capital improved value of the property.
"At this stage, the new tax in Victoria does not have an equal counterpart in NSW."
For more information visit <a href="https://www.tresscox.com.au/" target="_blank">www.tresscox.com.au</a>.
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First home buyers, stamp duty exemptions and grants: Victoria versus NSW

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A luxurious country estate sitting on 40 hectares in Mia Mia, Victoria has been listed for sale with a price guide of $1.3 million. 
The interior-designed four bedroom main residence at <a href="https://www.realestate.com.au/property-other-vic-mia+mia-7879978" target="_blank">359 Wild Duck Road</a> and two bedroom guest house have been built to capture the stunning outlook across to Wild Duck Creek.
Mia Mia is a picturesque area located 119 kilometres north of Melbourne and 56 kilometres south of Bendigo. It is largely an area of broadacre farms raising cattle and sheep.
The residence features a glass enclosed hallway, family room, and office with a marble topped chef’s kitchen facing an open plan dining and living room to the Jetmaster fireplace.  Touches of double oak-doors, travertine marble and black butt floors have been included throughout.
A main bathroom is finished in floor to ceiling tiles, under floor heating, double shower, vanity and a bath. The master bedroom offers a walk in robe, Belgian linen curtains, frameless windows leading onto the wooden deck.
The two bedroom guest house showcases lime washed oak floors, marble bathroom with feature shower and underfloor heating, as well as floor to ceiling frameless windows and custom made doors.
Established native gardens are set against the backdrop of the rolling hills and creek frontage.
A three bedroom residence at <a href="https://www.realestate.com.au/sold/property-house-vic-mia+mia-118528219" target="_blank">61 Valley Road</a> sold for $325,000 in December 2016.
The property is offered through Pat Rice and Hawkins agent Bart O'Sullivan. 
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Mia Mia country estate listed 

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Rural sales activity is increasing in south-west Victoria, according to Herron Todd White’s latest report.
The activity is primarily small to medium size farms purchased by local farmers wishing to expand.
The property valuation firm says there is strong interest in grazing holdings suitable for sheep or beef cattle of between 100 and 175 hectares, as well as larger holdings up to 800 hectares.
“Agents report the enquiry for outpaddocks around Warrnambool is very strong, listings are down and agents’ real estate advertisements are now regularly including a list of wanted property for prospective purchasers,” the report advised.
“We are aware of a large dairy farm in the Mount Gambier district having just been purchased by a private New Zealand syndicate.
“An expression of interest marketing closing on 21 April 2017 for a well developed dairy farm of 160 hectares between Cobden and Simpson will provide a pointer to the current dairy farm market.” 
A rural cropping land at <a href="https://www.realestate.com.au/property-cropping-vic-illowa-7869850" target="_blank">35 Settlers Lane</a>, Illowa (above) has been listed for $325,000.
Similarly a 20 hectare rural land at <a href="https://www.realestate.com.au/property-other-vic-warrnambool-7613547" target="_blank">135 Boiling Down Road</a>, Warrnambool (below) has been listed for sale.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/04/26/135%20Boiling%20Down%20Road.jpg" alt="">
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South-west Victorian farm sales increasing: HTW

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Victoria will bring into force underquoting laws from May 1 as a measure to bring more transparency into property transactions and crack down on dodgy real estate agents.
The changes to the Estate Agents Act 1980 will require estate agents or agents' representatives selling residential property to set an estimated selling price that is reasonable and takes into account the prices of the three most comparable property sales in the area.
The agents must “consider the standard, condition and location of the property and the date of sale, when selecting the most comparable property sales” says a note on the Consumer Affairs Victoria website.
They are also required to inform the seller and update the sales authority if the estimated selling price changes.
Potential buyers will receive a statement of information that has an indicative selling price, which must not be less than the estimated selling price or the seller's asking price, or an amount already rejected by the seller, which is essentially underquoting.
The statement must also have details of the three most comparable property sales and the median house or unit price for the suburb.
Agents have also been directed to advertise properties with a single price or a price range that does not exceed 10 per cent.
In addition, they cannot also use qualifying words or symbols, such as 'from', 'offers above', or '+', when advertising a price or price range.
Advertising needs to be updated as soon as the seller rejects a higher written offer to buy the property, says CAV.
The penalties for underquoting can be more than $31,000 (200 penalty units) and loss of sales commission.
The new laws will only apply to properties for which the seller signs a sales authority on or after May 1.
The changes come amid recent action against erring real estate agents by the regulator through its Taskforce Vesta operation.
Hocking Stuart’s Richmond office was fined $330,000 and ordered to pay up to $90,000 in costs in October for underquoting on 11 properties.
Similarly, CAV also lodged claims against Hockingstuart, Doncaster agency for alleged underquoting. Victoria’s consumer watchdog alleges the Hockingstuart agency underquoted on nine properties in legal action launched against the office late last year.
Legal action was launched against Fletcher &amp; Parker, Balwyn, in December for alleged underquoting on 25 properties — the largest amount under the current crackdown.
Manningham Property Group, trading as Hocking Stuart, Doncaster, and its directors Kenneth John Chappell and Anastasios John Adgemis, have also fronted court over nine homes.
Former REIV chief executive officer Geoff White had said earlier that the changes would create a more transparent market, providing clear information to all stakeholders.
“A key objective of the new laws has been to ensure that they are effective in a rising or a falling market, and we believe they have delivered on this objective," he said. 
Real Estate Institute of Victoria president Joseph Walton was cited by www.realestate.com.au as saying that the body had worked with the Victoria government to develop the legislation.
“The REIV and Consumer Affairs Victoria have commenced delivery of detailed information to agents to streamline the introduction for agents across Victoria,” he said.
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Victoria underquoting laws start May 1

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The future existence of Fitzroy’s Spanish Club on Johnston Street has been thrown into jeopardy, after a recent VCAT decision denied a planning permit for the redevelopment of the existing building.
Papers have already been lodged to Supreme Court to appeal VCAT’s decision.
The site’s developer Tim Gurner had agreed to absorb the Club’s substantial debt and transfer ownership of that debt into his company’s name to ensure that the banks could not pursue the Club for costs whilst the redevelopment was ongoing.
Proposed plans by his GURNER firm would have seen the 787 sqm site transformed into a new Spanish bar and restaurant, with clubhouse facilities at ground level and apartments occupying the 5 – 6 levels above.
After successfully mediating with all objectors except for one, the permit was denied on a technicality due to an adjoining property owner’s automotive paint shop, and this landowner’s refusal to negotiate a new location for an exhaust flue on the shared boundary.
The elected president of The Spanish Club, Margarita Ros, explained that unless the decision is overturned the business will have to sell up and close, as without the support of redevelopment its business model cannot remain viable in its current form.
“Tim Gurner had taken on personal liability for the Club’s existing debt and has been paying our interest for over a year to ensure that we could continue trading and operating in the community until the redevelopment had been completed, however now I don’t see how we can repay the debt and continue to function as a community,” Ros said.
“The Club has played a vital role in helping to integrate and promote multiculturalism in Victoria. Over the years, it has also assisted the broader community through fundraisers for various disaster recover appeals. To think that this might be our last year working with the community is too upsetting to contemplate. It’s just devastating.”
The location of the flue fails to meet Environmental Protection Authority guidelines and is also a non-conforming use within the current mixed use zoning, leading the VCAT Member to rule that the flue was in an unacceptable position for the proposed development. 
Commenting on the matter, Tim Gurner said that it was disappointing to see the permit denied on such a small technicality.
“To have a scheme overturned due to a neighbouring land use that is not even allowed in this zone, and from an exhaust flue that is not compliant with EPA guidelines is incredibly disappointing and shortsighted,” he said.
“The Spanish Club has been celebrating the unique culture of Spanish immigrants for the better part of 50 years; it is run by a voluntary committee and all income that is generated is reinvested into the Club.”
Immigrant social clubs all over Australia have been ordered to either adapt or close their doors for good in recent years. The Sydney Spanish Club was forced to shut in 2013, while Melbourne’s Celtic Club has been on the market for many years after failing repeatedly to forge agreements to redevelop the ailing pub.
“We will be challenging the decision at the Supreme Court to attempt to keep the Spanish Club alive and thriving into the future,” Gurner added.
“What doesn’t make sense is that the VCAT Member even stated he was in support of the project in terms of its overall design outcome and height. Why then fail to provide a permit on a technicality, why not instead issue a permit pending the ability to resolve the issue.”
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Spanish Club in jeopardy after VCAT decision

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Rooming house operators in Victoria will have to comply with a brand new licensing scheme, which will determine whether each applicant is deemed to be a “fit and proper person”, as defined in the Rooming House Operators Act 2016.
Current registered operators have until 24 August 2017 to apply to the Business Licensing Authority for a licence in order to continue to legally operate.
Only housing associations and housing providers registered under the Housing Act 1983 will be exempt from this requirement.
After submitting a licence application, operators can continue to run their rooming house until the BLA makes its decision about their application. Those who are uncertain about their eligibility for a licence have been advised to seek independent legal advice.
The licensing requirement is in addition to existing legal obligations, including to register a rooming house with the local council and to comply with minimum standards for rooming houses.
Meanwhile, individual rooming house managers will not need to be licensed, but will be assessed as part of the operator’s licence application. Managers will need to meet the same ‘fit and proper person’ requirements as operators.
Operators and managers will also be considered ‘relevant persons’ under the Rooming House Operators Act, in addition to any officers of the body corporate, or real estate agency directly engaged to manage their rooming house.
There is a fee for each ‘relevant person’ nominated in a licence application. Because of this, operators have been advised to ensure their estate agent limits the number of people who take part in management of their rooming house. All relevant persons will be required to provide certified copies of identity documents and a signed consent form, authorising Consumer Affairs Victoria to conduct the required checks to enable the BLA to assess whether the applicant is a ‘fit and proper’ person to hold a licence.
More information about licence eligibility and the disqualification criteria is available on the Rooming house operators section of the <a href="https://www.consumer.vic.gov.au/roominghouseoperators" target="_blank">Consumer Affairs Victoria website</a>.
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Victorian rooming house operators licensing scheme commences  

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Portfolio sales of Victorian industrial property have dominated a record year for the year to March, seeing a near $600 million increase on the long term average, according to Savills research.
The industrial property sales, which totalled more than $2.145 billion, was heavily up on the long term average with the $970 million worth of national portfolio sales.
Savills Associate Director Research, Monica Mondkar cited the likes of Altis, Blackstone, Charter Hall, Duestche Australia, Mapletree and Propertylink were some of the major sales.
44 percent of reported stock sold went to funds, while owner-occupiers record the most transactions with 28 purchases.
Owner-occupiers were also the most active vendors with 35 per cent of stock reported sold.
The North West region had the most transactions by value with around $845 million in sales or 18 per cent more than the five year average of $715 million.
In the South East sales of $657 million were also up with a 21 per cent rise on the five year average of $517 million.
Two of the biggest transactions came from Charter Hall, who spent $215 million on the Woolworths’ Distribution Centre at Portlink Industrial Estate and a further $102.5 million of Coles Distribution Centre in Truganina.
Lynton Williams, Victorian Industrial Director, said he expected the industrial investment market to continue to provide strong results over the next 12 months and that sustained competition would continue to put downward pressure on yields.
"The industrial investment market is very much a story about yield.
"Why would you not consider a prime industrial asset which is going to deliver you a six to seven per cent plus yield?"
 
 
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