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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<h2 class="caption">GUEST OBSERVER</h2>
Too many people are getting overwhelmed with property prices in Australia, specifically in Melbourne and Sydney.
Scott Morrison’s recent speech identifies certain tax breaks and incentives for first home buyers and downsizers. As well as now looking to implement the 'bond aggregator' model in which new dwellings could be developed that would be targeted at people working in lower paid jobs or those who otherwise can’t generate an adequate income (such as self-funded retirees). Everything is becoming so very technical and as the government tries to shut the door on one end another will always open and loopholes will always emerge.
Something that I truly believe in regards to property supply is so simple yet continually over looked.
Victoria's population growth is approximately 100,000 people per annum a little more if you look at the Australian Demographic statistics quoting 127,000 for (Sep 15-16). If we look back we can see between June 14 to June 15 the population growth was 99,400.
Now let’s compare this to planning permits and number of dwelling approvals. Where Victoria's total approved dwellings through planning was 72,700 (June 14-15) consisting of 8,175 dwelling permits. An obvious shortfall, quite a large shortfall!
Now factor in a few other outliers that the general community does not know. Average time for development to commence and complete (dependent upon size) would be 12-18 months from planning permit issue. On an average, approximately 30% of these planning permits don’t go ahead and become obsolete.
If we look at these statistics again using year 2014- 2015 as an example.
<ul>
<li>Population 99,400</li>
<li>Dwellings approved 72,700 let’s be generous and say 80% get developed - 58,160 dwellings</li>
<li>The time those dwellings will be ready best case December 2015 - taking into consideration all permits were issued June 2014</li>
<li>Now let’s add another 49,700 as average population growth from July-Dec 2015.</li>
</ul>
In a nutshell, in 18 months from June 2014 to December 2015 we have 58,160 homes ready for use and 149,100 people moving here. Yes, now there maybe 2-3 people moving into each dwelling, however we cannot stipulate nor accept that this will be the case on every single dwelling when comparing number to the additional population growth.
My point is very simple - supply and demand is the obvious answer. However, for housing prices to become ‘a little easier on the eye’ and supply to catch up to demand, it is the efficiency of local municipalities and creating platforms and/or generic regulations where developers, owners/builders etc., will be able to use and get building faster before the influx of people becomes too great and the governments find themselves in a position where they need to make radical changes to the property market that in turn could be worse for all.
 
David Tricarico is a Co-founder of <a href="https://adepto.net.au/" target="_blank">Adepto Co.</a>
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jonathanchancellor-7SQnKwU6yx

Free up the traffic jams to get property built: David Tricarico

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Victorian real estate identity, Geoff White, has joined CoreLogic for a senior role as state manager for Victoria and Tasmania.
White joins the business from his previous position as head of the Real Estate Institute of Victoria (REIV).
The role will see White assist thousands of SME companies in the respective states grow and improve their processes using the numerous products and services CoreLogic offers them, along with the data technology and analytics the firm is known for.
CoreLogic national head of real estate industry sales, Peter Bromley, commented that White is an extremely skilled professional, who over many years has added enormous value to the real estate industry in Victoria in his capacity as a highly regarded industry leader.
“Geoff’s well-honed real estate skills, coupled with his extensive contact base and knowledge for all things real estate, will only embellish the growth strategies we’ve created for a bigger &amp; better CoreLogic in Victoria,” he said.
“Our business welcomes Geoff to our dynamic team of industry experts who daily deliver factional data insights for the future growth and development of the Victoria real estate industry.”
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j.ballantyne1990-6AQqhLzZaK

CoreLogic appoints Geoff White as State Manager Victoria

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There were 29,833 residential houses and agricultural properties sold throughout regional Victoria over the year to November 2016, according to Landmark Harcourts’ latest Benchmark Report (<a href="https://content.landmarkharcourts.com.au/Content/Benchmark-Property-Data-Report" target="_blank">bit.ly/LHBenchmark</a>).
This is down 11.3 percent when compared to the same period last year, meaning there were 3,373 fewer sales over the year.
The total value of the 29,833 transactions was recorded at $11.3 billion, down 8.8 percent from $12.3 billion from November 2015.
<a href="https://www.propertyobserver.com.au/images/2017/03/24/Screen%20Shot%202017-03-24%20at%201.35.08%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/24/Screen%20Shot%202017-03-24%20at%201.35.08%20pm.jpg" alt="">
The total number of residential house transactions across regional Victoria accounted for 73.5 percent of all transactions and 67.3 percent of the total value of sales over the year.
Regional Victoria recorded 7,898 agricultural property sales over the past year amounting to $3.7 billion worth of transactions.
This represents a 19.8 percent fall in sales volumes and a 17.5 percent fall in the total value of transactions.
<a href="https://www.propertyobserver.com.au/images/2017/03/24/Screen%20Shot%202017-03-24%20at%201.35.22%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/24/Screen%20Shot%202017-03-24%20at%201.35.22%20pm.jpg" alt="">
Looking at the land size of the 7,898 agricultural sales, 78.8 percent were on lots less than 40 hectares, 12.2 percent were on lots between 40 and 100 hectares.
Some 8.8 percent were on 100-1,000 hectares and 0.2 percent of the sales were for lots greater than 1,000 hectares.
<a href="https://www.propertyobserver.com.au/images/2017/03/24/Screen%20Shot%202017-03-24%20at%201.35.35%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/24/Screen%20Shot%202017-03-24%20at%201.35.35%20pm.jpg" alt="">
Of the $3.7 billion in agricultural sales over the year to November 2016, the total value of transactions was spread across various lot sizes with lots on less than 40 hectares accounting for 64.1 percent.
Meanwhile 15.0 percent were on lots ranging from 40 to 100 hectares, 18.5 percent on lots ranging between 100 to 1,000 hectares and 2.4 percent on lots greater than 1,000 hectares.
<a href="https://www.propertyobserver.com.au/images/2017/03/24/Screen%20Shot%202017-03-24%20at%201.35.48%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/24/Screen%20Shot%202017-03-24%20at%201.35.48%20pm.jpg" alt="">
A mixed farming property at <a href="https://www.realestate.com.au/sold/property-mixed+farming-vic-kyabram+south-7790182" target="_blank">695 Andrews Road</a>, Kyabram South (above) has been sold recently on March for $400,000.
Similarly a rural property at <a href="https://www.realestate.com.au/sold/property-lifestyle-vic-springmount-7878994" target="_blank">75 Davey Road</a>, Springmount (below) was sold recently on March for $575,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/04/03/75%20Davey%20Road.jpg" alt="">
A rural farm at <a href="https://www.realestate.com.au/property-farmlet-vic-benloch-7887282" target="_blank">923 Burke and Wills Track</a>, Benloch (below) has been listed for $679,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/04/03/923%20Burke%20and%20Wills%20Track.jpg" alt="">
Similarly a rural farm at <a href="https://www.realestate.com.au/property-farmlet-vic-nar+nar+goon+north-7879694" target="_blank">90 Olsen Road</a>, Nar Nar Goon North (below) has been listed for $595,000 plus.
<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/2017/04/03/90%20Olsen%20Road.jpg" alt="">
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Victorian rural farm sales activity in decline

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An estate agency in Melbourne’s outer east has agreed to contribute $60,000 to the Victorian Consumer Law Fund, as part of a signed undertaking where it acknowledged it made false and misleading representations about properties for sale.
We investigated Next Gen Real Estate Pty Ltd (ACN: 158 289 322) – trading as Harcourts Wantirna - and its sole director, Achilles Mantsos, 47, after receiving 17 complaints about the company’s conduct between April and July of 2015.
The company acknowledged contraventions relating to four properties under the Australian Consumer Law (Victoria) and 20 properties under the Estate Agents Act 1980 (EAA).
The company routinely set price search parameters when uploading properties for sale on realestate.com.au, which were substantially less than the estimated selling range (ESR) or estimated selling price (ESP) on those properties’ sale authorities.
As a result, potential buyers searching for properties would enter their nominated price range, and find listings from Harcourts Wantirna for homes whose ESR or ESP was much higher.
In one example, a Wantirna property was advertised for $750,000, when the ESR was listed on the sale authority as $900,000 to $990,000.
Another was advertised at “$580,000 plus”, when the ESR was $690,000 to $750,000.
On other occasions, the company provided an ESR where the difference between the upper and lower range limits was more than 10 per cent of the range’s lower limit, in contravention of the EAA.
In one example, the ESR on a Scoresby property was listed in the sale authority as $490,000 to $549,000, which exceeded the 10 per cent limit.
As part of the undertaking, the company agreed to:
<ul>
<li>contribute $60,000 (in six instalments) to the Victorian Consumer Law Fund, within 30 days of commencing the undertaking</li>
<li>implement a compliance program within three months of the start of the undertaking, at its own cost</li>
<li>display a public notice stating its contraventions at existing or new premises from which the company operates. This public notice must be displayed within 14 days of the start of the undertaking and remain displayed for three months. The notice must also be displayed on the company’s website.</li>
</ul>
The properties in question were located in Wantirna, Wantirna South, Boronia, Bayswater, Scoresby, Knoxfield and Forest Hill.
This enforceable undertaking will be in effect for three years.
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Harcourts Wantirna contravene underquoting laws

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Following the Victorian government’s announcement of stamp duty cuts for first-home buyers, developers and builders are covering stamp duty for their FHB customers to avoid a lull in the market ahead of the tax cut later this year. 
First home buyers can save stamp duty – up to $15,000 – on a string of Victorian apartment projects and house and land packages, well ahead of the government-announced measures that take effect from July 1, according to a report by Fairfax Media.
The Andrews government had announced recently that stamp duty would be waived for first-home buyers for properties up to $600,000 in the new financial year, while shutting out investors in its move to battle the affordability crisis.
The new move has had mixed reactions from the industry as the tax cuts could skew the advantage towards projects targeted for first home buyers rather than investors.
In reaction, many investor-driven developers are moving their project release dates forward in order to to capture investor dollars before the tax cut is removed, Fairfax Media reported. 
For those developers and builders who have a large portion of their projects tied to the first-home buyer segment, the July 1 date presented a potential lull in the market.
Some newly-released developments saw an immediate drop in enquiries from first timers.
Porter Davis, which will pay the stamp duty for Victorian first home buyers who use the builder for land contracts, brought forward marketing plans to target first-home buyers by several months so it could ride the wave of interest generated by the announcements.
Paul Wolff,sales and marketing director said he was fearful that people were going to delay their decision.
“We bought a campaign forward on the back of the hype and leveraging from the government’s media on [the idea of], ‘how does first home ownership happen sooner rather than later?”
"Given how quickly land prices were rising, those who waited until July 1 may have lost more than they saved on the tax cut."
He also said he would retrospectively apply the saving to any first-home buyers who purchased land after October 31 last year and would match the figure if a buyer also received the stamp duty cut from their developer.
Developers of Richmond’s Supply &amp; Co. are offering stamp duty savings even more broadly. All owner-occupier buyers can get the savings, as well as 5 percent deposits, on the David Street project.
Beller Real Estate’s Heath Thompson, the agent selling Supply &amp; Co. development, said the offer was a way to make the apartments attainable for first home buyers, who may be beaten investors keen to jump on the tax dodge before it ends.
“Investors have an increased appetite to purchase prior to 30th June,” Thompson said. “But first-home buyers may actually miss out because they think ‘we’ll wait’.”
He said the changes to the tax will undoubtedly put more roadblocks in the way for investors, who were already facing stricter lending conditions.
Developer OpenCorp, the team behind The Eastside Village in Hawthorn East, will also cover stamp duty for all buyers for the next few months and developer Growland will also waive the tax on their Victoria Square (previously Joseph Place) project in Footscray.
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Developers cover stamp duty for first home buyers ahead of Victoria tax cuts

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The Property Industry Foundation's annual Charity Sailing Day, will be held at Royal Brighton Yacht Club late March to raise money for youth charities including the Lighthouse Foundation and Whitelion/Open Family Australia.
The event, sponsored by Brookfield is on from 10am to 7.30pm Friday 24 March.
John Bertrand, AO and America’s Cup winning skipper is event patron. He said the PIF is partnering with its charity beneficiaries and the property industry to build homes to reduce youth homelessness.
“The biggest challenge to breaking a vicious cycle and climb your own Everest is not having a community of support," he said.
He will meet with some of the young people to give them encouragement and guidance on their journey to making a positive change in their life.
The Property Industry Foundation is currently looking for volunteers for the event.
To participate, <a href="https://www.pif.com.au" target="_blank">click here</a>
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PIF sailing to raise funds for homeless youth 

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Two companies operating rooming houses and their sole director, Ben Alexander Strachan, 42, of West Melbourne, have been ordered to stop operating rooming houses for five years, unless they implement a strict legal compliance program after admitting to contravening Victorian renting laws and the Australian Consumer Law (Victoria)(ACL Vic).  
In 2014 and 2015, Strachan Research Pty Ltd (ACN: 082 279 650) and House Share Management Pty Ltd (ACN: 164 365 593) contravened the Residential Tenancies Act 1997 (RTA) by charging more for bond than is allowed.
The maximum bond that can be accepted by a rooming house operator can be no more than 14 days’ rent. 
On one occasion, Strachan Research charged a resident $1035 bond, when the weekly rent was $345. On another, a resident was charged $900 bond when their weekly rent was $300. 
Strachan Research also failed to: 
<ul>
<li>provide two residents with condition reports. An operator must do this if they accept a bond from a resident </li>
<li>lodge three residents’ bonds with the Residential Tenancies Bond Authority </li>
<li>give two residents 24 hours’ notice to inspect their rooms.</li>
</ul>
Both companies also admitted to contravening the ACL Vic by making representations to residents through terms of their residency agreements that were inconsistent with the RTA, specifically relating to: 
<ul>
<li>access to rooms </li>
<li>a resident’s ability to give notice of their intention to vacate </li>
<li>Rent payable if a resident ends their agreement without notice. </li>
</ul>
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Victoria rooming houses caught demanding higher bonds than permitted

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The property market in Victoria faces upside risks, amid the recent announcement by the Andrews Government of exemptions and cuts in stamp duty for first home buyers, according to NAB's latest commentary.
Sydney and Melbourne experienced strong house price growth in late 2016 and early 2017, NAB said.
"While we expect some moderation through 2017, current momentum does suggest upside risks, particularly in Victoria where the government has recently announced a stamp duty exemption or reduction for first home buyers buying a property for under $600K and a reduction for those between $600-$750K," the report stated.
Price growth for apartments is likely to be softer, and negative in Victoria and Brisbane where the supply response will be greatest. The outlook for houses and apartment prices remains negative in Perth, and subdued in Adelaide. 
The outlook for commercial property in Victoria and NSW remains solid too, according to NAB's commercial property index, while it is expected to be soft for Queensland and NT, and negative in WA, though there will be modest improvement over the next two years.
"Operating budget balances in eastern states are strong owing to strong population growth and housing market activity, while the budget position in mining states is looking a little healthier (especially in 2016-17) thanks to resurgent coal and iron ore prices (a support which is temporary in our view)," NAB said in the report. 
<a href="https://www.propertyobserver.com.au/images/2017/03/09/Screen%20Shot%202017-03-09%20at%201.57.59%20PM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/03/09/Screen%20Shot%202017-03-09%20at%201.57.59%20PM.png" alt="">
 
 
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Upside risks for Victoria residential property market: NAB

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The Victoria government recently announced new renting laws enabling long-term residential leases for more than five years which it says will help renters “lay down roots” and give investors a steady source of income.
The new optional form agreement will be developed this year and made available in 2018, the government said in a news release.
But landlords and industry players are already sceptical.
Property mangers say landlords are unlikely to offer leases more than five years because personal circumstances are likely to change given such a long period, such as financial difficulties, job relocations or other family matters.
Even the Tenants Union of Victoria, which welcomed the changes, said longer-term leases may not be the best answer for more security for the growing cohort of Melbourne renters, according to a post in <a href="https://www.domain.com.au/news/victorian-government-announces-longterm-leases-but-do-landlords-and-renters-want-them-20170302-guoroa/">www.domain.com.au</a>.
The changes are part of the Residential Tenancies Act 1997 (RTA) and will include an online matching service for landlords and tenants who want to enter into long leases.
The government says families are the “most common renters in Victoria and there are many who are interested in a long-term lease to be able to lay down roots – to find a local job, enrol their kids in school and establish themselves in a community”.
The government said it is part of its Homes for Victorians housing strategy and supports the government’s Plan for Fairer, Safer Housing.
It says long leases will also benefit investors as they will have a steady source of income.
Long-term leases have formed part of broader consultation during the review of the RTA, which began in mid-2015 and still going on. The government has provided funding of $1.25 million over four years to support these changes. 
However, the Real Estate Institute of Victoria, which is working with the government on its tenancy review, said though it supported the change but it was unclear why the decision was taken in the middle of an ongoing consultation process.
REIV chief executive Gil King was quoted by Domain as saying it was more broadly concerned with how other parts of the review may drive up rents and force landlords to exit the market.
Yaelle Caspi, policy officer at the Tenants Union of Victoria, said the best way to improve security for renters would be to repeal no-reason eviction notices and provide increased protections from unfair and unnecessary evictions.
“We know that tenants want more security, but that doesn’t necessarily mean longer fixed-term leases,” she said.
Also, fairer processes for rent increases and limits on lease breaking costs was needed, added Caspi.
Nelson Alexander Ivanhoe’s Jason Pettit said demand for leases of more than five years would be extremely slim. It was difficult for landlords and tenants to know what their circumstances would be in 12 months, let alone five years, he said.
“If either parties locked themselves in for a period of that length, it could get them into more trouble than it’s worth,” Pettit.
“I’ve had tenants request leases for two or three years on occasion – more often than not, the landlords refused and preferred to just do the 12 months with recurring renewals.
“You can get relationship breakdowns, financial difficulties, job relocations and family matters – there’s so many different variables outside of just living in a property that could cause a move.
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Victoria announces long-term leases to protect renters, scepticism abounds

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The Andrews government will double the first home owner grant to $20,000 from July 1 for buyers in regional Victoria, as it tries to battle the affordability crisis.
The FHB grant was $10,000 since July 2013. 
The government said the move would help about 6,000 first-home buyers. The grant is only for new homes, not established properties.
Treasurer Tim Pallas was cited by media reports as saying doubling of the grant would increase the appeal of living outside of Melbourne for young families.
Last month, the Andrews government said it was investing $16.4 million to accelerate planning and approval processes to ensure the supply of new housing in Victoria more than meets the annual demand.
Pallas had said that Victoria was taking the lead on improving housing affordability and would extend its Streamlining for Growth Program for three more years to reduce red tape and encourage housing development in key areas.
The state government also offers first-home buyers a 50% duty concession when they buy a new or established home for properties below $600,000 and where the settlement date is on or after July 1, 2011, according to the state revenue office.
But media reports cited the Opposition criticising the move because it is only going to push up property prices and not increase affordability.
"Property developers across regional Victoria will be rubbing their hands together. This is a terrific outcome for them," Shadow Treasurer Michael O'Brien said.
"Unfortunately it's not going to make property more affordable for first-home buyers because prices will simply increase."
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