<p>The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p data-end="345" data-start="110">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.</p>

<p data-end="689" data-start="347">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.</p>

<p data-end="689" data-start="347">Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.</p>


Joel Robinson

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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.</p>

<p>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.</p>

<p>“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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.</p>

<p>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.</p>

<p><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" /></p>

<p>“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.</p>

<p>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.</p>

<p>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.</p>

<p>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>.</p>

<p><em>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></em></p>


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

<p><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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.”</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>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.</p>


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

<p>Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;</p>

<p>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;</p>

<p>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;</p>

<p>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;</p>

<p>Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;</p>

<p>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;</p>

<p>“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;</p>

<p>“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."</p>

<p>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;</p>

<p>"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;</p>


Bottega House secures landmark riverfront site in St Lucia 

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<p data-end="157" data-start="0">The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.</p>

<p data-end="459" data-start="159"><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.</p>

<p data-end="459" data-start="159">[smartcode_project:default project_id=112661 project_image_fid=359603]</p>

<p data-end="651" data-start="461"><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.</p>

<p data-end="950" data-start="653">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.</p>

<p data-end="1081" data-start="952">“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.</p>

<p data-end="1081" data-start="952">[smartcode_project:default project_id=112661 project_image_fid=355935]</p>

<p data-end="1307" data-start="1083">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.</p>

<p data-end="1522" data-start="1309">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.</p>

<p data-end="1522" data-start="1309">[smartcode_project:default project_id=112661 project_image_fid=361052]</p>

<p data-end="1714" data-start="1524">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.</p>

<p data-end="1945" data-start="1716">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.</p>

<p data-end="1945" data-start="1716">[smartcode_project:default project_id=112661 project_image_fid=359607]</p>

<p data-end="2220" data-is-last-node="" data-is-only-node="" data-start="1947">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.</p>
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</section>

<p>[smartcode_project_cta:default project_id=112661]</p>


SIERA kicks off construction at Northcliffe tower Exhale

Victoria

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<p>As the Melbourne market gradually winds down, locations in regional Victoria are rising. Regional cities and towns within striking distance of the state capital in particular are travelling well.</p>
<p>There are conflicting views about whether Melbourne has passed its peak or whether it’s still booming.</p>
<p>My research indicates the city’s market has undoubtedly passed the peak in its cycle, with a significant reduction in sales activity since the start of the year. The markets that showed exceptional price growth in the past 12-18 months, particularly middle market suburbs, are no longer growing.</p>
<p>There are still some good sales happening, caused partly by a shortage of listings, which is helping to keep prices strong in selected locations. But the market that existed in 2014 and 2015, with sales activity rising strongly and prices achieving double-digit annual rises in many areas, is no longer happening.</p>
<p>But regional markets close to Melbourne are rising. I have written in the recent past about the City of Greater Geelong, which is now the strongest market in the state.</p>
<p>Bendigo and Ballarat, both strong regional economies close to the state capital, are solid markets with steady price growth.</p>
<p>In between those cities and Melbourne, there are two municipalities which have caught the wave from Melbourne and grabbed the attention of people seeking an affordable lifestyle just outside the city.</p>
<p>These are Macedon Ranges Shire and Mitchell Shire. In a July column I touched briefly on these places in discussing state government population projections.</p>
<p>Macedon Ranges is expected to grow its population 25 percent over the next 15 years. But the municipality likely to see the most dramatic increase in population is Mitchell Shire, which is forecast to more than double its population from 40,000 in 2016 to 81,500 in 2031.</p>
<p>This will make Mitchell Shire - a little north of Melbourne, including towns such as Kilmore, Seymour, Broadford and Wallan - the fastest-growing area in the state.</p>
<p>In the next 20 years Wallan (which is about 60km from the Melbourne CBD) is projected to grow from 11,000 to 31,000, while the village of Beveridge is forecast to explode from the current 1,700 to 21,000.</p>
<p>The towns of Macedon Ranges have already experienced substantial price growth. Towns with big increases in median prices in the past 12 months include Gisborne (up 11 percent), Riddells Creek (up 14 percent), Macedon (up 30 percent) and Mt Macedon (up 18 percent). The median house price for Macedon has risen from $530,000 to $685,000 in 12 months.</p>
<p>Now we’re seeing the towns of Mitchell Shire starting to move. The attractions are affordability relative to Melbourne; a relaxed country lifestyle; and proximity to Melbourne with good road and rail links. It’s feasible to live there while commuting to jobs in Melbourne (keeping in mind that most Melbourne jobs are NOT in the CBD – many of them are in the northern suburbs).</p>
<p>Median house prices include $350,000 in Kilmore, $240,000 in Seymour, $285,000 in Broadford and $380,000 in Wallan.</p>
<p>To date price growth has been moderate – around 5-6% in the past 12 months – but more is expected in the near future.</p>
<p class="Body"><em>Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a></em></p>
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terryryder-YECXbqmri2

Forget Melbourne, the regions are Victoria's rising property hotspots 

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<p>The asking price of the Muckleford, Victoria property with a green-and-yellow W-class tram as its centrepiece, has been reduced to $410,000.</p>
<p>The three-bedroom, one-bathroom home, <a href="https://www.domain.com.au/property/for-sale/house/vic/muckleford/?adid=2011451303" target="_blank">10 A Frame Track, Muckleford</a>, had been initially marketed at $439,000.</p>
<p>Set on 20 acres, 130 kilometres north-west of the CBD, the home has been fashioned around the tram including mud brick sections.</p>
<div id="conditionalAd-300x250-pos-3">
<div id="google_ads_iframe_/6411/WATODAY/domain/realestatenews_13__container__"> The tram has been renovated to include multi-functional bedroom-study-living areas as well as a kitchen and dining area. </div>
</div>
<p>The trams were produced between 1923 and 1956 by the Melbourne and Metropolitan Tramways Board. </p>
<p>Owner Gary Markoff paid about $1000 to buy the decommissioned vehicle and haul it to the country about 35 years ago.</p>
<p>Cantwell Property, Castlemaine, agent Genevieve Cantwell, is selling the home.</p>
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jchancellor-FAypfDUnLy

Tram fare price at Muckleford comes down to $410,000

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<p class="Body">From a first home buyer perspective, there is something very wrong with the housing market in Victoria.</p>
<p class="Body">In February, the most recent data available from the Australian Bureau of Statistics (ABS) showed that the total number of dwellings financed for first home buyers had sunk to a 23 year low.</p>
<p class="Body">In February there were 1,402 dwellings financed for first home buyers which  represented a mere 11.76% of the entire number financed. This was lower than in January when first home buyers represented 12.7% of the market and the lowest in raw terms since July 1991 when the population of Victoria was 31% less than it is today.</p>
<p class="Body">The reasons behind  this result are debatable. Some will say that the causes are high property prices, but this alone is not borne out by the data. When home values last peaked, in October of 2010, the proportion of first home buyers was 18.2%. In real terms, prices are not significantly different at this point which suggests that the problem is not entirely the price.</p>
<p class="Body">Others point to the fact that rents are not rising and suggest that intending first home buyers are preferring to rent.</p>
<p class="Body">Another perspective is that the change to financial assistance for first home buyers has caused many to not enter the market. At the same time as the large step down in the proportion of first home buyers occurred in the middle of last year, the $7,000 First Home Buyer Grant for established homes came to an end.  This alone cannot be the only issue as at the same time stamp duty was being progressively lowered for first home buyers.</p>
<p class="Body">The reasoning for this change in the market is probably a combination of all  issues mentioned and if the market  remains this way, it will represent a significant structural change in the local housing market.</p>
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rlarocca-zWhvjay44N

First home buyers in Victoria lowest in 23 years

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<p>EXPERT OBSERVER</p>
<p>Brisbane's once-rampant apartment construction has now righted itself, and indeed median unit prices were up a fraction over the past year in the Queensland capital. </p>
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<div>Victoria's apartment construction on the other hand has exploded to a record high (as expected from leading indicators), with the value of work done an astronomical 416 per cent higher than a decade earlier in chain volume measures terms. </div>
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<div>Sydney doesn't build so many houses, so a lot of activity is expected, but for Melbourne this is a boom-and-a-half!</div>
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<br>It's an everything boom for Victorian construction with public and engineering works also going on a tear. </div>
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<div>Queensland engineering construction is also finally on the rise again after the state's multi-year downturn. </div>
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<br><div>Adding in detached housing construction, Victoria's construction super-boom over 16 consecutive quarters and counting helped to increase total work done nationally in the second quarter by 1.6 per cent in seasonally adjusted terms. </div>
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<div>Eight consecutive quarterly increases in South Australia have also helped to offset the resources and housing construction weakness in Western Australia.<br><br>Construction work in New South Wales is set to top out now as apartment starts decline. </div>
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<br><div><strong>Job ads stalling</strong></div>
<div> </div>
<div>In other news skilled job vacancies were up by 4.7 per cent from a year earlier to be 30.5 per cent above the October 2013 nadir in July 2018, according to the latest Department of Employment figures. </div>
<div> </div>
<div>The seasonally adjusted monthly result was up just a notch following three consecutive declines. </div>
<div> </div>
<div>Unsurprisingly Victoria scored well here too, with falling unemployment looking like a shoo-in for Melbourne. </div>
<br><div class="separator"><a href="https://3.bp.blogspot.com/-oDN5Lkggpdk/W3zV6M2hRaI/AAAAAAAAros/hdUwylmO0ccmBenJN0Gi8BlEILu59fHKQCLcBGAs/s1600/DoE.jpg"><img src="https://3.bp.blogspot.com/-oDN5Lkggpdk/W3zV6M2hRaI/AAAAAAAAros/hdUwylmO0ccmBenJN0Gi8BlEILu59fHKQCLcBGAs/s640/DoE.jpg" width="640" height="368" data-original-height="793" data-original-width="1374"></a></div>
<br><div>In Western Australia vacancies were up 16.3 per cent over the past year, pointing to brighter days ahead across the Nullarbor.<br><br>Nationally, though, the growth in job ads seems to have stalled, with an election to follow - and that rarely inspires confidence in employers.</div>
<div><em> </em></div>
<div><em>PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.</em></div>
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Victoria's everything boom: Pete Wargent

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<p>With the vast majority of homes sold in the last financial year now settled, it is possible to calculate some of the key numbers in the Ballarat market.</p>
<p>Over the year a total of $639 million was spent on houses in the City of Ballarat and $68 million on units across 1,942 house sales and 281 unit sales. There were 12 million dollar house sales – the median value of a house was $301,001. The median house value rose by 7.1% compared to 7.9% in Melbourne</p>
<p><strong>Largest growth in median house values by suburb:</strong></p>
<ul>
<li>Golden Point</li>
<li>Soldiers Hill</li>
<li>Black Hill</li>
<li>Redan</li>
<li>Mount Pleasant</li>
</ul>
<p><strong>Most house sales by suburb</strong></p>
<ul>
<li>Wendouree</li>
<li>Sebastopol</li>
<li>Alfredton</li>
<li>Ballarat East</li>
<li>Delacombe</li>
</ul>
<p><strong>Most expensive suburbs by median house values</strong></p>
<ul>
<li> Lake Wendouree</li>
<li>Lake Gardens</li>
<li>Invermay Park</li>
<li>Mount Helen</li>
<li>Buninyong</li>
</ul>
<p><strong>Most affordable suburbs by median house values</strong></p>
<ul>
<li>Sebastopol</li>
<li>Wendouree</li>
<li>Redan Mount Pleasant</li>
<li>Ballarat East</li>
</ul>
<p><strong>Highest spend on houses</strong></p>
<ul>
<li>Alfredton ($64 million)</li>
<li>Wendouree ($48 million)</li>
<li>Sebastopol ($42 million)</li>
<li>Ballarat Central ($41 million)</li>
<li>Lake Wendouree ($40 million)</li>
</ul>
<p><strong>Suburbs with million dollar house sales</strong></p>
<ul>
<li>Lake Wendouree</li>
<li>Ballarat Central</li>
<li>Newington</li>
</ul>
<p><strong>Suburbs with the highest proportion of houses advertised for sale:</strong></p>
<ul>
<li>Ballarat Central</li>
<li>Miners Rest</li>
<li>Alfredton</li>
<li>Mount Clear</li>
<li>Newington</li>
</ul>
<p> </p>
<p> </p>
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Top 5 for Ballarat residential real estate sales during 2013-2014 financial year

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<div id="post-body-1941822993323597666" class="post-body entry-content">
<div>The Victorian State Government released an interesting document showing some of the key trends in Victoria's population and household projections out to 2051.</div>
<div> </div>
<div>One of the most notable trends is that Greater Melbourne is attracting younger and aspirational folk.</div>
<br><div class="separator"><a href="/images/2016/07/19/VIC2.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"><img src="/images/2016/07/19/VIC2.jpg" alt=""></div>
<br><div><em><span style="text-decoration: underline;">Source: DELWP</span></em></div>
<div> </div>
<div>The projections out to 2051 show Greater Melbourne's population exploding to well beyond 8 million, while the regional population growth figures project only a moderate increase. </div>
<br><div class="separator"><a href="/images/2016/07/19/VIC.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"><img src="/images/2016/07/19/VIC.jpg" alt=""></div>
<br><div>If anything, these regional figures look to be potentially overcooked to me, given that they project an ongoing strengthening in population growth despite there being any number of rural areas where the population is actually in decline. </div>
<div> </div>
<div><strong><span style="text-decoration: underline;">Long term outlook</span></strong></div>
<div> </div>
<div>One of the challenges facing property investors - and indeed nearly all investors today - is myopia. </div>
<div> </div>
<div>They tend to focus on shorter and shorter term outcomes instead of long term results. </div>
<div> </div>
<div>And given that we are on average living much longer today, almost all of us should be focusing on longer time horizons for investment. </div>
<div> </div>
<div>To explain what I mean, the below figures show the projected population growth over the four decades to the middle of the century.</div>
<div> </div>
<div>The population of Greater Melbourne is projected to expand hugely by 3,854,700 over that time to a total of 8,024,000, accounting for 85 per cent of the growth.</div>
<br><div class="separator"><a href="/images/2016/07/19/VIC3.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"><img src="/images/2016/07/19/VIC3.jpg" alt=""></div>
<br><div>Geelong, which is located very close to the south-western edge of Greater Melbourne, is also expected to grow by 229,000 persons, accounting for 5 per cent of the growth. </div>
<div> </div>
<div>Everywhere else, over time there is going to be less upwards pressure on land values. </div>
<div> </div>
<div>Partly that's because smaller cities have more land available for release, acting as a safety valve on rising land prices.<br><br>And partly it's because absolute regional population growth just won't be very big, even if these relatively bullish forecasts prove to be somewhere close to accurate. </div>
<div> </div>
<div>Similar trends are expected in other states. </div>
<div> </div>
</div>
<div class="post-footer">
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
</div>
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Victoria's population projections: Pete Wargent

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<p>There’s a growing body of research data pointing investors towards the regions.</p>
<p>A recent CoreLogic report, which compiled a Top 50 list of locations where the value of home sales had grown the most over 12 months, found that 46 of the Top 50 were regional locations.</p>
<p>Other recent research highlighted the New South Wales regional areas where price growth is now greater than Sydney’s.</p>
<p>And a report from Brisbane researcher Simon Pressley has predicted that retiring baby boomers will boost regional markets by seeking out towns and cities that offer attractive affordability and good services.</p>
<p>In addition, a State Government report has highlighted regional cities in Victoria where major population growth is expected over the next 15 years.</p>
<p>All that – and a lot more that’s out there in the way of compelling data – is significant because a lot of the simplistic price information and commentary that’s published tells investors that the capital cities are always better than the regions for capital growth. </p>
<p class="Body">This is usually generalised data which produces a single growth figure for the cities and a single growth figure for the regions. It’s quite misleading, because the regional sample includes myriad negative markets (such as resources-impacted towns and drought-affected areas) which drag down the regional average. </p>
<p>That generalised figure doesn’t really tell us anything useful and shouldn’t dissuade investors from considering regional areas – which offer plenty including lower prices and higher yields.</p>
<p>Residex data suggests that Melbourne price growth has averaged 6.9 percent per year over the past decade and regional Victoria only 4.7 percent – but does that matter if you can find a regional centre growing at 8 percent a year?</p>
<p>Right now, the most active and buoyant market in Victoria is not in Melbourne – it's the regional city of Geelong just outside the capital.</p>
<p>A new report on future population growth provides a few clues as to where investors might look for growth in Victoria. Geelong is one of the key places highlighted, alongside Bendigo and Ballarat. </p>
<p>I see all three regional centres as places worthy of consideration by investors. They all offer economic strength and diversity, affordable housing and good transport links to Melbourne, particularly since the completion of the Regional Rail Link. </p>
<p>And, according to the Department of Environment, Land, Water and Planning, all three cities can look forward to strong population growth. </p>
<p>The <em>Victoria in Future</em> report forecasts that the City of Greater Bendigo will grow 30 percent in the next 15 years, assuming current demographic, economic and social trends continue. </p>
<p>According to the report, Bendigo can expect its population to grow from 110,000 in 2016 to 145,000 in 2031.</p>
<p>ABS figures show this will be the continuation of a trend, with the population rising from 93,000 in 2005 to 108,500 at June last year.</p>
<p>Greater Bendigo, Ballarat and Greater Geelong combined are expected to provide half of all regional growth to 2031. </p>
<p>But the municipality likely to see the most dramatic increase is Mitchell Shire, which is forecast to more than double its population from 40,000 in 2016 to 81,500 in 2031. </p>
<p>This will make it the fastest-growing area and the municipality with the second-largest growth in regional Victoria behind Greater Geelong. Mitchell Shire is a little north of Melbourne and includes towns such as Kilmore, Seymour, Broadford and Wallan.</p>
<p>Another LGA getting spill-over growth north of Melbourne is Macedon Ranges, which can expect its population to grow 25 percent over the next 15 years. Macedon Ranges towns have experienced major increases in median prices in the past 12 months, including 20 percent in Gisborne, 14 percent in Riddells Creek and 25 percent in Macedon.</p>
<p>It's further evidence that there is major capital growth to be found in the regions, if you look behind the generalised data.</p>
<p><em>Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a></em></p>
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Most active property market in Victoria is not in Melbourne: Terry Ryder

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<p>Darebin Council, comprising Melbourne’s inner-northern region, has released the city’s first good design guides, devised to help lift the standard of design by developers working in Darebin.</p>

<p>The council endorsed the guides in early September as the first local government to do so outside of the City of Melbourne.</p>

<p>City designer Munir Vahanvati led the development of the documents which clarify the Council’s expected outcomes for design in planning application, and assist planners in pre-application meetings and assessments.</p>

<p>“Planning schemes by necessity are broad and there are various ways to meet the requirements. Our Good Design Guides clarify how Council expects applicants to meet those requirements in Darebin,” he said.</p>

<p>The guides form part of the Council’s design excellence program, aimed to lift the standard of design in multiple ways and help create quality neighbourhoods.</p>

<p>“We know ensuring high quality design will create more resilient and liveable neighbourhoods. It’s not just about aesthetics, it’s about how things work and how the developments interact with their environment”, Vahanvati said.</p>

<p>Darebin is expected to see population growth of 40 per cent over the next 20 years and ensuring good design outcomes for the community is important, said Council CEO Sue Wilkinson.</p>

<p>We want our Darebin of the future to deliver on the ideals so important to us and our community. Our city needs to be sustainable, accessible and liveable, while supporting our diverse population,” she said.</p>

<p>Future guides are planned to set the standards for landscape, streetscape and environmentally sustainable design.</p>

<h2><strong>New developments in the City of Darebin </strong></h2>

<p><strong>1. Northcote Place, Northcote</strong><br>
Two-bedroom townhouses from $895,000<br>
Address: 198 Beavers Road, Northcote VIC 3070</p>

<p><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/beavers.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="435" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/beavers.jpg?itok=PXvwJwsK" width="580"></a></p>

<p>Northcote Place is located in the City of Darebin in a green location beside Merri Creek. Offering two-, three- and four-bedroom townhomes, the development is a “habitat for community-focused living”, the marketing reads.</p>

<p>Designed by ClarkeHopkinsClarke Architects and Akas Landscape Architecture, the project offers native greenery, front porches and landscaped pedestrian streets to draw residents out of their homes. The homes also include a communal garden area with alfresco entertaining space.</p>

<p><strong>2. MERRIPARK3070, Northcote</strong><br>
Two-bedroom townhouses from $995,000<br>
Address: 7/2C Summer Avenue, Northcote VIC 3070</p>

<p><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/merripark3070-7-2c-sumner-avenue-northcote-07eb6edd5b5d506eb872daa2fb67d6e0.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="315" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/merripark3070-7-2c-sumner-avenue-northcote-07eb6edd5b5d506eb872daa2fb67d6e0.jpg?itok=ITnX-MLf" width="580"></a></p>

<p>Designed by Cera Stribley, MERRIPARK3070 comprises eight two-, three- and four-bedroom townhomes across three floors. Situated within the heritage-protected Sumner Estate, the development is in close proximity to Merri Creek and cycling trails.</p>

<p>The homes offer clever storage, floor-to-ceiling windows, courtyard balconies and split-level interiors. Two-bedroom homes are listed from $995,000, and three-bedroom homes from $1.225 million.</p>
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The City of Darebin launch the Darebin Good Design Guide to improve the quality of development and create sustainable and liveable neighbourhoods

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City of Darebin sets new standard for developments

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Stamp duty concessions coming for Victorian commercial and industrial regional properties

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<p><span>Some Victorian home buyers will pay less stamp duty until June next year.</span></p>
<p><span>The Victorian State Treasurer Tim Pallas announced the cut in stamp duty would apply to home sales under $1 million only.</span></p>
<p><span>The duty will be paid at a rate of 50 per cent for new build homes and 25 per cent for existing properties, from Wednesday until the end of June 2021.</span> </p>
<div class="block-content">
<div class="styles__Container-sc-1ylecsg-0 goULFa"><span>New residential builds valued under $1 million will receive a 50 per cent waiver on stamp duty up to $27,500.</span></div>
<div class="styles__Container-sc-1ylecsg-0 goULFa"><span> </span></div>
</div>
<div class="block-content">
<div class="styles__Container-sc-1ylecsg-0 goULFa">
<span><span>Buyers on existing residential properties will secure</span></span> a 25 per cent saving of up to $13,750<span>.</span>
</div>
</div>
<p><span>The discounted rate is aimed at stimulating Victoria’s housing market after coronavirus pandemic-related restrictions.</span></p>
<p><span><span>“With a waiver on stamp duty, we’ll help more Victorians find their home and get more Victorians back to work,” Treasurer Tim Pallas said.</span></span></p>
<p>All purchases of more than $1 million will pay the full stamp duty amount. </p>
<p><span>The budget measure was part of the government’s “Big Housing Build”.</span></p>
<p>The state government forecasts an 11 per cent peak-to-trough fall in house prices, with the lowest point being next in June.</p>
<p>They forecast that prices will only recover to pre-COVID-19 levels in 2022-23.</p>
<p>The budget papers revealed a 25 per cent drop in stamp duty revenue to $4.6 billion in the 2020-21 financial year.</p>
<p>“Land transfer [stamp] duty is expected to recover from 2021-2022 and grow by an average of 15.4 per cent a year, over the forward estimates, but is not expected to reach the 2018-2019 level until 2022-23,” the budget papers stated.</p>
<p>“It’s about equity and putting the support and effort where it can best have effect,” Pallas said.</p>
<p>“The aim is to get as many people in that price bracket [$1 million] and below back into the market.”</p>
<p><span> </span></p>
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