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.
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[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

Auctions

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A freehold property in Melbourne’s Hawthorn East suburb has been snapped up by a furniture retailer for $2.1 million at auction.
The auction was conducted by Teska Carson's Matthew Feld and Larry Takis along with Moss Property’s James Moss.
The 719-721 Burwood Road property comprises a two-level commercial building, including ground floor retail/office space with first floor office/storage, on a 425-square metre site, zoned Commercial 1. It was sold with vacant possession.
Feld said the area had seen significant growth in recent years with numerous commercial and residential developments including more than 360 new apartments in just three buildings surrounding the property.
It is close to Swinburne University, parklands, Auburn Railway Station and retail.
"Given the location and the development that has occurred over the last few years including several successful apartment projects and the significant upgrade of Swinburne University, this property has enormous potential and that was not lost on parties interested in occupation, investment and development,’’ Feld said.
The property has 10 metres frontage to Burwood Road and on-site parking.
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Melbourne's Hawthorn East property sold under the hammer for $2.1 million 

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Estate agents were back posting "sold" stickers on their best weekend auction offerings - from a $235,000 Elwood flat to a $5.18 million Mosman trophy home - following the break from sales over Easter. 
Melbourne's St Albans with 15 listings was the nation's busiest weekend auction suburb, ahead of Sydney's Epping with 13, then Reservoir in Melbourne, with 12 offerings.
Auction activity across all the capital cities bounced back after the Easter break, but the national clearance rate dipped to 67 percent from the 1500 offerings, down on the 70.9 prior weekly result, according to CoreLogic RP Data.
There were some 530 homes put to weekend Sydney auction - and a total of 650 homes over the past week - with an overall 70 percent clearance rate.
<a href="/images/2016/04/4/Screen%20Shot%202016-04-04%20at%208.57.11%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/4/Screen%20Shot%202016-04-04%20at%208.57.11%20AM.png" alt="">
Auction clearance rates ranged across Sydney from as high as 94 percent in the city and east to as low as 28 percent in Parramatta.
With 100 plus auctions, the North Sydney and Hornsby region was the busiest followed by the inner south west with 84 auctions.
The Sydney weekend's top under the hammer sale was a five bedroom home at 19 Lower Almora Street, Mosman. It was bought by a Singapore based expatriate. There where five registered parties, but just the two bidders after McGrath agent Anthony Zakos took the opening $4.8 million bid. There had been $4.8 million to $5 million price guidance.
Adelaide was the best performing capital with a 75 percent success rate, but like all capitals, excepting Brisbane, the clearance rate sat lower than one year ago when it was 83 percent. 
There were 567 Melbourne auctions this week, making it the second busiest after Sydney, with around 68 percent of offerings successfully finding buyers this week.
House prices in St Albans ranged from $416,000 to $845,000, for a 613 sqm apartment development site, subject to planning approval at 18 Collins Street. There was a $466,000 St Albans sale to a Sydney investor.
Melbourne's highest sale was $2.415 million at 5 Closeburn Avenue, Prahran, a four bedroom 1905 Edwardian brick home that sold through Kay &amp; Burton.
It had sold the same time last year at $2.155 million - so 12 percent annual price growth - when it was sold through the Marshall White agency who had given a $1.7 million price guidance.
The Prahran sale edged out a $2.25 million Altona sale for the top spot. The 123 Esplanade, Altona sale was a two storey home opposite the beach, two blocks from the pier.
The $235,000 Elwood flat at 6/6 Cyril Street had last sold in 2008 at $195,000 and $220,000 in 2001. It had been a $230 weekly rental when advertised earlier this year, reflecting a five percent rental yield. Woodards Real Estate had been quoting $195,000 to $210,000 for the 1970s one bedder.
There have been 11 suburbs with clearance rates above 90 per cent this year, including Collingwood, Dingley Village and Seddon, according to the Real Estate Institute of Victoria.
The strongest performing weekend Melbourne sub-region was the inner east with 74 percent success, with the regions showing no where near the broad success range witnessed in disparate Sydney's regions.
But both capitals bounced back in activity after the Easter break, though not as much in Melbourne with school holidays underway in Victoria.
School holidays always put a dampener on activity. Auction activity will be next interrupted by the Anzac Day long weekend, then the Queen’s Birthday holiday break in June, which will signal the beginning of the quieter winter auction market.
Generally, the first two weekends in July ranks as the mid-year low point of the national auction market, brought about by cooler weather and the school holidays which combine to create the mid-year market lull. 
Accordingly the prospect of a federal election in early July would be the least disruptive to the real estate industry, agents suggest.
Though agents expect the election to provide a bigger than normal distraction given that negative gearing policy will be one of the key election issues along with capital gains tax policy.
Agents expect some prospective vendors to bring forward their sales campaigns to May and June, but then closer to the election date the prospective sellers will postpone their sales campaigns until later in the year.
CoreLogic RP Data analysis of recent elections showed that there was around a 20 percent preceding drop in the volume of listings, while the clearance rate is usually unaffected. 
Historically when there is no change of government the housing market tends to respond better post-election than when there is a change.
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jchancellor-FAypfDUnLy

Auction activity bounces back post Easter

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Twelve more properties in Sydney's Millers Point were auctioned by the NSW government to fund its social housing scheme across the state.
The auction, through McGrath Estate Agents, fetched $32.85 million, taking the total to $182.73 million from 70 properties sold to date in Millers Point.
Proceeds from the sale will fund 1,500 new dwellings across the state, with 590 new, fit-for-purpose social housing dwellings funded to date, the government announced.
Conservation Management Plans (CMPs) endorsed by the NSW Heritage Council are included in contracts for sale for all heritage listed properties in Millers Point. These contracts ensure new property owners are fully informed of their responsibilities when purchasing a heritage listed property.
The auction results are as follows:
44 Kent Street – a four-bedroom two storey terrace in mid-Victorian style with cantilevered balcony and decorative iron balustrade, sold for $2.385 million.
53 Kent Street – sold for $3 million. It is a three-bedroom three storey residence, one of a pair of Georgian style terraces with added Victorian-era cantilevered balcony.
79 Kent Street (left) – formerly three one-bedroom apartments and two studios, forming the southernmost portion of Winsbury Terrace, sold for $3.2 million.
83 Kent Street – sold for $2.52 million. It is a three-bedroom terrace with an Italianate style mid-Victorian front wing.
15, 21, 25 &amp; 29 Windmill Street – sold for $1.772 million, $1.98 million, $1.75 million and $2 million respectively. These are three-bedroom dwellings built in 1907–1908 in the Arts and Crafts style. The properties have state significance as examples of early twentieth century public housing developed by the NSW Government Architect’s Branch.
52 &amp; 54 Argyle Place – sold for $3.265 million and $3.08 million respectively. Part of a row known as Undercliff Terrace, these properties were built in 1843 for whaling captain George Grimes and are one of the earliest terrace groups surviving in Sydney.
17 Lower Fort Street – sold for $3.9 million. A three to four bedroom terrace, formerly a boarding house, and part of the Milton Terrace.
19 Lower Fort Street (left) – sold for $4 million. Formerly four studio apartments, also part of the Milton Terrace, built in the Victorian Classical style.
The biggest sale since the start of the selloff was for Darling House, which secured $7.7 million, $1.7 million over its auction guide during auction in late February.
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prateek24-ezbwHMbNAk

NSW government raises nearly $33 million from sale of 12 more Millers Point properties

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<div>GUEST OBSERVER Here are my top ten tips for investing in property.</div>
Gauge the level of interest in the property
Auction strategies depend on what the auctioneer does, how other people bid, if there are other people bidding at all, what the level of genuine bid interest is, and, of course, how many dummy bidders there are.
Real estate agent review checklist
When buying by private sale, find out how good the estate agent you are dealing with is as a negotiator.
Three property auction strategies
Once you have carried your research out on the property you can use various auction strategies to put yourself in a winning position.
How to deal with aggressive bidders at auctions
Sometimes in an auction you will strike aggressive bidders.  In this case it's no good if both parties keep throwing in bids aggressively.
Three negotiation tips for passed in property
You have done your research on the property, used the appropriate auction strategies, and the property has been passed in to you. Here's what to do next.
How to draw out negotiations
The longer you can draw out negotiations during a private sale, the more information you will be able to get, and the more desperate the agent will become.
Four steps to value property
For real estate, knowledge is king. Lack of knowledge will cost you money because your inexperience will encourage you to pay more than the property value.
Real estate agents are _______
The agent is one of the unpredictable factors in the real estate equation. According to some people; real estate agents are scum, useless, liars, crooks. 
How to review a floorplan
A floorplan is the 'bones' of a house. Your floorplan also has a large bearing on your 'exit strategy' when you decide to move on.
When there is only one genuine buyer
Sometimes you can work out that you are probably the only buyer interested in the property and that the vendor has a very high price expectations.
 
David Morrell is director, <a href="https://realas.com/" target="_blank">RealAs</a>.
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po-LsXgBTHBmX

Property 101: David Morrell's top ten property tips

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Preliminary auction results for Sydney for the week ending 27 March show 77.4 percent of reported auctions were successful, according to CoreLogic RP Data.
This is strongest clearance rate for the city since mid-February this year, however more results are to be collated.
<a href="/images/2016/03/29/Screen%20Shot%202016-03-29%20at%204.56.25%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/29/Screen%20Shot%202016-03-29%20at%204.56.25%20PM.png" alt="">
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Sydney clearance rate comes in at 77.4 percent: CoreLogic RP Data

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Across the combined capital cities, the auction clearance rate rose slightly to 69.5 percent last week, from 68.8 percent the previous week.
The number of homes taken to auction, however, fell to just 533 across the capital city markets, with Sydney host to the majority of auctions last week (332).
<a href="/images/2016/03/29/20160329-Combined-capital-city.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/29/20160329-Combined-capital-city.png" alt="">
Preliminary results for Sydney show that 77.4 percent of reported auctions (230) were successful, the strongest clearance rate for the city since mid-February this year, however it is likely that this will revise down as further results are captured over the coming days.
In Melbourne, traditionally the country’s largest auction market, there were just 79 auctions held last week, with 54 results reported so far and a clearance rate of 74.1 percent.
<a href="/images/2016/03/29/20160329-Upcoming.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/29/20160329-Upcoming.png" alt="">
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smiller-vwPjRHTkST

Long weekend returns a slight rise in capital city clearance rate: CoreLogic RP Data's Shana Miller

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Rising auction bidder numbers are underpinning the stronger clearance rates we've witnessed this year in most regions across Sydney. 
This emerging trend, if maintained, will soon lead to higher than expected price growth.
The average number of registered bidders sat at four at February auctions, according to the comprehensive data kept by auctioneer Damien Cooley at Cooley Auctions.
It was up on the three during December, but still below the five in February last year.
Sydney's 2016 weekend clearance rates have mostly sat above 70 percent, compared to the low 50s of late last year, and the 80 percent record levels this time last year.
The big test comes today with the traditional pre-Easter Super Saturday bumper auction offerings.
But what has been noticeable in recent weeks have been the anecdotal reports from auctions showing higher bidders numbers.
An original condition 1940s Curl Curl fibro cottage sold at $1.933 million with 11 registered bidders, young families versus owner builders.
After the strong $1.7 million opening bid for 40 Bennett Street, there were five active bidders for the property last sold for £3,500 in 1953.
It was downsizers who completed at Cremorne Point for a three-bedroom triplex garden apartment that fetched $4,065,000. The recent McGrath auction saw 10 parties raise their bidding cards after the $3.1 million opening bid. There had been a $3 million to $3.3 million auction price guide.
A strong auction result at 7 Doris Avenue, Earlwood came after 25 registered bidders turned up at its recent auction. Just four took part before it was knocked down at $1,340,000 to locals who plan to renovate. Auctioneers Rocky Bartolotto, from Auction Services, took a $950,000 opening bid on the three bedroom brick home sitting on a 417 sqm block size.
Not all regions are experiencing the same trend, according to CoreLogic RP Data, highlighting the right method of sale is a extremely important decision. 
Sydney’s strongest performing sub-regions currently stand at Ryde, with 86 percent selling, the Eastern Suburbs at 84 percent and the Inner West at 78.6 per cent. The three weakest regions have been Blacktown, Parramatta and the Hawkesbury for auctions.
But the momentum in some suburbs will catch some agents are giving ridicously low price guidance to buyers. Right at the time when NSW Fair Trading is holding a rigorous underquoting audit with inspectors currently looking at published advertisements and the estimated selling prices contained within agency agreements.  
More importantly they are also reviewing and considering the comparative sale price evidence utilised in developing their estimated selling price.
This means agents must be wise to all the recent sale prices in their patch. 
The early 2016 market rebound has meant underquoting has returned as an issue as in the first seven weeks since the laws were introduced, Fair Trading received 68 complaints. 
"Complaints are from named individuals, anonymous complainants and other real estate agents," a department spokesperson said.
This article was first published in the Saturday Daily Telegraph.
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Bidding numbers at auction suggest surprise price growth for some suburbs

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Childcare centres are much sought-after by investors, with a purpose-built childcare centre in Sydney's Dee Why selling for $6 million to a private investor at auction this week through Colliers International.
The two-storey centre at 63 Lynwood Avenue is approved for 86 childcare places.
It was custom built in 2009 on a 1672 sqm block, said selling agents Brian McInally and Corey Beauchamp of Colliers International.
The property earns a net rental of $358,537 plus GST per annum, and the sale translates to a yield of 5.97%.  
“While we’re seeing yields compress in this asset class, childcare properties are still highly lucrative for investors when compared to other property classes,” said McInally.
The centre is privately run, with the parties agreeing to a 10-year lease with a 10-year option.
It was bought by a private investor, who has a portfolio of petrol stations and was looking to diversify. 
“Childcare is an appealing option for many investors,” said McInally. 
“Demand for childcare places will continue to grow. Our population growth, combined with the strong diversity push to encourage more mothers to return to work means that childcare places are hotly contested. This demand will fuel further growth in childcare property.”
Recently, another childcare centre in Melbourne's Camberwellwas snapped up by a China-based investor for $6.82 million on a tight yield of 5.05 percent. 
The buyer paid more than $400,000 over the reserve for the hotly contested property.
The sale follows a similar result late last year when a China-based investor paid $2.3 million on a 5.1 per cent yield for a childcare centre at Rowville.
Late last year, two childcare centres were sold at a Burgess Rawson portfolio auction in Melbourne for well above $3 million and yields of 5.6 percent.
The one in Hampton sold for $3.95 million and the other in Heatherton for $3.2 million.
 
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Childcare centre in Sydney's Dee Why sells for $6 million, reinforcing recent trend

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Sydney is set for its traditional bumper pre-Easter super Saturday, with around 900 properties scheduled for auction this weekend.
There's plenty at the pricey end as around 100 properties are expected to fetch at least $2 million plus.
It will be a test whether demand matches supply, Cameron Kusher at CoreLogic RP Data suggested, noting the 70 percent plus auction clearance rates reflected confidence returning to Sydney.
Unsurprisingly, Mosman is expected to be the busiest suburb with 21 auctions scheduled for the Saturday and then in the days before the Easter break.
Channel 7 morning newsreader Natalie Barr has brought forward her Mosman auction date to next Wednesday given the very strong buying interest in what was initially scheduled as a post-Easter March 31 auction date.
LJ Hooker Mosman agents Geoff Smith and Richard Harding were initially expecting between $2.5 million and $2.75 million.
Tomorrow the reality TV show stylist Jodie Bursill, from Top Design on Channel Nine, and husband Andrew will be seeking a buyer in Mosman.
The five bedroom, three bathroom home is contemporary having been completed nine months old.
Its Belle Property Mosman listing agent Tim Foote has $5.5 million plus hopes.
"Equity has been building over the last few years in Mosman," Cameron Kusher said.
"They are taking the opportunity to upgrade."
A handful of eastern suburbs offerings are in the same price league at Clovelly and Bronte.
There's also the Rose Bay home on Kent Street of the horse breeder Frank Tagg, and wife Sally is up for sale.
It cost $8 million in 2007 which its McGrath listing agent Ben Collier has been suggesting as a likely sale price this time round.
Sydney's busiest inner west suburb is Strathfield with double digit offerings for auction.
The first auction will be held on site at a three bedder in Balmain at 9.00am and the last property to be auctioned will be in Cammeray at 6.15pm.
The auctions volumes will lesson over the April school break. 
"Historically volumes don't return to pre-Easter levels for a few months until spring," Cameron Kusher said.
CoreLogic RP Data have indicated there are 1070 auctions across Sydney over the next six days.
This week is set to be the biggest week for auctions so far this year, with 3,369 capital city auctions scheduled.
CoreLogic RP Data noted this volume of auctions hasn’t been seen since the last week in November 2015 when 3,729 capital city homes were taken to auction.
The week’s large increase in auction activity is driven by two key factors being the recent public holidays held in four out of the eight states and territories as well as the seasonality experienced due to the Easter holiday coming up at the end of next week, when auction markets are expected to slow down substantially in terms of activity. 
Capital City Auctions this week: • Sydney: 1,074 • Melbourne: 1,701 • Brisbane: 257 • Adelaide: 137 • Perth: 74 • Canberra: 117
The top 5 busiest individual suburbs for auction this week are all located in Melbourne and are as follows; Glen Iris (29), Kew (26), Reservoir (26), Hawthorn (24) and Northcote (23)
 
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Super Saturday: Autumn's biggest auction test

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Melbourne had a preliminary clearance rate of 70.5 percent from 414 auctions for the week ending 13 March, according to CoreLogic RP Data.
Melbourne’s Inner region held 74 auctions and the West 56 auctions. The North West had a clearance rate of 80.6 percent and the Inner South 79.2 percent.
<a href="/images/2016/03/14/Screen%20Shot%202016-03-14%20at%201.20.06%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/14/Screen%20Shot%202016-03-14%20at%201.20.06%20PM.png" alt="">
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