Developer <a href="https://www.apartments.com.au/developers/bottega-property-group">Bottega House</a> has secured council approval for its first Brisbane project - a $270 million luxury residential development on an absolute riverfront site in leafy St Lucia.&nbsp;

The 15-storey project, known as <a href="https://www.apartments.com.au/new-apartments/st-lucia-by-bottega-house-180-macquarie-street-st-lucia-qld-4067">St Lucia by Bottega House</a> , will occupy a prime north-facing site at 178-180 Macquarie Street, directly fronting the Brisbane River in the established inner-west suburb known for its rowing clubs, golf courses and sprawling University of Queensland campus.&nbsp;

St Lucia by Bottega House will feature a suite of amenities including dedicated wellness spaces, a mineral pool and cold plunge. The project has been positioned to attract affluent owner-occupiers seeking high-quality, house-sized apartments.&nbsp;

Bottega House has been set up by co-directors Nick Malloch, Louis Mennes and Craig Marsh.

Malloch said the project drew inspiration from its Brisbane River setting and leafy inner-west surrounds, while responding to the demands of discerning locals looking to transition from freestanding homes into apartment living.&nbsp;

"With an expansive river frontage and lush green surrounds, we knew we had to create something special that reflects the natural beauty of the location while offering residents masterfully crafted homes," said Malloch.&nbsp;

"Our intent was to complement the project's quiet, private setting by introducing residences that offer a calm retreat and sanctuary from the everyday. The result is a harmonious blend of architecture, interiors and amenity that emphasises wellbeing, comfort and beauty without excess."&nbsp;

Malloch added that project consultants had been carefully selected in alignment with Bottega House's commitment to care, quality and attention to detail. The design team includes architects <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a>, interiors practice <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and landscaping by <a href="https://www.apartments.com.au/architects/urbis">Urbis</a>.&nbsp;

Three-bedroom apartments are expected to start around $5 millio. Selling agents Keenan &amp; Byrne said the pricing strategy for the project was anticipated to achieve upwards of $25,500 per square metre.&nbsp;

The project's development approval this week follows the success of Bottega House's inaugural Queensland project - a 22-storey collection of full-floor sky homes at Broadbeach on the Gold Coast which included the sale of a two-storey penthouse at a record price for a beachside residence.&nbsp;

St Lucia by Bottega House is expected to launch to market in November, with construction anticipated to be completed mid 2029.

[smartcode_project_cta:default project_id=151826]

Joel Robinson

Bottega House to make Brisbane debut with St Lucia riverfront apartment development

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> is advancing its affordable apartment model into Brisbane with the acquisition of another site at Cordelia Street in South Brisbane for $27 million.

Sherpa, which has a $1.7 billion pipeline across Southeast Queensland, intends to bring a cohort of apartments exclusively for first homebuyers into its proposed 186-apartment project to be built at 2 Cordelia Street.

The Sherpa model has already been incredibly well received from their Gold Coast projects, where Sherpa Group set aside a number of apartments exclusively for first homebuyers.

The new $320 million project marks Sherpa Group's second development in Brisbane, following its $255 million Symphony project, also on Cordelia Street, which is currently under construction.

Symphony will deliver 146 apartments across 28 levels, offering a mix of one, two and three-bedroom apartments. With 114 already sold, construction by <a href="https://www.apartments.com.au/builders/lps-group">LPS Group</a> is scheduled for completion in 2028.

[smartcode_project:default project_id=7574 project_image_fid=351654]

Sherpa Founder, Christie Leet, said the company was excited to be venturing into Brisbane for its second residential project.

“We’re big believers in the future of Brisbane as we lead into the 2032 Olympics and beyond,” Leet said.

“The success of Symphony has guided us into what will be our second project and we look forward to submitting our plans with council soon so we can deliver yet another quality project to the inner city residential market.

“Our Flourish model has been very well received both in Brisbane and the Gold Coast, and we’re excited to be able to offer some of these apartments again exclusively to first homebuyers to help get them into the property market.

“The model has been extraordinarily well received in our previous projects and it is something we are committed to moving forward.”

2 Cordelia Street will be designed by <a href="https://www.apartments.com.au/architects/hal-architects">HAL Architects</a> &amp; Finegrain and will include Sherpa’s signature residential amenities including pool, gym, recreation, wellness and work from home spaces.

The project will feature ground-floor commercial space, creating a vibrant amenity for residents and the surrounding community.

A development application will be lodged with Brisbane City Council in August on the code compliant site and will be launched to the market early 2027.

Sherpa acquires new site for second Brisbane apartment tower

One of North Sydney's best-known commercial buildings could become hundreds of new homes, with insurance giant Zurich Australia lodging a State Significant Development Application (SSDA) to transform 5 Blue Street into a mixed-use residential development above North Sydney Station.

Rather than demolishing the existing building and starting again, Zurich is proposing an adaptive reuse project that would convert the landmark office building into a 15-level residential development delivering 62 apartments, 86 affordable co-living dwellings, activated retail and significant upgrades to the Blue Street Plaza.

The proposal reflects a growing trend of commercial property owners repositioning ageing office assets into residential housing as Sydney grapples with housing supply shortages and changing workplace demand.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="0bba7d12-06dc-4375-aad7-238c94b21ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.42.05%E2%80%AFAM.png?VersionId=NJl5oLAEBDGuPmY3RnyliKODjMc8lvRh" />

Located directly above North Sydney Metro and train station, the 3,051 sqm site occupies one of the most strategically positioned parcels of land on Sydney's Lower North Shore.

Designed by fjcstudio, the proposal seeks to retain and adapt much of the existing structure while creating a contemporary residential address that better connects with the public domain surrounding North Sydney Station.

The application proposes two basement levels, ground floor retail, affordable co-living accommodation across the podium levels, and apartments above, while preserving and enhancing the publicly accessible Blue Street Plaza.

Rather than pursuing maximum apartment numbers, Zurich has opted for a housing mix heavily weighted towards larger owner-occupier residences.

The proposal includes 62 build-to-sell apartments comprising 12 one-bedroom, 19 two-bedroom, 29 three-bedroom apartments and two premium penthouses. It also incorporates 86 affordable co-living dwellings, which would be managed in perpetuity by a Community Housing Provider.

That balance between traditional apartments and affordable housing reflects the NSW Government's push to increase housing diversity around major transport infrastructure.

The proposal has been lodged concurrently with a rezoning application, with Zurich arguing the site is ideally positioned to support additional housing given its immediate proximity to public transport, employment and services.

"The proposal aims to respond to the housing challenges facing Sydney through the delivery of diverse housing types in a highly accessible location," the design report by fjcstudio states. It also seeks to improve pedestrian amenity through upgrades to Blue Street Plaza while creating a high-performing residential building that responds to the surrounding context.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="36082e15-c636-4481-bb68-5a5f6443fe39" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.41.36%E2%80%AFAM.png?VersionId=5P6VD.fvmqjQfIG3TWWMRXxQWiQBjeFB" />

Rather than replacing the commercial building, fjcstudio has developed a design that works with the existing structural framework above the rail corridor, an approach that significantly reduces demolition while allowing the site to be repositioned as a mixed-use residential precinct.

The existing structural constraints have informed much of the building's design, including its relationship with Blue Street and surrounding public spaces.

The building has been designed as a slender tower rising above a clearly defined podium, with vertically expressed façades intended to reduce the perceived bulk while reinforcing North Sydney's emerging skyline.

According to fjcstudio, the architectural language responds directly to the surrounding commercial towers while maintaining a finer grain expression more closely aligned with the neighbouring Lavender Bay streetscape.

The tower incorporates articulated façade elements, landscaped podium edges and recessed upper levels to soften its appearance and improve pedestrian amenity below.

A significant component of the proposal is the revitalisation of Blue Street Plaza.

The existing public space has long served as one of the primary pedestrian connections between North Sydney Station, Greenwood Plaza and Blue Street, yet its role is expected to become even more important following the opening of Sydney Metro.

Zurich's proposal seeks to strengthen that role by improving landscaping, introducing new retail frontages, enhancing pedestrian permeability and creating more active edges throughout the day and evening.

Ground floor retail would wrap the plaza, while separate residential and co-living entries have been designed to improve wayfinding without reducing street activation.

Landscape design has been integrated throughout the podium and public realm, softening what is currently one of the most heavily urbanised parts of North Sydney.

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fjcstudio has carefully oriented apartments towards Sydney Harbour and the CBD while using privacy blades and articulated façades to minimise overlooking between neighbouring buildings.

Large framed openings along the western elevation maximise harbour outlooks, while the eastern apartments have been angled towards the south-east to improve privacy from neighbouring development.

The project forms part of the continuing transformation of North Sydney from a predominantly commercial CBD into a genuine mixed-use city centre.

Since the completion of Victoria Cross Metro Station, developers have increasingly shifted their attention towards residential projects capable of leveraging the area's unparalleled transport connectivity.

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FiveX recently lodged plans for a 61-storey, 490-apartment tower that would become one of the tallest residential buildings in North Sydney if approved.

Aqualand continues to expand its Lower North Shore presence following the completion of AURA on Walker Street and its recent St Leonards and Roseville proposals.

Developers are also progressing projects throughout Walker Street, Miller Street and the Victoria Cross precinct as demand for well-located owner-occupier apartments continues to strengthen.

First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station

Busy developer Aqualand Prestige has formally taken the next step in its expansion across Sydney's Lower North Shore, lodging a State Significant Development Application (SSDA) for its long-held Archer Street site in Chatswood.

The application covers <a href="https://www.apartments.com.au/new-apartments/51-55-archer-street-chatswood-nsw-2067">51-55 Archer Street</a>, a 1,767 sqm amalgamated site on the eastern edge of the Chatswood CBD, where the developer is seeking approval for a 45-level mixed-use tower delivering 114 apartments, including a significant affordable housing component, alongside retail, commercial space and six basement levels of parking.

The SSDA marks the latest milestone for a project Aqualand has been quietly progressing over the past two years. The developer first secured the site for its Aqualand Prestige platform before undertaking an alternative design excellence process with PTW Architects, ultimately avoiding a formal design competition through the Housing Delivery Authority pathway.

The proposal has evolved considerably from Aqualand's original concept. The revised scheme has been designed around larger owner-occupier product, with an unusually high proportion of three and four-bedroom apartments, targeting the more affluent buyer profile, and downsizer, emerging across the North Shore.

<img alt="Archer St" data-entity-type="file" data-entity-uuid="0171204c-5811-41b5-9b09-2335d1b7c3d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%208.52.48%E2%80%AFAM.png?VersionId=6YTuxfq.puZo7k2wbfgemcO5K3QfXYGQ" />

The 114-apartment mix comprises six studios, 27 one-bedroom apartments, 18 two-bedroom apartments, 50 three-bedroom residences and 13 four-bedroom homes. A quarter of the building will be dedicated to affordable housing, well above the mandated 15 per cent&nbsp;

PTW has structured the building vertically, with affordable housing across levels one to six, premium apartments through levels seven to 31, duplex skyhomes on klevels 32 to 43, a penthouse on level 44, and a rooftop plant level above. Six basement levels will provide resident parking and servicing.

The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.

Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.

"The primary objective of this project was to create a distinctive building that stands out from the recently approved or built structures in the Chatswood area," the design report states, noting the structural efficiency allows greater investment into apartment quality and resident amenity.

Residents would have access to more than 450 sqm of communal open space including landscaped gardens, swimming pool, rooftop entertaining areas, fitness spaces, community gardens, children's play areas and barbecue facilities.

A major focus of the design has been the public domain.

The ground plane has been opened up through landscaped terraces inspired by Willoughby's sandstone ridges, with native planting, public seating, artwork, retail activation and a series of gathering spaces intended to soften what has traditionally been a hard commercial streetscape.

The landscape strategy references Blue Gum forests once common throughout the area, while incorporating Indigenous storytelling, public art and lighting installations to strengthen the connection to Country.

Chatswood has been one of Sydney's busiest apartment markets over the past 12 months, with a steady pipeline of both new project launches and fresh development applications.

Hyecorp recently launched Celine, a 122-apartment development just along Archer Street, while Changfa and Huirong Group are progressing The Anderson, an 84-apartment project on Anderson Street.

Develotek recently secured approval for a 101-apartment tower on Pacific Highway, while Tian An LFD received the green light for Hammond Greens, its apartment development on the edge of the Chatswood Bowling Club.

Commercial property developer FiveX is also making its move into the residential market. Last month it lodged plans for a 61-storey tower with 490 apartments, which, if approved, would become one of the tallest residential buildings in Chatswood.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-targets-chatswood-skyline-with-61-storey-tower-after-north-sydney-plans">First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans</a>

Aqualand is also expanding its development pipeline following the launch of its luxury residential brand, Aqualand Prestige. The developer has delivered a string of high-end apartment projects across Sydney's affluent suburbs over the past decade, most recently AURA by Aqualand on Walker Street in North Sydney.

[smartcode_project:default project_id=30959 project_image_fid=292863]

It has since quietly assembled its next wave of projects.

Earlier this year Aqualand launched Boronia in Roseville, a boutique 111-apartment development on Larkin Street. The project is one of the first significant apartment developments to launch in the suburb ahead of what is expected to become one of Sydney's most active new housing precincts under the NSW Government's Low and Mid-Rise Housing reforms, which allow greater density around train stations.

[smartcode_project:default project_id=152095 project_image_fid=373685]

The developer has also lodged plans for a two-tower, 413-apartment development on Herbert Street in nearby St Leonards, further strengthening its presence across the Lower North Shore.

Beyond that, Aqualand remains behind the final stage of Barangaroo, where plans will deliver a five-hectare mixed-use precinct comprising new homes, retail, hospitality and community facilities, alongside a new Metro entrance and more than two hectares of public open space, completing the Barangaroo precinct.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/central-barangaroo-development-takes-big-step-with-concept-proposal-approval">Central Barangaroo development takes big step with concept proposal approval</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-aqualand-joins-st-leonards-apartment-party">First look: Aqualand joins St Leonards apartment party</a> 
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First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

Mass timber is becoming an increasingly popular construction material in apartment developments, but Adelaide developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> is taking the approach a step further.

At its new <a href="https://www.apartments.com.au/new-apartments/flowe-bowden-18-gibson-street-bowden-sa-5007">Flowe Bowden</a> development, the exposed cross-laminated timber (CLT) structure isn't just about reducing the building's environmental footprint. It also forms the foundation of a broader wellness strategy, influencing everything from indoor air quality and natural materials to the way residents move through and experience the building.

The 115-apartment mixed-use development, designed by Melbourne-based architecture practice Fieldwork, will occupy a prominent island site opposite Bowden Village Reserve, combining one, two and three-bedroom apartments with retail and a dedicated wellness destination.

[smartcode_project:default project_id=152022 project_image_fid=375528]

Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.

The development has been split into two residential wings connected by a naturally ventilated central breezeway, replacing traditional enclosed corridors with open-air walkways that improve natural light, encourage cross ventilation and create more opportunities for neighbourly interaction.

"Rather than treating wellness as something that only happens on the ground floor, our response integrates it throughout the building, which led us to ask what it really means to design a healthy building," Fieldwork Director Quino Holland said.

[smartcode_project:default project_id=152022 project_image_fid=375531]

The building's architecture also reflects Bowden's industrial heritage. The lower podium references the area's historic brick and sandstone buildings, while the upper levels transition to exposed CLT, allowing the timber structure to become a defining feature throughout the apartments and shared spaces.

The use of mass timber sits alongside a range of sustainability initiatives, including a fully electric, gas-free design, rooftop solar and a targeted 5 Star Green Star rating.

[smartcode_project:default project_id=152022 project_image_fid=375524]

Inside the residences, the focus remains on natural, durable materials. Blackbutt engineered timber flooring, exposed CLT ceilings, porcelain surfaces and warm timber joinery create a calming interior palette, while low-VOC finishes and responsibly sourced materials have been selected to improve indoor air quality.

Kitchens have been designed as the centrepiece of each apartment, featuring porcelain island benchtops, timber-look cabinetry and brushed steel tapware, with layouts that maximise natural light and ventilation.

[smartcode_project:default project_id=152022 project_image_fid=375530]

The more traditional interpretation of wellness comes in the form of Level Eleven, a two-storey wellness club spanning the ground floor, mezzanine and first floor.

The facility will include a gym, yoga and reformer Pilates studios, Finnish and infrared saunas, magnesium hot and cold plunge pools, and dedicated recovery spaces. Unlike many residential wellness facilities, Level Eleven will also operate commercially, allowing the broader Bowden community to access the venue while giving residents exclusive membership benefits.

The ground floor has also been designed around everyday living. A café overlooking Bowden Village Reserve will activate the street frontage, while a bike workshop with tool storage, co-working space and dog wash has been incorporated to support daily routines and encourage interaction between residents.

"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.

"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."

Flowe is positioned directly opposite Bowden Village Reserve and within walking distance of Bowden Railway Station and the Adelaide Entertainment Centre, placing future residents just minutes from the Adelaide CBD while remaining connected to one of the city's most established urban renewal precincts.

[smartcode_project_cta:default project_id=152022]

Otello launches wellness-focused Flowe Bowden with Adelaide-first mass timber apartment design

Gippsland

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Victoria’s Gippsland region has only seen moderate growth in land prices in comparison to the remainder of the state.
According to valuation firm Herron Todd White’s latest rural report, this is a result of consecutive poor seasons, including recent bushfires, drought and now COVID-19.
However, the supply of property on the market has been steady in 2020, wrote HTW’s Angus Shaw.
“Irrigation areas such as the Macalister Irrigation District have continued to show their strength with relatively balanced supply and a continued strengthening in demand from both dairy and vegetable growers.”
This can be seen in recent sales, such as 160ha irrigated dairy property Roonsleigh at Tinamba, which sold in excess of $25,000 per hectare inclusive of water.
Other recent sales include two sales of grazing country at Boisdale, suitable for vegetable production, which both sold at auction for in excess of $30,000 per hectare.
According to the report, approximately 70 per cent of dairy operators are expecting a profitable and above five year average return this season.
“The decreasing input costs of hay and grain, improved seasonal conditions and relatively strong milk prices this season have led to significantly improved confidence in the local dairy sector.”
Evidence suggests that the COVID-19 pandemic is having little impact on the majority of rural markets, although drought and bushfire have softened the demand for some grazing properties.
 
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Rural Gippsland sees moderate growth: HTW Rural

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The McGauran family has listed their Gippsland rural estate, Nambrok with a $20 million asking price.
The estate dates back to the 1860s.
The grand Victorian homestead sits on an elevated site on the 989-hectare estate, some 200 kilometres south east of Melbourne.
It was the home of the late John McGauran who was a prominent Victorian hotelier.
Two sons Peter and Julian were federal politicians. Peter was more recently appointed by Julie Bishop as Australia's Consul-General in Houston, Texas, having been the member for Gippsland for 25 years.
<img src="https://static.ffx.io/images/%24zoom_0.184%2C%24multiply_0.5854579792256847%2C%24ratio_1.776846%2C%24width_1059%2C%24x_0%2C%24y_96/t_crop_custom/t_sharpen%2Cq_auto%2Cf_auto/4810225480eab82a8875fbd580213477f8bd02a4" alt="" data-id="4810225480eab82a8875fbd580213477f8bd02a4" data-pb-im-config='{"aspectRatio":1.776846,"type":"landscape16x9","width":600,"url":"https://static.ffx.io/images/$zoom_0.184%2C$multiply_0.56657223796034%2C$ratio_1.776846%2C$width_1059%2C$x_0%2C$y_96/t_crop_custom/t_sharpen%2Cq_auto%2Cf_auto/4810225480eab82a8875fbd580213477f8bd02a4"}' data-cke-saved-src="https://static.ffx.io/images/$zoom_0.184%2C$multiply_0.5854579792256847%2C$ratio_1.776846%2C$width_1059%2C$x_0%2C$y_96/t_crop_custom/t_sharpen%2Cq_auto%2Cf_auto/4810225480eab82a8875fbd580213477f8bd02a4">
Nambrok was the home of Patrobas, which won the Melbourne Cup in 1915.
Patrobas was the first winner to have a female owner, Edith Widdis whose husband John had acquired Nambrok in 1908.
The original brick stables where Patrobas was housed remain in working order.
<img src="https://www.urban.com.au/images/2019/8/5/Patrobas%20Wins%20Melbourne%20Cup.JPG" alt="">
(Source: National Library of Australia)
The McGaurans, who first arrived in Gippsland in 1873, acquired Nambrok in 1985. 
Elders advise it currently runs 540 beef breeders plus progeny and bulls.
John McGauran was the grandson of the family's pioneers Michael and Bridget McGauran. He died in 2009.
"Farming has been integral to the family for 150 years which has had a lasting influence on all family members," a family statement to Nine Entertainment said.
"However, the time has come to see Nambrok flourish in the hands of new owners.
"Everyone who has lived or worked at Nambrok knows its special appeal and the rare beauty of Nambrok House," the family said.
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Home of Patrobas, Nambrok listed by McGauran family at Gippsland

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Over the year to February 2019, dwelling sales were down -10 per cent across the Latrobe-Gippsland region, although current sales activity is in line with the five year average for the region, according to the latest CoreLogic regional report. 
Dwelling values across the Latrobe-Gippsland region increased year-on-year with house values increasing by 5.9 per cent over the 12 months to March 2019, while unit values were up by 7.9 per cent over the same period.
'<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/2019/6/5/latrobe%201.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2019/6/5/geelong%202.jpg" target="_blank">Click here</a> to enlarge: 
<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/2019/6/5/geelong%202.jpg" alt="">
 
Source: CoreLogic 
 Renting is more expensive across the region with advertised rental rates up $20/week for houses and $15/week for units over the year to March.
<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/2019/6/5/geelong%203.jpg" alt="">
 
<a href="https://www.propertyobserver.com.au/images/2019/6/5/geelong%204.jpg" target="_blank">Click here</a> to enlarge: 
 
<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/2019/6/5/geelong%204.jpg" alt="">
Source: CoreLogic 
The time a home sits on the market across the region has improved with the average house selling 17 days faster, and the average unit selling 10 days faster when compared to February 2018. 
The average vendor is offering less of a discount to secure a sale over the same period.
<a href="https://www.propertyobserver.com.au/images/2019/6/5/cairns%205.jpg" target="_blank">Click here</a> to enlarge: 
 <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/2019/6/5/cairns%205.jpg" alt="">
Source: CoreLogic 
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Latrobe-Gippsland regional sales volumes down 10 percent: CoreLogic 

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The Old Slipway site in the East Gippsland tourist town of Lakes Entrance has been listed for sale.
The 5,400 sqm property in the Lakes Entrance central business district is targeting developers to transform the site into a mix of commercial and public space to attract new business investment to the area.
Currently managed by Gippsland Ports, the Old Slipway site fronts directly onto the waters of Cunninghame Arm. It links two commercial precincts and is one of a few waterfront development sites available on the Gippsland Lakes.
Nick Murray, CEO of Gippsland Ports, called the site "an exceptional opportunity" to develop a unique foreshore site right on the Lakes Entrance waterfront.
He suggested in particular the access for boats to the central location opens up many possibilities for visiting boaties and tourism services.
<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/2018/9/18/old-slip1.jpg" alt="">
The site, which has been decommissioned for more than 10 years, includes public land, a car park, two timber buildings and a public toilet. It will be managed by East Gippsland Shire Council, with the developer entering into a long-term lease agreement with the Crown.
King &amp; Heath First National is managing an expressions-of-interest campaign.
King &amp; Heath First National managing director Chris Martin said he expected the opportunity to attract an enthusiastic, resourceful and inspired entrepreneur who could see the potential for redeveloping the Old Slipway site into a vibrant new precinct of Lakes Entrance.
"It is rare for such premium land to become available on the shores of the Gippsland Lakes and we anticipate strong interest from developers," Martin said.
"This Old Slipway site provides a once-off opportunity to create a prime visitor destination with the potential to cater to both tourists and locals. There is also an opportunity for the development to extend out into the waterway."
The East Gippsland Shire Council Mayor, Cr Joe Rettino, said a successful development would provide a seamless integration of innovative, sustainable commercial activities, community sites and open space and reflect the long boating and commercial fishing history associated with the site. There was potential to develop cultural and eco- tourism opportunities highlighting the Gippsland Lakes.
"Lakes Entrance is one of Victoria's iconic tourist destinations attracting over half a million visitors a year and growing at 5.6 per cent each year," Cr Rettino said.
"Whoever develops the Old Slipway is perfectly positioned to take advantage of this, by creating a place that encourages both day and night-time use, with options such as waterfront eateries, outlets offering fresh seafood and regional produce, tourist-oriented retail sales, galleries, public amenities and open spaces."
"There also are wonderful water-based opportunities, such as short-stay and itinerant jetty berths to provide access to the town from the water, and safe swimming and wading sites. We want people from both land and water to stop and enjoy the site."
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The Old Slipway on Gippsland Lake listed as development opportunity

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Ray White Rural Victoria director Jason Hellyer has sold Paringa, a 569 hectare agribusiness operation in Gippsland for $3,250,000.
Paringa comprises a fertile mix of river flat, Fernbank and Perry sandy loams. 
It has been home to a successful Angus breeding, fattening and year-round irrigated fodder crop program.
Located within Gippsland's Wellington Shire, the plot contains 260 acres under pivot irrigation, a further 150 acres under lateral spray irrigation with a 280ML Southern Rural Water irrigation licence. 
Featuring cattle yards, shedding and a four bedroom two bathroom BV manager's residence, it is located in Central Gippsland close to Gippsland Lakes, and the seaside towns of Paynesville &amp; Metung.
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Gippsland's 568 hectare farm Paringa sold

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The Rawson family has sold its South Gippsland cattle and sheep properties, Nardoo and Burrabadeen for about $20 million.
Burrabadeen boasts a <a href="http://www.eldersrealestate.com.au/rural/buy/property-cropping-vic-tarwin-lower-668956" target="_blank">Guilford Bell designed home</a> in picturesque English and native treed gardens (above and below).
Nardoo and Burrabadeen, which cover 1252 hectares just outside the hamlet of Tarwin Lower, were first offered for sale in 2016.
The original asking price was around $30 million, the Australian Financial Review said.
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The owners have consistently produced the equivalent of 800 breeding cows plus followers in addition to 2,000 first cross and composite ewes and lambs. Approximately 200 acres of hay and silage is also produced annually.
The buyers are understood to be a farming couple from the south-east Melbourne fringe who were looking for a larger property further out from the city.
Elders agents Nick Myer and Don Olden confirmed the properties had sold in the local paper, the South Gippsland Sentinel Times.
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<div id="article-inline-ad">The Rawson family co-founded the estate agency, Burgess Rawson in 1976 but sold out of the business in 2010. </div>
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South Gippsland's Nardoo and Burrabadeen sold with Guilford Bell homestead

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The Gippsland residential market price is strengthening, according to Herron Todd White’s latest May report.
The property valuation firm says that sale has recently been in the $700,000 to $1 million range.
“The Baw Baw, South Gippsland and Cardinia markets are strengthening.
“This includes cities and towns such as Warragul, Drouin, Nyora, Lang Lang and Koo Wee Rup.
“Regions such as Morwell and Heyfield have recently had negative press regarding the forthcoming closure of Hazelwood Power Station and Heyfield Timber Mill.
“It will be interesting to see how the market responds.
“Sale has recently had some higher end sales in the $700,000 to $1 million range with increased buyer interest in prestige properties,” the report stated.
A five bedroom house at <a href="https://www.realestate.com.au/property-house-vic-yarragon+south-125496718" target="_blank">168 Yarragon South Road</a>, Yarragon South (above) has been listed for $799,000.
Similarly a five bedroom house at <a href="https://www.realestate.com.au/property-house-vic-warragul-125366018" target="_blank">28 Fernery Boulevard</a>, Warragul (below) has been listed for $879,000.
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Mildura’s housing market has seen modest growth according to Herron Todd White.
“Despite the housing market being active, very modest growth has been seen in housing prices over the past 18 months.
“Houses and units are selling after relatively short selling periods of usually less than 30 days and Mildura’s local economy appears to have strengthened over this period.
“Despite this, it seems there is not quite enough competition amongst buyers to see any significant capital gains.
“The missing ingredient seems to be population growth.
“The latest statistics indicate that Mildura’s population is growing at just under 1% per annum and while this is enough to maintain momentum, it is not flowing through to any substantial price growth,” the report commented.
Herron Todd White says that lifestyle factors influence the growth of the area.
“Employment and lifestyle factors are the things which will influence population growth outlook.
“On the employment front, there is ongoing optimism in key agricultural industries and this is likely to create opportunities in farm work, transport and logistics, agronomic services and some downstream processing.
“However growth in tourism, retail or mining would be needed to see the growth in jobs required to bring significant numbers of families to the region.
“What is clear is that Mildura has enough size and economic diversity to weather any economic downturns reasonably well,” the report advised.
Older residents are beginning to move to Mildura and that is expected to rise Herron Todd White says.
“The migration of older people from surrounding towns and regions choosing to retire to Mildura is expected to continue.
“For this sector, it is lifestyle and availability of medical services along with affordability of housing that will influence their choice.
“Mildura appears to stack up well in this regard,” the report advised.
A three bedroom townhouse at <a href="https://www.realestate.com.au/sold/property-townhouse-vic-mildura-125213478" target="_blank">3 Lakeview Court</a>, Mildura (below) was recently sold for $230,000.
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Similarly a three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-mildura-118748831" target="_blank">906 Fifteenth Street</a>, Mildura (below) was recently sold for $205,000.
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Gippsland and Mildura residential market grows stronger: HTW

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Regions of Gippsland will be on the move while other regions stagnate, according to HTW’s February 2017 update.
Discussions with local real estate agents indicate that 2017 has started off surprisingly with an increase in buyer interest and sales, the report says.
The expansion of the East Sale RAAF Base is increasing confidence in the local area.
Rental vacancies in 2016 were at higher than usual levels, but 2017 is showing signs of investors coming back into the market.
"Sale could be the surprise packet of 2017," HTW says.
TRARALGON/MORWELL/MOE
The Latrobe Valley has come through a tough period and the forthcoming closure of Hazelwood Power Station has put some negativity in the market, says HTW.
Morwell seems to be the hardest hit with evidence of pricing at lower levels than 2014 and 2015, however rental returns are still at a high upwards of 8%.
"Traralgon new construction is still in good demand, so whilst there is come negativity, Traralgon may be a good buyer’s market at the moment with some good quality affordable properties on the available."
WARRAGUL/DROUIN
The Baw Baw region continues to grow. New housing is in high demand and land prices have increased in the past six to 12 months.
A lot more workers are commuting to Melbourne and agents are selling properties quickly.
There is evidence of increase in values in short term periods, the report says.
KOO WEE RUP/LANG LANG/NYORA
"These areas have been a real surprise packet, with fast growth and strong demand," says HTW.
Land prices have increased from $180,000 to $240,000 in a 12 to 18 month period.
Cranbourne and Peninsula buyers are becoming more interested in these regions.
Rural residential small acreage parcels in Nyora are increasing in value.
EAST GIPPSLAND
Bairnsdale will see continued average sales volume and demand ahead.
For Paynesville, 2015 was a good year, 2016 an average year and average volume is expected in the year ahead.
Lakes Entrance is showing better than five year average sales volume ahead.
Overall East Gippsland has average to better than average sales volume.
Phillip Island Phillip Island and the Bass Coast has seen relatively stagnant prices over the previous few years.
Predictions for price level growth in this area are regarded as positive with minor price growth over the past six to 12 months, according to the report.
New housing coming on to the market in 2017 on Phillip Island, mostly around Cowes, may limit price growth as supply is seen to be keeping up with demand.
"Recent press and news stories describing the Bass Coast and Phillip Island as affordable beach side living in comparison to other traditional destinations for Melbourne holidaymakers may result in increased demand and could have a positive impact on price growth," says HTW.
"An increase in interest rates is the most concerning factor with a large number of holiday homes and holiday rentals in this locality.
"Demand for a second residence or holiday home may decrease if the cost of borrowing increases."
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Gippsland's property market will be hit and miss in 2017: HTW

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Investors in Morwell can pick up a miner’s cottage in the vicinity of $130,000 and rent for around $210 per week reflecting an 8 percent yield, according to Herron Todd White's latest monthly market report.
Miners cottages are very common throughout Morwell, Moe and parts of Traralgon. These are generic 3-bedroom, 1-bathroom, timber weatherboard dwellings which seem to be popular with investors.
There is such <a href="https://www.realestate.com.au/property-house-vic-morwell-123584550">an offering at $129,000</a> currently.
The property advisory firm says that Gippsland has the option of the brick veneer, described as an iconic family home and generally structurally sound, but built in the good old days with hardwood frames and flooring.
Entry level at the median price of around $270,000 for the regional city of Sale would likely see a 3-bedroom brick veneer in original or dated condition.
A renovated California Bungalow in a central location will likely fetch around $500,000.
Classic styles for the Gippsland region include 1970s to 1980s brick veneer or in older areas of towns, circa 1930s California Bungalows.
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Gippsland offers 8 percent Morwell investor weatherboards: HTW

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Both median house and unit values across the Latrobe – Gippsland region increased over the year to June 2016, with detached house values sitting at $302,407, which is 3.9 percent higher than one year ago, however having fallen from their recent peak in April ($305,509), according to CoreLogic's regional market report.
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Across the much smaller unit market, values have risen 0.6 per cent over the year to June to $233,482.
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There were 5,504 residential homes sold across the region over the 12 months to May 2016, tracking above the five year average for the region, but indicating slightly less activity across the market when compared to the preceding year.
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A typical house is taking an average of 117 days to sell currently, and the average time on market for units is 122 days, slightly lower than one year ago.
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