<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>
</section>
</section>

<p>[smartcode_project_cta:default project_id=112661]</p>


SIERA kicks off construction at Northcliffe tower Exhale

House And Land

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<p>Jess and Ayden from The Block will be giving their tips and tricks on building and designing a dream home at the South Ripley Providence HomeExpo Festival later on this month.</p>
<p>The Ipswich Valley home expo, to be held in South East Queensland on the weekend of August 22-23, is complete with 24 homes on display.</p>
<p>Metricon, Plantation Homes, Stylemaster, Ausbuild, Bold Properties, Burbank, Simonds, Hotondo Homes and Planbuild Homes will be featured.</p>
<p>Providence project director, Michael Khan said the Providence Home Expo will consist of 24 of the latest home designs by the leading builders and people will be able to walk through these homes and visualise their new lives in Ripley Valley.</p>
<p>Providence is being developed across 670 hectares, roughly three times the size of Brisbane’s CBD land mass.</p>
<p>For more information, <a href="https://www.providenceripley.com.au" target="_blank">click here</a>. </p>
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mick.cee-iDmgDDAmu8

Jess, Aiden from The Block set for Ipswich Valley Providence HomeExpo

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<p><span>The Commonwealth Bank of Australia plans to introduce restrictions on lending to first-home buyers and investors for property purchases in greenfield housing estates.</span></p>
<p><span>The bank has advised brokers that the approval of finance for buyers of land lots would be delayed until all preliminary work on the project has been completed.</span></p>
<p><span>Developers now worry that the plan will have an adverse impact on the housing sector in the outer suburbs of Australia’s capital cities.</span></p>
<p><span>The Commonwealth Bank of Australia plans to tighten conditions for loans to new housing developments, where in a presentation to brokers, seen by The <em>Australian Financial Review</em>.</span></p>
<p><span>It noted presentation to brokers, marked "confidential", will restrict pre-sales of houses and likely put further pressure on prices by limiting the supply of houses.  </span></p>
<p><span>Currently many developers have to pre-sell many lots on a planned site before a bank will lend money needed to start earthworks and install water, sewerage and electricity services.</span></p>
<p><span>The <em>AFR</em> says investors account for as much as 45% of buyers in new housing developments.</span></p>
<p><span>"There is no justification for cutting off the credit tap for new residential development," said Harley Dale, the HIA's chief economist.</span></p>
<p><span>"It would be very concerning at this point in time if it became more difficult for people to get into a new home, which is the end issue here."</span></p>
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jchancellor-FAypfDUnLy

CBA to restrict greenfield house and land lending

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<p><span style="line-height: 1.3em;">All 46 lots offered in the final release of Mirvac's Schofields master-planned development were sold out on the weekend.</span></p>
<p><span>More than 700 people registered interest in the blocks, which started at $399,900 for a 324-square-metre block.</span></p>
<p><span>Some were offered as house-and-land packages starting at $670,500 in the <a href="https://theavenue.mirvac.com/" target="_blank"><span>393-lot development</span></a>.</span></p>
<p><span>Six new home designs were launched at <a href="https://theavenue.mirvac.com/about/overview/" target="_blank"><span>The Avenue </span></a>in late June 2015.</span></p>
<p><span>Mirvac's head of residential, John Carfi, said The Avenue was set within the government's north-west growth sector which has benefited from investment in infrastructure including the Schofields train station, new schools and roads.</span></p>
<p><span>"The Avenue blends the peace of rural tranquility with the convenience and rich amenity of an established urban neighbourhood," the marketing suggested. </span></p>
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 Sellout in Schofields on The Avenue

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<p>ASIC has commenced proceedings in the Victorian Federal Court against land banker company administrators, David Anthony Ross, Richard Albarran and the landbanking company, Midland HWY Pty Ltd (Midland HWY) (administrators appointed).</p>
<p>Messrs Ross and Albarran, of Hall Chadwick Chartered Accountants, are the current appointed administrators of the controversial land bankers, Midland HWY.</p>
<p>But the administrator appointment on July 14 has become the subject of ASIC's proceeding in which ASIC seeks their removal as administrators or to invalidate the first meeting of its creditors held on July 14.</p>
<p>Midland HWY had previously appointed Messrs Nicholas John Martin and Craig David Crosbie of PPB Advisory as joint and several administrators, just two weeks earlier.</p>
<p>Prior to being placed into voluntary administration on 2 July 2015, Midland HWY was the developer of a land banking scheme known as, Hermitage Bendigo (formerly, 'Acacia Banks'), located just outside of Bendigo, Victoria.</p>
<p>"ASIC is concerned that the appointment of Messrs Ross and Albarran, as replacement administrators to Midland HWY, occurred in circumstances where many investors in Hermitage Bendigo, who may also be creditors, were not given notice of the first meeting of creditors," ASIC advised.</p>
<p>The matter is set down for hearing on August 3, 2015.</p>
<p>The financial advisor Scott Pape, known as the Barefoot Investor, <a href="/news/scott-pape-warns-about-central-victoria-land-banking-paddock-speculation">warned investors last year not to lured by spruikers into speculatively buying rural zoned land his central Victorian district</a>.</p>
<p>The land banking process involves paying a $40,000 option on a portion of a larger rural parcel of land in anticipation of residential zoning.</p>
<p>In seven to 10 years' time the buyer has the option to buy or sell it, and supposedly make capital gains after rezoning success by the property spruiking investment firms.</p>
<p>"The mob behind this have reportedly been selling options on paddocks around my home town of Bendigo," Pape told his <em>Herald Sun</em> readers.</p>
<p>"I think it’s a giant, steaming, dog turd of a deal," he advised.</p>
<p>Last year the Urban Development Institute of Australia chief executive Tony De Domenico warned buyers to be careful about paying for options or reservation fees on land that ultimately may or may not be developed.</p>
<p>Hermitage Bendigo has been loosely aligned with longtime notorious property spruikers.</p>
<p>Last month the Australian Securities and Investment Commission told members of the Senate Economics Legislation Committee they were "making inquiries" into land-banking schemes involving millions of dollars from mum and dad investors.</p>
<p>Land banking spruiking has been also marketed in outer western Melbourne, Ballarat and Wallan.</p>
<p>Buying land, not houses was pushed as the most suitable investment strategy by the marketeering companies for the mum ands dad investors.</p>
<p><span style="font-size: 12.1599998474121px; line-height: 1.3em;">It used options to buy land as opposed to borrowing money and paying interest on the land for a decade or more waiting for it to rise.</span></p>
<p><span style="font-size: 12.1599998474121px; line-height: 1.3em;">“Especially if you can use ‘property options’ to avoid borrowing, it means you get all the upside of capital growth without any interest repayments or holding costs or the need to beg a bank to loan you money,” was the pitch.</span></p>
<p>Buyers were told that if they were able to secure an option over a future lot of land worth $150,000 today, in ten years time they could expect the land to be worth $300,000 or more of in a fast growing area.</p>
<p><span style="font-size: 12.1599998474121px; line-height: 1.3em;">“A great idea to action now, for children to lock in property at today’s prices. </span></p>
<p><span style="font-size: 12.1599998474121px; line-height: 1.3em;">"Or you can resell the option for a handsome profit and never need to buy the land as it has intrinsic value.</span></p>
<p>“The best thing about property options means you aren’t obligated to buy i.e. as they are simply call options, you have no risk and can walk away at any time.</p>
<p>“Plus if the option is by a legitimate supplier, they will offer a 100% money back guarantee if the worse should happen and the development doesn’t proceed, secured by the land development itself.</p>
<p>“These quality 100% money back property options secured by real estate are becoming highly sought after products for savvy investors."</p>
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ASIC moves on Hermitage Bendigo land banking scheme administrators

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<p>Retailing businessman Gerry Harvey has bought Ardgour at Bundella, 435km northwest of Sydney.</p>
<p>The 1750ha farm, Ardgour comes with about 500 Angus cattle across 18 paddocks - originally part of Bundella Station. </p>
<p>Ardgour is a very well known and well respected grazing property, situated in the sought after foothills of the Liverpool ranges, west of the townships of Willow Tree and Quirindi, southwest of the regional city of Tamworth, and south of the township of Gunnedah.</p>
<p><a href="https://www.meares.com.au/property/ardgour/gallery/ardgour.htm" target="_blank">Chris Meares of Meares &amp; Associates</a> marketed the farm as in the area renowned for its scenic and sheltered valleys, rich basalt soils and above average annual rainfall.</p>
<p>The property was last traded in the 1970’s.</p>
<p>A feature of Ardgour is the spacious four bedroom homestead.</p>
<p>The buinessman is seeking a tenant who will live in a four-bedroom 1900 stone and weather­board homestead built, but the farm will be run by Ardgour’s long-time manager Jim Kerr, who lives in a separate house on the property in the foothills of the Liverpool Range.</p>
<p>Gerry Harvey offered the homestead for just $100 a week, as long as they promise to keep the house in order and do some gardening.</p>
<p>“I’ve got this great big house and if nobody lives in it it’ll go under, and I can’t live in it, so I thought someone might want to rent their house in Sydney for $600 or $700 a week and come and look after it and do the ­garden,” Mr Harvey told The Australian.</p>
<p>Gerry Harvey fielded more than 80 inquiries after an ­exchange on radio with 2GB broadcaster Ray Hadley and John Singleton about the farm.</p>
<p>“Whoever gets this place, Katie has to interview them to make sure they are nice people, we want nice people.”</p>
<p>The property was sold by the executors of the estate Late John Hudson to Gerry Harvey on a ‘walk in walk out” basis, for an undisclosed price.</p>
<p>Chris Meares, for the marketing agents Meares and Associates commented that Harvey's interest in the beef industry had led to his purchase of Ardgour.</p>
<p>"Over the years he has been a key supplier of Wagyu beef in to the Japanese market," Chris Meares said.</p>
<p>"With its suitability for breeding quality cattle and its closeness to feedlots, Harvey sees Ardgour as an ideal property to produce Wagyu cross calves for this market.”</p>
<p>The property was purchased by the Hudson family in the 1970s.</p>
<p>Hugh Brownhill, for Meares and Associates, added Harvey had purchased the impressive Angus cow herd which has produced sale yard highs in recent weaner sales with its steer calves selling in excess of $900 per head.</p>
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Gerry Harvey's Ardgour homestead for rent on the Liverpool Range

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<h3 class="post-title entry-title"><strong style="color: #333333; font-family: Tahoma, Helvetica, Arial, sans-serif; font-size: 12px; line-height: 1.3em;"><span style="text-decoration: underline;">Consumption and deleveraging</span></strong></h3>
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<div>An interesting speech from Dr. Christopher Kent, Assistant Governor of the Reserve Bank of Australia (RBA) in Canberra.</div>
<div> </div>
<div>The speech noted that household consumption has responded to low interest rates since 2013, but in a less strong manner than might have been expected.<br><br>Let's take a look at three of the main observations raised...<br><br><strong><span style="text-decoration: underline;">Part 1 - The balance sheet and wealth channels ("aka. Equity withdrawal, mate")</span></strong>
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<div>One of the drivers for a less strong consumption response through this cycle has been the diminished role of housing equity withdrawal.</div>
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<div>In the first half of the 2000s households withdrew significant equity to finance their consumption, but this no longer appears to be occurring on such a widespread basis, according to the Reserve Bank's data.</div>
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<div>In fact in recent years household net spending on assets has exceeding borrowing.</div>
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<div class="separator"><img src="https://1.bp.blogspot.com/-B1H_R0K_1UU/VX692piqWgI/AAAAAAAAWIA/fZS-HIftYAY/s400/RBA1.jpg" width="365" height="400"></div>
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<div class="separator">The evidence here suggests that the so-termed "wealth channel" - rising household wealth boosting consumption - has not been as effective to date as in cycles past.</div>
<div class="separator"> </div>
<div class="separator"><strong><span style="text-decoration: underline;">Part 2 - The cash-flow channel - household balance sheets and buffers</span></strong></div>
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<div class="separator">Of course, it is well known that Australian households are net borrowers on average. </div>
<div class="separator"> </div>
<div class="separator">However, the RBA's figures also show that while households' interest earning assets (such as bank deposits) have risen strongly as a share of disposable income over recent years - even exclusive of superannuation - interest bearing liabilities have not.</div>
<div class="separator"> </div>
<div class="separator">In fact, household liabilities as a share of household disposable incomes have been steady for some years now.</div>
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<div class="separator"><img src="https://1.bp.blogspot.com/-ZUlS798T_sM/VX6_I-lCS6I/AAAAAAAAWIo/JSStEaFE5C0/s400/RBA6.jpg" width="365" height="400"></div>
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<div class="separator">How so? This is thanks in part to record low borrowing rates, with aggregate mortgage buffers apparently soaring to record levels and many households evidently electing to pay down their debt faster, known as "deleveraging".</div>
<div class="separator"> </div>
<div class="separator">I believe that this is in part due a mechanism whereby mortgage repayments are held steady even in the event of downward adjustments to interest rates on variable rate products, something which is perhaps unique to Australia.</div>
<div class="separator"> </div>
<div class="separator">Average mortgage prepayments are rapidly approaching an incredible 30 months, while as a share of housing loans outstanding aggregate mortgage buffers have soared to well over 15 per cent, which is remarkable if true.</div>
<div class="separator"> </div>
<div class="separator">In short, through this interest rate easing cycle more households appear to have moved further ahead on their mortgage repayments.</div>
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<div class="separator"><img src="https://3.bp.blogspot.com/-_GJEDSZ7SqE/VX692rQKzvI/AAAAAAAAWIE/9XIu_L5yvgE/s400/RBA2.jpg" width="400" height="336"></div>
<br><div class="separator">It is often said that Australians are holding "record high" household debt, but the Reserve Bank charts claim that this fails to acknowledge the increasing role of offset accounts and investor credit.</div>
<div> </div>
<div>When offsets and credit are included in the statistics household credit as a percentage of household income has actually declined by 4 percentage points over the past half decade, noted Dr. Kent.</div>
<br><div class="separator"><img src="https://1.bp.blogspot.com/-ylZP5atiPzc/VX693VMvFDI/AAAAAAAAWIM/zo96JKlK40g/s400/RBA4.jpg" width="372" height="400"></div>
<div class="separator"> </div>
<div class="separator"><strong><span style="text-decoration: underline;">Part 3 - The supply side</span></strong></div>
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<div class="separator">As is typical, dwelling construction, being the most interest rate sensitive sector of the Australian economy, is responding strongly to easier monetary policy, with building approvals now at their highest level on record and dwelling investment up by 9 per cent over the past year.</div>
<div class="separator"> </div>
<div class="separator">This will likely put downward pressure on apartment rents and prices in some regions.</div>
<div class="separator"> </div>
<div> </div>
<div>However, one eminent challenge is that the supply of greenfield land in the Sydney region (inclusive of Newcastle and Wollongong) in particular, and also in south-east Queensland (Brisbane, Gold Coast, Sunshine Coast), has plummeted to extremely low levels, which is putting significant upwards pressure on land values.</div>
<div> </div>
<div>In Sydney the stock of suitable sites for apartments has been depleted too in recent years.<br><br>With a dearth of suitable sites to build either houses or apartments, the Reserve notes the risk of a material spike in dwelling prices caused by the inadequate supply.</div>
<div class="separator"><img src="https://4.bp.blogspot.com/-4HOM_XSDTV0/VX692otsOCI/AAAAAAAAWII/ktRH_sGI00Y/s400/RBA3.jpg" width="386" height="400"></div>
<div class="separator"> </div>
<div class="separator"><span>A parallel challenge is that with the residential construction industry pushing towards full capacity, this is likely to result in inflation of land and construction work, potentially "<em>pushing up the prices of new and existing dwellings, </em><span><em>via increases in land prices, construction wages, developers' margins or some combination of all three</em>"</span>.</span></div>
<div class="separator"> </div>
<div class="separator">While labour shortages have not bitten particularly hard to date despite some skills shortages arising, rising demand for building materials has already pushed the rate of inflation for new dwelling costs fully two points above its average for the inflation-targeting period (i.e. since 1993).</div>
<div class="separator"> </div>
<div class="separator">This is somewhat agitating since the residential construction boom is still in its infancy, relatively speaking.</div>
<div class="separator"> </div>
<div>Furthermore, alterations and additions (i.e. major renovations work) could easily pick up further, further accentuating materials shortages.</div>
<div class="separator"> </div>
<div class="separator"><strong><span style="text-decoration: underline;">The wrap</span></strong></div>
<div class="separator"> </div>
<div class="separator">Dr. Kent's speech concluded that consumption has picked up in Australia since 2013, and monetary policy is working as it should, to some extent.</div>
<div class="separator"> </div>
<div class="separator">However, many households are also electing to pay down their debts faster, and this is having some dampening effect on the strength of the consumption response experienced to date.</div>
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<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><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>
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RBA suggests squeezed land supply could spike prices: Pete Wargent

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<p>Australia's most expensive residential land market is the Richmond-Tweed region in New South Wales.</p>
<p>The latest HIA-CoreLogic RP Data Residential Land Report provided by the Housing Industry Association and CoreLogic RP Data, signals a growing divide between demand and available supply in vacant residential land.</p>
<p>“The number of residential land sales fell by 11.8% over the year to the December 2014 quarter,” said HIA chief economist, Harley Dale.</p>
<p>“In contrast, the weighted median residential land value increased by 2.8% in the December 2014 quarter to be up by 6.3% over the year.</p>
<p>“The increase in the weighted median value was driven primarily by Sydney, with significant growth also evident for Perth and Melbourne. As with all aspects of this housing cycle, there are wide divergences in land market conditions around the country – this is clearly evident across the six capital cities and 41 regional areas covered in the Residential Land Report.</p>
<p>“There is insufficient shovel-ready land in some markets and this is placing undue upward pressure on residential land values. Construction of detached houses looks to be peaking for the cycle, but there is unrealised demand out there because of that lack of readily available and affordable land."</p>
<p>According to CoreLogic RP Data research director, Tim Lawless, the number of vacant residential land sales has been trending lower since mid-2013 and concurrently, median land prices have been rising to new record highs.</p>
<p>“The opposing trends are a clear sign that demand is outweighing supply which is pushing land prices higher.</p>
<p>"Higher land prices ultimately lead to less affordable homes - it is the high cost of vacant land which significantly contributes to the increasing cost of housing.</p>
<p>"Ideally we should be seeing more land brought to the market and sold during this period of low borrowing costs.” </p>
<p><img src="/images/2015/04/21/hia-april-21-one.jpg" alt=""></p>
<p>Australia's least expensive land markets can be found in the South East region of South Australia, and the Mersey-Lyell and Southern regions of Tasmania.</p>
<p><img src="/images/2015/04/21/hia-april-21-two.jpg" alt=""></p>
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Australia's most expensive (and cheapest) regional land markets

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<p><span lang="EN-GB">The Royal Children’s Hospital secured $646,000 after Henley and Villawood Properties offered an auction property proceeds towards the hospital’s Good Friday Appeal.</span></p>
<p><span style="line-height: 1.3em;">The property property was at Villawood Properties’ Trillium community in Mickleham.</span></p>
<p><span style="line-height: 1.3em;">There was spirited bidding for the award winning Henley Sahara Belle Q1 home</span><span style="line-height: 1.3em;"> at the no reserve auction where all proceeds were donated to the hospital. <br>A range of suppliers, including Austral Bricks, Hisense, Deckable Decking, All Green Nursery all donated their services or materials towards the home.</span></p>
<p><span style="line-height: 1.3em;">Villawood Properties executive director Rory Costelloe said he was</span><span style="line-height: 1.3em;"> absolutely thrilled with the result.</span></p>
<p><span style="line-height: 1.3em;">"It’s the culmination of a great collective effort and to see the home bought by a lovely couple, who already live in one of our communities and are set to start their family makes it even more gratifying.” </span></p>
<p><span style="line-height: 1.3em;">The winning bidders were Sila and Martha Mataia, who are residents of another Villawood Properties community, Aspire in Plumpton.</span></p>
<p><span style="line-height: 1.3em;">They are awaiting the birth of their first child.</span></p>
<p><span style="line-height: 1.3em;">As in previous years, Villawood Properties donated a block of land with Henley building a brand new home.</span></p>
<p><span style="line-height: 1.3em;">Henley’s 22 </span><span style="line-height: 1.3em;">years of involvement with the Good Friday Appeal has seen around $12 million raised for The Royal Children’s hospital, <span>said Nicole Nightingale, Henley philanthropy manager</span>.</span></p>
<p><span style="line-height: 1.3em;">It was a four bedroom, three bathroom house set on a 448 square metre plot in Villawood Property's </span><a href="https://trillium.villawoodproperties.com.au/" target="_blank" style="line-height: 1.3em;">Trillium development at Mickleham</a><span style="line-height: 1.3em;">, in Melbourne's north.</span></p>
<p>The double storey house has five living areas and opens through timber stacking doors to an outdoor entertaining space with merbau decking.</p>
<p>The kitchen includes a walk-in butler's pantry and a 900mm cooktop, twin wall ovens and a built in coffee machine, as well as a dishwasher. It also includes Caesarstone benchtops, as do the bathrooms and en suite.</p>
<p><span style="line-height: 1.3em;">The home was marketed by Alex Kundevski and Troy Apostolopoulos of Oliver Hume. </span></p>
<p>The <a href="https://www.henley.com.au/new-home-collections/clendonvale/sahara-series/belle-q1" target="_blank">Sahara Belle Q1</a> house usually costs $297,900 (not including land). The Trillium development is located 32 kilometres north of the Melbourne CBD, just north of Craigieburn. Last year, <a href="/news/henley-and-villawood-team-up-again-for-good-friday-appeal-children-s-charity-house-auction-offering">Henley and Villawood raised $717,000</a> for the Good Friday Appeal when they auctioned off a house in the Aspire community in Plumpton. </p>
<p>This Easter marks the Good Friday Appeal's 85th year of contribution to the Royal Children's Hospital.</p>
<p>{qtube vid:=TJa72CWPayY}</p>
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Henley and Villawood combine again in Royal Children's Hospital Good Friday charity auction generosity 

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<p>All 50 lots at Breen Property’s Shearwater Landing have now sold in the stage one offerings.</p>
<p><span style="line-height: 1.3em;">The 44 hillside lots, ranging in size from 560 square metre to 1,109 square metre, were sold for between <span>$950,000 to $1.55 million.</span></span></p>
<p>All 50 available lots at Shearwater Landing, have now sold in stage one f<span style="line-height: 1.3em;">ollowing on from the success earlier this month when six auction lots sold ranging in prices from <a href="/expert-insights/building/beach-building-blocks-at-2-2-million-plus-sellout-at-shearwater-landing-greenhills-beach-auction">$2.2 million to $2.65 million</a> through </span><span style="line-height: 1.3em;">Nigel Napoli at Savills Residential Projects .</span></p>
<p><span style="line-height: 1.3em;">Nigel Napoli noted "not even the NSW State Election kept buyers away."</span></p>
<p><span style="line-height: 1.3em;">“Throughout the entire day there was a flow of couples and families, all eager to sign on the dotted line.” </span></p>
<p><span style="line-height: 1.3em;">Napoli added Savills had been working with clients since the initial pre-registration campaign in 2013</span></p>
<p><span style="line-height: 1.3em;">The next release of Shearwater Landing will be the auction of 12 ocean view lots in mid-May, followed by 14 hillside lots which will be sold via an expressions of interest campaign. </span></p>
<p><span style="line-height: 1.3em;">Shearwater Landing, Sydney’s newest beachside suburb, is a master-planned development with a total of 160 torrens title lots within a master-planned, landscaped residential precinct o</span><span style="line-height: 1.3em;">verlooking the Pacific at Greenhills Beach, some 30 to 40 minutes south of the Sydney CBD.</span></p>
<p><span style="line-height: 1.3em;"> </span></p>
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Latest Shearwater Landing land sellout at Greenhills Beach

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<p>A house in the Trillium Estate will be auctioned off for this year's Royal Children's Hospital Good Friday Appeal.</p>
<p>The Sahara Belle Q1 house by Henley Properties will be sold with all proceeds going <a href="https://www.gfacharityhouse.com.au/#charity-auction" target="_blank">towards the appeal</a>.</p>
<p>No reserve will be set at the auction of the four bedroom, three bathroom house. The home, set on a 448 square metre plot in Villawood Property's <a href="https://trillium.villawoodproperties.com.au/" target="_blank">Trillium development at Mickleham</a>, in Melbourne's north.</p>
<p>The double storey house has five living areas and opens through timber stacking doors to an outdoor entertaining space with merbau decking.</p>
<p>The kitchen includes a walk-in butler's pantry and a 900mm cooktop, twin wall ovens and a built in coffee machine, as well as a dishwasher. It also includes Caesarstone benchtops, as do the bathrooms and en suite.</p>
<p>There is timber flooring throughout some living areas, with carpeted bedrooms.</p>
<p>The house also includes ducted refrigerated air-conditioning and 5 star zoned heating.</p>
<p>It will be auctioned on Good Friday, 3 April at 2pm at 16 Melody Way, Mickleham. The home is being marketed by Alex Kundevski and Troy Apostolopoulos of Oliver Hume. It will be open for inspection from 5pm til 6pm on Wednesday 25 April.</p>
<p>The auction event will include appearances from Channel 7 personalities and a sausage sizzle hosted by the CFA. A range of suppliers, including Austral Bricks, Hisense, Deckable Decking, All Green Nursery all donated their services or materials towards the home.</p>
<p>The <a href="https://www.henley.com.au/new-home-collections/clendonvale/sahara-series/belle-q1" target="_blank">Sahara Belle Q1</a> house usually costs $297,900 (not including land). The Trillium development is located 32 kilometres north of the Melbourne CBD, just north of Craigieburn. Last year, <a href="/news/henley-and-villawood-team-up-again-for-good-friday-appeal-children-s-charity-house-auction-offering">Henley and Villawood raised $717,000</a> for the Good Friday Appeal when they auctioned off a house in the Aspire community in Plumpton. </p>
<p>This Easter marks the Good Friday Appeal's 85th year of contribution to the Royal Children's Hospital.</p>
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