The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Joel Robinson

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

Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

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

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

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

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
</section>
</section>

[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

House And Land

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David Devine’s Metro Property Development has secured a former school site at Evanston in Gawler, 44 kilometres north of Adelaide, for $2.5 million.
The <a href="https://www.metroprop.com.au/communities/acacia-green-evanston/" target="_blank">Arcadia Green development</a> is an 81-lot subdivision that has an end value of $27 million, with marketing currently under way.
The properties are eligible for the SA Affordable Homes Program.
The regional location is best known for McLeod's Daughters, which was filmed on a property just outside Gawler's northern fringe.
Steve Weightman, director of Metro’s South Australian operations, says another site under contract is in Adelaide’s southern suburbs.
Metro Property Development, founded in 2010 in Brisbane, now has housing ventures in Melbourne, Perth and ­Sydney.
Metro, which entered the Adelaide market two years ago, is ranked the fifth-biggest home building in the state on the latest HIA Top 100 builders list.
Its Adelaide house and land packages started from $400,000, rising up to $600,000 for homes closer to the CBD.
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jchancellor-FAypfDUnLy

David Devine's Metro Property expands Adelaide presence

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Lots, terraces and new homes will be available to purchase at the Argyle masterplanned community in Elderslie on Saturday.
Investa Land and AVJennings are developing the project, which they predict will house about 1,500 people upon completion. The Australian Bureau of Statistics recorded 4,252 residents in Elderslie in 2011.
Alan Soutar, executive general manager at AVJennings, said the available properties include completed homes and terraces, house and land packages from preferred builders and home sites. Prices begin at $257,000.
"We've already had a number of expressions of interest for houses and land at Argyle from a range of purchasers including first and second home buyers, and young families," said Soutar.
According to Cameron Holt, chief executive of Investa Land, Argyle residents will benefit from the upcoming South West Rail link, which is currently under construction.
"They can also enjoy over three and a half hectares of open space and public parks through the development, ideal for family and friends to enjoy," said Holt.
<a href="/news">Elderslie</a> is around an hour's drive south west of Sydney's CBD.
<img src="/images/2014/11/07/elderslie-nov-7-one.jpg" alt="">
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jrichardson-uRX5hFdKfN

Masterplanned community in Elderslie, NSW launches tomorrow

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Stockland has launched a $640 million masterplanned community in the Wyndham growth corridor, 31 kilometres west of Melbourne.
Marketing for The Grove begins 17 November for what will be the first of 2,500 new homes in Tarneit.
The first residents in the 234-hectare community are expected in the second half of 2016. 
The Grove will offer completed homes, house and land packages along with medium density housing.
There will be 54 hectares of parkland on a site bordered by the Werribee River and Davis Creek.
Residents will have easy access to the city via the Werribee train line and the new Regional Rail Link, which is due to open in April next year.
The announcement came a day after Stockland revealed its best residential sales quarter in four years.
Its results were buoyed by improved profits from its residential business which achieved a 12.5% increase in lot sales and ended the year with a record number of contracts in hand. 
The new community at The Grove will include a 3.8-hectare town centre with a neighbourhood shopping centre. 
Stockland will build a retirement village and will set aside land for new primary and secondary schools.
The Wyndham Local Government Area is one of the fastest growing corridors in Australia. In the year to June 2013, the population of the Wyndham corridor increased by around 10,800 people, representing a 6% growth rate.
Stockland general manager residential for Victoria, Mike Davis, said Stockland was well known to most people in the area because of the Allura residential community at Truganina, Point Cook Town Centre and Tarneit Skies Retirement Village.
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Stockland launch The Grove in Melbourne's growth corridor

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When you’re listing a residential property, there’s usually plenty to run with.
A beautiful front façade image in the dim light with all the porch lights on? Gorgeous.
An outdoors verandah near the pool where you can place a, debatably effective, bottle of wine? It has been done.
But what do the experts opt for when it’s just a simple block of land? We decided to have a look.
This first offering – <a href="https://www.realestate.com.au/property-lifestyle-nsw-inverell-7687479" target="_blank">Monatana in New South Wales’ Inverell</a> – is a series of blocks offered through Landmark Harcourts. They’ve done a great job at the opening photo (below), with an evocative picture of a boat on the river, and use their gallery to show off the features of the land blocks. Dams, scrub and even a tent feature in the images.
<img src="/images/2014/10/27/inverell%20oct%2027.jpg" alt="">
Meanwhile, Spencer Woods Real Estate – Northcote are advertising <a href="https://www.realestate.com.au/property-estate-vic-wallan-200739767" target="_blank">the last three blocks of land in a Wallan estate</a>. They include just one picture – of generic grass (below).
The land, priced from $105,000 to $115,000 for over 500 square metre offerings, can also be bought together but advertise themselves to first home buyers.
<img src="/images/2014/10/27/wallan%20oct%2027%20one.jpg" alt="">
Wilson Property RCI – Traralgon, <a href="https://www.realestate.com.au/property-estate-vic-traralgon-200442679%20" target="_blank">now selling stage five</a>, has another approach. Providing an overhead image of the lots available (below), and the masterplans and all associated information, it appears they’re aiming for detail rather than evoking the dream.
<img src="/images/2014/10/27/traralgon%20oct%2027%20one.jpg" alt="">
Some of the “cheapest land” in South Australia’s Terowie – at $3,500 for a 1,000 square metre block – <a href="https://www.realestate.com.au/property-residential+land-sa-terowie-201003947%20%20" target="_blank">is up for sale</a>. The images share a somewhat drying looking block (below), but also provide a shot of the plan and aerial imagery.
<a href="https://www.realestate.com.au/property-residential+land-sa-terowie-201003947"><img src="/images/2014/10/27/terowie%20oct%2027%20one.jpg" alt=""></a>  
Other common ways to advertise land or land releases include an image of the sign of the development, a map of the masterplan, or a generic stock photo of a family either on play equipment, at a café or at the park.
{mijopolls 58}
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jduke-EHk3XBmHkn

The best way to advertise blocks of land: Poll

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The 65 acre, 820-lot masterplanned development Habitat on Davis Creek will launch this weekend.
Located in the western Melbourne suburb of Tarneit, the development will feature 14 hectares of open space.
Habitat on Davis Creek will be the <a href="/expert-insights/buying/satterley-property-group-launches-two-new-developments-in-melbourne-s-west">second residential development launched this month from Satterley Property Group</a> in Melbourne’s west, following Upper Point Cook’s release three weeks ago where 35 lots sold within the first three hours of launching.
Habitat on Davis Creek will launch on Sunday 26 October with house and land packages available from $300,000, to upwards of $450,000. The sale is on a first come first served basis, with 38 lots to be released.
Satterley’s Victorian general manager said that the development provides affordable housing and will be at the forefront of the Riverdale Precinct Structure Plan, including a proposed Riverdale town centre, future train station, school and local town centre.
“The precinct plan outlines the vision and delivery of new infrastructure and how Tarneit will support the expected population increase of 25,000 new residents over the next 20 years,” he said.
“The proposed new suburb or Riverdale will see 12,000 new homes, as well as a raft of new infrastructure projects, such as a transit-ready major town centre, sporting facilities, more than twenty neighbourhood parks, three primary schools, and a secondary school injected into the area.”
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Masterplanned development in Tarneit, Melbourne to launch this weekend

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Work has started on a master planned residential community at Elderslie in Sydney’s south-western rural outskirts.
The 24-hectare Argyle project, which is near Camden, is a collaboration between land developer AVJennings and Investa Land.
Argyle will have 500 lots and is expected to house 1,500 people. The development is close to shopping areas, established schools and public transport. It is aimed at first and second home buyers.
According to RP Data, the median house price for Elderslie is $335,000. It has remained the same for several years.
The project will significantly boost the population of the area, which was at 2,647 people in 2006. 
As part of the Argyle development the Oxley Rivulet will be restored and more than 3.5 hectares will be open space. 
 
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andreadixon-oif3j7eKne

Argyle, Elderslie master planned community underway

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Any time someone in my family buys property, I know about it. Property fever is in the air regularly in my extended family – I have cousins who are real estate agents, many of them invest, and a few of them have also recently become first home buyers themselves. I am no stranger to the excitement that buying property causes.
Even my parents are in on the action. They are currently in the process of designing plans for a newly purchased block midway between Canberra and New South Wales. It’s a 10 plus hectare land plot that I visited with them on a road trip when back on my last trip back to Sydney, and I absolutely fell head over heels for it.
They’ve bought into the second stage of a rural subdivision and have picked a block that’s conveniently bare save for a few distinctive boulders and trees, largely flat and has a creek running through one end. It has views all the way over the little town that it is adjacent to. Their home plans are also impressive – with a beautiful verandah, a huge kitchen and walk in pantry, energy efficiency measures and an entertainment wing with a sunken snooker table and cinematic-style projector room. It’s essentially their dream home – the property they’ve been planning for years that saw them selling out of Sydney’s north west and hunting for their final nest.
The effect that seeing this had on me was fairly immediate. My initial reaction was to want to know everything about the property and the process. The settlement was painfully slow, and I wanted to know why. Later, they found the land being used for agistment by local farmers, and I listened in on the hilarious attempts of my parents to move cows from their plot so they could wander around. Daily, I’m told plans that they have for it, the tiny changes to the kitchen plan, and intricate discussions about the Kitchen Work Triangle and building chicken coops.
And then, somewhere in the process, I decided I wanted the block next door.
For most people, this is going to sound odd – don’t most of us move out, have our own lives, and endeavour to live as far away from our parents (and in laws) as possible?
But you should see this land.
For the sake of my parents’ privacy I won’t share the address, but it’s stunning. It’s no secret that regional areas hold a huge charm for me, and I was easily taken. While the block doesn’t have the enviable views of my parents’ selection – it’s over the road and down the hill somewhat from their next home – it has a brick bridge for train tracks that runs through it with an infrequent train service (and some freight) over a creek. It’s spacious, and I had basically already chosen where I’d have the house built and where I’d be putting my barbecue before I'd left.
My partner and I have been preparing and slowly saving away for our next property; we have been undecided as to whether it should be an investment or a home in Melbourne given our relocation. This block is just in the range of what we can afford, provided lending doesn’t become an issue in the area, and I called my mother to chat it over.
<blockquote>
We have been preparing and slowly saving for our next property; but have been undecided as to whether it should be an investment or a home in Melbourne.
</blockquote>
We figured that I could buy it for our retirement, and build on it when prepared to live rurally in the distant future. Quickly, I was calling it “my block” (don’t you love how easily that happens?) and checking out my lender of choice's repayment calculator, doing my own sums. My Dad, a bullish property investor – although we rarely agree on locations or what to buy – told me that if I wanted then I could put solar panels onto it, and have some of it grazed by the farmers to provide some form of an income. Obviously, there are some tax implications to this that I’d need to consider, but it was starting to shape up to something worth considering and that could actually work.
See over page for why I decided to steer clear of purchasing
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But then the dawn of realisation occurred.
The day I retire and do my own “tree change” is some decades into the future. I would be laying down no small sum, taking on a large amount of debt, for an asset that doesn’t produce any real rental income. I then wouldn’t be using it for a long time, and the repayments would put a toll on my ability to save and pay down other more immediate debt. With the funds that I’d be using to purchase something that I dearly wanted, and was starting to daydream about, I might actually be stopping myself from achieving more by being wiser with my purchases. Unless you’re one of the lucky few with bottomless bank accounts, then you’re going to need to be careful with your money.
My ability to stomach risk now is likely higher than it will be in 30 or so years. If I choose a property that underperforms, I can weather it through. What is less likely to work, however, is if I tie up all my capital and push myself to full capacity with debt that stops me from investing further in growth assets. Not to mention that my partner doesn’t necessarily want the same things in retirement that I do (that is, to live within walking distance of my family and not within easy driving distance of anything resembling civilisation).
There are also the other considerations – one being that the area will substantially change by the time I come to live there, meaning it might not be the rural haven I'm after when it comes to retiring, or that my own goals and desires to live like this will also alter.
Or I might need to sell up due to a change in my own financial circumstances. This is just one of many regional areas that moves very slowly. Days on market are extensive for the very few properties that come to market each year, not to mention for that particular type of comparatively large landholding. While my investing ‘profile’ suggests that I can handle more risk – this risk of tying up my capital in a very slow moving asset is certainly not the type of risk I am prepared to deal with.
For this reason, my future tree change location is a dream that I’m putting on hold. It’s the pain of the opportunity cost, and risking better more targeted purchases, that I cannot stomach. Not everyone will make this decision – to choose their head over their heart – but it’s the advice that we’re frequently hearing and considering these implications now will hopefully pay off in the future.
It’s amazing how closely linked our heart strings and our purse strings are. Sure, it might ‘feel right’, but I’m getting increasingly used to having to rein in my desire to purchase something – when you write about property every day you inevitably stumble across stunning cheap “renovator’s dreams” and cheapie Tasmanian heritage homes that you’ve already mentally decided to buy, where the dogs would sleep, what colour you’d paint the walls and so on. These “five unusual NSW renovation opportunities” that I put together in May, for instance, had me hooked for a while. Church conversion? I can see myself in that. Old warehouse requiring substantial work and potential sweat/blood/tears? No problem. 
There's nothing wrong with thinking like that, but there may be an issue with acting on it without due care.
If you’re like me, you might get caught up in the dream of property a bit (a lot), but you need to give yourself that ‘step back’ breathing room where you do a bit of a logic test on your decisions. Just because you love it, doesn’t mean that you should buy it. This isn't a pair of shoes, or a fancy meal, this is an often decades-long financial commitment. If you're looking to invest, it's not about your emotions, or even about your instinct a lot of the time. It's about the cold, hard facts and numbers. And, no matter how much you’ve researched it, no matter how close you are to signing on the dotted line, if it’s not right for you – you can look for something else.
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There's nothing wrong with thinking like that, but there may be an issue with acting on it without due care.
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I’m still learning this lesson, but the fact is that my parents have taken this time, lived in undesirable areas and earned their dream home – both through long careers that they’re still building and through many other years of paying off a mortgage and planning for this. I have a few more stripes yet to earn before I can do the same, so it's back to the drawing board.
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Letter from the editor: Opportunity cost is one of the biggest risks

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Following the sell-out of the first stage of Appin Valley in Wollondilly Shire, Walker Corporation have submitted plans to council hoping to release more land in early 2015.
The first stage of Appin Valley, which sold out in less than a year from its release in 2013, offered 336 lots.
The next stage, an extension across Macquariedale Road and Gordon Lewis Reserve, will include 280 homes and a 55 hectare conservation reserve, as well as upgrades of local ovals, barbecue facilities, cycle paths and the restoration of the Inn.
This release will see lots ranging up to 1,100 square metres.
Director of masterplanned communities for Walker Corporation, Chad Walker, said that the sales success has been a result of the location and affordable generous-sized lots, making it compelling for home buyers.
"In particular we had a lot of interest from first time buyers who were attracted to the prospect of owning a brand new home within this historic region while remaining close to major cities such as Campelltown, just 15 minutes drive away,” he said.
“We’ve also seen strong interest from empty nesters looking to move to a more manageable sized lot and young families looking to build their dream home.”
Of the lots, 70% were over 700 square metres, and lots ranged from $180,000 and $315,000.
Partnering with Walker Corporation was Adenbrook Homes and managing director of the home builder, Daniel Galea, said that their most popular design had been the Baywood, which comes in 28 square metre or 31 square metre designs.
“The home is perfect for families. It comprises of three separate living spaces, an outdoor alfresco area, four bedrooms and a double garage. Currently we have eight homes under construction at Appin Valley with 15 more under contract,” he said.
Currently, the final civil construction is underway with an October completion expectation. Over 40 homes are under construction at present.
 
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Walker Corporation’s next Appin Valley release slated for 2015

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The first residents have moved in to the masterplanned Wallis Creek community, developed by Walker Corporation.
The new residential community’s residents are a “major milestone”, said Walker Corporation director of masterplanned communities Chad Walker.
“Wallis Creek will deliver an exceptional new community for the Lower Hunter region, and we are pleased that home buyers now have an opportunity to touch, see and experience what their smart modern Wallis Creek home could look like at the display village,” he said.
The display village at <a href="https://www.walliscreek.com.au" target="_blank">Wallis Creek</a>, which opened the first display homes in early-July, will showcase 10 homes from six builders, including Eden Brae Homes and Oracle Property Group.
“Eden Brae and Oracle have finished three beautiful new homes and we will soon welcome new homes from more builders to the Wallis Creek Display Village,” he said.
Upon completion, a total of 406 dwellings will be built over the 56 hectare site. It will include landscaped areas, walking paths, playgrounds, a community centre and there is also a proposed school. The community will be connected to the NBN.
Prices range from $159,000 to $194,000, spanning 450 square metres to 783 square metres.
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First residents move in to Walker Corporation’s masterplanned Wallis Creek

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When you are developing property, finding actual comparable sales references in the same market that you will build is extremely important. 
You need to estimate what your dwellings will be worth on completion of your project.
You can find sales references on most of the real estate websites in the 'sold' area. You can also order sales reports from Residex or RP Data and various other providers which are more accurate.  
House and land packages are advertised readily.  If you are building near or within a land release estate then you are bound to come across them.  
I'm often asked if a house and land package price can be used as a sales reference for a finished home. The answer is no.
A house and land package, of course contains two components; land and construction costs. When you purchase a house and land package from a builder/developer, you do not pay the entire cost upfront. The builder or developer would have secured the land and you will usually pay for the land directly.  So the registered sale price associated with that lot will be what you paid for the land and not the entire price of the package.
Financing for a house and land package usually consists of two steps: a loan for the land then a construction loan.  
The loans for land and build costs can be arranged separately, but may also be bundled together.
As part of your due diligence on a house and land package, you must carefully check the inclusions and exclusions of the builder's contract.  Commonly, some site works are NOT included and you may need to add these to the price you've been quoted. Typically retaining walls can be excluded, importing or exporting of soil to prepare the site may be excluded or listed as a 'provisional cost'. This means an allowance has been made but if it costs more, a variation will be raised. If it costs less than the allowance, then you may get a credit (which is always nice).
Be wary of 'turnkey packages'.   A turnkey package should include everything so that you can move right in or sell or lease the property as completed including carpet, blinds, landscaping, driveways, letterbox and all fittings and fixtures. 
A  quick search in one of the suburbs Property Bloom develops in comes up with this advertisement:
Headline:  "FIXED PRICE TURN KEY PACKAGE!!  Fixed price package gives peace of mind with no hidden extras."
Below the headline was a computer generated image of a house.  Then following this was a disclaimer:
DISCLAIMER All facades, floor plans, dimensions and illustrations are indicative only. The finishes and inclusions nominated are to be used as a guide only and purchaser is advised to refer to the land contract and builders contract for accurate dimensions, specifications and inclusions. We reserve the right to alter the plans
What you are getting for you money or the exact house and land package will be detailed in the sales contract and builder's contract. It's imperative that you review this in detail to understand the inclusions and more importantly, the exclusions.
A house and land package can be advertised at a low price point to attract attention. Whilst you can use it as an indication as the builder/developer is basically saying this is the actual cost of a house in this suburb, it is by no means indicating the actual cost or value. 
If it's a good location, you can expect that the value may be higher. Always budget for a higher cost to cover excluded items and any upgrades or changes you'd like to make.
A house and land package price is not a sales reference, however it can be looked at as a lower estimate of the end value. In a good location and in a good market, if a sale occurs of a completed house and land package, that the vendor would be seeking a higher price than what it cost them to build.
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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