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 

<section data-scroll-anchor="false" data-testid="conversation-turn-6" data-turn="assistant" data-turn-id="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-2" data-turn-id-container="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-2" dir="auto">
<section data-scroll-anchor="false" data-testid="conversation-turn-2" data-turn="assistant" data-turn-id="request-WEB:5a5ab36c-8dd3-454c-b456-c501f22f0eb4-0" data-turn-id-container="request-WEB:5a5ab36c-8dd3-454c-b456-c501f22f0eb4-0" dir="auto">
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

<html><body>
Rockbank North, a joint venture between Jayaland Corporation Victoria Investments &amp; Properties and Mirvac, will be the largest masterplanned community in Melbourne’s Western Growth Corridor. It is located between Melton and Caroline Springs.
The approved site in the Rockbank North Precinct Structure Plan is a major landholding of 711 hectares, 29 kilometres from Melbourne’s CBD. It was approved in June 2012 through amendment C120 to the Melton Planning Scheme.
On completion, it is expected to include 7,100 residential lots, three primary schools, a secondary school, health and education precinct, an indoor sports facility and open park spaces. It will also include a major and local town centre of 36,500 square metres and 5,700 square metres of floor area respectively.
<img src="/images/2014/09/08/rockbank02.jpg" alt="">
Property Observer understands that the total value of the project will exceed $2 billion when considering construction and civil activity, with some placing the figure as high as $4.5 billion.
It will be serviced by existing infrastructure including Rockbank train station, the Western Highway, Deer Park Bypass and Melton Freeway. The proposed Outer Metropolitan Ring Road would also benefit the new suburb.
Rockbank North will be provided an internal bus network linking the residents to the train station and main bus stop.
<img src="/images/2014/09/08/rockbank03.jpg" alt="">
The majority of housing will be conventional residential, with medium density residential around the local town centre. Much of the high density offerings will be near passive, unencumbered open space.
Previous Mirvac data, from a 2011 ASX release, suggested that 19,000 residents are expected to call new suburb home.
Mirvac managing director Nick Collishaw at the time noted that the acquisition was in line with their residential strategy, ensuring they stay “at the forefront of community development in Australia”.
Collshaw said that the region expected to deliver significant growth and become a pre-eminent masterplanned community.
The site will be announced by Minister for Planning Matthew Guy this Wednesday.
</body></html>

jduke-EHk3XBmHkn

Western Melbourne's largest masterplanned community to be launched this week

<html><body>
The first residential sites at Lateral Properties’ masterplanned community Peregian Breeze, on the Sunshine Coast, have been launched.
Home sites from 375 square metres to 795 square metres priced from $190,000 to $280,000 are available in this first stage of <a href="https://www.peregianbreeze.com.au%20" target="_blank">Peregian Breeze</a>.
Lot 9, for instance, is a level $195,000 block of 375 square metres of 12.5 metres wide aiming itself at first home buyers or downsizers.
Associate director of residential at Colliers International, Clinton Tezise, said that strong interest has been seen from locals.
“Land on the northern end of the Sunshine Coast has been limited in terms of choice and the location of this development is proving very attractive to the market,” said Tezise.
“The location and value for money proposition has attracted a range of buyers, from the first home owners and downsizers to young families looking to expand and build their dream home.”
There will be 399 lots at the site, which is bounded by Noose National Park and is 1.5 kilometres from the beach, he said.
This stage includes a central neighbourhood park, playground, picnic and fitness facilities, while a childcare and local convenience centre are proposed for the area with the stages to be connected by walkways and bike tracks.
“We will be working with a range of leading builders to provide a selection of house and land packages for the development, but the buyers can also choose their own builder and design to suit their individual requirements,” said Tezise.
</body></html>

Peregian Breeze masterplanned community on the Sunshine Coast launched

<html><body>
Newland have launched two more stages of their masterplanned development Seabreeze, in New South Wales' Pottsville.
The latest stages, 15 and 16, have officially been launched after a sell out of the preceding stages. This will bring 24 new lots across the 97 hectare estate.
The 38 home sites range from 495 square metres to 900 square metres. Prices range from $240,000 to $330,000.
In total, there will be 600 homes in the development, located at Pottsville-Mooball Road, as well as parks and sports fields.
Around 500 homes have already been built on the estate, and general manager for Newland Developers, Stuart Campbell, said that it would meet the demand they’re seeing in the area.
“We are currently progressing with final planning and anticipate civil works will commence on both stages in coming months, subject to weather constraints,” said Campbell.
“Each land release has been really well-received and as a result, the estate is now home to over 1,000 people across 14 residential stages,” he said.
General manager for marketing agent Oliver Hume Jillian Sheridan said that it’s likely to appeal to the owner occupier market, in particular younger first home buyers.
“We anticipate Stage 15 and 16 will answer current demand for affordable, new coastal property located close to both the Gold Coast and Tweed Coast regions,” said Sheridan.
“We are beginning to see the property market shift, and buyers are currently able to take advantage of historically low interest rates,” she said.
</body></html>

Two new stages launched at Newland’s Pottsville estate

<html><body>
Low priced land has a lot of people talking and in Victoria there are a few blocks available on the cheap.
Land prices in Melbourne’s city-fringe housing estates <a href="/expert-insights/building/outer-melbourne-land-tracking-at-four-year-lows-oliver-hume">continue to hover at around four-year lows, according to Oliver Hume</a>.
However, how far away do you need to get from the capital to secure blocks at prices as ludicrously low as $2 per square metre?
<a target="_blank" href="">Lot 7</a>, as well as<a href="https://www.realestate.com.au/property-residential+land-vic-netherby-200831835" target="_blank"> Lot 17</a> (pictured below), on Netherby Baker Road, Netherby are both on the market for $11,500 each.
The listing notes that the land is rural residential in the <a href="/news">Netherby </a>township, “which boasts a pub” and is 20 minutes from larger town <a href="/news">Nhill</a>. It is an hour from the city of <a href="/news">Horsham</a>, and 20 minutes from Victoria’s largest recreational lake – Lake Hindmarsh.
Netherby is 405 kilometres north west of Melbourne.
They are each listed as being approximately 1,011 square metres.
This works out at approximately $11 per square metre.
<a href="https://www.realestate.com.au/property-residential+land-vic-netherby-200831107/"><img src="/images/2014/08/29/netherby%20uag%2029%20one.jpg" alt=""></a>
 
<img src="/images/2014/08/29/netherby%20uag%2029%20two.jpg" alt="">
Another 1,011 square metre block at <a href="https://www.realestate.com.au/property-residential+land-vic-kaniva-200629727" target="_blank">12 Moore Street, Kaniva</a> (pictured below) is up for sale for $13,500. It has electricity, water and sewerage adjacent to the block and faces the Native Botanical Reserve.
<a href="/news">Kaniva </a>is 415 kilometres north-west of Melbourne.
It works out at around $13 per square metre.
<img src="/images/2014/08/29/kaniva%20aug%2029%20one.jpg" alt="">
For $13,500, the 836 square metre block at <a href="https://www.realestate.com.au/property-residential+land-vic-dimboola-200937795" target="_blank">59a Anderson Street, Dimboola</a> (pictuyred below) is available for purchase.
It is noted as being ready to be built on with all services available, apart from gas.
<a href="/news">Dimboola</a>, in the Shire of Hindmarsh, is 335 kilometres north-west of Melbourne.
This works out at approximately $16 per square metre.
<img src="/images/2014/08/29/dimboola%20aug%2029%20one.jpg" alt="">
<a href="https://www.naracoortefn.com.au/buy-residential-real-estate/vacant-land-coleraine-edenhope-road-harrow-vic-14813100109" target="_blank">A block in Harrow</a>, for $14,000, on Coleraine-Edenhope Road (pictured below) was up for sale noting that power was passing by the block.
At 6,457 square metres, the block estimates out at about $2 per square metre.
<a href="/news">Harrow</a> is 390 kilometres north west of Melbourne.
<img src="/images/2014/08/29/harrow%20aug%2029%20one.jpg" alt="">
</body></html>

Can you really buy land in Victoria for $2 per square metre?

<html><body>
Five years ago when Melbourne land supply was at its most constricted, there were some 90 housing estates selling land on Melbourne's outskirts. Now there are around 140. 
Land prices in Melbourne’s city-fringe housing estates continue to hover at around four-year lows, according to <a href="https://www.oliverhume.com.au/" target="_blank">Oliver Hume</a>.
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2014/08/29/hume-aug-29-breakout.jpg" alt="">
And are likely to stay that way as the Victorian state government ramps up new land releases, as Victoria’s population grows by around 2,000 people per week.
Oliver Hume research director Andrew Perkins forecasts lots released will peak above 200,000 for the first time this year.
In three years, that figure is set to treble.
Melbourne’s house and land market typically settles about 12,500 to 13,000 dwellings a year. 
<div class="page" title="Page 2">
<div class="section">
<div class="layoutArea">
<div class="column">
Most developers appear to be more accepting of volume over price growth – over the short-term at least, Oliver Hume suggests.
There has been some price growth on some projects in some municipalities, their recent report noted.
<div class="page" title="Page 3">
<div class="layoutArea">
<div class="column">
The Q1, 2014 median land purchase price for the first home buyer sat at $192,000 - largely in line with the long-term trend.
"With much discussion to date focusing on the median land price, it is worth noting that the Melbourne growth area gross median land price is still around 16% below its 2010 peak," Perkins said.
Melton, Mitchell and Whittlesea are around 20% down on their peak (falls of between $36,000 - $49,000). Cardinia is surprisingly only 4% down on its peak. 
<div class="page" title="Page 4">
<div class="section">
<div class="layoutArea">
<div class="column">
The time on market index continues to fall. In the December quarter 2012 it took 6.7 months to sell a lot, now it takes around 3.5 months. 
Taking account of withdrawn, completed and launched projects, the fully-developed yield at the end of the quarter was just over 125,600 lots across 136 projects (down from its peak of around 145 in mid 2013). 
Some 22% of all projects are located in Whittlesea, 19% in Wyndham and 18% in Casey. On a suburb basis, 11 projects are in Doreen and 10 in Pakenham. Mernda rounds out the top three with nine. 
The gross median land price is $201,000, or $191,000 net after rebates. After rebates, Wyndham remains the most expensive land market at $214,500. 
Casey, with a net median land price of $207,500, is the second most expensive growth-area land market. Casey and Wyndham are only land markets with a net median price above $200,000. 
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</body></html>

jchancellor-FAypfDUnLy

Outer Melbourne land tracking at four-year lows: Oliver Hume

<html><body>
The Melbourne-based developer Villawood has secured another south-east Queensland development site.
It is a 233-hectare site with approval for 150 plus rural-residential lots at Kingsholme in the Gold Coast hinterland.
Lots will be typically 5,000 square metres.
The sixth acquisition by Villawood over the past year is close to the 86-hectare Gold Coast Country Club in Helensvale which Villawood acquired earlier this month.
The Helensvale site has potential for 1,200 dwellings. 
Established by Rory Costelloe in Bendigo in 1989, the private developer turns over between $200 million and $250 million a year, securing about $23 million in pre-tax profits, according to a recent Australian Financial Review article.
The developer has an active and future land bank of over 19,000 lots.
Villawood Properties’ co-executive director Tony Johnson said that the site in Kingsholme was an opportunity the company "couldn’t pass up."
<div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
“This stunning property is elevated, meaning our buyers will benefit from incredible views to the Gold Coast, Stradbroke Island and the Hinterland, making it one of the most enviable locations in this region.
“Located half way between Brisbane and the Gold Coast, makes this land very appealing to those who want the best of both worlds – to work in the Brisbane CBD, but still be able to come home and be close to the beach on the Gold Coast," he said.
There are six schools all within a seven kilometre radius of the site and the Ormeau Train Station is two kilometres away.
Works are expected to commence in mid-2015. 
</div>
</div>
</div>
</body></html>

Villawood buys another south-east Queensland development site

<html><body>
Sydney’s south-west site The Hermitage’s latest land release Gabriel’s Run has secured a sell out of the land lots in their Gledswood Hills release.
More than 650 registrations of interest were received for the launch, said Sekisui House sales and customer relations manager for <a href="https://www.thehermitagesydney.com.au" target="_blank">The Hermitage</a>, Craig Barnes.
“Sekisui House has and continues to experience an unprecedented demand for land at The Hermitage which is showing no signs of slowing,” said Barnes.
He said that each release consistently received between 300 and 500 registrations of interest.
In this latest release, lots ranged from 476 square metres to 760 square metres, priced from $285,000 to $385,000.
Barnes said that the next land release is expected later in the year.
At present, The Hermitage includes the largest display village in Sydney’s south-west, HomeWorld. Over 700 lots have sold since its March 2012 launch.
Including Gabriel’s Run there are another three precincts – Hardy’s Rise, Chisholm’s Corner and Donohue’s View.
</body></html>

Gabriel’s Run, Gledswood Hills latest release secures weekend sell out

<html><body>
Planning policy changes have allowed 2,500 Western Sydney home sites to be instantly brought online, according to Minister for Planning Pru Goward.
Yesterday, Property Observer wrote that <a href="/expert-insights/building/numerous-sydney-areas-rezoned-to-allow-for-higher-density-developments">multi-storey residential towers are expected to be built in many parts of Sydney as numerous areas undergo a rezoning</a>. Community pushback to development applications are likely.
The changes to the Growth Centres State Environmental Planning Policy are expected to bring greater diversity, affordability and meet the needs of the growing population in the area, said Goward.
“The changes mean a Western Sydney home buyer will have more choice of home type, and may also save up to 10% on the cost of their new home,” she said.
“The NSW government has accelerated the release of land to keep up with demand, and now we are providing more choices and allowing for more affordable options for Western Sydney families.”
The amendment allows smaller lot sizes, and medium density builds, that Goward believes will keep house and land packages under $400,000.
Growth Centres will now face the same planning controls, as well as a faster subdivision and home building approval process.
The changes will permit townhouse and villa-style housing, detached homes on a number of lot sizes, detached dwellings on small lots in medium density zones and studio dwellings to be strata subdivided from the main house so they can be sold as a separate dwelling.
Standardised minimum lot sizes, new approval pathways, standards for subdivision and house design and more opportunities to use the 10 day approval process for new homes on smaller lots have also been introduced.
“New suburbs in Western Sydney are expected to be home to half a million people over the next 25 years so it’s crucial for us to get the planning right now,” Goward said.
“This good future planning is supported by the NSW government’s record investment in transport infrastructure servicing these areas through the North West and South West Rail Links and work to complete Sydney’s motorway network.”  
</body></html>

Planning changes instantly unlocks 2,500 Western Sydney homes

<html><body>
Folkestone has entered joint ventures with ID_Land to develop two new residential communities in Melbourne’s suburbs.
The listed real estate funds manager and developer acquired a call option over eight hectares of land in south-east Melbourne in a 50-50 joint venture with ID_Land, a developer that specialises in land subdivision and medium density projects.
The purchase was made on deferred terms and development planning will start immediately.
The land is diagonally opposite the 236 lot Potters Grove residential sub-division at Officer in Melbourne’s south-east growth corridor. Folkestone is developing Potters Grove in a 50-50 joint venture with ID_Land. Around 69% of that estate has settled or is under contract.
The new subdivision at <a href="/news">Officer</a> is expected to have an end value of around $30 million.
Folkestone also announced last week that a newly established Folkestone fund will work in partnership with ID_Land on a project in Melbourne’s western growth corridor.
The Folkestone Truganina Development Fund acquired an 80% interest in a 52.5 hectare residential master planned community in Truganina, 20 kilometres west of Melbourne’s CBD for $18.25 million.
ID_Land holds the remaining 20% of the land and will manage the project’s delivery.
The development will include 680 residential lots and a 3.1 hectare town centre.
A masterplan for the site, which sets out the layout of roads, housing, employment, infrastructure and amenities, is awaiting approval by the Metropolitan Planning Authority and the Victorian Minister for Planning.
The fund will seek investors after the masterplan’s approval. Folkestone will retain 20% of the fund.
This is the company’s third development fund and its first residential land subdivision development fund. 
</body></html>

zfielding-GvX3Uq9KTa

Folkestone joins forces with developer for two residential communities in Melbourne's south-east

<html><body>
Riva Vue, a masterplanned development in New South Wales’ Murwillumbah has reduced the price of 15 of the elevated blocks in the estate.
The 24.5 hectare estate includes new residential land located off Barnby Street. Within states one and two, there were 15 sloping view blocks with a range of degrees of site-fall that have views over the Rous River and out to Mount Warning. They have been reduced in price.
The blocks range from 683 square metres to 1,420 square metres and are ranged in price from $120,000 to $160,000.
General manager for Newland Developers, Stuart Campbell, said that they are trying to move existing stock to begin new stages that are planned.
“They are speciality view blocks, providing the perfect base to build a large, elevated designer home – each of which can be architecturally designed to showcase the magnificent tree-scape backdrop on offer at Riva Vue.”
“Our decision to reduce the price of these premium view lots is to appeal specifically to both builders and home buyers that understand the potential and value of building on elevated blocks.”
Meanwhile, Oliver Hume general manager Jilliam Sheridan said that buyers could choose a builder with a speciality in elevated home construction.
“We have seen interest come from local-based home designers, especially those with an architectural flair for creating a unique home that maximises the property’s idyllic outlook and positioning,” Sheridan said.
“This really is the sale of all sales and is a unique opportunity for buyers, who are able to take advantage of current pricing and secure one of the last remaining view blocks available in Riva Vue at reduced prices, to build their dream home.”
</body></html>

House And Land

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

House And Land

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News