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>

Joel Robinson

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

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

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

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

Bottega House secures landmark riverfront site in St Lucia 

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

SIERA kicks off construction at Northcliffe tower Exhale

Local Little Bay residents, along with buyers from premium postcodes across Sydney’s affluent Eastern Suburbs, have dominated purchases in developer-builder Urban Property Group’s first Eastern Suburbs apartment development, <a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a>.

The $250 million coastal project, one of the first new developments in the area in several years, has proven particularly popular with downsizers, especially those from Coogee and Bondi. One Double Bay downsizer paid $4.7 million for a four-bedroom penthouse, setting a new local apartment price record in the process.

Buyers have been attracted to the combination of coastal tranquillity, premium design and amenity-rich neighbourhood living. The walkable village setting, along with proximity to three of Sydney’s leading golf courses, New South Wales Golf Club, St Michael’s Golf Club and The Coast Golf Club, has also been a key drawcard.

[smartcode_project:default project_id=112343 project_image_fid=352689]

Built across two low-rise buildings designed by <a href="https://www.apartments.com.au/architects/hill-thalis-architecture-urban-projects-pty-ltd">Hill Thalis</a> and set along a lush, landscaped green spine, designed by leading landscape architect <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>, ESTE Little Bay offers a collection of one, two, three and four-bedroom residences with interiors by Richards Stanisich.

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> Sales Director, Tom McIvor said the response to ESTE has been "nothing short of extraordinary."

“Buyers have been quick to recognise ESTE as a rare opportunity to invest in a coastal sanctuary that offers both seclusion and connectivity to the heart of Sydney,” McIvor said.

[smartcode_project:default project_id=112343 project_image_fid=352687]

<a href="https://www.apartments.com.au/project-marketer/srm-residential">SRM Residential</a> Senior Director, <a href="https://www.apartments.com.au/project-marketer/srm-residential">Clayton Ross</a> said the local market has responded incredibly well, driven by ESTE’s exceptional location and the rarity it offers.

“We’ve seen strong interest from a variety of buyer groups, all of whom are drawn to the exclusivity and quality of the build and construction by the 4.5-star iCIRT-rated builder / developer, Urban Property Group. There’s truly nothing else like it along Sydney’s coastline.”

[smartcode_project:default project_id=112343 project_image_fid=352690]

The project also includes robust buyer protections, including Resilience Insurance’s Latent Defects Insurance, providing 10 years of structural cover, and an independent iCIRT-rating of the developer.

“The iCIRT-rating adds another layer of confidence,” Ross added. “Buyers see it as a safeguard for their investment and their lifestyle.” A highlight of ESTE’s offering is its exclusive wellness amenities, including a heated rooftop infinity pool and outdoor heated spa, a state-of-the-art Technogym fitness centre, and a sauna.

<a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a> is topped out and is on track to complete towards the end of 2026, with residents moving in before Christmas.

[smartcode_project_cta:default project_id=112343]

Eastern Suburbs buyers snap up ESTE Little Bay apartments

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Melbourne and Coffs Harbour are approaching the peak of market cycle though there are none at the peak position, according to valuation firm Herron Todd White's industrial property clock for May.
There's none in the 'starting to decline' category as well, although competition is hot in the rising market position, with Sydney also a rising market. 
The others in this category are Hobart, Ballarat, Bendigo, Burnie, Devonport, Echuca, Gold Coast, Launceston, Lismore and Sunshine Coast. 
There are no changes to the clock as well in terms of positions. Two capital cities, Adelaide and Darwin, are at the bottom of the cycle with Perth approaching the bottom of the market as well. 
 
<a href="https://www.propertyobserver.com.au/images/2017/05/19/Screen%20Shot%202017-05-19%20at%2011.10.35%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/19/Screen%20Shot%202017-05-19%20at%2011.10.35%20AM.png" alt="">
Two other capital cities, Brisbane and Canberra, are at the start of the market recovery period, the clock shows. Others in recovery mode are Cairns, NSW Central Coast, Horsham, Mildura, Rockhampton and Tamworth.
While Coffs Harbour may be approaching the peak of the industrial market cycle, the rental market remains price sensitive with a broad range of rents being achieved which confirms the uncertainty in the market, say HTW. There remains a slight oversupply of smaller industrial bays in the lower price bracket and valuations of poorly leased property will invariably be lower than those with vacant possession for this owner-occupier dominated market. This is not the case for larger properties where investors are active and the strength of leases is vital to yield and value levels. 
There has been a low sale offering of large industrial property in 2017 and subsequently low volume of transactions. Available sales indicate firm yields, echoing the low interest rate climate. There is some development activity within the prime estates, with most purpose built to end user requirements. Land prices in Coffs Harbour should continue to trend upwards as supply diminishes, say HTW. 
So far in 2017, the industrial market in Melbourne has been tracking well, with a “noticeable increase in values” over the previous 12 months, according to HTW. The market has been assisted by continually low interest rates, low rental levels which continue to be stable and an increasing demand for smaller warehouse units. 
The industrial property market is expected to be fairly positive throughout 2017, says HTW, provided there is no oversupply or external shocks to the market.
 
 
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jonathanchancellor-7SQnKwU6yx

Melbourne, Coffs Harbour approaching peak of industrial market cycle: HTW May clock

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The eastern suburbs have continued to define the meaning of a hot, hot, hot property market, according to Herron Todd White’s recent report.
The property valuation firm says that although the east has been hot across the board.
It considers the $2 million to $3 million price bracket for houses and $1 million to $1.5 million price bracket for units to be the strongest price points in the current market.
Paddington has been a stand out suburb for houses with a 2016 median price of $2.125 million which is up 21.4% from 2015 (source: PriceFinder).
Paddington is a highly regarded suburb close to Sydney’s CBD and comprises mainly period style terrace homes.
"The high performing Paddington market has recently been driven by high quality renovations of terrace style housing which is popular with the owner-occupier market, mainly professional couples and small families.
An example of such a property is <a href="https://www.realestate.com.au/sold/property-house-nsw-paddington-124757578" target="_blank">2 Olive Street</a>, Paddington (above) which sold in March 2017 for $2.46 million.
"This property is a typical Paddington terrace comprising 3-bedroom and 1-bathroom accommodation with no car accommodation and is situated on 101 square metres of land," the report stated.
The home at 2 Olive Street is classified as being architect-redesigned and features a high quality renovation, exactly what the market demands, resulting in a very strong sale price.
"With Paddington being such a highly desirable location and having a limited supply of stock, we expect to see recent strong sales prices sustained and predict continued strong growth in the short to medium term," the report commented.
Within the eastern suburbs unit market, the suburb of Coogee has been a stand out performer, especially in the $1 million to $1.5 million price bracket.
The 2016 median price for Coogee units was $1,037,500 which is up 17.9% from 2015 (source: PriceFinder).
"As an example of what this median unit price will get you, 7/3-7 Kidman Street, Coogee recently sold for $1.125 million.
"This property was a near original 1970s unit comprising 2-bedrooms and 1-bathroom with a 1-car lock-up garage and features restricted ocean views.
"This market is driven by both investors and owner-occupiers which comprise a mixture of singles, couples and down-sizers.
"The desirable beachside location has always been a main driver for the Coogee unit market and with limited new unit development in the area, we expect to see the trend of strong growth continue into the future," the report stated.
The prestige market in the eastern suburbs is continuing to see strong sale results.
"As expected, the main drivers of this prestige market are blue-ribbon suburbs close to the city within popular lifestyle neighbourhoods, close proximity to private schools and with view corridors of the ocean or Sydney Harbour.
"Demand is still extremely strong for high quality renovated homes and units with cashed up and time poor buyers ready to move on the right property, without wanting to do the hard work themselves," the report suggested.
A recent example is 84 Paddington Street, Paddington which recently sold in March 2017 for $7.1 million.
This property comprises a 5-bedroom, 3-bathroom Victorian terrace with parking for three vehicles and situated on 191 square metres of land.
The property was previously sold on 6 March 2013 for $2.8 million prior to renovation.
"This continued strong demand and limited supply of prestige property will keep prices strong in the short to medium term."
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j.ballantyne1990-6AQqhLzZaK

Sydney's hot eastern suburbs residential market: HTW

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The south east of Queensland has received good but patchy rain with parts having received up to 100 millimetres recently, according to Herron Todd White’s latest report.
The property valuation firm says that the band of rain has extended as far west as St George and Roma however these areas have only seen grass rain and not the high volume harvesting rain that so many had hoped for.
“Most irrigators in the St George region appear to have come up about one watering short, even on reduced plantings.
"It will therefore be interesting to see what effect this will have on yields.
"Picking is now underway, so all have their fingers crossed that it will stay dry for the next couple of weeks or so in order to allow picking to be completed,” the report stated.
It noted recent months have seen some very solid sales particularly within the Condamine region.
"Three that spring to mind that we feel are consistent with the market are the holdings of No. 4 approximately 75 kilometres to the west of Condamine and the aggregation of Woodlands and Karreel, approximately 40 kilometres south west of Condamine.
"Both comprise mixed farming and grazing holdings with the cultivation on each reflecting in the order of $2,200 to $2,250 per hectare.
"We would view this as broadly consistent with the market today; a market that has seen sound to good quality cultivation strengthen by upwards of $500 per hectare over the past 12 to 18 months,” the report commented.
HTW has also noted the mid to late 2016 sale of Cotswold in the same region.
It sold for $14.1 million including approximately $500,000 worth of plant.
It comprises 7,410 hectares of country including some 640 hectares of centre pivot country underpinned by a 1,600 megalitre storage.
Water rights include two unsupplemented entitlements as well as overland flow.
The sale reflected approximately $6,175 per hectare for the irrigation country and around $1,750 per hectare for the dryland cultivation.
This sale is also viewed to be broadly consistent with the market,” the report stated.
In very recent times, market activity appears to have come right off HTW says.
“We anticipate that this is not because the market is lacking confidence, rather it is more to do with a poor start to the season broadly felt by everyone.
"We feel that many potential vendors are holding off until more favourable weather conditions arrive.
"The cattle market is still strong and it will only take a couple of good falls within the farming belt in the next month or two in order for things to turn around,” the report commented.
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South East Queensland rural property sales begin to improve: HTW

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The Illawarra residential market prices continue to grow strong, according to Herron Todd White’s recent report.
The property valuation firm says that various factors such as low interest rates, employment and decreasing affordability in Sydney are creating strong demand for the area.
“There has been strong growth in the Illawarra residential market for a number of years in all locations and property types.
The market is particularly driven by what is happening in Sydney.
There is a flow on effect from Sydney to Wollongong to the Shoalhaven.
Low interest rates, stable employment, improving infrastructure and decreasing affordability in Sydney all combine to create strong demand for residential property at all price levels.
There are a number of factors that could cause the market to change.
These include interest rate hikes, an over supply of new properties, an economic downturn in the region or a crash in the Sydney market.
Interest rates are currently at record lows and it appears that both owner occupiers and investors are willing to borrow more and more to fund transactions.
Any interest rate hike may cause investors in particular to hold off buying property until it becomes apparent that interest rates are not going to keep increasing.
Without as many investors in the market, demand will be lower and competition between buyers will be reduced,” the report stated.
Wollongong in particular is in the middle of a construction boom, especially in unit developments according to Herron Todd White.
“Wollongong is in the midst of a construction boom.
In particular new unit developments are at an all time high and the supply of new units are at unprecedented levels.
In addition there are many new land developments of varying sizes with the majority in West Dapto, Calderwood, Shell Cove and South Nowra.
As long as the supply is being met by strong demand the market will continue to be strong.
However all this new supply may exaggerate any downturn in the market if developers cannot offload their new stock,” the report advised.
Herron Todd White says that Illawarra’s economic situation is tied with its property market and therefore influences it.
“The Illawarra property market is strongly linked to the economic fortunes of the region.
The region continues to diversify from its mining and steel roots and has enjoyed good growth in medical and aged care and tourism sectors.
That said, market confidence is still derived from the steel and mining sectors.
Major downturns in these sectors could result in a downturn in the property markets.
With the region being more and more accessible to Sydney through improved infrastructure, the link between the Sydney and Illawarra property markets is closer than ever.
It is likely that the events that would cause a slow down in the Sydney market would also impact the Illawarra and if Sydney buyers were removed from the Illawarra market demand for property would be reduced,” the report stated.
A three bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-figtree-125477566" target="_blank">9 Mark Street</a>, Figtree (above) has been listed for between $699,000 to $768,900.
Similarly a two bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-woonona-125478226" target="_blank">45 Hillcrest Avenue</a>, Woonona (below) has been listed for $600,000.
<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/2017/05/16/45%20Hillcrest%20Avenue.jpg" alt="">
A two bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-north+wollongong-125324826" target="_blank">1/4 Pleasant Avenue</a>, North Wollongong (below) was recently sold for $570,000.
<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/2017/05/16/1_4%20Pleasant%20Avenue.jpg" alt="">
Similarly a four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-horsley-125281798" target="_blank">21 Norman Clark Crescent</a>, Horsley (below) was recently sold for $955,000.
<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/2017/05/16/21%20Norman%20Clark%20Crescent.jpg" alt="">
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Illawarra residential market continues to grow strong: HTW

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Sydney's St George area is continuing in its strong growth, according to a recent Herron Todd White (HTW) report.
The property valuation firm says that the St George area is continuing its strong growth period with the hottest price points for houses generally being $1 million to $2 million and $660,000 to $700,000 for units.
For houses, the suburb of Oatley has been a very strong performer, having a 2016 median house price of $1.602 million, up 14.5% from 2015, according to PriceFinder.
"This strong growth in Oatley is mainly driven by locality, with its village-like feel and well positioned homes on comparatively large blocks of land, many with good water views," the report stated.
"An example of a typical Oatley sale within this strong price point is 3 Gungah Bay Road (above) which sold on 04 January 2017 for $1.7 million.
"This property comprised a dated but well maintained, two storey, 5-bedroom, 4-bathroom residence with double garage on 765 square metres of land."
Oatley is also within close proximity of Hurstville which provides a high level of amenities and good public transport infrastructure.
The main buyer profiles within the suburb are owner-occupiers, predominantly families, with minimal investor demand.
“With Oatley being relatively affordable compared to some surrounding suburbs and strong owner-occupier demand, we expect to see sustained and continued growth in this market," the report said.
"In generalising the St George area, we recognize that there is still strong demand for the fixer upper, however there is a growing trend towards completed contemporary dwellings.
"Buyers are currently prepared to pay a premium for the privilege of being the first to occupy a residence and will part with their hard earned when they know they are getting the very latest inclusions and high quality finishes."
Generally these houses will provide good levels of accommodation (four to six bedrooms), home automation, high quality finishes and appliances and multi vehicle garaging (four to six cars).
The strongest results for this style of property are being found in the $2.5 million to $5 million range.
This is mainly being driven by overseas buyers, expats and locally based professionals.
"There could be a softening in this end of the market depending on interest rates, lending policies and exchange rates and overseas market conditions," the report advised.
"However this is seen as unlikely in the short to medium term.
"When analysing the unit market, Brighton Le Sands gets a notable mention as a strong performer with a 2016 median unit price of $680,500, up 4.7% from 2015.
"In a running theme, location has been the main driver of this market being within close proximity of the beach, an increasingly popular restaurant and café scene and good bus services.
"With many 1970s, walk-up style unit complexes within the suburb, it attracts investors and owner-occupiers alike."
A recent sale of a typical unit was 10/32-34 Queens Road (above) which sold in February 2017 for $675,000.
This was a mainly original 1970s unit with two bedrooms, one bathroom and one car garage, located on the top floor.
"Potential for new transport links and hubs within the vicinity of Brighton Le Sands is expected to drive strong growth in the short to medium term," the report advised.
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St George and Oatley residential market strength continues to grow: HTW

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In the past 12 months, $61 million worth of commercial scale Northern Territory freehold has sold - a strong increase on 2015, according to a recent Herron Todd White (HTW) report.
The property valuation firm says that despite the uptick in sales, water allocation and soils rights in the area are very tight.
“We are aware that Indian Sandalwood growers Quintis (formerly TFS) and also local African mahogany growers are finding it difficult to secure any expansion land that fits the bill,” the report stated.
“This tight supply has potential NT farmers (including foreign buyers) looking at pastoral leasehold land and its potential for landing a diversification permit to develop farm land.
“With improving profits from record live cattle export prices, local cattlemen have also been more active in acquiring smaller freehold (depot type) blocks.”
Sales included <a href="https://www.realcommercial.com.au/property-commercial+farming-nt-douglas+daly-501718973" target="_blank">Early Storms</a> (above) a well established, 629 hectare melon farm in the Douglas Daly (200 kilometres by road south of Darwin).
It made $9,765 per irrigated hectare over 279 hectares with 7.7 megalitres per hectare per annum ground water allocation.
<a href="https://www.realestate.com.au/sold/property-mixed+farming-nt-katherine-7821686" target="_blank">Phoenix Park</a> (below), on the outskirts of Katherine, was a strategic acquisition by a subsidiary of Hancock as a cattle spelling, feeding and processing facility for the company’s expanding herd in the NT.
<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/2017/04/26/Phoenix%20Park.jpg" alt="">
This property last sold in 2008 for $5.8 million with relatively little improvement in between. It comprises a mix of irrigation land (plus land for irrigation expansion), dry land cropping and a spelling yard registered for 20,000 head of 350 kilogram cattle.
Two Rivers, a 14,120 hectare freehold with Stuart Highway frontage, was sold for $2.4 million to a southern family to develop as a live cattle export depot.
HTW said that in the past 12 months, there has more mango plantations sales throughout the Top End than in the past five combined.
Five commercial scale mango farms sold to locals or Australian based companies with long term experience in the NT.
Value rates are steady, generally between $20,000 to $30,000 per planted hectare for mature, old variety trees, with a premium for Calypso at around $40,000 plus per planted hectare.
The Oolloo Farms aggregation of four farms in Darwin, Katherine and Mataranka, sold for around $18 million.
However, HTW noted that the sale included an onerous lease in place to the sitting tenant for a net return of about 8%.
Northern Territory rural purchasers were concerned with long-term goals, according to Herron Todd White’s December 2016 report.
It noted the first Month in Review for 2016 stated that the year was shaping up to be another active year on the pastoral sales front in the Northern Territory and Kimberley.
"It’s fair to say that the year has not disappointed,” the HTW report stated.
"A lot of the interest has come from the big end of town, both overseas and Australian purchasers.
"Many of these purchasers appear to be more concerned with positioning themselves in terms of long term food security than short term price movements.
"However, they are also no doubt benefiting from buoyant live export prices at present.
"Despite the volume of sales this year, there are still parts of the Territory which have not been sold."
Of special interest is Kalala, 3,760 square kilometres at Daly Waters and Mount McMinn, 809 square kilometres, both being actively marketed at present.
At the time of writing these had not sold but we understand that they have both attracted good interest.
The NT government has recently announced a $4.1 million upgrade of the Berrimah Export Yards (the major marshalling point for live cattle exports).
The upgrade will involve construction of two shelters which will accommodate up to 4,000 head of cattle and assist in the year-round processing of cattle.
It has also been an active year for horticultural properties, especially mango plantations. Larger scale plantations such as Pine Creek Mango Plantation and Jabiru Tropical Orchards have sold.
A major Calypso plantation aggregation at Mataranka, Katherine and Berry Springs is also being marketed.
“For our local office, the highlight of the year was definitely the review of the unimproved capital values for the pastoral estate across the Northern Territory, which we carried out on behalf of the Territory Government.
"This project involved re-assessment of the unimproved carrying capacity of every pastoral lease in the Territory on an individual basis, then assessing their unimproved capital values based on this information.
"It was a big undertaking that required us to call in a variety of expert opinions to assist in providing consistency of approach across a variety of country types from Alice Springs to the Top End,” the report stated.
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NT rural market heats up with $61 million of sales: HTW

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NSW's Griffith residential market is approaching its peak, according to Herron Todd White’s April report.
The property valuation firm says that values have increased over the past six to nine months.
“The Griffith residential property market appears to be approaching the peak of the market.
"Values have been increasing in most market segments over the past six to nine months largely due to a shortage of stock relative to demand.
"The fear of missing out is pushing more affordable brackets ($250,000 to $350,000) well above expectations.
"The rise in the market is not limited to entry and middle market segments with buyers in the upper end of the market also showing a strong appetite producing strong results,” the report stated.
Low interest rates, shortage of land and optimism is driving the market at the present moment.
“So what is driving the market at present?
"A combination of things, including low interest rates, a shortage of land and the biggest factor being the optimism in the local agricultural sector and its impact on employment and investment.
"So what is likely to slow it down?
"The cost of money rising (interest rates), employment instability, the release of more land and the inability of the economy to retain its confidence,” the report warned.
A two bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-griffith-125329774" target="_blank">14B Grimison Avenue</a>, Griffith (above) has been listed for $249,000.
Similarly a three bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-griffith-125255310" target="_blank">62 Madden Drive</a>, Griffith (below) has been listed for $349,000.
The block of land was sold in 2015 for $95,000 with the house built in 2016.
<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/2017/05/16/62%20Madden%20Drive.jpg" alt="">
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-griffith-125166842" target="_blank">6 Evanside Parade</a>, Griffith (below) was recently sold for $300,000.
It was last sold in 2012 for $252,000.
<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/2017/05/16/6%20Evanside%20Parade.jpg" alt="">
Similarly a four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-griffith-125074086" target="_blank">72 Bromfield Street</a>, Griffith (below) was recently sold in April this year for $300,000.
It was last sold in 2008 for $282,500 and in 1996 for $147,000.
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Griffith's residential market approaching its peak: HTW

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The current state of Melbourne's Outer South Eastern market would currently be described as slowly strengthening, according to Herron Todd White’s latest May report.
The property valuation firm says that interest in suburbs such as Clyde, Officer and Pakenham are increasing.
“With continued population growth, current low interest rates as well as readily available land, residents are looking to newly developing suburbs such as Clyde, Officer and Pakenham for the relatively affordable land or established homes.
“This is especially true for first home buyers and young families who are looking for a dwelling as opposed to a smaller inner city apartment or townhouse with limited backyard.
“This area is described as a growth corridor, with prices for new residential land noticeably increasing over the past 12 months as detailed in the below graph,” the report stated.
<a href="https://www.propertyobserver.com.au/images/2017/05/19/Screen%20Shot%202017-05-19%20at%209.55.20%20am.jpg" target="_blank">Click to enlarge</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/2017/05/19/Screen%20Shot%202017-05-19%20at%209.55.20%20am.jpg" alt="">
Herron Todd White says that investments in public transports, shops and major roads are also increasing the popularity of the area.
“With the government’s commitment to infrastructure and investment in the region including public transport, shopping precincts and major roads, the popularity of the area is expected to continue.
“The main factor that could potentially have an effect on property prices within this region would be interest rates.
“Being that the area is made up of young families and first home buyers, a rise in interest rates may discourage buyers from getting into the property market which could slow the rise in property demand and as such have an impact on property prices.
“However with continued growth in our population, demand for property within the region is expected to remain, with performance expected to be slow but steady,” the report commented.
A four bedroom house at <a href="https://www.realestate.com.au/property-house-vic-clyde+north-125507274" target="_blank">23 Frankland Street</a>, Clyde North (above) has been listed for between $680,000 to $740,000.
Similarly a three bedroom house at <a href="https://www.realestate.com.au/property-house-vic-clyde+north-125505346" target="_blank">12 Montevideo Lane</a>, Clyde North (below) has been listed for between $440,000 to $460,000.
<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/2017/05/19/12%20Montevideo%20Lane.jpg" alt="">
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-clyde+north-125326378" target="_blank">3 Nokota Lane</a>, Clyde North (below) was recently sold for $440,000.
<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/2017/05/19/3%20Nokota%20Lane.jpg" alt="">
Similarly a four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-clyde+north-125261662" target="_blank">3 Glenelg Street</a>, Clyde North (below) was recently sold in April for $525,421.
<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/2017/05/19/3%20Glenelg%20Street.jpg" alt="">
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Melbourne's Outer South East residential market is beginning to strengthen: HTW

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The Coffs Harbour residential market is going through one of its strongest times, according to Herron Todd White’s recent report.
The property valuation firm says that demand for residential properties in Coffs Harbour is exceeding supply shortening selling periods and increasing values.
“The Coffs Coast is experiencing one of its strongest markets in recent times with demand exceeding supply in many areas which has resulted in shortened selling periods and substantial increases in values.
"Typically it is the affordable price point in the sub $550,000 market which has seen the strongest demand from both owner occupiers and investors, however market confidence has spread through all sectors of the market including rural residential which has seen a recent resurgence in demand,” the report stated.
Factors such as low cost of finance, population and limited stock is driving this growth in the area according to Herron Todd White.
“There are several factors driving the market including low cost of finance, increasing population due to lifestyle benefits for both retirees and families moving from southern regions, infrastructure upgrades in the form of the Pacific Highway, limited available stock for vacant land and diversity of housing product ranging from coastal to rural communities with good access to regional facilities provided at Coffs Harbour.
"To a lesser degree investors are being driven towards SMSF property investment and with the ALP pushing for restrictions on negative gearing, this may be driving investors to enter the market prior to possible changes to tax benefits.
"A major factor in the cooling of the market will be rising interest rates which will dampen long term consumer confidence, however continued population growth should see demand remain strong against the current limited supply.
"Wage growth is also an issue.
"With the exception of the public sector, wage growth and employment are not rising at the same rate as property prices.
"This will affect the affordability of property within regional localities which has traditionally been a major factor in deciding to relocate to regional New South Wales,” the report advised.
A two bedroom villa at <a href="https://www.realestate.com.au/property-villa-nsw-coffs+harbour-125308906" target="_blank">2/12 Pitt Street</a>, Coffs Harbour (above) has been listed for $332,000.
Similarly a three bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-moonee+beach-125217646" target="_blank">10A Moonee Creek Drive</a>, Moonee Beach (below) has been listed for $515,000.
<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/2017/05/16/10A%20Moonee%20Creek%20Drive.jpg" alt="">
A two bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-coffs+harbour-125325914" target="_blank">29 Masonary Road</a>, Coffs Harbour (below) was recently sold for $340,000.
<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/2017/05/16/29%20Masonary%20Road.jpg" alt="">
Similarly a two bedroom villa at <a href="https://www.realestate.com.au/sold/property-villa-nsw-sawtell-125256346" target="_blank">2/49 Eighteenth Avenue</a>, Sawtell (below) was recently sold for $365,000.
<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/2017/05/16/2_49%20Eighteenth%20Avenue.jpg" alt="">
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Coffs Harbour residential market the strongest in recent times: HTW

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2016 was a bumper year for the retail investment market on the Gold Coast and early indicators suggest that 2017 should hold its form as well, according to Herron Todd White’s recent report.
The property valuation firm says that retail is currently the strongest of the commercial asset classes on the Gold Coast, following the national trend of being a highly sought after investment for private individuals, SMSFs and syndicates.
However this high demand and reluctance of owners to sell is resulting in a very limited availability of stock and a reduced volume of sales.
"The result is that the yield gap between primary and secondary properties is narrowing," the report stated.
Some notable sales in 2016 include:
• Reedy Creek Shopping Centre, anchored by Woolworths, 5.8 percent;
• Moo Moos Steakhouse, a strata retail restaurant at Broadbeach, 6.2 percent;
• 7/11 and McDonalds at Palm Beach, 6 percent; and
• Norfolk Village Shopping Centre (no anchor tenant), 6.9 percent.
This demonstrates that an array of different property types including strata, freehold, national and local (albeit well established) operators are all achieving prices within 110 basis points of each other.
“In terms of looking at the year ahead, we often reference the Ray White January 2017 auction event which is one of the largest commercial auctions of the year.
Nine of the 23 properties sold on or before the auction, with active bidding on all but three of the properties.
All in all, a good indicator that market sentiment remains strong,” the report stated.
But with such a strong head of steam, it is important for investors to critically analyse what they are looking for in an investment, be it capital growth, a steady income stream or the opportunity to value add.
"With yield levels and interest rates at historic lows, further yield compression would appear unlikely.
In fact as the gap between primary and secondary property narrows, the risk of a correction increases for the latter.
A steady income stream is clearly an outcome any investor would be trying to achieve," the report advised.
But the reality is that consumer sentiment can be volatile and property owners are still prone to tenant businesses having periods of good and bad trading.
Securing a property with national tenants will be the best way to decrease this volatility, but it will come at a price.
"As we move into 2017 it will be important for investors to differentiate properties with a higher number of local businesses; this higher risk profile should command a higher investment return.
Value adding is an investment strategy reserved for the more entrepreneurial property owners out there.
The opportunities do not come up often and when they do are commonly disguised as a pretty average investment.
The benefits can be twofold if embarking on such a project - the prospect of increasing rental potential whilst attracting a firmer investment yield on completion to compound capital growth.
Patience and a level head will be keys to success in 2017," the report suggested.
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