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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We are witnessing one of the strongest growth periods that Newcastle has ever experienced, across all price points with blue chip property auction properties having multiple competing bidders, according to HTW's February 2017 update.
The valuation firm says this peak in the market has been a constant over the past 24 months now and with current low supply levels, it sees no early signs of flattening for the early part of 2017.
With substantial infrastructure development, the changing image of a manufacturing town is creating a diverse town offering inner city university, various businesses, ample residential unit development and tourism, the report says.
A few major urban renewal projects either nearing completion or set in stone for the near future are: the new court house, Newcastle Uni development, Hunter Street mall revitalisation and light rail system to open up the harbour and the CBD.
The NSW government also introduced a new public transport system in December 2016, linking bus, ferry and light rail systems.
“Affordable housing is being sought in all suburbs that still have a minimal commute to town,” HTW says.
“Cameron Park, Fletcher, Maryland and West Wallsend are providing newly built residences within 30 minutes’ drive of Newcastle CBD, with current median prices ranging between $520,000 and $700,000.
A four bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-fletcher-124441722" target="_blank">6 Weller Street</a>, Fletcher (above) has been listed for sale for between $660,000 to $720,000.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-cameron+park-123885198" target="_blank">16 Devonshire Street</a>, Cameron Park (below) has been listed for between $500,000 to $550,000.
<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/2017/02/14/16%20Devonshire%20Street.jpg" alt="">
Port Stephens is a enjoying sustained growth and increasing returns after many years of negative growth and over representation of mortgagee in possession sales.  
This area is now experiencing low supply levels for vacant land in particular, with more families looking to relocate for the lifestyle this area offers.
“We expect this growth to continue into 2017 however given this area is heavily reliant on tourism, should the bubble burst, there is higher volatility in such markets.,” says HTW.
HTW says it hasn’t seen any signs of improvement in the mining town of Singleton that will change its commentary in the short term for 2017.
“Mines significantly scaled back investment in 2014 cutting jobs and costs, which trickled through to the entire economy in and around the town,” it said.
“There are a number of mines that have reopened or are planning expansion, with employment opportunities re-appearing.
“However this industry has not recovered and will take well into 2017 before a stronger economy is reflected in house prices.”
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jonathanchancellor-7SQnKwU6yx

Newcastle in one of strongest property price growth periods ever: HTW

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Strong buyer competition looks set to continue to drive prices up in the Illawarra through the early part of the year, according to HTW's February 2017 update.
The valuation firm says the major factors that may slow down the market could be interest rate rises along with tighter lending regulations.
Until these factors come to light, it predicts that the Illawarra residential property market will continue to perform strongly.
"Strong growth commenced in Wollongong in mid-2013 and each Christmas break has failed to dampen the market, with the new year often starting as strong, if not stronger," HTW says.
Demand for stock and sale price increases flowed down the coast to the Shoalhaven which also saw substantial growth in 2016.
“There is good demand across all price points and locations from basic cheapie $300,000 dwellings in Sanctuary Point through to prestige properties in the Northern Illawarra beach suburbs and Hyams Beach,” the report states.
2017 will continue to see the marketing or construction of a number of large unit complexes in the Wollongong CBD including Parq on Flinders Street (221 units), Signature on Regent Street (125 units) and Crown Wollongong (317 units) among others.
“There have been concerns voiced over off-the-plan unit sales in capital city CBDs recently by the major banks and whilst Wollongong doesn’t have the same scale, the CBD has had a massive influx of unit supply in the past four years,” HTW cautioned.
“Any shift in the property market could severely impact these projects with off-the-plan sales stalling and settlement risk increasing.”
Construction of the Berry Bypass will continue through 2017 and into 2018 with new passages of road being released when completed. This work is decreasing the travel time between Nowra and Wollongong making the distance between the two locations more convenient.
“As work progresses it is expected that the property markets will be more closely correlated in the future and Wollongong investors and owner occupiers who are seeking affordability will head to the Shoalhaven in larger numbers with Wollongong median prices continuing to increase,” says the report.
For the median price of $792,000 a house such as the one at <a href="https://www.realestate.com.au/sold/property-house-nsw-wollongong-122488026" target="_blank">127 Kembla Street</a>, Wollongong (above) can be purchased for $800,000.
For $525,000 a unit such as the one at <a href="https://www.realestate.com.au/property-unit-nsw-wollongong-124545186" target="_blank">25/26-28 Market Street</a>, Wollongong (below) can be purchased for between $520,000 to $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/2017/02/14/25_26-28%20Market%20Street.jpg" alt="">
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Strong competition to keep pushing Illawarra prices higher: HTW

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The Goulburn Mulwaree Shire has seen strong sales activity over the course of 2016 with a lift in average price for the calendar year to $502,000 (13%) on 16% less number of sales (991 properties), according to HTW's February 2017 update.
The valuation firm says that buyers from Canberra, Illawarra and investors from Sydney have been prevalent over the past 12 months with this trend expected to continue.
“The rural / lifestyle property market has seen an uptick in sales activity together with the resurgence in rural property sales driven by increases in cattle and sheep prices,” says HTW.
There have been land sales in the new and modern residential estates in Goulburn, including the Belmore Estate, Merino Country Estate and the Mistful Park Estate, where there continues to be strong construction activity of new homes.
The market in the smaller villages through the region such as Crookwell, Taralga and Gunning is expected to remain steady over the next year.
“The rental market in Goulburn has remained steady and agents are reporting good interest from tenants at present, with the trend following the strengthening in prices to return gross yields in the order of 5%,” the report says.
A four bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-goulburn-124494006" target="_blank">3 Oakwood Avenue</a>, Goulburn (above) is available for purchase for $510,000.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-goulburn-124382870" target="_blank">41 William Street</a>, Goulburn (below) was sold recently for $500,000.
<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/2017/02/14/41%20William%20Street.jpg" alt="">
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Goulburn residential estates attracting Sydney investors: HTW

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The Central Coast property market heated up during 2016, but opinions differ on what lies ahead for the region, according to HTW's February 2017 update.
The valuation firm says it thought the Christmas break might provide the time to take a breath and regroup, but not so.
Instead, the market just took up where it left off and it’s just as busy.
“For a while now, we have been talking of the end of another cycle in property when we can again see the market slow, prices come back a little before stabilising and picking up again,” the report says.
“That’s how it has always been, but not so or not yet anyway.
“Local real estate agents are divided on where we are heading with some seeing a continuation of the hot market, others cannot see it lasting much longer and a few (a lot actually) are saying that the only thing they are certain about is that they don’t know!
“For our part, the market just seems to keep rolling with each new reporting period throwing us a few surprises as to what’s moving and by how much.”
HTW says the signs are that the market will continue to grow while buyers looking to expand their portfolios are being squeezed out of the Sydney market and are finding that property prices on the Central Coast remain reasonable.
Older houses under the stewardship of new owners are being renovated, modified and extended.
These areas include the peninsula suburbs of Narara, Niagara Park and Wyoming.
In previous years Umina Beach, Woy Woy and Ettalong Beach have been the focus of attention and continue to be so, but a little less overall such is the pricing now within these suburbs.
“We think of popularity and activity radiating out from a central point and this could well be the year for areas at the northern end of the region,” HTW says.
“As suburbs go through their cycles and buyers look to get in early on the next big thing, we are thinking (once again) that Budgewoi, Buff Point, Lake Munmorah, Gwandalan and Summerland Point may become popular. 
“Always sure to draw an opinion is the Gosford City Centre.
“The developers are back in town with numerous projects completed during 2016 and more under construction."
For $445,000 a house such as the one at <a href="https://www.realestate.com.au/property-house-nsw-budgewoi-124500926" target="_blank">206 Scenic Drive</a>, Budgewoi (above) is available for $429,000.
Sales rates are proving the unit market is popular once again.
“Commencements seem to be well managed meaning that the potential for a glut of units on the market simultaneously should be avoided.
“Even more encouraging is the quality of the new projects under way with higher standards the norm.”
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Will the good times last for the Central Coast?

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There is an atmosphere of cautious optimism across the Southern Highlands, according to HTW's February 2017 update.
The valuation firm says that buoyed by an 18% increase in average prices to $892,000 for the year to December 2016, the townships of Moss Vale, Bowral and Mittagong have been stand out performers, with access to infrastructure and price point being the main drivers of that growth.
Local real estate agents have been saying that sales activity has been brisk in the face of stock shortage, the report states. 
“This has been borne out with a 24% decrease in the numbers of sales year on year to 1,600 properties. It is fair to say the rental market is tight with lack of stock driving rent increases of minimum 10% over the past 12 months.”
For the median price of $549,000 a house such as the one at <a href="https://www.realestate.com.au/property-house-nsw-moss+vale-124566046" target="_blank">45 Hoskins Street</a>, Moss Vale (above) is purchasable for between $525,000 to $575,000.
Similarly a unit such as the one at <a href="https://www.realestate.com.au/property-unit-nsw-moss+vale-124428450" target="_blank">1/8 Arthur Street</a>, Moss Vale (below) is purchasable from $400,000, which is $20,000 cheaper than the median price of a unit in Moss Vale.
<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/2017/02/14/1_8%20Arthur%20Street.jpg" alt="">
The Highlands property market is heavily influenced by what is happening in Sydney and historically lags that market by six to 12 months, HTW says. It expects to see continued strong demand for properties close to the townships at price points up to $1.5 million.
“Above that price point the market becomes less defined with the choice of residential, rural/residential and lifestyle acreage properties across the villages and hamlets coming into consideration.”
Established precincts such as Darraby Estate, (Moss Vale) Renwick and Nattai Ponds (Mittagong) and Bingara Gorge (Wilton) have seen strong sales over the past 12 months, with further stage releases scheduled for 2017.
Likewise, the soon to be released subdivisions of Retford Park (Bowral) and Throsby Views (Moss Vale) have seen strong pre-sales activity.
The recent announcement by the NSW Department of Planning that Wilton Junction has been designated as a priority growth area has brought the reality of the new township to accommodate up to 16,500 dwellings across the 4,175 hectare site located off the M5 East Freeway a step closer.
Other areas earmarked for residential development include Tahmoor and Appin.
Closer into the existing townships of Mittagong, Bowral and Moss Vale it is anticipated there will be limited releases of land predominantly restricted to resubdivision of appropriately zoned larger lots.
Regarding infrastructure, the state government has committed to a $50 million upgrade of the Bowral Hospital in 2017.
In September 2016, it called for expressions of interest regarding a public private partnership for the operation of the hospital.
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Sales levels strong in NSW's Southern Highlands: HTW

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The residential market in Canberra was relatively stable throughout 2016, according to HTW's February 2017 update.
The valuation firm says market activity declined during the federal election, however record sales suggest a return of confidence in the market which it expects to continue into 2017.
The state election held in October resulted in a Labour win and secured the future of the proposed light rail scheme which will provide a new transport system for Canberra with the first stage connecting North Canberra to the City with stops at Harrison, Franklin, Gungahlin, Mitchell and inner north suburbs.
This may have an effect on residential property prices in suburbs serviced by the new transport system, HTW says.
The Mr Fluffy Asbestos Removal Scheme is continuing into 2017 with more vacant land blocks coming onto the market.
Overall the resale of affected blocks was strong in 2016 with the highest sales exceeding $1 million in the inner south suburbs.
HTW says as a result of these sales there has been a number of dual occupancy dwellings beginning construction that are slowly being introduced to the market.
The number of new apartments coming onto the market has continued to build with more stock expected during the start of 2017.
“The threat of oversaturation is a very real one and continues to be observed in several market segments including the Flemington Road corridor in Gungahlin and the Belconnen Town centre,” says the report.
“There has also been significant apartment growth in Molongolo Valley and Tuggeranong town centre.”
There were record sales in the detached housing market for a large number of suburbs throughout the ACT in 2016.
There was also significant growth in established suburbs especially in the Woden Valley and inner north.
HTW expects this trend to continue into 2017 in suburban areas of Weston Creek and Woden Valley and regions within close proximity of the light rail network.
At the average price of $650,000 a house such as the one at <a href="https://www.realestate.com.au/property-house-act-duffy-124659574" target="_blank">97 Somerset Street</a>, Duffy (above) is available for purchase.
Similarly a two bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-act-lyons-124423218" target="_blank">6/2 Corinna Street</a>, Lyons (below) was recently sold for $235,000.
<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/2017/02/14/6_2%20Corinna%20Street.jpg" alt="">
There are continuing residential land releases in Canberra’s north which is providing a steady supply of new detached housing.
Construction of detached dwellings in Moncrieff and Denman Prospect are now entering the final stages with a number of completed dwellings starting to enter the market.
“We anticipate 2017 will be a year of flat growth with demand shifting further away from the unit market in most segments and towards new detached houses,” says HTW.
“If the economic outlook continues to strengthen, it is possible the Reserve Bank may increase rates, which would have a significant impact on overall affordability.”
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Light rail project to boost Canberra suburbs: HTW

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Investor demand in Sydney for industrial assets remains strong, according to HTW's February 2017 update.
The valuation firm says there is healthy interest from offshore investors in larger scale assets in the west with long-term, strong lease covenants and established tenant profiles compressing yields sharply to record sub 5-6% yields. Prime initial yields in the west compressed by a further 15 basis points from June to September 2016 on the back of strong investment volumes.
Owner occupiers have been strong in the Sydney market, particularly in the construction, food retail and technology sectors and primarily driven by record low interest rates. The strong competition for assets has driven capital values higher and has seen yields firm with effective rents across Sydney increasing by an average of 5%. This has seen investors enter the secondary market in the search for higher yields.
“With prime yields compressing, we anticipate that the spread between prime and secondary industrial assets will tighten over the coming 12 months as investors look for higher performing returns with development upside,” the report said.
Average rental growth performance is strong, with net effective rents up by 3% year on year, higher than their 10 year average growth rate of 2.3%.
Incentives have eased slightly to around 15% over the past six months as a result of this strong demand, however rental pricing remains a significant driver of tenant demand.
Owner occupiers remain dominant in the city fringe, north and south Sydney.
In the strata unit market popular amongst owner occupiers, recent off the plan developments have seen significant increases in capital values rising by over 30% in the past 18 months.
According to NSW government figures, Sydney will benefit from the largest infrastructure spending of any state in Australia to 2020. An estimated $73.3 billion is slated, including $20 billion dollars in just one year. Budget allocations include approximately $9 billion dollars for rail projects, $2.5 billion dollars on upgrades to Sydney’s road infrastructure and over $4.5 billion dollars on health, education, water security and sports infrastructure.
Western Sydney is predicted by HTW to be a major recipient of the spending which will place it at the epicentre of Sydney’s industrial growth throughout 2017 and beyond. As well as the significant investment in infrastructure, this is driven by the availability of labour and (comparative) availability of land, above trend population growth and corresponding increase in demand for services.
“The lack of available land in traditional, inner city industrial precincts in areas such as Marrickville, Redfern and Alexandria, due to high land values, rezoning for high density mixed use, residential use and gentrification, places Western Sydney in a prime position for future growth,” HTW said.
“As an example, from a rental perspective, pricing for an industrial facility in Alexandria is typically $150 to $250 per square metre on a net face basis, however after an office conversion these rents escalate to between $350 and $425 per square metre.
“With the Sydney market being somewhat isolated from the impact of the auto industry shutdown, volatility in the resources sector and mining investment, commodity price volatility and residential property downturn (thus far), we expect industrial effective rents to rise in the next 12 months by between 3 percent and 5 percent.”
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Demand for Sydney industrial property remains strong: HTW

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Sydney’s property market will have another year of steady growth, according to HTW's February 2017 update.
The valuation firm says 2016 was a year of contradictions: an unsteady start with much speculation about the future; low investor confidence; higher bank interest rates than the RBA alongside progressively strong clearance rates; short selling periods and continual record breaking of the median price.
The market in 2016 continued to produce high auction clearance rates regularly above 80% across the greater Sydney metropolitan suburbs. This has can be attributed to low stock levels and continued buyer demand, HTW said.
The report said this level of demand will continue in 2017 and possible interest rate cuts suggest that stable growth will continue throughout the first half of the year and a possible slower second half of 2017.
HTW predict to see on average double digit growth in Sydney throughout 2017, however there may be an oversupply of units due to their concentration in certain pockets.
New quality stock in blue chip areas appears to be in high demand as does detached dwellings in the $3 million and above price point, it noted. 
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Sydney to have another year of steady property growth: HTW

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The oversupply of units caused by diminishing yields and possible increased borrower costs could be a major factor for the Sydney unit market, according to HTW's February 2017 update.
The valuation firm noted minor price declines in 2016.
It said Waterloo’s median price fell 0.3% after three years of double digit growth, according to data from pricefinder. com.au.
"This decrease in the median price in developments in the Waterloo area such as Rosebery and Zetland are from a lack of quality and size in each individual unit," HTW's report suggested.
"As these areas are highly driven by investors, the changes the Australian Prudential Regulation Authority (APRA) made to investor borrowing in 2016 will continue to slow the investor market," it forecast.
The APRA changes slowed investment in these areas more than a highly owner occupied market, such as the detached housing market in the $1.5 million to $3 million price point.
HTW predict strong growth for the detached housing market as high demand and low stock drive the market upwards and push affordable housing further out of reach within this region. It expects the $1.5 million to $3 million detached housing market to remain strong with the continued issue of limited supply throughout all suburbs in the inner west.
The report says the firm is seeing many up-sizers active in this price range, especially families who want to remain within the inner west. Traditionally these up-sizers would relocate to further out suburbs that represented far better value.
"However, these suburbs are now matching price points to the inner west suburbs closer to the CBD mainly due to now been linked by improved infrastructure such as the Inner West Light Rail.
"Purchasers may get slightly more land by up-sizing to these suburbs, but the gap seems to have closed over the past few years."
Burwood, Strathfield and Homebush are on HTW’s watch list for 2017 as unit oversupply and more development proposals are predicted.
It has seen longer selling periods in some of these completed new unit complexes compared to 12 months earlier.
"There also tends to be a trend towards the construction of smaller, low quality units which heightens the already talked about concerns in this new unit market sector."
An oversupply of units in certain inner city suburbs represents the greatest threat to Sydney property investors, according to HTW's February 2017 update. However, the general overview is rosy.
The firm says it has noticed a number of valuations for new units upon settlement not meeting their off the plan prices when purchased during stronger market conditions. It says this is more commonly in some second tier suburbs in western Sydney and additionally in some pockets of the northern suburbs particularly with concentrated new stock and a distinct difference in value ranges between the new and original older style unit prices.
Whilst mostly occurring for overseas buyers, this could trigger a flow of sales post settlement due to difficulties obtaining finance and rental yields not meeting expectations to service mortgage repayments thanks to high investor participation, HTW say.
The areas with the lowest predicted growth for the inner city are where there may be an oversupply of new units around the city fringe areas, as it appears there will be less demand and more supply in these areas so more completion for the purchaser dollar. Developments that have been completed to cash in on demand will fall short in quality and therefore appeal to both owner occupiers and potential tenants.
Other areas we believe are at risk of oversupply or heavily investor led include Wentworth Point, Carlingford, Epping, Olympic Park, Macquarie Park and Parramatta. The supply of new units in these areas is well above long-term averages.
On average, HTW considers that 2017 will see a steady growth across all areas with buyer confidence generally high. The areas it will be watching with the most growth potential appear to be the $2 million plus price bracket which in some pockets will represent land value and opportunity to develop or value add and in some will be properties with a high standard of finish and high appeal to just unpack the family bags.
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Burwood on oversupply watchlist as APRA changes to slow investors in Sydney: HTW

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Quality dwellings and units in Sydney’s southern suburbs are predicted to be stronger performers for the year ahead, according to HTW's February 2017 update.
The valuation firm says the end of 2016 saw highly renovated and new high quality properties perform better than older or average stock. Poorly renovated and inferior stock appears to be taking longer to sell and is not achieving vendor expectations.
Iridium Developments recently purchased four freestanding unit blocks from two strata corporations for $54 million in Cronulla.
HTW anticipates that the price gap between new and older stock will widen by the end of 2017.
"There is high demand and currently not enough stock to match and therefore potential growth for the $2 million plus unit bracket."
The report says high quality units in the suburb of Cronulla is a market it expects to perform well this year.
"New units from $2 million with a very high standard finish and with a possible view will potentially be our best performer this year.'
The main drivers of this unit market are considered to be the shift in lifestyle for downsizers who have sold their family home in a strong market and are now looking for a quality, low maintenance lifestyle in Cronulla to remain in their local area with access to views, the beach and shops.
Although Gymea had a strong 2016, HTW predicts that 2017 will be another year of double digit growth.
Gymea has been popular with young families of late, due to the growing café scene, upgrades to the Gymea Bay Road and relative affordability of this location within the Sydney basin.
Although the southern suburbs have had strong growth over the past three years, the report nominates Engadine is as a relatively affordable market with a median house price of $950,000 for December 2016, according to CoreLogic RP Data.
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