A subtropical pair of residential towers are in planning for a key South Brisbane site neighbouring the iconic Expo ’88 Skyneedle, with new documents revealing a vertically layered vision designed to respond to the precinct’s evolving high-density character.

The proposal has been lodged by&nbsp;Darveniza Group, which is also is behind the 400-apartment Station Quarter precinct in Alderley.

Darveniza Group, led by Jane Darveniza, the Brisbane-based investor and Queensland rich-lister and widow of the late property magnate Bojan Darveniza, is seeking approval for a mixed-use project encompassing 204 apartments, ground-level retail, food and drink tenancies, and office space across two architecturally integrated towers at 37–39 Manning Street.

Occupying an 1,822 sqm site, the proposed towers would rise above a sculptural podium base, with a recessed landscaped centre, rooftop communal areas, and a total of 220 car parks and 256 bicycle bays. The apartment mix spans one- to five-bedroom dwellings, with a design emphasis on generous balconies, cross-ventilation, and climate-responsive materials.

<img alt="First look: Twin towers proposed for Manning Street site beside Skyneedle" data-entity-type="file" data-entity-uuid="42c1f501-2afd-440b-af49-67c257123ea7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Manning%20podium.png?VersionId=KFlksfWzmDRD.VIYxd_1q3VAel.nN3TH" />

“The development is conceived as two slender twin buildings that meet at a lushly landscaped central recess,” the Finegrain design report states. “The façade is highly articulated with the plan form stepping back and forth to reduce visual bulk and maximise internal occupants’ access to natural light and air”.

A hallmark of the proposal is its integration of greenery, both visually and functionally. Around 77 per cent of the site’s green plot ratio is delivered through vertical planting spines, a green podium wall, and rooftop amenity. Ground-level deep planting and landscaped communal zones aim to create a shaded, walkable interface along Manning Street.

“The stepped plan form introduces variation in balcony setbacks and enclosed apartment areas, enriching both the façade expression and the resident experience,” the design team notes. “At ground and podium levels, this stepping also enhances permeability, maximising pedestrian view lines to the neighbouring Skyneedle and reinforcing a strong sense of local identity”.

<img alt="First look: Twin towers proposed for Manning Street site beside Skyneedle" data-entity-type="file" data-entity-uuid="b3f26dfc-6b93-465c-9ffb-0a2530372a23" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Manning%20site.png?VersionId=JflvKdqDxcaHTFbb9HL5TwoiRgeQ2LqA" />

The site directly adjoins the heritage-listed Skyneedle at 35 Manning Street, an enduring legacy of World Expo ’88. The accompanying heritage impact report by Pendergast Architects contends that the proposal has been carefully conceived to protect the cultural significance and landmark visibility of the structure.

“The design provides setbacks, tower separation and podium articulation to maintain the visibility and landmark role of the adjoining Skyneedle,” the report states. “The significance of the Skyneedle lies principally in its landmark visibility and cultural symbolism, rather than in detailed fabric or architectural setting”.

The proposal sits within the Kurilpa Sustainable Growth Precinct, under Brisbane’s TLPI 02/2023, where revised planning controls support high-density, mixed-use development integrated with subtropical design and increased public realm contributions.

Finegrain’s design reflects this intent, drawing cues from the site's adjacency to Musgrave Park, the subtropical landscape of South Brisbane, and cultural landmarks such as QPAC and South Bank.

Joel Robinson

Twin green towers proposed for Manning Street, South Brisbane site beside Skyneedle

A first-of-its-kind culinary precinct is coming to <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a>, inspired by global street-food flavours and best-in-class restaurants and entertainment.

Deicorp’s emerging mid-city precinct, <a href="https://www.apartments.com.au/new-apartments/melrose-central-melrose-park-33-hope-street-melrose-park-nsw-2114">Melrose Central</a>, will become the go-to precinct within the wider Melrose Park community, and at its heart, a first-of-its-kind culinary precinct that brings the buzz of Asia’s most iconic food streets to life.

Spanning more than 4,700 sqm, Melrose Central street food precinct is inspired by the energy and vibrant flavours of street-food neighbourhoods from Hong Kong and Tokyo to Seoul and Singapore.

This new destination will be over three times the size of existing offerings like Burwood Chinatown or Westfield Chatswood’s Hawker Lane, positioning Melrose Central as a must-visit dining hub for all of Sydney.

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Designed by Anthony Ho of Basalt Studio, this street food concept blurs the lines between culinary theatre, art, and entertainment, offering an immersive experience. Neon-lit laneways thread between open kitchens and live grill stations, while murals, interactive displays, and light installations will bring the precinct to life, trading until late, a first for the area.

“We’ve imagined our street food concept as a graduated evolution of everything people love about Burwood Chinatown, East Village and Regent Place, elevated by the immersive artistry creating a city-style dining offer,” said Bilinda Turner, Head of Retail at Deicorp.

“By curating the very best tenants from across Australia, we’re creating a fit-for-purpose town centre for 2025 and beyond. It’s something that people truly haven’t seen before."

[smartcode_project:default project_id=134220 project_image_fid=352610]

Melrose Central is far more than a food precinct. Spanning 30,000 sqm across four levels, the shopping centre will be home to approximately 100 retailers, providing a total lifestyle offering from morning until late evening.

Fresh food offerings span a brand new Coles Supermarket, Local Grocer, Korean Supermarket, Bakery and boutique fresh food, as well as a Dan Murphy's, while health needs are covered from a pharmacy, medical centre and allied health. Fitness and wellbeing take centre stage from a dedicated wellbeing hub that includes pilates, recovery, Infrared saunas and a gym, to name a few.

Variety stores will feature throughout, as well as personal care offerings from nail salons to hairdressers, as well as a dedicated early-learning centre on level 1.

[smartcode_project:default project_id=134220 project_image_fid=289888]

Situated above the retail precinct will be 495 Turner Studio-designed apartments that open onto 6,000 sqm of lush podium gardens and rooftop terraces.

Located just six kilometres east of Parramatta’s CBD and 15km from Sydney CBD, Melrose Central forms the retail and lifestyle heart of Melrose Park, an urban-renewal precinct that is set to deliver more than 11,000 homes, 22,000 new residents, and 50,000 sqm of park and open space.

A dedicated stop on Parramatta Light Rail Stage 2 will arrive at the precinct’s Hope Street entrance, and the forthcoming Parramatta Gateway Bridge will link directly to Sydney Olympic Park and Wentworth Point.&nbsp;

Supported by a 10-minute drive, this growing catchment of 200,000 people, which is projected to grow to 279,000 by 2026, and an average household income above the Greater Sydney average, Melrose Central embodies Deicorp’s vision for transport-oriented, community-focused placemaking.&nbsp;

Melrose Central street food precinct and the wider Melrose Central retail town centre are both slated to open in mid-2026.

[smartcode_project_cta:default project_id=134220]

Melrose Central: First-of-its-kind culinary precinct coming to Sydney’s West

<a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> has unveiled the fifth and final stage of its $1 billion Norwest community, The Orchards.

The final stage, <a href="https://www.apartments.com.au/new-apartments/zeste-at-the-orchards-norwest-104-fairway-drive-norwest-nsw-2153">Zeste</a>, will deliver 209 apartments across two distinctive buildings, Essence and Eden. The 135 apartments in Essence will be the first to be released to the market, which will bring to an end the decade-long vision to create a&nbsp;neighbourhood defined by design excellence, sustainability, and community engagement.

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David Lee, Sales Manager at Sekisui House Australia said, Zeste's oversized living spaces and diverse apartment mix, which includes the introduction of&nbsp;Breezeway Sky Homes for the first time, deliver a unique lifestyle offering.

Early purchasers will benefit from exclusive VIP pricing as well as the choice of one premium upgrade, which Lee says is a "thank you" for their commitment to the project.

[smartcode_project:default project_id=150510 project_image_fid=351876]

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, Zeste embodies Sekisui House’s global design philosophy of creating harmony between people, homes and nature. Principal Ben Pomroy explained that Zeste is about living within the landscape.

“With two large courtyards, the lagoon pool precinct for the wider community and a central courtyard with pavilion exclusively for Zeste residents, the architecture frames an experience of living in a park," Pomroy said.

“Over 50 per cent of the site is landscaped, ensuring a deep connection to nature at every stage of daily life. The buildings are designed as a collection of smaller, finer-grain forms, with over 85% of apartments enjoying dual aspects.

“The focus on natural ventilation, generous layouts and communal interaction creates a residential environment that is both sustainable and socially connected.”

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Natalie Shalala, a member of Rothelowman’s interiors team said they reimagined the former site’s Orchard homestead with a contemporary twist. &nbsp;

“The design draws on the nostalgia of the past orchard – timber floors, the warmth of a fireplace, the rituals of the homestead and reinvents them for modern apartment living,"&nbsp;Shalala said.

“We have created two tonal palettes, one with pale honey undertones and another with a soft blush inspired by nectar. A highlight feature is the cathedral glass light box, a bespoke design element that re-interprets the classic lantern. It is both beautiful and functional, tying kitchen and bathroom spaces together in a way that feels entirely unique."

Shalala said the&nbsp;day-to-day liveability has been carefully considered, with abundant storage solutions, butler’s pantries, bike storage and joinery designed to simplify routines and enhance comfort.

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[smartcode_project:default project_id=150510 project_image_fid=352090]

Apartments in Zeste start from $715,000 for one-bedrooms and extend through to expansive three-bedroom Sky Homes priced from $2.25 million. Floorplans range from 59 sqm to 144sqm.

The mix in Essence comprises 41 one-bedroom, seven one-bedroom + Max space, 39 two-bedroom, 40 two-bedroom Breezeway Sky Homes (24 of which include additional Max spaces), and eight three-bedroom residences.&nbsp;

Max spaces are integrated into select residences, offering a flexible room that can be tailored to individual needs, ideal as a home office, children’s play area, or additional storage.

[smartcode_project:default project_id=150510 project_image_fid=351881]

Zeste continues Sekisui House Australia’s partnership with Altogether Group, providing sustainable water, power and data services to residents. Passive design strategies include cross-ventilation, deep landscaping and water features that encourage evaporative cooling, aligning with The Orchards long-term environmental goals.&nbsp;

Construction is set to commence on the Zeste buildings in early 2026, with completion anticipated in late 2027 to early 2028.&nbsp;

More than 850 apartments have been sold across the masterplan, contributing to The Orchards community of 1,300 apartments when complete.

[smartcode_project_cta:default project_id=150510]

Sekisui House Australia launches Zeste, the final stage of its $1 billion Norwest masterplan

A significant addition to the Bella Vista Station Precinct is in the pipeline, with <a href="https://www.apartments.com.au/developers/landen-property">Landen</a> formally lodging a State Significant Development Application for a <a href="https://www.apartments.com.au/new-apartments/40-memorial-avenue-bella-vista-40-memorial-avenue-nsw-2153">new apartment community on Memorial Avenue</a>.

Positioned beside the Elizabeth Macarthur Creek corridor, the project is among the first major transit-oriented residential proposals within the Metro precinct.

The masterplan, designed by&nbsp;<a href="https://www.apartments.com.au/architects/turner-studio">Turner Architects</a>,&nbsp;outlines a four-stage delivery, comprising four buildings between four and fifteen storeys, and includes a mix of one-, two-, and three-bedroom apartments, alongside a limited selection of four-bedroom penthouses and terraces.

The project places a strong emphasis on housing diversity and liveability, with apartment sizes ranging from 50 to 180 sqm. The first stage will deliver 213 dwellings, followed by 231 in the second stage. Construction is expected to commence in 2026, pending approvals.

<img alt="Bella Vista Apartments" data-entity-type="file" data-entity-uuid="bb3d84b1-d2df-4e26-915a-31b27faf9b1a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/View02_01-scaled.jpg?VersionId=Gb0AUtZ3VXsLxrqUaw_AwT_vcBwQ_FJu" />

As the first transit-oriented development (TOD) in the precinct, Landen’s Bella Vista community has been designed to align closely with the surrounding Metro infrastructure. The proposal integrates new pedestrian and cycling paths, a new bridge over Elizabeth Macarthur Creek, and direct access to Bella Vista Metro Station.

Lush communal amenities are also central to the design. 'The Grove' and the 'Garden Link' will create landscaped community areas that reflect the area's agricultural heritage and provide direct access to the creekside.&nbsp;

The ‘Garden Patio’ is conceived as a multi-use indoor-outdoor facility offering a gym, study nooks, and communal lounge spaces.&nbsp;Rooftop terraces across the buildings will offer views to the Blue Mountains and Parramatta skyline.

<img alt="Bella Vista Apartments" data-entity-type="file" data-entity-uuid="778da409-d5cf-4e7d-9ba9-0c36990bf0b4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/landen-bella-property-image.jpg?VersionId=ukPpmVcHF71xRc7U3MUT5rtGwOsntMMz" />

Landen’s Head of Property, Shane Harding, said the proposal highlights the developer’s precinct-scale ambition.

“As the first TOD proposal in Bella Vista, it highlights Landen’s ability to pioneer precinct-scale projects, integrate housing with infrastructure, and deliver outcomes that align with government priorities,” Harding told the Daily Telegraph.

The project arrives at a time of rapid growth in Western Sydney, with Bella Vista alone forecast to more than double in population by 2046. The development’s location, between the Bella Vista and Kellyville Metro stations, positions it as a connected lifestyle hub for families, professionals and downsizers seeking access to transport, schools, and employment centres.

Pending approval, the development is slated for completion in 2028.

Landen plans 444-apartment community in Bella Vista Metro zone

Developer <a href="https://www.apartments.com.au/developers/equicentia">Equicentia</a>, together with joint venture partners Wingala Capital and Monark Property Partners, has become the first in Manly to secure Resilience Insurance’s Latent Defects Insurance.

The trio has recently launched <a href="https://www.apartments.com.au/new-apartments/de-ville-manly-11-victoria-parade-manly-nsw-2095">De Ville</a>, a new luxury project on a long-dormant yet prime site at 9–11 Victoria Parade, positioned between East Esplanade and South Steyne.

<img alt="De Ville" data-entity-type="file" data-entity-uuid="b2639bb1-d72c-4f28-b4dc-33190655e147" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-10-12%20at%209.38.37%E2%80%AFAM.png?VersionId=orUAk2m2tTKAAasLvZg0IaGQyDaZcKYI" />

The site was originally earmarked for a 26-apartment scheme, but following its $25 million acquisition of the near-1,200 sqm parcel, the development team opted for a more refined approach, reducing the yield to just 12 two- and three-bedroom residences across a six-level building.

Among them will be three full-floor penthouses boasting panoramic views across Manly Beach, North Harbour, and the city skyline. The apartments will sit above four ground-floor retail and commercial tenancies, designed to help activate Victoria Parade, an area long defined by its beachside character and interwar brick architecture.

<img alt="De Ville" data-entity-type="file" data-entity-uuid="d6922f4a-21fb-4a07-8e40-241d594c2538" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/int3.jpg?VersionId=7U1Qw79_YT3bOZKr7.H03JHOFm3QVYlE" />

Designed by <a href="https://www.apartments.com.au/architects/platform-architects">Platform Architects</a>, De Ville’s sculpted form takes cues from the ebb and flow of Manly’s dual waterfronts, the ocean to one side and the harbour to the other.&nbsp;

The architecture’s soft curvature and rhythmic vertical brickwork reflect the natural patterns of the tide, while a refined palette of Lohas brick, sandy render and glass detailing allows the building to harmonise with its coastal context.&nbsp; Cascading greenery and deep balconies bring texture and shadow to the facade, reinforcing the building’s connection to nature and the street.

Buyers have a choice of two different colour palettes, Taj Mahal and Brescia Green, each layering soft tones and organic finishes to capture the coastal light.

<img alt="De Ville" data-entity-type="file" data-entity-uuid="be78b114-88ed-4d33-a4ef-50e14d2f9064" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/int6a.jpg?VersionId=hBrZPvs1L2LwThSatcNMXTg0tltfEn4a" />

De Ville is the first development in Manly to fully protect its buyers with 10-year Latent Defects Insurance offered by Resilience Insurance.

The policy covers buyers for 10-years post-completion of the building, a first-resort cover again&nbsp;major structural or waterproofing defects.&nbsp;

Unlike traditional statutory warranties, which often require complex and lengthy claims processes, LDI ensures that if a covered defect arises, the insurer responds immediately - without the need to prove fault or pursue the builder or developer.

This new model of protection has been gaining traction among forward-thinking developers and financiers alike. For buyers, it offers tangible assurance of quality and accountability; for lenders and insurers, it reflects a measurable reduction in long-term risk.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/what-is-latent-defects-insurance-and-is-it-bringing-confidence-to-the-off-the-plan-apartment-market">What is Latent Defects Insurance and is it bringing confidence to the off the plan apartment market?</a>

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Equicentia launches Manly's first new development with 10-year Latent Defects Insurance

Land Value

Metropolitan Melbourne&#39;s median land price increased by 1% in September to $337,000, up 5% annually, according to Red23, one of the country&#39;s leading land sales agencies.

&quot;This is back to the same median land price achieved in early 2019, but has not reached the peak of $349,000 witnessed in September 2018,&quot; said Terry Portelli, the founder and managing director of Red23.

The latest report noted the median land size continues to decrease, down 0.26% to 387sqm, less than the 400sqm median land size three years ago.

Portelli reckons APRA&rsquo;s increase in the minimum interest rate buffer will have little effect in the short term on the demand for housing in the greenfield areas as demand in these regions remains strong.&nbsp;

&quot;But it will have a negative effect on first home buyers who are already on the backfoot because of swift price increases.&quot;

In September land sold in the Melbourne growth areas have taken approximately 1.5 months to sell from the time it is released to the market; in comparison to 2.6 months in June.

Wyndham sold over 1,200 lots in the third quarter, which is double of the same time last year.&nbsp;

Melton sold close to 1,000 lots in the third quarter, same as 12 months ago.&nbsp;

Casey achieved a similar number to Melton.

In Metropolitan Melbourne, over 4,700 lots were sold in the third quarter, similar numbers to quarter two but and down 990 lots on the first quarter.

The Red23 report noted demand for land remains strong, but stock availability continues to be tight, at record lows of approximately 1,000 lots available at any given time.

Greater Geelong has already sold over 2,000 land lots which is 400 more than the total number sold in 2020.

Regional and semi regional areas remain strong as indicated by the price growth in areas such as Greater Geelong and Mitchell.

Greater Geelong is the biggest mover this month, up 12% to a median land price of $351,000 and an increase of 23% YoY.

Portelli suggest APRA’s increase in the minimum interest rate buffer will have a negative effect on first home buyers 

jchancellor-FAypfDUnLy

Metropolitan Melbourne's median land price heading towards 2018 peak: Red23

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The NSW Valuer General has released the latest official land values.
Residential land values increased by 4.4% over the year.
There had been a 14.1 per cent rise in the previous year.
The land values are for the value of the land only, as at 1 July 2018.
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One of the biggest increase was in Ku-Ring-Gai local government area where residential land values increased by 22.5% with very strong increases in land values for mixed use properties along the Pacific Highway (45.8%).
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Residential land values increased in the Lane Cove local government area by 17.4%, due to demand for housing near public transport, main roads and the business centres of North Sydney, Chatswood and Macquarie Park.
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Acting Valuer General Michael Parker said the land values are made by independent contract valuers following the analysis of over 46,000 sales. 
Residential land values in the Sydney Central region recorded an increase of 2.1%, the so-called Sydney East region increased by 3.2% and the Sydney West region had a 3.8% increase.
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Decreases were recorded in the Georges River suburbs (-3.3%).
Rural NSW land values increased overall by 14.3% due to continued demand and firm commodity prices. 
Most locations recorded strong increases despite the continuing dry conditions, the department noted.
The land values reflect the property market at 1 July 2018. Land values do not include the value of a home or other structures.
Mr Parker encouraged the public to visit valuergeneral.nsw.gov.au for more information on land values and the valuation system.
“The latest land values for all properties in NSW are available on our website along withinformation on trends, medians and typical land values for each local government area,” Mr Parker said.
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The Sydney East region saw its strongest increases in the local government areas of North Sydney and Mosman, which showed 14.4% and 11.2% increases respectively.
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The Blue Mountains local government area had an increase of 16.6%. The Hills Shire (0.7%) and Fairfield (1.5%) local government areas had steady residential land values.
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j.ballantyne1990-6AQqhLzZaK

Ku-Ring-Gai and Lane Cove show strongest gains as NSW residential land values up 4.4% over the year

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EXPERT OBSERVATION
Demand for land in and around Melbourne continues to experience unprecedented demand with the average block being snapped up just 24 days after hitting the market.
The new analysis of land sales rates by Oliver Hume, which measures the period from when land is released for sale by a developer until it is contracted by a purchaser, recorded a slight uptick in the first three months of 2018, but remains at historical lows.
Since late 2012, when land was taking nearly 200 days to sell, the indicator has dropped to around 24 days. The demand for land has seen prices continue to rise, although price growth now appears to be slowing, while lot sizes continue to edge lower.
From the final quarter of 2017 to the March quarter 2018, Melbourne’s key growth area markets saw the median lot price increasing by 4.7% (or $14,000) to reach $314,000.
This occurred while the average size of lots solds continued to decrease in size reaching 400 square metres in the March quarter 2018 (down from 406 square metres in the December quarter 2017).
Click here <a href="https://www.propertyobserver.com.au/images/2018/5/22/Melbourne-land.jpg" target="_blank">to enlarge.</a>
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Population growth remains much stronger than previously forecast but affordability constraints were now becoming evident.
Record levels of population growth have placed significant demand pressures on housing and land. Combined with continued low wage growth this is fundamentally changing the nature of the market for new land in Melbourne’s greenfield markets.
More broadly, the significant structural change we continue to see in the economy continues to shape the market. Average lot sizes in metropolitan Melbourne have declined by around third over the last decade while Mebourne’s annual population growth has doubled.
Victoria’s robust employment growth is a factor driving the market more recently but sluggish wage growth continues to play a major underlying role.
Melbourne could well overtake Sydney as Australia’s largest city soon with one estimate suggesting this will occur within the next decade. 
Going forward, Melbourne land sales volumes and activity levels might be driven by the new wave of record infrastructure spending in the pipeline both from the Federal and State Governments.  Major state and city-shaping projects include the North East Link –the biggest transport project in the state’s history and the Metro Tunnel.
George Bougias is the national head of research at Oliver Hume.
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jrobinson-rf4aSBido9

Average Melbourne land tops $300,000 with demand still strong

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How much is Australia's land worth?
The answer is about $5.8 trillion, according to the latest Australian Bureau of Statistics (ABS) figures for the 2017 financial year. That's well over three times the level of Australia's GDP of around $1.7 trillion. 
And, at just under $4.8 trillion, about 83% of that dollar value related to land zoned for residential use (up from just 63% in 1989, when the data series commences). 
Of course, the ABS figures are quite rightly presented in current prices, and do not attempt to account for the twin impacts of inflation and Australia's significant population growth.
Nevertheless, the figures do show why individual or 'Mum and Dad' investors are drawn towards residential property over commercial investments. Since the population is growing and everyone needs somewhere to live, there is more competition for residential land - especially in the big capital cities - and therefore values have risen over the long term. 
<a href="https://1.bp.blogspot.com/-9QH9E-VQgAo/WfLhvwfBnyI/AAAAAAAAmxI/eC1q7mb78y0iivUZ83qiXmDg1yj_rzIZQCEwYBhgL/s1600/A2.jpg"><img src="https://1.bp.blogspot.com/-9QH9E-VQgAo/WfLhvwfBnyI/AAAAAAAAmxI/eC1q7mb78y0iivUZ83qiXmDg1yj_rzIZQCEwYBhgL/s640/A2.jpg" width="640" height="388" data-original-height="822" data-original-width="1353"></a>
At the state level, the strong five-year uplift in residential land values has mainly been driven by New South Wales and Victoria.
Again, these are also the states generating the bulk of economic activity and population growth, so that's to be expected to some extent.
But even accounting for population growth, the uplift in nominal land values was once again huge during the 2017 financial year, with total residential land values rising by about 16% in each of the most populous states. 
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As you can see in the above chart, the value of land zoned for housing has all but increased by a lazy couple of trillion dollars through this cycle to date.
In Victoria the total value of residential land sits at about $1.3 trillion, and in New South Wales the figure is now approaching $2 trillion. 
The total value of residential land in both states has comfortably more than doubled since 2009. 
On the other hand, one jurisdiction has seen the total value of its residential land in decline since the 2014 financial year as the resources boom years faded: the Northern Territory. 
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How much is Australia's land worth? Pete Wargent

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Residential land costs in key markets have reached a new high, says HIA senior economist Shane Garrett.
Vacant land in Sydney is now over $1,000 per sqm.
“Today’s HIA-CoreLogic Residential Land Report indicates that the median lot price nationally increased to $256,683, an increase of 8.5 per cent on a year earlier," Garrett said.
“Across Australia, land turnover is down about 9 per cent on a year ago.
“The speed at which land price is increasing is a concern as it compounds the housing affordability problem.
The results are contained in the latest edition of the HIA-CoreLogic Residential Land Report.
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Garrrett suggested land supply policy has to be central to making real and sustainable progress on housing affordability.
"This requires improved outcomes with respect to financing of housing infrastructure, monitoring and timely reporting on land release and speeding up zoning and subdivision process,” he said.
CoreLogic’s commercial research analyst Eliza Owen says record high lot prices over the past five quarters are likely to have contributed to worsening affordability and influenced the unprecedented level of high density residential development that is currently under construction.
“As the Australian economy shifts from residential to non-residential construction, demand for vacant residential land may shift in location and scope," Owen said.
"New and prospective infrastructure developments such as the inland freight rail and Badgerys Creek Airport will open up new employment and development opportunities further from the metropolitan regions which may stimulate demand for housing in areas with a more affordable price tag."
Over the year to June 2017, price pressures in the market for residential land were most intense in Melbourne where the median price increased by 19.6 per cent over the previous 12 months.
The pace of land price growth was also strong in Sydney (+9.8 per cent) and Adelaide (+8.0 per cent) over the same period.
Land price gains were more modest in Perth (+5.0 per cent) and Brisbane (+0.1 per cent) over the same period.
Hobart was the only capital city to experience a reduction in the median land price over the year to June 2017 (-15.8 per cent).
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New Sydney land costs top $1,000 per square metre

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The NSW Land and Environment Court has ruled in favour of a garden outlet owner in Sydney’s Haberfield over a valuation dispute between him and the Roads and Maritime Services which acquired the property.
Judge Sheahan ruled that the applicant, Dan Wei Zheng’s claim for market value through his valuer was preferred to the government valuer.
The RMS compulsorily acquired the land owned by Dan Wei Zheng at 269 Parramatta Road, Haberfield on 15 December 2015 for the construction of Stage 1(b) of the NSW government’s WestConnex Motorway M4 East Project, involving the extension and widening of the M4 Motorway from Parramatta to Haberfield. 
The land area is 1,353.2 sqm with a potential floor space area of 2,029.9 sqm (if redeveloped) and contained buildings originally constructed around 1970 for use as a service station, but were used as a warehouse and display area for the sale of stone products such as bench tops, statues and garden features, noted the judge.
Valuers from the two sides, Messrs John Sanidas for the original owner and government valuer Lunney said the direct comparison method should be the primary valuation method.  
Even, adopting the same valuation method, the two experts arrived at two different market valuations being $805,000 apart. 
David Lunney determined market value at $3,755,000 or $1,850 of potential gross floor area. 
Dan Wei Zheng’s case for valuation was determined by Sanidas who found the market value at $4,560,000 or $2,250 of potential gross floor area. 
The valuer-general valued the land for RMS at $3,635,000 or $1,790 of potential gross floor area.
“In general terms, I prefer Sanidas’s evidence to Lunney’s, but I need now to explain my reasons,” said the judge.
When the two experts adopted secondary (or check) valuation method i.e capitalisation of (notional) rent a difference of $1,760,000 was revealed. 
The government valuer determined ($2,500,000) whist Sanidas determined ($4,267,000). 
Sanidas said the close assessments based on the primary and secondary methodologies was largely due, in his view, to competing property market segments. For example, the owner occupier and or investment/development market segment each saw comparable underlying land value.  
The judge noted that “given the disparity between the valuer’s applications of their secondary/check method – capitalisation of (notional) rent – I do not consider it necessary or useful to go into detail, beyond noting that the figure arrived at by Sanidas, when employing this method ($4,267,000) is reasonably comparable to the value at which I have arrived after my analysis of the valuation evidence”.
While the valuers agreed regarding what constituted the highest and best use of the land, as it existed at the date of acquisition, Sanidas said the land had the further advantage of being able to continue indefinitely in a profitable manner. 
The valuer for the RMS submitted that the improvements to the site at the date of acquisition represent a significant underdevelopment, which were at the end of their economic and functional life; albeit nevertheless capable of ongoing use. 
Sanidas said the jurisdiction of the NSW Land and Environment Court allow where a person or business is dissatisfied with the award of compensation determined by the Valuer-General in connection with the compulsory acquisition of land, that person or business is entitled to have that determination reviewed by a judge of the Land and Environment Court, in what is known as ‘Class 3’ of the Court’s jurisdiction.  
Class 3 is unique, because it represents the only forum in which an applicant may go to have their compensation reviewed by a third party. 
The valuers identified the “Bunnings precinct” as a prime retail hub for, particularly, industrial and construction goods. That hub benefitted from exposure to very heavy passing traffic, but there were competing views as to how far from the Bunnings corner along Parramatta Road, the precinct extended to the east (city bound). 
But there was general agreement between the expert valuers as to the number of adjustments to apply to the evidence. The three adjustment factors included:-      
1.The Bunning Precinct - location advantage due to large traffic volumes 
2.Corner advantage - evidence showing premiums paid for corner sites 
3.Monthly market improvement- evidence showing market growth of 1.5% per month or 18% per annum. 
The adjustment — 5% of 15% — to be applied to the evidence was for the court to determine. 
The court’s adjustment ultimately saw a judgement for market value $4,560,000/$2,250 sqm generally in line with Sanidas’ determination of market value. 
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jonathanchancellor-7SQnKwU6yx

Valuation court rules in favour of Haberfield site owner whose site was acquired by RMS

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New land prices in the south-east corner of Queensland have increased nearly 80 percent over the last 10 years, with the average square metre of new land now costing about $523, according to research from property services group Oliver Hume.
The analysis of new land prices from 2006 to 2016 shows the average block of land has shrunk from 632 sqm to 466 sqm, while average prices have increased from $184,000 to $244,000.
The combination of growing prices and shrinking lots means the average price of a square metre of land in the south east has increased from $291 to $523, or 79.7 percent.
Brinton Keath, Oliver Hume Queensland Joint Managing Director said the increase represented some of the strongest returns from any investment class over the last 10 years.
“If you had acquired an average block of land at a new development in 2006 the same block of land now would probably fetch more than $330,000,” he said.
“The large blocks that were being sold back then are extremely rare these days and would probably attract a healthy premium on top of that.”
<a href="https://www.propertyobserver.com.au/images/2017/05/16/Screen%20Shot%202017-05-16%20at%2010.17.31%20am.jpg" target="_blank">Click to enlarge</a>
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Source: Oliver Hume
“As the cost of development has increased over the last 10 years because of things like infrastructure charges, englobo land price increases, construction costs and red and green tape the size of lots have had to come down to maintain affordability.
"There is also increasing demand for smaller blocks which are lower maintenance.
"The research also showed prices for residential land in the south east increased about 6 percent throughout 2016.
"The pace of growth over the last 12 months reflected continued low levels of supply, with limited new land coming on to the market.
“Prices will continue to rise while there is such a shortage of new land coming on to the market.
“Unless governments at all levels can find ways to release more land for sale, prices will continue to rise at above inflation.”
“We expect similar levels of growth in 2017 with the Gold Coast, which is experiencing a major shortfall in new land, set to experience the strongest growth."
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South East Queensland new land prices up 80 percent in 10 years

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Land valuers from valuation firm Herron Todd White say the second airport for Sydney at Badgerys Creek has been like winning the lottery for those who bought a small block of land.
"It used to just be called poor man's acreage – greyhound trainers and and truck drivers – but really it's been their lottery win," Herron Todd White's Kim Quick was cited as saying by The Australian Financial Review.
According to an estimate by her colleague, Haden Nolan, land prices have easily doubled since the then Abbott government confirmed the location three years ago.
"As soon as that came out the phones started ringing," Nolan said.
"A five acre (two-hectare) holding with a house and shed would have sold for about $1 million in 2014 and I just did a valuation this morning on a place like that and there is nothing under $2 million for that now. Most of those places are now worth $2.5 million.
One smaller land owner about 5 kilometres from where the airport will be, Jason Kennett, is another supporter of the airport but he thinks values are already priced in.
"I don't think you will see any more value unless all the infrastructure comes in," Kennett said. "We do want to realise the value so we would look to develop the land or sell it."
The federal government  recently said it will build Sydney’s second airport after the Sydney Airport Group, which owns the Kingsford Smith airport, pulled out of the project, citing "risks" on monetary return for its investors.
But not everyone is happy with the news of the second airport. Valuers say the expectation of planes flying overhead have made some move further west.
Jackie Kelly, the former Liberal MP, who held the seat of Lindsay for a decade, which covers parts of Badgerys Creek, is irate that the government is paying.
"The government is going to fund this whole thing. I think taxpayers should be screaming their heads off," Kelly was quoted by the AFR as saying.
Another charged question is who will pay for the infrastructure charges and who might get taxed on the increase in value of the land because of the new infrastructure – a concept known as value capture?
The government will unveil the details of the plan in the federal budget.
UDIA national president and member of the federal government's Cities Reference Group Michael Corcoran said the federal government's decision was excellent news because it offered certainty for people to invest. However, he said if the government started taxing property owners and developers it would have negative consequences.
"If the federal and NSW governments think that value capture taxes on new housing can fund a large portion of the cost of the new airport and related infrastructure they are dreaming," Corcoran said.
"Sydney housing is suffering an affordability crisis driven by a lack of supply and taxes that equate to 30 to 40 per cent of the cost of a new home. New home buyers are at breaking point.
"The new airport and related infrastructure will bring benefits to all of Sydney, NSW and Australia and cannot be used as a pot of tax gold, levied only on new home buyers and employers in western Sydney. More levies and charges on this new city will undermine its viability from day one."
Former Labor heavyweight and former secretary of the NSW Labor Council Michael Easson, who is executive chairman of property investor EG Funds Management, was also overwhelmingly supportive of the airport but questioned the opportunity for private investment and said further work needed to be done to make sure growth in real estate and the local economy was achieved.
"I have seen estimates of property values doubling and tripling in the decades ahead," he said, "although it might seem obvious that property values will go up with new infrastructure, nothing is entirely guaranteed".
"The full realisation will take 30 years or more," Easson said. 
"There are many stages ahead, each with the potential to add value to the built environment, the aesthetics of the urban habitat and property values.
He said public-private partnerships were needed, including good opportunities for super funds to invest – and quality architecture, resourceful thinking to make this transformation.
"Obviously this needs to be bi-partisan and it looks like everyone supports the critical infrastructure. But we need the best minds in the country – and beyond – to make Badgerys Creek one of the best places to live in Australia," Easson said.
Mark Perich has lived his entire life over the road from where the federal government has declared it will go it alone and build the new multi-billion dollar Western Sydney Airport at Badgerys Creek.
Perich, who operates dairy company Leppington Pastoral, is one of the big winners from the plan, with about 2000 hectares of farmland in the area that could one day have thousands of houses on it.
"There have been others who have invested in the area over the last five years on the expectation the airport would go ahead and they have benefited from an increase in land values," he said.
"I don't know how much more it's going to go up."
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Badgerys Creek airport a boon for local land owners 

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The total land value for the Northern Tablelands region has increased over the 12 month period to 1 July 2016 by 9.5 percent from $7.42 billion to $8.13 billion.
Rural properties showed the highest overall increase of approximately 11.4 percent.
Good seasonal conditions together with strong commodity prices for beef and lamb have been the main drivers for strong increases in rural land values in the region.
Inverell LGA showed the strongest increase (20.3 percent), while the lowest growth was experienced in the Walcha LGA (7.9 percent).
A 961 ha mixed farming land at <a href="https://www.realestate.com.au/property-mixed+farming-nsw-inverell-7876718" target="_blank">Inverell</a> (above) has been listed for sale for $3,750,000.
Residential land values increased by 6.2 percent overall.
The highest increases were in the LGAs of Uralla (12.1 percent), Inverell (7.7 percent) and Armidale (7.2 percent), whilst Walcha (-4.9 percent) and Glen Innes (-2.1 percent) showed a decrease in value.
Residential land at Uralla (above) was recently sold for $107,000.
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Commercial land values across the region generally remained steady.
<a href="https://www.propertyobserver.com.au/images/2017/02/03/Screen%20Shot%202017-02-03%20at%2011.33.40%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/2017/02/03/Screen%20Shot%202017-02-03%20at%2011.33.40%20am.jpg" alt="">
The strongest increase occurred in the LGA of Uralla (16.8 percent).
However, commercial land values decreased in the LGAs of Walcha (-5.3 percent) and Glen Innes (-2.4 percent) reflecting lower demand for commercial property in these areas.
Industrial land values for the region have generally remained steady.
The strongest increase was experienced in Uralla (9 percent), with the largest decrease in Walcha (-5 percent).
For more information including interactive online land value summaries for all LGAs and 14 regions covering the state go to 
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Land value for rural Northerland Tablelands properties increases by 11.4%: NSW Valuer-General

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SPONSORED POST
I have a client getting 100 percent average growth and returns on his investment portfolio year on year. He’s a department head of one of Australia’s top four banks. He’s not alone – I have many clients getting plus 100 percent returns year on year.
The question I often get asked is ‘what are they investing in?’ But that would be the wrong question.
The big question is: what do we want property to do for us? 1,973,000 or around 8 percent of all Australians own an investment property.
Only 18.9 percent have two properties, 5.5 percent own three, 2 percent own four and 0.9 percent have six or more. That tells us less than 2 percent of the population are using property to build wealth.
Around 7 million Australians own real estate.
The three main reasons to buy a property are: to live in, for income or for capital growth.
So what do we want an investment property to do for us? Two things: give us income and/or give us growth.
The general rule of thumb is the higher the income the lower the growth (i.e. commercial property) and similarly the higher the growth the lower the income.
So when we buy an investment property we need to be clear about our primary objective: growth or income.
I’m a growth-focused investor. Income is important but growth is the focus. The only part of a property that grows in value is the land. Rule number one for me is 40 percent land content.
So how do you get 100 percent plus per annum figure? The answer is compound growth
98 percent of investors make the biggest mistake you can make – they’re simple investors. They know two questions to ask: ‘what are my returns and when do I get my money back?’
When it comes to property they have one mantra; ‘location, location, location.’ Generally the best location is close to where they live.
Simple investors buy with a view to then sell. Compound investors focus on growth and use this growth for leverage, enabling them to grow their portfolio on their initial investment. Some very important factors then come into play with the strategy. For example the bank you use is vital – you must get a copy of the bank valuation and resist cross-collateralising your own home.
And to top it all off, Australia’s population growth is 1.5 percent-2 percent p.a. Custodian investors have their land bank strategically placed in growth areas where the average population growth rate is over 6 percent p.a. that’s more than three times the Australian average. ‘
Land is the commodity and land is the focus.
John Fitzgerald is CEO of Custodian Group. He founded his company in 1981 and has since bought, sold and developed more than 10,000 properties in 4 states of Australia. He wrote the 7 steps to Wealth in 1998 - now in its 7th edition. Get a copy at <a href="https://www.custodian.com.au/getthebook/" target="_blank">getthebook.com.au</a>.
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