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

Joel Robinson

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

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

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

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

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

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

Bottega House secures landmark riverfront site in St Lucia 

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

SIERA kicks off construction at Northcliffe tower Exhale

Median Price

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CoreLogic's head of research Tim Lawless said that Sydney gross rental yields for units was the lowest across the capitals at 3.9 percent. 
<div>Melbourne was not that far behind.</div>
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<div>Sydney's units median price now sits at $665,500.</div>
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<div><a href="/images/2016/09/02/Screen%20Shot%202016-09-02%20at%2011.32.00%20AM.png" target="_blank">Click to enlarge</a></div>
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<div>
<div data-canvas-width="34.800000000000004">Rental markets continued to run soft, with capital city rents falling a further -1.1 percent over the past three months to be -0.5 percent lower over the year.</div>
<div data-canvas-width="34.800000000000004"> </div>
<div data-canvas-width="34.800000000000004">The weakest rental conditions are being experienced in Darwin and Perth, where dwelling rents fell by -9.4 percent and -14.1 percent respectively over the past twelve months.</div>
<div data-canvas-width="34.800000000000004"> </div>
<div data-canvas-width="34.800000000000004">Most of the capitals recorded rental falls over the year, however rents have shown some subtle growth in Melbourne, Canberra and Hobart.</div>
<div data-canvas-width="34.800000000000004"> </div>
<div data-canvas-width="34.800000000000004">The gross rental yield profile in Sydney and Melbourne has once again pushed to a new record low in August.</div>
<div data-canvas-width="34.800000000000004"> </div>
<div data-canvas-width="34.800000000000004">Sydney and Melbourne have each recorded the lowest gross rental yields across the capitals for houses at 2.8 percent, both of which are record lows for the cities.</div>
<div data-canvas-width="34.800000000000004"> </div>
<div data-canvas-width="34.800000000000004">Gross rental yields on units tend to be higher compared with houses, however the gross yield for attached housing product is also at a record low, averaging 4.1 percent across the capital cities and ranging from 3.9 percent in Sydney to 5.4 percent in Hobart.</div>
<div data-canvas-width="34.800000000000004"> </div>
<div data-canvas-width="34.800000000000004">Mr Lawless said, “The disparity in the performance of housing markets across the capital cities and from region-to-region highlights the diverse economic and demographic factors around the country. “Such diversity, not only regionally, but also across housing types, makes reading the housing market more challenging than ever.</div>
<div data-canvas-width="34.800000000000004"> </div>
<div data-canvas-width="34.800000000000004">"Complicating this is the fact that a record amount of new housing construction is under way, with more in the pipeline.</div>
<div data-canvas-width="34.800000000000004"> </div>
<div data-canvas-width="34.800000000000004">“With so much new supply being delivered to the market in the form of units, we are already seeing significantly slower growth rates for units compared to houses in a number of cities.</div>
<div data-canvas-width="34.800000000000004"> </div>
<div data-canvas-width="34.800000000000004">"As these unit projects come to completion and ultimately settlement, the underperformance of new unit stock could create headwinds for the market in certain geographies.”</div>
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<div data-canvas-width="34.800000000000004"><a href="/images/2016/09/02/Screen%20Shot%202016-09-02%20at%2012.00.19%20PM.png" target="_blank">Click to enlarge</a></div>
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Record low yields for Sydney and Melbourne: CoreLogic

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After CoreLogic recently reported a median unit price of $292,500 in Hobart, Property Observer went searching for what that got. 
In <a href="https://www.realestate.com.au/property-unit-tas-montagu+bay-122604090" target="_blank">Montagu Bay</a> $295,00 will purchase a two-bedroom, one-bathroom unit on Montagu Bay Road (above). The villa-style unit sits on 283 square metres and has a private, low maintenance private backyard.  
The same price will also purchase a two-bedroom, one-bathroom unit in <a href="https://www.realestate.com.au/property-unit-tas-lenah+valley-122429054" target="_blank">Lenah Valley</a> on Iluka Court (below). The 74 square metre brick unit is currently rented at $280 per week.  
<img src="/images/2016/08/31/Screen%20Shot%202016-08-31%20at%204.13.43%20PM.png" alt="">
Also in Lenah Valley and listed for offers above $290,000, the <a href="https://www.realestate.com.au/property-unit-tas-lenah+valley-123346634" target="_blank">Alwyn Road</a> unit (below) offers two bedrooms and one bathroom. The ground floor unit is 88 square metres in size. 
 <img src="/images/2016/08/31/h2.jpg" alt="">
For offers above $295,000, home-buyers can secure a modern two-bedroom, one-bathroom town house in <a href="https://www.realestate.com.au/property-apartment-tas-lindisfarne-123111294" target="_blank">Lindisfarne</a> on Malunna Road (below). The town house measures 98 square metres and sits on 124 square metres of land. 
<img src="/images/2016/08/31/Screen%20Shot%202016-08-31%20at%204.19.04%20PM.png" alt="">
In <a href="https://www.realestate.com.au/property-unit-tas-kingston-123056170" target="_blank">Kingston</a> $285,000 will secure a two-bedroom, one-bathroom unit on Breeza Court (below). The 75 square metre unit sits on 236 square metres of land.
<img src="/images/2016/08/31/Screen%20Shot%202016-08-31%20at%204.20.47%20PM.png" alt="">
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What the $292,500 median apartment price gets in Hobart

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After CoreLogic recently reported a median unit price of $335,000 in Darwin, Property Observer went searching for what that got.
The two-bedroom, one-bathroom unit at <a href="https://www.realestate.com.au/property-unit-nt-malak-123261102" target="_blank">1/4 Chambers Crescent</a> in Malak (above) will set buyers back $329,000. The low maintenance unit has a two-car attached carport.  
The two-bedroom, one-bathroom unit in Brinkin at <a href="https://www.realestate.com.au/property-unit-nt-brinkin-123244874" target="_blank">7/401 Trower Road</a> (below) will set buyers back $339,000. The modern apartment measures 70 square metres. 
 <img src="/images/2016/08/29/500_trower.jpg" alt="">
The two-bedroom, one-bathroom unit in Darwin on <a href="https://www.realestate.com.au/property-apartment-nt-darwin-123215386" target="_blank">Mitchell Street</a> (below) only costs $330,000. The unit measures 101 square metres. 
 <img src="/images/2016/08/29/500_nt.jpg" alt="">
A similar sized unit in Gray at <a href="https://www.realestate.com.au/property-apartment-nt-gray-123165246" target="_blank">14/7 Hogan Court</a> (below) has been listed for $338,000. The low maintenance unit features a garden shed, low maintenance yard and an in ground spa. 
<img src="/images/2016/08/29/Screen%20Shot%202016-08-29%20at%201.21.45%20PM.png" alt="">
For $329,500 in Johnston at <a href="https://www.realestate.com.au/property-apartment-nt-johnston-123199714" target="_blank">404/205 Farrar Boulevard</a> (below) buyers can secure a two-bedroom, two-bathroom apartment. Built in 2013, the modern space is part of one of Palmerston’s first village-styled apartment complex and is leased at $540 per week until February 2017.
<img src="/images/2016/08/29/Screen%20Shot%202016-08-29%20at%201.23.18%20PM.png" alt="">
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What the $335,000 median apartment price gets in Darwin

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Over the 12 months to June 2016, 14.0 percent of all house sales and 7.3 percent of all unit sales were at a price of at least $1 million. 
To put these figures into perspective, just five years ago 7.5 percent of all house sales and 4.0 percent of all unit sales were within this price point. 
Research shows that the combined capital cities saw a much higher proportion of sales of at least $1 million over the past year. 
Across all house sales, more than 1 in 5 sales (20.9 percent) were for at least $1 million compared to 8.9 percent of all unit sales. 
Within the regional areas, the sale price for houses and units are typically lower than those in capital cities.
<a href="/images/2016/08/19/Screen%20Shot%202016-08-19%20at%202.57.08%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/08/19/Screen%20Shot%202016-08-19%20at%202.57.08%20PM.png" alt="">
 
An emerging trend worth noting is the fact that the difference between the proportion of house and unit sales of at least $1 million is much narrower in regional areas. 
In regional areas we tend to see that units are only located in larger regional markets and often are positioned in relatively expensive waterfront locations. Often the proportion of unit sales at, or above, $1 million has been above that for houses. Over the past year, 3.3 percent of all regional house sales and 3.0 percent of all unit sales were at least $1 million.
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Over the past 10 years in particular, we’ve seen a substantial rise in the proportion of sales of at least $1 million.
CoreLogic data confirms that in Sydney, over the past year more than 2 out of every 5 house sales was at least $1 million, and in Melbourne, 1 in 5 house sales was at least $1 million. Sydney had a higher proportion of total unit sales of at least $1 million than the proportion of house sales at that price point in each city except for Melbourne. (Refer adjacent table which highlights the proportion of sales of at least $1 million over the past year, a decade ago and 20 years ago.) 
There is an element of bracket creep in the numbers, however, as the supply of affordable homes selling has declined significantly over recent years, an increasing proportion of stock is selling for a seven figure sum.
<a href="/images/2016/08/19/Screen%20Shot%202016-08-19%20at%202.58.55%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/08/19/Screen%20Shot%202016-08-19%20at%202.58.55%20PM.png" alt="">
 
Demand for premium housing and within the most expensive areas of the country remains buoyant which suggests that over the coming year the proportion of sales at a price point of at least $1 million will continue to rise. 
Cameron Kusher is research analyst for CoreLogic. You can contact him <a href="https://blog.corelogic.com.au/about/">here</a>.
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ckusher-ujnxiKuFQs

$1 million property market sales on the rise: CoreLogic's Cameron Kusher

Property 101: Victorian residential property valuations issued

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House prices went higher in the June quarter, with Sydney's median house price jumping back over the $1 million mark, the latest Domain House Price Report suggested. 
It was houses on Sydney's upper north shore that rebounded to be up 5.2 percent over the quarter. The strongest region for annual growth was the city and east, with 12.2 percent house price growth.
Nationally prices rose 1.5 percent from the March quarter, led by Canberra's 3.1 percent quarterly gain and Sydney's 2.4 percent increase.
Prices fell 1.7 percent in Perth and 0.7 percent in Darwin.
Sydney's median house price sat at $1,021,968, up from $997,925 in March, but below the September 2015 record of $1,032,899. 
Units in Melbourne posted strong recent growth, but the national quarterly growth figure was 0.7 percent given declines in Brisbane, Adelaide, Perth and Canberra.
In Sydney, apartment prices rose just 0.6 percent as signs suggest supply is catching up with demand.
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Melbourne’s house prices hit a new record median of $740,995 after almost four years of growth as prices grew 1.5 per cent in the June quarter, taking the annual rate to 7.4 percent – the highest of all capital cities. It was Melbourne's west and north that had the highest annual regional growth, and the inner city which had the highest quarterly growth. The median house price rose in the west and north, at 12.1 percent and 9.6 percent respectively annually. 
Melbourne's unit median price grew 3.5 per cent over the June quarter, but just 2.7 per cent annually, to $450,933.
Adelaide house prices hit a $498,927 record price.
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Sydney's stronger upper north shore prices push Sydney's median house price over $1 million yet again

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New figures from the REIV show the median Melbourne house price increased 3.6 percent to a high of $725,000 in the three months to June 30 - the largest price growth since September 2015.
Double-digit growth was recorded in Camberwell, Prahran and Richmond. Torah, Wyndham Vale and Roxburgh Park also recorded increases with growth experienced in more affordable suburbs such as Hillside, St Albans, Sunshine West and Sunbury.  
Geoff White, chief executive officer of the REIV, said recent national data from the Real Estate Institute of Australia shows that most states, apart from Melbourne and Adelaide, have experienced moderating home prices in the opening months of 2016. 
“Just over a year ago we were seeing quarterly price growth just above five percent,” he said.
“While growth is now below four percent, it is still solid, given market conditions. There have been fewer property listings this quarter, down by around 300 weekly across Melbourne in comparison to last year.
“While fewer sellers are putting their homes on the market, prices are still extremely solid.
“The message to vendors is that the market is still bubbling along nicely – and that, given the sales results and prices, those looking to list their homes should do so prior to spring. ’Now’ is a great time to sell."
MELBOURNE MEDIAN HOUSE PRICES – JUNE QUARTER
 
<table style="width: 404px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" nowrap width="26">
 
</td>
<td colspan="2" width="149">
Top Growth Suburb
</td>
<td width="82">
Jun-16 Median
</td>
<td colspan="2" width="83">
Mar-16 Median
</td>
<td colspan="2" width="64">
Quarterly Change
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
1
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    BRIGHTON
</td>
<td nowrap width="82">
$2,715,000
</td>
<td colspan="2" nowrap width="83">
$2,030,000
</td>
<td colspan="2" nowrap width="64">
33.7%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
2
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    MOONEE PONDS
</td>
<td nowrap width="82">
$1,265,000
</td>
<td colspan="2" nowrap width="83">
$1,035,000
</td>
<td colspan="2" nowrap width="64">
22.2%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
3
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    HILLSIDE
</td>
<td nowrap width="82">
$600,000
</td>
<td colspan="2" nowrap width="83">
$505,000
</td>
<td colspan="2" nowrap width="64">
18.8%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
4
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    NORTHCOTE
</td>
<td nowrap width="82">
$1,170,000
</td>
<td colspan="2" nowrap width="83">
$990,000
</td>
<td colspan="2" nowrap width="64">
18.2%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
5
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    TOORAK
</td>
<td nowrap width="82">
$4,500,000
</td>
<td colspan="2" nowrap width="83">
$3,900,000
</td>
<td colspan="2" nowrap width="64">
15.4%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
6
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    ST ALBANS
</td>
<td nowrap width="82">
$529,250
</td>
<td colspan="2" nowrap width="83">
$462,000
</td>
<td colspan="2" nowrap width="64">
14.6%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
7
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    WILLIAMSTOWN
</td>
<td nowrap width="82">
$1,155,000
</td>
<td colspan="2" nowrap width="83">
$1,010,500
</td>
<td colspan="2" nowrap width="64">
14.3%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
8
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    RICHMOND
</td>
<td nowrap width="82">
$1,222,500
</td>
<td colspan="2" nowrap width="83">
$1,072,000
</td>
<td colspan="2" nowrap width="64">
14.0%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
9
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    CAMBERWELL
</td>
<td nowrap width="82">
$2,146,250
</td>
<td colspan="2" nowrap width="83">
$1,890,000
</td>
<td colspan="2" nowrap width="64">
13.6%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
10
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    PRAHRAN
</td>
<td nowrap width="82">
$1,370,000
</td>
<td colspan="2" nowrap width="83">
$1,210,500
</td>
<td colspan="2" nowrap width="64">
13.2%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
11
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    SUNSHINE WEST
</td>
<td nowrap width="82">
$520,000
</td>
<td colspan="2" nowrap width="83">
$462,500
</td>
<td colspan="2" nowrap width="64">
12.4%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
12
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    SUNBURY
</td>
<td nowrap width="82">
$412,500
</td>
<td colspan="2" nowrap width="83">
$371,250
</td>
<td colspan="2" nowrap width="64">
11.1%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
13
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    AVONDALE HEIGHTS
</td>
<td nowrap width="82">
$792,500
</td>
<td colspan="2" nowrap width="83">
$720,000
</td>
<td colspan="2" nowrap width="64">
10.1%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
14
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    ROXBURGH PARK
</td>
<td nowrap width="82">
$425,000
</td>
<td colspan="2" nowrap width="83">
$387,500
</td>
<td colspan="2" nowrap width="64">
9.7%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
15
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    SURREY HILLS
</td>
<td nowrap width="82">
$1,835,000
</td>
<td colspan="2" nowrap width="83">
$1,676,000
</td>
<td colspan="2" nowrap width="64">
9.5%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
16
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    WYNDHAM VALE
</td>
<td nowrap width="82">
$385,000
</td>
<td colspan="2" nowrap width="83">
$352,500
</td>
<td colspan="2" nowrap width="64">
9.2%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
17
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    SOUTH MORANG
</td>
<td nowrap width="82">
$503,000
</td>
<td colspan="2" nowrap width="83">
$461,000
</td>
<td colspan="2" nowrap width="64">
9.1%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
18
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    COBURG
</td>
<td nowrap width="82">
$870,000
</td>
<td colspan="2" nowrap width="83">
$800,000
</td>
<td colspan="2" nowrap width="64">
8.7%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
19
</td>
<td colspan="2" valign="bottom" nowrap width="149">
   CRANBOURNE NORTH
</td>
<td nowrap width="82">
$455,000
</td>
<td colspan="2" nowrap width="83">
$420,130
</td>
<td colspan="2" nowrap width="64">
8.3%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
20
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    GREENVALE
</td>
<td nowrap width="82">
$650,000
</td>
<td colspan="2" nowrap width="83">
$600,000
</td>
<td colspan="2" nowrap width="64">
8.3%
</td>
</tr>
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<td valign="bottom" nowrap width="26">
 
</td>
<td colspan="2" valign="bottom" nowrap width="149">
 
</td>
<td nowrap width="82">
 
</td>
<td colspan="2" nowrap width="83">
 
</td>
<td colspan="2" nowrap width="64">
 
</td>
</tr>
<tr>
<td colspan="2" valign="bottom" nowrap width="105">
 
</td>
<td colspan="3" valign="bottom" nowrap width="172">
 
</td>
<td colspan="2" nowrap width="109">
 
</td>
<td width="18">
 
</td>
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mick.cee-iDmgDDAmu8

Melbourne property market reaches $725,000 median price: REIV

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Median prices and price indexes are very blunt instruments for measuring real estate markets.
When it comes to charting what’s happening in property markets, price data is a long way behind the game and prone to all kinds of statistical absurdities.
Price statistics are part of a chain reaction which means most investors get into markets too late to buy well. After something fundamental changes in a market, causing activity to start rising, it can be six months before it starts to be reflected in prices and even longer before it comes to attention of consumers via the media.
If you’re reading there’s a price boom somewhere, you’ve already missed the best time to purchase by at least 12 months. But that’s the signal that sparks most investors into action.
Fortunately, there’s a better way.
It’s one of clear patterns of real estate that changes in sales activity translates into price reactions, all other things being equal. It’s sounds simplistic but it’s not - it’s merely simple. There’s a correlation between sales volumes and prices rises/falls. But the change in activity comes first and the price reaction follows later.
So there are plenty of lessons to be seen in what’s happening to sales activity in major markets around the country.
Our latest edition of The Price Predictor Index shows quite starkly how much the Sydney and Melbourne markets have declined in terms of activity. 
Boom markets seldom extend beyond three years and Sydney’s cycle has inevitably passed its peak and turned south. The vast Sydney metropolitan area, with over 700 suburbs, is bereft of suburbs with forward momentum. Many suburbs now display patterns of sharply declining sales levels – and many of those areas are now experiencing price stagnation or decline.
Melbourne has followed Sydney into the post-boom phase of the property cycle. There has been a marked downturn in the number of growth suburbs in the Greater Melbourne area, down from 105 in our previous quarterly survey to 28. Most of the ranked suburbs now have Plateau markets (sales tapering off at levels below their peak).
While Melbourne generally is fading, one region that continues to pump is the Mornington Peninsula LGA. Bayside suburbs at opposite ends of the price spectrum - Rosebud West (median house price $425,000) and Sorrento ($900,000), and several others in between - have markets where sales activity is rising steadily.
Meanwhile, the City of Greater Geelong is the No.1 market in Victoria. It has plenty of upwardly-mobile suburbs, more than any other LGA in the state and fourth best in the nation (behind three municipalities in South-East Queensland). A standout feature is the growing sales activity in cheaper suburbs such as Norlane, Corio, Belmont and Clifton Springs. This doesn’t surprise, as Geelong thrives on being an affordable alternative to Melbourne.
Torquay on the Surf Coast south of Geelong and the towns of the Bass Coast LGA - including Inverloch, Wonthaggi and Cowes – are also travelling well.
Meanwhile, and this will surprise many people, Adelaide ranks as the leading capital city market now. It has more suburbs with rising sales activity (47) than all other cities. Brisbane is the only serious challenger, with 41 growth suburbs. 
Adelaide’s No.1 municipality is the Port Adelaide Enfield LGA. This is one of the largest municipalities in Adelaide, covering the inner north and north-west of the city. Eight suburbs in this LGA have forward momentum, mostly suburbs with median house prices in the range from $380,000 to $510,000. They include Broadview, Northgate, Windsor Gardens and Largs Bay. 
Also chugging along nicely is the City of Charles Sturt, one of those solid middle-market areas that have strong property markets amid the steady rise of Adelaide.
The Charles Sturt LGA includes bayside suburbs west of the Adelaide CBD, including rising markets such as Henley Beach (median house price $690,000) and Henley Beach South ($830,000), as well as some more affordable locations such as Findon ($475,000), Kidman Park ($555,000), Semaphore Park ($480,000) and Seaton ($455,000).
Brisbane and South-East Queensland still have good activity happening. The Gold Coast remains the No.1 municipality in the nation in terms of the number of suburbs with growing sales activitity and the No.2 and No.2 LGAs in that regard are found in the Brisbane metropolitan area. 
The Greater Brisbane area has a smaller number of growth markets than three months ago, but remains considerably stronger than Sydney and Melbourne. Its leading precincts are two fringe areas on the periphery of the metropolitan area – the Moreton Bay Region in the far north and Logan City in the far south. This suggests the Brisbane cycle is at or close to its peak. But, for now, it remains one of the strongest cities.
The other standout city is Hobart. The last time Hobart captured the national imagination for property investment was in 2003/2004. Most the intervening period has been characterised by economic and population stagnation and an enduring status as the basket case of the national economy.
But all that has changed. Tasmania is a contender again and this has translated into rising performance in the Hobart property market. Sales numbers are up, prices and rents are responding, and investors are starting to take action.
It helps that Hobart has the lowest prices, high rental yields and lowest vacancies among the eight capital cities.
 
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
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terryryder-YECXbqmri2

The correlation between property sales volumes and prices rises: Terry Ryder

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The REIV has released Melbourne's most affordable suburbs according to their median price.
The lowest median comes from Wyndham Vale, 31 kilometres southwest of the Melbourne CBD.
You can get a <a href="https://www.realestate.com.au/property-house-vic-wyndham+vale-122551150" target="_blank">three bedroom home at 4 Bligh Place</a> (above) in Wyndham Vale, which is available for between $330,000 and $350,000.
 <img src="/images/2016/06/03/image2.jpg" alt="">
Cranbourne also have a few offerings for lower than the median price, with a<a href="https://www.realestate.com.au/property-house-vic-cranbourne-122644442" target="_blank"> three bedroom home with pool</a> (above) on the market for $330,000.
The REIV’s median reveals Melbourne’s most affordable suburbs
1. Wyndham Vale - $350,000
2. Cranbourne - $366,500
3. Sunbury - $370,000
4. Werribee - $380,000
5. Pakenham - $383,000
6. Hoppers Crossing - $410,000
7. Tarneit - $415,000
8. Craigieburn - $417,000
9. Frankston - $426,000
10. Mernda - $427,000
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Victoria's cheapest 10 suburbs 

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The median private treaty price for a home in Sydney is around $855,000 according to CoreLogic RP Data and units at $675,000.
The price is based on 2,899 home sales and 1,616 units.
The median price in Melbourne for homes is $612,000 from 3,604 sales and $492,250 for units from1,568 sales.
<a href="/images/2016/05/30/Screen%20Shot%202016-05-30%20at%205.13.24%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/30/Screen%20Shot%202016-05-30%20at%205.13.24%20PM.png" alt="">
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