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

Joel Robinson

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

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

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

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

Bottega House secures landmark riverfront site in St Lucia 

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

SIERA kicks off construction at Northcliffe tower Exhale

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

Eastern Suburbs buyers snap up ESTE Little Bay apartments

Residential Market

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Today I met with two of my lovely clients to celebrate the completion of their dual occupancy project. Friends Karen and Katie decided to do a joint venture (JV) with the goal of each ending up with a villa after subdivision.
The ladies were not new to property, they both own their own homes and at times an investment property or two but as corporate business women were understandably time poor.  Their goal was to build their property portfolio and share the experience of their first development.  By working together, they would have each other to bounce off any worries and fears as well as celebrate the major milestones.
Their JV worked like a dream as they each brought a different skill set to the project with Karen being focussed on fine detail and Katie on big picture.
"The one thing we didn't want was the development project and JV to impact on our friendship" Katie explained. 
Karen found that it was easier and less stressful going into the JV and her first development project than it was buying her first pre-built investment property.  “Katie and I trusted each other implicitly and we trusted Property Bloom’s experience” Karen said, “and that trust was proven true.  Without exception Property Bloom took care of all the details, keeping everything on track”.
Karen and Katie’s project commenced in October 2014 and was completed within fourteen months.
The moment the land was secured Property Bloom began the DA approval process enabling the DA to be lodged before settlement on the land.  There is a lot of work involved in getting a DA prepared -  detailed survey, geotechnical report and engineering just to get the plans finalised before then organising the Statement of Environmental Effects, Basix report, Bushfire report and plans and external materials and colours to be approved by the land developer. 
But that was the easy part.  The bigger challenge was getting the actual approval from Council!
Now, admittedly, Christmas did fall whilst the DA was in council so that didn’t help but we were surprised after so many weeks of processing and with the DA approval just within in our grasp (or so we thought) that the town planner then demanded a change to the entire roof design.  This involved changes to the engineer's drainage plan as well so it was not a small change.  We were furious with the lack of consistency as a previous and very similar DA sailed through council without this change request.
Once we had the DA approval in our hands we handed over the Construction Certificate approval to our private certifier who is markedly faster than council. There was no further hold ups and construction commenced in July 2015.
By Christmas 2015, less than 6 months later, the project was completed!
The villas came up beautifully and were quickly leased at a good rent with the ladies enjoying close to a 7% gross yield and very pleased with the equity created.
But that wasn’t the end of it.  The final, and biggest decision of all was……. how to divide the villas? Who would end up with which one?
 The villas were almost identical in size but to keep them unique they had different floor plans, different front facades and internal finishes and slightly different private outdoor space sizes.  After some discussion and internal agonising, it was decided that a flip of a coin would determine the outcome.  Let fate decide!  So in a nail salon Katie and Karen stood watching as a stranger they'd asked, flipped a coin into the air.
The villas will be split by way of a Deed of Partition which is a great way for joint venture partners to work together and then end up with a property each. Talk to your solicitor about how this is managed as you must ensure the Deed is formed before the subdivision of the villas is registered.
“The best things we liked about this project were the ease with which it was executed and the stunning look of the finished villas which we could easily imagine living in ourselves”, said Karen.   “All the details were managed by Property Bloom.  “I was doing an extension on my home at the same time and the stress I went through in organising that project was divorce material…. almost.  In comparison, the development of our villas happened in the background, any stresses and concerns absorbed by Jo and her team.  And the best part is that my friendship with Katie has never been stronger, our trust in each other proven.”
 
Jo Chivers is chief executive officer of property development project managers <a href="https://www.propertybloom.com.au/about" target="_blank">Property Bloom</a>.
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jochivers-wq5Bp59R5a

Developing property and friendships: Jo Chivers

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There is growing demand from Geelong locals looking to capitalise on increased median house prices in the area and downsize, as indicated by the sale of a number of new homes over a recent open day weekend at Active Lifestyle Estates Lara, owned and operated by Ingenia Communities.
The dwellings are located at 40 Watt Street, Lara, 20 minutes north of Geelong. New homes are available from $175,000 (with exit fee), or alternatively, from $189,000 (with no exit fee). These homes are less than half of Lara’s current median house price of $378,000 and well below Geelong’s current median house price of $632,000. 
A high level of interest was recorded from overs 45s, according to the developers.
Ingenia Communities general manager, Sales, Kate Melrose said the majority of open-day attendees were Geelong locals looking for more than just a new home.
“With more than sixty homes already sold in the community’s first two stages, we have fielded exceptional levels of enquiries ahead of our next stages and coming display village,” Melrose said. “The feedback from our open day was that locals were not only looking to downsize but to also improve their overall lifestyle."
“By providing choice, purchasers can select based on their individual needs and lifestyle, while both options deliver a brand new home in a safe and secure community, and the opportunity to keep 100 per cent of the capital gains without having to pay stamp duty or body corporate charges,” Melrose said.
The growing population in southern Victoria has seen the local demand for affordable housing skyrocket, with estimates that almost 40 per cent of Geelong’s population will be aged 50 or over by 20313.
According to senior living finance expert and author Rachel Lane, homeowners could boost their cash reserve by tens or hundreds of thousands of dollars by selling while prices were high and moving into more affordable accommodation.
“While housing affordability is generally considered a young person’s issue restricting entry to the market, it is also a major problem for those that do own a home but rely on a low weekly income,” Lane said.
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jonathanchancellor-7SQnKwU6yx

Victoria's Geelong project sees beeline from over 45s for affordable housing project

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Toowoomba, Queensland’s largest inland city, is approaching the peak of the residential market.
But prices are not looking to soften as gentrification takes hold , according to HTW’s March property clock -- a simple broad brush means to indicate where property prices are and where they are going.
<a href="/images/2016/03/16/Screen%20Shot%202016-03-16%20at%209.27.30%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/16/Screen%20Shot%202016-03-16%20at%209.27.30%20AM.png" alt="">
 
As at the beginning of 2016, Toowoomba’s median house price remains affordable at approximately $370,000 and despite a noticeably softening market sentiment, sale prices have not yet shown signs of decline. 
However, it is apparent that the peak of the residential market has passed with agents reporting reduced investor enquiry. 
With current property climate in mind, investor interest cooling and upgrader enthusiasm easing, home owners are turning to regeneration and renovation. 
The key areas where this gentrification is most obviously taking hold is in the affordable suburbs of South Toowoomba, North Toowoomba, Mount Lofty and Newtown. 
The traditionally less sought after suburbs of Rockville and Harlaxton are slowly transitioning to gentrification hot spots due to their affordability.
At a higher price point, the style of dwelling common in East Toowoomba and scattered throughout established parts of Toowoomba, being older style early 1900s cottages, lend themselves to current renovation trends and modern extensions.
Not surprisingly, due to the steady trend of rejuvenation of this type of property, the median price in East Toowoomba is $445,000, significantly above that of the broader Toowoomba area.  
As for the medium to long term, while the peak of the Toowoomba residential property market has passed, these gentrifying areas look set to maintain current levels of demand and value, however as is expected across the entire Toowoomba region, some slowing in sales activity may occur. 
<img src="/images/2016/03/17/image2-1.jpg" alt="">
As an example of the property market activity, Property Observer found a duplex at <a href="https://www.realestate.com.au/property-unit-qld-south+toowoomba-121421586" target="_blank">1 &amp; 2/126 Perth Street, South Toowoomba, Qld 4350</a> (above) was recently sold for $480,000 through Colliers International.
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Toowoomba near peak of market cycle, but prices not softening as gentrification takes hold: HTW

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The Gippsland region stretching from Melbourne's eastern outskirts to the state border in Victoria's far east was at the start of the recovery period in Herron Todd White's March property clock, which also offers a peak into gentrification.
<a href="/images/2016/03/16/Screen%20Shot%202016-03-16%20at%209.27.30%20AM.png" target="_blank" style="line-height: 1.3em;">Click to enlarge</a>
<img src="/images/2016/03/16/Screen%20Shot%202016-03-16%20at%209.27.30%20AM.png" alt="">
Sale/Traralgon
Sale rentals have hit some of the highest returns in years. With strong industries and the RAAF base this is expected to be maintained. 
Traralgon land prices in popular estates are at very affordable values compared to three to five years ago. This area has consistent housing construction at affordable prices. 
Warragul/Drouin 
Warragul and Drouin estates are growing with more land available and values increasing. Increasing demand in this location is due to its proximity to Melbourne. 
Koo Wee Rup/Lang Lang 
Koo Wee Rup and Lang Lang land values have increased in the past six to 12 months with construction demand strong and building prices very affordable. The reasons for the increasing demand include the area’s close proximity to Pakenham and being only 45 minutes to Melbourne.
<img src="/images/2016/03/17/700_gipps.jpg" alt=""> 
Property Observer found a three-bedroom unit with a garage at <a href="https://www.realestate.com.au/property-unit-vic-warragul-121611174" target="_blank">1/25 Henshall Street, Warragul, Vic 3820</a> (above) which was sold for $215,000 through Steadfast Real Estate.
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Gippsland's proximity to Melbourne helping land prices, but still affordable: HTW

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Most property investors are out there chasing the big growth. Many of them end up disappointed citizens, especially those who chase it in the wrong places, like resources-influenced regional centres.
Very few places sustain that big growth for more than short periods.
There’s a lot to be said for a less popular but much safer and often more profitable policy: chasing consistency.
In our quarterly survey of sales activity around Australia, a report we call The Price Predictor Index, we have a prominent spot for the consistent markets. I tend to think of them as The Stayers of residential real estate.
They sit in the middle of the market, between the growth locations and the declining ones. These Consistency markets record steady rates of sale, quarter after quarter, year after year.
These locations, above all else, represent safety for investors. They are usually not boom markets, but have the valuable quality of solidity and consistency. And markets with this high level of even performance usually produce solid price growth over time.
Bowral in the Southern Highlands of NSW is one of those wonderfully consistent markets. It tends to sell between 100 and 110 homes every quarter, regardless of what’s happening in the wider market or the general economy.
In the past 12 months its median house price has risen 14% to $710,000 – and over the longer-term it has averaged 7% per year for the past decade.
The Sydney suburb of Sutherland has a modest median price, by Sydney standards, of $780,000 but it is good performer on price growth, on the back on a steady sales performance.
Over the past three years it has recorded between 78 and 88 sales virtually every quarter. No dramatic peaks and troughs, just good steady performance. Its median has grown 13% in the past year and it has averaged 9% per year over the past decade, which means values doubling in eight years.
The Brisbane suburb of Bulimba is another of those stayers – selling a similar number of properties quarter after quarter, year after year. Its median price has grown an average of 7% per year over 10 years, including 9% in the past 12 months, and its median is now above a million dollars.
These case studies – and there are many more like them - show that Consistency markets can produce good price growth and, in particular, steady long-term capital growth rates.
And they can be found anywhere, including in city markets that are generally in decline.
Perth is towards the bottom of the pile in terms of capital city markets. In the new Autumn edition of The Price Predictor Index, we can now identify only four suburbs with any kind of forward momentum in the entire Perth metropolitan area. But one Perth suburb has grabbed our nomination as the most consistent market in the nation.
Middle-market Willeton has sold between 80 and 87 homes per quarter in 10 of the past 11 quarters (with one quarter recording 100 sales). In the past six quarters, sales have been 83, 84, 83, 86, 87 and 81. Willeton is in the Canning LGA in the southern suburbs of Perth and currently has a median house price of $755,000.
While Perth prices generally are going backwards, three years after that market peaked, Willeton’s median price grew 3.4% in the past 12 months and has grown an average 7% per year over the past three years. Its long-term performance is 8.5% per year, which means values doubling in 8-9 years.
It’s a good example of how The Stayers perform, even when surrounded by a broader market in decline.
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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The Stayers perform, even when the market is in decline: Terry Ryder

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Queensland's Rockhampton is approaching the bottom of market according to HTW's property clock for March, which also predicts that 2016 won't be an easy year for the city and surrounding residential markets.
The valuation firm also discusses the impact of gentrification on the city. 
HTW's property clock is a simple broad brush means to suggest where property markets are and what direction prices are moving in.
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After a tough 2015, confidence still appears to be down, with many resource and associated service industries still dealing with tumbling commodity prices and a declining workforce.
The lower end of the market (sub $300,000) has experienced some of the worst declines in value across the region with a significant number of mortgagee sales recording drops in value from 20 to 40% against their previous sale prices which can generally be any where from one to eight years prior. The worst affected areas include Gracemere, Zilzie and older established suburbs of Rockhampton such as Depot Hill, Berserker and Park Avenue. 
This has largely been the result of a mass exit of investors leaving the market reliant upon first home owners and lower income buyers with substantial budget restraints. 2016 will be another tough year for the localities and as such they should be treated with caution however at the same time they may present opportunities should we reach the bottom of the property cycle, but as always this is something very dif cult to ag at the time. 
Better quality localities and properties where owner- occupiers are active in the medium price range ($300,000 to $500,000) appear to be holding their values. Suburbs include large areas of the Capricorn Coast, Norman Gardens, Frenchville and Wandal. Despite these areas holding well, it is unlikely that they will experience any substantial gains in value throughout 2016.
Medium to high-end properties above $500,000 have been also holding relatively well and include suburbs such as Rockyview, parts of Norman Gardens, and The Range.
In terms of gentrification, Rockhampton has been going through it since late 2005 when the first high-rise unit complex in over 30 years was completed along the river bank.  
Since then there have been an additional six high-rise unit complexes completed comprising a mix of permanent and short term accommodation and of late the addition of various restaurants and cafés in the Empire and Edge buildings which were both completed in the past five years. Victoria Parade and Quay Street have become the heart of the city and this is supported by Council’s recent announcements regarding the funding and approvals for the Rockhampton Revitalisation Concept Plan, which focuses on the Fitzroy River from Quay Street to William Street.
A set of new pathways, landscaping concepts, memorial and historical features are all incorporated into the project. Rockhampton has seen an increase in the number of small cafés and boutique shops with a noticeable increase in alfresco and street side dining areas. 
Within Rockhampton city itself there is a slow but gradual phasing out of old timber and fibro dwellings and replacement with more modern charismatic small and compact unit developments, often available for under $300,000. Given that the current economic climate is considered to be somewhat weak, this process may take some time however the diversity of the local economy is sure to keep the gentrification process ticking over.  
As an example of a sale, a three-bedroom apartment at <a href="https://www.realestate.com.au/property-apartment-qld-rockhampton+city-110897251" target="_blank">303/6 Victoria Parade Rockhampton City Qld 4700</a> went for $433,000.
 
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In summary, 2016 sees many challenges facing the Rockhampton market and values will be dependent on a range of factors including the mining/resource industry outlook, state and local council initiatives and on a positive note the local agricultural industry, particularly beef is experiencing record cattle prices which are forecast to continue and will no doubt act as a positive indicator for the region. 
 
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Rocky year ahead for Rockhampton: HTW

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Staying ahead of the gentrification curve can prove profitable to investors, say HTW as it reports the NSW North Coast progressing from a rising market in February to approaching the peak in March, according to the latest HTW property clock.
Lismore / Casino / Kyogle
The council areas of Lismore City, Richmond Valley and Kyogle generally do not have specific areas which are undergoing gentrification or a metamorphosis from an ugly duckling to a knockout swan.
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One possible market segment that benefits from improved appeal are those areas which over an extended period of time have transferred from public or government ownership to private ownership, such as Department of Housing properties. Generally, once such properties have come under private ownership they are renovated and subsequently rented as an investment product. As an example, most of the houses in the former Department of Housing estate on the northern ridge of Lismore Heights are now under private ownership. 
Another form of gentrification, albeit currently at a minor scale, is the identification of residential properties on traditionally quarter acre sites (1,012 square metres) close to the CBD being further improved by subdividing the land (minimum 400 square metres) or improving the property as a dual occupancy by building an additional dwelling or granny flat.
In these regional areas, any form of gentrification is only beneficial if the expected costs are more than accounted for or outweighed by the improvement in market value as an investment product. Therefore, thorough investigation and identification of the key cost factors would be crucial to success.
The ongoing low level official interest rates will continue to have a steadying impact on the overall residential market throughout 2016.
One area to keep a close eye on for 2016 is the affordable but modern detached duplex unit. Having a smaller foot print area, i.e. strata site, compared to the modern four-bedroom, two-bathroom, double garage home on typical freehold site of 650 square metres plus, not much is really sacrificed. 
The detached duplex design can vary like any other freestanding residence and still possess a similar number of rooms and garaging on a smaller site and smaller open space by employing split level, part two-level or two-storey designs. More and more people are starting to realise that a large backyard is not a necessity for young couples or mature aged couples with no children or pets.
The prices are generally lower than their larger counterparts and yet still provide good quality improvements and living accommodation. It is now commonplace to note that most corner sites in new residential subdivisions are specifically targeted for this type of development. Even within existing residential areas, some property investors are actively seeking out larger residential properties close to the CBD, i.e. houses on corner quarter acre blocks (1,012 square metres) to carry out dual occupancy development of the existing residence rather than starting from scratch with freshly developed parcels of land in a new estate.
Generally, properties within the $250,000 to $350,000 price bracket are likely to be the main price brackets receiving most of the activity within Lismore City for 2016, whereas it would be slightly lower in Casino and Kyogle at $200,000 to $300,000. However, there is an increasing supply of modern and semi-modern homes in the $400,000 plus bracket for Lismore City, thanks in part to the development of the modern residential estates dotted within Goonellabah.
The most affordable property type will continue to be the older stock of the typical circa 1970s and 1980s, two-bedroom brick and tile units of which little have sold in 2015. This is likely to continue throughout 2016, however at affordable price levels of $125,000 to $175,000 (depending on whether renovated or not) and still generating a reasonable rent return in areas close to the CBD and major educational facilities such as Southern Cross University. Good buying opportunities may present themselves providing the body corporate fees are kept in check and to a minimum.
One area of caution is the traditional 100 acre hobby farm or rural lifestyle block in semi-remote to remote localities. With the possible threat of increasing costs to maintain such properties and distance from the main centres, their popularity is continuing to fade. Already at the extreme end of the scale there is a significant fall (up to 50% in some cases) in market value for timbered, remote parcels of 100 acre lots with limited or no services over the past three to five years.
In summary, HTW expect the residential property market for Lismore, Richmond Valley and Kyogle Council areas for 2016 will continue with some assurance of stability. While unlikely to see major growth, quiet confidence should remain while couched in the hope that a low interest rate environment remains, even if there are modest rises in the banks’ rates.  
Ballina / Lennox Head / Byron Bay / Mullumbimby / Ocean Shores
The 2016 year within the Ballina residential property market could go two different ways. The strong demand and quick turnover of 2015 may continue or it could slow down around the middle of the year. 
Interest rates are still low which is one of the driving factors of first home buyers and investors. If market conditions begin to slow with interest rate increases and a slowing Australian economy, we could possibly see a slump. This could force investors to sell, which in turn would increase stock levels. However, with the new Pacific Motorway recently completed between Tintenbar and Ewingsdale, we could see a trend of Queensland buyers coming down into the Far North Coast and in particular the Ballina region.
If overall economic conditions remain unchanged, the overall market in 2016 will remain steady for the Far North Coast.
The most noted area of gentrification within the coastal localities is the ongoing development of the Ferngrove and River Oaks estates in Ballina.
The previous local stigma associated with these subdivisions due to a combination of the landfill requirements and difficulties in the land market have finally subsided. Land values are increasing in each new stage release and demand remains strong. The once swampland is now turning into a well established modern looking estate. The young (first home owners) and older (retirees) are building on the manageable, some would say, small parcels of land. Residents of these estates cannot complain about potholes or having nowhere to take the kids. New smooth bitumen roads and ample amounts of safe pathways and parks with children’s play equipment also add to the increased market acceptance and gentrification of this precinct within Ballina. 
The property markets in Sydney and Melbourne reportedly slowed in the later part of 2015 which in turn will see the coastal resort towns of Byron Bay and Lennox Head remain steady and possibly ease towards the middle of the year (there is generally a lag). 
As these towns are generally driven by interstate lifestyle changers, the market conditions upwards of $1 million will be the first indicator that the market has eased.
The lack of stock and strong demand have resulted in the Byron Bay area having tremendous growth over the past 18 months, however economic forecasters and global uncertainty will have an impact.
The lower level or entry points circa $400,000 to $700,000 will remain steady and fare better than the prestige market due to the lack of housing and strong rental returns. Investors will still see opportunity in this price bracket. 
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Examples of recent sales include a three-bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-ballina-119709471">1/2 Marge Porter Place Ballina NSW 2478</a> (above) for $310,000 recently, while a three-bedroom townhouse at <a href="https://www.realestate.com.au/property-house-nsw-byron+bay-121889094">8/2 Cemetery Road Byron Bay NSW 2481</a> (below) sold for $585,000.
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Byron Bay shows most promise in North Coast price growth: HTW

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GUEST OBSERVER
Australia is well regarded internationally as one of the world’s most liveable places. Australians continue to think so too with 99 percent of us agreeing that this is a great place to live! 
In our second annual survey, we take another look at what makes this country such a special place to live. Relative safety &amp; security, general lifestyle &amp; friendliness and access to quality healthcare continue to be valued most highly, with open spaces, climate and environment also important drawcards. Our people, an acceptance of diversity and love of sport have also become bigger drawcards, but the economy and education are contributing less.
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<div class="column">Our relative safety &amp; security (36 percent) and general lifestyle &amp; friendliness (35 percent) continue to be cited as the key factors making Australia such a great place to live. They also resonated with more Australians in 2016 than in last year’s survey (33 percent and 32 percent respectively). Access to quality healthcare was also viewed as key positive for 30 percent of Australians, albeit less than in 2015 (33 percent).</div>
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 Access to open spaces, beaches and parks, climate, clean environment &amp; unique natural wonders continued to be highly valued by around 1 in 4 Australians.
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 It was however notable that a strong and stable economy (18 percent) contributed less to liveability in Australia in the 2016 survey (21 percent in 2015), which is perhaps not surprising given weaker economic growth outcomes last year. There was also a notable fall in the number of Australians (15 percent) citing access to quality education as a driver of liveability (19 percent in 2015).
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 On a positive note, our people and their acceptance of diversity was recognised as a bigger drawcard by 17 percent of Australians (up from 13 percent in 2015), while the number who valued our love of sport climbed to 11 percent (8 percent in 2015).
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 The national results hide some big differences between states. For example, safety &amp; security was valued most highly in SA/NT (43 percent) and contributed least in WA (31 percent) and Victoria (31 percent). Climate was a much stronger drawcard in WA (29 percent) and Queensland (28 percent) than in Victoria (17 percent) and Tasmania (14 percent). 
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<div class="column">People and an acceptance of diversity was most highly valued in NSW/ACT (21 percent), but access to quality education (17 percent), a love of sport (14 percent) and entertainment options (9 percent) resonated most with Victorians, while general lifestyle &amp; friendliness was a much bigger factor for Tasmanians (54 percent).</div>
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New South Wales / ACT 
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In NSW/ACT, relative safety &amp; security (40 percent), general lifestyle &amp; friendliness (35 percent) and access to quality healthcare (29 percent) were the most commonly identified factors making Australia a great place to live. It was however, notable that safety &amp; security was valued more highly in NSW/ACT than in all other states bar SA/NT. 
People and acceptance of diversity (by gender, race and religion) also resonated higher in NSW/ACT than in any other state (21 percent), but it was also notable that a love of sport (8 percent) played a much smaller role relative to the national average. 
For all other factors, residents of NSW/ACT were broadly in line with the average Australian. 
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Victoria 
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General lifestyle &amp; friendliness (35 percent), quality healthcare (33 percent) and safety &amp; security (31 percent) were the most commonly identified factors in Victoria. Victorians valued healthcare equal highest with WA among the states, but safety &amp; security contributed equal least along with WA. 
Victorians led the country in terms of access to quality education (17 percent), their love of sport (14 percent), entertainment options such as restaurants and cinemas (9 percent) and for transport and other public infrastructure (6 percent). 
Victorians were however notably below the Australian average when it came to a clean environment and natural wonders (19 percent), climate (17 percent) and social welfare system (15 percent).  
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Queensland 
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Safety &amp; security (33 percent), general lifestyle &amp; friendliness (32 percent) and access to quality healthcare (32 percent) were the main factors making Australia a great place to live according to Queenslanders - albeit contributing less than average except for healthcare. 
Queenslanders (28 percent) rated climate notably higher than in most other states. They also valued access to open spaces, beaches &amp; parks (26 percent) and a strong and stable economy (20 percent) slightly more than the average Australian. 
It was however notable that employment and job prospects (1 percent) contributed less in Queensland than for the average Australian, as did transport &amp; other public infrastructure (1 percent). 
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Safety &amp; security (43 percent) was valued higher in SA/NT than in any other state. General lifestyle &amp; friendliness (33 percent), access to open spaces, parks &amp; beaches (26 percent) and climate (24 percent) were the next biggest drawcards. 
Housing and housing affordability (7 percent) was valued higher than all other states - likely due to lower median house prices. Love of sport (14 percent) was also a much bigger draw card in SA/NT. 
In contrast, healthcare (22 percent) and a clean environment &amp; unique natural wonders (19 percent) contributed much less than it did for the average Australian. Not surprisingly given the economic challenges facing SA, a strong &amp; stable economy (15 percent) also contributed less. 
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Western Australia 
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West Australians placed the highest emphasis on general lifestyle &amp; friendliness (36 percent), access to quality healthcare (33 percent) and safety &amp; security as key factors making Australia a great place to life, albeit safety&amp; security rated equal lowest of all states. 
West Australians did however value access to open spaces, beaches &amp; parks (30 percent) and climate (24 percent) highest in the country. Social welfare (21 percent) was also valued somewhat more. 
In contrast, people &amp; acceptance of diversity (14 percent), love of sport (7 percent) and entertainment options (e.g. restaurants, dining out) contributed less to their notion of what makes Australia a great place to than any other state.  
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Tasmania 
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Significantly more Tasmanians valued general lifestyle &amp; friendliness (54 percent) higher than Australians living in any other state. 
Notably more Tasmanians also highlighted safety &amp; security (42 percent), clean environment &amp; natural wonders (40 percent), social welfare system (24 percent) and (perhaps somewhat surprisingly given the under-performance of the local economy) a strong &amp; stable economy (24 percent) higher than in any other state. 
In contrast, access to quality healthcare (18 percent), climate (14 percent), access to open spaces, beaches &amp; parks (14 percent) and education (9 percent) contributed much less than in any other state. 
For more information, <a href="https://www.nab.com.au" target="_blank">click here</a>.
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NAB Special Report: What makes Australia a great place to live?

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Home values across Melbourne have substantially outperformed the regional areas of the state, according to the NAB Residential Property Survey.
While Melbourne home values rose by 11.2 percent over the past twelve months, the next best performing regions across the state were the primarily agricultural regions of Goulburn and Wimmera, where home values increased by 5.6 percent and 5.5 percent respectively.
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Melbourne’s strong rate of growth started to show some tentative signs of easing over the final quarter of 2015, with home values slipping 1.9 percent lower. 
At the same time auction clearance rates moderated from the high 80% range down to the mid 60 percent range indicating some rebalancing towards buyers in what has been a strong sellers’ market since mid-2012.
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The supply-demand fundamentals for the Melbourne housing market have not been as supportive as those in Sydney, despite strong population growth, due to relatively stronger construction rates over the years. Nevertheless, the NAB Residential Property Survey shows that foreign demand tends to be particularly strong in Melbourne, which in conjunction with low interest rates – contributing to local borrowing capability – has seen prices grow quite strongly. 
NAB has lowered its expectation for house price growth to 2% in 2016 (from 11.7% in 2015).
Price momentum is expected to slow, however, as affordability has deteriorated considerably in an environment of little to no real household wage growth. NAB also anticipates an extremely large supply response to record high prices in Melbourne, particularly in the inner city unit/apartment market, which will outpace demand. In combination with a more subdued population growth outlook and tighter credit conditions from prudential regulator changes, these factors will weigh on future price growth. 
Nevertheless, improving economic conditions in the state are expected to maintain solid rates of employment that will provide underlying support to house prices, although price growth will be more modest than in recent years. 
The NAB Property Survey reported a notable deterioration in market sentiment during the final quarter of 2015, although the deterioration was not as pronounced as that seen in the other major eastern markets, and Victoria is now the strongest state overall (replacing NSW).
Additionally, respondent expectations for house price growth in the next 12 months roughly halved, despite an increase in rental expectations, while foreign buyer demand for both new and existing properties eased off.
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As a result, NAB has lowered its expectation for house price growth to 2 percent in 2016 (from 11.7 percent in 2015). Given the anticipated ramp up in supply of units/apartments, and uncertainties over foreign and investor demand, prices for this type of housing are expected to fall 3 percent in 2016.
 
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Melbourne house values tipped to increase by two percent, units expected to fall by three percent: NAB

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Australia is experiencing the biggest apartment development boom in its history — with an estimated 80,000 apartments under construction in our major capital cities.
There's another 117,000 approved or in the off-the-plan marketing phase, according to a recent CommBank Property Insights report.
The highest concentration of apartment completions in absolute terms, in the next two years, will be Brisbane and inner Melbourne, where as a result, owner occupiers and investors have been warned of the prospect of rising vacancy rates, reduced rental income and possible falls in property values. 
The broader geographic spread of Sydney completions across a large number of suburbs, together with a greater depth to the market, was likely to mitigate these risks, according to Kevin Stanley, head of property strategy and research at the bank.
He says Sydney stands out nationally as a city with the most even distribution of apartment developments across the metropolitan area, which will help boost their occupation. He stressed the importance of access to amenities and transport. He says Sydney's 550 new proposals will typically have 160 apartments.
His list of top suburbs for nearing completions of apartments has Mascot heading NSW with around 1400 completions likely during 2016. Next busiest was Burwood at 650; Wenworth Point with 530 and Burwood scheduled for 500 new flats. 
He also did the same for 2017 which sees an anticipated 2100 unit completions in the Sydney CBD and 1500 in Parramatta.
Stanley noted while metropolitan Sydney accounts for 38 percent of Australia’s expected population growth by 2017, the city has just 33 percent of the apartments proposed or under construction nationally.
Our higher land prices and more restrictive planning laws are impediments to the apartment development sector, and look like continuing Sydney's undersupply of housing.
"This situation is also pushing upward pressure on pricing," he concludes.
Unlike Melbourne at 25 per cent, the Sydney CBD accounts for just seven per cent of the pending Sydney metropolitan total.
Sydney's largest sub-region for future apartments is the most distant from the city — with Western Sydney constituting around 23 per cent of forward supply including Liverpool and Carlingford. 
Ofcourse the analysis anticipates supply is likely to adjust to a more sustainable level should events dictate.
Some projects may not get approval, other's wont get bank finance and some developers will delay their projects depending on where they see the property cycle.
I recall Hegney Property Group chairman Gavin Hegney saying apartments are always in over-supply or under-supply because of the "lumpy nature" of the market.
While a housing estate can release or hold back land allotments in stages, you can’t do that with an apartment tower, he noted.
As more Sydneysiders embrace apartment living, I'd suggest the CommBank report ought be the backdrop to your own solid research around the markets of interest to ensure your decisions whether buying or selling, now or later, comes with data, local insights and your own personal aspirations.
This article was first published in the Saturday Daily Telegraph. 
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