<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.</p>

<p>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.</p>

<p>“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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.</p>

<p>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.</p>

<p><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" /></p>

<p>“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.</p>

<p>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.</p>

<p>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.</p>

<p>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>.</p>

<p><em>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></em></p>


Joel Robinson

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

<p><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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.”</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>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.</p>


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

<p>Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;</p>

<p>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;</p>

<p>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;</p>

<p>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;</p>

<p>Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;</p>

<p>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;</p>

<p>“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;</p>

<p>“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."</p>

<p>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;</p>

<p>"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;</p>


Bottega House secures landmark riverfront site in St Lucia 

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<p data-end="157" data-start="0">The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.</p>

<p data-end="459" data-start="159"><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.</p>

<p data-end="459" data-start="159">[smartcode_project:default project_id=112661 project_image_fid=359603]</p>

<p data-end="651" data-start="461"><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.</p>

<p data-end="950" data-start="653">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.</p>

<p data-end="1081" data-start="952">“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.</p>

<p data-end="1081" data-start="952">[smartcode_project:default project_id=112661 project_image_fid=355935]</p>

<p data-end="1307" data-start="1083">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.</p>

<p data-end="1522" data-start="1309">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.</p>

<p data-end="1522" data-start="1309">[smartcode_project:default project_id=112661 project_image_fid=361052]</p>

<p data-end="1714" data-start="1524">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.</p>

<p data-end="1945" data-start="1716">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.</p>

<p data-end="1945" data-start="1716">[smartcode_project:default project_id=112661 project_image_fid=359607]</p>

<p data-end="2220" data-is-last-node="" data-is-only-node="" data-start="1947">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.</p>
</section>
</section>

<p>[smartcode_project_cta:default project_id=112661]</p>


SIERA kicks off construction at Northcliffe tower Exhale

<p data-end="320" data-start="79">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>.</p>

<p data-end="638" data-start="322">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.</p>

<p data-end="864" data-start="640">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.</p>

<p>[smartcode_project:default project_id=112343 project_image_fid=352689]</p>

<p>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.</p>

<p><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."</p>

<p>“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.</p>

<p>[smartcode_project:default project_id=112343 project_image_fid=352687]</p>

<p><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.</p>

<p>“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.”</p>

<p>[smartcode_project:default project_id=112343 project_image_fid=352690]</p>

<p>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.</p>

<p>“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.</p>

<p><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.</p>

<p>[smartcode_project_cta:default project_id=112343]</p>


Eastern Suburbs buyers snap up ESTE Little Bay apartments

Residential Market

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<p class="x_MsoListParagraph"><span>GUEST OBSERVER</span></p>
<p class="x_MsoListParagraph"><span>The March quarter 2016 <span id="0.30423283972777426" class="highlight">ANZ-Property</span> <span id="0.9538933432195336" class="highlight">Council</span> <span id="0.6875761854462326" class="highlight">Survey</span> shows that<strong> </strong>the property sector is expecting much slower growth in housing construction and house prices across most markets in the coming year. </span></p>
<p class="x_MsoListParagraph"><span>This highlights the challenge that weaker growth from the housing market will present for the Australian economy in 2016.</span></p>
<p class="x_MsoListParagraph"><span>However, the <span id="0.28816580562852323" class="highlight">survey</span> also revealed a slight increase in property sector confidence, with the sharp decline in housing market confidence being offset by both a solid pipeline of planned work for property businesses in 2016 and an optimistic outlook for commercial property.</span></p>
<p class="x_MsoListParagraph"><span>Despite weaker housing sales activity in recent months and a sharp decline in house price growth expectations, the <span id="0.06578527600504458" class="highlight">ANZ-Property</span> <span id="0.9831584345083684" class="highlight">Council</span> <span id="0.8176737835165113" class="highlight">Survey</span> showed<strong> </strong>continued strong demand for Australian housing from foreign investors. In future, this measure may be impacted by tighter foreign investor policy enforcement by the Australian government (effective from 1 December 2015) and the recent volatility in China’s financial markets.</span></p>
<p class="x_MsoListParagraph"><a href="/images/2016/01/13/Screen%20Shot%202016-01-14%20at%209.19.59%20AM.png" target="_blank"><span>Click to enlarge</span></a></p>
<p class="x_MsoListParagraph"><span><img src="/images/2016/01/13/Screen%20Shot%202016-01-14%20at%209.19.59%20AM.png" alt=""></span></p>
<p class="x_MsoNormal"><span>The housing sector, which plays an important role in shaping the Australian economic cycle, will likely be less stimulatory for growth in 2016 than in 2015. The <span id="0.23203078075312078" class="highlight">ANZ-Property</span><span id="0.8833400206640363" class="highlight">Council</span> <span id="0.4701945139095187" class="highlight">Survey</span> shows that in the largest, and until recently strongest, state housing market of New South Wales, there has been a tempering of confidence and indications of the forward work schedule have also become more muted. </span></p>
<p class="x_MsoNormal"><span>Most other states and territories are steadier though, with evidence of a continued improvement in confidence in Victoria and Queensland. This is consistent with our view that there will not be a significant downturn, but a more muted profile for housing construction and prices this year. The exceptions are Western Australia, where planned business activity and confidence continue to deteriorate, and Tasmania, which has shown a significant pick-up from a low base in recent quarters.</span></p>
<p class="x_MsoNormal"><span>Overall, the housing sector’s contribution to growth will ease through softer construction activity and a reduced ‘wealth effect’ on Australian households from weaker price growth. The recent <span id="0.5294632681179792" class="highlight">ANZ-Property</span> <span id="0.06710881600156426" class="highlight">Council</span> <span id="0.538970761699602" class="highlight">Survey</span> results show that tighter regulation of investor mortgage lending and higher mortgage lending rates have weighed on housing market sentiment. </span></p>
<p class="x_MsoNormal"><span>This has also become evident in weaker mortgage lending data through the second half of 2015. Today’s <span id="0.39811774366535246" class="highlight">survey</span> data suggests that the property industry is bracing for higher interest rates and more prudent credit distribution by lenders. We expect, however, that the Reserve Bank may provide some relief for the economy this year, through interest rate cuts, if other sectors do not pick up to compensate for the slower path of housing.</span></p>
<p class="x_MsoNormal"><a href="/images/2016/01/13/Screen%20Shot%202016-01-14%20at%209.10.09%20AM.png" target="_blank"><span>Click to enlarge</span></a></p>
<p class="x_MsoNormal"><span><img src="/images/2016/01/13/Screen%20Shot%202016-01-14%20at%209.10.09%20AM.png" alt=""></span></p>
<p> <a href="/images/2016/01/13/Screen%20Shot%202016-01-14%20at%209.16.40%20AM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/01/13/Screen%20Shot%202016-01-14%20at%209.16.40%20AM.png" alt=""></p>
<p><span><em><span>Cherelle Murphy is</span><span> co-head of Australian Economics, ANZ. David Cannington is senior economist. They can be contacted <a href="https://bluenotes.anz.com/authors/our-economists/" target="_blank">here</a>.</span></em> </span></p>
<p> </p>
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jchancellor-FAypfDUnLy

Housing may be the little engine that can't any longer: ANZ Research

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<p>A median property value of $315,000 and rental yields superior to those offered by capital cities makes it worth considering Australia’s twenty-ninth biggest city as a viable option to add to a property portfolio.</p>
<p>With a population of 63,000, Wagga Wagga is New South Wale’s largest inland city. It has essential health infrastructure, tertiary education offerings through Charles Sturt University, and a quality commerce and retail hub. Wagga Wagga services a broader Riverina regional population of 200,000 people.</p>
<p><a href="/images/2016/01/13/Screen%20Shot%202016-01-13%20at%209.23.26%20AM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/01/13/Screen%20Shot%202016-01-13%20at%209.23.26%20AM.png" alt="" width="734" height="388"> </p>
<p>Located along Australia’s national (Hume) highway, transport and warehousing are important industries, with Toll Holdings a major employer. Heinz (processed food), Teys (abattoirs), Cargill (grain), and Riverina Oils &amp; Bio Energy are also employers which manufacture agricultural products from the region. </p>
<p>The Kapooka army recruitment base and the Forest Hill RAAF logistics and training base are staples to the economy.</p>
<p><a href="/images/2016/01/12/Screen%20Shot%202016-01-12%20at%2012.30.56%20PM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/01/12/Screen%20Shot%202016-01-12%20at%2012.30.56%20PM.png" alt=""> </p>
<p>The Murray Darling Basin supports the agriculture industry. Heavy clay soils have been the subject of much conjecture over the years. Parts of Wagga Wagga do suffer localised flooding, mostly in pockets to the north, the historical part of the city. The suburbs to the south of the city are newer and on higher land.</p>
<p><a href="/images/2016/01/12/WaggaWagga_BldgApprovals_2001-2015.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/01/12/WaggaWagga_BldgApprovals_2001-2015.jpg" alt=""></p>
<p>During 2015, there were approximately 77,000 jobs spread across the Riverina region.</p>
<p>For the two year period ending August 2015, the region’s growth in jobs had been neutral compared to the 3 percent national increase. Propertyology believes that the outlook for jobs in the region is a healthy one largely due to the significant extra demand for quality agricultural products from Asia’s fast rising middle class.</p>
<p><a href="/images/2016/01/12/WaggaWagga_JobsCreated_2000-2015.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/01/12/WaggaWagga_JobsCreated_2000-2015.jpg" alt=""></p>
<p>Free Trade Agreements recently signed with South Korea, Japan, and China (India is also expected to follow) paves the way for a huge opportunity for Australian agriculture. The region is Australia’s biggest producer of wine grapes, rice, and chicken, while beef and grain are also very prominent.</p>
<p>With numerous wineries and picturesque landscapes, cottage tourism is popular in the region. According to Destination NSW, visitors spent more than 2.5 million nights in the Riverina in the year to March 2015 – up by 4.4 percent on 2014. Overall visitation to regional NSW increased by 4.1 percent.<span style="line-height: 1.3em;"> </span></p>
<p>Significant job creation projects in the Region’s pipeline include:<span style="line-height: 1.3em;"> </span></p>
<ul>
<li>A $75 million Intermodal Freight and Logistics hub in Wagga Wagga</li>
<li>New dam infrastructure proposed at Lake Coolah and Narrandera</li>
<li>A $2 million freight terminal at Leeton</li>
<li>A $14 million new shopping centre in the Wagga Wagga suburb of Estella</li>
<li>A large discovery of tin reserves at Adlethan<span style="line-height: 1.3em;"> </span>
</li>
</ul>
<p>It might surprise people to know that Wagga Wagga’s 7.1 percent average annual price growth over the fifteen years since the turn of the Century was better than Greater-Sydney’s price growth of 6.3 percent over the same period. Out of 550 local governments in Australia, Wagga Wagga’s property market was ranked 240<sup>th</sup> on total return (average annual price capital growth + rental yield) over the fifteen years since 2000.</p>
<p>Average annual population growth over the last ten years of 0.9 percent is credible. A young demographic, a labour force with a good skills base, cost of housing almost 50% below the national average, and household incomes just below the national average add to the very solid fundamentals of the region’s property markets.</p>
<p><a href="/images/2016/01/12/WaggaWagga_PropertyMarket_1990-2015.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/01/12/WaggaWagga_PropertyMarket_1990-2015.jpg" alt=""> </p>
<p>Property values increased by 2 percent to 4 percent during 2015. Of more significance, property sales volumes were the highest that Wagga Wagga has seen since 2009; this is a good indication for local confidence.</p>
<p><span style="line-height: 1.3em;">As with most of Australia, building approvals in Wagga Wagga have been increasing over the last few years. The housing supply pipeline mostly contains detached houses with a few new estates popping up. The rate of new supply appears to be more sensibly controlled than many of Australia’s bigger profile cities.</span></p>
<p>The factors likely to influence housing demand and supply, combined with Wagga Wagga’s economic profile, are such that Propertyology forecasts its property market to be a steady performer and potential for a superior return to property investors than higher profile cities such as Sydney and Melbourne over the next few years. Investors could do a lot worse than Wagga Wagga.</p>
<p><span><em>SIMON PRESSLEY IS MANAGING DIRECTOR OF <a href="https://www.propertyology.com.au/" target="_blank">PROPERTYOLOGY</a>, AN REIA HALL OF FAME INDUCTEE, PROPERTY MARKET ANALYST, ACCREDITED PROPERTY INVESTMENT ADVISER, AND BUYER’S AGENT. </em></span><span><span><em>PROPERTYOLOGY WORKS EXCLUSIVELY WITH PROPERTY INVESTORS</em></span></span><span><em> TO PURCHASE PROPERTIES IN STRATEGICALLY CHOSEN LOCATIONS ALL OVER AUSTRALIA.</em></span> </p>
<p>{mijopolls 124}</p>
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spressley-sBoeMhannA

Wacky or realistic? Wagga Wagga property tipped to outperform Sydney and Melbourne from 2016: Simon Pressley

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<div><span>Sadly an inevitable consequence of the internet age for investors has been a focus on shorter and shorter timeframes. </span></div>
<div><span><br>While extra frequency of analysis can be interesting and fun, for most investors the best results will be secured by seeing the big picture and building a long term plan around it, particularly so in property investment which is ideally suited to a longer time horizon.</span></div>
<div><span> </span></div>
<div>When it comes to population and demographic projections, there are certainly plenty of cranks making forecasts, but if you're going to pay attention to any of them, then bugrudgingly it's got to be the cranks that determine policy. </div>
<div> </div>
<div>Over the short term to June 2019, the drivers of a rebound population growth from net overseas migration are clear enough, at least according to the latest available figures from the Department of Immmigration and Border Protection (DIBP). </div>
<div> </div>
<div><a href="/images/2016/01/11/A5.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2016/01/11/A5.jpg" alt=""></div>
<div> </div>
<div>
<div><strong><span style="text-decoration: underline;">But what about for the longer term?</span></strong></div>
<div> </div>
<div>It is often said that infrastructure investment is a key driver of property price growth, and this can certainly be the case whereby the multiplier effect of new projects generate economic activity, while infrastructure can also make certain suburbs a more appealing prospect. </div>
<div> </div>
<div>Of course, we have just been through a once-in-a-century resources investment boom, which temporarily caused a spike in dwelling prices in some towns, before they <a href="https://www.smartpropertyinvestment.com.au/news/14137-6-mining-towns-go-from-boom-to-bust" target="_blank">crashed</a> again as supply responded and contractors skipped town. </div>
<div> </div>
<div>Infrastructure investment is evidently only one part of the puzzle, and it needs to be coupled with a strong and sustainable growth in population, economic activity, and household wealth. I'd further add land supply constraints to that. </div>
<div> </div>
<div>In this context I took another read of Infrastructure Australia's latest estimates and projections, so let's take a 60-second look at what they say. </div>
<div> </div>
<div><strong><span style="text-decoration: underline;">"Population a key driver of economic growth" </span></strong></div>
<div> </div>
<div>The "three Ps" model of economic growth applied by the Australian Treasury has population growth at its very core: </div>
<div> </div>
<div><a href="/images/2016/01/11/B1.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2016/01/11/B1.jpg" alt=""></div>
<div> </div>
<div>
<div>In the 2015 Intergenerational Report population growth was assumed to drive for <strong><span style="text-decoration: underline;">almost half</span></strong> of the projected economic growth, measured in real Gross Domestic Product (GDP), over the next four decades.</div>
<div> </div>
<div><span>Projected population figures quoted in April 2015 by the Infrastructure Australia audit background paper were somewhat higher than the equivalent figures released in 2008, and tend to mirror previous projections by the Australian Bureau of Statistics reasonably closely. </span></div>
<div><span> </span></div>
<div>Notably, it is clearly articulated that state governments are planning for their capital cities to continue taking on a continually greater share of the state's population, particularly in the most populous states.</div>
<div> </div>
<div><a href="/images/2016/01/11/B2.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2016/01/11/B2.jpg" alt=""></div>
<div> </div>
<div><span>As such, going forward an ever greater share of the actual population growth must correspondingly take place in the capital cities, as confirmed by the projections. </span></div>
<div><span> </span></div>
<div><a href="/images/2016/01/11/B3.jpg" target="_blank"><span>Click to enlarge</span></a></div>
<div><span><img src="/images/2016/01/11/B3.jpg" alt=""></span></div>
<div> </div>
<div> </div>
<div>
<div><span>These are telling numbers indeed, but for mine it's the texture provided by the Government that is the really interesting bit:</span></div>
<div><span> </span></div>
<div><span>"Population growth is likely to have its greatest impact in Australia’s cities. Around the globe, cities are increasing their share of national population. Australia is already one of the most urbanised countries in the world. It would be unusual – if not remarkable – if Australia were to chart a materially different path from its past (or where the world is heading), at least over the next 15 years or so."</span></div>
<div><span> </span></div>
<div><strong><span style="text-decoration: underline;"><span>Looking forward</span></span></strong></div>
<div><span> </span></div>
<div><span>On the medium level projections, by 2031 Australia’s capital cities will be home to 6.4 million extra people (around 43.4 per cent more than 2011). The growth to 2061 (15.7 million persons) is around 1 million persons more than the current combined population of all of Australia’s capital cities.</span></div>
<div><span> </span></div>
<div><span>Note in particular the enormous projected growth in Greater Sydney, Melbourne, Brisbane, and Perth respectively (click to enlarge).</span></div>
<div><span> </span></div>
<div><a href="/images/2016/01/11/A4.jpg" target="_blank"><span>Click to enlarge</span></a></div>
<div><span><img src="/images/2016/01/11/A4.jpg" alt=""></span></div>
<div> </div>
<div> </div>
<div><span>Or looked at graphically.</span></div>
<div><span> </span></div>
<div><a href="/images/2016/01/11/A3.jpg" target="_blank"><span>Click to enlarge</span></a></div>
<div><span><img src="/images/2016/01/11/A3.jpg" alt=""></span></div>
<div> </div>
<div> </div>
<div><span>Looked at another way, the gradients of capital city projections show how the four largest cities are expected to garner the great bulk of the projected growth in population.</span></div>
<div><span> </span></div>
<div><a href="/images/2016/01/11/A5-1.jpg" target="_blank"><span>Click to enlarge</span></a></div>
<div><span> </span></div>
<div><span><img src="/images/2016/01/11/A5-1.jpg" alt=""></span></div>
<div> </div>
<div>
<div><span><strong><span style="text-decoration: underline;">Infrastructure plans and peri-urbanisation</span></strong></span></div>
<div><span> </span></div>
<div>
<span>Projected population growth between 2011 and 2031 is evidently huge - the equivalent of an entirely new Melbourne and Brisbane combined! - while t</span><span>he projected growth to 2061 is more than all of the existing population of the capital cities cobbled together.</span>
</div>
<div><span> </span></div>
<div><span>However, according to the Australian Government, regional development and decentralisation policies tend to have a short life span, and thus regional population growth is forecast to decline as a share of the pie:</span></div>
<div><span> </span></div>
<div>
<span>"It is unclear whether governments and the Australian community would support material ongoing interventions over the long term to encourage decentralised growth. P</span><span>roposals for investment in regional areas need to be supported by rigorous and transparent analysis."</span>
</div>
<div><span> </span></div>
<div><span>A handful of areas which are close to the capital cities might be expected to grow appreciably, being "peri-urban" locations with social and economic linkages to the capital cities. These are cited as follows:</span></div>
<div><span> </span></div>
<div><a href="/images/2016/01/11/B4.jpg" target="_blank"><span>Click to enlarge</span></a></div>
<div><span><img src="/images/2016/01/11/B4.jpg" alt=""></span></div>
<div> </div>
<div> </div>
<div>
<div><span>Notes the Government: "In the absence of employment growth in these locations, ‘journey to work’ trips to and from the capital city may increase appreciably."</span></div>
<div><span> </span></div>
<div><strong><span style="text-decoration: underline;">Infrastructure investment: cities are critical</span></strong></div>
<div> </div>
<div>The infrastructure audit background paper could hardly have been more explicit in its conclusions, so to wrap up I will simply quote it directly:</div>
<div><span> </span></div>
<div><span>"Within the capital cities, the location of new development and population growth will be critical. While the cost of providing new infrastructure in ‘greenfield areas’ is substantial, the cost of retrofitting or augmenting some infrastructure (for example transport links in tunnels) in established areas can also be high. </span></div>
<div><span> </span></div>
<div>
<span>With a few exceptions, the population case for expanding infrastructure networks in regional areas is less obvious. Arguments for investment in infrastructure in those areas will be driven more by social considerations."</span><br><span><br></span>While I don't agree with the intended policy - I don't originally hail from a capital city myself after all - it is abundantly clear that infrastructure investment will be focussed very heavily on the capital cities. </div>
<div> </div>
<div>
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
</div>
</div>
</div>
</div>
</div>
</div>
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pwargent-M4siyDbqQY

Population growth and infrastructure crucial for property price growth: Pete Wargent

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<p><span>Property has always been a hot investment for Australians, even when staying abroad.</span></p>
<p>Australia’s population is growing around 2% a year, driven by immigration. But 65% of the population live in one of the eight state or territory capital cities, meaning supply is almost always struggling to catch up with demand, according to Richard Wakelin from Wakelin Property Advisory.</p>
<p><span style="line-height: 1.3em;">Hence, investing in property is an attractive option.</span></p>
<p><span>But for those overseas trying to channel their hard-earned money here for investment and handy returns, be wary of property spruikers.</span></p>
<p><span>Regulators have voiced concerns about the price rises in Sydney and Melbourne in particular, amid reports of property spruikers "trapping" ill-advised investors in self-managed super fund (SMSF) structures.</span></p>
<p><span>In December 2014, the Financial System Inquiry chaired by David Murray suggested banning SMSFs borrowing to buy property, by removing the current exemption for limited recourse borrowing arrangements (LRBAs).</span></p>
<p><span>"We regard [recommendations to buy property through SMSFs] as investment advice and you need to be licensed and if you are not licensed we will come after you," ASIC commissioner Greg Tanzer told Property Observer earlier this year. </span></p>
<p><span>Be cautious while buying off-the-plan property. You might save on stamp duty, but this is usually offset by the GST you indirectly pay, as a developer pays 10% GST on the building costs component which will be passed on to the buyer in the purchase price.</span></p>
<p><span>Also, as you will invariably pay a premium for the new house, you could end up losing up to 20% value if you skipped proper research.</span></p>
<p><span>High-rises can sometimes prove to be a trap as there is a supply glut in some suburbs. Which means finding tenants is hard, besides the level of rent and the yield.</span></p>
<p><span>Buildings with lifts, communal gymnasiums and pools usually come at the cost of higher fees.</span></p>
<p><span>Also, avoid properties that banks may be reluctant to lend for. These could include serviced apartments, student accommodation and those in a mixed zoning. </span></p>
<p><span>If it's not good enough for the bank, meaning 'risky', it's likely not good enough for you, says Wakelin.</span></p>
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j.ballantyne1990-6AQqhLzZaK

Expats, avoid these common pitfalls before investing in property

<html><body>
<p><span>Expat buyers should be aware that many of the homes available for sale are not yet listed on the internet.</span></p>
<p><span>These are properties that estate agents or buyers’ agents know have vendors willing to sell in the new year that have yet to advertised.</span></p>
<p>Peter Kelaher of PK Property Search and Negotiators says that a large proportion of the transactions negotiated by his firm are silent sales. </p>
<p>“Agents call us to say that a property is going on the internet in a month’s time,” says Kelaher.</p>
<p>Despite the softer auction statistics, inner Sydney agents are recording a significant amount of sale activity away from the Saturday auction limelight.  </p>
<p>Anthony Birdsall at Laing Real Estate said his agency was seeing good stock sell through private treaty negotiations.</p>
<p>The penny was dropping that inner Sydney apartment prices don’t seem to be going down in a hurry as competition remains for premium offerings, he said.</p>
<p>Some agents in some suburbs around Sydney have noted fewer overseas buyers, meaning less competition for expats in their acquisitions.</p>
<p>It can be traced back to then Treasurer Joe Hockey's crackdown on illegal fo<span>reign property investment, with new rules now meaning substantial fines for real estate agents, conveyancers and migration agents who knowingly assist illegal purchases. </span></p>
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jonathanchancellor-7SQnKwU6yx

Expats warned top listings might not yet be online

<html><body>
<p><span>The weak Australian dollar is good news for Australian expats!</span></p>
<p><span>They can invest in property cheaper from money earned abroad.</span></p>
<p><span>Australians who bought property in the US during the global financial crisis when housing prices crashed in many parts of the country, including Las Vegas, can reap the benefits now as a stronger US economy and dollar mean rising rental income and strong capital growth. </span></p>
<p><span>The Australian dollar fell to six-year lows in September. It has recovered since then, and was hovering around 0.71 to the US dollar by late December.</span></p>
<p><span>A weak local dollar would only mean those Australians who brought property in US can now find a profitable route to bring their money home: invest in property in Australia.</span></p>
<p><span>According to Greville Pabst, chief executive of property valuers and consultants WBP Property Group, a falling Aussie dollar represents positive news for expatriates, with the improved conversion rate giving them “greater buying power”.</span></p>
<p><span> </span></p>
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Expats cashing in on weak Aussie dollar for property investment

<html><body>
<p><span>The Christmas break is often a time when Australian expatriates buy properties back in Australia to eventually occupy as their home when their overseas assignments end. </span></p>
<p><span>"We expect given the low Australian dollar, that this summer will see many more expats actively looking for a property back here in Sydney," estate agent Vicki Laing noted. </span></p>
<p><span>"There are great buying opportunities for cashed-up expats given the softening state of the Sydney market."</span></p>
<p><span>The Australian dollar briefly dipped this year below US70¢ for the first time since April 2009, down from US81c in January 2015, and at US$1.10 in mid-2011. It was around 71c in mid-December.</span></p>
<p><span>Many see it going and staying in the 60s during 2016.</span></p>
<p><span>Vicki Laing said while the low dollar was having an emerging impact on the willingness of Australian expats to buy, there were many familial influences always motivating them to buy property in Australia including schooling issues.</span></p>
<p><span>"These are not influenced by the state of the dollar," she said.</span></p>
<p><span>Expat interest is beginning to emerge in select pockets highlighted in early spring when three of the five registered bidders for a Belle Manly auction offering were expats.</span></p>
<p><span>It sold for $4,550,000 under the hammer with the buyer from Singapore beating buyers from the UK and the USA for 8 Bower Street overlooking Cabbage Tree Bay.</span></p>
<p><span>But many agents aren't seeing any increase in expat numbers.</span></p>
<p><span>"I would like to say that the expats are back in strength given Australia’s currency is now at a six year low however that’s simply not the case," Mosman Richardson &amp; Wrench agent Robert Simeon said.</span></p>
<p><span> "With the Australian dollar weaker, property is around 25% cheaper than the A$0.94c it was just 24 months ago for those who are paid in foreign currencies," Robert Simeon noted.</span></p>
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Lower Aussie dollar tempting expats to buy back home

<html><body>
<p><span>Cashed-up expats are well placed to really make the most of their trip back to Sydney for the 2015-2016 Christmas holiday break.</span></p>
<p><span>"Expat buyers are in a powerful negotiating position this summer holiday season given the decline in the Australian dollar," estate agent Vicki Laing at Laing Real Estate says.</span></p>
<p><span>"They are cashed-up, ready to buy," she said.</span></p>
<p><span>“They have the preparedness to offer local vendors either short or long-term settlements which suits both parties," she adds explaining that often the expats actually don’t need the house immediately and are keen to rent it back to the vendor.</span></p>
<p><span>Expatriates in senior positions overseas are looking for properties typically costing upwards of $3 million, with younger expats seeking properties selling for $1 million plus.</span></p>
<p><span>She said for many they want close proximity to the CBD with easy access to beaches, restaurants and cafes.</span></p>
<p><span>“These professionals work long hours when they return so want to be in and out of the office in a reasonable time.”</span></p>
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Expats cashed up and ready to buy this summer

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<p><span>Built at Victoria's Torquay in 2014, the architectural beauty </span><span>6 Loch Lomond Crescent has come on the market with $1.35 million plus expectations.</span></p>
<p><span><a href="https://www.realestate.com.au/property-house-vic-torquay-121175066" target="_blank">The Hocking Stuart agent Shaun O’Callaghan </a></span><span>says its "a raw, architectural two-storey experience of concrete, marble and brass, north-facing double glazed windows and bluestone pavers."</span></p>
<p><span>He adds the modern home is a unique combination of low fuss modern living under a roof garden. Around 275 sqm in floor space.</span></p>
<p><span>With sheltered central garden, the main home contains three bedrooms plus a study and two bathrooms. A self-contained studio comes with its own access at the top of a winding staircase.</span></p>
<p><span>There's plenty of concrete walls plus more concrete in the island bench in the kitchen and a fireplace in the living room.</span></p>
<p><span>The 579 square metre block cost $170,000 in 2006, which was less than the $190,000 in 2002.</span></p>
<p><span>There was a snappy sale a few doors away at 16 Loch Lomond at $815,000 of a contemporary 2008 built home. Torquay's highest recorded house price during 2015 was $2 million for 261 The Esplanade in March. There was a $2.3 million rural acreage sale too.</span></p>
<p><span>The Auhaus Architecture designed property will feature in an upcoming edition of Belle Magazine and GT Magazine.</span></p>
<p><span>Even Beacon Lighting's summer campaign.   </span></p>
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Concrete abounds at contemporary Torquay offering under garden roof

<html><body>
<p><span>Interior designer Thomas Hamel's $2.8 million lavish flat in the Sydney CBD block, Broughton House wasn't ever going to be enough for the boutique finance advisor Simon Mordant and his wife Catriona.</span></p>
<p><span>The arts philanthropists added the adjoining apartment for $1.3 million last month. Their initial space was 240 square metres, Hamel's one-bedroom apartment with three formal living rooms.</span></p>
<p><span>The latest 118 sqm addition means they own a third of the top floor on the seventh of the 19th century converted wool store.</span></p>
<p><span>The Mordant's downsized from their $13.35 million 938 sqm beachfront Point Piper apartment.</span></p>
<p><em>This article was first published in the Saturday Daily Telegraph.</em></p>
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