<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>
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<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>Owner occupiers are expected to return to the market in force as their choices widen and the outlook for interest rates remains positive, according to a report by the the Urban Development Institute of Australia (Queensland) Research Foundation.</p>
<p><span>The third Industry Insights Report talks about the trends in land, house and apartment sales, supply and prices across Queensland.</span></p>
<p><span>It reveals a marked shift in the residential property market in 2015, with the focus shifting from regional Queensland to the South East. </span></p>
<p><span>Prepared by The National Property Research Company (NPR Co), the report gathers market intelligence from industry players – real estate agents and developers across 15 regional areas.</span></p>
<p><span>South East Queensland hotspots include Brisbane, Gold Coast, Ipswich, Logan and Moreton Bay, all showing price growth in land and house sales volume. Medium to high density median prices – houses and apartments – remained fairly static, with growing sales volume, this is a reflection of the strong supply into the market in this category.</span></p>
<p><span>The report also reveals:</span></p>
<p><span>• In Brisbane, almost all respondents reported a rising market across all forms of housing over the last six months, with the majority view that we were yet to see the top of the cycle for apartments. Interest rates and population growth were cited as the most positive market influences.</span></p>
<p><span>• The outlook for the Sunshine Coast is positive. Whilst median price rises were slight across the board, the hospital nearing completion, investigation into improved transport infrastructure, economic diversification and improving domestic tourism figures buoyed the market.</span></p>
<p><span>• In Ipswich, the market is steadily rising, although there was concern about the negative impacts of low employment growth and infrastructure investment that may limit growth. Two thirds of respondents reported healthy levels of demand from international buyers.</span></p>
<p><span>• Logan, Gladstone and Toowoomba led the state for land, with modest growth in land volume sales. Whilst Gladstone is coming off a low base, the outlook is more positive into 2016. Toowoomba is riding the wave of infrastructure projects, and there was strong agreement that demand had increased across the board for all forms of housing. Logan has reaped the benefits of two major masterplanned communities and may well prove to be Brisbane’s newest and most dynamic corridor.</span></p>
<p><span> • Population growth in the Fraser Coast, Mackay and Gladstone has challenged recovery in these LGAs. Mackay and Gladstone continue to experience oversupply, but are optimistic for improved conditions and see the affordability as the silver lining for buyers over the next 12 months.</span></p>
<p><span>• In Bundaberg, it was the opinion of respondents that positive growth in the market will be driven by low interest rates and affordability.</span></p>
<p><span>• Whilst sales volumes in Cairns cooled since the last report, median prices rose across the board, and the industry eagerly awaits the commencement and/or confirmation of major infrastructure projects.</span></p>
<p><span>• The outlook for the Gold Coast is very positive with a large majority of respondents confident about a continued rising market, particular for houses, and very healthy overseas demand from both investors and owner occupiers.</span></p>
<p><span>UDIA (Qld) president Brett Gillan said Queensland’s new property market contributed to economic growth and jobs in Queensland in the first half of 2015, noting the buoyancy of the South East Queensland market.</span></p>
<p><span>“We are seeing the return of owner occupiers to the market, and they are looking for diversity and fresh choices in housing types and locations. Our challenge is to respond to this demand, and meet their lifestyle aspirations at an affordable price,” he said.</span></p>
<p><span>“We are very aware of the challenges that regional communities outside of South East Queensland continue to face and we have been working closely with our industry, local councils and the state government in 2015, to assist with the creation of local planning schemes that have the best interests of the communities’ future at heart.”</span></p>
<p><span>Industry Insights researcher, NPR Co managing director Matthew Gross, said that the research throws the spotlight on the factors behind the vastly variable market conditions being experienced across Queensland.</span></p>
<p><span>“The report suggests that confidence and certainty, interstate capital inflows and a resurgence in the stock market are issues to watch in 2016,” he said.</span></p>
<p><span>CSQ CEO Brett Schimming said the UDIA (Qld) Research Foundation, that has just celebrated its first anniversary, has filled a gap in industry knowledge that CSQ is proud to have been able to facilitate.</span></p>
<p><span>“The housing and construction industry is one of the most important economic drivers and this research helps to keep industry informed. The more we know the better we can plan housing developments and ensure we have the right skills and training in place to meet future needs,” he said.</span></p>
<p><span>The Foundation’s research programme is driven by the Industry Leaders’ Research Group representing Stockland, Amex Corp, Lend Lease, Frasers Property, Investa, Peet, Pradella Property Ventures, Excel Development Group, Defence Housing Australia, Pointcorp, AV Jennings, Wentworth Equities, McNab, PLACE Design Group and Village Retirement Group.</span></p>
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j.ballantyne1990-6AQqhLzZaK

2016 marks the return of Queensland's owner occupier market: UDIA

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<p><span>All nine Australian real estate institutes have called on the government for changes to laws that will allow contracts for the sale of land and other property-related documents to be created via online forms that are safe and simple to understand and use. </span><span style="line-height: 1.3em;"> </span></p>
<p><span>The real estate institutes have called for the repeal of Electronic Transactions (ET) legislative provisions ("exemptions") which are confusing what procedure should be followed if an e-contract needs to be signed by a company; if a signature needs to be witnessed and, in the case of South Australia only, if an e-contract relates to a land transaction.</span></p>
<p><span>A joint submission was made to all Australian governments on November 18, co-ordinated by Tim McKibbin, CEO of the Real Estate Institute of New South Wales and Mark Morgan, a property partner at Colin Biggers &amp; Paisley.</span><span style="line-height: 1.3em;"> </span></p>
<p><span>Morgan said the exemptions were a barrier to the development of easy-to-understand e-contracts for most property related-transactions including land sale contracts, sales agency agreements, residential and retail lease agreements and property management agreements. </span></p>
<p><span>“The exemptions leave property industry professionals and consumers unable to utilise the existing national ET code as a guide for procedure in relation to the creation, transmission and signing of e-contracts,” Morgan said.</span></p>
<p><span>“This has led to uncertainty and confusion as to what procedures should govern property industry e-contract transactions, and as a result has seriously delayed the development of property industry e-contracts that a consumer can easily access by computer and are safe and simple to understand and use.”</span></p>
<p><span>“We all recognise the importance of removing the barrier to widespread use of e-contracts and call for changes to Commonwealth, State and Territory legislation to address unintended consequences within the regulations,” added McKibbin.</span></p>
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Real estate institutes call for e-contracts legislation amendments

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<p><span>The financial literacy of some first home buyers (FHBs) is a matter of concern, according to a recent survey.</span></p>
<p><span>According to Mortgage Choice’s annual First Home Buyer Survey, 18.3% of first time buyers didn’t know banks can move rates independently of the central bank.</span></p>
<p><span>"It is clear there is more work to be done to help improve the financial literacy of Australians. Anyone planning to get their foot on the property ladder needs to understand the role and power financial institutions have on the rise and fall of interest rates,” said Mortgage Choice chief executive John Flavell.</span></p>
<p><span>“Buying property is one of the biggest financial commitments a person will ever make, so future first home buyers need to know exactly what they are getting themselves in for when taking on a mortgage."</span></p>
<p><span>The survey also found the majority of potential first time buyers are concerned about rates rising independently of the Reserve Bank, with more than half (57.5%) of Australians surveyed planning to purchase property in the next two years "very concerned" or "somewhat concerned" about lenders moving interest rates independently of decisions made by the central bank.</span></p>
<p><span>Many lenders, including the Big Four -- Westpac, CBA, NAB, ANZ -- lifted their variable rates independently of the RBA in October by an average of 18 basis points.</span></p>
<p><span>One basis point is one-hundredth of a percentage point.</span></p>
<p><span>For your free Property Observer eBook from RAMS, 12 tips for first-time buyers, covering everything you need to know when it comes to purchasing property, <span>click here</span>.</span></p>
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One in five first home buyers don't know banks can act independently on interest rates: survey 

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<p><span>Some $7.5 million plus is expected for Cumbrae, a grand, early Victorian property surrounded by manicured gardens, in one of Balwyn’s best streets. </span></p>
<p><span>The extended five-bedroom, three-bathroom 1890s home boasts a central tower with 360-degree views. There is some 800 sqm living space.</span></p>
<p><span>The house, listed through RT Edgar, sits on a <a href="https://www.rtedgar.com.au/property/334763/125-yarrbat-avenue-balwyn/" target="_blank"><span>3072 sqm Yarrbat Avenue </span></a>holding which takes its Scottish name from the Wark family ownership days.</span></p>
<p><span>Offers closed late last month without resulting sale.</span></p>
<p><span>It last sold at $5.65 million in 2010 and in 2007 at $4.35 million.</span></p>
<p><span>Title Tattle recalls it was sold at $1.1 million in 1989.</span></p>
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Cumbrae, the Balwyn trophy home, remains listed

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<div>Melbourne-based property investment company OpenCorp has acquired sites in Queensland to develop an estimated $360 million in projects at Albion and West End.</div>
<div> </div>
<div>The Albion site was bought for $11 million, inclusive of existing development approval for 154 apartments. </div>
<div> </div>
<div>Designed by Hayes Andersen Lynch Architects , the development will comprise one, two and three-bedroom apartments worth an estimated total of $89 million. </div>
<div>OpenCorp expects Albion’s housing values to rise significantly, being five kilometres from the CBD and bordering on the blue-chip areas of Ascot, Hamilton and Clayfield. </div>
<div> </div>
<div>The other project, in West End, will comprise of 106 apartments with an end value estimated in excess of $50 million. </div>
<div> </div>
<div>Construction has commenced on the project, named Citro, and is expected to be complete in early 2017. </div>
<div> </div>
<div>Prices for the remaining 33 apartments start from $369,000 (one bed, one bath, no car).  Two-bedroom apartments (one bath, one car) start from $499,000.</div>
<div> </div>
<div>According to OpenCorp, both units are priced below the suburb’s median price. The median one-bedroom unit price in West End is $375,000 and it is $552,000 for a two-bedroom.</div>
<div> </div>
<div>A high proportion of buyers in Citro are interstate investors entering the Queensland market due to Brisbane’s lower prices than Sydney and Melbourne , as well as the high rental returns, OpenCorp said.</div>
<div> </div>
<div>The project will comprise a roof terrace with an infinity edge pool and cinema. </div>
<div> </div>
<div>Citro is walking distance to the Brisbane River and just two kilometres from the CBD.</div>
<div> </div>
<div>Funds for development sites are crowd sourced from OpenCorp’s clients, who can invest from $10,000.</div>
<div> </div>
<div>OpenCorp’s other Brisbane projects include the Aston Apartments in Nundah and Evolve and Hemingway in Chermside. Hemingway, worth an estimated $70 million, will hit the market in February 2016.</div>
<div> </div>
<div>For more information, <a href="https://www.opencorp.com.au" target="_blank">click here</a>.</div>
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OpenCorp expands into Queensland development

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<div>There are multiple data sources for tracking property markets, but the ABS Residential Property Price Indexes series is always one worth analysing, particularly since the Reserve Bank of Australia (RBA) itself follows it closely.</div>
<div> </div>
<div>Established house prices rose by +2.2% in the third quarter to be +11.4% higher over the past 12 months, while attached dwellings rose by +1.4% to be +8.7 % higher over the year. </div>
<div> </div>
<div>While averages mask endless underlying trends, the long run data implies that on average over the past dozen years established house prices (+5.6% per annum) have been outperforming attached dwellings (+4.8% per annum), commensurate with lower initial spot yields. </div>
<div> </div>
<div><a href="/images/2015/12/15/Resi1.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/12/15/Resi1.jpg" alt=""></div>
<div> </div>
<div>
<span>Let's step today's the key figures in three short parts.</span><br><br><strong><span style="text-decoration: underline;">Part 1 - Price indexes</span></strong><br><br><div>The star performers over the past year have been established houses in Sydney (+21.9%) and attached dwellings in the same city (+15.8%).</div>
<div>
<br>Established house prices in Melbourne have also performed strongly to be up by +11.5% over the year, but on average attached dwellings price growth in the Victorian capital has been more contained at +4.5%, reflective of the volume of new supply. </div>
<div> </div>
<div><a href="/images/2015/12/15/Resi2.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/12/15/Resi2.jpg" alt=""></div>
<div> </div>
<div>
<div>Dwelling prices over the year have performed solidly in Brisbane (+3.8 per cent), Canberra (+4.0 per cent), Adelaide (+3.5 per cent), and Hobart (+1.7 per cent).</div>
<div> </div>
<div>On the other hand there have been moderate declines to date in Darwin (-2.0 per cent) and Perth (-3.3 per cent), although interestingly Domain Group forecasts moderate price growth to return to both cities in 2016, whereas I have previously argued that prices may follow rents down in the next calendar year. </div>
<div> </div>
<div>Since the end of 2008 Sydney (+83 per cent) and Melbourne (+51 per cent) have outperformed impressively, while prices are also now rising in Brisbane, Adelaide, Canberra, and Hobart. </div>
<div> </div>
<div><a href="/images/2015/12/15/Resi3.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/12/15/Resi3.jpg" alt=""></div>
<div> </div>
<div>
<strong><span style="text-decoration: underline;">Part 2 - Stock value</span></strong><br><br><div>Over the past three years the total value of dwelling stock has surged +32 per cent or +$1.42 trillion higher, to a total stock value of $5.86 trillion.</div>
<div> </div>
<div><a href="/images/2015/12/16/Resi4.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div><img src="/images/2015/12/16/Resi4.jpg" alt=""></div>
<div> </div>
<div><span>More than 90 per cent of the gains in the value of dwelling stock over those three years have been accounted for by New South Wales (+$756 billion), Victoria (+$390 billion), and Queensland (+$131 billion), with the other states and territories accounting for the remaining +$141 billion. </span></div>
<div><span> </span></div>
<div><a href="/images/2015/12/16/Resi5.jpg" target="_blank"><span>Click to enlarge</span></a></div>
<div><span><img src="/images/2015/12/16/Resi5.jpg" alt=""></span></div>
<div> </div>
<div> </div>
<div><span>Mean dwelling prices over the past three years have exploded in New South Wales (+$236,000), and increased strongly in Victoria (+$133,000). </span></div>
<div><span> </span></div>
<div><a href="/images/2015/12/16/Resi6.jpg" target="_blank"><span>Click to enlarge</span></a></div>
<div><span> </span></div>
<div><span><img src="/images/2015/12/16/Resi6.jpg" alt=""></span></div>
<div> </div>
<div> </div>
<div>
<div>In fact, despite the recent declines in Western Australia and the Northern Territory noted above, the mean dwelling price has moved some way higher across all states and territories across a three year timeframe.</div>
<br><strong><span style="text-decoration: underline;">Part 3 - Volume of dwelling stock</span></strong><br><br><div>The final chart below helps to explain why although an increase in the dwelling supply can accentuate market downturns - particularly in smaller towns and cities - in the larger cities an increase in building activity on its own can take years to dampen prices. </div>
<div> </div>
<div>One reason for this is that new builds only ever account for a fraction of transactions in a given year, and therefore the level of available supply at any point in time is rather driven by the established or "second hand" market (another reason is that over-simplified views of the market fail to take account of how well the new supply matches demand at the LGA, suburb, and household formation level).</div>
<div> </div>
<div>Over the past four years, while the Australian Capital Territory (+10.9 per cent) and the Northern Territory (+10.1 per cent) have increased their respective number of dwellings materially, this is of course somewhat harder to achieve when you are starting from a higher base figure.</div>
<div>
<br>Despite this, Western Australia (+8.6 per cent) and Victoria (+7.9 per cent) have made valiant attempts to increase the total supply of dwellings since the the equivalent quarter 2011 according to the ABS data series.</div>
<div> </div>
<div><a href="/images/2015/12/16/Resi7.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/12/16/Resi7.jpg" alt=""></div>
<div> </div>
<div>
<div>On the other hand, the ABS figures show that the number of New South Wales dwellings has increased by only +4.4 per cent over the past four years, which may go some of the way to explaining why Sydney's rental market has remained relatively tight to date, despite alleged overbuilding.</div>
<div> </div>
<div>Over the past three years the population of Greater Sydney has increased by around +230,000, and thus while it is easy enough to find localised areas of oversupply, after accounting for stock obsolescence, demolitions, and dwelling approvals that never make it to completion, at the city level at least the market remains relatively balanced in terms of dwelling supply (at least, for now).</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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Sydney house prices up 21.9% Pete Wargent

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<p><span style="line-height: 1.3em;">Melbourne has yet to catch Sydney as national house price growth halves, according to the official ABS data for the September quarter when the growth gap narrowed.</span></p>
<p><span style="line-height: 1.3em;">The weighted average price index for residential properties across the eight capital cities for the September quarter rose 2%, the latest data from the Australian Bureau of Statistics showed, lower than the 4.7% national growth in the June quarter.</span></p>
<p><span style="line-height: 1.3em;">According to the Residential Property Price Indexes, the index rose 10.7% through the year to the September quarter.</span></p>
<p><span>Capital city residential property price indexes rose in Sydney (3.1%) in the September quarter, Melbourne (2.9%), Brisbane (1.3%), Adelaide (1.2%), Canberra (1.3%) and Hobart (0.5%). Two cities showed a fall, Perth (-2.4%) and Darwin (-0.4%), it said.</span></p>
<p><span>"Annually, residential property prices rose in Sydney (+19.9%), Melbourne (+9.9%), Brisbane (+3.8%), Canberra (+4%), Adelaide (+3.5%) and Hobart (+1.7%) while they fell in Darwin (-2%) and Perth (-3.3%).</span></p>
<p><span style="line-height: 1.3em;">"The total value of residential dwellings in Australia was $5 859 824.6 m at the end of September quarter 2015, rising $137,125.0m over the quarter. The mean price of residential dwellings rose $11,900 to $612,200 and the number of residential dwellings rose by 38,600 to 9,572,400 in the September quarter 2015."</span></p>
<p><a href="/images/2015/12/15/Screen%20Shot%202015-12-15%20at%2012.06.30%20PM.png" target="_blank"><span style="line-height: 1.3em;">Click to enlarge</span></a></p>
<p><img src="/images/2015/12/15/Screen%20Shot%202015-12-15%20at%2012.06.30%20PM.png" alt=""></p>
<p><span style="line-height: 1.3em;">For the June quarter, the index rose 9.8% through the year.</span></p>
<p><span>"Capital city residential property price indexes rose in Sydney (8.9%), Melbourne (4.2%), Brisbane (0.9%), Adelaide (0.5%) and Canberra (0.8%), was flat in Hobart (0.0%) and fell in Perth (-0.9%) and Darwin (-0.8%)," it noted.</span></p>
<p><span>"Annually, residential property prices rose in Sydney (+18.9%), Melbourne (+7.8%), Brisbane (+2.9%), Canberra (+2.8%), Adelaide (+2.7%) and Hobart (+1.5%) and fell in Darwin (-1.8%) and Perth (-1.2%).</span></p>
<p><span>"The total value of residential dwellings in Australia was $5,761,607.2m at the end of June quarter 2015, rising $271,939.1m over the quarter. The mean price of residential dwellings rose $26,200 to $604,700 and the number of residential dwellings rose by 38,400 to 9,528,300 in the June quarter 2015."</span></p>
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Melbourne yet to catch Sydney as national house price growth halves: ABS 

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<p>The Gold Coast market is a tale of two cities, one representing the best of times and the other the worst of times.</p>
<p>The best is the housing market, which is responding to population growth, infrastructure spending and other stimulus to produce rising sales activity and price growth across the region. The worst is the likely outcome in the coastal suburbs dominated by high-rise apartments.</p>
<p class="Body">I’ve made my views about the unit market pretty clear. I wrote about it in this column in September, when I started by saying  “It’s danger time for investors tempted to buy high-rise apartments on the Gold Coast” and ended with “For investors who are susceptible to a strong marketing pitch, it’s time to be afraid, be very afraid”.</p>
<p class="Body">Gold Coast high-rise units are a prime candidate for the title of worst capital growth performers in Australian real estate, constantly undermined by a boom-bust history characterised by periods of massive oversupply.<span style="line-height: 1.3em;"> </span></p>
<p class="Body">But the Gold Coast is a big city, with a population currently estimated at 550,000 and projected to top 620,000 in five years. It’s in a similar position to both Melbourne and Brisbane – the downtown unit markets should be avoided because of looming oversupply, but suburban housing markets look strong.<span style="line-height: 1.3em;"> </span></p>
<p>There is more momentum in the Gold Coast suburban market – what I call the genuine residential market of the Gold Coast – than anywhere else in Australia right now.</p>
<p>The Gold Coast is the clear national leader among the Local Government Areas of Australia, including both capital cities and regional areas. It has the most growth suburbs, by a wide margin.</p>
<p>When we examine the sales volumes suburb by suburb, the momentum is exceptional. And this is key information for real estate consumers, because when sales activity rises strongly, price growth is inevitable.</p>
<p>I have mentioned one of the rising Gold Coast precincts as one of my five markets to watch in 2016 – the northern growth corridor stretching up the Pacific Motorway towards Brisbane.</p>
<p>Oxenford stands out in this precinct, with sales rates lifting from 80-90 per quarter last year to 130-135 in the past two quarters. Other growth suburbs in this area include Coomera, Upper Coomera, Pimpama and Ormeau.</p>
<p class="Body">But there are growth markets right throughout the residential suburbs of the Gold Coast. Others include Burleigh Waters, where sales in the past five consecutive quarters have been 85, 92, 100, 131 and 144. The pattern there is undeniable and the suburb’s median price is now growing at an annual rate above 10%.</p>
<p class="Body">Mermaid Waters is also a growth market, with sales rates up from around 80 per quarter last year to about 120 per quarter now, which means sales activity has increased 50% in 12 months. And, as in Burleigh Waters, the median price is starting to head north.</p>
<p class="Body">This rising trajectory of sales is producing price growth in many of the residential suburbs. The annual change in median house prices is in double digits for some of them, including Helensvale, Merrimac, Pimpama, Robina and Worongary, in addition to Burleigh Waters and Mermaid Waters.<span style="line-height: 1.3em;"> </span></p>
<p class="Body">But more common, to date, is growth of 5%, 6% or 7%. I expect the rate of growth to rise in 2016.</p>
<p class="Body">It’s also significant that many of the apartment markets have recorded median price decline in the past 12 months or have had zero growth. And most have long-term growth averages that are negative, zero or just 1-2% per year.</p>
<p class="Body">It’s very much a tale of two cities – the city of houses and the city of high-rise apartments. As investors, consider the former but avoid the latter.</p>
<p class="Body"> </p>
<p class="Body"><em>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></em></p>
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terryryder-YECXbqmri2

Gold Coast property market a tale of two cities: Terry Ryder

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<p>GUEST OBSERVER</p>
<p><span style="line-height: 1.3em;">Some days saving for a first home can feel like running a marathon, and as any distance runner knows, at some stage you could hit the wall of fatigue.</span></p>
<p><span>In running terms that’s the point where energy levels start to drop and athletes have to fight the urge to toss in the towel and head back to the change rooms. </span></p>
<p><span>If you find your enthusiasm for growing savings is starting to flag, it can pay to adopt the strategies used by professional runners to forge ahead even when the wall tries to slow them down.</span></p>
<p><span><strong>Keep a consistent pace</strong></span></p>
<p><span>Throwing as much cash as possible into your savings without allowing for fun stuff is a sure fire way to burn out. Life is meant to be enjoyed, and you still need to able to head out on the town occasionally, take a break on vacation or chill out with friends. </span></p>
<p><span>Aiming to stick to a consistent pace of saving can help you avoid saving fatigue. Crunch the numbers to work out <span>how much you need to save on a regular basis</span> to reach your first home deposit target. Once you have the numbers in place it’s just a matter of maintaining the momentum.</span><span style="line-height: 1.3em;"> </span></p>
<p><span><strong>Fuel your head space</strong></span></p>
<p><span>Marathon runners often use visualisation techniques to stay motivated. They imagine themselves crossing the line first or breaking a long-held record, and that can be the tonic they need to keep going.</span></p>
<p><span>If your enthusiasm for savings is flagging, stay motivated by picturing how great it’s going to feel to look at your home and think “Yep, I own that”. Sure, you may not win a gold medal but remember, your home is a tax-free asset and an excellent investment. Property values across Australia’s eight state capitals have risen by around 5.3% each year over the last ten years. Buying your first home could certainly put you on top of the winner’s podium when it comes to growing personal wealth.</span></p>
<p><span><strong>Run your own race</strong></span></p>
<p><span>Don’t feel pressured to buy in an expensive suburb just because your friends, work mates or siblings are. There is value to be found in suburbs further out from the city centre. These may not be your dream location but sometimes homes in outer suburbs can benefit from renovations, and that makes them affordable – and they offer a blank canvas for you to add value through improvements. Run your own race and buy where you can afford.</span></p>
<p><span><strong>Carb stack your savings</strong></span></p>
<p><span>In the same way that distance runners take advantage of stopping points to fuel up on carbohydrates, first home buyers can boost their deposit by improving the return their money earns. </span></p>
<p><span><span>Online savings accounts</span> can offer higher interest than everyday transaction accounts</span><span> </span><span>but if you’ve had your existing account for a while check to see what your money is earning - a high introductory rate may have lapsed. Explore options to earn bonus rates, like holding your everyday account and savings account with the same bank. It all helps you smash through the wall of fatigue and hit the finish line a whole lot sooner.</span></p>
<p> </p>
<p><em>Patrick Nolan is head of home loans, <a href="https://www.mebank.com.au" target="_blank">ME Bank</a>.</em></p>
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Four tips to beat first home buyer fatigue: ME Bank's Patrick Nolan

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<p><span>Interests associated with the horse breeder Rob Crabtree has listed a St Andrews Beach retreat, La Rochelle.</span></p>
<p><span>The four bedroom, four bathroom 438-446 Dundas Street property sits on a 3996 square metre distant beachfront block.</span></p>
<p><span>Abutting the Peninsula Coastal Walk track, the timber four-level house has been listed through Kay &amp; Burton’s Liz Jensen and David Heathcote.</span></p>
<p><span>They are <a href="https://www.realestate.com.au/property-house-vic-st+andrews+beach-118555103" target="_blank"><span>asking $2.3 million.</span></a> It sold at $2.4 million in 2012 to interests associated with </span><span style="font-size: 12.16px; line-height: 1.3em;">Crabtree who owns champion mare Black Caviar’s maternal grandmother.</span></p>
<p><span>Another trophy home at St Andrews Beach was listed with $3 million plus hopes through Michael Kivlighon at RT Edgar earlier this year.</span></p>
<p><span>The <a href="https://www.realestate.com.au/property-house-vic-st+andrews+beach-120675453" target="_blank"><span>3-5 Moana Court</span></a> home had been a beach shack in the 1970s when builder Damian Thomas bought the place. It has been recently sold at $3.05 million.</span></p>
<p><span>Three years ago, Damian and wife Dianne replaced the shack with the modern homedesigned by Architecture Work's John Lochhead.</span></p>
<p><span>With five bedrooms, two bathrooms, the Mornington Peninsula house offers ocean views through floor to ceiling windows.</span></p>
<p><span>The island bench in the kitchen is built from wood reclaimed from the Mornington Pier.</span></p>
<p><span>The median price for a home in <a href="/news"><span>St Andrews Beach is around $545,000</span></a>, according to CoreLogic RP Data.</span></p>
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