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

Joel Robinson

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

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

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

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

Bottega House secures landmark riverfront site in St Lucia 

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

SIERA kicks off construction at Northcliffe tower Exhale

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

Eastern Suburbs buyers snap up ESTE Little Bay apartments

Residential Market

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Success in real estate belongs to the independent thinkers. And that means the select few.
The most predictable market intelligence of the past few weeks is that consumer sentiment about real estate has weakened.
Given the herd mentality in Australian real estate, and the absence of independent thought and action, I would expect sentiment to mirror media reporting trends. If media keeps reporting that “the Australian property boom” is over, I would expect a survey of public sentiment to reflect that.
And, lately, it has. According to the Westpac-Melbourne Institute Index of Consumer Sentiment, public opinion about whether it’s a good time to buy, and about price expectations, has weakened. This apparent dissipation of confidence has coincided with mainstream media deciding that the new core storyline is that the so-called national property boom is over.
What they really mean is that the Sydney boom is over and that is reflected in the generalised national figures much beloved by lazy journalists.
This new and recurrent theme in mainstream media is now being mirrored in responses to surveys about real estate.
It tells us that the average citizen struggles with independent thought. Most are pack animals and more likely to take action because everyone else is than because it makes sense. 
Sometimes it feels like all Australians are connected to a central brain – and not a particularly smart one, either.
Another recent poll that fits this theme is the NAB’s quarterly Australian Residential Property Survey. The generalised results are that sentiment has weakened and people expect price growth to be less spectacular than the past couple of years.
Significant? Not at all. It’s people parroting what they read in newspapers. Will those expectations be marched by outcomes? No it will not - growth won’t stop, but the focus of growth will switch from Sydney to other areas.
While media focused on this downturn in overall generalised simplified public expectations, without segmenting for local differences of which there are many, there are many other things in the NAB quarterly report that are far more significant. 
These are matters of fact, rather than impressions, expectations or predictions.
The NAB report is one of the few that realistically quantifies buying activity by first-timers. It finds that this market segment has increased recently - 26.2% of sales of established properties are made to first-time buyers, compared to 23.7% in the June Quarter. And 28.9% of sales of new properties are being made to first-time buyers.
The NAB report, unlike other less credible sources like the ABS, takes into account that not all first-timers buy homes. A rising number buy investment properties as a first purchase. According to NAB, 15.7% of established properties and 16.4% of new properties are being sold to first-timers as home-buyers. In addition, 10.5% of established properties and 12.5% of new properties are being sold to first-time buyers as investors.
They’re a big chunk of the market, but for many media outlets it’s an inconvenient truth because it contradicts the beloved storyline about the Great Australian Dream being dead because youngsters are priced out of the market. 
As an aside, research from Mortgage Choice has found that most first-home buyers are comfortable with their mortgages, with almost two-thirds saying they could accommodate interest rate rises of at least two percentage points (a quarter of them could cope with a rise of four points).
The NAB report also provides a good snapshot of the activity of foreign investors. It shows that overall they remain quite insignificant as a share of the overall market. They are most active in buying new property, where they account for 16% of sales.
They are most prominent, and this tells its own tale, in the apartment market, especially in Victoria (which means inner-city Melbourne). In Victoria, foreign buyers account for almost a third of all new unit sales. 
It confirms that developers are flooding inner-city apartment markets with new product because they believe they can sell any surplus stock overseas (which means Asia, especially China and Hong Kong). 
Some developers are not bothering to market locally but heading directly overseas to sell their off-the-plan stock.
As time goes by and more projects flood this market, I would expect the foreign purchase component to rise. It’s a warning to Australian investors and home-buyers to steer clear.
 
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
 
 
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terryryder-YECXbqmri2

A warning to Australian investors and home buyers: Terry Ryder

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Property Observer has sought sales and listings over recent months highlighting the beauty of the jacaranda.
Here's our latest finds.
1. <a href="https://www.realestateview.com.au/Real-Estate/jacaranda-estate-lot-48-45-lancashire-drive-mudgeeraba/Property-Details-buy-residential-9785743" target="_blank">Lot 48, 45 Lancashire Drive, Mudgeeraba, QLD</a> (below)
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2015/11/18/700_jac1.jpg" alt="" width="519" height="315"> 
The property in Ascot was a no brainer for top spot.
Simply entitled 'Jacaranda', the gated estate compromises of land and house space, with this townhouse the last of the lot.
The four bedroom, two bedroom house is on the market for just over $540,000.
The estate features a jacaranda at every turn.
2. <a href="https://www.realestateview.com.au/Real-Estate/24-roger-street-muswellbrook/Property-Details-buy-residential-9760204" target="_blank">24 Roger Street, Muswellbrook, NSW</a> (below)
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2015/11/18/jac2.jpg" alt="" width="552" height="335" style="line-height: 1.3em;">
The 898 sqm property is nestled behind a lavish jacaranda tree.
The three bedroom, one bathroom home is on the market for $320,000
3. <a href="https://www.realestateview.com.au/Real-Estate/6-pagottos-ridge-road-north-lismore/Property-Details-buy-residential-9759488" target="_blank">6 Pagattos Ridge Road, North Lismore, NSW</a> (below) 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2015/11/18/jac4.jpg" alt="" width="486" height="295">
The three bedroom, one bathroom property includes 2.79 hectares of land.
The back garden of the property features an outside decking and views of the blooming jacaranda's
4. <a href="https://www.realestateview.com.au/Real-Estate/9-orville-street-malvern-east/Property-Details-buy-residential-8520422" target="_blank">9 Orville Street, Malvern East, VIC</a> (below)
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2015/11/18/jac5.jpg" alt="" width="413" height="251">
Another property that sits behind an imposing jacaranda. 
The property features two bedrooms and one bathroom and is currently under offer, however was previously on the market for $1.69 million.
5. <a href="https://www.realestateview.com.au/Real-Estate/10-prosper-parade-glen-iris/Property-Details-sold-residential-9381214" target="_blank">10 Prosper Parade, Glen Iris, VIC</a> (below)
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2015/11/18/jac6.jpg" alt="" width="504" height="306">
The property has been architecturally designed to make the most of the lavish gardens surrounding the home.
The outdoor decking is met by vibrant jacaranda's in spring. 
The property sold at auction in September with the price undisclosed.
6. <a href="https://www.realestateview.com.au/Real-Estate/4-6-gardenvale-drive-coes-creek/Property-Details-sold-residential-8556534" target="_blank">4-6 Gardenvale Drive, Coes Creek, QLD</a> (below)
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2015/11/18/jac7.jpg" alt="" width="525" height="319">
Mature jacaranda tress surround the 1754 sqm block and keep privacy to a maximum.
The three bedroom property was sold for $450,000 in October. 
 
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jrobinson-rf4aSBido9

Jacaranda's ablaze in property offerings

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Of all buyer profiles within the Tasmanian residential property market, the Real Estate Institute reports that 17% of total residential sales can be attributed to investors, Herron Todd White's November review advises.
Within this investor sector the REI further reports that as a percentage of sales occurring within each region (southern, north west and north), investors are most active in the north of the state, their latest monthly update advised.
"Traditionally investors and first home buyers compete for established entry level properties up to approximately $250,000, however the first home buyer’s boost has deflected the attention of first home buyers to newly constructed dwellings in order to capitalise on the grant.
"It is unlikely the state government will extend the first home builder’s boost grant indefinitely or at its current level after December 2015.
"Consequently it could be expected there will be greater than current levels of competition between investors and first home buyers in this market level."
The report suggested that investors generally seek suburbs popular with renters being suburbs that contain either large employers, good access to public transport networks and facilities such as shopping centres, schools and child care facilities.
"Suburbs in the southern region that have achieved the greatest volume of sales in the past twelve months in this entry level price bracket of up to $250,000 are Glenorchy and Claremont.
"Both suburbs are to the north of Hobart’s city centre on the western side of the Derwent. Glenorchy is approximately nine kilometres from the centre while Claremont is approximately 14 kilometres from the centre of town."
The report does state that the majority of these sales have been houses.
"Reported gross yields in Tasmania's south for residential property range from 4.7% to 5.3%.
"The north of Tasmania reportedly offers the highest gross yields for residential investment property at between 5.6% to 5.8%."
The reports statistics show that suburbs in the north where the greatest volumes of sales have occurred within this bracket over the last year are Mowbray and Newnham. Both of these suburbs are near to the University and two good shopping centres.
Investors considering these suburbs should take note that the relocation of the Launceston campus of the University to Inveresk has the support of state and local governments and on approval is expected to be completed within five years, the report advises.
"Applying these same parameters to the north-west reveals highest sales volumes in this market bracket were achieved in the Devonport region, the largest population centre in the north-west. Reported gross yields for the north-west are between 4.8% to 5.6%.
"Should Tasmania make good on its announcement to accept up to 500 asylum seekers this may be a driver for residential property investors to capitalise on housing demand in the near future."
The monthly review concludes by proposing the government may consider schemes such as the National Rental Assistance Scheme as an incentive for private investors to meet resultant potential housing demand through its $1.2 million commitment to support such an intake. 
 
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Tasmania securing 17% investor sales: Herron Todd White

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New South Wales auction results for the week ending Sunday 15 November show a preliminary clearance rate of 61% from 1200 total scheduled auctions.
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<div class="num">According to data from realestate.com.au, 317 properties were sold at auction within NSW, 243 passed in and 214 sold prior to auction.</div>
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<div class="num">One standout sale in the Sydney suburb of Blakehurst, <a href="https://www.realestate.com.au/property-house-nsw-blakehurst-120988130" target="_blank">71 Terry Street</a>, was a six bedroom home that sold for $2,980,000. The median price for a home in <a href="/news">Blakehurst is $1.5 million</a>, according to CoreLogic RP Data.
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New South Wales clearance rate at 61%: Realestate.com.au

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A $4.8 million Blakehurst home sale topped weekend auction sales across Australia, according to Australian Property Monitors.
The beachfront Princes Highway sale was through McGrath Estate Agents.
With views across Kogarah Bay, the waterfront residence sits on an under utilised sprawling 1,365sqm block.
"While the LEP has not yet been gazetted by council (possibly March next year) the site is proposed by council for units and while some buyers thought there was too much risk we had three bidding," agent Matthew King said.
<a href="/images/2015/11/16/Screen%20Shot%202015-11-16%20at%204.49.08%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/11/16/Screen%20Shot%202015-11-16%20at%204.49.08%20PM.png" alt="" width="762" height="491">
 
<a href="/images/2015/11/16/Screen%20Shot%202015-11-16%20at%204.49.17%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/11/16/Screen%20Shot%202015-11-16%20at%204.49.17%20PM.png" alt="">
 
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Blakehurst home tops weekend auction sales for McGrath

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The Ray White agency leads the pack when it comes to market share, according to data within the McGrath IPO share prospectus.
The chart indicates Australian residential real estate service market share data by sales value, 12 months to 31 March 2015, based on McGrath management estimates derived from published sales in data available to McGrath management. The total market value of residential property sales was based on CoreLogic Data figures. 
<a href="/images/2015/11/13/Screen%20Shot%202015-11-13%20at%202.00.42%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/11/13/Screen%20Shot%202015-11-13%20at%202.00.42%20PM.png" alt="">
Source: McGrath IPO share prospectus
As at 30 June 2013, the ABS estimated there were over 35,000 residential real estate service businesses operating in Australia.
Approximately 62% of these businesses were sole proprietorships or partnerships without employees and 98% of real estate service businesses employed less than 20 staff.
In the 12 months to 31 March 2015, the 10 largest operators (including franchise networks) were estimated to account for approximately 30% of the Australian market by sales value.
It noted residential real estate is Australia’s largest and most valuable asset class, comprising over 9.5 million residential properties - approximately 72% houses and 28% unit -  with an estimated value of $5.9 trillion as at 30 June 2015.
In comparison, the total value of Australian superannuation and Australian listed stocks was estimated at approximately $2.0 trillion and $1.7 trillion respectively.
The Ray White Group joint chairman Brian White recently advised with all the press speculation of a market change that he awaited the group's October results with more interest than usual.
"So when our result of $3.9billion came in – just short of an all time record – it was a delight for us all," he advised while adding that new offices opened last month, including Thornlands and Albion in Brisbane, Riverstone and Woolloomooloo in NSW, and the expansion of Damian Moore’s successful Ray White Glen Waverley with a new office Mount Waverley in Victoria.
"Of particular interest was the continuing strength of NSW, who achieved a record result for us of $1.4 billion.
"That is double of what was being achieved only a few years ago."
Victoria and Tasmania also achieved a record result in the month of October with $353 million.
"The continuing resilience of the Australian east coast market is reassuring," Brian White said.
"It is true that bidding at auctions is not as frenetic as we noticed in the winter months, but what commentators have missed is that there is still substantial strength and activity in the market.
"Willing buyer and willing seller are still coming together and continuing to secure attractive prices – it just means the role of the real estate agent is more important than ever before," he said.
 
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Ray White leads LJ Hooker with biggest Australian residential real estate market share

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Queensland's price growth has been plotted over the past decade by BIS Shrapnel in the McGrath IPO prospectus.
There is also a forecast for 2016. 
 
<a href="/images/2015/11/13/Screen%20Shot%202015-11-13%20at%202.12.16%20PM.png" target="_blank">Click to enlarge</a>
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QLD price growth over the past decade 2005-2015: BIS Shrapnel

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I’ve always liked the saying “It isn’t difficult to make a mountain out of a molehill – just add dirt.”
The focus on clearance rates by some commentators is plain ridiculous especially when they insert the word “Sydney” into the clearance rate debate.
As we all know Sydney is made up of some 700 suburbs – where some are still performing above expectations and some are caught in a downward spiral. This is not an historic first as we have seen this pattern on many occasions previously with the areas of western Sydney, north – west Sydney, Canterbury Bankstown and surrounding areas the hardest hit.
These areas coincidentally have been the engine room for the Sydney property boom so they were always going to break – down. This is not a collapse rather a correction.
If you take the areas within a 5 to 10 kilometre radius of the Sydney CBD they are still performing with gusto<a href="https://www.rwm.com.au/news/" target="_blank">.</a> Although it should also be noted that quite a few properties are withdrawn from public auction which go unreported. Properties that are passed in and sold an hour or two later are reported as sold – at – auction.
When I do a Domain search for properties in Greater Sydney that are on the market I see all up there are presently 12,922 properties, which isn’t a lot on the grand scale of things. The estimated Sydney population in 2015 is 4,840,000. What is interesting is that approximately one – third of these properties would be set down for public auction. So why the focus on clearance rates?
What I find even more interesting is why all the properties are bundled together? Well that’s easy to explain as most of the commentators are connected to some media organisations in some shape or form. If they were to list areas where clearance rates are identifying a nose – dive then nobody would advertise in those local newspapers, so it’s commentary by self-preservation.
Yes the call for concern is well justified with Sydney posting an annual growth of 12.8% and Melbourne even higher at 15.6%. To put this into some sort of perspective Auckland is presently running away at 27% annual capital growth – which is scary.
There are two game – breakers in property markets; interest rates and unemployment. The Australian Bureau of Statistics have just released its labour force survey for October which recorded that the seasonally – adjusted unemployment rate fell to 5.9%, down 0.3 points from September. We live in a funny society where some sections were desperately hoping that the unemployment figure would rise.
Now the interest rate scenario is even more interesting as we need to take into account that the Sydney property market has experienced a massive change to its normal landscape. We need to factor in the new significant buyer – investors. They have been driving the markets to levels never seen before, so we need to pay particular attention to yields.
Sydney 12 months ago was recording 3.7 per cent, today it has dropped back to 3.3%. Melbourne 12 months ago was 3.3%, today it is 3.0%. Brisbane 12 months ago was 4.5%, today it’s 4.4%. Adelaide has seen no change and sits at 4.2% and Perth has gone from 4.1% to 4.0%. (Source: Core Logic RP Data)
From these figures the two biggest investor markets, Sydney and Melbourne, are not surprisingly recording the highest downward corrections. Yields in 2016 will command special interest especially in the Sydney and Melbourne property markets. The cash rate debate is anyone’s guess where if the Reserve Bank of Australia decided to cut the cash rate there are absolutely no guarantees that the banks will pass that cut on after their last decision to increase interest rates.
Yes I have no doubt that we will see some interesting corrections in 2016 where I predict the areas that have experienced massive infrastructure expenditure to suffer the most. This is not anything new as it’s happened plenty of times previously, although some areas of Sydney have not seen any infrastructure expenditure in over fifty years. Take the northern beaches for example where their last significant expenditure was that dumb Spit Bridge in 1959.
If one was to sit back and collate all the stamp duty paid from Palm Beach to Seaforth over the last 56 years you would come up with a near nil return for infrastructure expenditure. Still the state government insists on thousands and thousands more high density housing developments with no proposals to build new transport plans aside from double – decker buses.
Maybe stamp duty rates should be determined by infrastructure expenditure within a particular region?
<h4>MOSMAN – 2088</h4>
• Number of houses on the market this time last year – 114
• Number of houses on the market last week – 75
• Number of houses on the market this week – 74
• Number of apartments on the market this time last year – 76
• Number of apartments on the market last week – 60
• Number of apartments on the market this week – 61
<h4>CREMORNE – 2090</h4>
• Number of houses on the market this time last year – 13
• Number of houses on the market last week – 12
• Number of houses on the market this week – 13
• Number of apartments on the market this time last year – 36
• Number of apartments on the market last week – 17
• Number of apartments on the market this week – 16
<h4>NEUTRAL BAY – 2089</h4>
• Number of houses on the market this time last year – 10
• Number of houses on the market last week – 6
•Number of houses on the market this week – 5
• Number of apartments on the market this time last year– 34
• Number of apartments on the market last week – 30
*Number of apartments on the market this week – 36
 
 ROBERT SIMEON is a director of <a href="https://www.rwm.com.au/" target="_blank" title="RWM" rel="nofollow">Richardson Wrench Mosman and Neutral Bay</a> and has been selling residential real estate in Sydney since 1985.  He has also been writing real estate blog <a href="https://www.rwm.com.au/news/" target="_blank" title="Virtual Realty News" rel="nofollow">Virtual Realty News</a> since 2000. 
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Why clearance rates aren’t clear: Robert Simeon

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Fraser Properties and Sekisui House have combined for the launch of DUO, a 313 high-end apartment tower.
Duo is the fifth residential stage at the award-winning Central Park urban village in Chippendale.
<img src="/images/2015/11/13/GgbNdBhvoe9UKb11xaDOego-rw-IMmd8SY8t-AXrOhcoEOvLq5Xq0LW2ZasZYc5dqCHTBXebbIfWeK34NwERc0.jpeg" alt="" width="457" height="257">
The building was designed by internationally acclaimed architects Foster + Partners - only their third residential design in Australia.
<img src="/images/2015/11/13/duo4.jpg" alt="" width="510" height="322">
The prices for the apartments start at $650,000 for a one bedroom suite, $850,000 for a one bedroom apartment and $1.2 million for the two bedroom apartments.
<img src="/images/2015/11/13/duo1.jpg" alt="" width="517" height="333">
Buyers will also have the opportunity to secure a three-bedroom dual key property, something Central Park has not previously offered.
These properties are priced at $1.78 million.
<img src="/images/2015/11/13/duo2.jpg" alt="" width="550" height="398">
These apartments will feature in the eastern tower of DUO, with the western playing host to a 300 room boutique hotel, ground floor retail and 5,500 sqm of commercial space.
Fraser Property Australia's sales and marketing director Paul Lowe said DUO gives buyers a chance to be a part of award-winning Central Park community.
<img src="/images/2015/11/13/duo3.jpg" alt="" width="409" height="295">
"DUO will undoubtably set a new bench mark for residential living in the Sydney property market."
The properties will be available on the market from November 28. For more information <a href="https://www.centralparksydney.com" target="_blank">click here</a>.
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Central Park's DUO to offer dual key apartment options

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BPM has appointed award-winning residential builder Icon Co to construct its landmark Shadow Play residential development.
Located at <a href="https://www.bpmcorp.com.au/projects/shadow-play/" target="_blank">105 Clarendon Street</a>, Icon Co will be responsible for delivering the $300 million project.
The 46 level tower will commence construction this month and is expected to be completed in May 2018.
BPM founder and company director Jonathan Hallinan said the appointment of Icon Co followed the construction company’s recent partnership with Japanese construction giant, Kajima Corporation.
“Our recent move towards larger-scale projects is aligned with Icon’s growth strategy.
"Shadow Play reflects our focus on higher density development and we were keen to work with project partners, such as Icon and Elenberg Fraser, who we feel confident can deliver our vision for the project."
The new development is designed by Melbourne based architects Elenberg Fraser with interiors by Hecker Guthrie.
Shadow Play will compromise 475 one, two and three bedroom apartments, as well as 150 car parks and a 600 sqm communal space on level nine. 
The block has already sold 85% of its apartments, with the penthouse selling to a local purchaser in June 2015 for $10.4 million.
The complex amenities will include a private dining area with kitchen and lounge area, gym, spa, steam room, bubble pool, barbeque and sun bathing, as well as a rooftop area with reflective tree pods. 
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