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


Joel Robinson

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

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


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

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


Bottega House secures landmark riverfront site in St Lucia 

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<p data-end="157" data-start="0">The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.</p>

<p data-end="459" data-start="159"><a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.</p>

<p data-end="459" data-start="159">[smartcode_project:default project_id=112661 project_image_fid=359603]</p>

<p data-end="651" data-start="461"><a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.</p>

<p data-end="950" data-start="653">Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.</p>

<p data-end="1081" data-start="952">“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.</p>

<p data-end="1081" data-start="952">[smartcode_project:default project_id=112661 project_image_fid=355935]</p>

<p data-end="1307" data-start="1083">Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.</p>

<p data-end="1522" data-start="1309">The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.</p>

<p data-end="1522" data-start="1309">[smartcode_project:default project_id=112661 project_image_fid=361052]</p>

<p data-end="1714" data-start="1524">Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.</p>

<p data-end="1945" data-start="1716">The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.</p>

<p data-end="1945" data-start="1716">[smartcode_project:default project_id=112661 project_image_fid=359607]</p>

<p data-end="2220" data-is-last-node="" data-is-only-node="" data-start="1947">More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.</p>
</section>
</section>

<p>[smartcode_project_cta:default project_id=112661]</p>


SIERA kicks off construction at Northcliffe tower Exhale

<p data-end="320" data-start="79">Local Little Bay residents, along with buyers from premium postcodes across Sydney’s affluent Eastern Suburbs, have dominated purchases in developer-builder Urban Property Group’s first Eastern Suburbs apartment development, <a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a>.</p>

<p data-end="638" data-start="322">The $250 million coastal project, one of the first new developments in the area in several years, has proven particularly popular with downsizers, especially those from Coogee and Bondi. One Double Bay downsizer paid $4.7 million for a four-bedroom penthouse, setting a new local apartment price record in the process.</p>

<p data-end="864" data-start="640">Buyers have been attracted to the combination of coastal tranquillity, premium design and amenity-rich neighbourhood living. The walkable village setting, along with proximity to three of Sydney’s leading golf courses, New South Wales Golf Club, St Michael’s Golf Club and The Coast Golf Club, has also been a key drawcard.</p>

<p>[smartcode_project:default project_id=112343 project_image_fid=352689]</p>

<p>Built across two low-rise buildings designed by <a href="https://www.apartments.com.au/architects/hill-thalis-architecture-urban-projects-pty-ltd">Hill Thalis</a> and set along a lush, landscaped green spine, designed by leading landscape architect <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>, ESTE Little Bay offers a collection of one, two, three and four-bedroom residences with interiors by Richards Stanisich.</p>

<p><a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> Sales Director, Tom McIvor said the response to ESTE has been "nothing short of extraordinary."</p>

<p>“Buyers have been quick to recognise ESTE as a rare opportunity to invest in a coastal sanctuary that offers both seclusion and connectivity to the heart of Sydney,” McIvor said.</p>

<p>[smartcode_project:default project_id=112343 project_image_fid=352687]</p>

<p><a href="https://www.apartments.com.au/project-marketer/srm-residential">SRM Residential</a> Senior Director, <a href="https://www.apartments.com.au/project-marketer/srm-residential">Clayton Ross</a> said the local market has responded incredibly well, driven by ESTE’s exceptional location and the rarity it offers.</p>

<p>“We’ve seen strong interest from a variety of buyer groups, all of whom are drawn to the exclusivity and quality of the build and construction by the 4.5-star iCIRT-rated builder / developer, Urban Property Group. There’s truly nothing else like it along Sydney’s coastline.”</p>

<p>[smartcode_project:default project_id=112343 project_image_fid=352690]</p>

<p>The project also includes robust buyer protections, including Resilience Insurance’s Latent Defects Insurance, providing 10 years of structural cover, and an independent iCIRT-rating of the developer.</p>

<p>“The iCIRT-rating adds another layer of confidence,” Ross added. “Buyers see it as a safeguard for their investment and their lifestyle.” A highlight of ESTE’s offering is its exclusive wellness amenities, including a heated rooftop infinity pool and outdoor heated spa, a state-of-the-art Technogym fitness centre, and a sauna.</p>

<p><a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a> is topped out and is on track to complete towards the end of 2026, with residents moving in before Christmas.</p>

<p>[smartcode_project_cta:default project_id=112343]</p>


Eastern Suburbs buyers snap up ESTE Little Bay apartments

Residential Sales

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<p>GUEST OBSERVER</p>
<p>As national property prices continue to climb in most capital cities – by more than nine percent in Melbourne and Sydney – we encourage buyers and sellers to get serious about the property valuation process as seasonal transactions gather pace.</p>
<p>The Spring season historically attracts a flurry of activity. As prices increase alongside competition, sellers need to be confident in the true value of a property to attract appropriate buyers, while buyers need to ensure emotions are not driving purchasing decisions and risking finances.</p>
<p>Here are the seven dangers of overvaluing property that buyers and sellers must be aware of:</p>
<p><strong>Potential to miss out on initial buyer interest</strong></p>
<p>If a seller’s asking price is too high, in most instances a property will sit on the market, while more appropriately priced properties are sold. As a result, a seller may drop their asking price but in doing so, risks losing the initial round of buyer interest - often strong when a new property is listed.</p>
<p>Remember, the longer a property is on the market, the more difficult it can be to stimulate interest. The cost to advertise a property for an extended period can also compromise gains made from a sale.</p>
<p><strong>Over-confident agents can over-promise on price</strong></p>
<p>Sellers need to be confident in their choice of real estate agent, as agents have been known to overvalue a property to win business. While this is not characteristic of most agents, I encourage sellers to request and check an agent’s sales history, and compare this with median sales prices of properties sold in the area.</p>
<p>Sellers should always consider a valuation from more than one real estate or valuation agent, and I advise buyers to do the same before making an offer, as this will assist in sales negotiations.</p>
<p>Websites such as realestate.com.au also provide sales prices of recently sold properties nationally.</p>
<p><strong>Lender valuation doesn’t always match market price<br><br></strong>Most banks or lenders independently value a property before granting a loan. Buyers need to be mindful that the value set by lenders is often lower than the market value, usually to protect the lender from potential risks should the buyer struggle to meet loan repayments.</p>
<p>If there is a difference on price, this may jeopardise the loan approval process and require the buyer to pay a larger deposit. When applying for finance, I encourage buyers to save a 20 percent deposit rather than 10 per cent to act as a financial buffer.</p>
<p><strong>Emotional purchases can hurt pockets</strong></p>
<p>Certain buyer demographics, such as owner-occupiers, are known to place a higher price on a property when emotions are involved. Buying a property is a major life investment, but too often I see buyers stretching their finances to secure their dream home. With more than two-thirds of owner-occupied mortgages now held by duel income households, and over 700,000 households at risk of mortgage stress, buyers need to be serious about paying within their means.</p>
<p><strong>Investors not immune to defaults</strong> </p>
<p>Housing loans to Australian investors totaled more than $11.8 billion in July, and the 30-plus day delinquency rate for prime residential mortgage backed securities is reportedly rising.</p>
<p>While there is no need to ring alarm bells, less sophisticated investors risk biting off more than they can chew at a time when interest rates are at record lows. As a general rule, I suggest investors have more than 30 percent in equity before releasing this to purchase another property. Any investor, novice or seasoned, should also engage the help of a trusted property mentor and financial advisor before making investment decisions.</p>
<p><strong>Seasonal competition alters prices </strong></p>
<p>Buyers purchasing property in highly sought after locations and in popular periods such as Spring should expect prices to increase above their market value – especially properties sold at auction, where prices can climb by tens or even hundreds ofthousands. Sellers equally need to be mindful that buyer competition, trendy locations and investor hotspots can come and go. Just because a property is sought after at the time of auction or sales campaign does not mean the property will be valued at the same amount in 12 months’ time.<strong> </strong></p>
<p><strong>Renovations don’t always offer immediate gains</strong></p>
<p>It is not uncommon for property investors to purchase older properties and make cosmetic and structural improvements in the hope of making quick capital gains. While owner-occupiers may undertake renovations to maximise a future sale, short term investors risk losing time and money if they over-estimate a property’s post-renovation value. Before buying, I recommend investors obtain quotes from at least three qualified trades companies to compare costs – once a building inspection is completed – and obtain market intelligence on properties sold in the area to ensure sales history aligns with expectations.</p>
<p>Buyers and sellers need to do their homework to ensure they are confident on the market value of a property, as well as the future demand of property in the location being considered. When completing a suburb profile, buyers should always remember to investigate an area’s historical and projected population growth, established and planned infrastructure, percentage of tenants and owner occupiers, vacancy rates, and median income demographics.</p>
<p><em>Tim Godden is national director of investor buying service Seekology and can be contacted <a href="https://seekology.com.au" target="_blank">here</a>.</em></p>
<p> </p>
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jchancellor-FAypfDUnLy

The 7 dangers of overvaluing property this spring: Tim Godden

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<p>A charming, traditional cottage converted into a hair and beauty salon is now under offer in Brisbane.</p>
<p>Located at <a href="https://www.realestate.com.au/property-house-qld-paddington-123488754" target="_blank">193 Latrobe Terrace</a>, the 111 sqm retail business premises are often admired.</p>
<p>It was converted into the salon in 2008.</p>
<p>It last sold at $1.13 million in 2008, around double the $560,000 of four years earlier.</p>
<p>The nostalgic, inner city haven enjoys an elevated northerly aspect with space for entertaining clients, casual workplace luncheons.</p>
<p>A private and modern downstairs apartment (74m2 approx.) offers two bedrooms, galley kitchen and a comfortable living area with French doors opening onto the large lower deck.</p>
<p>It also provides off street parking sufficient for three cars with public transport directly in front of the property.</p>
<p>The property is offered through Ray White agent George Hadgelias.</p>
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j.ballantyne1990-6AQqhLzZaK

Charming, traditional Paddington Queensland hair and beauty salon offering

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<p>Four capitals secured 80 percent plus weekend auction clearance rates. </p>
<p>The strengthening markets of Canberra, Melbourne and Adelaide have joined Sydney, which is now being challenged as the nation's strongest auction market. </p>
<p>There were around 2,246 held across all the capital cities with a preliminary national clearance rate of 79 percent. </p>
<p>At the same time last year, CoreLogic had the results as substantially lower, with 69 percent of auctions sold, with considerably higher volume, some 3,016 capital city auctions.</p>
<p>Canberra had the top clearance rate at 86 percent across 68 auctions.</p>
<p>"This is the highest clearance rate Canberra has recorded this year, while one year ago the clearance rate was lower at 62 percent," Kevin Brogan at CoreLogic advised. </p>
<p>Canberra prices ranged in a tight range between $285,000 at Gungahlin for a one bedroom townhouse and <a href="https://www.realestate.com.au/sold/property-house-act-yarralumla-123595690" target="_blank">$1.37 million in Yarralumba</a> (below).</p>
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<p>Sydney hosted 774 auctions this week with an 81.5 percent clearance. Last year 1,197 auctions were held and the clearance rate was 69 percent. </p>
<p>Melbourne, with 1,110 scheduled auctions, had an 81.2 percent success rate.</p>
<p>"One year ago, in Melbourne, the clearance rate was 73.4 percent," Brogan noted with 1,400 offerings on the same Saturday last year. </p>
<p>Almost 4,000 Melbourne auctions are expected in October with three Super Saturdays scheduled, the REIV chief, Geoff White said.</p>
<p>Melbourne had the highest sale when $4.35 million was paid in Canterbury, well above the $3.5 million plus price guidance for the<a href="https://www.realestate.com.au/sold/property-house-vic-canterbury-123581542" target="_blank"> four bedroom Monomeath Place offering (below).</a></p>
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<p>Next most expensive was a vast 1920s apartment on the Beaconsfield Parade, Middle Park promenade which sold for $3.07 million having had a <a href="https://www.realestate.com.au/sold/property-apartment-vic-middle+park-123587986" target="_blank">$2.7 million plus price guidance</a> (below).</p>
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<p>The third priciest home sold in Melbourne was by Dea and Darren Jolly, stars of past series of Channel 9 show, The Block.</p>
<p>They pocketed a nice gain from the sale of their Kew East-rebuild with a $2.908 million auction result (below). </p>
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<p><img src="/images/2016/10/10/Screen%20Shot%202016-10-10%20at%208.45.17%20AM.png" alt=""></p>
<p>They'd spent a year and about $1 million rebuilding the <a href="https://www.realestate.com.au/property-house-vic-kew+east-123577366" target="_blank">1920s California bungalow</a> after purchasing it in a rundown state for $1.395 million in June last year. </p>
<p>Melbourne also had the nation's cheapest result which was $259,000 for a three bedroom brick house in Melton.</p>
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<p>In Adelaide auction activity, the 80 percent success rate was the highest reported for the year from around 100 listings.</p>
<p>Over the same week last year it was 64 percent of the 127 offerings. Adelaide prices ranged between $280,000 at Oaklands Park and $1.3 million for a four bedroom 1930s Tudor style home at <a href="https://www.realestate.com.au/property-house-sa-linden+park-123514022" target="_blank">Linden Park which was sold pre-auction</a> (below).</p>
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<p>Preliminary results show that Brisbane’s clearance rate sat at 55 percent, comparable to the 54 percent last year. Brisbane prices ranged between $530,000 at Calamvale and <a href="https://www.realestate.com.au/property/11-glasnevin-st-indooroopilly-qld-4068" target="_blank">$3 million pre-auction at Indooroopilly on the river</a> (below).</p>
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<p>Sydney's top sale which was $4.12 million in Vaucluse (below), the onetime home of then barrister, Neville Wran, who became the state's 35th premier in 1976.</p>
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<p><img src="/images/2016/10/10/Screen%20Shot%202016-10-10%20at%208.52.51%20AM.png" alt=""></p>
<p>The <a href="https://www.realestate.com.au/property-house-nsw-vaucluse-123565550" target="_blank">10 Princes Avenue home</a> was where Wran lived in the 1960s with his first wife Marcia and their two children, Glenn and Kim.</p>
<p>Daniel Baran, of The Agency, said the $4.12 million sale was above reserve by more than $600,000.</p>
<p>The 1920s home on its 650 sq m block was purchased by Wran for £13,000 in 1961 and sold five years later for $40,000.</p>
<p>The property last traded in 1993 for $890,000.</p>
<p>It was the city and east with the highest regional clearance rate at the weekend with 98 per cent success, according to CoreLogic.</p>
<p>The next highest was the lower north with 92 percent.</p>
<p>The Sydney south west had the lowest clearance rate of 52 per cent.</p>
<p>Melbourne's sub-region top performer was the North East region at 87 percent from 114 auction results which included an <a href="https://www.realestate.com.au/property-house-vic-heathmont-123557894" target="_blank">$858,000 three bedroom home at Heathmont</a> (below).</p>
<p><img src="/images/2016/10/10/500_melbourne.jpg" alt=""></p>
<p>It's sale price was close to the $878,000 median house price paid at weekend auctions across Melbourne, according to Domain calculations.</p>
<p>CoreLogic's Kevin Brogan said auction volumes had rebounded following the Labour Day long weekend which coincided with the AFL and NRL grand finals.</p>
<p><a href="/images/2016/10/10/Screen%20Shot%202016-10-10%20at%2010.48.11%20AM.png" target="_blank">Click to enlarge</a></p>
<p><span style="font-size: 12.16px; line-height: 1.3em;"><span><img src="/images/2016/10/10/Screen%20Shot%202016-10-10%20at%2010.48.11%20AM.png" alt=""></span></span></p>
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Canberra, Melbourne and Adelaide challenge Sydney as the nation's strongest auction market

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<p>Chinese capital has a huge role to play in Australia's housing market over the next few years, for better or for worse. </p>
<p>But there are some looming obstacles. </p>
<p>New South Wales recently introduced a 4 percent stamp duty surcharge for non-resident buyers, with a 0.75 percent land tax. </p>
<p>Harsh, yes, but not as onerous for apartment buyers as the 7 percent stamp duty surcharge that became effective from 1 July in Victoria, while Queensland has also introduced a 3 percent surcharge. </p>
<p>Meanwhile, banks and brokers fearing investigation have become extremely reluctant to lend to non-resident buyers declaring only foreign income. </p>
<p>With a record volume of apartments due for completion over the next two years, and many of these having been bought off the plan by overseas buyers, one way or another one feels that something has to give. </p>
<p><strong><span style="text-decoration: underline;">Fork...</span></strong></p>
<p>At this juncture it feels like it could go either way.</p>
<p>We know that Australia (and particularly Melbourne and Sydney) is a favourite destination for Chinese capital. </p>
<p>Across the drink, Vancouver recently introduced a monster 15 percent tax on non-residents which has turned Chinese investors away and is pushing that housing market south. </p>
<p>This could in turn lead more Chinese buyers to look at Australia as the destination for their fleeing capital.</p>
<p>Although prices have gotten more expensive in Australia for local buyers, thanks to foreign exchange movements this is not so for the Chinese. </p>
<p>Unit prices may have increased by 41 percent over the last four years in Sydney, for example, but when translated into CNY prices have not moved up at all in real terms. </p>
<p><a href="/images/2016/09/28/CNY.jpg" target="_blank">Click to enlarge</a></p>
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<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>
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Chinese buyers... where to from here? Pete Wargent

Five reasons why spring is not a good time to buy property: Brenton Tidow

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<p>The top sale for the week ending 18 September is a six bedroom, three bathroom house in Armadale, Victoria.</p>
<p>The property, 367 Dandenong Road, Armadale, sold for $5,525,00 through Marshall White Armadale.</p>
<p>Top ten sales</p>
<p>367 Dandenong Road, Armadale, Vic  6 bed, 3 bath, 2 car house $5,525,000  Marshall White Armadale </p>
<p>1 Northcote Road, Lindfield, NSW  5 bed, 3 bath, 2 car house $4,300,000  McGrath Estate Agents </p>
<p>142 Homebush Road, Strathfield, NSW  5 bed, 2 bath, 5 car house $4,200,000  Devine Real Estate Strathfield </p>
<p>4 Abernethy Street, Seaforth, NSW  4 bed, 2 bath, 4 car house $4,100,000  LJ Hooker  Seaforth </p>
<p>10 Stanley Street, Chatswood, NSW  6 bed, 4 bath, 3 car house $3,715,000  LJ Hooker  Willoughby </p>
<p>9 Salvado Street, Cottesloe, WA  4 bed, 2 bath, 4 car house $3,600,000  Mack Hall Real Estate Claremont </p>
<p>30 Seaforth Crescent, Seaforth, NSW  5 bed, 4 bath, 2 car house $3,500,000  Cunninghams Property Balgowlah </p>
<p>33 Beach Road, Collaroy, NSW  4 bed, 1 bath, 1 car house $3,450,000  Belle Property  Dee Why </p>
<p>1/29 Prince Street, Cronulla, NSW  3 bed, 3 bath, 2 car unit $3,400,000 Abode Property Agents </p>
<p>150 Bannockburn Road, Turramurra, NSW  5 bed, 4 bath, 2 car house $3,380,000 Di Jones  North Shore Wahroonga </p>
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Armadale Victoria family home leads CoreLogic top 10

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<p>Rising property prices, especially in Sydney and Melbourne, has sparked an increase in parents going guarantor on their children’s home loan in recent years, according to research by Mortgage Choice.</p>
<p>According to Mortgage Choice’s annual First Home Buyer Survey, 4.9 percent percentof all first home buyers had a parent or immediate family member go guarantor on their home loan, up from 3.9 percent in 2015 and 3.8 percent in 2014.</p>
<p>Mortgage Choice chief executive officer John Flavell said the “slight jump in demand for home loan guarantors is unsurprising when you consider that property prices have risen fairly substantially across most property markets over the past few years”.</p>
<p>Property prices across the combined capital cities rose 8.3 percent over the last financial year, with Sydney and Melbourne the standout performers, according to CoreLogic.</p>
<p>“Given that property prices continue to rise month after month, it is little wonder why so many first home buyers are finding it difficult to put a foot on the property ladder without some form of financial support,” said Flavell.</p>
<p>“By having a family member go guarantor on a home loan, first home buyers are not only able to get their foot on the property ladder sooner rather than later, but they can also potentially avoid paying Lenders Mortgage Insurance.”</p>
<p><img src="/images/2016/09/15/Screen%20Shot%202016-09-15%20at%2011.26.51%20AM.png" alt=""></p>
<p>Today, many lenders allow a family member to go guarantor on a home loan, using the equity in their property as additional security. </p>
<p>While the primary security for the borrower’s home loan is the property they purchase, the lender also takes a mortgage over the guarantor’s property. This mortgage does not support the loan directly, but is used to support the guarantor’s financial guarantee.</p>
<p>Flavell said guarantors effectively help borrowers – especially first time buyers - save thousands of dollars.</p>
<p>“As property price growth continues to outpace wage growth, it is becoming harder and harder for first time buyers to save the deposit they need in order to purchase property,” he said.</p>
<p>“By having a guarantor, first home buyers can (in most instances) borrow the full purchase price and sometimes even the costs associated with purchasing property. The amount of the guarantee depends on the individual lender's policies. The guarantee can vary from the full loan amount to as little as 20 percent of the loan (where the loan is for 100 percent of the purchase price).</p>
<p>“After a first home buyer builds up equity in their property, their guarantor can ask to be released from the loan.</p>
<p>“Provided the first home buyer can comfortably make their regular mortgage repayments, there is very little risk associated with this type of financial assistance. As such, I would expect to see continued growth in the proportion of first home buyers using guarantors.”</p>
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More parents going guarantor to help their children onto property ladder: survey

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<p>The top sale for the week ending 11 September was a five bedroom family home in Sydney's eastern suburbs.</p>
<p>The property, 18 Faraday Avenue, Rose Bay, sold for $5.5 million through Position Reality Rose Bay.</p>
<p>Top 10 sales</p>
<p>18 Faraday Avenue, Rose Bay, NSW 5 bed, 4 bath, 2 car house $5,510,000  Position Realty  Rose Bay </p>
<p>11 Lucretia Avenue, Longueville, NSW 4 bed, 2 bath, 2 car house $4,925,000  McGrath Estate Agents </p>
<p>1120 North Steyne, Manly, NSW 4 bed, 3 bath, 4car unit $4,550,000  Belle Property  Manly </p>
<p>11 Adelaide Street, Armadale, Vic 4 bed, 4 bath, 2 car house $4,500,000  Hockingstuart  Armadale, Prahran, Malvern </p>
<p>1705/81 Macleay Street, Potts Point, NSW  3 bed, 2 bath, 2 car unit $4,450,000 Richardson &amp; Wrench Elizabeth Bay/Potts Point </p>
<p>61 Cross Street Double Bay, NSW 3 bed, 3 bath, 1 car house $4,425,000 Bradfield Cleary  Double Bay </p>
<p>4 Robina Road, Sydenham, Vic 3 bed, 2 bath, 2 car house $4,425,000  Barry Plant  Taylors Lakes  </p>
<p>2/36 Louisa Road, Birchgrove, NSW 4 bed, 4 bath, 3 car unit $4,420,000  Cobden &amp; Hayson Balmain </p>
<p>144 Tenth Avenue, Austral, NSW 4 bed, 1 bath, 1 car house $4,150,000 LJ Hooker  Leppington  </p>
<p>36 Roseville Avenue, Roseville, NSW 5 bed, 2 bath, 2 car house $3,825,000 Di Jones  North Shore Wahroonga </p>
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Five bedroom Rose Bay family home leads CoreLogic's top 10

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<p>Sydney had the nation's highest sale when a four-bedroom waterfront home at 78 Wrights Road, Drummoyne sold for $8.05 million.</p>
<p>The pre-auction price guidance was $6 million to $6.5 million. The waterfront home came with jetty, pontoon and a permanent boat mooring facility (above). </p>
<p>The property was one of about 540 scheduled to go under the hammer across the city on Saturday, the first day of the spring selling season. </p>
<p>Domain Group put the Sydney clearance rate at 80 percent and CoreLogic at almost 84 percent.</p>
<p>The number of homes taken to auction across Australia over the weekend fell slightly to 1,858, compared to the 2,153 auctions held last week and 2,297 one year ago, CoreLogic advised.</p>
<p>The 78 percent national clearance rate was higher than the previous week’s result of 74 per cent and up from last year, when the clearance rate was recorded at 73 percent and in decline.</p>
<p>The results show that Sydney's 83.9 percent rated higher than the improving Melbourne which had a 79 percent success rate.</p>
<p>Both cities were host to fewer auctions this week when compared to last week.</p>
<p>Melbourne's preliminary clearance was up from last week’s result of 77.4 percent.</p>
<p>The 79 percent clearance rate is the highest preliminary rate Melbourne has recorded this year.</p>
<p>"It also marks the ninth week in a row that Melbourne’s clearance rate has been recorded above 70 percent," CoreLogic spokesperson, Kevin Brogan said.</p>
<p>The preliminary clearance rate is higher than the 75 percent one year ago.</p>
<p>There were 826 auctions held in Melbourne, down from last week’s 1,060 auctions and lower than the 992 auctions held at the same time last year.</p>
<p>Of the nine sub-regions in Melbourne, the strongest performer was the Mornington Peninsula where 93 per cent of the 30 reported results were successful.</p>
<p>A five-bedroom 2002-extended 1930s house on 1300 sq m in Kew sold through Jellis Craig for $6.24 million ranked as Melbourne's top seller (below).</p>
<p><img src="/images/2016/09/05/Screen%20Shot%202016-09-05%20at%209.05.40%20AM.png" alt=""></p>
<p>It last sold in 1997 at $1.27 million. More than $5.5 million was the pre-auction price guidance.</p>
<p>Kew also had Melbourne's second dearest sale at $4.8 million at 51 Rowland Street.</p>
<p>In Sydney, a preliminary clearance rate of 83.9 per cent was recorded, up on 78 percent over the prior period. There were around 540 weekend auctions and 780 across the week.</p>
<p>"Since the final week in April this year, Sydney has consistently recorded weekly clearance rates above the 70 per cent mark," Kevin Brogan said.</p>
<p>"One year ago, auction activity across Sydney was significantly higher, with 1,023 auctions held and 76.9 percent clearing."</p>
<p>Ryde's 95 percent and the Northern Beaches' 91 percent recorded the highest preliminary clearance rates of the sub-regions.</p>
<p>With 135 Brisbane homes taken to auction, Brisbane recorded their highest preliminary clearance rate for the city this year at 58 percent, up from 44 percent last week and higher than one year ago, when 42 per cent of the 130 properties taken to auction were successful.</p>
<p>In Brisbane, the most expensive residential property to sell was a renovated Hamptons-style, five-bedroom house at Bardon which sold for $2.5 million to a Singaporean couple (below).</p>
<p><img src="/images/2016/09/05/Screen%20Shot%202016-09-05%20at%209.06.49%20AM.png" alt=""></p>
<p>The pre-war Queenslander at 167 Simpsons Road was transformed with an 18 month renovation had previously traded at $1,186,000 in late 2014.</p>
<p>Brisbane had the nation's cheapest weekend auction result which was $330,000 on Macleay Island. The 137 Beelong Street two bedroom, with water views across the bay, sold through First National Real Estate.</p>
<p>Adelaide saw a preliminary clearance rate of 80, across 57 reported auctions; the highest Adelaide has recorded for the year.</p>
<p>Over the previous week Adelaide’s clearance rate was 63 percent and 69 at the same time last year.</p>
<p>In Perth, auction numbers fell to 26 this week with a preliminary clearance rate of 16 percent. Just six auctions have been reported.</p>
<p>Last week, the final clearance rate for Perth was 34 percent across 29 auctions.</p>
<p>Canberra’s preliminary rate was 77 per cent this week, compared to 71 percent last week and 71 percent one year ago.</p>
<p>The week’s 77 percent is the highest preliminary clearance rate Canberra has seen since early March this year.</p>
<p>CoreLogic has captured 76 results, rising from 56 last week. </p>
</body></html>

More capital cities secure year high clearance rates 

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<p><span>The REIWA has released the top 10 most searched suburbs for sale on reiwa.com in 2016 with </span>Canning Vale, Baldivis and Scarborough rounding out the top three.</p>
<p><span>Of those 10 suburbs, seven were ranked in the top 10 suburbs for sales activity in the three months to June 2016. Nine featured in the top 20. </span><br><br><span>All 10 suburbs are ranked in Perth’s top 25 suburbs for sales activity in the June quarter.</span></p>
<p><span>Most searched top 10</span></p>
<ol>
<li>Canning Vale</li>
<li>Baldivis</li>
<li>Scarborough</li>
<li>Perth</li>
<li>Morley</li>
<li>Rockingham</li>
<li>Ellenbrook</li>
<li>Dianella</li>
<li>Byford</li>
<li>Thornlie</li>
</ol>
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