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 Sales

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The top sale for the week ending August 28 was a five bedroom apartment in Sydney's Darling Point.
The property, 18A/21 Thornton Street, Darling Point, sold for $6.3 million through Richardson &amp; Wrench Double Bay. It last traded for $475,000 when purchased in 1980 by the late Singapore property tycoon Cho Poon Chow, so seven percent annual price growth over the 36 years.
Top 10 sales
18A/21 Thornton Street, Darling Point, NSW 5 bed, 3 bath, 2 car unit $6,300,000 Richardson &amp; Wrench Double Bay 
8 Campbell Road, Deepdene, Vic 5 bed, 3 bath, 2 car house $6,205,000 Kay &amp; Burton Hawthorn 
Northbrook Avenue, Malvern, Vic 4 bed, 3 bath, 2 car house $4,940,000 Abercromby’s Real Estate Armadale 
11 Claude Street, Chatswood, NSW 5 bed, 3 bath, 2 car house $4,150,000 Shead Property Chatswood 
61 St Albans Street, Abbotsford, NSW 3 bed, 1 bath, 1 car house $3,930,000 Devine Real Estate Strathfield 
142 Middle Harbour Road East Lindfield, NSW 5 bed, 4 bath, 2 car house $3,760,000 McConnell Bourn Lindfield 
3 Governor Phillip Place, West Pennant Hills, NSW 5 bed, 5 bath, 3 car house $3,600,000 Louis Carr Real Estate West Pennant Hills/ Cherrybrook 
60 Tuffy Avenue, Sans Souci, NSW 4 bed, 5 bath, 5 car house $3,520,000 Raine &amp; Horne Sans Souci 
15 Winter Street, Malvern, Vic 4 bed, 2 bath, 1 car house $3,510,000 Kay &amp; Burton South Yarra 
10 Ideal Avenue, Aspendale, Vic 5 bed, 3 bath, 4 car house $3,325,000 Hockingstuart Mentone 
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jonathanchancellor-7SQnKwU6yx

Darling Point, Sydney trophy leads top 10 sales: CoreLogic 

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Buying and selling real estate property in Queensland is covered by many different laws.
Real estate property includes land, houses, units, townhouses, retirement villages and timeshare.
<h2>Getting professional help</h2>
Buying or selling your property is a huge financial commitment and you should think carefully about who you deal with.
Before signing anything, you should get legal advice on buying or selling your property. The Queensland Law Society can refer you to a solicitor.
Using a licensed agent to buy or sell real estate protects you under the Property Occupations Act 2014 (PDF, 916KB). Licensed agents must meet industry-based standards and codes of conduct. If you buy or sell privately, you will not be protected under the Act.
<h2>Contracts</h2>
Contracts for the sale of real estate must be in writing. In most cases, there is a standard contract, which is approved by the Real Estate Institute Queenslandand Queensland Law Society.
<h3>Conditions</h3>
You might want to make the contract conditional on some things happening, such as:
<ul>
<li>getting a satisfactory building and pest inspection</li>
<li>getting a loan to finance the purchase</li>
<li>selling your existing property.</li>
</ul>
A lawyer can advise you about important conditions but, before you sign anything, make sure you understand it.
<h3>Cooling off period</h3>
You have a cooling off period of 5 business days; however, if you cancel the contract in the cooling off period, you’ll have to pay a fee, which is a percentage of the purchase price. It’s important to get legal advice about your options.
<h3>Deposit</h3>
When you sign the contract, you usually pay a deposit. Sometimes the seller will accept a small deposit on signing, and the rest of the deposit once the contract becomes unconditional. There’s no set amount for a deposit, it is up to the buyer to say what they will accept.
<h2>Conveyancing</h2>
Once you sign a contract, it takes some time for the sale of the property to be finished. The process that happens after the contract is signed is called conveyancing.
Conveyancing involves all steps necessary to ensure that the registration of the land is in the name of the buyer at the government's land title office.
During the conveyance period, searches are done to ensure that the property is owned by the seller and not affected by things such as proposed reclaiming of land, contaminated land, easements or other government requirements.
You may do your own conveyancing or have it done for you.
You should get legal advice even if you plan to do your own conveyancing.
<h2>Buying or selling at auctions</h2>
If you decide to buy or sell a property at auction, generally the property will be offered for sale to the highest bidder. If your bid is accepted, you must sign an unconditional contract immediately. This means that, if you want to buy at auction, you need to check everything out before the auction. There is no cooling off period if you buy at auction.
<h2>Mortgages</h2>
If you borrow money to buy, build or renovate a property from a bank, building society or other lender, you usually do this with a mortgage. The lender (the mortgagee) creates a legal document (a mortgage) where you (the mortgagor) offer the property as security until you pay out the loan. If you do not make payments on the loan, the lender can sell the property to recover what you owe them. The sale of the property is called a mortgagee sale.
In a mortgagee sale, the lender must sell the property for a reasonable market value. The lender can keep money from the sale to cover the costs of sale and all the money you owe. Any money left over will be paid to you.
If the sale does not make enough money to cover what you owe the lender, you will remain legally responsible for the extra amount and the lender can take you to court you to recover the owed money.
<h2>Caveats</h2>
A caveat is a document that prevents any dealings with land (e.g. prevents the land from being sold). A caveat must be lodged with Titles Registration in the Department of Natural Resources and Water.
If you wish to lodge a caveat, you should get legal advice, as you may have to pay costs if you lodge a caveat when you have no legal right to do so.
<h2>Joint ownership</h2>
When you own a property as a joint tenant, you and the other tenants own the property together.
It is not divided into shares; you each own the whole property together. If you own property as a joint tenant, you cannot leave that property in your will. When a joint tenant dies, their ownership in the property automatically passes to the surviving joint tenants. If you are the only surviving joint tenant, you will be the sole owner of the property.
If you want to end a joint tenancy, you should get legal advice.
If you own property as a ‘tenant in common’, you own a defined share of the property. This might be an equal share with the other owners or a defined percentage (e.g. 50% each or 25% and 75%).
As a tenant in common, you can transfer your share to someone else, so you can leave your share in the property in your will.
<h2>Transfer duty and land tax</h2>
If you are buying an investment property or home to live in, you will need to know about:
<ul>
<li>transfer duty—all transfers of land and property are liable to transfer duty (formally known as stamp duty). Find current transfer duty rates.</li>
<li>land tax—this tax is charged yearly on the total unimproved value of the land you own. Generally, you are exempt from land tax if your home is your principal place of residence. Take a land tax exemption eligibility test.</li>
</ul>
<h2>Further information</h2>
<ul>
<li><a href="https://www.qld.gov.au/housing/buying-owning-home/" target="_blank">Read more about buying property in Queensland</a></li>
<li><a href="https://www.osr.qld.gov.au/client-group/property-investor/index.shtml" target="_blank">Read more about transfer duty and land tax</a></li>
<li><a href="https://www.qld.gov.au/housing/building-home/" target="_blank">Read more about building a home in Queensland</a></li>
<li>
<a class="download" href="https://www.reiq.com/media/44596/REIQ-Standards-of-Business-Practice_v6.pdf" target="_blank">Read the REIQ standards of business practice (PDF)</a>.</li>
</ul>
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Property 101: Laws for buying and selling property in Queensland

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Queensland's Sunshine Coast is relatively young compared with other areas of the country, and staying ahead of the gentrification curve can prove profitable to property investors, according to valuation firm Herron Todd White.
The property consulting firm's property clock for March dealt with gentrification trends across Australia, identifying the hot spots.
In the Sunshine Coast, the older areas are typically found around the original council centres of Caloundra to the south, Maroochy to the centre and Noosa to the north. The main driver of gentrification is generally that these older areas are well located to amenities and close to the beach, thus creating demand for these locations as desirable places to live. 
In the old Caloundra Shire, the areas around Moffat Headland have always been popular. These areas have accelerated over recent years with a number of renovations or re-builds being undertaken. Being close to the beach and the village atmosphere really helps this area along. Remaining with the close to the beach theme, areas around Golden Beach to the south of the town centre and the Kawana strip to the north are seeing 30 to 50 year-old-housing being upgraded. 
The median price of houses in Caloundra was $444,000 according to RP Data. For units, it was $370,000.
In Maroochydore in the old Maroochy Shire, areas around the current and proposed town centres are in demand. Typically these are 1970s and 1980s vintage houses with the entry level being circa $400,000. Throw some dollars and nice design features at it and $500,000 should be achievable. Other areas of Alexandra Headland, Mooloolaba and Cotton Tree down on the coast and Buderim up on the hill have been going through this gentrification process over a number of years. 
Up north in the Noosa Shire the areas in Old Tewantin near the river and town centre and also Noosa Junction are seeing a significant number of renos and rebuilds, once again, in areas close to shops and cafes and the beach or river. 
One example in Old Tewantin is a property purchased for around $400,000. The owners undertook a sharp renovation and were able to achieve circa $575,000 - a great result. 
The type of gentrification has been restricted mainly to housing but there is a rise in duplexes and small lot housing which have really started to appeal to the lock and leave crowd who would rather travel then have to look after a big yard. 
Property Observer tracked down a two-bedroom unit at <a href="https://www.realestate.com.au/property-unit-qld-caloundra-122717314" target="_blank">16/41 Canberra Terrace, Caloundra, Qld 4551</a> (above) that recently sold for $375,000, around the median price.
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Sunshine Coast's older areas score on desirability due to location: HTW

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Olympians are lining up to secure property gold across the country from their auction listings.
Mark Turnbull, the Sydney 2000 sailing gold medallist, has his Gardenvale home listed for late August auction through hockingstuart agent Peter Kennett.
Turnbull — who won the 470 Class event at the Sydney 2000 Games — has $2 million plus hopes for the <a href="https://www.realestate.com.au/property-house-vic-gardenvale-123241858" target="_blank">four bedroom contemporary home</a> (above).
It was built four years ago for his family who will be upsizing in the area where the Olympian grew up.
James Stewart, who competed at the 1996, 2000 and 2004 Olympics in rowing, is selling his Mosman home in Sydney.
The renovated three-bedroom <a href="https://www.realestate.com.au/property-house-nsw-mosman-123313522" target="_blank">1910 Federation Ourimbah Road semi </a>(below) is listed with LJ Hooker agent Cameron Scott.
<img src="/images/2016/08/22/400_oly2.jpg" alt="">
Elsewhere in Mosman, the Olympic fast man Matt Shirvington and wife, Jessica have relisted their Mosman home for a third marketing campaign.
The updated 1897 Federation home is offered through McGrath's Michael Coombs with a $4.3 million to $4.6 million price guidance.
Shirvo, known as the second fastest Australian sprinter of all time, paid $2.5 million in 2008, the year he retired as a professional athlete.
Shirvington is currently a sports presenter on Fox Sports NRL coverage. 
Other former Olympians have turned their drive to selling property as estate agents. 
The water polo player Gail Miller, who secured gold in 2000, has joined a Brisbane agency.
She holds a property economics degree from QUT.
“Every time the next Olympics comes around you do start to reminisce about those times and memories,” she told The Courier Mail.
“In one sense it feels like yesterday and in another it feels like a lifetime ago.
“It sets the path to the rest of your life, you can do whatever it is you want.”
In Sydney's east Carl Wilson, who swam at the 1988 Seoul games, sold an investment property of the Sydney Swans captain Kieren Jack recently for $1,815,000.
 
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firstname1-iYD4UYzvBa

Olympians busy on the home front

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Sydney's Saturday auction colosseum, Strathfield again produced the nation's top seller.
It was a $6.8 million <a href="https://www.realestate.com.au/property-house-nsw-strathfield-123168366" target="_blank">Tudor style four bedroom home</a> (above) on 2000 sqm with tennis court and pool.
The home had last traded at $3.35 million in 2008. It took the sales tally from 12 offerings along Newton Road to $45 million plus since early 2015.
Sydney had around 650 weekend auctions, with a preliminary clearance rate of 86 per cent, representing a significant rise from last week’s 78 percent, and again higher than one year ago when it was 76 percent. 
"The preliminary clearance rate is the highest Sydney has reported since the first week in June 2015 of 88 percent," CoreLogic's Kevin Brogan advised. 
There were 930 auctions held in Sydney one year ago.
Some 1,747 capital city auctions were held and preliminary results reflected a national 76 percent success rate, rising from the 75 percent the prior week across 1,471 auctions.
Auction volumes remain significantly lower, as one year ago CoreLogic tallied 2,248 homes taken to auction across the combined capitals.
Melbourne also maintain its place as the second strongest performing city. 
This week there were 785 auctions in Melbourne, up from 605 last week, and still below the auction activity recorded at the same time last year with 964 offrings.
The weekend’s 76 percent clearance rate is higher than one year ago, when 74.3 percent of reported results were successful.
Melbourne’s strongest performing sub-region was the outer East, with an 83 percent success across 49 auction results.
Kew had Melbourne's top sale when six bidders competed for <a href="https://www.realestate.com.au/property-house-vic-kew-123171118" target="_blank">83 Mount Street</a> (below) which fetched $3.66 million.
<img src="/images/2016/08/22/Screen%20Shot%202016-08-22%20at%208.14.14%20AM.png" alt="">
It was a finalist by Englehart Homes in the 1996 Housing Industry Association awards.
Another Kew offering at 61 Molesworth Street passed in at $3.65 million with no bidders. 
Melbourne had the nation's cheapest auction when a one bedroom apartment fetched $185,000 at <a href="https://www.domain.com.au/10-117-anderson-road-albion-vic-3020-2012957351" target="_blank">10/117 Anderson Road</a>, Albion through hockingstuart Point Cook. It last sold at $177,000 in 2012 when it was rented at $180 a week. It's last rental asking price was $210 in 2014. 
<img src="/images/2016/08/22/Screen%20Shot%202016-08-22%20at%208.15.23%20AM.png" alt="">
There were 124 Brisbane auctions held, jumping from 87 last week, but not quite reaching the same 143 offerings last year.
Brisbane prices ranged from $299,000 at Forest Lake to $1,514,500 million at Corinda for a <a href="https://www.realestate.com.au/property-house-qld-corinda-123193778" target="_blank">renovated 1920s Queenslander</a> (below).
<img src="/images/2016/08/22/400_QLDR.jpg" alt="">
Brisbane agents secured a 56 percent success compared to a one year ago at 54 per cent.
With 93 offerings, Adelaide’s clearance rate this week was 66 percent, falling from 68 percent, and lower than one year ago when it was 72 percent.
There were 44 auctions held in Canberra with its 72 percent clearance rate up from 59.6 per cent last week and higher than the 71 percent one year ago.
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jchancellor-FAypfDUnLy

Strathfield tops weekend results with $6.8 million sale

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The Wollongong CBD, being located 90 kilometres south of the Sydney CBD in the Illawarra property market, rides on the coat tails of Sydney’s property market, according to Herron Todd White.
The valuation firm said with a substantial boom taking place in Sydney since 2012 many people have been looking outside the capital cities for housing accommodation, with affordability a big driver.
"One region that has benefited is the Illawarra," it noted.
"Combined with access to established and developing infrastructures and a coastal lifestyle, it’s not hard to understand why people are putting up with a 60 to 90 minute commute across Sydney when they can live close to some of the state’s best beaches for a more affordable price with a similar commute time.
"It is Wollongong’s northern suburbs that get impacted the most directly," their latest report added pinpointing Helensburgh, which is only a 50 minute train ride to Sydney’s Central station.
It signalled the geographic proximity also has had a flow on effect to Sydneysiders who have a preference for a weekender down the South Coast.
"Hot spots such as Kiama, Gerringong and Huskisson all experience a significant boom when times are good.
"A trend has also developed recently where young Sydney singles or couples are priced out of the first home market in their desired location in Sydney.
"They are happy to continue to rent and live close to their work but are also eager to get into the property game.
"They are therefore looking to invest in a more affordable region and properties in the Illawarra are able to meet their requirements of price, return and capital growth potential.
"It’s often been said by property professionals that there can be anywhere from a one to six month lag between the Sydney and Illawarra property markets.
"If this is true, those in the region will benefit from a heads up when the market eventually steadies itself."
Traditionally a steel region, the Illawarra property market has often ebbed and flowed with the strength of the mining and steel industries.
But HTW said these are diminishing as the local economy transitions to a region whose emerging and substantial drivers are education, tourism and aged care.
Recent growth in the health and aged care industry and further development of world class tertiary education infrastructure attracting domestic and international students are testament to this successful regional strategy.
It also suggested Nowra township and surrounds, (Shoalhaven City Council) traditionally a region underpinned by defence force employment, has benefited in particular from its recent discovery by Sydney buyers, which is assisting in diversifying the workforce so that the property market no longer feels the effects of a downturn within a particular industry so acutely.
A two bedroom cottage, 17 Hay St Helensburgh (above), recently sold for $712,000.
The median price for a home in Helensburgh is $770,000, according to CoreLogic.
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Sydney singles finding Illawarra property investments affordable

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In Queensland’s Gladstone, half-a-million can fetch you a well appointed, modern home with a pool or shed on an allotment above 800 square metres and located in an established suburb close to all urban amenities, say valuation firm Herron Todd White. 
Their July 2016 residential market report focuses on properties in the sub $500,000 sector.
Properties in the $500,000 to $600,000 price range are thinly traded in the current market, say HTW. 
“Alternatively you could purchase a couple of modern three-bedroom townhouses (roughly $250,000 each) or several older two-bedroom townhouses (sub $100,000 each),” say HTW.
Half a million is also considered near enough for entry-level rural residential property. This market sector has seen some more significant declines in 2015 after having held its value over the past couple of years.
In line with HTW's assessment, Property Observer found a four-bedroom house with a pool at <a href="https://www.realestate.com.au/property-house-qld-gladstone+central-122612414" target="_blank">3 William Street, Gladstone Central, Qld 4680</a> (above) for $330,000.
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Modern home with pool is what $500,000 can buy you in Queensland’s Gladstone: HTW

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GUEST OBSERVER
There’s been a lot of chatter lately about an impending property oversupply and waning investor demand.
Sorting through stories about the imminent burst, homeowners and investors are relishing in the news that property prices have climbed and that capital gains are plentiful. Knowing which ‘expert’ to trust can be as challenging as predicting Melbourne’s weather. Just like news has a cycle, property has one too and the same way every overnight sensation blows over, the hype of oversupply will too.
The best type of investor you can be is an impartial one, so take back the control by arming yourself with the facts and don’t let the hype hinder your future.
Fact Vs. Fiction
BIS Shrapnel recently released a report outlining that by 2017, most cities will be in the thick of an apartment oversupply and Melbourne’s inner suburbs will be among the worst hit. Sounds alarming but let’s take a look at the facts. According to the Australian Bureau of Statistics, Melbourne is Australia’s fastest growing capital city, adding 91,600 people in 2015 – 2.1 percent more than Sydney.
Within that period of rapid growth, there were only 50,000 new dwellings constructed yet some experts are still convinced that the crash is coming. We’re not trying to prove the media wrong, but we are encouraging you to search beyond the sentiment and filter fact from fiction.
Trend Is Your Friend
Throughout the ages, property supply has ebbed and flowed in line with population growth and affordability and on the other side of every oversupply is an undersupply. Embrace the trend, it’s reassuring. Looking at the past, we know that property has doubled every 8 to 10 years and that on average, units gain 4.5% every year.
Hallmarks Of Homework
Before writing off your investment for fear of an oversupply, take a macro look at the Melbourne market. Last year, 7 out of the country’s top ten growth areas were in Greater Melbourne – find those areas and do your research. The hallmarks of a solid property investment are infrastructure, growth, schools, cafes, amenities and a growing population. You don’t need to be an expert to do your homework, it’s as easy as taking a drive and getting to know the neighbourhood.
Practice Patience
In the words of the Warren Buffet ‘Only buy something that you’d be perfectly happy to hold if the market shut down for 10 years.’ The short-term market sentiment is always irrational and fear breeds failure, so keep your focus on the future and remember that property is a long game. Before you take the property plunge, set yourself up for success and know your risks.
The problem with a lot of the commentary is that it gives a one-sided, somewhat sensationalised view of what’s going on and more often than not, it’s from an outsider's perspective. Sure, it’s easy to believe what you read, but at the end of the day, the question you should be asking yourself is whether the decisions you’re making are informed and aligned to your investment strategy. 
Marshall Condon is founder and chief executive officer of <a href="https://neueblack.com.au" target="_blank">Neue Black</a>.
 
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Filtering property fact from fiction: Marshall Condon

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In NSW North Coast, there's little change from 12 months ago in terms of what one can score in property with a lazy half a million, according to valuation firm Herron Todd White's July 2016 residential market report on homes in the sub-$500,000 range.
The product mix may have varied slightly, particularly in the more regional areas within the Richmond Valley and Kyogle Council areas.
"In a lot of ways it resembles a typical poker hand," say HTW. For example, consider the five of a kind:
• Five $100,000 (or less) vacant steep timber 40 hectare bush blocks in the rural localities of Drake or Tabulam; or
• Five $100,000 standard vacant residential blocks in Casino or Kyogle. Relatively flat but may ask slightly more than $100,000 individually, so a package deal of say five at the nice round figure of $100,000 each would be hard for a vendor to pass up in the current subdued market.
"Alternatively, secure a nice three- to four-bedroom, two-bathroom house with a garage for around $300,000 to $350,000 and throw in another vacant residential block at $100,000 to $120,000."
There are not too many residential properties within Casino or Kyogle that would use up the whole $500,000 in one transaction, however, those that do usually deliver the full quota of features from air-conditioning, good quality appointments, pool, established landscaping or full renovation of an older style character home.
For those inclined towards a more rural residential setting, there are opportunities to use a substantial part of the $500,000 to acquire established properties of modern four-bedroom, two-bathroom homes with double garages in close proximity to the town centres of Casino and Kyogle.
Typically, such properties would comprise lots ranging in size from 4,000 square metres to five hectares. Semi-remote rural localities with properties on lots from 40 hectares to 100 hectares may still be purchased under $500,000 and provide semi-modern homes with established ancillary improvements, however, distance and maintenance of the land are factors that any potential purchaser must consider.
"Within Lismore city, the lazy half million is somewhat more restricted in its purchasing power, however, opportunities are still available. Good quality level vacant residential lots are around the $200,000 mark in the new, developing residential estates, so buy two and possibly use the remaining $100,000 as a $50,000 deposit for a house to be built on each of the lots, or purchase one of the steeper vacant blocks for around $100,000 (just keep in mind that your building costs will rise significantly)."
It should be relatively easy to find two residential house properties for around $250,000 each, however, they are likely to be located in a flood prone area, need some cosmetic attention or front a busy road.
There are a number of two-bedroom, one-bathroom, brick and tile residential units with single carports available within reasonable proximity of shopping and educational facilities in Lismore city which have an expected price range of $130,000 to $170,000 and attract a rent of around $175 to $200 per week.
Failing that, and if you so wish, $500,000 would go a long way to fully or near fully acquire or brand new four- or five-bedroom, two-bathroom, double garage residence in the modern residential estates of Goonellabah or Lismore Heights (where most of the new build action is) with pool and established landscaping.
The rental assessments can vary widely depending on features, but expect something in the order of $450 plus per week.
"At present, even with the record low interest rate levels, the future of any significant price improvement is not generally clear or warranted as there is still the overriding climate of that old age concern....is my job secure?” say HTW. "Therefore, don’t expect any significant rapid sales activity any time soon."
Property Observer tracked down a three-bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-lismore-113095571" target="_blank">36 Keen Street, Lismore, NSW 2480</a> that sold recently for $252,000, leaving another $250,000 to invest as HTW suggests.
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<img src="/images/2016/08/05/lismore.png" alt=""> </div>
The Clarence Valley
Further to the south in Yamba, $500,000 does not get you as close to the beach as it did 12 months ago where the June 2015 entry point was for a circa 1980s canal home or an older circa 1950s dwelling close to the beach.
Entry point now is in a modern four-bedroom, two-bathroom modern dwelling in Yamba’s residential estates located west of Yamba town centre. However, a three-bedroom, two-bathroom strata townhouse complex by the beachside is still within reach and includes resort facilities and holiday rental income.
In Yamba, the $500,000 and above market is driven by steady interest from the capital cities due to the town’s good proximity to proposed large infrastructure developments such as the Pacific Highway. In the region surrounding Grafton, $500,000 is considered to be in the premium residential range and has stayed pretty steady in comparison to 12 months ago. Properties may include large residential grazing cattle farms of over 50 hectares to modern quality built residential dwellings on acreage parcels close to Grafton.
Byron Bay/Lennox Head/Ocean Shores
There is little that can be purchased in or around Byron Bay or Lennox Head for a lazy half million and your money will take you only as far as a basic two- or three-bedroom townhouse or villa located just west of Byron Bay township in the Sunrise Estate.
Lennox Head has even less to offer and you would be lucky to see a duplex unit on the market for around $500,000. Buyers around Byron Bay and Lennox Head will almost need a lazy $700,000 to enter the market. A lazy half million will be easier to spend in Ocean Shores where a semi-modern to modern three-bedroom house can be purchased around the $500,000 mark. There has been relatively little change in the past 12 months in Ocean Shores.
Property Observer found a two-bedroom, two bathroom house at <a href="https://www.realestate.com.au/property-unit-nsw-byron+bay-122352434" target="_blank">5/20 Sunrise Boulevard, Byron Bay, NSW 2481</a> recently sold for $457,500.
<img src="/images/2016/08/05/byronbay.png" alt="">
<div class="propertyStats">Ballina/Alstonville</div>
The options of what $500,000 can get you are somewhat limited and more so than 12 months ago. Finding a house in West Ballina or Ballina Island is becoming more difficult and similar to 12 months ago, you will need to settle for a circa 1970 to 1990 two- or three-bedroom unit if you wish to be close to the beach. There are still opportunities to purchase a house in Alstonville or Wollongbar around the $500,000 mark.
The other alternative is to purchase land in an Alstonville or Wollongbar residential estate and build a project home. This can still be done in Ballina (Ferngrove and River Oaks Estate) and Cumbalum (Ballina Heights), however, a basic project home is really all you will get for your lazy half million.
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NSW North Coast "resembles a poker hand" in the sub-$500,000 property market: HTW

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GUEST OBSERVER
The return to dominance of homebuyers is seen as a major positive for property markets around Australia.
This follows several years in which foreign and local investors have been the major players, but the tide is now starting to turn in favour of owner-occupiers.
We want to see homebuyers driving the market. Lender restrictions in response to the Australian Prudential Regulation Authority (APRA) crackdown have helped to generate a marked drop-off in loans to investors.
At the same time, state governments surcharges and tighter lending criteria for offshore borrowers are likely to curtail the buying by foreign investors, which were at record levels in 2015.
We are likely to see a pullback in foreign investment into Australian residential real estate, which is a positive thing because it has tripled in the last two years. We think this is a good thing for the stability of the market.
Performance Property research indicates that both Sydney and Melbourne have passed their peaks, in terms of the optimum time for investors to buy. However, Adelaide and Brisbane both have positive indicators for investors, while Perth may present possibilities for counter-cyclical buyers.
Our assessment of the five major city markets is as follows:
Sydney:
It’s clear this market has peaked. The Performance Property affordability index is at 59 percent for Sydney – historically, the market has pulled back whenever the index has risen beyond 47 percent. This has happened three times since 1985 and each time the outcome has been that prices post-boom have stagnated or fallen slightly.
The Sydney market has been under-supplied since 2007, with vacancies at their lowest levels since 2008, and both wages and population growth remain strong.
But the affordability equation is negative and typical gross yields are now 2.2 percent. It’s pretty hard to build a case for strong short-term price growth in Sydney.
Melbourne:
Like Sydney, the affordability index for Melbourne has reached a level where prices stagnate - and typical gross yields are down to 2.5 percent, indicating the market has peaked.
The number of properties listed for sale is low and days on the market are low also, so there’s still strong competition in selected markets and suburbs. Population growth remains strong and we may see some rental growth, which would see yields increase.
However, the Melbourne market is starting to run out of steam. It has the second lowest yields in the nation and is well ahead of its long-term price comparison.
The Melbourne market has some clear distinctions: there’s an oversupply of inner- city apartments causing downward pressure on rental and price growth, but a shortage of quality housing stock in established suburbs placing upward pressure on prices and rents.
Adelaide:
Historically Adelaide capital growth rates have been in line with the major capital cities, which surprises a lot of people. The long-term compound growth rate is 8.4 percent, but in the last five years it’s been under-performing, around 2.4 percent per year. It’s now showing some real value for investors and there are some positive signs emerging within the local economy to underpin growth.
When the affordability index for Adelaide is around 25 percent, it generally means prices will rise. Currently it’s around 27 percent, making this market very affordable and attractive for first-home buyers and ‘next-time buyers’. It’s a major positive for the Adelaide market.
The Adelaide market is oversupplied by 3,500 dwellings but again it’s a tale of two markets: a real under-supply of A Grade family accommodation within close proximity of the CBD, particularly in the school belts which will underpin price growth, but oversupply in other areas.
Brisbane:
The affordability index is about 30 per cent - in the past when it’s been in the 25-30 percent range, there have been price rises in this market. Income growth has been out-pacing price growth in South-East Queensland, which is a positive for the Brisbane market, while recent price growth has been below par.
Brisbane generally has been under-supplied since 2006 but we are starting to see that change, particularly with the looming oversupply in the inner-city apartment markets. Vacancy rates have increased, reflecting the amount of apartment stock being built. But good-quality family homes are in undersupply and in some pockets we are seeing solid price and rental growth.
Perth:
This is a wait-and-see market. The affordability equation is quite positive for Perth, at 27 percent. When it gets down to 25 percent, historically it leads to price increases so there could be some price growth in Perth in the medium term.
A weakening economy and an oversupply is the biggest issue for the Perth market, with vacancies now over 5 percent, rents down 15 percent and prices down 10 percent over the past three years.
The market hasn’t quite bottomed out, net interstate and net overseas migration is slowing, wage growth has slowed and unemployment is on an upward trend, which is contributing to the fragility in the local economy and confidence in the market. Vendors are continuing to discount and that’s likely to continue.
The Perth market is starting to show some signs of value for investors from a counter-cyclical viewpoint, but we are awaiting more evidence.
Heath Bedford is associate director of Performance Property Advisory and can be contacted <a href="https://performanceproperty.com.au/" target="_blank">here</a>.
 
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