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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We all know Spring as supposedly the best time to be bringing your home to the market. 
What is often forgotten is that if everyone acts in the same way looking to sell during Spring, there is a lot more competition amongst vendors and it can be more difficult to sell.  In fact, looking at auction markets, the clearance rate quite regularly falls during Spring as volumes rise.
<a href="/images/2016/11/27/chart-1-1.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/27/chart-1-1.jpg" alt="">
On a weekly basis throughout 2016, auction clearance rates across the combined capital cities have been recorded at an average of 70.9 percent.  If we compare this to the previous years, the average weekly auction clearance rates were recorded at: 48.0 percent in 2011, 50.4 percent in 2012, 66.2 percent in 2013, 67.8 percent in 2014 and 72.0 percent in 2015.  Over recent years clearance rates have fallen over the final quarter of the year, however, this year there has been no such fade-away in clearance rates.  In comparison to 2015 for example, auction clearance rates were much higher earlier in the year than they have been this year while in 2015 clearance rates faded substantially over the final quarter of the year.
<a href="/images/2016/11/27/chart-2-2.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/27/chart-2-2.jpg" alt="">
The average number of properties being put up for auction each week has been lower in 2016 than it has been over recent years.  So far in 2016, there has, on average, been 1,765 auctions each week across the capital cities.  By comparison, average auction counts over recent years have been recorded at: 1,384 in 2011, 1,334 in 2012, 1,733 in 2013, 2,029 in 2014 and 2,170 in 2015.   
Auction volumes so far this year have been similar to those in 2013 however, in 2013 average clearance rates were on average quite a bit lower at 66.2 percent compared to 70.9 percent this year.  If we look at the past three years auction volumes through the final quarter of the year, we can see volumes rising through Spring as the selling euphoria hits.  So far this year, , volumes have risen but they have not hit the heights of 2014 and 2015, subsequently auction clearance rates have so far not faded through the end of the year like they did in 2014 and 2015 and have in each of the previous years highlighted.
A lower volume of auctions overall has certainly been a key driver of why auction clearance rates have been stronger this year.  Importantly, this is not just a feature of the auction market itself, new and total listings in the two largest auction markets (Sydney and Melbourne) are lower than they were a year ago so overall, there is less stock available for sale to choose from.
<a href="/images/2016/11/27/chart-3-2.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/27/chart-3-2.jpg" alt="">
Focusing on auction statistics for the final quarter of each of the past four years in the regions of Sydney and Melbourne it shows that almost every region in both cities has seen an increase in average auction clearance rates so far in 2016 compared to 2015.  At the same time, average auction volumes are lower than they were last year across all regions of Sydney and Melbourne. 
In Sydney in particular the regions that have had relatively weaker auction clearance rates over recent years have generally so far this year seen proportionally fewer auctions.  This seems to suggest that vendors are getting more selective about using an auction to sell in those areas which are not traditional auction-centric markets.
The combination of fewer overall properties for sale, fewer homes being taken to auction and vendors being more selective around which homes to auction seems to be resulting in much stronger auction clearance rates.  Additional factors over the year such as lower interest rates are also likely to be supporting the market.  If these conditions persist, it is reasonable to expect that for the remainder of 2016 and into 2017 the auction market will remain strong.
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Cameron Kusher is research analyst for CoreLogic. You can contact him <a href="https://blog.corelogic.com.au/about/">here</a>.
 
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ckusher-ujnxiKuFQs

Spring auction clearance rates not fading like past selling seasons

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EXPERT OBSERVER
CoreLogic estimates of monthly settled sales data points to a levelling in housing market activity, following several years of falling home sales.
Despite signs that market activity is leveling out, annual transaction numbers remain lower year on year across every capital city region of the country.
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Annually, transaction volumes continued to decline, however, recent monthly data indicates that transaction volumes may have stabilised. 
The decline in home sales has taken market activity to similar levels as what was recorded during the previous downturns in 2008-09 and 2011- 12.
Nationally, an estimated 412,154 settled dwelling sales occurred over the past 12 months which was - 17.5% fewer than the previous year. 
Although sales volumes are lower on an annual basis, monthly sales volumes have risen from recent lows and although market activity is lower than a year ago, the number of sales is relatively unchanged over recent months.
<img src="https://www.urban.com.au/images/2019/7/18/CL%201.png" alt="">
Sydney recorded an estimated 82,427 settled sales over the 12 months to June 2019; -21.9% fewer than the previous year and well down on the decade average.
 While annual sales are significantly lower, the chart highlights that on a six-month trend basis, sales volumes have started to increase slightly but are sitting at a level close to what was recorded in the 2008-09 downturn. 
With an unprecedented volume of off-the-plan unit stock under construction and already under contract, there will inevitably be some revision to these figures over coming years.
<img src="https://www.urban.com.au/images/2019/7/18/CL%202.png" alt="">
The six-month trend for Melbourne shows that the estimated number of sales trended slightly higher over recent months. 
Notwithstanding the recent improvement in transaction volumes, market activity has fallen to levels similar to those during the 2011-12 housing downturn.
Annually there were an estimated 64,546 settled sales over the past year which was -27.0% lower than over the previous year.
<img src="https://www.urban.com.au/images/2019/7/18/CL%203.png" alt="">
Unlike Sydney and Melbourne, there is little evidence as yet to indicate that transaction volumes in Brisbane may be stabilising. 
Transaction volumes continue to trend lower on a monthly basis and, although they are similar levels to those in 2008-09 they are not yet as low as volumes were during 2011- 12 downturn. 
Over the past year there were an estimated 39,641 settled sales across Brisbane which was -13.4% lower than annual sales over the previous year.
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The estimate of monthly sales across Adelaide have been trending higher over recent months and market activity has recently trended above the decade average.
Although there has been a recent uptick in sales volumes, over the past 12 months there were an estimated 22,650 settled sales which was -4.1% previous than the previous year.
<img src="https://www.urban.com.au/images/2019/7/18/CL%205.png" alt="">
Perth sales transactions slumped over recent years as the housing market downturn has carried on. 
Transaction volumes have recently stabilised, albeit at a level below previous housing market downturns. 
Over the past 12 months there were an estimated 29,263 settled sales which is -7.3% lower than the previous year. 
Although sales are lower on an annual basis monthly data suggests market activity has been steady of late.
<img src="https://www.urban.com.au/images/2019/7/18/CL%206.png" alt="">
Hobart is one of the few capital cities where sales have been above the decade average over recent years.
 Monthly transaction volumes have been declining for two years and are now sitting at around the decade average levels and likely to fall further. 
Over the past 12 months there were an estimated 4,691 settled sales which was down -11.4% compared to the previous year.
<img src="https://www.urban.com.au/images/2019/7/18/CL%207.png" alt="">
Transaction volumes in Darwin fell on an annual basis over the past year, down -9.2%. 
With ongoing market weakness, monthly data indicates that housing market activity has continued to slide, with the decline mirroring the ongoing decline in dwelling values. 
With the NT seeing a population loss and negative jobs growth, it seems as if demand for housing is continuing to shrink which is a major contributor to the ongoing slide in sales activity.
<img src="https://www.urban.com.au/images/2019/7/18/CL%208.png" alt="">
Although the monthly sales estimates are below the decade average in Canberra, market activity has begun to steady over recent months. 
On an annual basis, there was an estimated 7,386 transactions over the past year which was -8.6% lower than sales volumes over the previous year.
<img src="https://www.urban.com.au/images/2019/7/18/CL%209.png" alt="">
Across most cities there are some tentative signs that sales volumes may have bottomed. With two 25 basis point cuts to interest rates and lenders now lowering their serviceability buffers, access to finance is easing somewhat and borrowing power is increasing which should support a further increase in transaction volumes. 
One of the challenges for the market at the moment is historically low volumes of new properties entering the market for sale which is contributing to the low volume of sales. We anticipate that come Spring, new listings will increase which should lead to more transaction activity.
The challenge for vendors will be whether or not a potential pick-up in listings is accompanied by a commensurate pick-up in buyers in the market. While some restrictions on credit have been removed, accessing finance is still much more difficult than it has been in the past so demand could still be fickle over the coming months. 
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CAMERON KUSHER is the head of research for the Australian branch of CoreLogic
Kusher regularly posts on the <a href="https://www.corelogic.com.au/news" target="_blank">CoreLogic website</a>.
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j.ballantyne1990-6AQqhLzZaK

Home sales and housing market stabilising: CoreLogic's Cameron Kusher

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Looking into the mainstream-media property reports with respect to rental and vacancy rates; one questions how the data is obtained.
I have from time to time, questioned my brew of coffee but I can do so as I am personally tasting it.
The data about property being provided on the other hand is not as personal to the analysts nor the economists offering their property-charts to the general public.
Most, if not all their data comes from the main "property portals" and are highly reliant on real estate agent's, property manager's (PM) accuracy and detail of what is truly available.
"Trust me I'm a real estate agent, comes to mind..." However, in the case of listing rental-properties, it is prudent not to list all the units in the block: time, resources and the perception to the market are factors to be considered.
The proof is in the pudding
They say the proof is in the pudding. Well, the same may be said for the data and the reports.
The fact is, the data obtained by analysts comes from two main sources, three at best. These sources are; RPData, Domain website and the REA website. Now, how accurate is this data? No where near the truth...
So why is this data flawed? 
Put simply, the data is flawed due to a basic anomaly; real estate agents “property managers” DO NOT place/advertise entire blocks of units on the property portals. At best case, the PM will advertise a mix of units: a one bedroom, a two bedroom and a three bedroom apartment.perhaps even one or two more; if they have a different floor plan.
I have had a recent look at the property portals and across three buildings I know off in Parramatta alone, there are 12 adds which advertise the units available in these blocks. However, across these three high rise blocks, there are approximately 700 apartments.
As a conservative guesstimate, coupled with the conversations I have had with the marketing companies that sold these units; it can be estimated that 80% have been sold to investors.
For now, also consider; how many apartment blocks are being completed and are nearing completion across Sydney? Hmmm a lot, you say? Now add a few more to what you believe. 
You guessed it; a lot available and soon to be available for rent...
You be the judge
For the very reasons I have written about in the past and now; I do not recommend for Investors to buy into the overheated property market of Sydney.
Of late, I have ventured out of Sydney to secure property for our clients. Property with steady rental returns and long term tenancies. More to the point, we have steered away from newly built property with unsustainable rental returns.
The real question
Is there really a shortage of rental property in Sydney? I say NO.
Most definitely not. Now you may dispute this and show me report after report. Again and again I will walk you though what is truly happening on the ground. Take you to, building after building that PM's only list 3-4 properties on the property portals and where there are over 120 units available in the recently built block.
Show me the real data...
EDWIN ALMEIDA is licensee in charge of <a href="https://www.just-think.com.au/" target="_blank">Just Think Real Estate</a>.<a href="https://www.just-thin.com.au/"> </a>
He is also the creator of <a href="https://www.youtube.com/user/JustThinkProperty" target="_blank">Oz Real Estate.TV</a> and a presenter for <a href="https://propertyinvestingvault.com/" target="_blank">propertyinvestingvault.com</a>.
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ealmedia-arK4DBYLjS

Show me the data: Edwin Almeida

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With the national housing market having experienced more than four years of ongoing value rises, affordability in certain areas is deteriorating and sales that were once considered to be at the top end of the market are now becoming more common. 
With housing becoming more expensive, there has been a substantial rise in the number of homes selling for, or in excess of, $2 million.
When the current growth phase commenced in June 2012, there had been 4,103 dwelling sales of at least $2 million with these sales spread across 884 suburbs (if they have achieved this for houses and units they have been counted twice).  Over the 12 months to March 2016, there had been 11,648 house and unit sales at a price of at least $2 million with these sales recorded across 1,437 suburbs.
<a href="/images/2016/07/26/Chart-1-1-580x198.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/07/26/Chart-1-1-580x198.jpg" alt="">
Looking at the number of sales of at least $2 million, the 11,668 sales were comprised of 10,184 houses and 1,464 units.  Note that the recent dip in sales is likely to be due to the preliminary nature of recent sales data.  Before the financial crisis, the number of sales at or above $2 million peaked at 6,146 sales over the 12 months to February 2008.  They then fell to a low of 3,321 sales in June 2009.  It took until November 2013 for the number of sales of at least $2 million to eclipse their pre-financial crisis level indicating that the premium housing segment was hit particularly hard during the downturn.
<a href="/images/2016/07/26/Chart-2-2-580x196.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/07/26/Chart-2-2-580x196.jpg" alt="">
While the previous analysis looked at the number of sales of at least $2 million, the second chart looks at the number of suburbs that had at least one sale over the year at or above this price point.
Over the past year, 1,139 suburbs had a house sale at or above $2 million and 298 suburbs had a unit sale at that price point.  If we compare this to the pre-financial crisis peak there were 1,193 suburbs that had a sale within this price point before the financial crisis with this figure falling as low as 815 suburbs over the year to June 2009. 
It took until August 2014 for the number of suburbs with a sale at or above $2 million to eclipse the pre-financial crisis level.  With 1,437 suburbs nationally having at least one sale of at least $2 million over the past year it further highlights that housing is becoming less affordable in more suburbs.
<a href="/images/2016/07/26/Chart-3-2-580x197.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/07/26/Chart-3-2-580x197.jpg" alt="">
It is particularly evident of the deteriorating affordability of housing when you look at the number of suburbs with a sale price at or in excess of $2 million over time in NSW and Vic.  As the above chart shows, particularly in NSW and to a lesser extent in Vic, there has been a significant increase in the number of suburbs with sales of at least $2 million over recent years.  This is reflective of housing prices being pushed higher, particularly in Sydney and Melbourne, as home values rise and competition for well-located housing increases.
As home values continue to rise, there will continue to be some bracket creep, with the number of homes selling at $2 million or higher likely to rise further.  We would anticipate an increasing number of sales at or above $2 million over the coming years, particularly in Sydney and Melbourne.  Of course the rising prevalence of sales at this price point is systemic of the deteriorating housing affordability and increasing cost of purchasing a home.
 Cameron Kusher is research analyst for CoreLogic RP Data. You can contact him <a href="https://blog.corelogic.com.au/about/">here</a>.
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The $2 million dollar dwelling sales surge: Cameron Kusher

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The most interesting fact revealed by a St George Bank survey of first-home buyers was buried in the small print of the media statement.
The survey of 1,000 first-home buyers across Australia indicated that 26 percent of respondents said they had to make compromises to buy their first homes. Half of those had to compromise on location while 46 percent had to compromise on price.
I was amazed that only a quarter of FHBs felt they had to make compromises to achieve home ownership. I would have expected it to be close to 100 percent.
When I bought my first home over 30 years ago, I had to make a range of compromises, especially on location and the quality of the house I was buying. But it seems most first-home buyers today don’t feel they had to make concessions on location or price, according to this survey at least.
Media would have us believe that the Great Australian Dream is near dead. Journalists continue to support that notion by quoting the discredited ABS data on borrowers identified as first-home buyers, even though the ABS has issued statements admitting it is under-counting them.
This is because only borrowers with a government grant are identified as first-home buyers and grants are no longer available to first-time buyers of existing homes, which severely reduces the numbers identified as first-home buyers.
The figures also ignore first-time buyers who buy an investment property as a first purchase while continuing to rent their homes – the so-called rentvestors, who are a rising force in Australian real estate.
Other more credible research sources, such as the NAB quarterly Residential Property Survey, indicate that a third of sales of new properties across Australia, and 27% of sales of established properties, are made to first-time buyers (some of which are buying investment properties, rather than a home, as a first purchase).
The 27 buyers of buyers of established homes who are first-timers aren’t counted in the ABS figures, but media regularly quotes the bureau’s figures as an indication that first-home buyers are priced out of the market.
Housing affordability and home ownership have become so politically charged in Australia that it’s impossible to have a calm and rational debate about it.
Even the so-called research is tainted by political objectives, so that almost nothing published is believable. The annual Demographia report clearly sets out to achieve a pre-determined result – that all of Australia is deemed unaffordable – and achieves this by arbitrarily setting the “median multiple” bar ridiculously low, so that a house costing $305,000 is described as unaffordable to someone earning $100,000 a year.
The recent HILDA report was a biased document which had its headline written before the research was conducted. The reported claim by Professor Roger Wilkins that “a whole generation of adults would never own a home” was over the top and not supported by the evidence in the report. 
We continue to have high home ownership rates by world standards, although they are lower than they were 15 years ago, according to this report. Home ownership rates include almost 70 percent in Western Australia, 68 percent in South Australia and 66 percent in Victoria – although given the political tone of the report and its publicity campaign, I’m don’t feel confident believing any of its figures.
Other reports are tainted by suspect data. The longstanding HIA’s quarterly Affordability Report, which has a long track record of telling it like it is, found affordability (as an average across the nation) improved in the March Quarter but deteriorated in the June Quarter. 
The weakness in this report is that it relies on CoreLogic for its price data, which recorded a significant rebound in Sydney prices in the June Quarter – a result that has been starkly contradicted by figures from other major sources, including Domain and SQM Research.
But, taking the latest Affordability Report at face value, it found there had been a worsening of affordability quarter-on-quarter in some jurisdictions (including Sydney, Melbourne, Brisbane and Adelaide) but improvements in affordability in others (such as Perth, Hobart, Tasmania, regional NSW, regional Victoria, regional South Australia and regional WA).
Taking a longer-term view, affordability is the best it’s been in regional Australia at any time in the past five years. We can say the same thing about many individual areas of the nation (including Western Australia, Tasmania and the Northern Territory), though clearly not about Sydney or Melbourne.
The current affordability level in Sydney and NSW is better than it was five years ago, but not as good as it was four years ago before the Sydney boom got under way. In Victoria, affordability in the March Quarter was the best it’s been in five years, but then it dropped in June Quarter, caused by the reliance on CoreLogic figures, which differ from several other sources.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a> 
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terryryder-YECXbqmri2

The Great Australian Dream is not dead: Terry Ryder

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An ATO rule was introduced to catch foreign sellers taking money overseas.
But it was applied to all Australian sellers of $2 million-plus properties - and will now cover all sales above $750,000 in an expanded audit which will also catch local hidden black market property sellers.
The rule classifies all sellers as overseas investors unless they get a special tax clearance.
That means that all buyers of $750,000 plus properties must deduct 10 percent from the purchase price and pay that amount to the Australian Taxation Office (ATO) unless the seller can furnish a tax clearance. 
The rule will affect everyone, including Australians, despite being aimed at overseas investors taking their property windfalls overseas.
The measure can be traced back to the days when former treasurer Joe Hockey caved into pressures to curb Chinese investment in Australian residential property in 2015.
In the process, the treasurer was convinced by the Australian Taxation Office to widen the net to cover local residents.
According to an ATO fact sheet, in May 2013, the government announced that it would introduce a 10 percent non-final withholding tax on payments made to foreign residents who dispose of certain taxable Australian property with a market value above a specified $2 million threshold.
The new legislation for this measure became law in February 2016.
The $2 million rule applied to vacant land, buildings, residential and commercial property, leaseholds and strata title schemes.
The ATO website says, "The government is strengthening our foreign resident capital gains tax (CGT) regime to assist in the collection of foreign residents' liabilities."
A purchaser who does not receive a “clearance certificate” from the vendor and does not send 10 per cent of the purchase price off to the ATO will be liable to pay that 10 percent to the ATO plus
In the majority of cases, local resident vendors will have no problem obtaining a clearance certificate, but it might increase the risk of a tax audit for property sellers who:
<ul>
<li>Have not filed tax returns for many years;</li>
<li>Have filed tax returns, which would indicate they could not afford such a property;</li>
<li>Are selling their residential house at the same time as their neighbours to a single developer, which may give rise to a profit making scheme (such that the principal residence capital gains tax exemption may not apply to the value uplift generated by selling the properties together); or</li>
<li>Where the ATO has gathered information that indicates the vendor is in the business of developing property, which means that the principal residence capital gains tax exemption may not apply.</li>
</ul>
It was inevitable that over time, the ATO would shift their audit target identification processes to lower than $2 million-plus property vendors.
If the vendor has a tax debt, the application for a “clearance certificate” may in some circumstances involve the ATO seeking to recover some or all of that tax debt from the purchaser by way of a garnishee notice. 
In June of last year Property Observer reported on the obligations for seller and buyers for $2 million plus clearance certificates.
Similarly in June last year Property Observer reported on new legislation on the sale of $2 million plus homes.
Property Observer also reported in May last year about the upcoming ATO legislation that will affect sales of $2 million.
Property Observer commented on how the new ATO rule on property deals for $2 million houses will affect Chinese buyers.
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jchancellor-FAypfDUnLy

All $750,000 plus property sales to be caught in ATO audit aimed at overseas investors

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EXPERT OBSERVER
Over the 2018 calendar year, the share of sales across the six price points highlighted nationally were: 6.1% under $200,000, 24.8% between $200,000 and $400,000, 28.0% between $400,000 and $600,000, 18.7% between $600,000 and $800,000, 8.7% between $800,000 and $1 million and 13.8% at or above $1 million. 
The most prominent price point for sales was $400,000 to $600,000, while there were more sales of at least $1 million than there were below $200,000 or between $800,000 and $1 million.
The share of sales annually by price point over each five-year period from 1993 to 2018 shows how an overwhelming majority of sales occurred below $200,000 in 1993, compared to virtually no sales below $200,000 in 2018.
Over time, there has been a steady climb in the share of sales across the more expensive price points.
<img src="https://www.urban.com.au/images/2019/3/7/Kush%201.JPG" alt="">
Across the combined capital cities, sales below $200,000 accounted for just 1.8% of all sales, while sales of $1 million properties accounted for 19.5% of all sales.
The dominant price point for sales over the year was $400,000 to $600,000 (28.3%).
The chart clearly highlights the rising prevalence of $1 million sales while supply of stock under $200,000 has reduced substantially.
Sales of properties under $200,000 in regional Australia accounted for 12.9% of all sales over the year, the third largest price point for sales.
The $200,000 to $400,000 price bracket accounted for the largest share of sales over the year (38.1%). Sales of $1 million properties in regional Australia (4.7%) are much less common than they are across the capital cities.
<img src="https://www.urban.com.au/images/2019/3/7/Kush%202.JPG" alt="">
Over the 2018 calendar year, there were virtually no sales under $200,000 in Sydney.
By comparison, 37.0% of all sales were at or in excess of $1 million, which made up the largest cohort of sales.
A decade earlier, $1 million sales accounted for 8.9% of all sales, highlighting the increasing prevalence of million dollar sales in the city over the decade.
30.7% of all dwelling sales in regional NSW in 2018 were between $400,000 and $600,000 closely followed by 30.3% of sales between $200,000 and $400,000.
Sales of million dollar properties had the smallest share of all sales accounting for 6.3% while 9.6% of sales were less than $200,000.
<img src="https://www.urban.com.au/images/2019/3/7/Kush%203.JPG" alt="">
Like Sydney, virtually nothing sold for under $200,000 in Melbourne throughout 2018.
The greatest share of sales occurred between $400,000 and $600,000 (30.4%) and $600,000 and $800,000 (27.1%).
21.7% of all sales were at least $1 million, up from 5.4% a decade earlier.
A decade ago, 51.2% of all sales were between $200,000 and $400,000 compared to just 7.2% last year.
In regional Vic, sales of properties priced between $200,000 and $400,000 were most prevalent over the year (46.7%).
$1 million sales accounted for just 2.2% of transactions, the smallest share of any price point over the past year.
<img src="https://www.urban.com.au/images/2019/3/7/Kush%204.JPG" alt="">
The greatest share of property sales in Brisbane during 2018 occurred at a price between $400,000 and $600,000 (35.6%) followed by $200,000 to $400,000 (28.7%).
Over the year, just 1.7% of sales were below $200,000 compared to 7.8% at or in excess of $1 million.
In regional Qld, there were more sales under $200,000 (9.6%) than there were both five (8.1%) and 10 (7.9%) years ago.
Sales of properties priced between $200,000 and $400,000 accounted for the greatest share of sales (36.6%) followed by $400,000 to $600,000 (29.0%).
While a greater share of sales occurred under $200,000 there has also been an increase in $1 million sales, accounting for 6.0% and up from 2.7% of sales five years earlier.
<img src="https://www.urban.com.au/images/2019/3/7/Kush%205.JPG" alt="">
Most properties sold in Adelaide during 2018 sold for between $200,000 and $400,000 (37.5%), closely followed by $400,000 to $600,000 (33.1%).
Interestingly, there was a greater share of sales under $200,000 in 2018 (5.3%) than there were in 2013 (4.5%).
Similarly, $1 million sales increased their share from 2.4% in 2013 to 5.1% in 2018.
In regional SA, just 5.0% of all sales in 2018 occurred at prices above $600,000.
By comparison, 32.2% of all sales were under $200,000 and 49.2% were priced between $200,000 and $400,000 with the two accounting for 81.4% of all sales compared to 85.3% five years earlier.
<img src="https://www.urban.com.au/images/2019/3/7/Kush%206.JPG" alt="">
Perth dwelling values have been falling for most of the past five years. Despite these falls, the share of sales of $million properties has increased from 7.8% to 9.3%.
While $million sales have increased as a share over the past five years, so too have sales priced between $200,000 and $400,000, increasing from 24.5% five years ago to 30.7%.
There has also been a slight increase in sales under $200,000 (2.2% to 3.3%).
43.4% of all sales in regional WA in 2018 were priced between $200,000 and $400,000 in 2018 while a further 24.7% were priced below $200,000 resulting in 68.1% of sales under $400,000.
Five years earlier a much lower 57.8% of sales were under $400,000.
<img src="https://www.urban.com.au/images/2019/3/7/Kush%207.JPG" alt="">
With strong value growth over recent years, over the 2018 calendar year 43.8% of all sales in Hobart were under $400,000 compared to 68.8% five years earlier.
Million dollar sales accounted for 3.8% of all sales in 2018, up from 1.4% five years earlier.
In regional Tas housing is quite affordable and most sales occur across lower price points with 77.6% of all sales in 2018 priced below $400,000.
Property sales over $600,000 accounted for 5.1% of all sales in 2018, up from just 2.2% five years earlier.
 <img src="https://www.urban.com.au/images/2019/3/7/Kush%208.JPG" alt="">
Just 30.8% of all sales in Darwin throughout 2013 were under $400,000.
With most of the past five years having seen dwelling values fall, a greater 41.3% of all sales in 2018 were under $400,000.
The share of million dollar sales has reduced over the past five years from 2.8% to 2.2%.
The greatest share of sales in regional NT occurred between $400,000 and $600,000 (39.0%) while $800,000 to $1 million accounted for the fewest sales (0.9%).
Five years earlier, the greatest share of sales were occurring between $200,000 and $400,000 (48.0%).
<img src="https://www.urban.com.au/images/2019/3/7/Kush%209.JPG" alt="">
The greatest share of property sales in Canberra occurred between $400,000 and $600,000 in 2018 (36.7%) while five years earlier the largest price point for sales was also $400,000 to $600,000 accounting for 45.5% of all sales.
There has been a particularly large increase in the share of $million sales over the past five years, up to 8.8% of all sales from 2.8%.
<img src="https://www.urban.com.au/images/2019/3/7/Kush%2010.JPG" alt="">
The clear shift over the past five years has been towards a greater share of sales at higher price points.
While you’d expect this in the markets that have seen strong value growth such as Sydney, Melbourne and Hobart, we have also seen it across markets where value growth has been much weaker.
Values are currently declining fastest across the more expensive properties and over the coming year we would expect to see the share of sales over $1 million to reduce as values continue to fall.
As a result, we’d also expect slightly more sales occurring at lower price points, we don’t expect any material change in the share of sales under $200,000, in fact they may reduce further.
CAMERON KUSHER is a Research Analyst at CoreLogic.
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Million dollar property sales became more common in 2018: Cameron Kusher

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The Edgecliff apartment that was home to the late actor Carmen Duncan has been sold for $1.25 million following her death earlier this year.
Duncan, best remembered for her roles on cop shows Division 4, Matlock Police, Water Rats and Homicide, bought the two-bedroom apartment for $450,000 in 1999, around the time she was appearing on All Saints.
With 97 square metres of internal space, it had come with hopes of $1.1 million through Jane Schumann of Raine &amp; Horne.
Her last role was in Hotel Mumbai, the 2018 Hollywood film co-written by local writer John Collee on the Taj Hotel terrorist attack.
This article was first published in the Daily Telegraph.
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firstname1-iYD4UYzvBa

Edgecliff apartment of late actor Carmen Duncan sells

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A Turrella duplex has sold for $1,455,000 at recent auction.
Located at 82 Turrella Street, the home features four bedrooms, three bathrooms, an outdoor bbq area with a gazebo, an in-ground pool, and a lock-up double garage.
The complete block comprises of 403 square metres.
It previously traded in 2003, when it sold for $650,000. The swimming pool was constructed the following year.
Turrella’s median house price is 1,040,000.
Nick Atanasovski, from R&amp;W, listed the property.
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wdavis-8cCN98p7xp

Turrella duplex sells at auction

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The cheapest weekend sale was in Blackett in Sydney’s west when $410,000 was paid for a redundant NSW Housing Department residence.
The three-bedroom Franklin Cres home sold through LJ Hooker Mount Druitt agent Deniz Sagin to an investor renovator. The home sits on a 645 sqm block with granny flat potential.
Mr Sagin advised post-renovation it could attract $380 a week rental, reflecting a 4.8 per cent rental yield before costs.
The suburb’s median price is $450,000, according to realestate.com.au, still well below its $545,000 boomtime 2017 median.
The next cheapest was $462,000 for a three-bedroom Tregear home, just 3km away.
The third cheapest sale was at Bondi Beach, snapped up pre-auction at $535,000. The one bedroom flat, last sold in 2008 at $235,000, was recently a $400-a-week rental, thereby reflecting a 3.9 per cent rental yield.
This article was first published in the Daily Telegraph.  
<a href="https://3franklincres-blackett.ljhooker.com.au/" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://3franklincres-blackett.ljhooker.com.au/&amp;source=gmail&amp;ust=1575329317106000&amp;usg=AFQjCNEIVZk4CPkkMuW4HA1Sr0Okg39Mow"> </a>
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