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The RBA cash rate decision came out at 2.30 today with the decision to hold rates at 1.75 percent.
Monetary policy decisions are expressed in terms of a target for the cash rate, <a href="https://www.rba.gov.au/statistics/cash-rate/" target="_blank">which is the overnight money market interest rate</a>.
CoreLogic head of research Tim Lawless said the RBA has left the cash rate on hold today at the historically low setting of 1.75 percent and mortgage rates are likely to remain at their lowest levels since 1968.
He said in making their decision the RBA is facing conflicting economic trends.  
"On one hand we have an economy that is growing at just over 3 percent per annum, low unemployment and a re-accelerating housing market," he said.
"On the other hand the RBA is confronted with a core inflation reading which is at a record low as well as the lowest wages growth on record.  While the decision to hold rates was widely expected, the prospect of a further rate cut later this year is still well and truly on the cards.  
"If the June quarter inflation data, which is out a week before the RBA’s August board meeting, provides another weak reading, the chances of a rate cut in August are high.  The turnaround in the pace of capital gains across the housing sector is likely to be a concern for the RBA. 
"CoreLogic reported a 1.6 percent rise in capital city home values last week, following a 1.7 percent rise in April. The stronger housing market conditions have been enough to reinflate the trend rate of growth which is something the RBA and the banking sector regulator are likely to be keeping a close eye on.  
"Strong housing market conditions probably wouldn’t be enough to block a further rate cut, however, if the renewed growth trend continues, there is the potential for a further regulatory response that could cool housing market demand while at the same time allowing monetary policy to stimulate the broader economy."
Laing+Simmons managing director Leanne Pilkington said interest rates need not drop any further.
"Most lenders passed on last month’s cut either in full or part. Strictly from a finance perspective, there’s never been a better time to obtain an affordable loan,” she said.
“But a low interest rate is just one piece of the affordability puzzle, and there are many other influences conspiring to keep a property purchase out of the realm of many young people.
“For first home buyers, the situation leading into the election remains unchanged, despite last month’s rate cut. Accumulating a deposit against the background of a less certain economic environment, a changing employment picture and the high cost of renting is more difficult than ever." 
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RBA holds at 1.75 percent at June 2016 meeting

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GUEST OBSERVER
After the Reserve Bank of Australia’s cut the cash rate to 1.75 percent in May due to unusually weak inflation, recent figures show GDP growth, in the March quarter, rose to 1.1 percent, higher than expected.
The unemployment rate remained steady at 5.7 percent, while the global economy continues to paint a motley picture. Relative to last month, the CAMA RBA Shadow Board’s policy preferences have become more hawkish; however, this reflects last month’s divergence between its preferred interest rate setting and the RBA’s actual decision. The Shadow Board attaches a 52 percent probability to a rate hold being the appropriate policy setting. The confidence attached to a required rate cut equals 11 percent, while the confidence in a required rate rise equals 37 percent.
Australia’s unemployment rate stood firm at 5.7 percent. The participation rate remained virtually steady at 64.8 percent. Nominal wage growth at 2.1 percent year-on-year is the lowest it has been in 18 years, reflecting slackness in the labour market and a replacement of high-wage jobs in the mining industry with lower paying jobs elsewhere in the economy.
Last month’s rate cut pushed the Aussie dollar four cents lower, relative to the US dollar; it is trading between 72 US¢ and 73 US¢. For the same reason yields on Australian 10-year government bonds have fallen to under 2.3 percent.
Domestic share prices rose to new highs. The S&amp;P/ASX200 last week closed above 5400, the highest since August 2015. Global stocks markets have been similarly buoyant.
Australian GDP growth was unexpectedly high in the first quarter of 2016, clocking in at 1.1 percent, compared to 0.7 percent in the previous quarter. At this rate, annual GDP growth for the 201⅚ fiscal year will equal around a healthy 3 percent.
The US economy is continuing to grow near potential but the most recent unemployment figures disappointed. Other countries are faring less well. Russia is hoping its economy will start growing again later this year while Brazil just announced its economy contracted by 5.4%, year-on-year, in the first quarter. China’s growth rate is expected to be between 6 percent and 7 percent; recent announcements by the Chinese government of large-scale infrastructure projects are no doubt meant to breathe new life into the Chinese economy. Europe’s economies are expanding modestly, Japan is standing still and there remains uncertainty surrounding the resilience and strength of the world’s developing economies, especially those carrying large debt burdens.
Consumer confidence, as measured by the Westpac/Melbourne Institute Consumer Sentiment Index, leapt from 95 in April 2016 to 103 in May. Business confidence, according to the NAB business survey, fell slightly from 6 to 5 in April. The AIG manufacturing index fell slightly, but the services index, also a leading economic indicator, rose.
The Shadow Board’s confidence measures have shifted considerably. It attaches a 52 percent probability (63 percent last month) that “no change” is the appropriate policy, an 11 percent probability (29 percent last month) that a rate cut is appropriate and a 37 percent probability (8 percent in the previous month) that a rate rise, to 2.00 percent or higher, is appropriate.
It must be borne in mind, however, that the Shadow Board, in contrast to the RBA which lowered the cash rate last month, preferred to keep the cash rate on hold in May. Hence, the current probabilities overall reflect a more hawkish stance relative to the RBA.
The probabilities at longer horizons are as follows: 6 months out, the estimated probability that the cash rate should remain at 1.75 percent equals 24 percent (29 percent in May). The estimated need for an interest rate decrease has fallen from 29 percent to 16 percent, while the need for a rate increase has risen 18 percentage points to 60 percent. A year out, the Shadow Board members’ confidence that the cash rate should be held steady equals 14 percent (19 percent in May), while the confidence in a required cash rate decrease equals 16 percent (19 percent in May) and in a required cash rate increase 70 percent (61 percent in May).
<a href="/images/2016/06/07/Screen%20Shot%202016-06-07%20at%2010.28.31%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/06/07/Screen%20Shot%202016-06-07%20at%2010.28.31%20AM.png" alt="">
For more information, <a href="https://cama.crawford.anu.edu.au/rba-shadow-board" target="_blank">click here</a>.
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The nadir of the interest rate cycle is probably reached: RBA Shadow Board

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SPONSORED POST
Australia definitely is the place to be right now. Pretty much every state and territory in Australia appears to be enjoying steady property growth.
The apartment market is rising and developments are selling out before they’re even built. The low density residential markets in the middle and outer suburbs too are enjoying solid growth.
With property doing well in Australia, you’d think it’s the perfect time to buy, but it’s proving to be probably the hardest it has ever been for first time Aussie investors to enter the market. Banks are asking for bigger deposits, interest rates are on the down turn, and first home buyer grants are only for those first time buyers that want to live in their homes. The question many of us ask is; “Is the government doing anything to help first time investors in Australia?” 
The answer is yes, and they did it 3 decades ago. The introduction of negative gearing and the golden gem that is Property Tax Depreciation, gives investors the chance to reduce the after tax cost of their investment, increase their cash flow all while having a property asset appreciate.
Property Tax Depreciation can be an excellent way to make negative gearing work in your favour. Current interest rates, and a competitive rental market make it very easy for a negatively geared investment to become positive. Positive is good – except for the additional burden of a tax bill!
Understanding your property investment, and the cost of it before you buy is prudent, and knowing the available property tax depreciation can, if anything boost your potential buying power. That extra $10-15k of deductions can make a huge difference in the property game.
Knowing how property tax depreciation works is pivotal when making your first property investment, or any property investment for that matter. As property tax depreciation diminishes over time, the older the property, the less property tax depreciation there is going to be available. One might say it’s always wiser to purchase newer property – this ensures you’ll be able to claim the maximum available property tax deprecation, putting more in your pocket during the life of your investment.
So you’ve bought your investment? Then we come to the harder part – who do we trust? Who do we go to, to ensure we have a maximised property tax depreciation schedule?
In the eighties when residential property tax depreciation was introduced to the Australian taxation system, there was only one company that people turned to; Napier &amp; Blakeley.
Napier &amp; Blakeley were the first professional company to provide residential property tax depreciation advice, and over three decades on, they’re still the market leaders and still providing that same trustworthy advice through NBtax. NBtax is a division within Napier &amp; Blakeley that concentrates purely on the residential property depreciation market.   
With tax time so near, if you’ve purchased an investment property in the past year, make sure you’re prepared with a property tax depreciation schedule that’s best for you.
For more information, <a href="https://nbtax.com.au" target="_blank">click here</a>.
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Making your first property investment possible

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Want a chance to see the star of LA Million Dollar Listing Josh Altman Live in Australia?
Well here's your chance to get some selling insights from one of the most prolific estate agents in the world.
The realtor for the stars has two after-work events coming up in Australia in mid-June 2016.
He will be in Sydney's Star Casino on June 14 and the Plenary MCEC in Melbourne on June 15.
Having dealt with the likes of Kim Kardashian and Kanye West and selling over $2 billion worth of real estate over his career, the celebrity realtor's talk isn't one to be missed.
There are still tickets available if you don't want to take the chance!
<a href="https://www.joshaltman.com.au" target="_blank"> </a>
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Josh Altman - Million Dollar Listing ticket giveaway 

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The preliminary auction clearance rate nudged higher over the first week of winter, however the number of auctions dipped compared with the previous week, according to CoreLogic.
There were 1,953 auctions held over the week, down from 2,480 last week, however higher than one year ago when 1,201 auctions were held and auction volumes were low due to the Queen’s birthday public holiday.
The weekend's preliminary results show that 70.4 percent of capital city auctions held this week were successful, rising from a final result of 67.7 percent last week.
One year ago, across the lower number of auctions, 78.5 percent sold.
<a href="/images/2016/06/06/Screen%20Shot%202016-06-06%20at%2010.20.08%20AM.png" target="_blank">Click to enlarge</a>
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Melbourne and Sydney, the two largest auction markets have maintained strength this week, while across the remaining, significantly smaller auction markets, results have been more varied.
This week, 959 residential properties were taken to auction in Melbourne with 71.4 percent clearing, based on preliminary results. In comparison, over the previous week 1,170 auctions were held with a 71.5 percent clearance rate, while one year ago, given the following Monday was a public holiday, just 315 homes went to auction, with a strong clearance rate of 80.3 percent.
While Melbourne as a whole had a clearance rate of 71.4 per cent this week, across the individual subregions clearance rates ranged from as high as 79.2 percent across the Inner South region and as low as 60.6 per cent across the South East region. The busiest sub-region for auctions was the Inner region with 180 auctions.
<a href="/images/2016/06/06/Screen%20Shot%202016-06-06%20at%2010.22.10%20AM.png" target="_blank">Click to enlarge</a>
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Sydney’s clearance rate rose over the week from 73.2 percent last week to 76.7 percent. The number of auctions held across the city this week was lower than last week, at 654, compared to 811.
One year ago 603 Sydney auctions were held with 88.7 percent clearing. So far this year, Sydney’s clearance rate has remained relatively robust, after dipping to as low as 52.9 percent at the end of last year. However, results across the city are substantially lower than they were at the same time last year, and the volume of auctions held over the year to date is around 20 per cent lower.
This week, the City and Inner South region had the strongest preliminary clearance result across the city (85.7 percent), followed by Ryde at 85 percent and Eastern Suburbs at 84.9 percent.
<a href="/images/2016/06/06/Screen%20Shot%202016-06-06%20at%2010.23.43%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/06/06/Screen%20Shot%202016-06-06%20at%2010.23.43%20AM.png" alt="">
This week auction activity across Brisbane fell, from 192 auctions last week to 129 this week. Last week Brisbane’s clearance rate was 41.7 percent, however preliminary results show a weekly rise to 55.4 percent this week.
One year ago, 130 Brisbane auctions were held with a clearance rate of 48.5 percent. Across the Gold Coast, the preliminary clearance rate this week is 35.3 percent, compared to 40.7 percent last week. There were 46 auctions held across the region, down from 84 last week.
<a href="/images/2016/06/06/Screen%20Shot%202016-06-06%20at%2010.24.57%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/06/06/Screen%20Shot%202016-06-06%20at%2010.24.57%20AM.png" alt="">
 
The preliminary auction clearance rate for Adelaide was 67.2 percent this week, up from 52.6 percent last week, which was the second lowest clearance rate result seen across the city so far this year. 98 homes were taken to auction this week, compared to 125 last week. Over the corresponding week last year, 62 Adelaide auctions were held with 71.2 per cent clearing. Perth’s preliminary results show that 30 percent of the 10 reported auctions were successful this week.
<a href="/images/2016/06/06/Screen%20Shot%202016-06-06%20at%2010.26.23%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/06/06/Screen%20Shot%202016-06-06%20at%2010.26.23%20AM.png" alt="">
 
Perth’s clearance rate tends to move around a lot, however this week’s result is only slightly lower than last week (30.6 percent) and down compared to last year (45.9 percent). For the first time in five weeks, Canberra’s clearance rate edged over the 70 percent mark last week, recorded at 70.5 percent.
This week, however, the clearance rate for the city fell to 46.8 percent across 77 auctions. One year ago, Canberra’s final auction clearance rate for the week was 61.3 percent across 38 auctions. 8 auctions were held across Tasmania this week, with 4 reported so far and 3 sold. 
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Winter auction clearance rate nudges higher: CoreLogic

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Painting the walls of your home is a great way to freshen up your living space, and add value to your home at the same time.  
Hiring a professional painter means you’ll have an impeccable finish, save you loads of time and means you won’t have to deal with the mess. But it can be an expensive exercise, and may not fit in your budget. If you’re thinking about a DIY paint job, we’ve got some tips to get you painting like a pro.
1. It’s all about the prep
All of the painting pros know that the most important part of a great paint job happens before the paintbrushes come out. To start with, fill any holes in your walls with a filler, and smooth over with a filling knife. Then, use sandpaper to give your surfaces a good sanding, ridding your wall of imperfections and ensuring it is smooth. The next step is to remove dust and dirt from the wall by cleaning the surface with a damp cloth – sugar soap is great for this – and let it dry. The cleaning process is important, because you want your paint to grip to the wall, not dust particles, giving you a smoother finish.    
2. Watch the weather
Yep, believe it or not, mother nature can impact your paint job. If the air in the room where you’re painting is warm and dry, your paint will dry more quickly and consistently. If it’s cold in your room, use a heater to warm the air, and a fan to push the air throughout the room. Humidity is your enemy – it will delay the drying process – however using a fan in the room during and after your paint job will assist with keeping humidity levels low. If the paint is taking longer than four hours to dry, try using a dehumidifier. Make sure you check your paint tin for directions on paint performance and drying times.
3. Use a canvas drop cloth
As tempting as it is to get an old sheet from the linen cupboard, make the effort to borrow or buy a canvas drop cloth to cover your floors or carpet; bed sheets won’t stop paint spills from seeping through to your flooring. ‘What about plastic sheets?’ you might be saying to yourself… While doing a good job of protecting your floors, they prevent paint from drying quickly, and you’ll be bound to step in your spills and spread paint everywhere.  
4. Splurge for the blue tape 
It’s important to tape edges where you don’t want paint to cross, such as the tops of skirting board and door handles. Masking tape can do the job, but the blue painter’s tape will do the job better – with less chance of leaking as well as not leaving a sticky reside that can be annoying to clean off afterwards. To create a good seal and prevent bleeding, use a putty knife to press over the tape. It’s often not worth your while to tape windows – just paint somewhat carefully and use a razor blade to scrape paint spills off the glass when you’re finished. Paint should come off glass easily, and this process is often a lot easier and quicker than taping the window in the first place. 
5. Boxing, without gloves
If you’re painting a big surface, you will probably require more than one paint tin, and often the colour can slightly vary from one tin to another. Painters use a process called ‘boxing’ to prevent this – pouring all of paint from multiple tins into one big bucket to ensure a consistent colour from the first wall to the last. Make sure you give the bucket a good stir with a long stick that reaches the bottom, and you’re all set for an even colour.   
6. 1200 techniques 
Everyone has their own painting techniques that they swear by – chat to your family and friends about their own painting experiences or you can find loads of tips online. Some people prefer to use rollers, others spray; it may take a couple of times before you work out what suits you and your space best. However, good painting technique always begins from top to bottom – starting with the ceiling, cornices and moving on to walls, doors and window frames. Starting with the ceiling means that it won’t matter too much if paint runs down the walls – you can paint over this later – and it’s a good idea to use googles for eye protection (we all know what happened to Michelangelo).     
7. Don’t skip the clean up! 
If you’re not planning to paint ever again and hate the environment, you can ignore this section and just wrap all of your painting gear in the canvas drop cloths and throw them away in a colourful heap. But for everyone else – and hopefully that is everyone – make sure you take the time to clean your equipment properly so that it’s good for you and your family and friends to use next time. Use warm water and soap to wash your brushes (hot water can cause the bristles to fall out), wiping off excess paint and squeezing the bristles with a cloth. Be patient, it will take multiple ‘rinse and repeats’. Store your brushes in newspaper or cloth. With your rollers, use detergent and warm water to lather and rinse paint off. Once the roller is clean and dry, wrap in plastic wrap and store vertically so the roller does not flatten. To rid brushes and rollers of oil-based paint, soak in paint thinner (in a well ventilated room) overnight before the usual rinsing process. 
Ready to get painting? Perhaps the best tip of all is to drag all of your friends to your house to help. Reward them with food and beverages and it can be a really fun way to spend a weekend. 
 For more information, click <a href="https://www.homestart.com.au" target="_blank">here</a>.
 
 
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Property 101: Seven tips to paint like a pro

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Mirvac and JV partner Ping An Real Estate have received development approval for the mixed-use St Leonards Square and will now begin with sales of the second stage tower.
The first tower was released to select Mirvac customers in March with more than 90 percent of the 220 apartments sold on the day. 
Marketing of Stage 2 will now begin. 
St Leonards Square, designed by Sissons Architects in collaboration with Mirvac Design, consists of two towers and a gymnasium, swimming pool, spa, sauna as well as an outdoor landscaped area with barbecue facilities, dining, kitchen, meeting rooms, a cinema room and music room.
Mirvac’s development director, Adrian Checchin, said the development will form the new heart of a revitalised St Leonards with an enhanced public domain and proposed retail and dining.
St Leonard Square provides quick access to the existing St Leonards train station and will be only a short distance from the planned new Sydney Metro Crows Nest stop and future transport interchange.
“Importantly the area is primed for future growth as a residential, retail and commercial hub with an improved lifestyle offering.
"There are many significant employers in the area, not least the Royal North Shore Hospital which is undergoing a major upgrade and expansion of its medical precinct."
 For more information click <a href="https://www.stleonardssq.com.au" target="_blank">here</a>.
 
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Mirvac gains DA for St Leonards towers, launches stage 2

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Mortgages nationally are up 1.2 percent from last month according to CoreLogic RP Data.
In Queensland they are down 1.7 percent from last month and up 1.7 percent in NSW
<a href="/images/2016/05/30/Screen%20Shot%202016-05-30%20at%205.35.28%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/30/Screen%20Shot%202016-05-30%20at%205.35.28%20PM.png" alt="">
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Mortgage activity nationally up 1.2 percent from last month: CoreLogic RP Data

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The median time on market for a home in Sydney and Melbourne is 31 days, with units 30 in Sydney and 34 in Melbourne.
The average vendor discount for a Sydney home is 5.2 percent and Melbourne 4.6 percent. For units the figure is 4.6 percent for both Sydney and Melbourne.
<a href="/images/2016/05/30/Screen%20Shot%202016-05-30%20at%205.24.05%20PM.png" target="_blank">Click to enlarge</a>
 <img src="/images/2016/05/30/Screen%20Shot%202016-05-30%20at%205.24.05%20PM.png" alt="">
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In quick lock step: median time on market for a home in Sydney and Melbourne is 31 days: CoreLogic RP Data

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The median private treaty price for a home in Sydney is around $855,000 according to CoreLogic RP Data and units at $675,000.
The price is based on 2,899 home sales and 1,616 units.
The median price in Melbourne for homes is $612,000 from 3,604 sales and $492,250 for units from1,568 sales.
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<img src="/images/2016/05/30/Screen%20Shot%202016-05-30%20at%205.13.24%20PM.png" alt="">
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Median private treaty price for Sydney home is $855,000:  CoreLogic RP Data

<a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> has lodged plans for a $750 million, three-tower mixed-use precinct that would complete the long-running redevelopment of Carlton's former Carlton United Breweries site.

The proposal at <a href="https://www.apartments.com.au/new-apartments/185-195-queensberry-street-carlton-vic-3053">46-78 Bouverie Street and 185-195 Queensberry Street</a> spans a 6,468 sqm site, the last remaining undeveloped parcels within the former brewery's 2007 masterplan.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the development will comprise two purpose-built student accommodation towers and a third build-to-sell apartment tower above a shared commercial podium and basement.

Across the three towers, SP Setia is proposing 606 build-to-sell apartments and 1,499 student accommodation units containing 2,009 beds.

The apartments will sit in the tallest tower, which will rise nearly 200m and 55 storeys. It will become&nbsp;one of the more substantial new build-to-sell apartment projects at the northern edge of Melbourne's CBD.

The apartment mix is weighted toward smaller inner-city product, with 188 studios, 206 one-bedroom apartments, 192 two-bedroom apartments and 20 three-bedroom apartments

<img alt="First look: SP Setia plans three-tower finale for Carlton’s former CUB precinct" data-entity-type="file" data-entity-uuid="8271bc87-1b0a-41b7-ac73-a425ee375261" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/3_2.png?VersionId=G4lw23o90B1boX4k4dj7rdz2ZEajS9wy" />

Part of the precinct will be a large-scale&nbsp;3,684 sqm supermarket and a further 2,198 sqm of speciality retail, creating close to 5,900 sqm of new commercial space within the precinct.

But one of the biggest components of the proposal is what sits between the buildings.

Around 4,650 sqm, or roughly 72 per cent of the site, will be publicly accessible open space, incorporating plazas, pedestrian connections, landscaped laneways and retail spill-out areas.

The ground plane is intended to finally complete pedestrian connections envisaged when the CUB masterplan was first approved nearly two decades ago, stitching together Victoria Street, Queensberry Street, Bouverie Street and Swanston Street through the former brewery precinct.

Urbis said the development would "complete the CUB precinct", with the public realm providing important north-south and east-west connections through what is currently the final undeveloped portion of the masterplanned site.

SP Setia is also exploring a new linear park within the Bouverie Street road reserve, with the concept to be developed further with the City of Melbourne through the planning process.

The proposal is being pursued through the Victorian Government's Development Facilitation Program under Clause 53.23 for significant residential development with affordable housing.

The planning report acknowledges the proposed heights exceed those contemplated under the original Comprehensive Development Plan and masterplan, but argues the built-form context has changed considerably over the past two decades.

Urbis said the three towers would instead create a stepped transition between Carlton and the Hoddle Grid, rising progressively from the 94.1-metre Tower One along the Queensberry Street edge to the 199.44-metre Tower Three closer to the established CBD-scale buildings to the south.

<img alt="SP Setia" data-entity-type="file" data-entity-uuid="e885a07a-592c-40fc-bf82-e6dbaf32da54" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.52.24%E2%80%AFAM.png?VersionId=7s_ErUkSKAdY1mAWp3GRZgMNCGtwhk5m" />

SP Setia plans to deliver the development across three stages.

Stage One would deliver the basement, podium and retail areas for the entire precinct alongside the first student tower. Tower Two would follow in Stage Two, before the 606-apartment Tower Three is delivered as the final stage.

If approved and delivered, the project would close out a redevelopment process that has been underway since the former brewery masterplan was approved in 2007, adding more than 2,600 student beds and apartments to a precinct already home to Swanston Central, the Barak Building, RMIT Design Hub and several large student accommodation developments.

&nbsp;

&nbsp;

Joel Robinson

SP Setia plans three-tower finale for Carlton’s former CUB precinct

Melbourne developer Lowe Living is seeking to add to its growing bayside apartment pipeline, filing plans for a boutique eight-residence development in tightly held Middle Park.

Lowe Living, which has built much of its development portfolio across Melbourne's affluent bayside and south-east suburbs, is behind the plans for the 730 sqm site at <a href="https://www.apartments.com.au/new-apartments/123-125-erskine-street-middle-park-vic-3206">123-125 Erskine Street</a>, just off Armstrong Street and within the Armstrong Street Neighbourhood Activity Centre.

The developer is seeking approval for a five-storey residential building above two basement levels, with just eight large-format apartments and 18 car spaces.

“This is a deliberately very different proposition for us,"&nbsp;Tim Lowe, Co-Founder of Lowe Living, said.

"Eight residences is exceptionally boutique, but that's precisely what this site calls for.

“There is a strong community in Middle Park and the surrounding suburbs who have spent decades building a life here. They no longer want the maintenance of a large period home, but they aren't prepared to compromise on space, quality or location. We think there is a real opportunity to capture that hyper local market. A site like this rarely comes to market.”

<img alt="Lowe " data-entity-type="file" data-entity-uuid="875fe572-0f14-4d90-9e11-55b28dd07731" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.42.49%E2%80%AFAM.png?VersionId=GDNQRv9BfpR9r1zkZ5UDyUM4ZvpIksut" />

The low-density proposal has been designed by Cera Stribley and is being progressed through the Victorian Government's Great Design Fast Track pathway, having already secured eligibility from the Minister for Planning.

The Office of the Victorian Government Architect supported its eligibility after finding the proposal demonstrated consistency with the program's seven design principles, while the project's financial feasibility has also been independently confirmed by Invest Victoria.

The project is targeting the downsizer market, with the planning documents describing the homes as larger-format residences and noting the two penthouses could otherwise have been configured as four separate apartments.

<img alt="Lowe 2" data-entity-type="file" data-entity-uuid="60ab0987-2da6-4175-adac-315dcf6053c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.15%E2%80%AFAM.png?VersionId=bOCPH0B2MFwlmaRW.TTCF9TzyifgVoQI" />

The site has dual frontage to Erskine Street and Canterbury Place and currently comprises a collection of commercial buildings used as offices, including a former heritage bakehouse, a former stable, a later gabled addition and a central courtyard.

It sits within the Commercial 1 Zone and the Armstrong Street Commercial Precinct heritage overlay, with the existing property classified as a contributory heritage place.

Heritage has subsequently played a significant role in Cera Stribley's design.

The front section of the former bakehouse facing Erskine Street will be retained, including its return walls, street-facing hipped roof and chimneys, while the Erskine Street façade and part of the western return wall of the former stable will also be incorporated into the new development.

Levels four and five will be set back five metres from the retained stable façade, while bricks removed through demolition are proposed to be salvaged and reused within the new building where possible.

<img alt="Lowe 3" data-entity-type="file" data-entity-uuid="e97927a9-a2de-4a0f-83b6-65451238abfa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.06%E2%80%AFAM.png?VersionId=VR44AChLrX9q1XPB9GvVQV.ALXXbe4gC" />

Rather than presenting as a single five-storey building to Erskine Street, Cera Stribley has broken the development into a series of distinct forms.

A three-storey infill element will sit between the retained bakehouse and stable façades, with the upper levels recessed behind the heritage fabric. Canterbury Place will similarly feature two three-storey podium forms, separated by a central pedestrian accessway, before the upper two levels step back from the street.

A pedestrian through-link will run through the centre of the project between Erskine Street and Canterbury Place, creating entrances from both sides of the site and introducing landscaping and communal areas through the ground plane.

Landscape architect Acre has designed planting across the ground level, private terraces and upper levels, including a feature canopy tree at level three and integrated planting and arbours across the level four terraces. Five existing Erskine Street trees are proposed to be retained.

Sustainability is also a significant component of the Great Design Fast Track application. The apartments are targeting an average eight-star NatHERS rating, with no residence below 6.5 stars, while the project has achieved a 75 per cent BESS score. Seven of the eight apartments are designed for cross-ventilation, with the remaining residence using mechanically assisted natural ventilation.

The plans also incorporate an 8kWp rooftop solar system, a 5,000-litre rainwater tank and infrastructure allowing future electric vehicle charging for every residence.

Lowe has a strong portfolio across Melbourne's blue-chip suburbs. They recently launched <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House by Lowe Living</a> in Camberwell, their first development in the Stonnington LGA.

Lowe Living unveils Middle Park apartment development

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.

The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;

“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."

Brown says the site itself is "exceptional."

"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" />

Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.

“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.

“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.

“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" />

Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

<a data-end="327" data-is-only-node="" data-start="250" href="https://www.apartments.com.au/developers/norus-projects" rel="noopener" target="_new">Norus Developments</a> has lodged plans for a new apartment development in Clayton that would add further momentum to the suburb's emerging Green Street corridor.

Plans have been lodged for the consolidated site at <a href="https://www.apartments.com.au/new-apartments/1359-1365-centre-road-clayton-vic-3168">1359-1365 Centre Road</a>, where Norus is seeking approval for 218 apartments across a 12-storey apartment building designed by <a href="https://www.apartments.com.au/architects/life-architecture-and-urban-design">Life Architecture</a>.

The proposal sits within the Clayton Major Activity Centre at the threshold of the planned Green Street corridor, a landscaped pedestrian connection intended to improve links through the precinct towards Clayton Railway Station.

The development would replace the site's existing collection of low-scale residential and commercial buildings with a single consolidated building, introducing significantly greater housing density to this part of Centre Road.

A retail tenancy is proposed at ground level to activate the Centre Road frontage, accompanied by transparent street interfaces and landscaping intended to create a more pedestrian-focused edge to the development.

<img alt="First look: Norus Developments plans landscape-led apartment project for Clayton’s emerging Green Street" data-entity-type="file" data-entity-uuid="0a5a763a-d9e9-4253-af2f-88008de27ebf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Clayton%20a.png?VersionId=S2WJJbat1XVkZwB9SnYtygirXgWHiklX" />

The building has been designed with stepped massing and upper-level setbacks to manage its transition towards surrounding residential properties. The planning report describes the approach as one that integrates the building into the landscape rather than treating landscaping as a secondary element.

"A strong landscape and public realm strategy underpins the proposal," Urbis states in the planning report.

"Public benefits include an affordable housing contribution, a new pocket park, generous landscaped setbacks, deep soil planting and integrated Water Sensitive Urban Design."

The report adds that these elements are intended to create "a permeable, pedestrian-focused ground plane that enhances walkability, supports urban cooling and reinforces the emerging Green Street character."

Biophilic and passive design principles extend through the residential levels, with planting, daylight, natural ventilation and views towards landscaped areas forming part of the amenity strategy.

Parking would be concentrated away from the public realm, with 145 car spaces proposed from the rear laneway rather than dominating the Centre Road frontage.

The proposal follows an extensive pre-application process with the City of Monash. Three formal meetings were held between the project team and Council from December 2025 to March 2026, with the scheme evolving through several concept iterations before the current design was lodged.

The project arrives as Clayton prepares for substantial change around its established activity centre and the wider Suburban Rail Loop precinct. Its position on Centre Road places the development within an existing concentration of shops, services and public transport, while the Green Street connection is intended to strengthen pedestrian access towards Clayton Railway Station.

First look: Norus plans landscape-led apartment project for Clayton’s emerging Green Street

<a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a> has officially commenced construction on Bronze on Chevron, celebrating the sod turning of its first-ever Gold Coast development and marking a significant milestone in the company's continued expansion across South East Queensland.&nbsp;

Following the successful delivery of premium residential developments throughout Brisbane and the Sunshine Coast, <a href="https://www.apartments.com.au/new-apartments/bronze-on-chevron-8-mawarra-street-chevron-island-qld-4217">Bronze on Chevron</a> represents Gardner Vaughan Group's entry into the Gold Coast market. Bronze will deliver 119 one, two, three and four-bedroom apartments above two ground-level retail tenancies.

[smartcode_project:default project_id=107520 project_image_fid=367193]

The recent sod turning ceremony was attended by Deputy Mayor Mark Hammel, President of the Surfers Paradise Surf Life Saving Club, Cassandra Sedgman, project consultants, purchasers, project partners and invited guests to celebrate the commencement of construction.&nbsp;

Gardner Vaughan Group Chief Executive Officer Simon Betteridge said Bronze on Chevron represented an exciting new chapter for the business.&nbsp;

"We've spent almost four decades building homes that respond to the way people want to live, and we're excited to bring that experience to <a href="https://www.apartments.com.au/developments/chevron-island-qld-4217">Chevron Island</a>," Betteridge said.

"Bronze on Chevron is particularly significant because it marks Gardner Vaughan Group's first development on the Gold Coast following many successful projects across Brisbane and the Sunshine Coast."

[smartcode_project:default project_id=107520 project_image_fid=367183]

Betteridge said the ground breaking is a proud moment for the&nbsp;team and their purchasers, who can now see their future homes beginning to take shape.&nbsp;

"As both developer and builder, we're able to oversee every aspect of the project from design through to construction, ensuring the quality and attention to detail Gardner Vaughan Group has become renowned for."&nbsp;

Designed by acclaimed architectural practice <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, Bronze on Chevron has been thoughtfully designed to complement Chevron Island's evolving streetscape while embracing its relaxed coastal lifestyle.

The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029.&nbsp;

[smartcode_project_cta:default project_id=107520]

The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029

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