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While most people are not buying homes in the city’s million dollar suburbs, if you were, which would be the easiest to purchase in?
Based on the latest housing market information from RP Data, Melbourne has 46 suburbs with a median house value in excess of one million dollars. <a target="_blank" href="/news">Toorak</a> had the highest value at $2,756,000 and <a target="_blank" href="/news">Ormond</a> the lowest at $1,005,000.
{yoogallery src=[images/stories/2013/09/23/too]}
Photos: 16 St Georges Road, one of Melbourne’s most significant homes,  which Property Observer gleans <a target="_blank" href="https://www.propertyobserver.com.au/news/offshore-buyer-secures-16-st-georges-road-toorak-from-peter-devitt-in-circa-%2420-million-sale/2013092165175">sold for around $21 million</a> back in September 2013.


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Values may range between Toorak and Ormond, however, if you are a buyer it will be numerically easier to purchase in a suburb with a larger number of houses on the market.
For instance the $5 million suburbs with the highest number of houses on the market were: <a target="_blank" href="/news">Portsea</a>, <a target="_blank" href="/news">Brighton</a>, <a target="_blank" href="/news">Toorak</a>, Balwyn and <a target="_blank" href="/news">Canterbury</a>. In these cases between 7.2% and 6.1% of houses were on the market over the 12 months ending in November.
That is well above the citywide number of 5.2%.
{yoogallery src=[images/stories/2014/02/10/can]}
Photos: Earlier this week Property Observer reported on the <a target="_blank" href="https://www.propertyobserver.com.au/victoria/canny-contemporary-canterbury-offering-by-five-time-veterans/2014020967646">four year old award winning Canterbury contemporary residence</a> of Lynette and Alan Knights, which has been listed for sale. The Melbourne vendors are seeking $3 million plus.


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At the other end of the spectrum were some very tightly held but geographically diverse suburbs: <a target="_blank" href="/news">Kangaroo Ground</a>, <a target="_blank" href="/news">Caulfield</a>, <a target="_blank" href="/news">Ivanhoe</a>, <a target="_blank" href="/news">Parkville</a> and <a target="_blank" href="/news">Kew East</a>. With between 2.3% and 3.1% of houses on the market buyers had a much harder task buying.
{yoogallery src=[images/stories/2014/02/14/kang]}
Photos: This seven bedroom house at <a target="_blank" href="https://www.realestate.com.au/property-house-vic-kangaroo+ground-114810647">155 Kangaroo Ground Street and Andrews Road, Kangaroo Ground</a> is currently listed for sale with an estimated sales range of $1.7 million to $1.9 million through Tristan Messerle and Graham Morrison of Morrison Kleeman Estate Agents.


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Interestingly, there is little correlation between how tightly these suburbs are held and other property data such as changes in sale prices, value or even geography.  This is an interesting fact for buyers and shows that sometimes if you are fixed on a certain suburb for your home it may take a lot longer than elsewhere.
Robert Larocca is Victorian housing market specialist for <a rel="nofollow" href="https://rpdata.com/" target="_blank">RP Data</a>.
 
 
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Melbourne's most tightly held million dollar suburbs: RP Data

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There was a remarkable shift in 2013 towards the use of auctions. Based on all sales until the end of November approximately 30.6% of sales were by auction compared to 21% in 2012.
This is an interesting fact for vendors to consider as they face the choice of by what method of sale to sell their home. This is a choice best made in consultation with the real estate agent contracted to sell the home and there is some broader data that helps explain the market trends that can influence the decision.
As anyone who has attended an auction will tell you they deliver the best outcome when there is competition between buyers. For that reason auctions work best when there is a unique quality of the property that can drive competition or there is a rising market.
This can been seen in two sets of data.
Firstly is the overall clearance rate. The clearance rate tends to rise when prices do. For instance in 2013 the house price index for Melbourne rose by 8.5% and the clearance rate was 69%. In 2012 the index fell by 2.9%% with a clearance rate of 55.8%.
The second set of data is the proportion of sales by auction. Over the years auctions are used to sell between 20 and 30% of homes in Melbourne with the balance sold by private sale. The use of auctions is far more prevalent the closer the suburb is to the CBD.
It is important to note that even if you don’t sell at auction the chances are that due to the investment in the marketing you have made should will find a buyer soon after.
RP Data tracks the outcome of homes passed in at auction and has found that over the months of September and October last year an additional 11 to 19% sold. For example, for homes auctioned in the week ending October 13 the clearance rate was 70.2%. Once the sale outcomes over the next 30 days were taken into account for those passed in it rose 11.9 points to 82.1%.
Robert Larocca is Victorian housing market specialist for <a rel="nofollow" href="https://rpdata.com/" target="_blank">RP Data</a>.
 
 
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Significant shift in the use of auctions in 2013

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The RP Data – Rismark Home Value Index for Melbourne houses reached a new nominal peak in January after a surprisingly strong 3.7% rise. The latest figures surpass the previous peak in October 2010.
The unit index recorded a more moderate 0.2% rise and reached an earlier peak in December 2013.
Not only was a new peak reached but Melbourne recorded the strongest growth of all capital cities. 
First home buyers are at all time lows; this market is being driven by upgraders and investors in the detached houses market and supported by low interest rates.
With very few auctions in January the rise is also a factor of houses sold through private sale, many of which will have been passed in at auction in December.
This current growth phase is being strongly supported by record low interest rates. Ongoing growth may however be moderated by lower consumer confidence in Melbourne.
It should be noted that the index can show natural volatility on a monthly basis as shown by the rises in September, December and now January against a background of reductions in October and November. However the trend is clear, with rises over the quarter and year.
Robert Larocca is Victorian housing market specialist for <a rel="nofollow" href="https://rpdata.com/" target="_blank">RP Data</a>.
 
 
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Melbourne house values at new peak and leading the nation for growth

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In a recent post I looked at the relative performance of Melbourne investment property from <a href="https://www.propertyobserver.com.au/victoria/melbourne-rental-increases-only-moderate-compared-to-sydney-and-yields-have-stabilised/2014012967390?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=ourobservers:adviceandanalysisforreaders" target="_blank">a rental yields perspective</a>.
Examining yields on a suburb basis provides an interesting metric for investors to consider; the best yields are actually found in the most affordable suburbs.
Of the 10 suburbs with the highest rental yield none have a median house value of more than $350,000.
<a href="/news">Dallas</a> and <a href="/news">Melton South</a> share an indicative yield of 5.7%, well above the city wide yield of 3.4%.
The other suburbs in the top 10 are <a href="/news">Meadow Heights</a>, Coolaroo, <a href="/news">Frankston North</a>, <a href="/news">Carrum Downs</a>, <a href="/news">Melton</a>, <a href="/news">Warburton</a>, <a href="/news">Hampton Park</a> and <a href="/news">Cranbourne West</a>.
At the other end of the spectrum the ten suburbs with the lowest yields, from 1.8 to 2.5% all have median house values in excess of a million dollars, <a href="/news">Portsea</a>, <a href="/news">Toorak</a>, Balwyn, <a href="/news">Kew</a>, <a href="/news">Eaglemont</a>, <a href="/news">Elsternwick</a>, <a href="/news">Canterbury</a>, <a href="/news">Balwyn North</a>, <a href="/news">Kew East</a> and <a href="/news">Caulfield North</a>.
It is interesting to note that while the same rule applies in the unit and apartment market there are a few notable exceptions, such as central <a href="/news">Melbourne</a>, which will be examined in a future post.
Robert Larocca is Victorian housing market specialist for <a target="_blank" href="https://rpdata.com/" rel="nofollow">RP Data</a>.
 
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Yield or capital gain: Investors face a stark decision

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Melbourne renters have seen only moderate rises in rents over the past year, especially when compared to Sydney. At the same time investors have seen static yields but potentially benefited from improved capital growth.
Over the past year the median weekly rent for a house in Melbourne has risen by $10 and by $8 for units. Currently the median rent for a house is $437 per week and $389 for a unit.
This compares to a rise of $23 per week in Sydney to $582 for a house and an $18 rise for units to $509.
It is certainly less expensive to rent in Melbourne than in Sydney and renters have been faced with more moderate increases.
In part, the lower weekly rent explains why rental yields are lower in Melbourne than in Sydney. The yield for a house in Melbourne was 3.4% in December last year and 4.2% for units. In Sydney, the comparable figure was 3.9 and 4.7% respectively.
Over the past two years, yields have not changed substantially for houses in Melbourne with a change from 3.5% 3.4% recorded. Property owners over that time have benefited from capital growth.
Units, which have a higher yield, have recorded a similar change, from 4.3 to 4.2%.
It is interesting to note that over the longer term, yields for both houses and units in Melbourne have stabilised at a lower level. From 2003 to 2005 investors benefited from yields of around 4.4% for houses and 4.9% for units.
Robert Larocca is Victorian housing market specialist for <a rel="nofollow" href="https://rpdata.com/" target="_blank">RP Data</a>.
 
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Melbourne rental increases only moderate compared to Sydney and yields have stabilised

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In the December quarter last year the median value of a house in Melbourne rose by 2.6% to $542,053. Over the last year the increase was 10.7% from $489,696.
A similar increase was recorded for units. The median value of a unit rose by 2.3% to $442,043. Over the last year the increase was 9.8% from $402,440.
This confirms that 2013 was a good year for real estate in Melbourne. Values rose as demand increased and more people bought and sold residential real estate.
The market remains below its previous nominal peak underscoring that we are in a recovery phase.
In the houses market the strongest growth in values over the year was recorded in <a target="_blank" href="/news">Kew East</a>, <a target="_blank" href="/news">Balwyn North</a>, <a target="_blank" href="/news">Caulfield</a>, <a target="_blank" href="/news">Maribyrnong</a> and Balwyn. Value growth was also recorded in the more affordable sub $500,000 segment with the highest growth occurring in <a target="_blank" href="/news">Watsonia</a> where values rose by 12.3% and above the city- wide rise.
<a rel="wp-prettyPhoto[g2835]" href="https://blog.rpdata.com/wp-content/uploads/2014/01/vic-blog-melbourne-housing-values-table1.png"><img height="301" width="470" src="https://blog.rpdata.com/wp-content/uploads/2014/01/vic-blog-melbourne-housing-values-table1-580x371.png" alt="Change in values between September 13 Q and December 13 Q - Houses"></a>
The strongest growth over the quarter was concentrated in the more affordable suburbs of <a target="_blank" href="/news">Hastings</a>, <a target="_blank" href="/news">Knoxfield</a>, <a target="_blank" href="/news">Mitcham</a>, <a target="_blank" href="/news">Keilor East</a> along with <a target="_blank" href="/news">Camberwell</a>. This suggests that the substantial rise in auction volumes (the more prevalent sales method in the inner city) acted to moderate price growth.
<a rel="wp-prettyPhoto[g2835]" href="https://blog.rpdata.com/wp-content/uploads/2014/01/vic-blog-melbourne-housing-values-table2.png"><img height="256" width="470" src="https://blog.rpdata.com/wp-content/uploads/2014/01/vic-blog-melbourne-housing-values-table2-580x316.png" alt="Change in values between September 13 Q and December 13 Q - Houses"></a>
In the unit market the highest growth over the year was recorded in <a target="_blank" href="/news">Malvern East</a>, Balwyn, <a target="_blank" href="/news">Northcote</a>, <a target="_blank" href="/news">Bentleigh East</a> and <a target="_blank" href="/news">Balwyn North</a>.
<a rel="wp-prettyPhoto[g2835]" href="https://blog.rpdata.com/wp-content/uploads/2014/01/vic-blog-melbourne-housing-values-table3.png"><img height="257" width="470" src="https://blog.rpdata.com/wp-content/uploads/2014/01/vic-blog-melbourne-housing-values-table3-580x317.png" alt="Change in values between December 12 Q and December 13 Q - Units"></a>
Taking a broader view of the Melbourne market the data shows that inner eastern suburbs of Balwyn and <a target="_blank" href="/news">Balwyn North</a> recorded the strongest demand across all property types.
Looking forward to 2014, it is clear that the market is primed to move from a recovery to growth phase whilst economic conditions, consumer confidence and monetary policy remain favourable.
Robert Larocca is Victorian housing market specialist for <a rel="nofollow" href="https://rpdata.com/" target="_blank">RP Data</a>.
 
 
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The best performing suburbs of 2013

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The latest version of RP Data’s Pain and Gain report showed that as we get closer to a new peak in dwelling values the proportion of sellers making a profit on sale is increasing.
Interestingly some of the best outcomes have been recorded in suburbs around 20 kilometres away from the Melbourne CBD.
The report is useful for property investors, small or large, because it looks only at homes that already have an owner and whose sale price is therefore set by the market. Other market data, median prices for instance, mingles the new sales with prices set by the developers and those sold by individuals.
The report showed that only 7.7% of Melbourne homes re-sold in the September quarter of 2013 incurred a loss for their owners. This was lower than the 8.2% recorded in the June quarter this year and 8.3% in the 2011 June quarter.
Of course the longer the home was owned the more likely the owner was to see a profit on sale. The highest proportion of owners selling for more than double what they paid had owned their homes for between 10 and 15 years.
In overall terms the highest overall profit was recorded in more expensive areas with sellers in Boroondara recording $231 million in profit in three months. Whitehorse ranked second with $159 million in profit and Monash third with $136 million.
Despite the very high profits recorded in those inner and middle eastern municipalities it was sellers in Knox that probably had the best outcome with only 2% recording a loss. Those losses totalled only $360,000, less than the value of one house. Second on the list was Manningham where 3.9% of sellers recorded a loss and third was Maroondah with 4.3%.
Robert Larocca is Victorian housing market specialist for <a rel="nofollow" href="https://rpdata.com/" target="_blank">RP Data</a>.
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Proportion of sellers making a profit is increasing

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One of the most perplexing market trends right now is the substantial drop in first home buyers in Victoria. According to ABS Housing Finance data, only 12.2 per cent of loans were given to first home buyers in November 2013. This compares to a 20 year average of 21.4 per cent and follows October which recorded the lowest proportion of first home buyers in 20 years.
From a raw numbers perspective, the last time there were fewer than 1,691 of first home buyers recorded in November was in 1991.
It is now 16 consecutive months that the proportion has been lower than the long-term average.  The proportion rose in November but only because the number of non-first home buyers fell to a greater extent.
The reason this a perplexing issue is because Melbourne dwelling prices are still not at a nominal peak and interest rates are at historical lows. When prices last peaked in October 2010 around 18 per cent of loans were given to first home buyers. At the peak of cycle before that, in 2007, it was around 21 per cent. Prices alone cannot be the reason.
One factor may be the cessation of the Victorian Government’s $7,000 First Home Buyers Grant as the proportion dropped 4 points from July to August and has not risen since. It would however be surprising if this alone was the reason as financial assistance is still available for new homes and stamp duty cuts of 40 per cent can still be accessed.
The data also supports the argument that first home buyers are being crowed out by investors. Even if this is the case, it is not a healthy outcome for the market as investors are critical to the supply of rental homes.
It will be very interesting to watch what impact the increasing stamp duty cuts have over the next ten months as the current 40 per cent discount rises to 50 per cent, hopefully it will encourage more Victorian first home buyers back into the market.
 
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 Robert Larocca is Victorian housing market specialist for <a target="_blank" href="https://rpdata.com/" rel="nofollow">RP Data</a>. 
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Where have the Victorian first home buyers gone?

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RP Data has revealed that home owners who sold a home in Flinders over the past financial year have  achieved the best capital gains in Melbourne by gross profit. Closer to the CBD vendors in Armadale have also recorded very high capital gains.
RP Data’s Victoria Housing Market Specialist Robert Larocca said that with 91.9 per cent of sales returning sellers a profit, it was clear that housing was a good investment over the medium to long term and timing is critical when buying and selling real estate.  
<img src="/images/stories/2013/10/18/larocca-oct-18-one.gif" alt="larocca-oct-18-one" height="158" width="470">
"The RP Data quarterly results showed that across the Melbourne metro area, over one third of sellers doubled their original purchase price.  
The Yarra Council region had the smallest proportion of loss making re-sales where just 3.9% of all re-sales recorded a gross loss over the June quarter.  
"The largest proportion of loss making re-sales was located in the Melbourne Council region at 17.3% of all re-sales over the June quarter.  
This unique research by RP Data is derived by comparing the outcomes of resale properties in the past year.  
"Based on profits made from resales of houses, the top five suburbs in Melbourne were Flinders, Armadale, Caulfield, Oakleigh East and Parkville.  
"The suburbs in the top 50 represent a variety of differently priced markets showing that profits are not confined to the most expensive areas.  
"The RP Data top 50 list shows that the suburbs around the hills to the north east and eastern fringe of Melbourne have been good investments with Belgrave Heights, Belgrave South, Montrose, Warrandyte, Mount Dandenong, Olinda, Kallista and Warburton.  
"Over the long term there has clearly been a trend for tree-change close to the city.  
"The other notable trend is inner north with Parkville, Princess Hill and Fitzroy North. These suburbs have been priced at a point where they are very attractive to buyers compared to the inner east and also feature period-style homes.  
"Outside of Melbourne, the strength of the Geelong market was apparent with many suburbs in the region providing all sellers with a profit," Mr Larocca concluded.
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 Robert Larocca is Victorian housing market specialist for <a rel="nofollow" href="https://rpdata.com/" target="_blank">RP Data</a>.
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The most profitable suburbs for home owners in Melbourne: Robert Larocca

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As we near the year’s end there are a range of key numbers that can help explain the property market this year. This year’s results show that the residential real estate market was certainly healthier than last year, however it still remains below its peak despite being supported by record low interest rates. The high volumes of auctions were, along with moderate rises in value, a highlight but it is concerning that overall transaction volumes are still to recover substantially from 2011 and 2012.
Consumers are still acting conservatively and that prevented a new peak in house values being reached this year.
Sales volume
In the 12 months ending September 13 there were 6 per cent more dwelling sales than the previous 12 months. At the end of 2012 there were72,432 dwelling sales in Melbourne and the comparable number in 2013 is projected to be between 76,000 and 80,000.
Clearance rates
Melbourne fell short of a 70 per cent clearance rate following a softer market and higher supply in the last few months. It has ended the year with a clearance rate of 69.1 per cent which is 13 points higher than last year and second only to 79.4 per cent recorded in 2009.
Listings
The overall number of active listings is 35,524 in Melbourne, which is only 1.3 per cent lower than a year ago, indicates that the increase in new listings has been absorbed but has failed to clear the overall backlog.
Highest sales
In the 12 months ending September, the highest volume of house sales were in all in growth areas, Pakenham, Berwick, Point Cook, Frankston and Craigieburn.  In the unit market there were twice as many sales in Melbourne as the second on the list, Southbank.
Vendor Discounting
The amount that vendors of private sales need to discount from their advertised price was lower this year than a year ago at 6 per cent in October versus 7.2 per cent a year ago. For units the discounting also reduced,  from 6.6 per cent to 5.8 per cent.
Time on Market
Vendors of houses sold at private sale achieved quicker sales at 40 days in October compared to 49 days a year ago. For units it is 38.5 days compared to 43 days a year ago.
Values
House values in Melbourne still remain below their previous nominal peak despite a 6 per cent rise in house values this year. The house price index in November showed values were 3.2 per cent below the peak of October 2010.
 
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 Robert Larocca is Victorian housing market specialist for <a rel="nofollow" href="https://rpdata.com/" target="_blank">RP Data</a>.
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The numbers that mattered in 2013: 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

Robert Larocca

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