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A preliminary weighted average clearance rate of 69.7% was recorded this week across capital cities compared to 67.9% last week and 69.3% this time last year.
<img class="aligncenter size-large wp-image-3562" src="https://blog.rpdata.com/wp-content/uploads/2014/08/20140804-Capital-city-580x429.jpg" alt="RP Data auction comment - capital cities" width="580" height="429">
Both Sydney and Melbourne, which account for the majority of the auction market in Australia, had strong results with clearance rates above trend.
This week a preliminary clearance rate of 77.6% was recorded in Sydney compared to 75.4% last week. Prior to this weekend the year to date clearance rate was a healthy 74.4%.
<img class="aligncenter size-large wp-image-3563" src="https://blog.rpdata.com/wp-content/uploads/2014/08/20140804-Sydney-580x384.jpg" alt="RP Data auction comment - Sydney" width="580" height="384">
In Melbourne a result above trend for the year was reached with a preliminary clearance rate of 70.9% recorded compared to 68.5% last week. Not including this weekends results the clearance rate for the first eight months of the year was 67.3%.
<img class="aligncenter size-large wp-image-3565" src="https://blog.rpdata.com/wp-content/uploads/2014/08/20140804-Melbourne-580x380.jpg" alt="RP Data auction comment - Melbourne" width="580" height="380">
In Brisbane a preliminary clearance rate of 32.3% was recorded compared to 44.7% last week. 
Adelaide recorded a clearance rate of 60.3% compared to 60.3% last week.
In Canberra a clearance rate of 59.1% was recorded and in Perth there was a clearance rate of 46.2%.
<img class="aligncenter size-large wp-image-3566" src="https://blog.rpdata.com/wp-content/uploads/2014/08/20140804-Brisbane-580x380.jpg" alt="RP Data auction comment - Brisbane" width="580" height="380"> <img class="aligncenter size-large wp-image-3567" src="https://blog.rpdata.com/wp-content/uploads/2014/08/20140804-Adelaide-580x384.jpg" alt="RP Data auction comment - Adelaide" width="580" height="384">
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National clearance rate lifts: RP Data's national auction wrap

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The Calder Freeway, which makes its way through central Victoria’s has contributed to a increase in capital growth and compared to other regional centres towns along this transit corridor are showing the strong appreciation.
For those unfamiliar with Victoria the Calder Freeway is the main road between Melbourne and Bendigo and links <a href="/news">Macedon</a>, <a href="/news">Kyneton</a>, <a href="/news">Gisborne</a>, <a href="/news">Woodend </a>and <a href="/news">Castlemaine</a>. There is also a matching rail service and both have been upgraded over the past decade.
House values in these areas have outpaced Melbourne, Ballarat and Geelong over the past five years.
The best growth was recorded in the Macedon Ranges Shire which includes Macedon, Kyneton, Gisborne and Woodend. Over the past five years house values have grown by 46.2%.
Following Macedon Ranges Shire was Mount Alexander Shire which is centred on Castlemaine. There house values have risen by 39.5%.
The further away from the Melbourne the area is the lower is the growth, presumably as there is less of a flow on from the metropolitan market.
In the City of Greater Bendigo values have risen by 38.4%, lower than Macedon Ranges but still well above the 28.4% recorded in Melbourne.
Interestingly values in Ballarat, with a rise of 33.9% have also exceeded Melbourne.
For many people, the attraction to these areas is highlighted by the availability of more affordable property coupled with a country lifestyle. The data shows that as a result of additional transport options in these areas it has made it more and more possible for people to maintain employment and undertake a tree change.
There are 573 auctions scheduled this week in Melbourne compared to 600 for the same time last year. This is a rare but minor 4.5% fall which does not reflect the fact that in the first eight months of the year there have been 29.5% more auctions than the same time in 2013.
The current regional variation in auction numbers should be taken into account when analysing the auction market as many sellers in the inner east appear to avoiding winter.
The main auction activity in Melbourne remains outside the inner eastern suburbs with 16 homes scheduled to go under the hammer in <a href="/news">Reservoir</a>, 11 in <a href="/news">St Kilda</a> and 10 in <a href="/news">Essendon</a>, <a href="/news">Melbourne</a> and <a href="/news">Preston</a>. For buyers looking in the more expensive inner east volumes are rising slowing with six expected in <a href="/news">Camberwell</a>, <a href="/news">Kew </a>and <a href="/news">Hawthorn East</a>.
The average time on market for houses sold last month rose slightly from 43 to 44 days. Vendor discounting contracted from -5.2% the previous week to -5% last week.
Key data
<ul>
<li>Clearance rate week ending 27 July: 68.5%</li>
<li>Melbourne auctions expected week ending 3 August: 573</li>
<li>Melbourne private sales time on market week ending 27 July: 44 days (houses)</li>
<li>Melbourne vendor discounting market week ending 27 July: -5% (houses)</li>
<li>Listings being prepared for market are 0.7% higher in month ending 27 July (seasonally adjusted)</li>
</ul>
Photo courtesy of Richmeister/<a class="mw-mmv-license cc-license" href="https://www.propertyobserver.com.au/https://creativecommons.org/licenses/by/2.5" target="_blank">CC BY 2.5</a>.
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Calder Freeway provides drive for growth: RP Data's Melbourne auction preview

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There are 1,900 auctions scheduled across Australia this week. In capital cities there are 1,531 auctions expected compared to only 1,441 for the same period last year.
Compared to last week or this week last year capital cities are showing a moderate improvement in key indicators. This is highlighted by the fact that the national clearance rate reached a three month high last week.
A review of the RP Data Listings Index, which measures forward listings activity, shows a clear rising trend compared to last year. When translated to the auction market this should result in volumes in August and September around 10 to 20% higher than last year.
<ul>
<li>In Melbourne there are 665 auctions scheduled compared to 637 this time last year.</li>
<li>In Sydney there are 600 auctions expected compared to 469 for this week last year.</li>
<li>Brisbane is expecting 137 auctions, well down on the 220 this week last year.</li>
<li>Adelaide is expecting 62 auctions compared to 51 a year ago.</li>
<li>Canberra has 37 auctions scheduled compared to 29 a year ago.</li>
<li>Perth has 21 auctions compared to 27 a year ago.</li>
<li>There are eight auctions scheduled in Tasmania.</li>
</ul>
For the second week in a row the highest number of auctions across Australia is expected in the northern suburbs of Melbourne where 23 are expected in <a href="/news">Reservoir</a>.
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Auction market hits three month high: RP Data's national auction preview

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While it’s often not obvious, a sign of a poorly performing property market can be a low level of residential sales.
It reflects a low level of confidence; owners may be relucent to sell for fear of achieving a low price and buyers may also be reluctant to make the significant commitment that is required when entering into a home loan.
Low transaction levels have a range of negative consequences; professions related to property suffer, state government incomes drop and buyers can find it more difficult to find the right home due to a lack of choice. It's the reason why the number of transactions is an important metric to follow if you are interested in the state of the market – sometimes it can be even more important than prices.
For the Melbourne market, the current level of transactions suggests a healthy market below its peak. The first indication of this is that home values are at a peak in nominal terms but are still around three years worth of inflation below their value in real terms.
The second indication is that the overall number of settled sales at the end of April was only 1.3% higher than a year ago. This is better than 2012 by a reasonable 4.4% but well below the all-time record in 2007 when there was 105,194 sales in Melbourne and four months into this year we are still 22.2% lower.
This data may be surprising to anyone who has seen the record number of auctions this year but as that only accounts for around 31% of sales it can’t provide an accurate picture of the entire market.
As volumes rise, there are 665 auctions scheduled this week in Melbourne compared to 637 for the same time last year.
The market returned to trend last week following the aberration the week before. Along with an increase in volumes, demand continues to build slowly  in the lead up to spring when buyers will find more choice at auctions and improvement for the range of homes on offer.
On a Melbourne-wide basis, the number of days houses are taking to sell by private sale remained above 40 over the last week, higher than was the case over much of summer and autumn. The likelihood of the private sale market tightening substantially will be mitigated by the lack of growth in buyers based on mortgage market activity.
Key data
<ul>
<li>Clearance rate week ending 20 July: 68.4%</li>
<li>Melbourne auctions expected week ending 27 July: 665</li>
<li>Melbourne private sales time on market week ending 20 July: 43 days (houses)</li>
<li>Melbourne vendor discounting market week ending 20 July: -5.2% (houses)</li>
<li>Listings being prepared for market are 0.5% lower in month ending 20 July (seasonally adjusted)</li>
</ul>
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Melbourne transaction numbers slowly rising: RP Data's weekend auction preview

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A preliminary weighted average clearance rate of 70.7% was recorded this week across capital cities compared to 67.2% last week and 64.1% this time last year.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/07/20140720-Capital-city.jpg" rel="wp-prettyPhoto[g3516]"><img class="aligncenter size-large wp-image-3517" src="https://blog.rpdata.com/wp-content/uploads/2014/07/20140720-Capital-city-580x430.jpg" alt="RP Data national auction comment" width="580" height="430"></a>
Demand in the Sydney market has pushed the national preliminary clearance rate over the 70% mark for the first time since the middle of March this year.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/07/20140720-Sydney.jpg" rel="wp-prettyPhoto[g3516]"><img class="aligncenter size-large wp-image-3518" src="https://blog.rpdata.com/wp-content/uploads/2014/07/20140720-Sydney-580x384.jpg" alt="RP Data national auction comment - Sydney" width="580" height="384"></a>
Low winter volumes are a factor as the clearance rate recorded its sixth consecutive increase. A preliminary clearance rate of 76.9% was recorded in Sydney compared to 75.6% last week.
A clear improvement was seen in Melbourne compared to last week, with a preliminary clearance rate of 69.6% recorded compared to 66.4% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/07/20140720-Melbourne.jpg" rel="wp-prettyPhoto[g3516]"><img class="aligncenter size-large wp-image-3519" src="https://blog.rpdata.com/wp-content/uploads/2014/07/20140720-Melbourne-580x381.jpg" alt="RP Data national auction comment - Melbourne" width="580" height="381"></a>
In Brisbane a preliminary clearance rate of 54.1% was recorded compared to 43.3% last week. Adelaide recorded a clearance rate of 72.7% compared to 60.9% last week.
In Canberra a clearance rate of 71% was recorded and in Perth there was a clearance rate of 30%.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/07/20140720-Brisbane.jpg" rel="wp-prettyPhoto[g3516]"><img class="aligncenter size-large wp-image-3520" src="https://blog.rpdata.com/wp-content/uploads/2014/07/20140720-Brisbane-580x382.jpg" alt="RP Data national auction comment - Brisbane" width="580" height="382"></a> <a href="https://blog.rpdata.com/wp-content/uploads/2014/07/20140720-Adelaide.jpg" rel="wp-prettyPhoto[g3516]"><img class="aligncenter size-large wp-image-3521" src="https://blog.rpdata.com/wp-content/uploads/2014/07/20140720-Adelaide-580x383.jpg" alt="RP Data national auction comment - Adelaide" width="580" height="383"></a>
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Market continues to strengthen: RP Data's national auction wrap

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Analysis of changes in the median value of houses in suburbs within 20 kilometres of the CBD over the medium-term shows some interesting trends.
In order to smooth out some of the volatility present in the short-term this analysis focuses on median value growth over a five year period.
The data shows that owners at a range of price points and locations have recorded very healthy increases in value. There are three suburbs with median values in excess of $1 million in the top 10 list based on median value growth over the past five years. These three suburbs, <a href="/news">Hawthorn East</a>, <a href="/news">Middle Park</a> and <a href="/news">Ashburton </a>have all recorded a rise in median values of more than 45% over the five years to May 2014.
Hawthorn East tops the list with an increase of 78% over the past five years, but is followed by a much more affordable location in second place. <a href="/news">Watsonia</a> recorded a 63% rise and with a median house value less than a third of Hawthorn East, this shows good capital growth can be found at a range of price points.
Third on the list is <a href="/news">Derrimut</a>, however as a growth suburb underlying values are driven by new home development across the suburb.
Fourth on the list is <a href="/news">Pascoe Vale South</a> with a 54% rise. It is a suburb which is undergoing significant change and is seeing values boosted by the good transport options and well-sized blocks.
Other suburbs on the list can be seen below but it is worth highlighting <a href="/news">Northcote</a>, as it is representative of the gentrification underway in the inner north of Melbourne.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/07/vic-blog-best-suburbs-for-cap-growth.jpeg" rel="wp-prettyPhoto[g3494]"><img class="aligncenter size-full wp-image-3495" src="https://blog.rpdata.com/wp-content/uploads/2014/07/vic-blog-best-suburbs-for-cap-growth.jpeg" alt="Table - Best suburbs for capital growth within 20k of CBD" width="334" height="284"></a>
Melbourne Auction Market preview for week ending 20 July
There are 590 auctions scheduled this week in Melbourne compared to 519 for the same time last year. The highest number of auctions is expected in the northern suburbs where 16 are expected in <a href="/news">Reservoir</a>.
Seasonally low volumes are not only a factor in the auction market with the overall level of new listings also being lower than a year ago. In Melbourne there were 4.9% fewer homes listed for sale over the last month and 8.8% fewer homes overall on the market.
Fewer homes on the market than a year ago is a positive sign, especially from a sellers’ point of view, however the lower number of new listings may put pressure on prices if it persists and buyer numbers remain at current levels
The average time on market for houses sold last month rose slightly from 40 to 41 days. Similarly, vendor discounting increased from -5.3% the previous week to -5.4% last week.
Key data
<ul>
<li>
Clearance rate week ending 13 July: 66.4%
</li>
<li>Melbourne auctions expected week ending 20 July: 590</li>
<li>Melbourne private sales time on market week ending 13 July: 41 days (houses)</li>
<li>
Melbourne vendor discounting market week ending 13 July: -5.4% (houses)
</li>
<li>
Listings being prepared for market are 1% lower over the month ending 13 July (seasonally adjusted)
</li>
</ul>
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Melbourne's best capital growth suburbs: RP Data's weekend Melbourne auction preview

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A preliminary weighted average clearance rate of 68.7% was recorded this week across capital cities compared to 68.9% last week and 67.7% this time last year.
<img class="aligncenter size-large wp-image-3478" src="https://blog.rpdata.com/wp-content/uploads/2014/07/20140713-Capital-city-580x428.jpg" alt="RP Data national auction comment" width="580" height="428">
Sydney provided the highest clearance rate and when combined with the higher volumes in Melbourne resulted in another solid week.
<img class="aligncenter size-large wp-image-3479" src="https://blog.rpdata.com/wp-content/uploads/2014/07/20140713-Sydney-580x386.jpg" alt="RP Data national auction comment - Sydney" width="580" height="386">
This week a preliminary clearance rate of 76.4% was recorded in Sydney compared to 72.4% last week. Sellers with auctions scheduled in spring will welcome the strong result this week.
In Melbourne there was a preliminary clearance rate of 67% recorded compared to 71.4% last week. The market has built a solid basis for spring and continues to offer buyers good opportunity.
<img class="aligncenter size-large wp-image-3480" src="https://blog.rpdata.com/wp-content/uploads/2014/07/20140713-Melbourne-580x377.jpg" alt="RP Data national auction comment - Melbourne" width="580" height="377">
In Brisbane a preliminary clearance rate of 47% was recorded compared to 59.5% last week. Adelaide recorded a clearance rate of 62.3% compared to 64.6% last week.
In Canberra a clearance rate of 64.3% was recorded and in Perth there was a clearance rate of 75%.
In Tasmania one auction resulted in sales from the 4 held.
<img class="aligncenter size-large wp-image-3481" src="https://blog.rpdata.com/wp-content/uploads/2014/07/20140713-Brisbane-580x380.jpg" alt="RP Data national auction comment - Brisbane" width="580" height="380"> <a href="https://blog.rpdata.com/wp-content/uploads/2014/07/20140713-Adelaide.jpg" rel="wp-prettyPhoto[g3477]"><img class="aligncenter size-large wp-image-3482" src="https://blog.rpdata.com/wp-content/uploads/2014/07/20140713-Adelaide-580x380.jpg" alt="RP Data national auction comment - Adelaide" width="580" height="380"></a>
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More auctions and more sales in capital cities than a year ago: RP Data's national weekend auction wrap

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The impact of land size on the value of and demand for a property is an interesting question.
Analysis of RP Data information comparing the sale price with the land area shows that location is still more important than size when comparing suburbs.
After all, a block of land that is twice the size and twice the distance from the amenities you desire is not likely to be as appealing as a well-located smaller one.
The value per square metre of houses in Melbourne’s million dollar suburbs demonstrates this.
<a href="/news">Toorak </a>is the city’s most expensive suburb for houses with a median sale price over the last year of $2.622 million. The average block size is however quite large at 8,232 square metres which translates to a cost of $3,187 per square metres. Interestingly, this is lower than the $6,274 in Albert Park and $6,074 in Middle Park and the median sale price is less than half that of Toorak
These two neighbouring suburbs have, compared to Toorak, very expensive land but this is more a factor of the small block sizes, at 2,092 square metres and 2,592 sqaure metres respectively.
At the other end of the spectrum is <a href="/news">Ivanhoe East</a>, a highly sought after suburb with a median sale price of $1.15 million; it has slightly larger blocks than Toorak at an average of 9692 square metres, again highlighting that location is the most critical factor.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/07/Land-size-table-blog.jpg" rel="wp-prettyPhoto[g3452]"><img class="aligncenter size-full wp-image-3453" src="https://blog.rpdata.com/wp-content/uploads/2014/07/Land-size-table-blog.jpg" alt="Does land size matter? RP Data Melbourne Blog" width="518" height="252"></a>
Melbourne Auction Market preview for week ending 13 July
There are 527 auctions scheduled this week in Melbourne compared to 426 for the same time last year.
The Melbourne market has been delivering consistent results for sellers in the past four weeks with very little change in the weekly clearance rate.
A review of the change in house values on a suburban basis shows that the largest increase over the last year was found mainly in inner city suburbs. <a href="/news">Middle Park</a>, <a href="/news">Hawthorn East</a>, <a href="/news">Braybrook</a>, <a href="/news">Balwyn North</a> and <a href="/news">Praaran </a>comprised the top five with changes in median value of between 43.2% and 24%. For apartments the top five included <a href="/news">Caulfield East</a>, <a href="/news">Middle Park</a>, <a href="/news">Canterbury</a>, <a href="/news">Flemington </a>and <a href="/news">Spotswood</a>.
The average time on market for houses sold last month rose sharply from 35 to 40 days despite average discounting being stable at -5.3% over the previous week.
Key data
<ul>
<li>Clearance rate week ending 6 July: 71.4%</li>
<li>Melbourne auctions expected week ending 13 July: 527</li>
<li>Melbourne private sales time on market week ending 6 July: 40 days (houses)</li>
<li>Melbourne vendor discounting market week ending 6 July: -5.3% (houses)</li>
<li>Listings being prepared for market are 0.5% lower in month ending 6 July (seasonally adjusted)</li>
</ul>
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Does land size matter? RP Data's Melbourne auction preview

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A preliminary weighted average clearance rate of 69.4% was recorded this week across capital cities compared to 66.6% last week and 65.1% this time last year.
Prior to this weekend the national year to date clearance rate was 67.3%. This is very healthy compared to the 63.2% recorded last year and in 2012 when less than half of all auctions resulted in sales when the clearance rates was 49.1%.
<img class="aligncenter size-large wp-image-3456" src="https://blog.rpdata.com/wp-content/uploads/2014/07/20140706-Capital-city-580x423.jpg" alt="RP Data national auction update" width="580" height="423">
This week a preliminary clearance rate of 74.6% was recorded in Sydney, a significant rise on the 71.1% last week.
<img class="aligncenter size-large wp-image-3457" src="https://blog.rpdata.com/wp-content/uploads/2014/07/20140706-Sydney-580x383.jpg" alt="RP Data Sydney auction update" width="580" height="383">
In Melbourne there was a preliminary clearance rate of 68.4% recorded compared to 68.3% last week. The Melbourne market has been delivering very consistent results for sellers in the past four weeks.
<img class="aligncenter size-large wp-image-3458" src="https://blog.rpdata.com/wp-content/uploads/2014/07/20140706-Melbourne-580x380.jpg" alt="RP Data Melbourne auction update" width="580" height="380">
In Brisbane a preliminary clearance rate of 59.3% was recorded compared to 42.2% last week.
Adelaide recorded a clearance rate of 75.6% compared to 62.7% last week.
In Canberra a clearance rate of 48.4% was recorded and in Perth there was a clearance rate of 52.6%.
In Tasmania two auctions resulted in sales from the six held.
<img class="aligncenter size-large wp-image-3459" src="https://blog.rpdata.com/wp-content/uploads/2014/07/20140706-Brisbane-580x383.jpg" alt="RP Data Brisbane auction update" width="580" height="383"><a href="https://blog.rpdata.com/wp-content/uploads/2014/07/20140706-Brisbane.jpg" rel="wp-prettyPhoto[g3455]"> </a>
<img class="aligncenter size-large wp-image-3460" src="https://blog.rpdata.com/wp-content/uploads/2014/07/20140706-Adelaide-580x382.jpg" alt="RP Data Adelaide auction update" width="580" height="382">
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Buyers drive up national clearance rate in week of low volumes: RP Data's national auction wrap

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There are 1,651 auctions scheduled across Australia this week. Across the capital cities there are 1,322 auctions expected compared to 1,029 to the same period last year.
Generally, the first two weekends in July is the midyear low point of the national auction market, all brought about by cooler weather and school holidays which combine to create a lull in the market. Buyers experiencing difficulty in finding an appropriate home for sale right now will find that by the end of August volumes should be around double what they currently are.
<ul>
<li>In Sydney there are 558 auctions expected compared to 861 last week. The clearance rate for the first six months of this year was 74.4% indicating the market has been slightly below trend for the last month.</li>
<li>In Melbourne there are 497 auctions scheduled compared to 811 last week. The clearance rate for the first six months of the year has been 67% with the past three weeks showing an improvement to trend.</li>
<li>Brisbane is expecting 115 auctions following 153 last week.</li>
<li>Adelaide is expecting 75 auctions compared to 79 last week.</li>
<li>Canberra has 38 auctions scheduled compared to  35 last week.</li>
<li>Perth has 30 auctions compared to 39 last week</li>
<li>There are nine auctions scheduled in Tasmania.</li>
</ul>
Across Australia, the highest number of auctions is expected in <a href="/news">St Kilda</a> (VIC) and <a href="/news">Surry Hills</a> (NSW), each of which has 10 scheduled.
Melbourne auction preview
There are 497 auctions scheduled this week in Melbourne compared to 453 for the same time last year.
Across the city, the number of homes listed for auction is temporarily impacted by the school holidays, especially in the eastern suburbs. Interestingly, the private sale market in those suburbs is recording very healthy results.
Eastern suburbs comprises of a majority of the top 10 suburbs ranked by vendor discounting for houses sold by private sale over the most recent 12 month period. For example, <a href="/news">Oakleigh</a>, <a href="/news">Bayswater North</a>, <a href="/news">Box Hill</a>, <a href="/news">Ashwood</a> and <a href="/news">Box Hill South</a> all recorded an average vendor discount of less than 3%, well below the majority of other suburbs in Melbourne.
This is reflective of the city-wide private sale market more recently.
The average time on market for houses sold over the last month may have risen slightly to 35 from 34 days, however, vendors did not suffer as their average discounting contracted to -5.3 from -5.6% over the previous week.
Key data
<ul>
<li>Clearance rate week ending 29 June: 68.3%</li>
<li>Melbourne auctions expected week ending 6 July: 497</li>
<li>Melbourne private sales time on market week ending 29 June: 35 days (houses)</li>
<li>Melbourne vendor discounting market week ending 29 June: -5.3% (houses)</li>
<li>Listings being prepared for market are 0.8% higher in month ending 29 June (seasonally adjusted)</li>
</ul>
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Winter and school holidays affect auction volumes: RP Data's national auction preview

<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.

<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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