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EXPERT OBSERVER
There’s no escaping the monumental consequences we’ve experienced throughout COVID-19. From the devastating impacts on our health, lifestyle, employment, to the border closures preventing us from seeing loved ones.
The current global health crisis is a leveller and does not discriminate, impacting every single one of us. The immediate dialogue around international border closures is the lack of overseas travel, but it’s time to look at what the impact of reduced immigration will have on our housing market, and more specifically, on property investment. 2020 has been full of uncertainty and property investors have every right to be on the edge of their seats, yet the Australian housing market has proven to be remarkably resilient, particularly in the last 12 months.
Whilst immigration is stagnant and vacancies have slightly increased, we are now seeing an unanticipated rise in interstate migration and the emergence of a new trend – the return of the Aussie expat. The return home has already begun for many of the 1,000,000 Australians who live and work overseas, with hundreds flying home each week. Returning expats can now return home even sooner under the Government’s expanding quarantine processing in Darwin, set to process around 1,000 expats a month.
Over 480,000 Australians have already returned home in the last year - majority due to the global pandemic - and the Department of Foreign Affairs and Trade has revealed that there are over 36,000 Australian residents who have registered interest in coming home, with more than 27,000 in the process of returning. This is an unprecedented spike in returning expats. According to the ABS, the 2018- 2019 financial year saw Australia's population increase by 239,600 people due to net overseas migration. The amount of returning expats has already exceeded this.
In addition, experts predict that millions of prospective future Aussies are ‘waiting in the wings’ to relocate here as soon as physically possible - seeking to flee countries that are currently home to escalating health or political risks such as USA, UK, Europe, Hong Kong and China.
As a result of these factors, demographic experts forecast we are due for a ‘migration tsunami’ which will lead to extremely high housing demand. With international borders expected to reopen in late 2021, Australia will see significantly less immigration resulting in slower population growth.
The Australian Government’s recent Federal Budget declares that Australia’s overall population growth is expected to grow 0.2 per cent in 2020-21 and 0.4 per cent in 2021-22, yet with this increase in returning residents and the many migrants who are looking to move to Australia imminently, by 2022 there will likely be an overall net increase in residents settling in Australia.
The return of expats combined with the postponements by those who had planned to leave Australia to work overseas has already kept vacancy rates low.
CoreLogic data from October reveals vacancy rates have dropped in every capital city in Australia, apart from Melbourne in the past month. As more expats looking for somewhere to live after they make it out of hotel quarantine, there is no doubt there will be further pressure on the market - and to further support our housing market, we can look no further than the Reserve Bank of Australia’s (RBA) November announcement.
The RBA’s recent slashing of the official cash rate from 0.25 to 0.1 per cent, a historical low, is a welcomed incentive for investors. We can expect to see banks pass this cut directly on to borrowers so investors can breathe a collective sigh of relief with the RBA promising not to hike rates for “at least” three years.
The Commonwealth Bank has also announced its lowest ever fixed rate home loan of 1.99 per cent. Australia’s biggest lender is now offering a new four-year fixed rate for owner occupiers paying principal and interest. This is great news for investors as this will lower the structure of interest rates and provide confidence that Australians can borrow over the long term at historically low rates.
The good news continues for investors with the most recent CoreLogic dataset revealing that house prices across Australia have finally risen overall for the first time since the start of the pandemic, with the national housing market experiencing a 0.4 per cent rise in October.
While we are not out of the woods yet, there is every reason to feel confident about the outlook for property investment. The economic picture isn’t as bleak as initially predicted and we can take comfort in the fact that as our expats return home (and why the bloody hell wouldn’t they?!), demand for residential property will continue to grow.
Investors need to be ready for a ‘migration tsunami’ and snap up solid investment properties while they can. With the on-going changes that we’ve experienced this year, it is essential to do your homework and seek expert advice and property management to ensure you make smart and rewarding financial choices in 2021. 
JAMES NIHILL is the Managing Director at Patrick Leo 
AUSTRALIA’S FORECAST… SUNNY WITH THE CHANCE OF A MIGRATION TSUNAMI: YOURGUIDE TO NAVIGATING THE RETURN OF THE EXPATBy James Nihill, Managing Director – Patrick LeoThere’s no escaping the monumental consequences we’ve experiencedthroughout COVID-19. From the devastating impacts on our health, lifestyle,employment, to the border closures preventing us from seeing loved ones. Thecurrent global health crisis is a leveller and does not discriminate, impacting everysingle one of us.The immediate dialogue around international border closures is the lack of overseastravel, but it’s time to look at what the impact of reduced immigration will have onour housing market, and more specifically, on property investment.2020 has been full of uncertainty and property investors have every right to be onthe edge of their seats, yet the Australian housing market has proven to beremarkably resilient, particularly in the last 12 months. Whilst immigration is stagnantand vacancies have slightly increased, we are now seeing an unanticipated rise ininterstate migration and the emergence of a new trend – the return of the Aussieexpat.The return home has already begun for many of the 1,000,000 Australians who liveand work overseas, with hundreds flying home each week. Returning expats cannow return home even sooner under the Government’s expanding quarantineprocessing in Darwin, set to process around 1,000 expats a month1.Over 480,000 Australians have already returned home in the last year2- majority dueto the global pandemic - and the Department of Foreign Affairs and Trade hasrevealed that there are over 36,000 Australian residents who have registered interestin coming home, with more than 27,000 in the process of returning.This is an unprecedented spike in returning expats. According to the ABS, the 2018-2019 financial year saw Australia's population increase by 239,600 people due to netoverseas migration. The amount of returning expats has already exceeded this.In addition, experts predict that millions of prospective future Aussies are ‘waiting inthe wings’ to relocate here as soon as physically possible - seeking to flee countriesthat are currently home to escalating health or political risks such as USA, UK, Europe,Hong Kong and China.
 
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j.ballantyne1990-6AQqhLzZaK

Australia is sunny with a chance of expat tsunami: James Nihill

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GUEST OBSERVATION
Are regional cities like Toowoomba about to become hot property? <a href="https://theconversation.com/institutions/griffith-university-828"> </a>
Australian governments have always wanted thriving regional cities, but policy innovations with this goal in mind have a <a href="https://theconversation.com/australias-dangerous-fantasy-diverting-population-growth-to-the-regions-105052">bad history</a>. Planned well, regional cities have huge potential to generate <a href="https://theconversation.com/bust-the-regional-city-myths-and-look-beyond-the-big-5-for-a-378b-return-79760">national economic growth</a> while improving <a href="https://theconversation.com/the-average-regional-city-resident-lacks-good-access-to-two-thirds-of-community-services-and-liveability-suffers-131910">livability and sustainable development</a>.
Governments want strong economies, diverse job opportunities and growing populations in regional cities. The Commonwealth’s <a href="https://www.infrastructure.gov.au/cities/city-deals/index.aspx">City Deals</a> and <a href="https://www.infrastructure.gov.au/cities/smart-cities/plan/index.aspx">Smart Cities Plan</a> have recently renewed focus on these priorities.
 
The <a href="https://theconversation.com/australias-dangerous-fantasy-diverting-population-growth-to-the-regions-105052">main policy problem</a> for regional cities has been creating enough employment opportunities to attract residents from capital cities. Unexpectedly, the COVID-driven trend towards <a href="https://www.remoteyear.com/blog/what-is-remote-work">remote working</a> may have delivered a solution.
Suddenly, the potential of digital technology for working remotely is being embraced. Many people could live in regional cities while working remotely for employers elsewhere. If this trend continues, regionalism could well become the newest phase of Australian urbanism.
An urban country dominated by capitals
An urban country emerged from <a href="https://www.cambridge.org/core/journals/urban-history/article/abs/australian-urban-history-a-progress-report/3740C0E5729075AB694AA58F4B81C895">as early as the 19th century</a> as modern Australia took shape. Almost 90% of Australians now live in cities, making us one of the most urbanised countries in the world. <a href="https://www.abs.gov.au/ausstats/abs@.nsf/Lookup/by%20Subject/2071.0%7E2016%7EMain%20Features%7ESnapshot%20of%20Australia,%202016%7E2">More than two-thirds are in the capital cities</a>; relatively few live in regional cities.
The east coast capitals developed first. Other capitals followed, along with industrial cities like Newcastle and Geelong. Regional cities grew at different speeds; some have <a href="https://en.wikipedia.org/wiki/Ballarat">longer histories</a> than <a href="https://en.wikipedia.org/wiki/Gold_Coast,_Queensland#History">others</a>.
<a href="https://images.theconversation.com/files/370462/original/file-20201119-21-a8cxhi.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/370462/original/file-20201119-21-a8cxhi.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="Map showing distribution of population centres around Australia"></a>
 Most of Australia’s population is clustered around a few big urban centres. <a class="source" href="https://www.abs.gov.au/ausstats/abs@.nsf/Lookup/2071.0main+features1132016"> </a>
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The nationwide shift to suburbia started in the early 20th century and has accelerated since. The “Australian Dream” of owning a free-standing family home in the suburbs remains <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2017-07-16/housing-affordability-whats-happening-to-great-australian-dream/8694330?nw=0">dominant</a>. It drives the relentless expansion of outer suburbs, especially around the large capitals.
Decades of constant suburbanisation and expansion of capital cities fuelled the rise of <a href="https://theconversation.com/australian-cities-and-their-metropolitan-plans-still-seem-to-be-parallel-universes-87603">metropolitan Australia</a>. Here, expanding outer suburbs extend into surrounding hinterlands before eventually connecting with neighbouring cities and towns. Metropolitan Melbourne, Greater Sydney and South-east Queensland are examples.
Urban consolidation, focused on increasing the density of urban cores and inner suburbs, is another recent phase of Australian urbanism. It is <a href="https://theconversation.com/vested-interests-behind-city-shapers-often-subvert-higher-density-policies-74244">promoted</a> as an efficient way to improve the availability and mix of urban housing, while slowing unsustainable sprawl. The <a href="https://theconversation.com/media-picture-of-urban-consolidation-focuses-more-on-a-good-scare-story-than-the-facts-58044">broad uptake</a> of urban consolidation across Australia is one of the main reasons inner-urban living became desirable in recent times.
A common thread through the phases of Australian urbanism is that the overwhelming concentration of people and jobs in capital cities has been <a href="https://theconversation.com/australias-dangerous-fantasy-diverting-population-growth-to-the-regions-105052">difficult to reverse</a>. Until now, migrating to a regional city and bringing your job with you was a distant dream for most workers and policymakers.
Departures and arrivals
Things may be about to change for regional cities. A <a href="https://www.news.com.au/finance/exodus-from-australian-cities-as-coronavirus-pushes-people-to-the-regions/news-story/09ef690c2847484f7e9777fd1ca5ce43">new trend</a> of people relocating from capital cities to regional areas appears to be gaining momentum.
This new internal migration creates a unique opportunity for governments to grow regional cities and stimulate economies.
Regional cities will <a href="http://www.regionalaustralia.org.au/home/wp-content/uploads/2017/06/Lighting-Up-our-Great-Small-Cities_Report.pdf">benefit from expanding populations</a>. More people will generate new cultural attractions, more social opportunities and greater vibrancy.
City revenues will rise as more taxes and rates start to flow through. Policymakers can then deliver much-needed <a href="https://theconversation.com/the-average-regional-city-resident-lacks-good-access-to-two-thirds-of-community-services-and-liveability-suffers-131910">liveability improvements</a>.
Policy innovations for regional cities should focus on quickly delivering quality housing and social infrastructure such as schools and hospitals. Care must be taken to ensure rapidly rising rents and <a href="https://theconversation.com/its-not-just-the-buildings-high-density-neighbourhoods-make-life-worse-for-the-poor-82070">gentrification</a> don’t displace existing residents. Displacement of regional city residents was a big <a href="https://www.tandfonline.com/doi/abs/10.5172/rsj.19.3.211">problem during the mining boom</a>.
Regionalism also presents opportunities and challenges for the capital cities. <a href="https://info.propertycouncil.com.au/property-australia-blog/office-vacancy-rates-reflect-strong-base-settings">Growing vacancy rates</a> for residential, commercial and retail space could become permanent. Falling populations and fewer workers will hurt some sectors. Sunk investment in infrastructure, including public transport, might be unrecoverable if projected user numbers don’t materialise.
Even if some residents leave capital cities, others will still arrive. There will probably be distinct demographic differences between the two groups. Most of those leaving will be established professionals with occupations they can continue remotely. Most arrivals will likely be interstate and overseas migrants, as well as graduates looking for entry-level professional roles.
For the next few years at least, the option to work regionally for a capital city employer is likely to be negotiated and earned, rather than automatic.
Regional future demands adaptable planning
The coming years will definitely not be business as usual for Australian cities. The rise in remote working will bring <a href="https://theconversation.com/coronavirus-has-changed-our-sense-of-place-so-together-we-must-re-imagine-our-cities-137789">transformative changes</a>.
It will not be enough to just plan for growth in regional cities. It is imperative to plan well, plan strategically and plan for the long term.
The move towards regionalism will have financial, social and environmental impacts. Established urban patterns may no longer hold. Policy responses will have to be innovative, flexible and dynamic.
Governments may need to activate special regulatory and legal arrangements to effectively manage trends towards regionalism. The innovative frameworks for regional development in recent <a href="https://www.infrastructure.gov.au/cities/city-deals/index.aspx">City Deals</a> are illustrative of new policy approaches to shaping regionalism.
We see a shift in the distribution of some planning and development powers between tiers of government to prioritise certain projects. Changes will have to be justified by economic, environmental or social objectives. Even if necessary, it might cause controversy, upheaval and legal challenges.
Governments will need to be strategic, diplomatic and brave to maximise future opportunities for regional and capital cities. Recognising that regionalism looks like the newest phase of Australian urbanism is a good start.<img src="https://counter.theconversation.com/content/149170/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/tony-matthews-234160">Tony Matthews</a>, Senior Lecturer in Urban and Environmental Planning, <a href="https://theconversation.com/institutions/griffith-university-828">Griffith University</a>
This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/regional-australias-time-has-come-planning-for-growth-is-now-vital-149170">original article</a>.
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Regional Australia's boom time has come, planning is vital

Lane Cove is Sydney's busiest auction suburb this weekend

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Queensland developer Seymour Group has announced the appointment of BESIX Watpac as the builders for their New Farm development, The Oxlade.
Located at 80 Oxlade Drive, the riverfront residences offer a collection of 30 residences with up to 16 metres of river frontage.
The project will mark the first development led by Brisbane businessman Kevin Seymour’s grandson, Ben Seymour.
“You’ve got young Ben here who is taking over the reins and I guess it’s the first of the whole new era of the company and development”, Kevin Seymour said.
Over 21 residences within the $100 million, six-storey development already been sold, with the construction set to commence in the coming week.
“They’re all owner-occupiers, they’re all people from Brisbane”, said Place Estate Agents’ Sarah Hackett, who is marketing the project.
Designed by bureau^proberts, the apartments afford between 210sqm and 380sqm of living space, with views of either the Brisbane skyline or the Brisbane River.
The apartments offer herringbone timber flooring, natural stone finishes and multiple living areas.
“Each residence [is] individually crafted and elegantly designed to create free flowing, light-filled spaces”, the project marketing read.
The project’s construction is expected to complete in mid-2022.
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BESIX Watpac appointed as builders for New Farm development, The Oxlade

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<div>The overall market in the Rockhampton and Capricorn Coast area has seen positive improvement throughout 2020, despite the ongoing COVID situation, however activity in the prestige property market, priced over $1 million in the Rockhampton and Capricorn Coast area, has seen a decline in overall sales numbers compared to 2019, according to the November report from valuation firm Herron Todd White.
</div>
<div> </div>
<div>
HTW found that this sector of the market tends to be sporadic with only two residential sales above $1 million in Rockhampton and three sales on the Capricorn Coast in 2020. </div>
<div> </div>
<div>Properties in the Rockhampton prestige market are generally in the older areas of Rockhampton consisting of renovated Queenslanders on good sized allotments that generally have extensive ancillary improvements. This was evident in the highest sale for 2020, a property in Queen Street, The Range consisting of a fully renovated, two-storey Queenslander with five bedrooms, three bathrooms and two-car garage.
</div>
<div> </div>
<div>Further improved with an inground pool, half-court basketball court and extensively landscaped, the property sold for just over $1.5 million. The only other sale in Rockhampton was also a renovated Queenslander also on The Range for $1.1 million.</div>
<div> </div>
<div>The Capricorn Coast has also seen limited sales numbers of prestige property in 2020. The highest sale was a very well presented beach front house for just under $2.2 million. The property features a semi-modern home that had been fully renovated and extended to provide five bedrooms, three bathrooms and a single lock-up garage. The property was further improved with an inground pool, extensive landscaping and solar panels and has direct beach access with sweeping ocean views. </div>
<div> </div>
<div>The two other prestige sales on the Capricorn Coast were for larger modern homes in elevated positions that provided strong ocean views. </div>
<div> </div>
<div>"Listings of prestige homes in Rockhampton are currently extremely limited. One property going to auction in November is 265 Archer Street, The Range (pictured in title). The property is unique in this suburb due to it being a modern dwelling constructed in the past five years as opposed to the older style homes in the area. The house provides modern five-bedroom, four-bathroom accommodation with a two-car garage. Given the location and age of the dwelling, interest is expected to be strong," Cara Pincombe, HTW Property Valuer said. </div>
<div> </div>
<div>"Buyers looking to enter the prestige market generally have more options available on the Capricorn Coast, with listing numbers being strong in this price bracket. Buyers have the options of either beach front homes or homes in elevated positions providing good ocean views."</div>
<div> </div>
<div>"One beach front home currently listed is 24 Rosslyn Street, Rosslyn for just under $1.8 million. The property features a semi-modern, renovated dwelling with four bedrooms, two bathrooms and a two-car garage on a 1722 square metre allotment. The home has a pool, detached shed, ocean views and direct beach access."</div>
<div> </div>
<div>"Coming into the warmer months, the coastal listings may become more popular," Cara Pincombe concluded.</div>
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Rockhampton prestige market saw a minor pandemic induced decline: HTW

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The impact of COVID-19 on the property market is greatly varied across this large state.
COVID-19 has significantly increased the unemployment rate in Queensland with a greater impact on regional areas, particularly those with a heavy reliance on tourism. As of August 2020, the unemployment rate was 7.5 per cent.
The sustained period of the border closure between Queensland and other states has been a contributing factor to the already substantial impact of COVID-19. This is due to the strong connection between Queensland and New South Wales and, to a lesser extent, Victoria.
COVID-19 has helped strengthen ‘work from home’ opportunities, meaning owner-occupiers can take advantage of ‘lifestyle’ prospects instead of being tied to employment hubs.
Before COVID-19 hit, there was already a strong trend of sea- and tree-change homebuyers looking for the best of all worlds – lifestyle, accessibility to employment hubs and affordable housing.
In Queensland, the areas that attract those lifestyle buyers include the Gold Coast and Sunshine Coast.
Beachside suburbs especially outperform the market as they offer fantastic lifestyle opportunities.
However, while solid house price growth may be experienced in Brisbane, the inner-city unit market remains oversupplied and, therefore, high risk.
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Brisbane houses solid but inner-city unit market oversupplied: RiskWise

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<div>The Sunraysia property market has continued to show strong sale volumes and prices despite the COVID-19 pandemic, according to the November report from valuation firm Herron Todd White.
</div>
<div> </div>
<div>
HTW found that the majority of sales continue to be properties around the median sale price of $315,000 with very few listings over $750,000 being offered to the market.</div>
<div> </div>
<div>Although house prices have continued to steadily rise, sales over $750,000 are infrequent in the local market, however with rising building costs and an expectation that interest rates will remain low, HTW anticipate that sales over this price point will become more common.</div>
<div> </div>
<div>"The majority of residential sales over $1 million involve properties that have direct frontage to the New South Wales side of the Murray River in the townships of Gol Gol and Buronga, with only the occasional sale on the Victorian side of the border reaching these levels," according to Jake Garraway a HTW Residential Valuation Manager.</div>
<div> </div>
<div>"A sign of the currently strong demand is the sale last month of 73 Billabong Road, Nichols Point, which achieved a sale price of $1.345 million at auction, the highest sale price within the region on the Victorian side of the border since the sale of 10 Wingillie Street, Mildura for $1.5 million in 2015."</div>
<div> </div>
<div>"Although heavily influenced by the property’s proximity to the river, with only a narrow strip of Crown land separating it from the Murray River, the sale of 73 Billiabong Road, Nichols Point indicates that buyers are still willing to spend in this high end of the market," Mr Garraway concluded.</div>
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Mildura prestige market showed strong results despite COVID-19: HTW

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Beulah International has listed a Melbourne penthouse in its Paragon project.
Situated on the corner of Queen Street and La Trobe Street, the 48-storey tower’s three-bedroom penthouse has been listed for sale for $4.5 million.
Designed by Fender Katsalidis, the residence offers an outdoor rooftop terrace and 360-degree views over the Melbourne CBD, said to be the tallest private rooftop terrace in Melbourne.
Beulah’s Adelene Teh said the terrace can be used for entertaining guests, watching the New Year fireworks or as a place to exercise outdoors with added privacy.
“Rising 48 levels high, the private rooftop terrace creates a place for rest and a peaceful retreat from the streets below”, she said.
<img src="https://beulahinternational.com/site/wp-content/uploads/2020/10/PAR-Construction-Update-Oct-2020-2-1050x1400.jpg">
Other features in the penthouse apartment include a sculptural, spiral staircase, entertainer’s kitchen and a private bar.
Paragon’s other amenities will also be available to future residents, including access to a flexi-theatre, private dining room, residents’ library, gym, spa and sauna.
Access to Australia’s first elevated indoor urban forest, designed by Paul Bangay, will also be offered.
The 227-apartment tower is located minutes from Queen Victoria Market and Melbourne Central.
The penthouse is due for completion in early 2021.
 
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Beulah lists Melbourne penthouse in Paragon project

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<div>The COVID-19 pandemic continues to have an interesting impact on the local housing market around the coastal area of Lennox Head to Evans Head, according to the November report from valuation firm Herron Todd White.</div>
<div> </div>
<div>They found that there is very strong demand for properties which in turn has left agents with an ongoing limited supply of properties for sale.</div>
<div> </div>
<div>"Our market seems to be mainly influenced by the movement of people from the major cities and in particular Sydney. This movement has kept property prices at a premium and in some areas has also resulted in a slight increase in values," according to HTW Property Valuer Bernard Walter.
</div>
<div> </div>
<div>"The building industry has also been given some relief though as the North Coast is now in the bubble which allows travel into and out of Queensland."</div>
<div> </div>
<div>"Whilst demand resulting from these capital city markets has typically been concentrated in the more desirable areas of Byron Bay and the surrounding localities, in more recent years potential purchasers have expanded their searches into the desirable areas of the Ballina Shire, most notably Lennox Head, Skennars Head and East Ballina, as well as the rural localities of Newrybar, Brooklet, Fernleigh and Tintenbar," he added.</div>
<div> </div>
<div>Property prices may be impacted once the mortgage relief and JobKeeper payment have been lifted. </div>
<div> </div>
<div>Potential future impacts of COVID have left people with uncertainty as to jobs and incomes looking forward, which we may continue to experience in following years, HTW experts noted.</div>
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Ballina prestige market buoyed by limited supply: HTW

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A Kent Street, Sydney penthouse has successfully sold for $6.6 million.
The three-bedroom, four-bathroom trophy apartment was marketed by Tim Breckell and Travis Reeve of Vanguarde.
Situated at <a href="https://www.realestate.com.au/property/unit-2703-183-kent-st-millers-point-nsw-2000" target="_blank">2703/183 Kent Street</a>, the prestige abode is one of the largest apartments in the Millers Point precinct, according to the listing.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/NOV/23/Kent%202.jpg" alt="">
Set on 337 sqm, wrapping around the north-west corner of 'Stamford on Kent' it spans two levels.
It enjoys breathtaking vistas across Barangaroo and the harbour through to the mountains.
The Stamford on Kent building provides 24 hour concierge, pool, steam rooms, massage room and a platinum level professional gym.
Minutes from Barangaroo's parks, shops and dining, it's also a leisurely stroll to the historic Rocks district, Circular Quay, the ferry, Opera House and the CBD's business, dining and shopping precincts.
The home sold on November 12 2020.
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Stamford on Kent penthouse sold for $6.6 million

<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

Staff reporter

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