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EXPERT OBSERVER
We at the SMSF Association are urging the Financial Adviser Standards and Ethics Authority (FASEA) to provide more guidance and certainty about how recognised prior learning for existing financial advisers will be implemented as they transition to the new education standard.
Introducing higher education standards for financial advisers has always been a key policy goal for out organisation, but it is essential that advisers have greater clarity and certainty as to how their existing qualifications will count under the new education standards being proposed by FASEA.
In its submission to FASEA on proposed guidance on education pathways for existing advisers, we at the Association say advisers who have made every effort to be educated and have completed high quality education and accreditations should have their efforts to be professionally recognised under the FASEA framework.
Currently, the proposed FASEA education standards for existing advisors do not provide enough recognition for prior learning.
A more meaningful recognition of advisers’ prior education should help them in the transition to the new regime with less cost and effort while maintaining the high standards that must be achieved to ensure consumer trust. 
We at the Association also strongly recommended that financial advisers who service SMSF trustees should be required to have completed specialised SMSF education.
This has been a long-term position of the Association that was recently echoed by ASIC who recommended that specific SMSF education requirements for advisers be introduced to raise standards of advice in response to the advice failings documented in ASIC’s Report 575 ‘SMSFs: Improving the quality of advice and member experiences’.
We also recommended greater flexibility for new entrants to undertake university study and still be able to enter the financial advice profession.
The proposed FASEA pathway for new entrants is too rigid and may starve the industry of future advisers.
We have also raised concerns about accountants giving SMSF advice under a limited license not being adequately considered under the existing pathways framework.
We are advocating a specific pathway designed for the services they provide rather than having them spend considerable time and money studying subjects that are not relevant to the advice they provide.
Jordan George is the SMSF Association's Head of Policy and holds an Honours degree in Economics and Law from Adelaide University
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j.ballantyne1990-6AQqhLzZaK

More clarity needed about financial advisor's prior learning: Jordan George

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The quickest path for first home buyers to purchasing a house in Greater Hobart is Brighton, according to a report released this week by Domain.
<img src="https://gallery.mailchimp.com/b16c0b957ea98f662ab985606/images/b7d9b0c3-df73-4669-a275-9750aee501f7.png">
For those looking to buy a home, Greater Hobart is one of the most accessible capital cities in Australia with the lowest entry price for houses.
"However, when LGAs are considered, accessibility is driven by the affordable outskirts," the report said.
The LGA of Hobart takes approximately 6.3 years to save for an entry price home deposit, which is almost on par with the average time to save for a deposit in Greater Sydney (6.7 years).
<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/2018/6/29/Hobart%20Home.jpg" alt="">
Indicative of Brighton's price potential, 23 Andrew Street, Brighton (pictured above) the two bedroom, one bathroom house sold for $230,000 last month.
However even though Greater Hobart requires the shortest time to save of all the capital cities, this has increased by three months for houses and four months for units compared to last year, a result of a strong, growing market outpacing wage growth.
<img src="https://gallery.mailchimp.com/b16c0b957ea98f662ab985606/images/965aee85-8e99-4381-9cbb-e52d9cb42f11.png">
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Brighton ranked the quickest FHB path to house ownership in Greater Hobart: Domain

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GUEST OBSERVATION
The Financial Services Royal Commission spent the last couple of weeks uncovering misconduct in the superannuation industry. But as we clean up superannuation we should also fix another deficiency – the need to provide life-long incomes for retirees.
A recent survey found a third of Australians over 80 had run out of money. The rest want reliable life-long incomes. Funnily enough, there are many projects that need funds and can produce cash flows for decades – infrastructure particularly.
Superannuation funds are increasingly making infrastructure investments themselves. What is needed is a way to link the long-term cash flows derived from physical assets straight through to pensioners.
Investment markets are currently too conflicted to do so.
The status quo
Companies, and even governments entering long term projects mainly use short-to-medium-term bank loans to fund their activities. These loans must be refinanced regularly.
For reasons that the Financial Systems Inquiry could not explain, companies often borrow overseas and so are subject not just to the risk of changing interest rates, but also to fluctuating foreign exchange rates.
To reduce these risks they may enter into sophisticated hedging programs, but this only serves to move risk elsewhere in the financial sector.
Banks, which provide short term finance for long term projects, suffer regular liquidity crises when depositors want to withdraw their money. An IMF report records 129 crises in the 40 years before 2010.
<img src="https://images.theconversation.com/files/232240/original/file-20180816-2903-1ufngwx.PNG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Banking crises.
At the same time, about 70% of superannuation benefits are taken as “account-based pensions” – regular income streams that the pensioners draw down to pay their expenses.
This money has been invested in thousands of investment options, all of which provide liquidity so that pensioners can sell assets at any time.
But if the money is taken as regular monthly income, all of this liquidity is unnecessary – the funds could have been invested in something that produces monthly cash flows.
The alternative
Consider, for instance, a large infrastructure project that will generate revenue over 50 years, increasing over time more or less in line with inflation.
One could design a financial instrument that paid investors a fixed proportion of that revenue. If the investors were superannuation funds, they could issue annuity contracts that paid out these cash flows to pensioners for life.
The borrowers would face lower risks, as their repayments move together with their revenue. Both borrowers and investors would be unaffected by changes to interest rates or the market value of investments.
Why hasn’t this already been done? It is not that the cash flows from long-term investments are insufficient. They currently exceed all private and public pensions.
These kinds of financial instruments are already used on a very small scale in Australia.
The major obstacle to their wider use seems to be that the financial sector feeds off the excess liquidity in the market. Banks make money by rolling over short-term loans. Investment managers, stockbrokers and exchanges make money by trading superannuation assets.
The whole sector operates under a paradigm where liquidity is paramount. So they fail to address the risks this presents to banks, economies and to retirees.
It is not that people do not like these “life annuities” when they are explained appropriately, but that their advisers and other experts active in the financial sector at best ignore them and at worst actively discourage them (by emphasising the “need” for liquidity).
The ongoing problems of the financial sector must surely make us ask whether it is fit for purpose? Or, at least, how well is it fulfilling its functions of allocating capital and managing risks?
We need appropriate pipes to ensure the cash generated by long-term assets flows through to fund pensioners. What we have instead is a flood of liquidity, which regularly buffets not only the financial sector but the entire economy.
The impetus to fund both long-term projects and life-long pensions must ultimately come from superannuation fund trustees. They appoint those who select assets and must set up the systems to ensure the cash flows are paid to pensioners.
To do this, they must first free themselves from the paradigm that liquidity is paramount. They then need to employ people and consultants whose loyalty is to the members and not the investment markets.
They will have to set up structures to be able to evaluate the soundness of new projects, and secondary markets to allow for trading as necessary. Government and regulators will have to permit funds to collaborate in this process.

Trustees will also need to take the lead and give members access to annuity products, and disinterested and expert advice as to when these are suitable.
Anthony Asher, Associate Professor, UNSW
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/superannuation-trustees-should-find-long-term-assets-for-their-pensioners-101370" target="_blank">original article</a>.
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Superannuation trustees should find long-term assets for their pensioners: Anthony Asher

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Prahran had the top Melbourne auction result on the weekend with a mooted development site selling at $3.6 million.
<a href="https://www.realestate.com.au/sold/property-house-vic-prahran-128438542" target="_blank">The 76 Williams Road offering</a> (pictured above) was listed through RT Edgar inconjunction Gross Waddell.
It was a block of five, two bedroom apartments, on separate titles returning $98,016 p.a.
The total land area of 975m2 featured two street frontages, with access via Russell Street.
It was within a short walk to the High Street shops and restaurants, nearby parklands and transport.
Each apartment comprises two bedrooms, open plan kitchen/living room, one bathroom and one car space.
It came with four monthly tenancies and one lease terminating February next year.
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Block of five Prahran apartments sells for $3.6 million.

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Queensland's Gladstone has the cheapest property rentals of the country.
CoreLogic calculated Barney Point has the cheapest house median rental and South Gladstone has the cheapest when it comes to units.
There is a three bedroom Barney Point cottage at 8 Callide Crescent <a href="https://www.realestate.com.au/property-house-qld-barney+point-415504567" target="_blank">available at $170 a week</a> (above).
Blackall, Clinton, Calliope and West Gladstone are also on the national top 10 list for 2017.
 
Houses                    Median Value Median Rent
Qld Barney Point Gladstone $186,162 $150             
Qld Blackall Blackall Tambo $175,361 $150             
Tas Zeehan West Coast $96,377 $150                     
Tas Rosebery West Coast $91,907 $160                  
Tas Queenstown West Coast $93,707 $160               
Vic Ouyen Mildura $124,315 $160                            
WA Kambalda East Coolgardie $90,978 $160             
SA Peterborough Peterborough $109,475 $165          
SA Coober Pedy Unincorporated SA $130,463 $170     
Qld Dysart Isaac $98,187 $170                                  
 
Units 
Qld South Gladstone Gladstone $120,964 $120
Qld Clinton Gladstone $241,178 $120
SA Whyalla Stuart Whyalla $146,462 $135
SA Millicent Wattle Range $172,655 $143
SA Whyalla Norrie Whyalla $158,967 $150
Qld Tannum Sands Gladstone $184,350 $150
Qld Calliope Gladstone $174,677 $150
Qld West Gladstone Gladstone $170,353 $150
Qld Barney Point Gladstone $135,473 $150
SA Whyalla Whyalla $166,005 $153
 
 
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Queensland's Gladstone has Austraia's lowest median rentals

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ASIC has commenced proceedings in the Federal Court of Australia and obtained interim injunctions against Perth-based Superfunded Pty Ltd and its sole director, Mr Max David Goldenberg, of Currambine and its sole shareholder Mark Travis Goldenberg of Claremont.
The proceedings concern their promotion of a business that encourages people to set up self-managed super funds to invest in the Superfunded Loan Investment Trust, which lends money to home buyers for their house deposits.
Neither Superfunded nor the Goldenbergs holds an Australian Financial Services licence and ASIC alleges that Superfunded and the Goldenbergs are therefore unlawfully carrying on a financial services business.
On 9 November 2017, the Federal Court of Australia made the following interim orders:　
<ul>
<li>restraining Superfunded and the Goldenbergs from providing financial services;　</li>
<li>restraining Superfunded and the Goldenbergs from having access to client or investor assets;　</li>
<li>prohibiting advertising, promoting or marketing financial services or products in relation to the investors and potential investors of the Superfunded Loan Investment Trust;</li>
<li>for the preservation of assets; and</li>
<li>for financial disclosure.　</li>
</ul>
The interim orders will remain in force until further order. The matter has otherwise been adjourned to a date to be fixed with liberty to any party to apply to the Court on 24 hours' notice.
Mark Goldenberg is the Trustee of the Superfunded Loan Investment Trust.
Mark Goldenberg was permanently banned from providing financial services in May 2009.　
Mark Goldenberg was sentenced to three years' imprisonment in 2011 following an ASIC prosecution for misusing $1.5 million of investor funds for his own benefit.
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ASIC acts against the Goldenbergs SMSF scheme

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Darling Point had a great year. Its 12 sales triggered a $5.6 million best median price place on CoreLogic top list of 2017.
Dawes Point topped the apartments list.
Point Piper was excluded from calculations as it did not see the sale of 10 or more houses, but it did rank third with apartments.
Darling Point house sales included a four bedroom at <a href="https://www.realestate.com.au/sold/property-house-nsw-darling+point-124922942" target="_blank">14 Thornton Street</a> that fetched $7.06 million.
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Houses                        Sales Volume Medium Value                                         
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</div>
</div>
</div>
NSW Darling Point Woollahra 12 $5,682,520        
NSW Vaucluse Woollahra 86 $5,471,853               
NSW Bellevue Hill Woollahra 68 $5,316,587             
Vic Toorak Stonnington 124 $4,761,631                   
NSW Longueville Lane Cove 37 $4,259,644             
NSW Tamarama Waverley 14 $4,254,666                 
NSW Dover Heights Waverley 36 $4,133,440           
NSW Mosman Mosman 259 $4,041,599                    
NSW Double Bay Woollahra 12 $3,994,114               
NSW Mcmahons Point North Sydney 20 $3,980,169  
Units 
NSW Dawes Point Sydney 13 $3,176,621
NSW Barangaroo Sydney 12 $3,119,329
NSW Point Piper Woollahra 25 $2,989,216
NSW Darling Point Woollahra 85 $2,292,686
NSW The Rocks Sydney 30 $2,025,499
NSW Millers Point Sydney 41 $1,810,199
NSW Cabarita Canada Bay 15 $1,766,719
NSW Seaforth Manly 18 $1,672,213
NSW Palm Beach Pittwater 11 $1,626,911
NSW Milsons Point North Sydney 42 $1,620,837
 
 
 
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Darling Point had highest median value in CoreLogic's best list in 2017

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Outback and mining towns dominated Australia's cheapest median home prices.
The list was prepared by CoreLogic.
Queensland's Dysart was among the busiest locations with 44 house sales.
There was a $98,000 median house price in the mining town.
Sales included a highest home at <a href="https://www.realestate.com.au/sold/property-house-qld-dysart-126340350" target="_blank">107 Beardmont Crescent</a> at $67,000.
Dysart is a service centre for the nearby Norwich Park coal mine, which closed in 2012, the Saraji coal mine, and the Lake Vermont Coal Mine, as well as grazing properties in the district. Most residents are employed by the coal mines.
Houses                Volume              Median                                                         
WA Mount Magnet Mount Magnet 12 $68,605     
WA Norseman Dundas 19 $80,314.                      
WA Kambalda East Coolgardie 15 $90,978            
Tas Rosebery West Coast 40 $91,907                   
Tas Queenstown West Coast 73 $93,707               
Tas Zeehan West Coast 18 $96,377                      
Qld Dysart Isaac 44 $98,187                               
Vic Rupanyup Yarriambiack 11 $99,299                
SA Pinnaroo Southern Mallee 12 $103,928           
Vic Sea Lake Buloke 11 $105,235                       
 
Units
SA Elizabeth Vale Playford 12 $128,118
Qld Beachmere Moreton Bay 11 $135,981
WA South Hedland Port Hedland 44 $136,227
Qld Woree Cairns 54 $142,780
Vic Moe Latrobe 33 $143,014
SA Whyalla Stuart Whyalla 37 $146,462
Qld Kooralbyn Scenic Rim 14 $146,839
Qld Edmonton Cairns 10 $152,917
Qld Manunda Cairns 63 $153,919
NSW North Albury Albury 13 $154,580
 
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Dysart, the Queensland mining town dominates the cheapest median housing locations in 2017

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ASIC has imposed additional conditions on the Australian financial services (AFS) licence of SMSF Advisers Network Pty Ltd (SAN).
According to ASIC: "This follows a surveillance which ASIC commenced because of a significant increase in adviser numbers at SAN in a relatively short period of time.
"As part of the surveillance, ASIC reviewed a number of SAN’s client files.
"This review identified concerns including that some of SAN’s advisers had failed to demonstrate compliance with the best interest duty and related obligations.
"ASIC found that the statement of advice (SOA) documents relied heavily on templated wording and many of the client files lacked evidence to support the advisers’ recommendations that clients establish a SMSF."
As a result, ASIC was concerned that SAN had inadequate supervision processes in place. 
The additional licence conditions require:
SAN must engage an independent expert to review and test the compliance of advice provided by SAN’s advisers and to assess whether SAN has appropriate supervision mechanisms in place to ensure that its advisers are meeting the best interest duty and related obligations.
Where shortfalls in supervision arrangements are identified, the independent expert will make recommendations to address the deficiencies.
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ASIC imposes additional licence conditions on SMSF Advisers Network

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GUEST OBSERVATION
It won’t help enough, but it will get some people their keys. 
The new <a href="https://www.liberal.org.au/latest-news/2019/05/12/helping-australians-buy-their-first-home" target="_blank">First Home Loan Deposit Scheme</a> announced the Coalition, and <a href="https://theconversation.com/view-from-the-hill-quick-on-the-draw-labor-matches-morrisons-first-home-owners-scheme-116969" target="_blank">instantly backed by Labor</a>, is likely to be popular among those on the cusp of buying their first home.
It’ll be open to singles earning up to A$125,000 and couples earning up to A$200,000 who have saved at least 5% of the value of the home. The government-owned National Housing Finance and Investment Corporation will partner with private lenders to put up as much as another 15% of the value of the home to take the deposit to 20%.
However, the scheme is capped at <a href="https://www.smh.com.au/federal-election-2019/no-free-money-morrison-dismisses-concerns-over-first-home-buyer-scheme-20190513-p51moj" target="_blank">10,000 home buyers per year</a>, roughly one tenth of the number of Australians who bought first homes in 2018.
It’ll help them - the latest survey shows that <a href="https://www.propertyobserver.com.au/http://www.abs.gov.au/ausstats/abs@.nsf/mf/6553.0" target="_blank">more than half of first homebuyers</a> needed financial assistance outside of their own savings to get their deposit. The <a href="https://www.propertyobserver.com.au/https://www.tandfonline.com/doi/abs/10.1080/14036090120617" target="_blank">benefits of home ownership</a> have been widely documented. But will it do enough?
Source of deposits
<img src="https://images.theconversation.com/files/274299/original/file-20190514-60557-572nt0.JPG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
<a class="source" href="https://www.propertyobserver.com.au/http://www.abs.gov.au/ausstats/abs@.nsf/mf/6553.0" target="_blank">Authors' own calculations from ABS Survey of Income and Housing 2013-14</a>
An often-expressed concern is that such a scheme will <a href="https://www.theguardian.com/australia-news/2019/may/13/first-homebuyers-scheme-who-gets-it-and-will-it-work-explainer" target="_blank">bid up house prices</a>. However, it is means-tested, making it much less vunerable to this criticism than the non-means-tested <a href="https://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Former_Committees/hsaf/report/c09" target="_blank">First Home Owners’ Grant</a>.
And is also capped at 10,000 loans per year, giving it little scope to price pressure.
However, it may not be means-tested enough.
Consider the population subgroup that broadly comprises aspiring homebuyers who qualify for the scheme: renters aged 25-34 years who meet the scheme’s income criteria and whose financial wealth is between 5% and 20% of the lowest-priced quarter of houses for sale in the borad area in which they live.
In the most-recent <a href="https://www.propertyobserver.com.au/http://www.abs.gov.au/ausstats/abs@.nsf/mf/6503.0" target="_blank">2015 ABS Survey of Income and Housing</a> there were 127,000 such potential eligible first home buyers, more than 12 times the 10,000 cap.
The cap is a practical necessity of course, needed to limit impacts on prices and prevent a cost blowout. But the weakness of the scheme is that the cap will be filled on a “<a href="https://www.smh.com.au/federal-election-2019/no-free-money-morrison-dismisses-concerns-over-first-home-buyer-scheme-20190513-p51moj" target="_blank">first come, first serve</a>” basis, without distinguishing between those who actually need help and those who are likely to meet the deposit requirement anyway.
The graph shows that some 40% of potential first home buyers have managed to save a deposit amounting to not much more than 5% of the home value. Only 7% have a 20% deposit or something near it.
Potential users of the scheme, by amount of deposit saved
<img src="https://images.theconversation.com/files/274312/original/file-20190514-60567-1rjotju.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Deposit saved by renters aged 25-34 who meet the scheme’s eligibility criteria, per cent of lower quartile property prices in area of residence, 2015-16. <a class="source" href="https://www.propertyobserver.com.au/http://www.abs.gov.au/ausstats/abs@.nsf/mf/6503.0" target="_blank">Authors' own calculations from the ABS Survey of Income and Housing 2015-16</a>
The Coalition could get more bang for its buck within the cap by targeting those in greater need of assistance; for example by prioritising those who cannot access the so-called <a href="https://theconversation.com/not-everyone-wins-from-the-bank-of-mum-and-dad-73842" target="_blank">Bank of Mum and Dad</a>. Not everyone has access to wealthy parents.
The Great Australian Dream of owning a home has been fading fast, and not just for young people. Naturally, the scheme’s details of the scheme require scrutiny. But overall, it provides a welcome acknowledgement (by both major parties) that the affordability crisis facing young people has not waned despite recent house price declines.
The scheme will restore the opportunity – at least to some – to accumulate wealth in property and enjoy the <a href="https://www.propertyobserver.com.au/https://www.tandfonline.com/doi/abs/10.1080/14036090120617">security and other benefits</a> that home ownership brings.
But seriously addressing housing affordability will ultimately require a bigger intervention.<img src="https://counter.theconversation.com/content/117073/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/rachel-ong-viforj-113482" target="_blank">Rachel Ong ViforJ</a>, Professor of Economics, School of Economics, Finance and Property, <a href="http://theconversation.com/institutions/curtin-university-873" target="_blank">Curtin University</a>
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/small-but-well-formed-the-new-home-deposit-scheme-will-help-and-its-unlikely-to-push-up-prices-117073" target="_blank">original article</a>.
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The new home deposit scheme will help, and it’s unlikely to push up prices

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

Joel Robinson

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

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

Lowe Living unveils Middle Park apartment development

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

DVB Projects to launch second Broadbeach apartment tower as demolition commences

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

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

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

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

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