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Values within the Warrnambool market are yet to display any decline due to the impact of COVID-19, according to the July Herron Todd White (HTW) residential report. 
The valuation firm took a look at how a budget of $700,000 could be invested in property markets across the nation.
The report notes confidence across the purchaser landscape remains solid; whether this remains the case in three months’ time is open for discussion.
"Demand in this price sector was considered to be on a slight upward trend pre-COVID-19 and we predict that trend to continue moving forward should the COVID-19 recovery come quickly and completely," the valuation firm said. 
Premier central Warrnambool properties, particularly those with heritage stylings and some level of updated interior, are very much excluded from the $700,000 price range. 
The buy-in for entry level property in this location starts at $750,000, the report noted. 
"A great example of what you get at the premier entry level is 9 Victoria Street, Warrnambool, VIC, 3280 (pictured below)," the valuation firm said. 
Three bedrooms, one bathroom, detached two-car garage on an 800 square metre allotment.
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Situated one block removed from city centre. Very basic level of fit-out with fantastic heritage features.
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Moving ever so slightly away from the premier locations, potential buyers will start to see a number of options develop.
It’s here, still centrally located (within one kilometre of the CBD and beach) that buyers will find high quality townhouses, renovated heritage dwellings and properties with further development or value adding potential start to become available in the $600,000 to $700,000 range, the report noted. 
For those with a vision and greasy elbows, look no further than 90 Skene Street, Warrnambool (pictured below).
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A circa 1880 weatherboard dwelling requiring a whole lot of work situated on a 2,100 square metre allotment. 
While the amount of renovation work required can’t be overstated, the dwelling does feature distant ocean glimpses through the Norfolk pines.
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"There’s great potential for value adding with property such as this around Warrnambool," the valuation firm said. 
The report notes buyers interested in something with a little more room to move can find larger sized property (4,000 plus square metres) in Warrnambool’s surrounding lifstyle areas. 
5 Elizabeth Street, Allansford, VIC, 3277 (pictured below). 
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Set on one acre, ten minutes from Warrnambool in the smaller satellite township of Allansford, this property features a standard quality, modern style brick dwelling of approximately 240 square metres. 
Beyond the dwelling, the property is improved with a six bay workshop and large store shed.
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"As mentioned above, if you had this kind of money to invest within the region’s property market, then you have the opportunity to purchase within most market segments, from a large, centrally located character dwelling to a rural living style property on the outskirts of town," the valuation firm said. 
Properties within this price range are generally owner-occupied and we don’t see many of them offered for rent.
"Demand in this price sector has remained relatively steady over the past few years and we predict that it will continue to remain this way over the next 12 months.
"However, with the impact of COVID-19 on the property market still unclear, it is difficult to make any predictions with confidence." 
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What a lazy $700,000 can buy in Warrnambool: HTW residential 

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Within the Mount Gambier region, $700,000 will enable you to purchase practically anywhere, according to the July Herron Todd White (HTW) report. 
The valuation firm took a look at how a budget of $700,000 could be invested in property markets across the nation.
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The report started with the COVID update.
To date there are still no clear indications of the impact of COVID–19 on property values in the Mount Gambier region. 
"Whilst the market has softened as a direct result of government enforced restrictions and general economic uncertainty, we are yet to see this reflected in any value correction.
"As restrictions begin to ease and some normality resumes, we remain positive that the impact will be limited, however are not naive to the fact that there will be ramifications within the property market," the valuation firm said. 
"Now, where to spend a lazy $700,000", the report continued. 
The report suggests few dwellings sell for more than $700,000 and demand for property tends to reduce significantly when the market value is greater than $700,000. 
Within the past 12 months there have been a limited number of houses sold for $600,000 to $700,000. 
Typically, up to $700,000 will allow you to purchase a character dwelling in a sought-after central location.
The sale at<a href="https://www.realestate.com.au/sold/property-house-sa-mount+gambier-126727478" target="_blank"> 22 Lansell Street</a> (pictured above) features a fully renovated character dwelling with high quality fit-out, three bedrooms, two bathrooms and a swimming pool.
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On the outskirts of town, there have also been a few sales to come close to the $700,000 price range, the report noted. 
These sales are generally on rural living style allotments and are good quality homes featuring one to three acres, four bedrooms, two bathrooms and good ancillary improvements.
A four bedroom, two bathroom house at <a href="https://www.realestate.com.au/sold/property-house-sa-worrolong-132075426" target="_blank">21 Eldridge Drive, Worrolong</a> (pictured below) was sold for $610,000 in April.
Set on a 4,225sqm allotment, the home offers open plan living area, study, separate formal lounge, gourmet kitchen and alfresco area. 
<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/2020/8/14/worrolong.jpg" alt="">
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"While demand is limited for properties around the $700,000 range within Mount Gambier, there is greater demand for these properties in the popular coastal township of Robe," the valuation firm said. 
The report suggests in Robe, $700,000 will allow you to purchase either a centrally located dwelling or a dwelling with ocean or lake views, such as the sale below.
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A three bedroom, two bathroom waterfront house situated at <a href="https://www.realestate.com.au/sold/property-house-sa-robe-129832542" target="_blank">18 Woolundry Road, Robe</a> (pictured below) was sold for $720,000 last year. 
The Cape-Cod style home comes with open plan kitchen/dining/living, chef's kitchen and lush garden. 
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What a lazy $700,000 can buy in Mount Gambier: HTW residential 

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The Mildura local market continues to show some uncertainty with many agents still reporting reluctance by many vendors to put their homes on the market, according to the July Herron Todd White (HTW) residential report. 
The valuation firm took a look at how a budget of $700,000 could be invested in property markets across the nation.
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"This is more evident in the higher value range due to concerns that buyers may not yet be willing to pay a substantial amount in this time of uncertainty. Sales that are occurring indicate that values have held up well so far," the valuation firm said. 
The report notes within the local market, $700,000 is still considered a higher value range property, however as the local market has increased steadily over recent times, this amount has started to become more common. 
"$700,000 will purchase a large home located in an inner-city location in Mildura, or an above average standard dwelling in a modern subdivision on an allotment of up to 1,000 square metres. 
"Within the inner city, it is possible at this price point to find an older, extensively renovated dwelling in a preferred location," the valuation firm said. 
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The report suggests a recent example is <a href="https://www.realestate.com.au/sold/property-house-vic-mildura-132272454" target="_blank">26 Walnut Avenue, Mildura </a>(pictured below), which sold in January 2020 for $680,000.
 This property is in an inner-city location and includes an older home which has been recently renovated to a high standard and includes a pool.
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Surrounding Mildura are a number of well- regarded smaller towns such as Gol Gol, Nichols Point and Irymple, which include good quality homes on larger allotments ranging from 2,000 to 6,000 square metres. 
For around $700,000 it is possible to find modern homes built within the last ten to 15 years which include good ancillary improvements such as sheds, pools and extensive landscaping, the report noted. 
Buyers at this price point tend to prefer locations that are within a ten-minute drive of Mildura and which are connected to filtered town water.
The report suggests a recent example is 297 Irymple Avenue, Nichols Point (pictured below), which sold in December 2019 for $716,000.
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This property comprises a 2,576 square metre allotment improved with a circa 2005 built brick home featuring a pool, large shed and significant landscaping.
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These higher value homes are suited to owner- occupiers as investors chase higher rental returns at a lower price point. 
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"For investors, our advice would be to purchase two smaller, but still modern dwellings for $350,000 each, three older dwellings in secondary locations for $200,000 each or even a large block of flats (however there are few such blocks of flats at this price point).
"All of these would provide a more attractive return, of around five to seven per cent as opposed to a high-quality single dwelling. Mildura’s vacancy rates are still very low, meaning that finding tenants is generally straightforward," the valuation firm said. 
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What a lazy $700,000 can buy in Mildura: HTW residential 

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Once a destination for weekend getaways, the Geelong area has been reimaged as an ideal lifestyle for families, according to the July HTW residential report. 
The valuation firm took a look at how a budget of $700,000 could be invested in property markets across the nation.
Immersed in nature, but remaining in close proximity to the bright lights of the city, Geelong provides the answer for those seeking a solid investment or a place to call home, the report noted. 
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"It’s well known by many that in Geelong you most certainly can get more bang for your buck when it comes to the property market," the valuation firm said. 
With Geelong also now being a well-established city in itself, hosting 250,000 plus residents, it’s turning into one of the most sought after locations.
"$700,000 in Geelong can go a long way and can most definitely provide anyone looking within this range with a fantastic home for whatever they require," the valuation firm said.
 Whether it be a large double storey family home or a sleek and modern single storey home in a nice area, most would be able to find what they need within this price range.
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The report noted an example of what is out there for around the $700,000 mark is below:
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A five bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-armstrong+creek-133180182" target="_blank">31-35 Sirrom Crescent, Armstrong Creek</a> (pictured above) has recently been sold for $765,000.
The contemporary home comes with five bedrooms, three living zones, triple garage, alfresco and backyard. 
It is located just 10 minutes to Torquay and 15 minutes from the CBD. 
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What a lazy $700,000 can buy in Geelong: HTW residential 

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Melbourne’s western suburbs have rapidly evolved over the past ten years, according to the July Herron Todd White (HTW) residential report. 
The valuation firm took a look at how a budget of $700,000 could be invested in property markets across the nation. 
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The report suggests Melbourne’s housing market has always seemed somewhat unattainable for many, however figures released have shown that Melton and Wyndham are affordable and desirable options with larger blocks of land and bigger homes.
The city of Melton is proving a popular choice according to realestate.com.au. It is also the cheapest suburb in Melbourne, with a median price of $390,000.
Those looking for large blocks and new modern houses could consider Rockbank, Caroline Springs and Plumpton at a median price of $700,000, which is an attractive choice for first home buyers and families, the report noted. 
"Melbourne’s western area is spoilt for choice around the $700,000 mark compared to that of more expensive inner Melbourne suburbs where purchasing a nice home in that range is simply not possible," the valuation firm said. 
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The report suggests the Australian dream of a big home and backyard is attainable in the western suburbs.
 It is an area that is affordable and ever developing which is why it has attracted so many first home buyers and investors looking to break into the property market. 
The convenience of being close to the city combined with the benefits of not actually being in the heart of the city has rapidly increased its population growth.
Some examples of what you can expect around the $700,000 mark are as follows, the report noted. 
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The five bedroom, three bathroom house at<a href="https://m.realestate.com.au/sold/property-house-vic-taylors+hill-133332806" target="_blank"> 37 Nicholson Terrace</a> (pictured above) has been sold for $768,000.
It comes with three living zones, functional kitchen, pergola area and oversized double garage. 
It is located within close primality to schools, transport and shops. 
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Compare this to a well-established, higher socio economic region within Melbourne’s west such as Williamstown. 
It is considered much more difficult to obtain a nice house for the $700,000 price bracket within this region as the median house price is $1.35 million.
"Realistically, only small units and apartments in Williamstown can be purchased for this price," the valuation firm said. 
The report noted an example of what you could expect is as follows.
<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/2020/8/14/williamstown.jpg" alt="">
A two bedroom apartment at <a href="https://www.realestate.com.au/property-apartment-vic-williamstown-133618502" target="_blank">105/133 Railway Place, Williamstown</a> (pictured above) has been sold for $675,000.
The apartment comprises two large bedrooms, one bathroom, internal balcony, and secure car space with storage. 
It is set within the top Williamstown school zones. 
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What a lazy $700,000 can buy in Melbourne's western suburbs: HTW Residential 

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The State Government's NSW Public Spaces Legacy Program - which provides green space funding for local councils - has been wholeheartedly welcomed
The announcement of a $250 million program that incentivises the fast-tracking of development assessments with funding for councils to deliver more public spaces is great news for jobs in the property development sector, the environment and the community.
Local councils that focus on fast-tracking development assessments for projects that deliver much-needed jobs and housing will be eligible for up to $5.5 million each in funding for parklands, town squares and main streets under the program.
The program is available to the 68 councils currently participating in the e-planning system.
It is great to see the NSW Government provide councils with this incentive to fast-track the assessment of projects identified under the Planning System Acceleration Program.
It is all very well for Local planning strategies to call for greater funds for open space – but this adds to the costs for new home buyers. This new government funding stream which totals $250 million will support the so the acquisition and land and works to create playgrounds and green spaces.
The approach of providing funding directly to councils to deliver new and improved public spaces will help unlock significant construction jobs during the economic shock of COVID-19 by reducing the "local green space" contributions" paid initially by developers, but ultimately added to the cost of new homes.
This new initiative will reduce the burden on new home buyers and is an important step in ensuring high quality local amenity.
TOM FORREST is the Urban Taskforce CEO
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Public Spaces Legacy Program welcomed by Urban Taskforce: Tom Forrest

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There are the Boxing Day sales, and there was this week’s rush of extremely cashed-up investors desperate to get a slice of this week’s rare 31-year government bond auction.
What’s a bond? What’s a bond auction? We’ll get to those shortly.
First, just know that the government received <a href="https://www.aofm.gov.au/program/forthcoming-transactions/pricing-new-june-2051-treasury-bond" target="_blank">A$36.8 billion</a> of bids, <a href="https://www.afr.com/markets/debt-markets/new-30-yr-government-bond-attracts-over-20b-of-bids-20200727-p55frl" target="_blank">$20 billion</a> of them within hours of opening the two-day auction on Monday.
It had been wanting to move <a href="https://www.aofm.gov.au/program/forthcoming-transactions/pricing-new-june-2051-treasury-b" target="_blank">$15 billion</a>, and could have moved that much again.
$15 billion makes it the third biggest bond sale in Australian history. The two bigger were recent – a $19 billion ten-year bond sale in May and a $17 billion five-year bond sale in July.
Each sale nets the government money it won’t have to pay back for five, ten or 31 years at rates of interest that until recently would have been unthinkably low. 
The 31-year bond went for 1.94%. That means the foreign and Australian investors who bought them (including Australian super funds) were prepared to accept less than the usual rate of inflation right through until 2051 in return for regular government-guaranteed interest cheques.
Investors who bought ten year bonds were prepared to accept only 0.92% per year, investors who bought five year bonds, only 0.40%.
<h2>What’s a bond?</h2>
Even bond traders find it hard to get a handle on what bonds are. In his novel <a href="https://www.goodreads.com/book/show/306424.Bombardiers" target="_blank">Bombardiers</a>, author Po Bronson writes a scene where a bond trader refuses to work any more and demands to see an actual bond, “any kind of bond”.
He tells his boss he can’t sell bonds “if he’s never seen one”.
Like many things that used to exist physically, they’re now mainly numbers on screens, but it helps to get a picture.
This one is a US 27-year bond from 1945.
<a href="https://images.theconversation.com/files/350098/original/file-20200729-33-u4eet9.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/350098/original/file-20200729-33-u4eet9.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a> <a class="source" href="https://www.theherbstmancollection.com/dedication" target="_blank">The Joe I. Herbstman Memorial Collection</a>
The biggest part of the paper is a promise to repay the US$1000 it cost, in 27 years time.
The smaller rectangles are called coupons, and each year the owner can tear one off and take it in to get 2.5%.
If the owner wants to sell the bond to someone else (and bonds are traded all the time) it’ll be sold with one coupon missing after one year, two coupons missing after two years, and so on.
<h2>When rates fall, prices rise</h2>
The price of a bond will vary with what’s happening to interest rates. If they are falling, an existing bond, offering returns at old rates, will become more expensive and can be sold at a profit. If they go up, an existing bond will become worth less and have to be sold at a loss.
It leads to confusion. When bond rates fall, bond prices rise, and visa versa.
For half a decade now bond rates have been falling. They’ve fallen further during the COVID crisis, making bonds a doubly good investment. They offer superannuation funds and others certainty at a time when everything seems uncertain, and if rates continue to fall they increase in value.
It is an indictment of our times that so many investors want them. The government’s <a href="https://www.aofm.gov.au/" target="_blank">office of financial management</a> is going to need to sell an extra $167 billion over the coming year. The rush to buy suggests it could sell more.<img src="https://counter.theconversation.com/content/143598/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/peter-martin-682709" target="_blank">Peter Martin</a>, Visiting Fellow, <a href="https://theconversation.com/institutions/crawford-school-of-public-policy-australian-national-university-3292" target="_blank">Crawford School of Public Policy, Australian National University</a>
This article is republished from <a href="https://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/the-government-has-just-sold-15-billion-of-31-year-bonds-but-what-actually-is-a-bond-143598" target="_blank">original article</a>.
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The government has just sold $15 billion of 31-year bonds

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Older women have been recognised as the fastest-growing group of homeless people in Australia in recent years.
Yet until now we have not known exactly how many older women are at risk of homelessness. Our research, released today, finds about 240,000 women aged 55 or older and another 165,000 women aged 45-54 are at risk of homelessness.
The startling data from our research give us a much better picture of the scale of the problem. We also quantify the impacts of the various factors that may increase women’s risk of becoming homeless.
Effective policy is grounded in quantifying the nature and complexity of issues. To date, a limited but <a href="https://humanrights.gov.au/our-work/age-discrimination/publications/older-womens-risk-homelessness-background-paper-2019" target="_blank">growing number</a> of <a href="https://www.propertyobserver.com.au/https://www.aag.asn.au/documents/item/2234" target="_blank">studies</a> have highlighted the experiences of older women who are homeless or at risk of homelessness. But few studies quantified the numbers at risk and the factors that increase the risk.
<h2>What puts women at risk? 
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Older people are generally considered to be at less risk of homelessness because of their <a href="https://www.aihw.gov.au/reports/australias-welfare/home-ownership-and-housing-tenure" target="_blank">higher rates of home ownership</a>. But increasingly <a href="https://cepar.edu.au/resources-videos/research-briefs/housing-ageing-australia-nest-and-nest-egg" target="_blank">unaffordable housing</a> has added to <a href="https://www.smh.com.au/national/home-ownership-now-the-great-divider-of-australian-society-20190919-p52syz" target="_blank">concerns</a> about the circumstances and living situations of older people who do not own homes, have limited wealth and savings and do not have the benefit of living in social housing. These households rely on the private rental market and are at considerable risk of <a href="https://www.anglicare.asn.au/research-advocacy/the-rental-affordability-snapshot/docs/default-source/default-document-library/rental-affordability-snapshot-2020" target="_blank">housing affordability stress</a> and hence homelessness.
To examine risk profiles, we constructed an empirical model of risk of homelessness since the 2007-09 Global Financial Crisis using data from the <a href="https://melbourneinstitute.unimelb.edu.au/hilda" target="_blank">Household, Income and Labour Dynamics in Australia (HILDA) Survey</a>. The modelling included people who hold a mortgage or pay rent in private or public housing and are aged 45 or older.
This work found older women are more likely to be at risk of homelessness if they have one or more of the following characteristics:
• have been at risk before
• are not employed full-time
• are an immigrant from a non-English-speaking country
• are in private rental housing
• would have difficulty raising emergency funds
• are Indigenous
• are a lone-person household
• are a lone parent (but little evidence for those never married).
We estimated these profiles using a statistical model to analyse the relationship between homelessness risk and the characteristics of interest. We controlled for other characteristics that are likely to influence the risk of becoming homeless but which were not the focus of the study.
<h2>Risk factors compound each other</h2>
Multiple factors compound the risk of being homeless. While noting sampling limitations (small samples in subgroups of the data and annual volatility), the HILDA data for the post-GFC period suggest:
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for women aged 55-64 in a private rental, about 28% are likely to be at risk
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for women who are also not employed full-time the percentage at risk increases to about 34%
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for those who are also a lone parent the risk rises to over 65%
</li>
<li>
the risk increases to over 85% if, in addition, they have experienced at least one prior occurrence of being at risk.
</li>
</ul>
<a href="https://images.theconversation.com/files/349837/original/file-20200728-23-15z661u.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/349837/original/file-20200728-23-15z661u.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="Bar chart shows how a women's risk of homeless increases with each extra risk factor"></a>
Data: HILDA Survey, Author provided
Clearly, a person’s propensity to be at risk of homelessness is cumulative over time.
<h2>Why the numbers at risk will grow</h2>
Our estimates of the numbers of people at risk are accurate to within plus or minus 10%. Based on Australian Bureau of Statistics <a href="https://www.propertyobserver.com.au/https://www.abs.gov.au/ausstats/abs@.nsf/mf/3236.0" target="_blank">population projections</a>, it is clear that, without changes to policy, these numbers are likely to increase due to one important factor. The model shows a lone-person household is a dominant factor in increasing the likely risk of homelessness.
Lone-person households are expected to comprise 24-27% of all households by 2041. This equates to between 3.0 and 3.5 million Australians (of all ages). Female lone-person households are projected to increase by between 27.6% and 58.8% (ABS 2019b).
Australia has made <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-02-11/flat-wages-soaring-house-prices-australians-lifetime-renting/11898122" target="_blank">little policy progress on housing affordability</a>. We also have a <a href="https://www.propertyobserver.com.au/https://www.ahuri.edu.au/research/final-reports/306" target="_blank">severe shortage of social housing</a> to meet demand. This points to the need to pursue other avenues to improve the lives of older low-income households.
The Ageing on the Edge Older Persons Homelessness Prevention Project – funded by the <a href="https://www.eqt.com.au/philanthropy/jo-and-jr-wicking-trust" target="_blank">JO and JR Wicking Trust</a> and administered by Housing for the Aged Action Group (<a href="https://www.oldertenants.org.au/haag/about" target="_blank">HAAG</a>) – has worked over the past five years to give voice to these older women who are homeless or at risk of homelessness. The project works with interested agencies (government and non-government) to identify and promote early intervention and prevention strategies and to lobby for government policy change.
Of course, there is one simple answer to achieving long-term outcomes that allow people the basics of a decent older age: an appropriate affordable home.<img src="https://counter.theconversation.com/content/142906/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/debbie-faulkner-1137108" target="_blank">Debbie Faulkner</a>, Senior Research Fellow, UniSA Business, <a href="https://theconversation.com/institutions/university-of-south-australia-1180" target="_blank">University of South Australia</a> and <a href="https://theconversation.com/profiles/laurence-lester-1139402" target="_blank">Laurence Lester</a>, Senior Research Fellow, Centre for Housing, Urban and Regional Planning, <a href="https://theconversation.com/institutions/university-of-adelaide-1119" target="_blank">University of Adelaide</a>
This article is republished from <a href="https://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/400-000-women-over-45-are-at-risk-of-homelessness-in-australia-142906" target="_blank">original article</a>.
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400,000 women over 45 are at risk of homelessness in Australia

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In an apparent about face, the NSW government has halved land tax for developers of build-to-rent housing.
It came weeks after the the Treasurer Dominic Perrottet launched a report that called for a <a href="https://www.treasury.nsw.gov.au/draft-report" target="_blank">greater reliance on land tax</a> as a replacement for stamp duty.
The greater reliance on land tax is a long-term goal. At the moment family homes are exempt, along with boarding houses, caravan parks, retirement villages and farms. Most other users pay land tax, including <a href="https://www.revenue.nsw.gov.au/squiz-sandbox/land-tax/exemptions-and-concessions" target="_blank">landlords</a> and businesses.
The change will give developers who invest in build-to-rent schemes offering <a href="https://www.smh.com.au/politics/nsw/nsw-to-cut-land-tax-for-20-years-in-ambitious-build-to-rent-scheme-20200728-p55gbm.htm" target="_blank">long tenancies</a> a 50% discount on their land tax for 20 years.
<h2>Why build-to-rent?</h2>
Most Australian rental properties are owned by individuals, units in apartment blocks as well as free-standing houses. Half are owned by landlords with only one property; <a href="https://grattan.edu.au/wp-content/uploads/2018/03/901-Housing-affordability.pdf" target="_blank">three quarters</a> by landlords with only one or two properties.
If you want to rent from a corporation, or from someone with wide experience in owning and renting properties, you’ll find it hard.
It makes Australia unusual.
<a href="https://images.theconversation.com/files/350346/original/file-20200730-17-1kp56wj.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/350346/original/file-20200730-17-1kp56wj.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></a>
Nails in walls can cause problems for tenants.
In other countries corporations rent out housing, <a href="https://theconversation.com/what-australia-can-learn-from-overseas-about-the-future-of-rental-housing-90401" target="_blank">big time</a>. America’s five largest corporate landlords own 420,000 properties. Germany’s largest landlord, Vonovia, owns more than 330,000.
Overseas experience suggests corporations provide more affordable housing, and in many ways they make better landlords.
Individuals who own just one property have put most of their eggs in one basket.
Because they can’t afford for anything to go wrong they check the condition of the property regularly.
They prohibit nails in walls and pets, and typically offer only short-term leases.
Corporations can play the law of averages.
Because they know most properties will be well maintained they are satisfied with less-frequent inspections. They allow modifications, and typically offer long-term leases.
They offer an experience pretty close to ownership, in return for rent.
It’s this that the NSW government wants to encourage.
To ensure it happens and to ensure built-to-rents don’t revert to the Australian pattern of individual investors owning individual units, it will specify that the apartments have at least 50 units and are managed under <a href="https://nsw.liberal.org.au/Shared-Content/News/2020/LAND-TAX-CUT-TO-DRIVE-BUILD-TO-RENT-REVOLUTION" target="_blank">unified ownership</a>.
<h2>Tax makes it hard</h2>
At the moment such developments are discriminated against when it comes to land tax. No tax is due if the land value is below a threshold.
Individual landlords are usually below the threshold (some spreading their portfolio between multiple states to ensure they don’t trigger each state’s threshold).
Wholly-owned apartment blocks are above the threshold and can’t escape it. University of Technology Sydney calculations suggest land tax on build-to-rent developments can consume up to 27% of the annual rent collected.
And they are subject to goods and services tax. They can reclaim some of it but not all.
The announcement comes at a time when the COVID crisis has cut stamp duty receipts and created an oversupply of vacant apartments, particularly around universities.
The initiative appears to have been crafted before the crisis and to be more forward looking. Many of the build-to-rent projects will take years to complete.
<h2>It’s about changing the mix</h2>
That said, any extra building activity will support the construction industry and extra stock will reduce home prices and rents.
The initiative doesn’t spell the end of mum and dad landlords. They will still predominate for a long time.
It’s about providing options and security for tenants that isn’t widely available and will become more important as a <a href="https://theconversation.com/the-edges-of-home-ownership-are-becoming-porous-its-no-longer-a-one-way-street-119995" target="_blank">greater proportion of Australians rent</a>.
Other states will be taking note.
For a government that wants to eventually make land tax universal, the 50% cut is a step in the wrong direction. It might have been better to remove the threshold for small landlords.
But there’s no sign the NSW government has given up on its longer term goal. It’s unlikely to be the last time land tax rules are changed.<img src="https://counter.theconversation.com/content/143594/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/harry-scheule-3573" target="_blank">Harry Scheule</a>, Professor, Finance, UTS Business School, <a href="https://theconversation.com/institutions/university-of-technology-sydney-936" target="_blank">University of Technology Sydney</a>
This article is republished from <a href="https://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/why-nsw-is-skewing-its-tax-system-toward-build-to-rent-apartments-and-away-from-mum-and-pop-landlords-143594" target="_blank">original article</a>.
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Why NSW is skewing its tax system toward build-to-rent apartments and away from mum and pop landlords

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The focus of attention in the Central Coast Region market now seems to be on recovery and future planning, according to the July Herron Todd White (HTW) residential report. 

The valuation firm took a look at how a budget of $700,000 could be invested in property markets across the nation. 

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NSW Central Coast Region Coronavirus Update
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The report notes in line with many regions, there have been little reports of new cases of COVID-19 for some time.

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For many, life seems to be returning to normal. The tourist and visitor centres of Terrigal, The Entrance and Ettalong Beach have been busy for the past several weekends as crowds return.

"Recovery will be as big a challenge as the restrictions and lockdowns themselves. Looking around, a number of businesses have suffered terribly and some have closed. But confidence is returning. 

"Tempering this new confidence, our health professionals are reminding us that we may not have seen the end of this with a second wave likely," the valuation firm said. 
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What will a lazy $700,000 buy in the Central Coast region of New South Wales

A quick snapshot of some suburbs where investing $700k seems to be a good idea, the report noted. 

Wadalba – a newish and still developing suburb located towards the northern end of the region with plenty of schools, shops and easy access to the M1 Motorway.

A typical new project style dwelling, single level with four bedrooms, two bathrooms and double garage, recently sold for $690,000. 

"With slightly older two-storey options available for similar prices, we consider these to represent good value for first home buyers and growing families finding the area to their liking," the valuation firm said. 

Values have remained static overall over the year, so buying for quick financial gain isn’t great and returns are estimated at around the 4.5 to five per cent mark which is acceptable. Comparable suburbs to Wadalba include Hamlyn Terrace and Woongarrah, the report noted. 

A four bedroom, two bathroom home in Wadalba has recently been sold for $591,500. 

The single level home at <a href="https://www.realestate.com.au/sold/property-house-nsw-wadalba-133071962" target="_blank">7 Voyager Street </a>(pictured below) comes with expansive kitchen, dining area, lounge room, four bedrooms and fully fenced yard. 

It is located close to schools, supermarkets and parks. 

<img alt="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/8/3/wadalba.jpg">

The Entrance – one of the region’s older suburbs which sits between the ocean and lake. It is the day tripper and visitor centre at the northern end of our region, the report noted. 

Although there is a large permanent and long term occupant population (renters account for approximately 60 per cent of the area’s occupants), the area is very popular with the weekender market.

Units prevail in the town centre due to the ocean and lake views, shops and beach.

"We note that $700,000 can buy a two- bedroom unit with views within the town centre. But $700,000 is heading towards the higher end of unit values at The Entrance and we feel the more attractive options would be in the $350,000 to $400,000 price range for older units with lesser views," the valuation firm said. 

This price range has been more consistent in terms of price stability and returns which seem to be around the 4.5 per cent mark on a permanent occupancy basis.
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Bateau Bay – another of the region’s more established suburbs. The Entrance runs through the suburb thus creating two distinct markets.

The eastern (ocean) side is generally the more expensive option. If $700,000 is the marker, then good value on the no less popular western side of The Entrance Road is available. 

Generally older style but well established and accessorised property is the norm. 

An 80’s style, large, four- bedroom, single level dwelling with two bathrooms and double garage has just sold for $710,000 and a renovated 80’s style four-bedroom, two-bathroom dwelling with inground pool and off street parking recently sold for $685,000. These represent good value for those aspiring to live in Bateau Bay, the report noted. 

Terrigal – some would suggest that only good things happen at Terrigal and if price point is the gauge, there may be some foundation to this. 

$700,000 will likely secure an old style, rundown dwelling or perhaps a two- or three-bedroom unit or townhouse away from the town centre. 

"You might however get a vacant block of land with a little change left over – but you will need to be quick," the valuation firm said. 

Next door Wamberal shares these same qualities, with Erina to the west being not far behind, the report noted. 

A current listing is a one bedroom apartment in Terrigal priced at $699,000.

The contemporary apartment at <a href="https://www.realestate.com.au/property-unit-nsw-terrigal-133757722" target="_blank">3/10 Pine Tree Lane</a> (pictured below) comprises large bedroom, study, open plan lounge and dining area, and garage. 

It is set in a boutique complex, only metres walk to cafes, restaurants and Terrigal Beach. 

<img alt="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/8/3/terrigal%201.jpg">

Point Clare – sitting on the western shores of Brisbane Waters, this is an older and established location with just a short drive to meet up with the M1 Motorway. 

"Surprisingly, Point Clare has never been an area at the top of mind. We don’t know why, because there are a number of properties that can be purchased for less than $700,000," the valuation firm said. 

An 80’s style, slightly compact, four-bedder with single garage, landscaping and inground pool recently sold for $680,000.

While the median value across the region has fallen just a little over the past year, Point Clare has actually increased – just a little.

The area is predominantly owner-occupied with returns estimated to be around the 4.5 per cent mark.
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Umina Beach – located towards the southern end of the region, Umina Beach, Woy Woy and Ettalong Beach enjoyed better than average value increases, but since September 2018, the median value has steadily declined and is approximately ten per cent lower. 

Rentals account for around 30 per cent of properties in Umina Beach with the remainder being owner-occupied. Due to the high number of second dwellings in Umina Beach, we tend to think there is a hybrid factor going on here with owners remaining in their dwellings while renting out the second dwelling.

In value terms, there are still a lot of properties being sold under or around the $700,000 mark. 

A renovated three-bedroom, one-bathroom dwelling with plenty of undercover parking recently sold for $700,000 whilst a similar dwelling, but minus the parking sold for $670,000.

Older, more basic dwellings with the potential to add a second dwelling are selling for similar prices, the report noted. 
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The focus of attention now seems to be on recovery and future planning.

[smartcode_project:default project_id=5559]
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What a lazy $700,000 can buy in NSW Central Coast Region: HTW residential  

<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

Staff reporter

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