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Treasurer Scott Morrison had said before the budget that it would be a budget that remembers the renter, but very little was said during its presentation on May 9 except that the government was working with state and territory governments to “standardise use of long-term leases”.
It said the measure would provide “more security for renters”. 
But in practice, there is no increase in rent assistance to help low-income renters in the private rental market.
For the majority of Australia’s renters, housing will remain unaffordable, insecure and out of reach, according to Emma Power, a senior Research Fellow at Western Sydney University.
Morrison had said before the budget that, “You have got to remember that over 30% of Australians actually live in homes that are rented, and when people are finding it hard to get into the housing market that puts a lot more pressure on the rental market.”
Affordable housing has an important place in the housing system. However, below-market rents in central, work-rich regions are still extremely high and out of reach for many.
Of more concern, it is unlikely that many of these lower-income workers would be able to maintain their high rents at retirement. This generates two risks:
<ul>
<li>that the renter is evicted and forced to find housing on the private market, which puts them at high risk of homelessness</li>
<li>that the housing provider continues their commitment to house the tenant securely once their income drops, so the risk here is to the housing provider’s bottom line.</li>
</ul>
They will face a loss of income, as they drop rents from 80 percent of market value to around 30 percent of the retired person’s pension. 
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j.ballantyne1990-6AQqhLzZaK

Few measures in budget to help renters

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ASIC has accepted a court enforceable undertaking (EU) from Gold Coast-based accountant, Jenan Thorne of Saber Superannuation Pty Ltd after it found she had failed to act in the best interests of her clients and had prioritised her own interests above their interests.
The undertaking prevents Mrs Thorne (also known as Cenan Thorne or Cenan Dikmen) from providing financial services for a period of three years effective from 13 February 2019.
ASIC decided to review Mrs Thorne's advice when it discovered, during its investigation into Park Trent Properties Group Pty Ltd, that she was receiving referrals in relation to establishing self-managed superannuation funds (SMSFs) from Park Trent.
ASIC reviewed advice provided by Mrs Thorne when she was a representative of SMSF Advice Pty Ltd, a wholly owned subsidiary of AMP Limited, and concluded that she had advised some of her clients to establish SMSFs without taking their circumstances into account.
ASIC found that Mrs Thorne hadn't properly considered her clients' existing superannuation arrangements or explored why they were interested in investing in direct residential property through an SMSF.
When recommending SMSFs to some of her clients, she had inappropriately scoped advice by excluding insurance and retirement planning.
ASIC also found that Mrs Thorne did not adequately stress-test SMSF strategies and had recommended SMSFs to some of her clients despite inadequate evidence to suggest that the strategies would provide increased retirement benefits.
Furthermore, Mrs Thorne had recommended that her accountancy practice, Saber Accountants Pty Ltd, prepare the annual accounts and tax returns for the SMSF clients.  This led ASIC to determine that Mrs Thorne recommended the services of a related party to create extra revenue for herself.
As part of the EU, Mrs Thorne has agreed to inform all her former personal advice clients about the EU and provide contact details of her former licensee, SMSF Advice Pty Ltd. Former clients of Mrs Thorne who have enquiries or complaints regarding her advice or conduct should contact SMSF Advice Pty Ltd.
ASIC expects financial advisers to comply with their best interests duty and pay particular attention to how they scope their advice to clients.
Prior to recommending SMSFs, advisers should critically probe why a client wants to set up an SMSF and what they hope to achieve. Advisers should also give adequate consideration to risk management and succession planning before setting up an SMSF for a client.
ASIC Commissioner Danielle Press said financial advisers have a legal obligation to provide advice that is in the best interests of their clients, not prioritise their own interests or simply implement client instructions. 
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ASIC's Park Trent Properties investigation sees Gold Coast accountant step aside for three years

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<div class="column">
Located on the eastern side of the highway, Pimpama Estate provides easy access to Ormeau train station and the M1 Motorway, putting the Gold Coast and Brisbane on your doorstep.
Pimpama City Shopping Centre, located just minutes from Pimpama Village, opened its doors in late 2018.
The development boasts a Coles, Aldi, Best and Less, Zarraffa’s drive thru, Subway, 24-hour service station and 26 specialty stores.
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Pimpama Village masterplanned development in Pimpama growth corridor

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Perth auctions

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ASIC has banned Queensland financial adviser James Cribb from providing financial services for four years and suspended his Australian financial services (AFS) licence, held by Mode AFSL Pty Ltd (Mode), for 10 weeks.
ASIC found that Mr Cribb failed to act in his clients' best interests when providing advice on self managed superannuation funds (SMSF). ASIC found that Mr Cribb prioritsied his own interests over those of his clients by providing advice that was likely to benefit other entities related to him, including an SMSF administration business for which he was the sole director and a shareholder.
Specifically, ASIC found that Mr Cribb had failed to:
<ul>
<li>investigate the individual circumstances of his clients;</li>
<li>adequately investigate alternative strategies and products that may have been suitable for his clients' objectives; and</li>
<li>prioritise his clients’ interests over his own.</li>
</ul>
Mr Cribb’s advice failures were identified in ASIC’s recent review of SMSF advice (18-192MR). ASIC has also suspended Mode’s AFS licence after ASIC found that Mode did not take reasonable steps to ensure that its representatives complied with financial services laws. As well as being an authorised representative, Mr Cribb was the sole keyperson and responsible manager of Mode since 20 July 2017. Mode’s AFS licence will be suspended for a period of 10 weeks from 10 July 2018 or until it obtains approval for a replacement key person and responsible manager from ASIC.  Mr Cribb's banning will be recorded on ASIC's Financial Advisers Register. 　
ASIC's MoneySmart website has useful information for clients of advisers to help them understand what to do if their adviser has been banned.　
Mr Cribb and Mode have the right to appeal to the Administrative Appeals Tribunal for a review of ASIC's decision.
Mr Cribb was also an authorised representative of Axis Investment Centre Pty Ltd (Axis) from 9 August 2010 to 14 August 2017.
In 2017, ASIC undertook a large research project into SMSFs including testing whether advice providers were complying with the law when providing personal advice to retail clients to set up an SMSF. Last month, ASIC released two reports on its findings, Report 575 and Report 576 (18-192MR).
Mr Cribb’s conduct was identified by this project as he had a number of client files included in the representative sample. These client files related to advice Mr Cribb provided whilst he was an authorised representative of Axis. ASIC subsequently commenced a targeted surveillance on Mr Cribb to test a larger sample of advice he had provided whilst he was an authorised representative of Axis and Mode.
Under the Corporations Act, ASIC has the power to suspend or cancel an AFS licence where the licensee has not complied with their obligations under 912A.
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ASIC bans Mode financial adviser James Cribb in SMSF compliance crackdown

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The prestige property sector is currently outperforming the remainder of Perth’s property market, according to the valuation firm, Herron Todd White.
 After years of soft market conditions due to a total lack of market con dence, a rebound has nally begun in the desirable western suburbs of Perth, the CBD fringe area and desirable coastal localities. 
The substantial price contraction over the past 3 years has brought many properties to represent apparent “good buying”, resulting in today’s increasing market activity it noted.
In the second half of 2017, upgraders started to gain the required level of confidence to secure homes in areas they never thought they could afford. 
The period of opportunity and/or “fear of missing out” has been identified by a large group of upgraders within a relatively short period of time, causing a substantial uplift in demand which has eventually affected property prices. 
Many sought after areas are recovering while several suburbs have exceeded house value medians witnessed back in 2013 and 2014 when Perth enjoyed stronger conditions.
North Beach and Applecross are two of the top performing suburbs in today’s market with a 25.00% uplift in median value for both suburbs over the last year, according to the Real Estate Institute of Western Australia’s studies. 
The current median prices re ect a 15.8% improvement in values in North Beach and 9.8% in Applecross, since 2014. 
Supply of quality housing in prestige areas is well below current demand levels, which is also contributing to the improved prices.
Sales volumes are therefore relatively low somewhat restricting the market in several prestige areas, the latest HTW report advised.
Prices appear to still be on the rise, enquiries are increasing and the overall prestige market is expected to continue in this direction throughout 2018.
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As the rare opportunity to get a foot in the prestige market has already sailed for many, well established, upgrader suburbs have become the second best option. 
Rossmoyne along Swan River and Coolbinia near Perth CBD have already started to shoot up with a 14.8% and 29.7% increase in values respectively over the last 12 months.
Land values in excess of one million dollars can generally be described as prestige. Due to the limited stock of prestige housing in upper-end suburbs, there is currently a high demand for properties representing near land value with good views and close proximity to the beach. 
Demolition of existing, modest housing makes room for new prestige housing that is more suitable for the areas. 
"This is becoming prevalent, resulting in solid value increases at entry level stock in many sought after localities," the HTW report added.
Properties falling in the value brand of two to three million dollars fall within the lower end of the “prestige” range. 
"As always, values are heavily influenced by size, age, quality and condition of the home as well as locational aspects including views, proximity to private schools, beach, city and river."
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Mount Pleasant, South Perth, Nedlands, Dalkeith, Cottesloe, Claremont, City Beach Attadale, Subiaco, Trigg, North Beach and Sorrento are all examples of such premium suburbs. It should be noted that there is also modest housing of lesser values in some of these areas.
Properties holding a value of $4 million or above, located in prime af uent suburbs can be categorised as ultra-prestige - arguably required to be located on the river or ocean side. Peppermint Grove, Mosman Park and Applecross fit right into this category.
Apartments worth $1 million and above are typically seen as prestige. The state’s overall apartment market including the prestige sector is currently somewhat stagnant, although there has been good demand for good quality apartment projects in many prestige areas that have long lacked options for downsizing baby boomers.
High income earning professionals who desire large family homes close to private schools and Perth CBD are typical buyers in the prestige areas. Doctors and other health professionals take up a great portion of the prestige areas, especially southern suburbs such as Applecross and Mount Pleasant due to the proximity to the cities growing health district in Murdoch.
Agents have reported increased activity and interest in these areas. Applecross is currently the top-selling suburb in the state as of REIWA’s most recent update. Some of Perth’s most impressive mansions are located along the riverside in Applecross. The median house price is $1,570,000 although; a large portion of the suburb comprises modest dwellings reducing the overall median price substantially. A mansion located along Duncraig Road in Applecross, was sold in March 2018 for $8 million and would be classifed as ultra-prestige. The property was initially listed for $8.5 million in November 2017.
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Peppermint Grove is sitting at the very top of the prestige range, holding a median house price of $3,475,000, well above any other prestige suburbs. The mansions are typically located on quarter acre blocks surrounded by greenery. A fairly recent sale occurring in December 2017 saw the property sold for $11 million after being on the market for 53 days. The seller received the asking price for the property, "something we don’t see very often in today’s market."
Dalkeith is also among the top af uent suburbs in Perth with a median house price of $2.57 million. The suburb comprises residential buildings that are often seen as impressive, with somewhat different architecture. Dalkeith’s riverside along the well- known Victoria Avenue is one of Perth’s most expensive locations. The street is known for taking luxury to a whole new level. Below is a property situated along Victoria Avenue that sold in January 2018 for $5.35 million after being on the market for 145 days. 
Cottesloe is one of the top performing suburbs in Perth’s current market with a 16.9% rise in house median over the last 12 months, landing at $2,127,000. The proposed redevelopment plan of Cottesloe foreshore involving a complete makeover including multi-storey living, restaurants and an ocean side swimming pool is likely to play a part in the increasing demand currently seen. This has been identified by investors and also upgraders hoping for improvement. A property sold for $4,600,000 in March 2018 after only 5 days of proper marketing.
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In the short to medium term, the prestige sector is expected to see a slight increase in price as a result of supply restrictions caused by increasing con dence levels among buyers. Secondary suburbs are also expected to see improved market conditions, an opportunity increasingly identified by investors. 
HTW's valuers have confidently suggested growth or at the very minimum stable market conditions over the coming year, however, the long-term is uncertain as the overall state economy plays an important role in the performance of the property market.
"All we can say is that the economic key measures are tracking in the right direction," the report concluded.
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Perth trophy home market outperforming the rest of the market

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First home buyers are active in Perth’s property market, with data for the March 2018 quarter revealing an increase in sales for properties priced $500,000 and below.
REIWA President Hayden Groves said after observing subdued first home buyer activity during the December 2017 quarter, the lower end of the market had strengthen early in 2018.
“The final quarter of 2017 saw the composition of the Perth market shift.
The balance of sales had shifted back to the lower end of the market, Mr Groves said.
Perth’s preliminary median house price is $510,000 for the March 2018 quarter.
Mr Groves said once all sales settle, this figure was expected to increase to $517,000, which would put the March 2018 quarter median marginally lower (by 0.6 per cent) than the December 2017 quarter.
“Although Perth’s median house price experienced a minor adjustment during the March 2018 quarter, the median house price is up 0.4 per cent when compared to the same time last year, which shows prices are stable,” Mr Groves said.
Perth’s preliminary median unit price is $401,000 for the March 2018 quarter.
“This is expected to lift to $410,000 once all sales settle, which would put it equal with the December quarter median.
“These results are in line with REIWA’s 2018 forecast, which expects stable conditions throughout the remainder of this year, with moderate price growth during the next 12 months,” Mr Groves said.
Preliminary Landgate data shows there were 5,865 dwelling sales during the March 2018 quarter.
"We expect around 6,603 sales for the quarter overall, which is marginally lower than volumes recorded during the December quarter,” Mr Groves said.
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There was a 5.7 per cent increase in house sales in the sub-$500,000 price range during the March 2018 quarter.
“Increased activity in the lower end of the market is usually a sign first home buyers are active. We are fortunate the dream of home ownership is more attainable for West Australians than it is on the east coast. After seeing activity drop off last quarter, it’s good to see first home buyers are increasing their presence in the market,” Mr Groves said.
There were 14,413 properties for sale in Perth at the end of the March 2018 quarter.
Mr Groves said listings had increased 10.2 per cent over the quarter, but were down 2.9 per cent when compared to the March 2017 quarter.
“While it is pleasing listings have declined on an annual basis, the increase over the quarter is not cause for alarm. With overall sentiment in WA improving and all signs indicating the market has begun to turn, sellers are feeling more confident than they have been and therefore more inclined to put their property up for sale.
“We’ve also seen a sharp decline in rental listings over the past year which has had a flow-on effect to the established market. With some investors choosing to sell their rental property instead of lease it, this has contributed to the rise in the number of properties for sale in Perth,” Mr Groves said.
It took 67 days on average to sell a house in Perth during the March 2018 quarter.
Mr Groves said although average selling days increased over the quarter, it was still two days quicker to sell than it was during the March 2017 quarter.
“With more listings on the market, buyers now have more choice, which has had an impact on the time it takes to sell. It’s very encouraging though, that on an annual basis, we’re seeing average selling days decrease,” Mr Groves said.
 
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Perth first home buyers return during March 2018 quarter

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EXPERT OBSERVATION
The March 2018 quarterly construction figures from the Australian Bureau of Statistics indicate a slow-down in NSW while Victoria grows.
The latest construction figures indicate a slowing rate of work in NSW particularly for non-residential work.
When the figures are looked at on a per capita basis Victoria does seem to be building more than NSW. For total building in the March Quarter NSW construction was $1,145 per capita whileVictoria spent $1,343 per person.
In terms of residential construction over the March Quarter the per capita figures are$785 per person in NSW and $878 per person in Victoria.
On non-residential construction over the March quarter NSW expenditure was $270 per capita compared to the Victorian per capita expenditure of $339.
While both states are strong in long term measurements it does appear that Victoria is pulling ahead in overall construction dollars on a per capita basis.
It will be important for the NSW government to continue the excellent residential construction of recent years into the future by ensuring a good pipeline of projects in the planning system. There are concerns in the Sydney apartment market of a slow-down inpre commitments for apartments that could have an impact on housing supply.”
See below the graph of Total Building Value per Capita based on ABS seasonally adjusted data for the March 2018 quarter.
<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/2018/5/25/C1.jpg" alt="">
 
CHRIS JOHNSON is the Urban Taskforce CEO.
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Construction slowing in New south Wales but growing in Victoria

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AMP has announced it will discontinue self-managed super fund (SMSF) property lending.
It will continue to support existing SMSF home loan customers, however, from November they will not be permitted to switch to interest-only, internally refinance or extend their loan term.
The announcement follows similar moves from CBA and Westpac in recent weeks.
Westpac stopped SMSF home loans for new customers on 31 July, while CBA announced its ban would take effect from 12 October 2018.
Both Westpac and CBA will continue to support existing SMSF loan customers.
RateCity research director, Sally Tindall, said the writing could be on the wall for SMSF property lending.
“Today’s announcement from AMP comes as a shock to no-one,” she said.
“AMP’s new chairman, David Murray, has been one of the most vocal critics of self-managed super fund property lending,” she said.
In 2014, the Financial System Inquiry recommended that the government remove the exception to the general prohibition on direct borrowing for limited recourse borrowing arrangements by superannuation funds - although Scott Morrison, who was then treasurer, rejected the recommendation.
“Banks are focused on reducing risk in their loan books. In a falling property market, it’s not surprising we’re seeing lenders retreat from this type of lending,” Tindall said.
“Macquarie Bank, Bendigo Bank and Bank of Queensland are now the biggest banks in a dwindling pool of providers offering SMSF property loans,” she said.
List of lenders offering SMSF loans from next month:
<table style="width: 685px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="163">
Lender
</td>
<td valign="top" width="224">
Product
</td>
<td valign="top" width="113">
Max. LVR
</td>
<td valign="top" width="113">
Advertised rate
</td>
</tr>
<tr>
<td valign="top" width="163">
Bank Australia
</td>
<td valign="top" width="224">
SMSF Residential
</td>
<td valign="top" width="113">
80%
</td>
<td valign="top" width="113">
5.25%
</td>
</tr>
<tr>
<td valign="top" width="163">
Bank of Queensland
</td>
<td valign="top" width="224">
Business Term Loan
</td>
<td valign="top" width="113">
75%
</td>
<td valign="top" width="113">
5.55%
</td>
</tr>
<tr>
<td valign="top" width="163">
Bendigo Bank
</td>
<td valign="top" width="224">
SMSF Loan
</td>
<td valign="top" width="113">
On assessment
</td>
<td valign="top" width="113">
On assessment
</td>
</tr>
<tr>
<td valign="top" width="163">
Big Sky Building Society
</td>
<td valign="top" width="224">
SMSF Limited Recourse Investment Loan
</td>
<td valign="top" width="113">
75%
</td>
<td valign="top" width="113">
6.43%
</td>
</tr>
<tr>
<td valign="top" width="163">
Heritage Bank
</td>
<td valign="top" width="224">
SMSF - Fully Drawn Loan
</td>
<td valign="top" width="113">
80%
</td>
<td valign="top" width="113">
5.24%
</td>
</tr>
<tr>
<td valign="top" width="163">
Hume Bank
</td>
<td valign="top" width="224">
Self-Managed Super Fund Loan
</td>
<td valign="top" width="113">
70%
</td>
<td valign="top" width="113">
5.90%
</td>
</tr>
<tr>
<td valign="top" width="163">
IMB Bank
</td>
<td valign="top" width="224">
SMSF Loan
</td>
<td valign="top" width="113">
80%
</td>
<td valign="top" width="113">
On assessment
</td>
</tr>
<tr>
<td valign="top" width="163">
La Trobe Financial
</td>
<td valign="top" width="224">
SMSF Residential
</td>
<td valign="top" width="113">
80%
</td>
<td valign="top" width="113">
5.99%
</td>
</tr>
<tr>
<td valign="top" width="163">
Lendex
</td>
<td valign="top" width="224">
 
</td>
<td valign="top" width="113">
On assessment
</td>
<td valign="top" width="113">
On assessment
</td>
</tr>
<tr>
<td valign="top" width="163">
Liberty Financial
</td>
<td valign="top" width="224">
SuperCredit
</td>
<td valign="top" width="113">
80%
</td>
<td valign="top" width="113">
5.99%
</td>
</tr>
<tr>
<td valign="top" width="163">
LJ Hooker Home Loans
</td>
<td valign="top" width="224">
Accelerator SMSF
</td>
<td valign="top" width="113">
80%
</td>
<td valign="top" width="113">
6.00%
</td>
</tr>
<tr>
<td valign="top" width="163">
Macquarie Bank
</td>
<td valign="top" width="224">
SMSF Property Loan
</td>
<td valign="top" width="113">
70%
</td>
<td valign="top" width="113">
6.00%
</td>
</tr>
<tr>
<td valign="top" width="163">
Mortgage House
</td>
<td valign="top" width="224">
Home Loan Prime (SMSF - Class 1)
</td>
<td valign="top" width="113">
60%
</td>
<td valign="top" width="113">
5.09%
</td>
</tr>
<tr>
<td valign="top" width="163">
Red Rock Mortgages
</td>
<td valign="top" width="224">
SMSF residential express
</td>
<td valign="top" width="113">
70%
</td>
<td valign="top" width="113">
6.29%
</td>
</tr>
<tr>
<td valign="top" width="163">
Regional Australia Bank
</td>
<td valign="top" width="224">
SMSF Housing Loan
</td>
<td valign="top" width="113">
80%
</td>
<td valign="top" width="113">
5.87%
</td>
</tr>
<tr>
<td valign="top" width="163">
Resi
</td>
<td valign="top" width="224">
SMSF Loan
</td>
<td valign="top" width="113">
On assessment
</td>
<td valign="top" width="113">
On assessment
</td>
</tr>
<tr>
<td valign="top" width="163">
Resimac
</td>
<td valign="top" width="224">
 
</td>
<td valign="top" width="113">
80%
</td>
<td valign="top" width="113">
On assessment
</td>
</tr>
<tr>
<td valign="top" width="163">
Switzer Home Loans
</td>
<td valign="top" width="224">
SMSF Loan
</td>
<td valign="top" width="113">
70%
</td>
<td valign="top" width="113">
6.22%
</td>
</tr>
<tr>
<td valign="top" width="163">
Yellow Brick Road
</td>
<td valign="top" width="224">
SMSF Property Loan
</td>
<td valign="top" width="113">
70%
</td>
<td valign="top" width="113">
5.97%
</td>
</tr>
</tbody></table>
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AMP the latest lender to ditch SMSF property lending 

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A 9.9 percent yield at Ouyen in Victoria tanked as the highest gross rental yield across Australia this year.
It was based on the Mildura district town's $124,315 median house price.
The three bedroom home at <a href="https://www.realestate.com.au/property-house-vic-ouyen-117697315" target="_blank">4 Cooper Street Ouyen</a> that is for sale at $195,000 to $210,000 is suggested to have a a $250 to $260 a week rental prospect.
Houses            Median Value Gross Yield
Vic Ouyen Mildura $124,315 9.9% 
NSW Broken Hill Broken Hill $148,084 9.6% 
WA Kambalda East Coolgardie $90,978 9.2% 
Tas Gagebrook Brighton $156,712 9.1% 
SA Coober Pedy Unincorporated SA $130,463 9.1% 
WA South Hedland Port Hedland $203,452 8.9% 
Tas Queenstown West Coast $93,707 8.8% 
NSW South Kempsey Kempsey $228,435 8.7% 
Tas Bridgewater Brighton $186,166 8.6% 
NSW Condobolin Lachlan $207,067 8.6% 
 
Units
Qld Port Douglas Douglas $256,024 9.3%
Qld Manunda Cairns $153,919 9.0%
Qld Bungalow Cairns $160,812 8.9%
Qld Edmonton Cairns $152,917 8.9%
Qld Westcourt Cairns $211,390 8.7%
Qld Manoora Cairns $164,431 8.4%
Qld Edge Hill Cairns $185,089 8.2%
Qld Holloways Beach Cairns $186,552 8.0%
Qld Cairns North Cairns $240,453 7.6%
Qld Parramatta Park Cairns $235,248 7.5%
 
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<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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