<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

Gardner Vaughan Group breaks ground on first Gold Coast development, Bronze on Chevron

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

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Technology firm Urbanise.com and Prudential Investment Company of Australia have signed a 10-year agreement worth $16 million to develop cloud-based solutions for managing its property portfolio of more than 200,000 lots.
The agreement also includes plans to set up a shared platform to provide outsourced IT services to the Australian strata industry, which incorporates more than two million lots nationwide. The platform will help strata management professionals to outsource back office work.
PICA Group, Australia’s largest strata management company, operates 15 well-known brands including Body Corporate Services (BCS), Mason and Brophy, NSW Strata, Dynamic Property Services, GK Strata, and Strata 3 across New South Wales, Victoria and Queensland.
Urbanise’s global head of Strata David Bugden said, “Urbanise is implementing the entire product suite for PICA – Strata, MyCommunity, CRM, service delivery, mobile workforce, e-services and facilities management."
The partnership will offer facilities management, repair and maintenance services to PICA’s more than 350,000 tenants. Property owners can benefit through self-service web portals and mobile apps. PICA Group is also piloting Urbanise’s remote asset monitoring sensor technology at a 5,000-lot community in Sydney.
Greg Nash, managing director and Group CEO, PICA said, “The platform’s scalability and technology roadmap aligns with our vision for the broader strata industry. Cloud-based solutions will become fundamental to professionalising strata service delivery in the future. PICA and Urbanise are at the forefront of driving this industry change.”
 
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prateek24-ezbwHMbNAk

PICA signs agreement with Urbanise to manage strata portfolio via cloud   

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A tourist caravan/cabin park in the Queensland outback town of Chincilla, Australia's melon capital, is being offered to the market.
The four-star Chinchilla Tourist Park - the town's only one - comprises 105 sites consisting of 70 cabins and 35 caravan sites.
Built and opened in April 2013, the park has received development approval for inclusion of a relocatable home park.
CBRE’s Andrew Jackson has been appointed to sell the freehold going concern.
“As the only caravan/cabin park in Chinchilla, this property offers an advantage in the local tourism market, in addition to an opportunity for a new owner to attract permanent residents at an extremely reasonable entry cost,” Jackson said.
Presented as 'new', the tourist park provides tax depreciation benefits and minimal capex requirements in the short to medium term, he added.
The Chinchilla Tourist Park is nearly 300 km from Brisbane and offers a range of accommodation and facilities. The park also includes a three-bedroom manager’s residence, in addition to a staff residence on a separate title.
Jackson said the park, which had a turnover of nearly $6 million in its first year, was now being offered to the market in line with the owner’s plans to sell upon its establishment.
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Tourist park in Queensland's Chinchilla listed for sale

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 A modern warehouse/factory in Victoria's Sunshine North is up for sale through Raine &amp; Horne with price expectations exceeding $410,000.
The 47 Maida Avenue facility is zoned Industrial 3 and has a building area of 261 sqm.
It is securely leased for a three-year term from 2015 with options for two more similiar extensions. The property returns $22,713.60 per annum net.
The facility comprises an office and kitchenette with 6 m clearspan warehouse springing height.
It is close to Bunnings and Sunshine Shopping Centre.
The listing agent is Tim Frlan.
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Affordable warehouse on the market via Raine & Horne in Victoria's Sunshine North

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Over the month there were $32.3 billion in housing finance commitments which is 1.0 percent higher over the past month. 
Although the value of housing finance commitments increased in May 2016, they are now -4.6 percent lower than their August 2015 peak of $33.8 billion worth of commitments. 
The CoreLogic Mortgage Index, which tracks 95 percent of national valuation activity, indicates that in June 2016 the level of mortgage activity is set to slow from May, pointing to a slowing of housing finance demand.
<a href="/images/2016/07/18/Chart-1-580x210.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/07/18/Chart-1-580x210.jpg" alt="">
<div class="entry">
 
In May 2016 there were $20.5 billion worth of owner occupier housing finance commitments and $11.7 billion worth of investment commitments.  Owner occupier commitments fell by -0.6 percent over the month but were 15.4 percent higher year-on-year.  Conversely, investor housing finance commitments increased by 3.9 percent over the month and are -13.3 percent lower year-on-year.
<a href="/images/2016/07/18/Chart-2-1-580x210.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/07/18/Chart-2-1-580x210.jpg" alt="">
The $20.5 billion in housing finance commitments by owner occupiers was both lower over the month and -4.9 percent lower than the December 2016 peak of $21.6 billion worth of commitments.  Across the components of owner occupier housing finance commitments there was $1.8 billion in commitments for construction of dwellings, $1.0 billion for purchase of new dwellings, $7.0 billion for refinances of established dwellings and $10.7 billion for purchase of established dwellings. 
Each segment of owner occupier mortgage lending except for purchase of established dwellings fell over the month with each segment now also lower than the recent peak.  The respective declines are recorded at -3.8 percent for construction of dwellings, -27.0 percent for purchase of new dwellings, -5.9 percent for refinancing of established dwellings and -5.6 percent for purchase of established dwellings.
<a href="/images/2016/07/18/Chart-3-1-580x212.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/07/18/Chart-3-1-580x212.jpg" alt="">
There was $11.7 billion worth of investment housing finance commitments in May 2016 which is -18.2 percent lower than its $14.4 million peak in April 2015.  Looking at the components, there was $1.2 billion worth of commitments for construction of dwellings and $10.5 billion in commitments for established housing.  The value of commitments for construction of dwellings was 15.5 percent higher over the month and 22.4 percent higher year-on-year.  Meanwhile, the value of commitments for established housing was 2.7 percent higher over the month and -16.1 percent lower year-on-year. 
Since mortgage lenders began to implement investment lending changes to slow annual investment credit growth below 10% there has been a significant slowing in lending to this segment.
The May 2016 housing credit data from the Reserve Bank (RBA) shows that investment credit has advanced 6.0% which is its slowest annual increase since July 2013 and well below 10% annually.  Perhaps this is why investor lending picked up in May with mortgage lenders now having more scope to lend to investors.
<a href="/images/2016/07/18/Chart-4-1-580x214.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/07/18/Chart-4-1-580x214.jpg" alt="">
Looking at the value of new lending (excluding refinances) for new housing and established housing shows that in May 2016, $4.0 billion was for new housing and $21.3 billion was for existing housing.  Based on this data, 15.9 percent of total lending over the month was for new housing with the remaining 84.1 percent for established housing. 
Of this $4.0 billion in lending for new housing, $1.2 billion or 30.6 percent was lending for investment purposes with the remaining $2.8 billion or 69.4% of lending for owner occupation purposes. Of the 84.1 percent of new lending for established housing, $10.7 billion or 50.5 percent was borrowing by owner occupiers with the remaining $10.5 billion or 49.5% borrowed for investment purposes. 
The data shows that much more lending is for established housing which makes sense when you consider the flow of new housing, despite being at record highs, is only a fraction of the total housing stock.
Despite low interest rates that are anticipated to go lower over the coming months it is difficult to imagine how growth in housing finance commitments will experience a significant uplift. Investor demand may pick up a little but historically weak rental growth and record low rental yields along with a surge in new investment housing stock should limit any uplift. 
This should also contribute to a slowing in value growth in Sydney and Melbourne and although other areas may see a pick-up in mortgage demand, much lower home values in those regions will likely limit any significant pick-up in housing finance commitments.
</div>
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ckusher-ujnxiKuFQs

Investor housing finance commitments bounce in May 2016: Cameron Kusher

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<div id="post-body-3241568079110976919" class="post-body entry-content">
<div>Australia's construction boom hit "peak apartments" in the March 2016 quarter the latest Building Activity data from the ABS showed, with developers now beginning to crunch their way through the record number of dwellings approved but not yet commenced. </div>
 <div class="separator"><a href="/images/2016/07/18/A1.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"><img src="/images/2016/07/18/A1.jpg" alt=""></div>
<div> </div>
<div>Total quarterly commencements accordingly rose to a record high of 59,684. Attached dwelling commencements - townhouses, units, and apartments - were up by 21 per cent from the first quarter of calendar year 2015, leading to just shy of 230,000 dwellings commenced in the year to March 2016, also a record. <div class="separator"><a href="/images/2016/07/18/A1-1.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"><img src="/images/2016/07/18/A1-1.jpg" alt=""></div>
 As you can see in the chart above, annual house commencements have already passed their peak for this cycle, with Sydney in particular constructing fewer detached dwellings through the cycle as the harbour city becomes more dense - building up, not out - while on the other hand Melbourne continues its heroic sprawl.  </div>
<div> </div>
<a href="/images/2016/07/18/A6.jpg" target="_blank">Click to enlarge</a>
</div>
<div class="post-body entry-content">
<img src="/images/2016/07/18/A6.jpg" alt=""> <div>Annual attached dwelling commencements are now at their highest ever level.</div>
 <a href="/images/2016/07/18/A5.jpg" target="_blank">Click to enlarge</a>
</div>
<div class="post-body entry-content">
<img src="/images/2016/07/18/A5.jpg" alt=""> <div>Completions slower to come online</div>
<div> </div>
<div>The curious aspect of this cycle is that with so many of the commencements being multi-unit developments, the supply has been considerably slower to come online. Why? Because on average it's much faster to build a house on a shovel-ready block of greenfield land (perhaps only a few months) than it is to deliver a block of apartments on a brownfield site, which could chew up a period of several years from approval to completion.  The outcome of this is an epic supply bottleneck. Bottleneck! There are now more dwellings stuck in the "under construction" phase than we have ever witnessed before: a thunderous total of 218,262 dwellings, more than 150,000 of which are attached dwellings. If you can see a lot of cranes on the city horizon, this is why! 
</div>
<div>A record 74,530 of the dwelling units under construction are located in New South Wales (including more than 56,000 attached dwellings), 67,748 are in Victoria (nearly 48,000 of which are attached dwellings), and 39,816 are in Queensland (more than 31,000 of which are attached dwellings, an eye-popping ratio). In other words, lots and lots of apartment projects are underway but not yet finished.</div>
<div> </div>
<div>Indeed, completions have been so slow to come online that actual dwelling completions have declined for the past four quarters on the bounce, from 49,733 in the first quarter of last calendar year to just 45,619 in the first quarter of this year.</div>
 <div class="separator"><a href="/images/2016/07/18/A2.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"><img src="/images/2016/07/18/A2.jpg" alt=""></div>
 <div>This huge lag between record approvals and completion helps to explain why super-strong population growth in the two most populous capital cities has to date continued to outpace and absorb dwelling supply. </div>
<div> </div>
<div>Annual attached dwelling completions in NSW (22,400) and VIC (23,000) not only remain below previous peaks, but are also tracking way behind the romping pace of state population growth of 106,000 and 109,000 per annum respectively.</div>
<div> </div>
<div class="separator"><a href="/images/2016/07/18/A3.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"><img src="/images/2016/07/18/A3.jpg" alt=""></div>
 <div>
The Australian recently reported an estimated year's oversupply of dwelling based upon an assumption of 47,000 net additions to the dwelling stock per quarter. </div>
<div> </div>
<div>Yet reported vacancy rates in Sydney and Melbourne - even if the figures are arguably incomplete - have actually declined, the slowdown in rental price growth as much reflective of the number of investors in the market through this cycle as the number of physical dwellings. Because the record high volume of units and apartments under construction are slower to come online than houses, the assumptions reported by The Australian have been over-egged when compared to the number of actual completions by some 85,000 dwellings. </div>
 <div class="separator"><a href="/images/2016/07/18/A4.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"><img src="/images/2016/07/18/A4.jpg" alt=""></div>
<div> </div>
<div class="separator"> </div>
<div class="separator">Moreover these assumptions overlook that up to 25,000 commencements per annum simply replace existing stock, as pointed out by the good Prof. Philips of the ANU.</div>
<div class="separator"> </div>
<div class="separator"><a href="/images/2016/07/18/PHILLIPS.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"><img src="/images/2016/07/18/PHILLIPS.jpg" alt=""></div>
<div class="separator"> </div>
<div class="separator">The picture is complicated somewhat further by the addition of granny flats which are not well captured by the data, but after accounting for demolitions the new supply has so far had a relatively muted impact in Sydney and Melbourne.</div>
<div class="separator"> </div>
<div>What has transpired to date is localised bursts of oversupply, not nothing too dramatic at the macro level.</div>
<div class="separator"> </div>
<div class="separator">The wrap</div>
<div class="separator"> </div>
<div class="separator">There are more than 150,000 units, townhouses, and apartments now under construction in Australia, easily the highest figure on record, so construction activity will remain at or close to full capacity for some time yet. </div>
<div class="separator"> </div>
<div class="separator">Attached dwellings can take a long period of time to complete, so to date at least the impact of new supply hasn't been all that great. </div>
<div class="separator"> </div>
<div class="separator">But what is Australia going to do with all these new high-rise dwellings during a period when its post mining-boom economy isn't supporting such high levels of immigration? </div>
<div class="separator"> </div>
<div class="separator">Mr. Turnbull does have a plan. And like most of Australia's cunning plans these days, it involves tapping demand from China. </div>
<div class="separator"> </div>
<div class="separator">It's only been a fortnight since the new "streamlined" student visa rules kicked in, but early anecdotal indications suggest that the plan might just be working. </div>
<div class="separator"> </div>
<div class="separator"><a href="/images/2016/07/18/VISAS.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"><img src="/images/2016/07/18/VISAS.jpg" alt=""></div>
<div> </div>
<div>
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>. 
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.
</div>
</div>
<div class="post-footer"> </div>
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pwargent-M4siyDbqQY

Making sense of Australia's super-duper construction boom: Pete Wargent

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Owner occupiers are capitalising on favourable lending conditions, with a flurry of industrial transactions in Brisbane.
The most recent was the sale of a light industrial site at 18 Raynham Street in Salisbury at auction for $2.1 million.
Western Australian-based Ampac Developments Pty Ltd snapped up the 4,047 sqm warehouse property.
Selling agent CBRE’s Sam Higgins, who brokered the deal along with Jack Pershouse, said the low interest rate environment was fuelling investor appetites.
“Auction bidders are comparing the rent they are paying with the loan repayments - and with fixed interest loans at under 6%, many companies are able to buy a building for 20% less than what they paying in rent costs,” Higgins said.
“With interest rates at 50-year lows, we are seeing strong demand for vacant buildings in the established suburbs of Rocklea, Acacia Ridge and Salisbury.”
Meanwhile, an industrial warehouse property at 29 Meadows Street in Coopers Plain also recently sold for $1.5 million at auction.
Located on a 4,022 sqm site, the property comprises a 1,300 sqm building and a hardstand area of nearly 2,500 sqm.
The purchaser was companies associated with the Hume family.
Pershouse said the market was gaining momentum, with a steady pipeline of transactions on the horizon.
“We are continuing to see an upturn in sales in the $1.5 million - $3 million sector of the market, while leasing transactions have also improved, particularly in the $80,000 - $130,000 net per annum range,” Pershouse added.
“Many investors are favouring industrial over residential property as the yields are net of 6% or better compared with residential returns which have been lower.”
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jonathanchancellor-7SQnKwU6yx

Low interest rates fuelling industrial deals in Brisbane

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Half-a-million dollars can still buy you two-bedroom dwellings in Sydney’s southern suburbs, according to property valuation firm Herron Todd White’s residential market report for July, despite the median dwelling price of $782,000 (CoreLogic, May 2016).
In the St George district in south Sydney, nearly 10 kilometres to the south of the CBD, $500,000 will enable the buyer to extend their options. 
Modest, original, older style 1960s to 1970s two-bedroom units with parking around Bexley, Rockdale and Kogarah will achieve average rental returns of $350 to $400 per week. With vacancy rates low and steady demand at this rental band, there are good investment opportunities available to those with the patience to seek them out. 
Within the Sutherland Shire, the buyer may need to extend to $550,000 as this price point will only stretch as far as an older style 1970s to 1980s one-bedroom unit of around 50 to 60 square metres near to the beach in Cronulla. A property on Elouera Road, Cronulla, sold in May for $530,000 and is described as a 1960s one-bedroom, one-bathroom unit within a renovated complex with an open car space. Renovated internally with a modern kitchen and bathroom it included a small balcony and detached store room. Expected rental return is approximately $400 per week. 
On the western fringe of the Shire region towards Sutherland, Kirrawee, Gymea and Miranda, entry level two-bedroom units are pushing towards the early to mid $500,000s. With many new developments planned along with a refurbishment of Kirrawee Village including a new shopping centre and hotel, demand for units in this area has been strong this past 12 months. A recent May sale in Auburn Street, Sutherland, for $502,500 is typical of the area. Described as an original 1970s two-bedroom, one-bathroom unit with single garage in an elevated ground floor position, the property has an expected rental of $400 per week. 
There is a level of caution in the market regarding the outcome of the upcoming federal election in early July. 
“We believe capital gain in 2016 will be slower than previous years although we confirm there has been solid price growth in this value band across the metropolitan area due to overall supply and demand from both investors and entry-level owner occupiers. A key issue yet to be resolved is the government’s proposal for negative gearing changes for investors and what the impact of that will be on the local market. Foreign investors are also likely to be hit with new State stamp duty and land tax charges applicable on purchasing property and the impact of that cannot be assessed until details are confirmed," says the report.
“Last year we touched on a few of the suburbs mentioned above which saw good growth over the past 12 months with a slight adjustment to the end of 2015. With strong rental yields they are still a great investment to add to your portfolio."
Property Observer found a two-bedroom unit at <a href="https://www.realestate.com.au/property-unit-nsw-kogarah-121738354" target="_blank">19/14 French Street Kogarah NSW 2217</a> that sold recently for exactly $500,000.
 
 
 
 
 
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Sydney's south offers entry-level two-bedroom units for $500,000: HTW 

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<div class="page" title="Page 24">
<div class="section">
<div class="layoutArea">
<div class="column">
Investors or first-home buyers can still find dwellings around $500,000 in Sydney if they venture a little further from the CBD area, according to valuation firm Herron Todd White’s residential property market report for July.
Two such areas are East Sydney and the Inner West.  
</div>
</div>
</div>
</div>
East
After strong growth over the past 18 months, there is little property in the eastern suburbs that can be found in the $500,000 price range other than small studios within the CBD and smaller one-bedroom units around the city fringe suburbs of Potts Point, Chippendale, Elizabeth Bay and Surry Hills, according to HTW's property report.
With low vacancy rates and strong yields, they still represent good investments with rental yields on average around 5%. 
As an example, an art deco style studio unit with no car accommodation, updated kitchen and bathroom, timber flooring and combined living/ bedroom with a rental estimate of $450 per week, sold in Greenknowe Avenue, Elizabeth Bay in May 2016 for $452,000. 
Property Observer found another sale in nearby Potts Point — a studio at <a href="https://www.realestate.com.au/property-studio-nsw-potts+point-122657674" target="_blank">6/16 Macleay Street</a> for $450,000.
Inner West 
Similar to the eastern suburbs, this price point is limited to studio, one-bedroom units and very modest older style two-bedroom units with no car accommodation, according to HTW.
A semi-modern studio unit on Parramatta Road, Camperdown with car space and currently rented for $425 per week sold in May 2016 for $490,000. 
Following the railway line, Ashfield, Summer Hill and Haberfield have old style one-bedroom, one-bathroom units that are near to the $500,000 range and still providing good rental returns and low vacancy rates with the opportunity for capital appreciation if the purchaser has access to funds to fully renovate in the future.
Property Observer found a one-bedroom apartment at <a href="https://www.realestate.com.au/property-unit-nsw-ashfield-122830018" target="_blank">2/74 Alt Street Ashfield NSW 2131</a> for $472,000, according to CoreLogic RP Data.
 
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Good yields characterise cheap units in eastern and Inner West Sydney: HTW  

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Lenders are flooding the home loans market with enticing honeymoon rate deals, which revert to much higher rates once the introductory period expires.
New data from RateCity.com.au shows there are more than two dozen lenders, and 71 variable home loan products, offering an introductory deal with some as low as 3.29 per cent for a six-month period before reverting to 4.79 per cent.
On a $500,000 30-year home loan this could result in monthly mortgage repayments being an extra $227, and over the life of the loan it could cost an extra $79,219 compared with a product offering a continuous rate of 4 per cent.
Peter Arnold, data insights director at RateCity.com.au, urged borrowers against being lured into these expensive products.
“These deals are basically a marketing ploy to get customers sucked into a longer-term deal,” he said.
“It’s also a trap for first homebuyers who are looking to get into the market desperately and aren’t thinking long term.
The majority of intro offers also charge high discharge fees to close the loan.
“There are 48 lenders currently offering ongoing variable rates under 4 per cent, and as low as 3.59 per cent,” he said. 
How a $500,00 intro deal stacks up over 30 years
 
<table class="x_MsoNormalTable" style="width: 539px; height: 96px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" nowrap width="280">
 
</td>
<td width="115">
Variable - low ongoing rate
</td>
<td width="110">
Variable - introductory rate
</td>
<td width="110">
difference
</td>
</tr>
<tr>
<td nowrap width="280">
rate (first 6 months)
</td>
<td nowrap width="115">
4.00%
</td>
<td nowrap width="110">
3.29%
</td>
<td nowrap width="110">
-0.71%
</td>
</tr>
<tr>
<td nowrap width="280">
Monthly repayment (first 6 months)
</td>
<td nowrap width="115">
$2,387
</td>
<td nowrap width="110">
         $2,187
</td>
<td nowrap width="110">
-$200
</td>
</tr>
<tr>
<td nowrap width="280">
rate (second 6 months +)
</td>
<td nowrap width="115">
                4.00%
</td>
<td nowrap width="110">
4.79%
</td>
<td nowrap width="110">
0.79%
</td>
</tr>
<tr>
<td nowrap width="280">
Monthly repayment (second 6 months +)
</td>
<td nowrap width="115">
$2,387
</td>
<td nowrap width="110">
             $2,614
</td>
<td nowrap width="110">
$227
</td>
</tr>
<tr>
<td nowrap width="280">
Total cost over 30 years
</td>
<td nowrap width="115">
$859,348
</td>
<td nowrap width="110">
 $938,567
</td>
<td nowrap width="110">
$79,219
</td>
</tr>
</tbody></table>
 
How a $300,00 intro deal stacks up over 30 years
 
<table class="x_MsoNormalTable" style="width: 556px; height: 55px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" nowrap width="280">
 
</td>
<td width="115">
Variable - low ongoing rate
</td>
<td width="110">
Variable - introductory rate
</td>
<td width="110">
difference
</td>
</tr>
<tr>
<td nowrap width="280">
rate (first 6 months)
</td>
<td nowrap width="115">
4.00%
</td>
<td nowrap width="110">
3.29%
</td>
<td nowrap width="110">
-0.71%
</td>
</tr>
<tr>
<td nowrap width="280">
Monthly repayment (first 6 months)
</td>
<td nowrap width="115">
$1,432
</td>
<td nowrap width="110">
         $1,312
</td>
<td nowrap width="110">
-$120
</td>
</tr>
<tr>
<td nowrap width="280">
rate (second 6 months +)
</td>
<td nowrap width="115">
                4.00%
</td>
<td nowrap width="110">
4.79%
</td>
<td nowrap width="110">
0.79%
</td>
</tr>
<tr>
<td nowrap width="280">
Monthly repayment (second 6 months +)
</td>
<td nowrap width="115">
$1,432
</td>
<td nowrap width="110">
             $1,568
</td>
<td nowrap width="110">
$136
</td>
</tr>
<tr>
<td nowrap width="280">
Total cost over 30 years
</td>
<td nowrap width="115">
$515,609
</td>
<td nowrap width="110">
 $563,140
</td>
<td nowrap width="110">
 $47,531
</td>
</tr>
</tbody></table>
 
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jchancellor-FAypfDUnLy

Caution urged with honeymoon rates for first home buyers

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Brisbane is the “good husband of capital-city property” – solid, safe, reliable but fairly unexciting – it has generally failed to fire at the level expected by most since 2012, say property valuation firm Herron Todd White in their July residential market report. 
The problem appears to be a continued lack of confidence with the deflation of the Queensland mining boom casting a grey fiscal pallor across the capital city. Employment is still reasonably soft and our really hot, hot, hot property years have always come on the back of increased interstate migration – and that’s still refusing to take off. 
For this reason, last year’s choices of property at the $500,000 price point are still applicable in many instances today, and worthy of consideration once more, say HTW in their report. 
Of course, while this says the market has been at, there’s a silver lining amongst these musings – it’s that Brisbane’s CBD-accessible suburbs remain relatively affordable. 
"For Brisbanites, anything outside the 10 kilometre radius is a bit of a trek into town, but of course spend a few years in Sydney (or London or Tokyo or any other international city), and you begin to get the idea that 10 kilometres is actually less than a serious jog for a fun runner. Of course, heading up to 15 kilometres breaks open the affordability, while only adding a touch more driving for the commuter," it says.
For dwellings outside 14 kilometres of the CBD, Algester has been one suburb that’s seen more interest in recent times partly due to the flow on from increased prices in Sunnybank Hills and Runcorn in the past 12 months. Algester also sits reasonably close to our pick suburbs from last year’s Lazy $500,000 issue – Eight Mile Plains and Runcorn. 
On the north side last year, we picked Brighton, Sandgate, Deagon, Boondall, Taigum and Bracken Ridge to find the sub-$500,000 stuff and a keen eye could still find detached housing options in this bracket and at these addresses. 
On the bayside, suburbs such as Redland Bay are still sub-$500,000 and there is a good level of interest, which bodes well for the medium term. 
Looking further afield in the south and suburbs like Marsden, Woodridge and Logan offer heaps of value with plenty of property around $300,000. These suburbs continue to appeal to investors at present given rents for highset three-bedroom, one-bathroom homes are approximately $360 per week at this price point – so yields are healthy. 
“Older style two-bedroom, one-bathroom units in Greenslopes and Coorparoo are still below $500,000 – actually most are closer to the $400,000 mark. This isn’t much of a change from last year when we were saying the same product could be found in the high $300,000s.
“So if you’d followed our call from last year, you’d have made a few thousand dollars in equity and still have the prospect of more growth in the medium term.” 
These suburbs appeal with good facilities and reasonable access to the CBD, although rental yields are starting to tighten and may continue to do so – particularly with Coorparoo Square due for completion in the next 12 months. 
“Last year, we were warning investors in our loudest possible voice to be extremely cautious of off-the-plan unit stock – and we’ve been proved correct. We continue to say that it’s a brave investor who takes a punt on this sector at present in oversupplied suburbs.”
Property Observer found a recently sold four-bedroom house at <a href="https://www.realestate.com.au/property-house-qld-algester-121998750" target="_blank">18 Mt Flinders Place, Algester, Qld 4115</a> for $499,000.
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