<p><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.</p>

<p>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.</p>

<p>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.</p>

<p>Across the three towers, SP Setia is proposing 606 build-to-sell apartments and 1,499 student accommodation units containing 2,009 beds.</p>

<p>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.</p>

<p>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</p>

<p><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" /></p>

<p>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.</p>

<p>But one of the biggest components of the proposal is what sits between the buildings.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>The proposal is being pursued through the Victorian Government's Development Facilitation Program under Clause 53.23 for significant residential development with affordable housing.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>SP Setia plans to deliver the development across three stages.</p>

<p>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.</p>

<p>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.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>


Joel Robinson

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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>“This is a deliberately very different proposition for us,"&nbsp;Tim Lowe, Co-Founder of Lowe Living, said.</p>

<p>"Eight residences is exceptionally boutique, but that's precisely what this site calls for.</p>

<p>“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.”</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>Heritage has subsequently played a significant role in Cera Stribley's design.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>Rather than presenting as a single five-storey building to Erskine Street, Cera Stribley has broken the development into a series of distinct forms.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>


Lowe Living unveils Middle Park apartment development

<p data-end="288" data-start="269"><strong data-end="288" data-start="269">Article summary</strong></p>

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289"><strong data-end="374" data-start="291">DVB Projects is preparing to launch its second Gold Coast apartment development</strong>, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443"><strong data-end="513" data-start="445">The 34-level tower will comprise just 49 ultra-luxury residences</strong>, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574"><strong data-end="646" data-start="576">The launch follows strong demand at DVB's nearby Sea Glass project</strong>, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718"><strong data-end="787" data-start="720">The development adds to the transformation of Old Burleigh Road</strong>, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<p data-end="1011" data-start="790"><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.</p>

<p data-end="1296" data-start="1013">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</p>

<p data-end="1296" data-start="1013"><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" /></p>

<p>The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.</p>

<p>“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;</p>

<p>“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."</p>

<p>Brown says the site itself is "exceptional."</p>

<p>"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.”</p>

<p><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." /></p>

<p>The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.</p>

<p>A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>“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.</p>

<p>“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.</p>

<p>“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.”</p>

<p><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" /></p>

<p>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.</p>

<p>With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.</p>

<p>[smartcode_project_cta:default project_id=145141]</p>


DVB Projects to launch second Broadbeach apartment tower as demolition commences

<p><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.</p>

<p>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>.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>"A strong landscape and public realm strategy underpins the proposal," Urbis states in the planning report.</p>

<p>"Public benefits include an affordable housing contribution, a new pocket park, generous landscaped setbacks, deep soil planting and integrated Water Sensitive Urban Design."</p>

<p>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."</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>


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

<p><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;</p>

<p>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.</p>

<p>[smartcode_project:default project_id=107520 project_image_fid=367193]</p>

<p>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;</p>

<p>Gardner Vaughan Group Chief Executive Officer Simon Betteridge said Bronze on Chevron represented an exciting new chapter for the business.&nbsp;</p>

<p>"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.</p>

<p>"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."</p>

<p>[smartcode_project:default project_id=107520 project_image_fid=367183]</p>

<p>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;</p>

<p>"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;</p>

<p>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.</p>

<p>The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029.&nbsp;</p>

<p>[smartcode_project_cta:default project_id=107520]</p>


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

<p>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.</p>

<p>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;</p>

<p>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.</p>

<p>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.</p>

<p>Even in the low seasons of May and June, occupancy levels reach around 40 per cent.</p>

<p><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" /></p>

<p>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</p>

<p>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.</p>

<p><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" /></p>

<p>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.<span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><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" /></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span><span><span><span><span><span><span>​</span></span></span></span></span></span></p>

<p>The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;</p>

<p>Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.</p>

<p>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;</p>

<p>Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.</p>


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

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<p><span>Upward momentum in the retail market is underpinning a tranche of new store openings across the east coast, according to CBRE.</span></p>
<p><span>CBRE's head of retail brokerage leasing Australia, Leif Olson, said improved consumer sentiment levels were underpinning the growth, with Australian brands seeking to expand their footprint in Sydney and Melbourne’s fashion hot spots.</span></p>
<p>High-end menswear label <a href="https://twitter.com/MJBale" target="_blank">MJ Bale</a> is the latest such Australian retailer, with a recently-opened flagship store in Sydney's Martin Place.</p>
<p><span>“MJ Bale’s new store opening highlights continued momentum in the retail market and the confidence this is providing Australian retailers to capitalise on the recent business upturn,” Olson said.</span></p>
<p><span>“Located in the heart of Sydney’s business district, Martin Place is fast becoming one of Australia’s premier fashion hubs, soon to be synonymous with names such as Rimowa, Kit &amp; Ace and COS.”</span></p>
<p><span>Totaling 120 square metre, MJ Bale’s store at 14 Martin Place features a new fitout and design, while maintaining the heritage feel of the iconic sandstone building.</span></p>
<p><span>The latest MJ Bale store opening comes after the retailer recently expanded its footprint in Melbourne through CBRE, opening a 120 square metre outlet at 500 Collins Street.</span></p>
<p><span>Another store spanning 131 square metres at St Collins Lane is expected to open in 2016.</span></p>
<p><span>“Over the past 18 months, a flood of new entrants have secured a presence in the Melbourne CBD, which is evidence of its growing appeal at a local and international level,” said Melbourne CBRE leasing agent Zelman Ainsworth.</span></p>
<p><span>At St Collins Lane, MJ Bale will neighbour a number of international brands, including Coach, Tag, Furla, Sandro, Maje and Reiss. </span></p>
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j.ballantyne1990-6AQqhLzZaK

Australian retailer MJ Bale widens footprint across east coast

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<div>Residential land values soared by more than $1 trillion dollars in Australia over the three years to June, and by more than half a trillion dollars (+15%) in the last year alone. </div>
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<div><span>Since 1989 the total value of land in Australia has surged by well over $4 trillion, with residential use accounting for nearly $3.5 trillion or more than 85 per cent of the increase.</span></div>
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<div><a href="/images/2015/11/24/Land.jpg" target="_blank"><span>Click to enlarge</span></a></div>
<div><span><img src="/images/2015/11/24/Land.jpg" alt=""></span></div>
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<div><span>Since dwelling prices over the long run are ultimately a derivative of the land value which sits underneath, I always recommend capital city properties as those with the greatest potential for price growth.</span></div>
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<div><span>Particularly I look at those located within easy commuting distance of the Central Business District and with a high percentage land value content, which typically means steering well clear of high rise tower blocks.</span></div>
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<div><span>Since 2012, the biggest paper gains for property speculators have been seen in Sydney, with the total value of residential land in New South Wales spiralling by more than 53% in just three financial years. </span></div>
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<div><span>Victoria has also seen land values increase by 35% over the same time period, with broadly similar gains in land values across the next three most populous states in the 20 -22% range.</span></div>
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<div><span>Of course, population growth accounts for some of the increase in residential land values, and so too does the prosperity of the local economy, the lower cost of capital, and the relative scarcity or availability of the land in question. </span></div>
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<p><span><em>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>.</em><br></span></p>
<p><em>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>.</em></p>
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Residential land values soar: Pete Wargent

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<p>The standout feature of Domain’s Top 10 prestige beach suburbs list is the remarkably poor performance on capital growth.</p>
<p><span style="line-height: 1.3em;">The best of them wouldn’t make the Top 10 list for capital growth rates in Melbourne, Perth, Darwin, Sydney or Brisbane – nor the Top 25 list of best performers in regional Australia. </span></p>
<p>One of the so-called Top 10, Noosa, has recorded zero growth over 10 years. This helps to confirm our ranking of Noosa as Australia’s biggest real estate lemon.</p>
<p><span style="line-height: 1.3em;">The Domain list of Top 10 prestige beach suburbs continues a grand tradition of Australian media publishing real estate lists that are pointless, inaccurate or farcical.</span></p>
<p><span style="line-height: 1.3em;">It says something about the mediocre performance of these apparently prestigious beachside locations that one of the Top 10 has recorded no growth at all over the past decade. </span></p>
<p><span style="line-height: 1.3em;">It’s the antithesis of investment, which is meant to be about achieving growth. The only thing of value to owners in many of these ritzy locations is the ego trip. Beyond that, they’re crying all the way to the bank.</span></p>
<p><span style="line-height: 1.3em;">These locations, which include Brighton in Melbourne, Bronte in Sydney and Cottesloe in Perth, have all the qualities that many people imagine would make them out-performers on capital growth: great beaches, quality restaurants, wonderful amenities and top quality homes. </span></p>
<p><span style="line-height: 1.3em;">Many investors would rue their inability to afford to buy there and grow their wealth. But they need not concern themselves: there’s better capital growth in the middle market areas and the downmarket suburbs, which dominate the Top 10 growth lists in most of our major cities.</span></p>
<p>Remember that old real estate adage about property doubling in value every 10 years, which means a growth rate averaging better than 7% per year? It’s generally untrue. The best performers achieve it, but most properties do not. And certainly none of the Top 10 prestige beach suburbs have done so.</p>
<p><span style="line-height: 1.3em;">The No.1 ranked prestige beach suburb for capital growth, which apparently is Brighton in Melbourne, has managed growth averaging just 6.7% per year.</span></p>
<p>No.2 Portsea, also in Melbourne, recorded growth averaging only 5.55% per year. This is not a stellar performance, although the people who put together the list apparently thought it was.</p>
<p><span style="line-height: 1.3em;">Byron Bay, which according to Domain Group senior economist Andrew Wilson is “an exceptional market”, has averaged a mediocre 5.4% per year - a growth rate at which it would take over 13 years for values to double.</span></p>
<p>The bottom half the Top 10 list is made up of suburbs with growth rates that don’t even match inflation. </p>
<p>Main Beach on the Gold Coast has a growth rate of a little over 1% per year. Palm Beach in Sydney, where the median price is $2.7 million, has managed less than 1% per year.</p>
<p>To put these growth rates into perspective, the best suburbs in Darwin, Perth and Melbourne all have growth rates above 10% per year. The best in Sydney are above 9% per year.</p>
<p><span style="line-height: 1.3em;">And, outside the capital cities, the Top 25 regional centres all have growth rates of 10% per year or better, with the top four achieving 15%-plus. </span></p>
<p>If you’d bought the typical Palm Beach property 10 years ago, you would have paid around $2.46 million and managed capital gains of around $220,000 a decade later. In real terms, you lost money.</p>
<p>If you’d spent that $2.46 million in the best-performing suburbs in Perth, Darwin, Sydney and Melbourne (you could have bought multiple properties in multiple cities for that sum), your capital gain would have been $4.2 million.</p>
<p>Which would you rather have: the prestige - or $4.2 million?</p>
<p> </p>
<p><span style="line-height: 1.3em;"><em>Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a></em> </span></p>
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Poor capital growth performance for beach retreats: Terry Ryder

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<p><span>The number of homes taken to auction remains high, with 3,087 auctions held this week, down from 3,274 over the previous week, however, the preliminary clearance rate of 60.8% has fallen, down from 62.3% last week, mainly due to the drop in Melbourne’s clearance rate, which is currently sitting below 65%. Over the corresponding week last year, the clearance rate was a stronger 65.7% and 3,315 auctions were held.</span></p>
<p><a href="/images/2015/11/23/20151122-Capital-City.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/11/23/20151122-Capital-City.jpg" alt="" width="612" height="464"></span></p>
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<p><strong>Melbourne’s</strong><span> clearance rate remains under 70 per cent for the 5th week in a row, with this week’s preliminary clearance rate recorded at 64.7 per cent, down from 69.8 per cent last week, and weaker than the clearance rate for the city one year ago (66.1 per cent). This week, Melbourne was host to 1,477 auctions, lower than the 1,567 held last week, but higher than a year ago when there were 1,433 Melbourne auctions held over the week. Of the 9 individual Melbourne sub-regions, this week the strongest performer, in terms of clearance rate was the North East region. So far, CoreLogic RP Data has collected 153 results for the region and the preliminary result shows 71.9 per cent of these auctions were successful.</span></p>
<p><a href="/images/2015/11/23/20151122-Melbourne.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/11/23/20151122-Melbourne.jpg" alt="" width="670" height="450"></span></p>
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<p><span>Across </span><strong>Sydney</strong><strong>, </strong><span>the preliminary auction clearance rate was 59.3 per cent this week, the third week in a row where Sydney has recorded a result below 60 per cent. Last week, Sydney’s clearance rate was 58 per cent, the lowest clearance rate seen since the week ending 10 February 2013 (55 per cent); significantly lower than one year ago, where results show that 71.8 per cent of Sydney homes taken to auction were successful. In terms of the number of auctions across the city, this week volumes were lower, down to 1,080 from 1,223 last week. One year ago 1,337 Sydney homes were taken to auction. The Eastern suburbs sub-region of Sydney has shown the strongest performance so far this week, with 82.6 per cent of the 69 reported results selling, with 33 remaining results yet to be collected.</span></p>
<p><a href="/images/2015/11/23/20151122-Sydney.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/11/23/20151122-Sydney.jpg" alt="" width="667" height="448"></span></p>
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<p><span>The preliminary clearance rate in </span><strong>Brisbane</strong><span> this week was 43.6 per cent, up from 39.5 per cent over the previous week. Auction volumes were higher this week with 226 auctions held, up from 198 last week. Meanwhile, across the </span><strong>Gold Coast</strong><span>, 32 per cent of the 50 reported auctions were successful.</span></p>
<p><a href="/images/2015/11/23/20151122-Brisbane.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/11/23/20151122-Brisbane.jpg" alt="" width="690" height="458"></span></p>
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<p><strong>Adelaide</strong><span> recorded a clearance rate of 66.7 per cent across 141 auctions this week, up from 52.4 per cent across 121 auctions last week. At the same time last year, 147 homes were taken to auction, with 61.2 per cent recording a successful result.</span></p>
<p><a href="/images/2015/11/23/20151122-Adelaide1.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/11/23/20151122-Adelaide1.jpg" alt="" width="702" height="470"></span></p>
<p> </p>
<p>There were 39 <strong>Perth</strong> auctions this week and so far 22 results have been reported, with just 36.4 per cent selling. Last week there was a 44.4 per cent clearance rate for Perth across 39 auctions and at the same time last year, 38.3 per cent of the 55 auctions held were successful.</p>
<p><strong>Canberra’s</strong> clearance rate was 63.6 per cent this week across 111 auctions, compared to 63.2 per cent last week across 102 auctions.</p>
<p>Of the 5 <strong>Tasmanian</strong> auction results reported so far this week, 1 sale has been recorded.</p>
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Sydney’s clearance rate under 60% for the third week in a row: CoreLogic RP Data's Shana Miller

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<div>One of the occupational hazards of middle age is that from the mouths of babes can spout seemingly simple questions which are devilishly difficult to answer. </div>
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<div>This troublesome issue was highlighted in a wittily observed <em>Bigpond</em> advert a decade or so ago, in which a hapless father answers to his curious son that the Great Wall of China was built by "Emperor Nasi Goreng...to keep the rabbits out."</div>
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<div>The difficulty in answering an apparently straightforward question such as "how much money is there?" is twofold. Firstly, this is because the answer depends on what you mean by "money". And secondly since the money supply is a moving target, by the time you have scraped together a coherent answer more money will inevitably have been created. </div>
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<div><strong><span style="text-decoration: underline;">How much money is there?</span></strong></div>
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<div>For those of us with bank accounts today, generally we don't come in to direct physical contact with most of our money. Instead, we just see a number on a screen which changes daily.</div>
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<div>The latest figures from the Reserve Bank of Australia (RBA) showed that the total there is more than $65 billion of currency and $250 billion of current deposits - for a total of just over $315 billion which is represented by the green line in the chart below and known as the "M1" measure of the money supply in circulation.</div>
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<div>It's an arresting thought that in the years since I was born there is more than 30 times more M1 money knocking around in Australian circulation.</div>
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<div><a href="/images/2015/11/23/A1.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/11/23/A1.jpg" alt=""></div>
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<div>
<span>Of course, as the above chart shows, the green line is only a small and increasingly insignificant part of the money supply, partly because today most of us use alternative forms of payment, including credit cards and EFTPOS.</span><br><br><span>The red line in the chart above (known as "M3") - which includes term deposits, certificates of deposit, and various other deposits from building societies and credit unions with banks - totals well over $1.8 trillion, the dollar value of M3 money in circulation having increased by more than 45 times over the same time period.</span>
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<div><a href="/images/2015/11/23/A1-1.jpg" target="_blank"><span>Click to enlarge</span></a></div>
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<div>Adding the green shaded areas in the graphic above (currency and current deposits, or "M1") to the blue shaded areas (the aforementioned other deposits) gets us to "M3", while there is a broader measure of money still, which funnily enough is known as "broad money" - it includes certain other borrowings denoted by the red shaded area.<br><br>All up the money supply comprises $1.83 trillion of broad money in circulation.</div>
<br><strong><span style="text-decoration: underline;">Boiling frogs</span></strong><br><br><div>One thing that we all learn in childhood is that if something that a lot of people want is scarce, then it tends to go up in value. Unfortunately, however, the supply of money has been anything but scarce. </div>
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<br>While 6.3% growth in M3 money over the past 12 months (following on from 8% in the preceding year) may not sound like all that much, due to the power of compounding these cumulative increases in the money supply have snowballed into an enormous expansion.</div>
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<div>This, of course, is why folk have tended not to leave large sums of money in their bank accounts earning low returns for too long, and often instead aim to invest in inflation-busting businesses, "hard assets" with intrinsic value such as gold and silver, or well-located residential property with a high land value component. </div>
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<div>Over time we expect the price of quality assets in high demand to appreciate, while the value of any associated debt is surprisngly quickly inflated away. Only one decade ago the broadest monetary aggregate ("broad money") showed $784 billion of money supply in circulation, an amount which has comfortably doubled and then some to $1.83 trillion today.<br><br>Summarily there is well over double the amount of money chasing a limited supply of desirable assets. These figures are in themselves powerful enough, but in truth even the money supply in circulation represents only one part of the tale.</div>
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<strong><span style="text-decoration: underline;">Credit where it's due</span></strong><br><br><div>The other part of the story is that of "credit", being loans, advances and bills discounted to the private sector (but excluding loans made to other financial intermediaries).<br><br>Note in the chart below the massive surge in credit growth following the deregulation of the financial system in 1983 which lasted all the way through until the early 1990s "recession we had to have".</div>
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<div><a href="/images/2015/11/23/A3.jpg" target="_blank">Click to enlarge</a></div>
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<div><img src="/images/2015/11/23/A3.jpg" alt=""></div>
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<div>While there is not necessarily a link between the expansion of the broad money supply and growth in credit, the data over the long run suggests that a relationship between the two clearly exists, albeit a complex one.</div>
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<div>As explained by a Bank of England research paper last year, the way in which most money is created in a modern economy is through banks making loans. When a bank creates a loan, it also creates a deposit in the borrower's bank account (and in turn it follows that if a bank lends me money to buy your house, then that after the settlement you will have more money in the form of a deposit).</div>
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<div>Thus, contrary to what you might intuitively expect, deposits are not created by households saving income, but by banks creating money through loans, although of course there is ultimately a speed limit as to how much banks can lend.</div>
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<div><a href="/images/2015/11/20/A7.jpg" target="_blank">Click to enlarge</a></div>
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<div><img src="/images/2015/11/20/A7.jpg" alt=""></div>
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<div>The above chart shows what has happened to the amount of "narrow credit" (a measure which excludes securitisations) sloshing around Australia since 1976, which is to say that it has expanded at an even more furious pace from $36 billion to nearly $2.4 trillion, thereby increasing by an astonishing factor of more than 66 times. </div>
<br><div>While back in the year I was born housing accounted for only 24% of ourstanding credit (refer to the red shaded areas in the chart below), today that figure has expanded to 61%, with housing credit growth continuing to outpace the growth in lending to businesses.</div>
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<div><a href="/images/2015/11/23/A5.jpg" target="_blank">Click to enlarge</a></div>
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<div><img src="/images/2015/11/23/A5.jpg" alt=""></div>
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<div>
<div>There are a number of identifiable reasons for this trend, but probably the most significant of these is simply that banks love to lend against housing - for even if you default on a mortgage you cannot easily take the house with you, and in any case the land that it sits on isn't going anywhere.</div>
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<div>There have been many predictions of falling house prices over the last decade, but a bet against housing has essentially been a bet against the above chart, which shows that over the past ten years the stock of outstanding housing credit has more than doubled, from approximately $700 billion to $1.5 trillion.</div>
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<div>Of course, the price of all residential property has not increased as a result of this flood of credit. There is no scarcity of land in many mining regions, for example, and the demand for it has been declining in recent years, resulting in spectacularly crashing prices in many cases. Outer suburban Sydney property is now correcting sharply in some instances due to similar dynamics.<br><br>It would be true to say, however, that suburban land values in capital cites have generally been increasing strongly over time.</div>
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<div><strong><span style="text-decoration: underline;">The outlook for credit growth</span></strong></div>
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<div>Onthe subject of speed limits, the regulatory body APRA recently decreed that it would like to see lenders growing their investor mortgage books at a pace of no faster than 10 per cent per annum, and for this reason we can expect to see banks instead pushing products in their largest and most profitable market sector, being owner-occupier housing credit.</div>
<div> </div>
<div>The private sector credit figures arguably represent one of the more significant indicators of what is happening in the domestic economy, and for this reason I analyse the data on this blog at the end of each calendar month. </div>
<div> </div>
<div>As I looked at in more detail at the end of last month the series showed that while commodity prices may be tanking over the year to September annual business credit growth moved up to a 79 month high of 6.3%, while housing credit growth had also accelerated to a 60 month high of 7.5%.</div>
<div> </div>
<div>Now sure, 7.5% is certainly a lower level of growth for housing credit than we have seen in cycles past - mainly because we are starting from a higher base - yet if sustained it would be enough to more than double the stock of outstanding housing credit to beyond $3 trillion within the next decade, which is food for thought (gulp).</div>
<div> </div>
<div>Whether or not banks can continue to expand owner-occupier credit growth will be one of the key housing market narratives to watch over through 2016. I'll analyse all the key figures here, of course. </div>
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<div>
<p><span><em>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>.</em><br></span></p>
<p><em>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>.</em></p>
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How much money is there? Pete Wargent

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<p><span>Housing markets show different performances geographically as well as across product types and pricing points.  </span></p>
<p><span>Across the capital cities, a useful measure of capital gain across broad price points is our stratified hedonic index.  </span></p>
<p><span>The CoreLogic RP Data Stratified Hedonic Index looks at the movement in home values across three broad value based segments of the housing market.  The three segments are divided across quartiles and provide an insight about capital gains across the most affordable 25% of capital city suburbs, the middle 50% of capital city suburbs and the most expensive 25% of capital city suburbs.</span></p>
<p><a href="/images/2015/11/23/Chart-11.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/11/23/Chart-11.jpg" alt=""></span></p>
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<p><span>Over the 12 months to October 2015, dwelling values across the combined capital cities increased by 8.2% across the most affordable suburbs, 9.6% across the middle priced suburbs and 11.4% over the most expensive suburbs.  The trends are somewhat different over the past three months with the most affordable suburbs recording the strongest value rises.  </span></p>
<p><span>Over the period, the most affordable suburbs have seen values increased by 1.5% compared to 1.2% growth across the middle market and a 1.3% increase in values across the most expensive suburbs.  Over the current growth phase, which broadly commenced in June of 2012, combined capital city home values have increased by 26.5% across the most affordable quarter of capital city suburbs, by 32.4% across the ‘middle’ of the market and by 33.7% across the most expensive quarter of suburbs.</span></p>
<p><a href="/images/2015/11/23/Chart-21.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/11/23/Chart-21.jpg" alt=""></span></p>
<p> </p>
<p>Looking at the data across the five largest capital cities shows some quite different results.  Across the most affordable capital city suburbs, home value changes over the past year have been recorded at +14.3% in Sydney, +8.8% in Melbourne, +3.1% in Brisbane, +3.4% in Adelaide and -1.4% in Perth.</p>
<p>  Looking at the middle 50% of suburbs the value changes over the past year have been recorded at: +14.8% in Sydney, +11.2% in Melbourne, +4.6% in Brisbane, +2.6% in Adelaide and -2.9% in Perth.  Finally the most expensive quarter of the market recorded value changes over the past year of +17.1% in Sydney, +14.6% in Melbourne, +3.5% in Brisbane, +1.5% in Adelaide and -4.3% in Perth. </p>
<p>Based on these results you can see that it has been the most expensive suburbs recording the greatest value rises in Sydney and Melbourne with the most affordable suburbs recording the slowest rate of growth.  In Brisbane the middle market is seeing the greatest rise in values while the most affordable suburbs are seeing the slowest rate of growth. In Adelaide and Perth the best performed segment is the most affordable end of the market with the most expensive suburbs the weakest. Note that in Perth all three segments analysed have recorded value falls over the past year.</p>
<p>Focussing on quarterly data, the most affordable suburbs have been the strongest for growth in Melbourne, Adelaide in Perth. The middle market has recorded the strongest value growth over the quarter in Brisbane while in Sydney the most expensive suburbs have recorded the highest rate of value growth.</p>
<p>The differing performance of the segments provides a good insight into the current market dynamics as to where housing demand is strongest.  In Sydney and Melbourne it is typically higher priced stock, in Brisbane it is the middle market and in Adelaide and Perth demand is largely for more affordable housing stock. </p>
<p>As the rate of growth slows in Sydney and Melbourne we are likely to see the profile of where demand is strongest also change in those cities.  Furthermore, if Sydney and Melbourne buyers look to purchase in other cities they may be able to afford more expensive stock than the local buyers in Brisbane, Adelaide and Perth.  As a result we may see higher levels of value growth across the higher priced market segments.</p>
<p><span><em>Cameron Kusher is research analyst for CoreLogic RP Data. You can contact him <a href="https://blog.corelogic.com.au/author/cameron-kusher/" target="_blank">here</a>.</em></span></p>
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Different magnitudes of market value changes: Cameron Kusher

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<p>Sydney's iconic Oxford Hotel has sold for $34 million, following the hotel's earlier $4 million renovation.</p>
<p>The property, 195 Victoria Road in Drummoyne, sold through CBRE Hotels national director Daniel Dragicevich and JLL national director John Musca on behalf of Iris Capital.</p>
<p>It marks the second largest gaming transaction in Australia this year, one of inner west Sydney’s most popular venues, having recently undergone a $4 million revamp. </p>
<p>Owned by the Iris Capital Group, the property occupies a combined 974sqm site area with future height development potential and the scope for a rooftop bar with extensive city views.</p>
<p>The sale included 30 gaming machines, new beer garden and basement parking additions. </p>
<p>The sale comes after a busy year for Iris Capital Group, having divested interests in the Crest Hotel, Kings Cross and the Crown Hotel Parramatta to Chinese development group Greenland, who subsequently commenced sale programs for the residential redevelopments.</p>
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Oxford Hotel sells for circa $34 million

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<p><span>A leased industrial property north west of Melbourne's CBD on 201sqm has sold at auction for $789,000, $100,000 above reserve.</span></p>
<p><span>The property in Kensington, 22 Thompson Street, sold through Teska Carson's George Takis, who said  the single level, solid brick building of 180 square metres on a 210 square metre site is zoned Industrial 3, with frontages to Thompson Street, a right of carriageway to one sideand a rear laneway.</span></p>
<p><span>It was sold subject to a three year lease and further three year option at a rental of $19,422 per annum net.</span></p>
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Melbourne CBD fringe warehouse sells on 2.4% retail yield

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<div>The ABS released its Detailed Labour Force figures for October 2015 which provided further detail on the extraordinary rate of job gains in New South Wales, where employment has grown at an electric pace over the past year. </div>
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<div>Sydney recorded another strong month of gains and has created +85,000 positions over the year to October. Interestingly after a fairly dismal four years, the rest of the state has also created +51,000 new roles. </div>
<div> </div>
<div>Of Australia's other major labour markets Melbourne (+78,000) and lately the improving Greater Brisbane region (+43,000) have accounted for the bulk of new positions.</div>
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<div>By contrast over the past five years since October 2010 total employment in Adelaide has declined by 5,500.</div>
<br><strong><span style="text-decoration: underline;">Unemployment divergence</span></strong><br><br><div>Looking at capital city unemployment rates on a rolling annual basis shows that while unemployment rates are rising in Perth and Adelaide, elsewhere they have been declining.</div>
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<div>Sydney has been the king of employment gains in recent times, and as such recorded an unemployment rate for October of just 4.7 per cent across the Greater Sydney region.</div>
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<div>Over the past year some of the consistently lowest unemployment rates in Australia have been seen in Sydney's Northern Beaches (2.5 per cent), Eastern Suburbs (3.2 per cent), North Sydney &amp; Hornsby (3.7 per cent) and Inner West (4.3 per cent).</div>
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<div><span>At the other end of the scale the unemployment rate in Adelaide continues to trend up to well above 7 per cent, with further jobs losses subsequently reported in the month of November in the struggling state of South Australia.</span></div>
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<div>After a lift in unemployment as the resources capital expenditure boom passed its peak, Greater Brisbane has seen a pleasing improvement in its local economy.</div>
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<div>Employment gains have picked up to a solid pace and the rolling annual unemployment rate has trended down from 6.3 per cent to 5.9 per cent through this calendar year to date.</div>
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<strong><span style="text-decoration: underline;">Mining regions suffer</span></strong><br><em><br></em><em>Commsec</em> put out a usueful reseach note which reported that mining regions - and coal mining regions in particular - have suffered, with jobless rates in the Hunter Valley and Mackay having broadly doubled.<br><br>This in itself comes as no great surprise - I predicted as much here on this blog 14 months ago.<br><br>Other regions with elevated levels of unemployment have included Wide Bay, Logan-Beaudesert, Adelaide North, Townsville, and Cairns.<br><br>The news for regional Australia is far from all bad, however.</div>
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<br>While there is no doubt that many parts of regional Queensland are doing it very tough, there have been improvements in unemployment rates in the Wide Bay region, the Hunter Valley, Newcastle &amp; Lake Macquarie, and Geelong (and possibly several other regions, subject to the vagaries of sampling variability).<br><br>Indeed, after some ugly results early in the year the figures reported for regional unemployment have generally improved of late, so perhaps some of the mining fallout is now in the rear view mirror, as contractors migrate back to their respective capital cities.<br><br>That said, total regional employment growth outside New South Wales (and to some extent Queensland) has been weak, while new roles may also be lower paid than those which they replaced.</div>
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<p><span><em>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>.</em><br></span></p>
<p><em>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>.</em></p>
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Mining regions struggle: Pete Wargent

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<p>Last week one of my project managers used an interesting story to illustrate a point about being patient when developing property.   <span style="line-height: 1.3em;"> </span></p>
<p>Rich is a country lad brought up on a farm in rural NZ… no it wasn’t a sheep station. Lucky for me, he decided to ‘cross the ditch’ and settle in Australia to make his fortune in developing property in the Hunter Region of NSW. He was working with one of my builders when I discovered his expertise. It was some time later that we ended up working together. </p>
<p>The message from Rich’s story was simple – “Pushing too hard at the wrong time can cause problems rather than solutions.”  <span style="line-height: 1.3em;"> </span></p>
<p>The message came about whilst discussing how we could fast track lodgement of a particular Development Application.  As project managers I knew we were doing all we could.  I also knew that the other people involved; our builder and engineering consultants, were too.  We wanted to illustrate this to our client.  And then Rich sat down with a steaming cuppa in his hand and spun me a yarn.</p>
<p>I thought I’d share his tale because it made sense, even to a city gal like me.  Hope you enjoy it as much as I did...</p>
<p>Rich:  On the farm we never had a dog to move the cows into the milking shed. But our neighbours did and they were always in a hurry to get the milking done for the day. One day I asked Dad; “Why don’t we have a dog to chase the cows like our neighbours?” </p>
<p>He responded by saying, “Son, when a dog chases cows, by the time they arrive at the milking shed, they’re all nervous and tense because that dog has been snapping at their heels, barking and generally causing them grief. Because of this, those cows never milk for long and as a consequence, they don’t produce much milk.”</p>
<p>Rich explained that what those stressed out cows did was to produce a lot of crap. The cow manure mounted up quickly and ended up covering the shed while they stood waiting to be milked. <span style="line-height: 1.3em;"> </span></p>
<p>The neighbours with dogs always finished milking earlier than us, but spent more time cleaning up their milking shed at the end.  They produced very little milk. </p>
<p>When it was all washed up and done, we always finished around the same time as the neighbours. Although our cows milked longer, we had less to clean up and we always produced a lot more milk. </p>
<p>Relating this back to our property development situation, the bottom line was if we did things properly and not rush the procurement and planning stages of the process, the delivery and close out will move along smoothly and end up producing a better, more profitable ‘on time’ result. </p>
<p>My take out of Rich’s yarn: There are times for snappy dogs, but use them sparingly and intelligently. </p>
<p>Property Bloom understands the need for speed, as do our builders.  At the end of the day we all want to complete the project quickly.  But what we really want to ensure is a development that is well planned, delivered efficiently and on budget - and hopefully with very little crap to clean up at the end!</p>
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<p><em>Jo Chivers is chief executive officer of property development project managers <a href="https://www.propertybloom.com.au/about" target="_blank">Property Bloom</a>.</em></p>
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