<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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Last week, the combined capital city auction clearance rate increased slightly, up from 61.4% the previous week to 62.3%. 
Over the week there were 3,274 auctions held which was the second highest number of auctions over a week this year. CoreLogic RP Data captured results for 2,947 of these auctions which is a collection rate of 90%. 
The two major capital city markets of Sydney and Melbourne are both showing variations in their latest results. Last week Sydney had 1,223 total auctions compared to 1,567 auctions in Melbourne. Sydney’s clearance rate fell from 58.4% the previous week to 58.0% last week which was the cities lowest clearance rate since February 2013. 
While Sydney clearance rates fell, Melbourne’s clearance rate was recorded at 69.8% up from 69.0% the previous week, which is the highest clearance rate for the city in four weeks. 
For 10 consecutive weeks now Melbourne’s auction clearance rate has been higher than Sydney’s. Between 2010 and mid-2013, it was common for Melbourne’s clearance rate to outperform Sydney’s, however since that time, Sydney’s auction clearance rate has been consistently outperforming until recently. 
Auction activity across the capital cities is expected to fall this week with 3,171 auctions currently expected by CoreLogic RP Data, providing plenty of stock for buyers to choose from. Melbourne is expecting 1,518 residential auctions, which is greater than the 1,433 auctions held this week last year. In Sydney we are anticipating 1,130 auctions this week which is lower than both last week (1,248) and the same week last year (1,337). 
Brisbane is set for a busy week, with 214 auctions, compared to 198 last week, while in Adelaide (141 compared to 121) and Canberra (116 compared to 102) auction activity is also expected to be higher than last week. In Perth there is set to be little change in auction activity with 38 auctions scheduled this week compared to 39 last week. 
Melbourne’s busiest suburbs for auction this week are: Glen Waverley (29), Mount Waverley (29) and Reservoir (26). In Sydney, the busiest suburbs for auctions this week are: Chatswood (20), Marrickville (15) and Merrylands (13). 
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smiller-vwPjRHTkST

Auction volumes are set to ease a little this week: CoreLogic RP Data's Shana Miller

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Finance has always been a key of the housing market, and as we have seen over the past few years, low interest rates have helped drive record demand and activity.
While this is not the most glamorous or interesting topic, finance is still a dominant part of the market.
Just a few years ago the suggestion that we might see 3+% for some of our home loan rates may have been unlikely, still today it’s a reality. (There are advertised rates of between 3.69% and 3.89% available for terms of 1-3 years.)
We are now seeing finance again in the main spotlight and there’s a lot going on that buyers need to be aware of and all the constant news about rates may be creating some confusion. As a result buyers entering the market could well be facing a dilemma, because on the one hand we still have record low interest rates, but we are also seeing the major banks move in one direction while smaller lenders move in exactly the opposite direction.
We also have APRA taking a hardline with the banks, while the RBA considers its next interest rate move and all of this commotion will possibly affect anyone looking for a loan, and that includes investors, SMSF and all owner-occupiers including first time buyers. Concerns being expressed by APRA might be unsettling or even seen as a negative, and so possibly causes buyers to be more cautious.
Against this background a number of Colliers International’s clients have recently introduced a special deposit offer based around a select number of projects with those clients accepting a 5% deposit, rather than the usual 10%.
The projects covered by this offer are Bay Pavillions – Lane Cove, Imperial – Hurstville, Atmosphere – Castle Hill, Altitude – Blacktown, The Chelsea – Kensington and 88 Alfred Street – Milsons Point. The offer has been well received in particular among buyers trading an existing property, where the costs of a move do mount up.
It’s not always possible to find $200,000- $250,000 as a cash deposit on a $2m plus apartment, and so the ability to exchange contracts on a 5% deposit has proved a popular idea, and similar offers are set to become more common.
Small Lenders Cut Rates
While the big four banks have recently increased their home-loan rates, ten smaller lenders last week cut some of their rates.
The cuts are for 1-3 year fixed mortgages rates, with cuts up to 74 basis points. This means that the gap between the highest standard variable rate and lowest 1-year fixed term is 260 basis points. It’s easy to appreciate why this is important when securing a $1 million mortgage.
It’s reasonable to expect that these cuts might spread as competition between lenders increases and institutions look to keep their customers and attract new ones. This competition usually involves a basket of products such as insurance, but is good news for buyers.
Still it does cause some head scratching as buyers weigh up the loans on offer and if the market slows other non-lender incentives may start to emerge.
The cuts by the smaller lenders are also a bet that they expect the Reserve Bank of Australia will make more rate cuts, or at least hold steady. Still while the prospect of an official interest rise looks very remote for some time, further cuts are not assured, because we may well be at the low point of the rates cycle. It remains common sense however that anyone looking for finance should do a lot of research and shop around for the best rate and terms.
Big Banks In Step With Rate Increases
The big four banks have all increased mortgage rates while the Reserve Bank of Australia is still expected to cut the cash rate, although this may roll over until 2016. And so where do the different banks now stand with their home loan rates?
ANZ Banking Group has raised interest rates by 0.18% points, its standard variable rate for owner-occupiers is now 5.56%, and for property investors 5.83%.
Westpac has increased its variable rate by 0.2% points. Commonwealth Bank has made a 0.15% point increase and National Australia Bank a 0.17% point increase.
These increases, although very modest, appear to have had the immediate effect on borrowers making them think twice about locking-in interest rates. The reason is that with rates so low on a pro-rata basis a further cut or increase of say 25 base points would be either a blow or a bonus for anyone on a variable rate.
One side result of all this jumping about with rates is that all lenders are also promoting incentives aimed at getting customers to switch between lenders with various cash and rebate incentives on offer. Borrowers can of course have a bet each way and combine fixed and variable rate, and this does appear to be a trend.
SMSF and Investors Face Controls
Tied up in this interest rate mix APRA has instructed the banks to reduce their lending to investors and SMSFs.
This move has had an immediate impact on demand from these two groups, and in part also introduced the requirement for bigger deposits. This tightening of lending restrictions has also seen some of the banks pulling out of this sector.
These changes come at a time when according to the ATO over the past two years there has been a more than five-fold increase in SMSF debt to about $15.6 billion.
The SMSF sector is larger and is estimated to have total assets of $562 billion currently under management and so changes among this group has the potential to impact demand for investment properties.
APRA Keeping Watch
All four banks have each blamed the recent home loan increases outlined on APRA’s requirement for them to hold more capital to cover each bank’s mortgage loan books, which now form a big chunk of their loans, with the extra funds earmarked as a potential buffer against any future financial shocks.
Still it’s the customer facing higher charges and in the housing market that always appears to be the case, as is demonstrated time and again with stamp duty.
APRA’s sharper surveillance of bank lending follows many years when the RBA had ascribed a positive view of the conservatism of Australia’s big banks, that view may have been relevant at the time, but now with so much exposure to the housing market possibly not now.
The tightening of bank lending standards since the global financial crisis has improved the underlying muscle of their loan books. This is an important result if adverse economic circumstances were to creep upon us again.
However a tighter rein on lending and a competitive interest rate outlook looks set to deflate any prospect of a housing bubble, which as demand softens now appears improbable, and that has to be seen as a positive.
 
Peter Chittenden is managing director for residential of Colliers International. He can be contacted <a href="https://www.projectagenda.com.au/" target="_blank">here</a>.
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Finance back in the spotlight: Peter Chittenden

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SQM Research released its latest vacancies and asking rents figures up to October 2015, which showed vacancy rates steady across much of the east coast but rising in the resources capitals.    Reported vacancy rates were steady in Brisbane (2.6%) and Adelaide (1.9%), while Canberra (2.1%) saw a slight decline.   The vacancy rate in Sydney declined to 1.6%, which has been reflected in moderately rising asking rents for houses (+1.9%) and units (+3.1%) over the year, although the rents figures may mask divergent trends at the sub-regional level.   While both Melbourne (2.4%) and Hobart (1.1%) saw vacancy rates ticking up in October, over the past year both have recorded declines, and as such asking rents have been rising solidly in these cities too. 
Click to enlarge
<img src="/images/2015/11/18/Screen%20Shot%202015-11-19%20at%2010.43.38%20AM.png" alt="">
Resources woes
On the other hand vacancy rates rose further still in Perth (3.8%) and Darwin (3.5%).
Asking rents for houses in Darwin have tanked by more than 20% over the past year according to SQM, with Darwin set for a significant price correction.
Asking rents are down for houses in Perth too (-6.4%), albeit by a less dramatic margin.
Perth has reportedly seen the price of premium property fall sharply this year, although prices at the bottom end of the market have not shifted too much to date.
Perth will become an attractive buyers' market again in time, but most data - including the iron ore price which was walloped by another 4.5% overnight to be down by a stonking 76% since 2011 and 36% this calendar year alone - suggests that this time is not yet upon us!
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>.
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Vacancy rates a mixed bag: Pete Wargent

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Success in real estate belongs to the independent thinkers. And that means the select few.
The most predictable market intelligence of the past few weeks is that consumer sentiment about real estate has weakened.
Given the herd mentality in Australian real estate, and the absence of independent thought and action, I would expect sentiment to mirror media reporting trends. If media keeps reporting that “the Australian property boom” is over, I would expect a survey of public sentiment to reflect that.
And, lately, it has. According to the Westpac-Melbourne Institute Index of Consumer Sentiment, public opinion about whether it’s a good time to buy, and about price expectations, has weakened. This apparent dissipation of confidence has coincided with mainstream media deciding that the new core storyline is that the so-called national property boom is over.
What they really mean is that the Sydney boom is over and that is reflected in the generalised national figures much beloved by lazy journalists.
This new and recurrent theme in mainstream media is now being mirrored in responses to surveys about real estate.
It tells us that the average citizen struggles with independent thought. Most are pack animals and more likely to take action because everyone else is than because it makes sense. 
Sometimes it feels like all Australians are connected to a central brain – and not a particularly smart one, either.
Another recent poll that fits this theme is the NAB’s quarterly Australian Residential Property Survey. The generalised results are that sentiment has weakened and people expect price growth to be less spectacular than the past couple of years.
Significant? Not at all. It’s people parroting what they read in newspapers. Will those expectations be marched by outcomes? No it will not - growth won’t stop, but the focus of growth will switch from Sydney to other areas.
While media focused on this downturn in overall generalised simplified public expectations, without segmenting for local differences of which there are many, there are many other things in the NAB quarterly report that are far more significant. 
These are matters of fact, rather than impressions, expectations or predictions.
The NAB report is one of the few that realistically quantifies buying activity by first-timers. It finds that this market segment has increased recently - 26.2% of sales of established properties are made to first-time buyers, compared to 23.7% in the June Quarter. And 28.9% of sales of new properties are being made to first-time buyers.
The NAB report, unlike other less credible sources like the ABS, takes into account that not all first-timers buy homes. A rising number buy investment properties as a first purchase. According to NAB, 15.7% of established properties and 16.4% of new properties are being sold to first-timers as home-buyers. In addition, 10.5% of established properties and 12.5% of new properties are being sold to first-time buyers as investors.
They’re a big chunk of the market, but for many media outlets it’s an inconvenient truth because it contradicts the beloved storyline about the Great Australian Dream being dead because youngsters are priced out of the market. 
As an aside, research from Mortgage Choice has found that most first-home buyers are comfortable with their mortgages, with almost two-thirds saying they could accommodate interest rate rises of at least two percentage points (a quarter of them could cope with a rise of four points).
The NAB report also provides a good snapshot of the activity of foreign investors. It shows that overall they remain quite insignificant as a share of the overall market. They are most active in buying new property, where they account for 16% of sales.
They are most prominent, and this tells its own tale, in the apartment market, especially in Victoria (which means inner-city Melbourne). In Victoria, foreign buyers account for almost a third of all new unit sales. 
It confirms that developers are flooding inner-city apartment markets with new product because they believe they can sell any surplus stock overseas (which means Asia, especially China and Hong Kong). 
Some developers are not bothering to market locally but heading directly overseas to sell their off-the-plan stock.
As time goes by and more projects flood this market, I would expect the foreign purchase component to rise. It’s a warning to Australian investors and home-buyers to steer clear.
 
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>
 
 
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A warning to Australian investors and home buyers: Terry Ryder

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Competing investors pushed the price of a prime Burke Road shop some 25% above reserve selling under the hammer for $3.21 million.
Six parties fought it out at the auction through Fitzroys agents Mark Talbot and David Bourke.
It last sold at $2,095,000 in 2002 when bought by a private Melbourne investor.
The Commercial 1-zoned, 167sqm site at <a href="https://www.realcommercial.com.au/property-retail-vic-camberwell-501734390" target="_blank">670 Burke Road</a> was offered with a 5+3 -year lease to Jeanswest, returning $123,735 per annum gross over the ground floor and separate first floor office/residence.
The sale price reflected a tight net yield of 3.1%. 
The last sale in the street saw a 3.7% yield.
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Jeanswest, Burke Road Camberwell retail store sells at $3.21 million

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A redevelopment in the heart of the Gold Coast's Southport has sold for $7,665,000  to an Australian/Chinese consortium.
The site, 104-114 Scarborough Street, Southport,has DA pending for a high rise building and was sold through by Wayne Devenport and Brett Delmege of Ray White Commercial Southport on behalf of Sydney-based general practitioner Dr Nirmal Taluja.
 
A substantial redevelopment site which has a DA pending for a mixed use high rise building in the heart of the Southport CBD on the Gold Coast has been sold by Ray White Commercial for $7,665,000.
 
The property at 104-114 Scarborough Street, Southport, was sold to an Australian/Chinese consortium by Wayne Devenport and Brett Delmege of Ray White Commercial Southport on behalf of Sydney-based general practitioner Dr Nirmal Taluja.
 
Wayne Devenport said there was strong interest in the approximately 2,430 sqm site from local, interstate and overseas interests.
 
The vendors of this site had submitted plans for a substantial mixed use development over 48 storeys.
 
The development was proposed to include a total of 254 one, two and three bedroom apartments over 33 levels as well as student accommodation and 108 serviced apartments.
 
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Southport redevelopment site sold for $7,665,000

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The Banora Central Shopping Centre, south of the Gold Coast, has sold for $19 million to a private investor at a passing yield of approximately 6.49%.
The 13,340sq m site on the corner of Leisure Drive and Fraser Drive at Banora Point, was built in 2007 and features a Coles supermarket, three specialty shops, one kiosk and two ATMs and extensive partly covered grade-level parking. 
Jon Tyson of Savills said with only four specialty tenants, the asset offered strong income security and little or no leasing risk. 
"This feature, coupled with a low management requirement, was of particular appeal to investors," he said.
"It was this income security and ease of management that set the centre apart from other assets."
 
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Gold Coast's Banora Central Shopping Centre sells for $19 million

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Construction company Hindmarsh has finished the structural work behind the new Dutton Lane retail development in Western Sydney's Cabramatta. 
The $16 million project is scheduled for practical completion in early 2016. Essential services such as electricity and water twill be switched on over the coming weeks.
The three-storey Dutton Lane development will offer ground floor retail shops, commercial offices and car parking on level 1 and additional car parking on level 2. Approximately 4,300sq m of retail space will feature about 30 tenancies as well as 275 car spaces. 
 
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Dutton Lane redevelopment reaches key milestone

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NAME: Kevin Coppel
<img src="/images/2015/11/18/Screen%20Shot%202015-11-18%20at%201.54.23%20PM.png" alt="" width="218" height="181">
POSITION: Regional Head, Asia Pacific
COMPANY: Knight Frank Asia Pacific
OFFICE LOCATION: Singapore (Knight Frank Asia Pacific is the headquarters in Asia Pacific)
How long have you been in the industry?
I have been working in the professional services sector for about 25 years, of which eight years (and counting) have been in real estate.
What’s happening in the area you specialise in?
Market performance across the Asia Pacific region is quite mixed. For example, the east coast of Australia and Japan remain strong with considerable buying interest; whilst the Southeast Asian markets are struggling.
For Asian real estate investors, there remains significant interest in purchasing trophy assets (residential and commercial) in gateway cities in the UK, US and Australia.
At the same time, technology is becoming increasingly important in everything we do, bringing about technology-enabled offices which drives activity-based working. Knight Frank Sydney has recently been transformed into a new agile workplace which we believe will create more flexibility for our staff and improve collaboration.
Describe the most interesting commercial property you have worked on?
In my role I am more focused on client relationships than individual properties or portfolios.    
What I am noticing is that our clients are increasingly regional or global in the way they operate and make decisions.  In order to serve our clients effectively, we need to be able to mirror that in terms of the way we work.
Today, Knight Frank has 417 offices across 58 countries. In Asia Pacific alone, we have 57 offices in 13 countries. Hence, it is important that the region is actively communicating and sharing information in order to increase cross-border collaboration and provide the sort of seamless service our clients expect.
What are the ingredients to being successful in your job?
My ingredient mix for success:
<ul class="ul1">
<li class="li1">Listening well</li>
<li class="li1">Patience</li>
<li class="li1">Communicate clearly</li>
<li class="li1">Ability to articulate the firm’s strategy and how each employee fits into the bigger picture</li>
<li class="li1">Project energy despite limited sleep after a long haul flight; you cannot let jetlag get the better of you</li>
<li class="li1">Not taking yourself too seriously</li>
<li class="li1">Carefully managing consumption of food and alcohol and doing plenty of exercise</li>
</ul>
What aspects of your role do you enjoy the most?
My top 3 favourites:
<ul class="ul1">
<li class="li1">Meeting with clients and visiting offices in the region to catch up with the local teams</li>
</ul>
<ul class="ul1">
<li class="li1">The privilege of travelling around the region and experiencing different food, cultures and office dynamics</li>
</ul>
<ul class="ul1">
<li class="li1">Getting home to my family after a business trip 
</li>
</ul>
Where would you invest a spare A$750,000?
I would focus on residential opportunity in “brownfield” city fringe areas likely to be gentrified, concentrating on gateway cities in Asia Pacific. 
Which football team do you support?
Many – it depends on what football code you are talking about.
My pick:
<ul class="ul1">
<li class="li1">Rugby:  NSW Waratahs and Wallabies.  </li>
<li class="li1">AFL: Sydney Swans.  </li>
<li class="li1">NFL: New England Patriots.  </li>
<li class="li1">EPL: Man Utd.  </li>
<li class="li1">League: Sydney FC.   </li>
<li class="li1">NRL:  Manly Warringah</li>
</ul>
What’s your favourite app or techno gadget?
Favourite gadget: Bluetooth headphones for jogging
Favourite app: 
Seasonal: RWC 2015 (Rugby World Cup)
All-time: My Flights (tracks all of my flights); I am also an avid user of podcasts
How do you use social media?
<ul class="ul1">
<li class="li1">LinkedIn – via sharing updates and publishing pulse posts</li>
<li class="li1">Facebook – to follow what my children are doing; but I’m not a big fan of posting </li>
<li class="li1">WhatsApp – at present, I have approximately 40 active Chats groups across work, family, hobbies and sports</li>
</ul>
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In profile: Knight Frank Head of APAC, Kevin Coppel

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It is GIS Day, Wednesday 18 November - the international day to demonstrate the value and real-world applications of geographic information systems (GIS) technology.
Nearmap, the geospatial mapping and visual analytics company, has released exclusive aerial images of five Australian developments that have experienced dramatic transformations over the past five years.
It’s through GIS tools like nearmap’s aerial imagery platform which incorporates rich data set overlays, that we make better informed decisions about planning, construction and ongoing management, as well as improve efficiencies and boost productivity.
Photos from <a href="https://au.nearmap.com/" target="_blank">nearmap</a> below document five Australian locations that have experienced significant transformations over the last decade: the images<a href="https://www.dropbox.com/sh/fq7f5dugenxj0sn/AABY738fmCPFm9wrcC2xotsGa?dl=0"> </a>nearmap has captured and the progress gifs.
 Elizabeth Quay, Perth: In 2012, the Perth Government set out to redevelop Elizabeth Quay. It’s aim was to reconnect Perth’s city with the Swan River and provide much needed hotel, commercial, residential and retail accommodation. Three years on, and the construction is firmly underway. While it still has a fair way to go before completion, it’s easy to see how the development will change the whole face of Perth’s CBD. 
<img src="https://gallery.mailchimp.com/b16c0b957ea98f662ab985606/images/1e2505bc-23d8-48c9-9c7c-e9059028f5f6.gif" width="500" height="306" align="none"> 2009 - 2015 Elizabeth Quay’s transformation  
Crace, Canberra: The suburb of Crace, Canberra, holds the title of Australia's fastest-growing area, with a 57 per cent increase in population in 2013-14. The urban project to transform Crace into a top growth hot spot started in 2009 and has since reported $112 million in new dwellings.
 <img src="https://gallery.mailchimp.com/b16c0b957ea98f662ab985606/images/9c484d5c-a011-4dbb-a497-448279d80e34.gif" width="500" height="394" align="none"> 2009 - 2015: Crace’s transformation  
Sydney Harbour’s Foreshores - Barangaroo and White Bay Precinct: Sydney’s Harbour has experienced a massive facelift over the last five years. Most notably, we saw the rise of Barangaroo - turning a once barren concert pit to a nature reserve - and the redevelopment of the White Bay Precinct. While both are yet to be complete, the transformation of these areas are changing the face of Sydney harbour. 
 <img src="https://gallery.mailchimp.com/b16c0b957ea98f662ab985606/images/df694750-2ec3-4f88-977a-b046ac265077.gif" width="500" height="306" align="none"> 2010 - 2015: Barangaroo transformation <img src="https://gallery.mailchimp.com/b16c0b957ea98f662ab985606/images/8764b7a5-90d1-43c2-8a7f-653db0e8a89c.gif" width="500" height="259" align="none"> 2010 - 2015: White Bay precinct’s transformation 
Point Cook, Victoria: Point Cook is one of Melbourne’s newest suburbs, developed around wetlands along the coast of Port Phillip. Inspired by Manhattan, it’s quickly becoming a hotspot for investors and mega mansions. Only 30 minutes away from the CBD, and with all the latest facilities, it’s easy to see why it's so popular. However, the development is still a long way off. Over the next ten years, new retail developments, infrastructure and schools will be completed, transforming this once rural land, to prime real estate. 
 <img src="https://gallery.mailchimp.com/b16c0b957ea98f662ab985606/images/eba0102b-ee86-4404-a6c4-c6e396ab706a.gif" width="500" height="320" align="none"> 2010 - 2015: Point Cook's transformation 
Greater Springfield, Queensland: Greater Springfield is Australia’s fastest emerging new city. The $32 billion development is positioned as the gateway to the western corridor of south-east Queensland. At 2,860 hectares it is the largest master planned city in Australia and the first city of its kind since Canberra. Over the past few decades the area has transformed from rural farming to a vibrant community. Construction is still ongoing, however by 2030 it hopes to be home to approximately 105,000 residents.
 <img src="https://gallery.mailchimp.com/b16c0b957ea98f662ab985606/images/1000f2ff-544a-4ffb-b4e1-c3b9bfaf9dd1.gif" width="500" height="394" align="none"> 2010 - 2015: Greater Springfield’s transformation 
John Biviano, managing director of nearmap for Australia, says Australia is experiencing a massive facelift at every corner.
"GIS tools are critical to this process.
"GIS tools that help provide added insights to help data driven decisions."
 
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