<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

Construction

The prominent Sunshine Coast developer Cube Developments has launched their own&nbsp;construction arm in an attempt to cruise over the&nbsp;currently problematic&nbsp;Australian&nbsp;construction industry.

Cube Constructions will be led by&nbsp;Michael Crocker,&nbsp;whose long career saw him lead the likes of Hutchinson Builders and NCM Constructions.

Director of Cube Developments Scott Juniper said taking the builds of upcoming projects in-house was a natural evolution for the company due to the team&rsquo;s expert mix of design, build, trades and consultancy.

[smartcode_project:default project_id=109813 project_image_fid=196625]

&ldquo;Our team has a strong history of delivering high-quality projects across the Sunshine Coast. Couple this with the long running expertise that Michael brings to the venture as Head of Construction, we are confident that we are in the best position to deliver our projects from start to finish,&rdquo; Juniper said.

&ldquo;We&rsquo;re looking forward to giving both existing and new purchasers the confidence that when they sign an off-the-plan contract that it&#39;s something that can and will come to fruition, and in a timely manner.&rdquo;

With a recruitment drive underway, Crocker said the new venture will create plenty of new jobs in the region, including project managers, safety officers and site foreman.

[smartcode_project:default project_id=89721 project_image_fid=172110]

&ldquo;Following the huge demand for property experienced here on the coast over the last 18 months, we have more than 500 residences in the pipeline across five Cube Developments projects, all of which will be built by Cube Constructions,&rdquo; Crocker said.

The first project to commence under Cube Constructions is Nature by Cube in Cotton Tree with works scheduled to start mid-July, followed by the construction of Oasis in Bokarina Beach and Seasons by Cube in Birtinya.

The announcement comes at a critical time in the Australian building sector, with over 16 large firms having collapsed since 2021, leaving developers with unfinished projects, thousands of Australians without jobs and just as many would-be homeowners empty handed.

Cube Constructions will be led by Michael Crocker, whose long career saw him lead the likes of Hutchinson Builders and NCM Constructions

Sunshine Coast developer Cube launch construction arm

Lendlease Development has appointed the local Melbourne builder, Balmain &amp; Co, to construct their latest Richmond project, Gramercy Terraces.

The industrial brick fa&ccedil;ade will be built by the Melbourne construction company, which has previously collaborated with SMA Projects and CDG Developments.

[smartcode_project:default project_id=95458 project_image_fid=169945]

&ldquo;A trusted development team has never been more important than now. Lendlease and Bates Smart have partnered seamlessly to present Gramercy Terraces to be delivered by Balmain &amp; Co over the next 12 months&quot;, Bracken Hall&#39;s Andrew Hall said.

&quot;With only two of 14 [townhouses] remaining, the market has seen what we saw, impeccable design and finish in iconic Bendigo St&quot;, Hall added.

Shaped by the heritage precinct of Bendigo Street, the three and four-bedroom freehold homes are designed to deliver grand floorplans and refined contemporary finishes.

Formerly the grounds of &lsquo;Studio Nine&rsquo;, and once the site of the Wertheim Piano Factory, the development&rsquo;s namesake is a nod to music legends and the rich musical history of the site.

[smartcode_project:default project_id=95458 project_image_fid=169942]

Each residence, designed by architects Bates Smart, features grand floorplans and offer unrivalled space in an exclusive Richmond setting.

Residences in the inner-city development start from $1.945 million, with prices reaching $2.245 million for a four-bedroom townhome.

[smartcode_project:default project_id=95458 project_image_fid=169940]

With construction commencing later this year and just two properties remaining, this is the last chance for prospective buyers to secure a home at Gramercy.

[smartcode_project_cta: project_id=95458]

Lendlease Development have appointed Balmain & Co to construct their latest Richmond project, Gramercy Terraces

max.kwok_55688

Balmain & Co appointed to construct Lendlease’s Gramercy Terraces in Richmond: All but two townhouses snapped up

Construction has kicked off&nbsp;on Due North, the Preston&nbsp;apartment development by the Melbourne property developer, Caydon Property.

Ironside has been appointed as the construction partner for Due North, having previously worked with Caydon on the Preston Windsor &amp; Co project, six-level building of 125 apartments..

Caydon said they are&nbsp;excited&nbsp;to work with Ironside again, a company that has an successful track record in creating quality apartment buildings.

[smartcode_project:default project_id=5502 project_image_fid=155335]

&ldquo;As a leader in multi-residential apartment developments, Ironside has shown strong growth year-to-year in the small to medium size residential space,&quot; a spokesperson for Caydon said.

&ldquo;We have every confidence that Ironside will bring their incredible experience, attention to detail, craftsmanship, and enthusiasm to this project.&quot;

Completion for Due North is slated for mid-2023, with groundworks, including excavation and basement retention, have already begun.

Luke Skurrie, the managing director of Ironside, said the company embraced the opportunity to partner with Caydon once again.

[smartcode_project:default project_id=5502 project_image_fid=155342]

&ldquo;Ironside are thrilled to be awarded Due North. We look forward to delivering another quality development as we continue to build a better Melbourne with&nbsp;Caydon,&quot; Skurrie said.

Located in the hive of Preston South, the focal point of Due North is its impressive rooftop amenity level, complete with a swimming pool with views back to Melbourne.The 12-level develop is located on the popular High Street, jusut 20 minutes from the Melbourne CBD.

Once complete, Due North will home 107 one, two and three-bedroom apartments and three ground-level retail spaces.&nbsp;Over 50 per cent of apartments in the building have already sold.

[smartcode_project_cta: project_id=5502]

Ironside has been appointed as the construction partner for Due North, having previously delivered the Preston Windsor & Co project with Caydon

Caydon Property appoint Ironside to construct Preston apartment development, Due North

The latest Melbourne lockdown has led to some strong enquiry at Omnia, the&nbsp;Moorabbin development in Melbourne&#39;s south-east developed by Shenfield Property.

The one, two and three-bedroom apartments and townhomes are&nbsp;now sold 50 per cent sold.

[smartcode_project:default project_id=29048 project_image_fid=151676]

Noorden Property director David Lamond attributes this to the generously sized floorplans available at Omnia, ranging from 52 sqm to as large as 185 sqm, which are larger than what is typically on the market.

&ldquo;It is a win-win all the way&rdquo;, he said.

Situated at 4-6 Horscroft Place, Omnia is delivered by boutique developers Shenfield Property and designed in collaboration with Roger Brayshaw Architects.

[smartcode_project:default project_id=29048 project_image_fid=151679]

Most of the apartments at Omnia face North, offering discerning buyers an abundance of natural light.

The developers are expecting demolition to start during September, with construction to begin shortly after.

With the exception of one buyer, all purchasers so far have been owner-occupiers with some future residents even purchasing two side-by-side to create an even larger residence.

[smartcode_project:default project_id=29048 project_image_fid=80698]

The Shenfield Property development defines modern comfort and style, with proportioned interiors designed by Aldona Padjak and a great selection of living spaces.

Omnia&rsquo;s park frontage lays the foundation for its environmental consciousness, featuring energy-efficient design and an appealing pocket park on the North side of the building, created by Wallbrink Landscape Architecture.

According to the developers, project completion is on track for October 2022, with Shenfield Property leading the building process.

[smartcode_project_cta: project_id=29048]

The latest Melbourne lockdown has led to some strong enquiry at Omnia, according to Noorden Property director David Lamond.

Melbourne lockdown sees Omnia, Moorabbin apartments hit 50% sold, construction to start

Construction has commenced on Lincoln Apartments, the fourth apartment development by property developer Cedar Woods at its Williams Landing masterplanned community in Melbourne&rsquo;s west.

Figurehead Construction has been appointed as the builder for Lincoln Apartments, having previously delivered multiple projects for Cedar Woods across its Victorian communities.

Cedar Woods development director, Callum Knight, joined Figurehead managing director, Joe Grasso, on-site recently for the project&rsquo;s official sod turn.

<figure><img alt="" class="image-article-full-width-580px" height="541" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/210520_lincoln_sod-turn_cal_joe2-crop_1.jpg?itok=RSSD7Mno" title="f Callum Knight, development director at Cedar Woods and Joe Grasso, managing director at Figurehead Construction, breaking ground at the project site" width="580" />

<figcaption>Callum Knight, development director at Cedar Woods and Joe Grasso, managing director at Figurehead Construction, breaking ground at the project site.</figcaption>
</figure>

&ldquo;Our Lincoln project has started construction at an exciting time as we continue to create local jobs and support the construction industry,&rdquo; Knight explains.

Designed by DKO Architecture, the five-storey building will include 69 apartments and features in-house amenities including a gym and a communal rooftop recreation area for residents to enjoy.

Buyers get the opportunity to tailor their apartments, with light or dark palette options of textured timbers, honed stone, loop pile carpet and large format porcelain tiles.

[smartcode_project:default project_id=27675 project_image_fid=70623]

Lincoln Apartments is located within the town centre and will be a short walk from the Williams Landing shopping centre, train station, restaurants and the growing commercial office hub.

According to Knight, amenity has been a key driver in the popularity of the project.

&ldquo;We have developed Lincoln as a project that offers everything residents could possibly need. Being located within the town centre and having access to in-building amenity, purchasers are taking advantage of the value on offer.&rdquo;

[smartcode_project:default project_id=27675 project_image_fid=70625]

Following the ground-breaking of Lincoln Apartments, Cedar Woods has launched a series of boutique apartment stages in response to market demand from owner-occupiers for low-rise, suburban living.

Positioned as one of Wyndham&rsquo;s preeminent suburbs, once completed, the $2 billion masterplanned Williams Landing community will be home to 2,400 dwellings, as well as a thriving commercial and retail precinct.

[smartcode_project:default project_id=27675 project_image_fid=70626]

Located just 20 kilometres from Melbourne&rsquo;s CBD Williams Landing offers a diverse housing mix, train station, shopping, dining, parklands and office precinct, and has created demand from first home buyers, to downsizers and investors who saw the growth potential of the suburb.

Construction completion for Lincoln Apartments is slated for mid-2022.

[smartcode_project_cta: project_id=27675]

Construction has commenced on Lincoln Apartments, the fourth apartment development by property developer Cedar Woods at its Williams Landing masterplanned community

Construction commences at Cedar Woods’ fourth Williams Landing apartment development, Lincoln Apartments

Astute property investors are recognising the potential of Sydney property, with its numerous amenities, leading universities and great employment opportunities.

As free-standing home prices surge and approvals to build new houses reach record highs, homebuyers are looking to the off-the-plan apartment market to find savings on brand-new luxury developments.

For many buyers, a downside to off-the-plan purchases include the long wait for construction but with many projects expected to reach completion before the end of the year, Urban has decided to take a look at five soon-to-be-completed developments offered in Sydney.

1. Georgette, Schofields 
Developer: Positive Investment Enterprise 
Two-bedroom apartments from $535,000

[smartcode_project:default project_id=32227 project_image_fid=93945]

Kew Schofields second stage, Georgette, is expected to reach completion later this year, with 137 apartments available in one and two-bedroom configurations.

Designed by PBD Architects, residents can enjoy light-filled apartments in Sydney&rsquo;s fast-growing north-west.

Delivering a change of scenery from the bustling city setting, Georgette is set amongst lush green spaces for privacy and natural beauty.

[smartcode_project:default project_id=32227 project_image_fid=93951]

Each apartment boasts extended gardens, ample storage and, in partnership with Tesla, state-of-the-art energy and storage innovations.

2. 180 George, Parramatta 
Developer: Meriton 
Two-bedroom apartments from $715,000

[smartcode_project:default project_id=8590 project_image_fid=71711]

Hailed as Parramatta&rsquo;s tallest residential tower, 180 George is a new world-class development that brings beautiful residences with luxury amenities.

Set to reach completion in December, the 767-apartment tower features communal open space, rooftop gardens, a sundrenched podium terrace and barbeque area.

The 1,200 sqm podium gardens complement the adjoining 58-level hotel suites tower.

[smartcode_project:default project_id=8590 project_image_fid=71714]

Within walking distance is the Westfield Parramatta, Parramatta Park and a diverse range of bars and restaurants that line Church Street.

3. Ed.Square, Edmondson Park 
Developer: Frasers Property 
Two-bedroom apartments from $620,000

[smartcode_project:default project_id=5995 project_image_fid=78734]

Estimated to reach completion in December 2021, Ed.Square is the latest innovation from Fraser Property that is set to deliver new net zero energy demand homes.

Situated in Sydney&rsquo;s south-west suburb of Edmonson Park, the homes will produce more energy than they consume, saving residents up to 43 per cent of their energy costs.

Its sustainable features include LED lighting, electric-boosted solar hot water, geothermal heating and will not feature natural gas.

[smartcode_project:default project_id=5995 project_image_fid=78730]

The homes are located within convenient access to an array of shopping, dining and entertainment facilities.

4. Castle Residences 
Developer: United Development Sydney 
One-bedroom apartments from $1,230,000

[smartcode_project:default project_id=7758 project_image_fid=79424]

Anticipated to reach completion before the end of the year, United Development Sydney&rsquo;s sought-after Castle Residences is delivering 131 apartments just off Hyde Park.

The project merges five-star luxury hotel services and amenities with high-end apartments designed by Candalepas Associates.

The construction includes the refurbishment of the 142-year-old heritage-listed Porter House building and will include amenities such as luxurious dining areas, private dining spaces and in-residence catering.

[smartcode_project:default project_id=7758 project_image_fid=150437]

Timeless sculptural alcoves and arches bring together historical and contemporary architecture, while interior styling takes inspiration from Manhattan apartments.

5. Beyond, Hurstville 
Developer: Fridcorp 
Two-bedroom apartments from $850,000

[smartcode_project:default project_id=6798 project_image_fid=140935]

Fridcorp&rsquo;s latest Hurstville development, Beyond, will deliver its residents a number of on-site amenities that match the quality of the world&rsquo;s best hotels before the end of 2021.

Each residence exudes uncompromised quality from every aspect, with one, two, and three-bedroom apartments on offer.

Designed by DKO Architecture, the light-filled interiors boast wide frontages and a refined, contemporary aesthetic.

[smartcode_project:default project_id=6798 project_image_fid=140952]

Among its amenities include a two-podium platform, an outdoor dining and teppanyaki grill, gardens, lobby bar and residents&rsquo; dining.

Urban has decided to take a look at five soon-to-be-completed developments offered in Sydney

The top five Sydney apartments completing construction before the end of 2021

Established in 1991, Hickory has steadily evolved from a family-owned company to a nationwide group of construction specialists.

One of Australia&rsquo;s leading construction groups, Hickory has forged a reputation as an innovative and dynamic company with a commitment to environmental sustainability.

Unlike many other construction companies, Hickory prides themselves on their role as project builders.

The company is self-performing of over 60 per cent of the work on their construction projects, including structure, carpentry and fa&ccedil;ade, enabling them greater control over the project&rsquo;s cost and schedule.

With close to 30 properties built by Hickory listed on Urban, below we take a look at the top five that homebuyers can secure in Melbourne now.

1. <a href="/buildings/yarra-one-16-22-claremont-street-south-yarra" target="_blank">Yarra One</a> 
Address: 16-22 Claremont Street, South Yarra VIC 3121 
Two-bedroom apartments from $725,000

[smartcode_project:default project_id=3127 project_image_fid=31085]

EcoWorld International&rsquo;s second Australian project, Yarra One, offers 247 one, two and three-bedroom apartments in Victoria&rsquo;s South Yarra.

Hickory constructed the Fender Katsalidis-designed tower, which features rectilinear patterns and pure geometry.

One of the most striking elements of the $250 million development is the Claremont Street atrium.

2. <a href="/buildings/hawthorn-park-33-camberwell-road-hawthorn-east?last_source_news_article_id=99979&amp;ref=news_related_project" target="_blank">Hawthorn Park</a> 
Address: 33 Camberwell Road, Hawthorn East VIC 3123 
Two-bedroom apartments from $670,000

[smartcode_project:default project_id=3730 project_image_fid=158928]

Dahua Group&#39;s Hawthorn Park&nbsp;delivers a mix of one, two, three and four-bedroom residences that reimagine the norm of apartment living.

Designed by Rothelowman, the project boasts unparalleled amenities, including Melbourne&rsquo;s first sky pool, theatre rooms and a stunning sky lounge.

The tower also features over 2000 sqm of parkland curated by acclaimed landscape architect Jake Merlo that bring the Hickory-constructed building to life.

3. <a href="/buildings/victoria-vine-1-57-wellington-street-collingwood">Victoria &amp; Vine</a> 
Address: 1-57 Wellington Street, Collingwood VIC 3066 
Three-bedroom apartment prices available upon request

[smartcode_project:default project_id=5117 project_image_fid=24688]

Situated in Collingwood, Victoria &amp; Vine is a new $280 million luxury residential and retail precinct delivered by GURNER.

Set across nine buildings of different materials and heights, the development draws influence from New York&rsquo;s Meatpacking District and embodies a warehouse-style structural design.

Designed by COX Architecture, the homes blend into Collingwood&rsquo;s rich history of industrial factories and feature 11 retail tenancies and 4,500 sqm of resident amenity.

Only three-bedroom apartments remain.

4. <a href="/buildings/east-central-tower-820-whitehorse-road-box-hill">East Central Tower</a> 
Address: 820 Whitehorse Road, Box Hill VIC 3128 
Two-bedroom apartments from $565,000

[smartcode_project:default project_id=3867 project_image_fid=21985]

East central tower is a 30-storey building in Melbourne&rsquo;s Box Hill, delivered by the LongRiver Group.

Designed by Fender Katsalidis, the tower features 301 apartments in one, two and three-bedroom configurations.

The urban paradise boasts 1,500sqm of residential facilities, plus 3000 sqm of combined office and retail space, including a wellbeing centre, pool, yoga studio and gym.

Hickory completed construction on the 30-storey tower in December 2020.

5. <a href="/buildings/victoriana-melbourne-20-queens-road-melbourne">Victoriana</a> 
Address: 20 Queens Road, Melbourne VIC 3004 
Two-bedroom apartments from $745,000

[smartcode_project:default project_id=1979 project_image_fid=78667]

Completed in March 2021 by Hickory, Victoriana delivers 250 oversized two, three and four-bedroom apartments over 41,000 sqm of build form.

Overlooking Albert Park, the 18-storey tower features luxurious amenities and sprawling terraces with panoramic vistas.

Located on one of the most prestigious boulevards in Melbourne, St. Kilda Road, the Rothelowman-designed project features a large heated indoor to outdoor pool, cabana lounges and outdoor gardens.

One of Australia’s leading construction groups, Hickory has forged a reputation as an innovative and dynamic company with a commitment to environmental sustainability

Top five projects Hickory are building in Melbourne in 2021

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Developers Samuel Property and Bracken Hall have appointed Minicon to construct their latest Brighton project, Willow.

The art-deco inspired project, architecturally-designed by Bayley Ward, features layered designs and a striking exterior that integrates into its tree-lined environment. The soft arches and brick façade will be built by Minicon, the smaller project entity of the Icon Group and Kajima Australia.

Willow will feature a collection of two, three and four-bedroom home-sized residences. Its offerings include vast light-filled spaces, biophilic design and soft landscaping by Acre Landscape.

Residences in the bayside development start from $2.175 million, with prices reaching $6.5 million for a penthouse apartment.

With construction commencing early 2021, this is the last chance for prospective buyers to design their home ahead of construction in a complimentary private appointment offered by Bayley Ward.

<h2>Other luxury developments on the market in Melbourne’s Bayside suburbs</h2>

1.    <a href="/buildings/tilli-547-hampton-street-hampton">Tilli, Hampton</a> 
Address: 547 Hampton Street, Hampton VIC 3188 
Three-bedroom residences from $1,190,000

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/tilli-547-hampton-street-hampton-7ccdd72a5a4e52304e318a7e8f7435b0_0.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="337" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/tilli-547-hampton-street-hampton-7ccdd72a5a4e52304e318a7e8f7435b0_0.jpg?itok=r-ZQgs98" width="580"></a>

Positioned on the top end of a vibrant Bayside retail strip, Tilli offers luxury in a exclusive location. Delivered by Shenfield Property, Tilli is a collection of eight two and three-bedroom residences.

The three-storey mixed-use project offers residents generous kitchens, terrace space and light-filled living with apartments beginning from $1.19 million.

2.    <a href="/buildings/jasmin-1-wave-street-hampton">Jasmin, Hampton</a> 
Address: 1 Wave Street, Hampton VIC 3188 
Three-bedroom residences from $2,850,000

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/jasmin.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="348" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/jasmin.jpg?itok=ws88z1mn" width="580"></a>

Poised atop Hampton Hill, just one kilometre from the beach, Jasmin offers five high-end apartments amongst Melbourne’s iconic bayside beaches.

Designed by Taylor Pressly Architects, each apartment features three bedrooms, north-facing aspect and private outdoor area.  
</body></html>

Developers Samuel Property and Bracken Hall have appointed Minicon to construct their latest Brighton project

Samuel Property appoints Minicon to build Willow Brighton

With many developments expected to reach completion over the coming year, Urban has decided to take a look at five&nbsp;soon-to-be-completed developments offered in&nbsp;Victoria.&nbsp;&nbsp;

1. <a href="/new-townhouses/addison-walk-williams-landing">Lincoln Apartments, Williams Landing</a> 
Address: 100 Overton Road, Williams Landing VIC 3027 
Two-bedroom apartments from $419,000

[smartcode_project:default project_id=27675]

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/lincoln.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="387" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/lincoln.jpg?itok=ZUdEgOZp" width="580" /></a>

Set for completion late this year, Lincoln Apartments is located in the centre of the masterplanned community, Williams Landing. Delivered by Cedar Woods and designed by DKO Architecture, the residence features light-filled apartments with balconies, a rooftop garden and a residents&rsquo; gym.

Other offerings include views over the conservation reserve, pleasant greenery and parklands and transport connections.

Cedar Woods is offering investors $15,000 off on their apartment purchases within the project.

2. <a href="/buildings/the-terraces-at-minta-soldiers-road-berwick">The Terraces at Minta, Berwick</a> 
Address: Soldiers Road, Berwick VIC 3806 
Two-bedroom townhouses from $449,900

[smartcode_project:default project_id=27487]

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/minta_townhome.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="326" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/minta_townhome.jpg?itok=Ia4t_Fbg" width="580" /></a>

With estimated completion just six months away, Stockland&rsquo;s recent project in Melbourne&rsquo;s south-east expects increased demand from first home buyers. With two-bedroom residences available from $449,900 and three-bedrooms from $529,900, townhomes in the project offer buyers excellent value for money.

Each of the double-storey homes include secure car garages, double glazing, high ceilings and garden landscaping, as well as open-plan living and dining and a fully-fenced garden patio.

3. <a href="/buildings/avenue-by-skelton-14-gleniffer-avenue-brighton-east">Avenue, Brighton East</a> 
Address: 14 Gleniffer Avenue, Brighton East VIC 3187 
Three-bedroom townhouses from $2,290,000

[smartcode_project:default project_id=29935]

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/metr10298_gleniffer-avenue_e01_streetscape.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="290" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/metr10298_gleniffer-avenue_e01_streetscape.jpg?itok=BxXV_LQ6" width="580" /></a>

Brighton East&rsquo;s luxury townhome collection, Avenue, offers nine three-bedroom residences with Japanese and minimalist influence. Revealed in Avenue&rsquo;s latest construction update, which you can view <a href="https://www.youtube.com/watch?v=3PDXqOH-ya4">here</a>, potential buyers are now able to see the project&rsquo;s striking pitched roofs upon arrival to Gleniffer Avenue.

Delivered by SKELTON and designed by ADDARC and Jack Merlo, Avenue offers private balconies, ground-floor courtyards, cascading greenery and bespoke kitchens. Double glazing, custom bathroom cabinetry and 4.4-metre-high gabled windows also feature within these luxury homes.

4. <a href="/buildings/two51-on-swan-245-251-swan-street-richmond">TWO51 on Swan, Richmond</a> 
Address: 241-251 Swan Street, Richmond VIC 3121 
Two-bedroom apartments from $1,030,000

[smartcode_project:default project_id=3298]

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/two51-on-swan-245-251-swan-street-richmond-4ec507e5809b1dc1253cc608479756d6.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="396" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/two51-on-swan-245-251-swan-street-richmond-4ec507e5809b1dc1253cc608479756d6.jpg?itok=gg8aYGEf" width="580" /></a>

Expected to reach completion in August, TWO51 on Swan offers the rare opportunity for half and full-floor penthouses in Melbourne&rsquo;s Richmond. Blueprint Projects&rsquo; development offers buyers two, three and four-bedroom configurations in the art deco-inspired building, designed by Watson Young Architects.

Other features include a grand lobby, open-plan layouts, and an expansive open-air &lsquo;winter garden&rsquo;, with integrated balustrades finished with stone, timber and metal textures.

5. <a href="/buildings/heirloom-doncaster-east-908-doncaster-road-doncaster-east">Heirloom, Doncaster East</a> 
Address: 908 Doncaster Road, Doncaster East VIC 3109 
Two-bedroom apartments from $659,000

[smartcode_project:default project_id=26614]

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/heirloom.jpeg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="326" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/heirloom.jpeg?itok=7c-Ouo_h" width="580" /></a>

Heirloom, a collection of 16 homes in Doncaster East, will also reach completion this year, offering the latest features and modern conveniences to its residents. Designed by ClarkeHopkinsClarke as a vibrant mixed-use community, Heirloom draws inspiration from its location, with home-sized apartments and 1960s furniture pieces.

Delivered by Parkes Property, Heirloom features light-filled interiors, terraces&nbsp;and mini butler&rsquo;s pantries.

Urban takes a look at five new developments in Victoria that are expected to reach completion in the coming year. 

5 VIC residential developments completing construction in 2021

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The Australian Bureau of Statistics (ABS) released building approvals data for August 2014 earlier this month.
At a headline level, dwelling approvals were 3.0% higher over the month and are now 14.5% year on year. With 16,810 approvals over the month there is clearly a strong level of residential development activity with monthly approvals just -5.0% lower than their recent peak.
<img src="/images/2014/10/8/Chart-1.jpg" alt="">
Of the 16,810 dwelling approvals in recorded over the month of August, 9,401 were for houses and the remaining 7,409 were mulit-unit dwellings (typically apartments).
Over the month, house approvals fell by -1.4% while unit approvals rose by 9.2%. Year-on-year, house approvals are 12.6% higher while unit approvals are up 17.1%. 
As the chart above shows, the six month trend indicates a slowing of dwelling approval numbers and it also shows that monthly movements in unit approvals tend to be much more volatile. Also remember that a multi-unit development is more risky than developing a single house and ultimately less likely to ultimately be constructed.
<img src="/images/2014/10/8/Chart-2.jpg" alt="">
Focussing on dwelling approvals on an annual basis we have seen more house and unit approvals than ever before over the 12 months to August 2014. Over the 12 month period there were 197,571 dwelling approvals, of which 111,020 were for houses and 86,552 were units. The annual number of approvals has increased by 19.2% over the past year.
Although approvals have surged, as the chart shows it is largely due to a significant lift in unit approvals. Although the number of unit approvals over the past year was at a record high, house approvals are still -6.8% lower than their previous peak over the year to July 2010 and -21.2% lower than their all-time high of 140,832 over the year to April 1989.
Historically, units have been much less likely to move from approval to construction. Units also tend to be much more likely to be owned by investors than houses. 
With the Reserve Bank flagging that deliberations are ongoing into the introduction of macroprudential policies to slow the level of investor activity in the housing market, there is potentially an even bigger than normal risk that these units won't make it to completion.
<img src="/images/2014/10/8/Chart-3.jpg" alt="">
Across the combined capital cities, there was an all-time high of 147,122 dwellings approved for construction over the 12 months to August 2014. The number of capital city dwelling approvals has increased by 21.9% over the past year. 
Over the year there were, 71,662 approvals for houses and 75,460 unit approvals with house approvals up 20.6% and unit approvals 23.2% higher.
Much like the national results you can see that unit approvals are at their higher levels while house approvals are only just approaching their previous peak levels.
This article continues on the next page. Please click below.
<hr class="system-pagebreak">
 
 
<img src="/images/2014/10/8/Chart-4.jpg" alt="">
Across the individual capital cities, Brisbane has recorded the greatest increase in dwelling approvals over the year (41.8%) followed by: Perth (24.9%), Adelaide (24.0%) and Sydney (23.3%). Dwelling approvals are lower over the year in Darwin (-6.8%) and Canberra (-6.4%) while Melbourne (16.3%) and Hobart (19.4%) have recorded only moderate rises in dwelling approvals. 
Despite certain cities recording significant rises in dwelling approvals, Sydney and Melbourne have accounted for more than 57% of all capital city dwelling approvals over the past year. With 26,123 dwelling approvals over the past year, approvals in Perth are at a record high while Brisbane approvals are just shy of their record high.
<img src="/images/2014/10/8/Chart-5.jpg" alt="">
A key driver of the overall increase in dwelling approvals has been the rising prominence of the unit market. Over the past year, the increase in unit approvals has been greater than the increase in house approvals in Sydney, Brisbane, Adelaide and Perth.  Although unit approvals have recorded greater increases in these cities, there has been a substantial decline in unit approvals across Hobart and falls in both Darwin and Canberra.
<img src="/images/2014/10/8/Chart-6.jpg" alt="">
With more than half of all capital city dwelling approvals for units as opposed to houses, all individual capital cities except for Adelaide (31.8%), Perth (25.9%) and Hobart (7.0%) are seeing a majority of approvals for units. In Sydney, 67.7% of dwelling approvals were for units over the past year, elsewhere 53.0% were for units in Melbourne, 55.9% in Brisbane, 63.2% in Darwin and 57.9% in Canberra.
Sydney has consistently approved more units than houses since 1993 and Darwin has consistently approved more units than houses since 2003, while across the other cities it is a relatively new phenomenon.  
Melbourne has only been approving more units than houses since mid-2012, in Brisbane it has occurred since mid-2013 and in Canberra since mid-2010. Of course, there is an increasing level of demand for units, but particularly in Melbourne and Brisbane the number of units in the pipeline is largely untested in the market. 
Furthermore, units tend to be more appealing to the investor market rather than owner occupiers. While demand may currently be strong it remains to be seen whether there is enough investor demand to satisfy all of the supply in the pipeline.
Dwelling approvals remain at a very high level and with the rate of population growth slowing it is encouraging to see that supply is finally responding.  With their lower price point compared to houses and superior rental returns no doubt we are seeing a rising level of demand for units, particularly in inner city markets. 
Of course, the Reserve Bank of Australia has raised concerns about the level of investment lending which is most prominent for inner city units.
If controls are introduced to slow the level of investment there may be an adverse impact on demand and subsequently values of inner city units, particularly new inner city units which are a strong target from the investment segment of the market.
 
</body></html>

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