<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

COVID-19

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JLL's recent ‘Will Melbourne’s city Fringe keep kicking goals’ report explores vacancy and rental scenarios for the market, post pandemic.
In recent years, Melbourne’s Fringe office market has recorded strong rental growth in prime and secondary assets, in some cases outperforming CBD markets nationally.
In 2020 the new supply to the Fringe markets is expected to be more than 9 times the 20-year-average. By the end of 2024, Melbourne’s Fringe office market is forecast to have a net increase in stock of close to 305,300sqm, taking the total market to 1.87million sqm, JLL research forecasts. 
While 1Q20 represents the peak of the net face rental growth cycle in the Fringe, the impact the health and economic crisis could have on the Fringe vacancy is still to be determined, particularly due to the variable and flexible component of the Fringe office supply pipeline.   However, as vacancy increases with the onset of new supply and downward pressure on demand, JLL predicts we will see effective rents in older and secondary stock recording more pronounced corrections.  
JLL Research is tracking 55 projects &gt;1,000sqm that could deliver an additional 272,700 sqm of office space to the market by 2024.However many of these are unlikely to proceed without pre-commit and therefore may be deferred or put on hold.
The projected supply, withdrawals and likely demand will all impact the Fringe office vacancy which is predicted to rise to 13.7 per cent by the end of 2021 and reach a second peak in 2024 at 14.3 per cent.
Several factors will impact the variance in predicted vacancy scenarios;  
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<li>Revised Scenario V shaped recovery assumes the supply pipeline is more substantially reduced or delayed and demand bounces back strongly in 2022. Vacancy peaks in 2023 are in the region of 12.8 per cent .</li>
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<li>Revised Scenario longer term impact assumes a reduced or delayed supply pipeline but also continuing inactivity for the next four years, minimal withdrawal of assets for any type of development and weaker demand. Vacancy peaks in 2022 are at approximately 15.4 per cent.  </li>
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JLL’s senior research director, Victoria, Annabel McFarlane, said: “COVID-19 is expected to have a short to medium term impact on the Melbourne Fringe markets. After five years of very strong rental growth with prime net effective rents increasing by 9.2 per cent on average annually, we are projecting that net effective rents will contract by 9.1% from the peak in 1Q20 to trough in 4Q21. 
“As demand softens, developers may postpone or place projects without any level of pre-commitment on hold as softening rents and yields impact the long-term viability of these projects. Shorter build periods and smaller project sizes gives the Fringe market a degree nimbleness as potential speculative supply is postponed in response to reduced demand.   
“However, it is not all negative and we predict some sectors to expand post pandemic, which will particularly affect the Fringe market given the occupier range. The fringe market will have an important role to play in the post COVID environment as some businesses look to split workforces and increase flexibility for staff.”
JLL’s head of metro office leasing, Victoria, Josh Tebb added, “Sectors including Technology, Health Care and the Public Services sector which are predicted to expand already have strong footholds within the Fringe markets, and these precincts are well placed to absorb these rapidly growing sectors in the recovery. 
“We are only beginning to witness the impact of COVID-19 on the Victorian office market but in these early stages, we believe the cost savings and controlled building environments of smaller buildings in the immediate fringe may appeal to some CBD tenants seeking to separate departments and project teams for the short to medium term.”
Ms McFarlane concluded, “Longer term, Melbourne is well positioned from a macroeconomic stance, with liveability, relative affordability, historic population and jobs growth and a strong education sector to support the recovery from this health and economic crisis. Office markets will need to become more metropolitan to accommodate the changing and growing workforce.”
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j.ballantyne1990-6AQqhLzZaK

Large Melbourne supply hits post COVID-19 

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Commentary on the future direction of the residential property sector has been diverse.
As Gary Brinkworth, the boss of the Herron Todd White valuation firm recently noted, some observers are expecting a subtle slowdown, while others predict a catastrophic collapse.
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He suggests these views fail to understand the complexity of the Australian residential property sector and that having specialist knowledge at a localised level was key to good decision making.
It adds its can be difficult to keep up as markets adapt to the challenges around COVID-19.
"Some locations have seen monumental disturbance to their usual state of affairs, while others have barely registered a ripple.
"COVID-19 has amplified the diversity of Australia’s resident property markets by location, price point and property type," he added.
Well informed valuers, like well informed estate agents, are well informed on sales activity and price direction.
Brinkworth acknowledged Herron Todd White in Sydney made the decision in early March that all staff would work from home.
The decision was made to ensure that any potential exposure to the virus did not place further risk on other staff and their clients, whose homes they inspect daily.
They changed the way they conduct inspections - with hand sanitiser, face masks and disposable gloves becoming just as importan as their tablets and laser measurers.
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HTW has also developed a contactless inspection tool which allows occupants to take internal photos which feed straight into their valuation system, allowing valuations when a COVID-19 related concern means a property cannot be fully assessed.
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This has allowed mortgage applications to proceed instead of being delayed by weeks or even months until internal access became available.
His team, while noting some statistics may not yet be showing a decline in values across the Sydney market, have seen evidence from selling agents indicates that values are falling, particularly in some areas and for some price sectors, although not necessarily uniformly within these sub-markets.
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The rental market has seen a more immediate impact however, with listings increasing and rents falling, which will certainly have an impact on yields and prices.
Looking around the regions the Northern Beaches has appeared to absorb much of the negative sentiment and restrictions surrounding the pandemic, although "there is a strong chance you will be paying less than you would have three months ago for the same product."
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The slowdown in volumes of transactions in inner Sydney and the Eastern Suburbs made it difficult to ascertain any emerging pattern emerging, but HTW advised in previous downturns, the inner city market segment most vulnerable to volatility is the upsizer price bracket, typically from $2 million to $3 million.
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HTW have been still seeing reasonably strong activity in the west, particularly at the entry level.
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Like the eastern suburbs, the North Shore prestige market is more accustomed to off-market transactions, so recent restrictions around open for inspections and public auctions have not impacted this part of the market as much as lower price points.
Overall HTW conclude the long term outcome of the COVID-19 pandemic for the property market is uncertain.
The Sydney property market is resilient, as seen by the recovery from the 2017 to 2019 downturn. 
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However, HTW anticipate a slower return to normal, depending on just where unemployment numbers end up and the extent of a decrease in short term immigration numbers.
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jchancellor-FAypfDUnLy

Sydney residential market is resilient, but expect a slower return to normal after COVID-19

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As lockdowns ease across the globe, people are emerging into a new normal.
Businesses are reopening and market activity across almost all sectors is resuming.
Real estate is no exception: the loosening of lockdown means that listings, viewings, and sales can once again take place. 
Savills Research has carried out a sentiment survey of the Savills global residential network to assess how COVID-19 is changing the residential property market as restrictions lift and what the future trends might be. 
In a promising result for property markets globally, 78 per cent of respondents said that most or almost all of the buyers in the areas they cover are still looking for a new property. 
Similarly, the majority of vendors across over 90 per cent of markets surveyed are still planning to sell their properties. This sustained level of interest from both buyers and vendors bodes well for the resumption of transactions as restrictions continue to ease. 
There is a disconnect when it comes to price expectations, however. 78 per cent of respondents stated that buyers were expecting to see lower prices than before lockdown. Conversely, 78 per cent of vendors are anticipating pricing to remain the same. Resort and second home locations such as the Algarve and the French Riviera report both buyers and vendors expect prices to remain the same, however respondents in urban markets, such as Bangkok, Sydney and Prague report expectations of lower pricings from both buyers and sellers. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/19/8_Existing%20buyer%20and%20vendor%20plans%20post%20covid%20.jpg" alt="" width="529" height="372">
Despite the pandemic and prospect of a global recession, 33 per cent of respondents report the same number of new buyers post-lockdown compared to this time last year. Some markets are even beginning to see more activity with 10 per cent of respondents reporting that since lockdowns lifted, there are more new applicants than the same time last year, particularly in second home and resort locations.
The general sentiment across survey respondents is that things are looking positive, but the market hasn’t quite recovered yet. Respondents in China, which has been out of lockdown for the longest, stated that the market took two to three months to recover, though activity has largely returned to normal. Many survey respondents reported that it was simply too early in the recovery to make any comparisons, either because flights for international buyers are still not allowed, or because potential buyers are still waiting to view properties in person. 
As activity resumes in the property markets globally, changes to the way people lived and worked during lockdown are already affecting buyer preferences. Respondents in 33 per cent of markets are reporting increased interest from buyers looking to upsize their main residence. Urban centres such as Sydney, Rome, and Monaco reported increased interest in upsizing particularly as residents likely endured lockdown periods in smaller spaces. 
For second homes, the overwhelming trend is that there has been little change in level of interest in 2020 from 2019. The number of buyers looking for investment properties could dip in 2020, however, as 30 per cent of markets are reporting a decrease in buyers looking for investment properties compared to last year.
Optimism is returning to the market as restrictions ease and commercial activity restarts. The new normal will present many opportunities for both buyers and vendors. Key to growth will be increased confidence from market participants and the resumption of travel after lockdowns are lifted and borders are reopened. As restrictions have eased, survey respondents are reporting increased demand, particularly from domestic buyers, and are anticipating stronger activity levels going forwards.
Respondents anticipate slightly increased stock levels, particularly in the near term as lockdowns are lifted and business activity returns to a more normal level. Resort markets in particular are reporting the potential for increased supply as international travel remains more difficult and buyers prioritise upsizing their primary residence in the near term. 
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<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/19/8_Future%202.jpg" alt="" width="540" height="273">
In Australia, Paul Craig, CEO, Savills Australia and New Zealand expects buyer sentiment to strengthen as confidence returns to the market.
“90 per cent of vendors surveyed globally are still planning on selling, and this is also true locally as stock levels are beginning to increase now in what seems counter cyclical for Australia’s winter period.
“The market is coming off an extremely low base of listings so whilst some say the higher stock levels coming to market will create great opportunities for bargains, I believe we’re just seeing a return to normal levels which should see us return to a balanced market” he said.
Chris Orr, Director, Residential at Savills Australia said it is easy to be negative right now as there are a lot of Australians doing it tough. What many may forget though is while rental yields and capital values have dropped recently, so too have interest rates and incentives are now being offered to boost turnover. 
“This has made it an even better time to buy in many cases than Pre-COVID for investors and people wanting to upsize or just get into the market. 
“We won’t know the full impact on buyer sentiment until we look in retrospect, however a key piece of information we’re looking forward to will be when the ABS release their Lending Indicators report on 9 July” he said.
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Global residential markets show signs of renewed activity 

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Investors are offloading properties in the weakened rental market, with apartment listings surging across capital cities.
It has been led by Sydney where there has been a 39 per cent jump in new stock during the past four weeks.
The apartments are often recently vacated.
Domain data also showed that between the four weeks to May 17 and the four weeks to June 14, apartment listings rose by 27 per cent in Melbourne.
They were up by 15 per cent in Brisbane.
Listings were up 37 per cent in Perth.
Soaring vacancies and widespread rental discounting have squeezed investors' cash flows to the extent that almost two in every five landlords are in a position of financial stress, particularly in the Sydney and Brisbane CBDs, during April and May.
Residential vacancy rates for the Sydney and Brisbane CBDs climbed see almost one in six apartments sitting vacant.
Competition for tenants has further intensified as short-stay landlords switched properties into the long-term rental market, leading to the owners of 820,000 rental properties being stressed, analysis by Digital Finance Analytics for The Australian Financial Review shows. Another 120,000 plus are under severe stress.
A property is considered to be in stress for its landlord when it has been vacant for more than two months and rental incomes are insufficient to cover running costs.
Units and apartments were 1½ times more likely to be stressed than houses, while rentals bought within the past three years were twice as likely to be stressed.
Digital Finance Analytics principal Martin North said the high degree of stress was surprising given the current low borrowing costs.
"I've never seen this level of investor stress in the past," Mr North said.
"It's a perfect storm thanks to COVID-19, the previous massive run-up in investment properties, fall in rental income, collapse of Airbnb demand and no inward migration."
The areas with the highest proportion of stressed investors were all in the apartment-dominated Sydney and Melbourne CBDs.More than eight in 10 investors in Sydney's Rushcutters Bay and Ultimo were stressed, with 1377 severely stressed.
In the Melbourne CBD and western Melbourne, more than three out of four landlords were stressed with 1918 investors under severe stress.
While apartment rentals were weak, a total investor wipeout was unlikely, AMP Capital chief economist Shane Oliver said.
"Investors are unlikely to default en masse as they can opt to freeze their mortgage repayments," Dr Oliver said.
"But the risks are still there."
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Investors head to the exits amid weakened COVID-19 rental market

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The Essendon AFL player Conor McKenna is unlikely to face a ban as the AFL investigates if there was a COVID-19 breach for visiting an open-house inspection.
The Sunday Herald Sun’s reported he visited five rental open for inspections ahead of his positive test.
The AFL is yet to rule whether it was a breach.
He was the first AFL player to test positive to COVID-19 which saw the Essendon-Melbourne game being postponed.
Protocols sent to players in a COVID-19 dossier this year stated players could “move house”.
It is understood that provision related to buying and selling houses rather than viewing rental properties.
The lease on the city apartment McKenna and his brother rents is close to expiring.
It is understood McKenna should also have contacted Essendon’s compliance officer Laura Lawry to check for permission.
Essendon chief executive Xavier Campbell confirmed the Sunday Herald Sun’s report about visiting an open for inspection, saying it was up to the AFL to rule whether it was a breach.
“Whether an open house is deemed to be a breach of the protocols we are still working through,” Campbell said.
McKenna also visited the host family that put him up when he moved to Melbourne from Ireland.
He was tested Wednesday when negative and there and his test on Friday came up as an irregularity given a low level, and it was a positive test on Saturday.
The footballer has gone home to Ireland with the club's approval, due to acute homesickness in February.  
He flew back to Melbourne on March 5.
He was overlooked for Essendon's Round 1 clash with Fremantle, with the AFL postponing the season the following day due to the coronavirus pandemic.
McKenna flew back home to be with his family in Ireland during the AFL's shutdown.
He arrived back in Melbourne from Ireland and went into a two-week quarantine period.
He was not selected to play against the Sydney Swans after returning for training in early June.
Footage captured by Channel 7 cameras showed McKenna blowing his nose and spitting at training on Friday.
 
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Bomber Conor McKenna's rental open-house under COVID-19 tracing investigation

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Victorian auction gatherings have again been limited as spike in COVID-19 cases has prompted warnings.
Amid the rising cases, the State Government has rolled back plans to allow up to 50 at auctions from today, instead keeping the cap at 20.
Victorians are also being urged to stay away from six local government areas in a dramatic escalation of efforts to prevent a second wave of the coronavirus pandemic.
The national medical expert panel says it “strongly discourages travel to and from” the areas of Hume, Casey, Brimbank, Moreland, Cardinia and Darebin.
There are collectively responsible for 42 active cases.
The tough limits have been slapped on household visits and outdoor gatherings after 25 cases were confirmed on Saturday and another 19 cases were confirmed yesterday.
Victoria recorded 116 of the nation’s 141 new cases in the past week.
Only 20 people will be able to attend public auctions until July 12.
The earlier announcement was that public auctions in Melbourne would have been able to have up to 50 people attend from midnight on Sunday, June 21.
Premier Daniel Andrews said the number of new COVID-19 cases throughout last week halted plans to ease restrictions.
“As we’ve seen across the world, this virus has the ability to turn a few cases into hundreds in a matter of days,” Mr Andrews said on Saturday. 
“That’s why we also need to delay an increase to gathering limits in businesses and community facilities.”
 
 
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Victorian auction gatherings have again been limited amid spike in COVID-19 cases

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As government restrictions are eased and Australian businesses prepare to reopen, employers, in accordance with the government’s ‘return to work’ roadmap, are beginning to ask their employees to return to the workplace. The question remains: what will the post-pandemic workplace look like and how will businesses and their respective employees adapt to a post-COVID office model?   
In light of this, global design and workplace strategy firm, <a href="https://www.unispace.com/projects" target="_blank">Unispace</a>, with a varied suite of clients including ANZ Bank, Optus, Coca Cola, EY and Deloitte, has recently surveyed 237 companies among their clientele to gather data and insights on the global impact of remote working and what the workplace future holds for these high-profile companies.  
The survey results shed light on what workplaces of the future will look like and emerging cultural and behavioural trends to be taken into consideration for future office design.  
As told by Unispace’s suite of clients:  
1.       The overall office footprint will shrink  
2.       Staff will work from home at least two to three days per week  
3.       Companies will send staff back in waves  
4.       Video conferencing will replace most audio conferencing, phone calls, and F2F external meetings 
5.       Employees will use more collaboration spaces within the office than before, and focus work will predominately be conducted at home  
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/12/9_Unispace.jpg" alt="" width="448" height="308">
Productivity 
Interestingly, 45 per cent of respondents have found themselves more productive while working remotely while 36 per cent have found it more difficult to maintain productivity as a result of ineffective setups and caregiving requirements. On top of this, 37 per cent have witnessed a decrease in productivity due to the increased need to communicate more regularly with colleagues. 
Internal/external changes  
The primary challenges from both an internal (63 per cent) and external (55 per cent) standpoint has been around connecting with peers and clients. Participants in the survey have seen challenges arising when talking to external parties with 42.7 per cent of respondents indicating some frustration with a mismatch of software and being unfamiliar with their client’s tools, which may have been better solved in a face-to-face office environment.   
Returning to the workplace  
Although respondents feel the office will go back to normal within three to six months (27 per cent), they also believe the overall office footprint will shrink (36 per cent) and staff will work from home at least 2-3 days per week (68 per cent).  
Remote working arrangements  
In line with higher in-office rates, 25 per cent of respondents in APAC have indicated that they don’t have a suitable home internet arrangement. While 70 per cent of organisations were prepared to work remotely, 30 per cent already had some teams working from home and were more equipped with this change to remote working. 
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Global companies weigh in on remote working and office return

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EXPERT OBSERVATION
Working from home during COVID-19 appeared to cost us little.
Yet employers effectively requisitioned part of those homes.
While necessary, it was far from costless to us, and our generosity shouldn’t be taken for granted.
Bureau of Statistics figures show that during April and May about half the workforce worked from home.
Working at home has been far from costless 
Preliminary results from a survey of more than 2,000 households suggest paid workers put in about as many paid hours per day as before (half to one hour less) but that unpaid work skyrocketed, by an extra five hours per day for women, and an extra two and a half hours for men.
Much of the increase was in childcare. Three in four Australians who live with children kept them home.
Some of it was in extra cleaning and washing, costs that for the moment (along with, for some workplaces, rent) many employers no longer needed to bear.
Few of us working from home will bother to bill our employers for the extra heating, office furniture, office consumables, home phone and internet use, toilet paper and coffee we’ve had to fork out for.
The Tax Office has indicated it will disallow deductions for tea, coffee and toilet paper saying, “just because you have to provide those things for yourself doesn’t make them deductible”.
Akin to the requisitioning of assets permitted by the state in emergencies, employers have in effect requisitioned parts of our homes – rent free and without paying utility costs.
With more people using each home, and more meals cooked and eaten at home, time in the kitchen has soared. As supermarket shopping has become less appealing, consumer durables such as bread-makers and freezers have been brought in. Backyard vegetable gardens and chicken runs have popped up.
Most of the extra work has fallen to women. Surveys often understate it by asking only about the “primary” activity in each quarter hour block rather than secondary activities (which often include childcare) undertaken at the same time. Multitasking intensifies work.
How do we make it count?
In an explosive book released more than 30 years ago entitled Counting for Nothing, New Zealand politician and economist Marilyn Waring described the dominant method of accounting for work as “applied patriarchy”.
The tool is gross domestic product (GDP), a measure that mostly only takes account of work that is paid.
The point was that unpaid household work and care counted for nothing.
Since then, time use surveys have found that non-market household production is very large – in Australia, equivalent to an extra half of GDP.
This matters, because its exclusion allows GDP to give us a distorted idea of progress.
In each normal year the Organisation for Economic Co-operation and Development forecasts growth in developed nations of between 2% and 4%.
That’s growth in gross domestic product. OECD calculations released in 2018 suggest that as much as a third of that growth – 0.84 to 1.79 percentage points – is an artefact, created by the shift from what had been unpaid household work and childcare into to paid household work and childcare.
That is, the official figures have presented a mirage. Parents have replaced unpaid childcare – which is not counted in GDP – with paid childcare, which is counted.
The switch has been recorded as “growth”, but it hasn’t been growth in work done or services provided. It is better described as accounting rather than economic growth.
If the accounting was done properly – if countries such Australia properly counted the value of unpaid household and services – it would show much lower growth and more frequent recessions.
And if our environment and resources (another omission except when they are exploited) had been properly accounted for, GDP growth would be lower again.
The household services artefact has been reversed during the COVID-19 lockdown. Many of us have been doing as much or more than we did, but less of it has been counted.
As it happens, the value of services provided by the home itself are included in GDP, through rent for renters and “imputed rent” for home owners. Home-grown produce is included as well, but unpaid human-provided services are not.
It’s as if it didn’t happen
The weak March quarter GDP result strengthened calls for extra spending on infrastructure – things such as mines, pipelines and fast trains to airports.
Days later the prime minister announced that childcare would no longer be free and JobKeeper for childcare workers would be replaced by a less generous subsidy.
It’s not what might have been expected after a historic opportunity to rethink productivity and wellbeing. Putting money into the care sector creates twice as many jobs per dollar as putting it into construction. A higher proportion of investment in the care sector also flows to women, whose paid work has been disproportionately hit by the shutdown.
Things that would help include increased worker protection against white collar sweatshops), expanded and reconfigured tax deductions for working from home, a paid allowance for home schooling costs during the shutdown and a shorter working week to rebalance roles at home.
Behind everything should lie proper accounting for care work. Without it we are likely to continue to rely on the generosity of unpaid working women, acting as if it is free.
Julie P. Smith is an Honorary Associate Professor at Australian National University.
Fiona Jenkins is an Associate Professor at Australian National University.
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About that spare room - employers requisitioned our homes and our time

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Real estate experts from CoreLogic, Macquarie, PieLabs and the Proptech Association of Australia are joining Stone &amp; Chalk for a discussion on the real estate recovery post-COVID.
The virtual event, on Wednesday June 17 at 12pm, is free. 
<div>Chris Rolls from PieLabs, Eliza Owen from CoreLogic and Domonic Thompson from Macquarie will be on the panel.</div>
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<div>They will be discussing what the residential real estate market is going to look like for both tech businesses and agents as we define the 'new normal'.</div>
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<div>The event will be moderated by Kylie Davis, CEO of the Proptech Association of Australia..</div>
<div> </div>
<div>To register, <a href="https://events.humanitix.com/the-proptech-panel-the-post-covid-recovery" target="_blank">click here</a>.</div>
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jrobinson-rf4aSBido9

Expert discussion panel on post-COVID real estate recovery

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Auction attendance restrictions are soon to be eased further in Victoria.
The Victorian Premier Daniel Andrews announced on Sunday that up to 50 people will be allowed at public auctions — up from 20 —  from midnight on June 21.
On-site real estate auctions were able to go ahead from mid-May but limited to 10 people, plus the minimum amount of people required to facilitate the sale and those selling the house.
On-site auctions had been banned since March, when restrictions began.
The lack of auctions saw buyer activity plummet in Melbourne, with online auctions struggling to replace their in-person counterparts.
 
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