<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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The number of house sales in Tasmania fell by 27 percent in April compared with March, with property prices in Hobart down 14 per cent, according to figures from the state's Real Estate Institute.
<h2 class="zT1nT _4Zpdk SelAj _1t9H3 _2-MxD lxkD- mSYxO age8P" data-component="Heading">House prices were down 2.2 per cent statewide, but by 14 per cent in Hobart, over the same period.</h2>
THE Real Estate Institute of Tasmania (REIT) president Mandy Welling said she was not surprised given the restrictions and challenges of the COVID-19 pandemic.
"These are the least productive figures since July 2013," Ms Welling advised.
The April sales figures showed in Hobart the turnover decline was 37 per cent, Launceston 39 per cent and the north-west 12 per cent.
There was an easing of sales for properties in the $500,000 and above price bracket, but these properties were still selling on average 1.7 per cent above their listed price.
"There were certainly not as many people out there thinking about putting their property on the market and, indeed, buyers out there to purchase."
REIT chief executive officer Mark Berry said the price drop overall was not as significant as predicted.
"House prices haven't really seen the downward effect that the mainland commentators have been reporting that may happen in Melbourne and Sydney," he said.
"The Tasmanian market has held very firm."
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The first case of COVID-19 was confirmed in Tasmania on March 2.
Over the March 2020 quarter Tasmania experienced a total of 1870 house sales, a 1.2 percent decrease State-wide on the previous quarter and 4.9 percent increase over the previous year.
In the March quarter Sandy Bay in the south achieved the highest median sale price at $948,888. 
The median sale price in Sandy Bay was down 9.6 percent on the previous quarter.
Across the State the two most expensive postcodes for the quarter were 7005 and 7004 and the postcodes with the highest turn over of property were 7250 and 7310. 
In addition to this, Sandy Bay was crowned the most expensive suburb with 29 sales, a median sale price of $948,888 and an increase in sale price of 21.7 percent over the previous year.
 
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j.ballantyne1990-6AQqhLzZaK

Tasmanian real estate turnover falls 27 percent in April

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The NSW Government has today released its plan to provide a COVID-safe transport network.
Premier Gladys Berejiklian said as restrictions are eased and people travel more, we need to ensure physical distancing is maintained across our public transport network.
Minister for Transport and Roads Andrew Constance said for the foreseeable future, the public transport system could not run as usual, and the current low patronage levels were already close to the safe capacity in the peak.
“Everyone will need to maintain physical distancing during this pandemic,” Mr Constance said.
“That means if you are not already using public transport during the peak times, please do not use public transport during peak periods.”
The NSW Government’s COVIDSafe Transport Plan includes:
1. Avoiding peak travel: If you are not already using public transport in the peak, please do NOT use public transport in the peak. Services are already close to capacity to allow for distancing at these times. Off peak times are between 10am and 2pm;
2. Deep cleaning and more hand sanitisers: Intense and ongoing cleaning will occur throughout the transport network and there will be a continued rollout of hand sanitiser at key transport hubs, including at high demand stations;
3. Boosting parking: Special event-style parking arrangements will be in place at Moore Park for people who are able to drive to work. Other locations will be rolled out soon. In addition car park operators will be offering special deals for all day parking;
4. More cycling and walking options: The Government is working with councils on establishing pop-up cycleways and enhancing pedestrian access to allow more people to find alternative routes to work;
5. Physical distancing - ‘No dot, no spot’: Distinctive green dots will be used on trains, buses and ferries to show passengers the safest places to sit and stand. A ‘No dot, no spot’ will see passengers asked to wait for the next service. School children will be given priority access;
6. More data: Customers to be given real time information through Apps, social media and Transport Info to see which services have space available to maintain physical distancing; and
7. More services: Changes will be considered to increase services eg; more ferries, water taxis and private vehicle passenger services on the water.
Minister for Transport and Roads Andrew Constance said cleaning continues to be ramped up, with an extra 132,000 hours of cleaning since March.
“The network has never been cleaner, however to maintain physical distancing you will continue to see fewer people on our network and we want people to continue to drive, cycle and walk whenever they can,” Mr Constance said.
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NSW Government released plan for COVID-safe public transport

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Urban's Executive General Manager Craig Holmes caught up with Noorden Property's David Lamond about the current property market and the outlook on property sales as a result of COVID-19.

David specialises in high-end property sales and has utilised Urban's services for marketing projects that we're necessarily generating the same volume of leads on other platforms. 

<blockquote>
"Sold stuff that I wasn't selling so, happy days!"
</blockquote>

David Lamond, Noorden Property Director

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/SeWrvnIuOmc" width="660"></iframe>

<h2>Key topics discussed:</h2>

0:47 - About David Lamond and Noorden Property projects

1:36 - What's the profile of project that you focus on?

2:14 - how is the market performing through COVID-19?

3:19 - What is your sale conversion rate from Urban leads?

4:40 - How is Urban performing vs your other lead channels?

5:43 - What is your feedback on Urban’s cost per lead model?

7:19 - Have you had to change your approach due to COVID-19?

8:07 - What is your advice to developers that are looking to launch a project now?

9:04 - What type of product is resonating with buyers?

9:59 - Any advice to others based on the success you are having with Urban?

<h2>Request more info:</h2>

You can reach David Lamond at: david@noorden.com.au or 0416 422 279

If you are wanting to chat to Urban about how we can support with a campaign for your project contact us at partnerships@urban.com.au

For more industry news, sign up to Urban portal <a href="https://next-portal.urban.com.au/login">here</a>.
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urban.com.au

Urban GM Craig Holmes interviews Noorden Property's David Lamond about the current property market

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Australia's unemployment rate has risen to 6.2 per cent, up one per cent over the COVID-19 hit month of April, well down on economists forecasts.
Before the release of the figures from the ABS today, economists were tipping a rise to 8.3 per cent, which would have taken the unemployment rate to the highest point since August 1997.
The majority were saying seven per cent or higher.
Unemployment instead however rose by just one percent from 5.2 per cent in March, with the number of people unemployed increasing by 104,500 to 823,300.
Employment fell by 594,3000 people, seasonally adjusted.
“The large drop in employment did not translate into a similar sized rise in the number of unemployed people because around 489,800 people left the labour force”, Bjorn Jarvis, head of labour statistics at the ABS, said.
 Participation rate fell by 2.4 per cent to 63.5 per cent.
“This means there was a high number of people without a job who didn’t or couldn’t actively look for work or weren’t available for work”, Jarvis said.
<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/2020/5/14/Unemployment%20by%20state.jpg" alt="">
Unemployment in South Australia rose to 7.2 per cent, the highest in the country.
Tasmania saw the biggest jump, up 1.3 per cent, followed by Queensland and New South Wales, who both saw 1.1 per cent increase in unemployment from March to April.
Josh Frydenberg says Treasury still expects the jobless rate will peak at 10 per cent before recovering.
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jrobinson-rf4aSBido9

Unemployment rises slightly to 6.2 per cent

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House prices could be slashed by a third, Commonwealth Bank have suggested in its worst case scenario for the national housing market.
The best case scenario, the country's biggest lender says, was for prices to drop 11 per cent.
LF Economics founder Lindsey David says a 32% fall in house prices will "kill the Australian banking system without mega bailouts."
Matt Barrie, founder and chief executive of Freelancer, believes even a 25 per cent drop will do it.
" I think that pushes most mortgages since 2017 into 100% LVR", Barrie said.
NSW Premier Gladys Berejiklian has said the news would be welcome for some.
<div>
"It'll be a buyers' market for a while," Ms Berejiklian said this morning.
</div>
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"There's always a positive in a negative circumstances."
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CBA's worst case scenario considers a two year recession where GDP growth could scale back nearly eight per cent over 2020 and 2021, with a minor 2.3 per cent bounce in 2022.
It would also rely on the unemployment rate hitting nine per cent in 2020, and only scaling back to 8.5 per cent in 2021.
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An 11 per cent scale back in the nation's house price index would more likely occur if Australia's GDP only falls six per cent in 2020, and recovers that amount in 2021, before slowing to a three per cent gain in 2022.
It would also see unemployment only hit 8.25 per cent, rather than nine per cent, and drop back to eight per cent in 2021 as the country's borders stop opening and jobs get back to some sort of normality.
Unemployment would be hitting 6.5 per cent in 2022 if this is the case.
CBA stated the key drivers of the fall in house prices were unemployment, underemployment and changes to income, given the severe economic impact to COVID-19. The bank have set aside $1.5 billion to cover potential losses.
ANZ was much more optimistic when it came to forecasting the potential effect on the housing market, predicting 10 per cent peak to trough losses nation-wide.
ANZ economists Felicity Emmett and Adelaide Timbrell anticipate prices will bottom out in mid-2021 as affordability improves, but the recovery is likely to be relatively gradual given that unemployment is expected to remain above 7% until 2022.
Emmett and Timbrell suggest the deterioration in household income will be the biggest driver of weakness.
"Already, nearly a third of Australian households have reported a deterioration in their finances due to COVID-19," the economists said.
 
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House prices could fall 32 per cent: CBA's worst case COVID-19 scenario

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ANZ Research has forecast the national housing decline will reach 10 per cent, before seeing a modest recovery in late 2021, as economist start to work out the future after COVID-19.
They expect the biggest declines to be felt in Sydney, Melbourne and Hobart, all predicted to decline -13 per cent.
Brisbane and Darwin have been forecast to decline -7 per cent, Adelaide -6 per cent and Canberra -5 per cent, with Perth down just -2 per cent.
ANZ economists Felicity Emmett and Adelaide Timbrell anticipate prices will bottom out in mid-2021 as affordability improves, but the recovery is likely to be relatively gradual given that unemployment is expected to remain above 7% until 2022.
<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/2020/5/13/ANZ%20housing%20forecast.jpg" alt=""> Hobart is set for the worst 2020 performance, but losses will be scaled back in 2021: Source ANZ Research
Emmett and Timbrell suggest the deterioration in household income will be the biggest driver of weakness.
"Already, nearly a third of Australian households have reported a deterioration in their finances due to COVID-19," the economists said.
"This collapse in income will create significant uncertainty for households and leave many unwilling to commit to buying or building a 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/2020/5/13/ANZ%20price%20growth.jpg" alt=""> Price growth has slowed in Sydney and Melbourne after bouncing back from the mid-2019 downturn. Source: ANZ Research
Emmett and Timbrell said the disruption of population growth will impact prices given border closures, expected to damage the Sydney and Melbourne markets the most given the bulk of their population growth comes from net overseas migration.
"Investor demand is likely to be hardest hit in the current environment. With the rental market under pressure from both reduced demand and increased supply, the incentive to invest in property will be low," they added.
"While the deferral of home loan repayments will help prevent forced sales, the collapse in demand in the face of the extremely uncertain outlook will drive prices lower over the next year or so."
 
 
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ANZ forecast 10% peak to trough declines until late 2021 rebound

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REA Group has updated the market that the COVID-19 pandemic has put an end to signs of recovery in the real estate market.
It reported a drop across new residential listings of 33% nationally in April, with the website business working to offset the anticipated revenue loss with cost-saving initiatives.
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Weakness in new listing volumes saw April national residential listings down 33%, with Sydney down 18% and Melbourne down 27%.
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Its Q4 operating experiences are expected to be 20% lower than the previous year.
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REA Group has a cash balance of $135m as of 30 April 2020 but has entered into an additional $149 million loan facility.
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It isn’t expected to be drawn in the short term.
The CEO Owen Wilson said he was incredibly proud of the way the business has handled the pandemic impact.
“Prior to the impact of COVID-19, the market recovery was in full flight with very strong listing in the weeks leading up to mid-March.
"In February we saw record audience numbers and strong buyer interest, reinforcing signs of the positive market momentum.
“Our priority has been to help our customers and consumers adapt to the new market conditions by providing the right support measures and new product features.”
REA's share price jumped over seven percent in morning trading.
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REA reports 33 percent decline in new national listings

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EXPERT OBSERVER
On the 25th of March, real estate agents were temporarily banned from hosting open property inspections and on-site auctions.
The ban resulted in changes to the auction process, which went from on-site to online. These changes are reflected in some startling data points in the auction results. Below is a summary of typical auction outcomes before and after auction bans were put in place.
The biggest stand-out in the data is an increase in properties withdrawn from auction. From the week ending 29th of March, to the week ending 3rd of May, the portion of scheduled auction events withdrawn averaged 45.8% across the combined capital cities market. This is about 8 times the 5-year average rate of withdrawn properties prior to COVID-19, which was 5.7%.
While withdrawn properties increased, the total number of scheduled auctions came down in the weeks after the nation-wide lockdown. This partially reflects vendors and agents adapting to the private treaty sale method, or adapting to online or over-thephone auctions. As a result, the withdrawn rate has since come down to 26.4%. The decline in auction volumes was also partly attributable to the Easter long weekend, which typically sees very low levels of listing, buying and selling activity
The clearance rate for the combined capital cities reached a record low (excluding January results which are seasonally impacted) of 30.2% in the week ending April 19th. This has since stabilised to 47.5% for the week ending 3rd of May.
The dramatic drop-off in the clearance rate was largely because CoreLogic counts a ‘withdrawn’ property as a non-sale. Meanwhile, 17.1% of scheduled auctions were passing in after the on-site auction ban was introduced.
Ultimately, most of the decline in the clearance rate can be explained through an engineered slowing of auctions. This is important to note, because clearance rates and changes in home values have historically been closely correlated.
At face value, the sharp fall in clearance rates implies housing values could follow a similar trend, however there is a good chance the relationship has at least temporarily disconnected due to the high withdrawal rate dragging the clearance rate to artificial lows.
Will the re-introduction of auctions have an impact on the residential market?
As open inspections are gradually reintroduced across the country, and onsite auctions re-commence in NSW, it is worth considering what impact, if any, this would have on the volume of transactions and price levels. CoreLogic estimates that the number of transactions has dropped about 40% over April, while prices held relatively firm.
Having multiple, potential buyers inspect property would increase productivity for agents, potentially enabling more stock to come to market.
Public auctions may expose buyers to their competition, which in a market where prices are rising, could induce people to make higher bids and become more competitive.But in the current market, consumer confidence is recovering from the lowest levels since the early 90’s recession, and prices are likely to start falling.
In Melbourne, where 46% of all capital city auctions were held in the 2019 calendar year, values already showed a 0.3% decline over April. This means the auction method of sale may be less popular with vendors and agents.
The easing of restrictions on auctions comes as the ABS reports that paid employment positions have fallen 7.5% across Australia, and total wages paid has decreased 8.2%.
Ultimately, being able to look at property, and bid publicly on property, does not increase capacity to buy property. The real estate industry is more likely to see a recovery when other sectors return to normal operations, and consumer sentiment lifts from its current lows.
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Understanding the auction trends during Covid-19 pandemic: Eliza Owen

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EXPERT OBSERVER
March retail trade figures released from the Australian Bureau of Statistics reporting year-on-year growth of 10.1%, were consistent with expectations of strong pre-lockdown specific category growth, whilst the majority of retailers shut their doors for COVID-19 lockdown.
The figures confirm stronger expenditure year-on-year across food (+27.2%), liquor (+33.9%) and pharmacy (+29.4%) categories, and a sales boost in household goods (+10.3%) as Australians adapted to restrictions and stocked up on additional items for lockdown.
March was the eye of the COVID-19 storm for retailers, with all but essential service retailers forced into closure of their physical stores during lockdown. Whilst that pain of closure has continued during April and into May, we have seen some gentle upside begin as many stores enhance their online and delivery services. 
Since the COVID-19 pandemic began, we have anticipated a spike in certain categories as people adjust to restrictions, but these increases mask bigger falls across discretionary categories, which has proved a significant challenge.
It’s been unquestionably tough for retailers, and the true recovery picture won’t start to emerge until physical stores reopen more fully in the coming weeks. We are likely to see a phased re-opening - retailers have different considerations some will open key stores and wait to open others. Some have cafes attached and will need to delay that area opening. Others are still negotiating with landlords.
Whilst we expect Australians to soon celebrate their freedom with one of their favourite leisure activities - shopping - we do anticipate continued caution by consumers for some months forward as they assess overall economic conditions.
Category-specific trends
While month-on-month supermarket sales are up 23% in March, these figures have confirmed our expectations of significant falls in sales across discretionary categories. Clothing, footwear, and personal accessories recorded significant falls (-22.6%).
Retailers have swiftly adapted to the new conditions, with a jump in online sales set to become the new normal.
Online sales have skyrocketed, and we expect that shopping habits we have seen will be permanent, as retailers offer new options such as kerb-side pickup and retail-to-go options.
I anticipate some enthusiasm from consumers as stores prepared for reopening, and said his desire was for the reopening to be sustainable and safe as people returned to retail stores.
The safety of customers and staff is our top priority, and retailers are making every effort to prepare a safe in-store environment. New in-store measures such as social distancing, increased hygiene and cleaning, and Perspex screens where appropriate, will be here to stay, even as restrictions are gradually eased.
ARA will release its Retail Reopening Guidelines tomorrow morning.
Monthly Retail Growth (February 2020 – March 2020, seasonally adjusted)
Department stores (-8.9%), Food retailing (24.1%), Household goods retailing (9.1%), Cafés, restaurants and takeaway food services (-22.9%), Other retailing (16.6%), and Clothing, footwear and personal accessory retailing (-22.6%).
Western Australia (9.9%), Australian Capital Territory (9.5%), Queensland (8.9%), Victoria (7.7%), South Australia (9.4%), Tasmania (8.9%), New South Wales (8.0%), and Northern Territory (11.6%).
Overall month-on-month sales growth: 8.5%.
Year-on-Year Retail Growth (March 2019 – March 2020, seasonally adjusted)
Food retailing (27.2%), Cafés, restaurants and takeaway food services (-22.6%), Other retailing (19.1%), Household goods retailing (10.3%), and Department stores (-6.6%), and Clothing, footwear and personal accessory retailing (-24.9%).
Tasmania (15.1%), Queensland (13.2%), Victoria (9.4%), Western Australia (13.5%), Australian Capital Territory (11.0%), South Australia (10.2%), Northern Territory (10.8%), and New South Wales (7.1%).
Overall year-on-year sales growth: 10.1%.
Paul Zahra is the chief executive of the Australian Retailers Association
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ARA looks towards May as start of retail recovery

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The National Australia Bank will not take into account past income from holiday rentals, Airbnb and individual room rentals when considering income on home loan applications because of COVID-19.
The banning comes amid huge disruption in the short-term lease industry, Nine Entertainment's AFR reported.
For other properties NAB is increasing "rental shading."
Its reduced assessment of a borrower's capacity to service a loan, has been increased from 20 to 30 per cent to "cover increased uncertainty related to both new and existing rental payments, potential exposed vacancy periods and reduced rental income", according to the bank.
The NAB decision has also hit existing borrowers seeking to refinance to take advantage of lower interest rates and recent special offers.
Refinancing accounts for about 70 per cent of mortgage applications, more than double the rate in recent years, according to analytics from AlphaBeta, which is part of Accenture and the illion credit bureau.
Nine Entertainment has reported last month NAB began "coaching" mortgage brokers to quiz customers about the impact of COVID-19 on their personal and business income and how to detect whether they are receiving JobKeeper payments.
Six question to elicit more detailed responses from existing home loan borrowers about the pandemic are being asked, including whether they are requesting and or receiving any support, such as a repayment pause or holiday.
Other major lenders, such as Westpac Group, recently tightened credit policies for professionals and the self-employed.
Amid warnings that the impact of COVID-19 on customers "remain highly uncertain," Westpac, Bank of Melbourne, St George Bank and BankSA will also be withdrawing the lenders' mortgage insurance (LMI) waiver for accountants, lawyers, engineers, sports professionals and the entertainment sector.
The waiver is still available for medical professionals.
However the maximum loan-to-value ratio has been reduced from 90 per cent to 85 per cent.
"We are introducing the changes to reflect recent changes to the global and domestic economic outlook as a result of the pandemic," the bank said.
PAYG (Pay As You Go) and casual employees will now require payslips no older than 14 days.
There will also be closer checks to verify payslips.
Self-employed customers will be asked to provide Business Activity Statements (BAS) no older than the last quarter. 
Some banks have announced non-inspection valuations where a physical inspection cannot take place because of virus concerns.
Valuers are required to "undertake all practical measures" to confirm the external and internal details of the property in the absence of an inspection.
Banks have also introduced virtual signing of loan documents.
Earlier this year the major lenders were rolling out offers to attract new lending or refinancingfor the start of the year's sales.
NAB was offering a $2000 new lending cash bonus and $4000 refinance cash bonus.
Westpac Bank had a $2000 cash back.
ANZ's refinancing cash backs had previously ranged from $1200 for loans between $150,000 and $250,000 and $3500 for loans of $700,000 or more.
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