<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

Gold Coast

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Professional surfer Sally Fitzgibbons has purchased a two bedroom apartment in the Gold Coast's beachside Jewel development, paying an undisclosed sum.
Two bedroom apartments in the three-tower project are selling for around $1.5 million with one-bedroom units not he market for around $700,000.
She told the Gold Coast Bulletin she had been hunting for a property investment after selling her “bachelorette pad” in Minnamurra last year.
“The Gold Coast will always have a warm place in my heart, so it’s only fitting it has a place in my property portfolio as well,” she said.
Jewel’s joint developers, Dalian Wanda Group and partner Ridong Group, have launched a second stage of 102 apartments for sale. The development is slated to have 512 residential apartments, a 169-suite five-star hotel, three levels of car parking with 812 spaces, plus retail and dining precincts when completed in 2019.
Lucas Wilson, Jewel director of sales and marketing said the developers are partnering with her Fitzgibbons to create a new surfing contest, the International Women’s Surf Classic in November.
For more information, <a href="https://www.jewelgc.com" target="_blank">click here</a>.
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jonathanchancellor-7SQnKwU6yx

Pro surfer Sally Fitzgibbons buys Jewel, Gold Coast apartment

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A caveat is blocking the sale of the $100 million Gold Coast Sheraton Mirage resort.
The Queensland government has issued a caveat temporarily blocking the sale to help class action lawyers seeking to take control of it in the interests of Indian investors.
In 2009, before its collapse, India’s $10 billion failed Pearls Ponzi scheme brought more than $100 million of the scheme’s money to Australia, buying the Sheraton Mirage
Barrister Niall Coburn, a former investigator with the Australian Securities &amp; Investments Commission who is running the class action with Shine Lawyers, told The Australian the Queensland government registrar of titles had lodged a cav­eat.
The Federal Court in Brisbane will decide this week whether to grant a longer-term caveat over the properties.
A 92-page originating applic­ation filed by the class action lawyers details some of the devastation wrought by the Pearls scheme and its founder, Nirmal Singh Bhangoo, now in an Indian jail.
Pearls, was spruiked in India by Australian cricketer Brett Lee, who was paid $300,000 for his services.
It promised investors huge ­returns if they invested in land parcels across India.
In 2014 Pearls Group, the New Delhi based property group was accused of allegedly duping Indian investors by promising agriculture land in a so-called $10 billion ponzi scheme.
The India CBI registered a case of criminal conspiracy and cheating under Sections 120B and 420 of IPC against Pearls Group managing director Nirmal Singh Bhangoo, his two companies Pearls Agrotech Corporation Limited (PACL) and Pearls Golden Forest Limited (PGFL) and their director Sukhdev Singh.
The CBI claimed the documents recovered by it during searches at the premises of Delhi-based business groups PACL and PGF show they allegedly used ponzi scheme to cheat nearly five crore investors of Rs 45,0000 crore.
It is an associated New Delhi-based Pearls Group that paid $62 million for the Sheraton Mirage in 2009. It was the Christopher Skase-built resort on Queensland's Gold Coast. 
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jchancellor-FAypfDUnLy

Gold Coast Sheraton Mirage caveat stops Pearls Group sale

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The Wagner construction clan, one of Queensland's richest, have snapped up an apartment in the Gold Coast tower, Soul.
The Toowoomba family paid $2.7 million for the 46th floor, four bedroom sub-penthouse that traded at $3.8 when bought in 2013 by the Sherrin family in the Juniper development.
This article was first published in The Weekend Australian.
 
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Henry Wagner buys into Soul

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Property investors looking for an apartment for under $500,000 on the central Gold Coast are spoilt for choice according to the property valuation firm, Herron Todd White.
HTW's residential market report for July said potential buyers will need to be aware of body corporate costs, sinking fund balances and any extraordinary works however noted apartments under $500,000 can be purchased no more than 150 metres away from the beach.
"In this price bracket, two-bedroom units at Mermaid Beach would be a property our valuers recommend due to the beach being no more than 150 metres away, Pacific Fair’s recent upgrade and the lively café and bar scene.
"While there are many options available to purchasers with $500,000 to spend in the northern corridor growth suburbs of Pimpama and Coomera, if looking to invest money of my own, I’d be looking at more central Gold Coast areas in close proximity to the beach.
"This is partly due to the vast amount of new stock currently being developed or scheduled for development, as well as the over inflated prices charged for house and land packages which are the most common property type in this area.
"Detached dwellings still appear to be a better investment than units with agents reporting investors buying dwellings for land banking purposes in areas such as Labrador and Southport. These areas have possibly peaked for shorter term consideration. Investors in this case are looking for properties with higher density development potential for example duplex approved sites with dwellings that provide some holding return."
Property Observer found a two bedroom, two bathroom unit for sale on Mermaid Beach<a href="https://www.realestate.com.au/property-unit-qld-mermaid+beach-119994605" target="_blank"> for between $279,000 to $309,000</a>.
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Coastline Gold Coast unit purchasers still spoilt for choice under $500,000: HTW 

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Apartments on the Gold Coast are at the peak of the market cycle according to the June property clock from Herron Todd White.
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Units in Dubbo, Newcastle and Melbourne are also at the peak.
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According to HTW, a boom is unlikely given the current state of play, and bust is not expected provided prices do not continue to grow through to 2018. 
"During a boom market the last sector to see gains has historically been acreage housing and old highrise units. It is also not unusual for these two sectors to be the rst to stall as the market slows, which is the case according to our current experience," HTW said.
"There is a hive of activity around Southport in the Priority Development Area with a number of new mediumrise residential buildings either recently completed or under construction. 
These buildings are offering compact style units which have mainly appealed to investors at attractive price points around $400,000. These units are renting out between $420 and $470 per week and have quite manageable Body Corporate fees of around $50 per week. 
"Agents have been reporting that older established units (duplex and townhouses) are spending more time on the market than six months ago and this could be attributed to the new affordable stock available in Southport and Biggera Waters. 
HTW reported the apartment market for central Melbourne has started to soften for the first part of 2016, with a 0.5 percent drop in unit prices for the first quarter of 2016, including a fall of 0.9 percent in March, according to CoreLogic. 
"Based on figures provided by the REIV, Melbourne CBD had a 17.2 percent drop in the median unit price while Docklands had a 6.7 percent increase in the median price and Southbank had a 6.3 percent median price rise," HTW said.
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 HTW also noted Melbourne houses are now at their peak.
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Gold Coast apartments at top of the property cycle: HTW

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The Gold Coast City development CityVillage has secured an $185 million sell-out.
Some 201 terrace homes have sold at CityVillage for an average of $550,000 since its launch to the market in late 2013.
The final terrace home sold off-the-plan last week for $569,000 to a local owner-occupier.
The dual tower Bohème Apartments, which is more than 80 per cent sold, now represents the final opportunity to secure a place in the sought-after CityVillage community.
The Robina Group sales manager Azura Griffen said CityVillage had been one of the developer's most successful projects in its 36-year history, with one stage of terrace homes selling out in just 48 hours.
CityVillage was recently recognised at the prestigious Urban Development Institute of Australia (UDIA) awards as the top medium density development in Queensland and was a finalist nation-wide.
It offered terrace housing on individual titles.
Griffen advised low vacancy rates and high rental demand had made Robina one of the city's most in-demand suburbs.
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Award-winning CityVillage, Robina, sells out

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A small shop in Gold Coast’s Broadbeach is up for lease and would ideally suit a fast food eatery.
The property at 6/2723 Gold Coast Highway is being marketed by Raine &amp; Horne’s David Task.
Spread over 44 sqm, the property has a partial fit-out and includes a cold room and exhaust canopy. It is available from August 1.
Fronting Gold Coast Highway, the property has great exposure. It is also opposite the Convention Centre and Light Rail station
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Fast food outlet in Gold Coast's Broadbeach up for lease through Raine & Horne

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A 1930s era trophy home near Tamborine Mountain, northwest of the Gold Coast, has been sold by Tony and Christina Quinn, who bought Darrell Lea confectionary out of administration.
Their Tamborine Mountain Great Gatsby-style eight-bedroom house fetched around $5.5 million through Robert Graham and Michael Willems of Ray White Prestige Gold Coast. 
The mansion at 46-54 Curtis Road, Tamborine Mountain, was bought by a retired couple.
The Quinns, who started the VIP Petfood manufacturing chain, <a href="https://www.realestate.com.au/property-house-qld-tamborine+mountain-108663471" target="_blank">bought the partially completed property</a> in 2011 from receivers for $1.25 million.
The median price for a home in Tamborine Mountain is $502,500, according to CoreLogic.
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Tamborine's Great Gatsby trophy home sale

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The Ultra Tune owner Sean Buckley has listed his redundant Gold Coast penthouse for June 15 auction.
<a href="https://www.coastal.com.au/2954348/" target="_blank">The sprawling 573 sqm northern unfurnished penthouse</a> in Aria cost Buckley $2.7 million when bought late last year from the Smith family of Balwyn.
Set over two levels, the Sunland-built apartment has four bedrooms, four bathrooms and a private rooftop terrace with a 15 metre lap pool and a 10 person sauna.
Aria's southern penthouse was once owned by Athena Starwoman and husband John Demartini.
Buckley is the executive chairman of Ultra Tune which is an Australian car service franchise with over 270 outlets across Australia. 
He also owns Ultra Thoroughbreds, a primary and pre-training equestrian stud which has had huge success, particularly with Shamus Award who won the Cox Plate in 2013 and the Australian Guineas in 2014.
The marketing of the apartment by listing agent Tolemy Stevens of Harcourts Coastal suggests that the apartment was acquired as part of a large commercial deal and was surplus to requirements. 
This article was first published in the Weekend Australian Mansion Australia property section.
 
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Aria, Gold Coast penthouse offering

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Gold Coast estate agency Raine &amp; Horne Mermaid has merged with former rival LJ Hooker Mermaid and appointed Anthony Steinberg as new principal.
Raine &amp; Horne Mermaid will operate from 2485 Gold Coast Highway, Mermaid Beach, with former principal Kae Beadman staying on as a sales agent.
Steinberg said local apartments are attracting a 5 percent yield and out of area investor enquiry has spiked by 15 percent over the last couple of months. 
“The Gold Coast is one of the hottest property markets in the country at the moment, with days on market running at less than 14 days," he said.
“The Commonwealth Games is creating plenty of good consumer and business sentiment at a time when real estate values and lower yields in Sydney and Melbourne have local and overseas investors focusing on the Gold Coast."
Mr Steinberg, who was with his previous real estate group for 12 years, said large contingents of Chinese and Korean buyers are making their presence felt.
"They are being enticed by the Gold Coast’s lifestyle and education opportunities, afforded by the expanded Bond and Griffith university campuses, new hospitals and better transport infrastructure," he said,
Angus Raine, executive chairman, Raine &amp; Horne said the merged entity will have much greater market presence than the two smaller offices enjoyed and this will offer a broader choice of real estate solutions and expertise to owner-occupiers and investors.
"After 27 years in the area, it’s pleasing that Kae Beadman has decided to stay on in a sales role and I’m sure her knowledge and familiarity with Raine &amp; Horne will be a significant help to Anthony, who is a Mermaid Beach local. It’s a combination that I’m sure will make a significant mark on the local real estate market.”
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