<a href="https://www.apartments.com.au/developers/sunland-group">Sunland Group</a> has officially lodged plans for its first Gold Coast apartment project since the official departure of the Abedian family from the company three years ago, unveiling a new high-rise proposal for a prominent Broadbeach corner site on Old Burleigh Road.

The entity that submitted the plans is directed&nbsp;by Tom Jamieson, stepson of longtime Sunland leader Soheil Abedian, and Riaz Rezvanipour, brother-in-law of Sahba Abedian, Soheil's son.

Sunland paid $9.5 million for the 1,283 sqm site on the corner of Old Burleigh Road and Armrick Avenue late last year, and are now seeking to build a <a href="https://www.apartments.com.au/new-apartments/99-101-old-burleigh-road-broadbeach-qld-4218">42-storey tower with 81 apartments</a>.

<img alt="First look: Sunland Group returns to Broadbeach with new Old Burleigh Road tower plans" data-entity-type="file" data-entity-uuid="fea2946d-90ee-4cfc-babe-2a8ad5db2cb6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers.png?VersionId=BV0fihJw31nDIQ8ozY_h3GbS8mxDyhnm" />

Designed by <a href="https://www.apartments.com.au/architects/contreras-earl-architecture">Contreras Earl Architecture</a>, the proposed tower at 99-101 Old Burleigh Road would deliver a predominantly larger-format apartment mix aimed at the owner-occupier market. Plans include 17 two-bedroom apartments, 55 three-bedroom apartments, and nine four-bedroom residences across 35 residential levels.

The development also incorporates three basement levels, four podium parking levels, two levels of communal recreation facilities, and rooftop plant and equipment. A total of 189 car spaces are proposed, significantly exceeding the 90 spaces required under the planning scheme.

The architecture adopts a sculpted, curvilinear form, with deep wraparound balconies and integrated landscaping intended to soften the tower’s vertical expression. The planning report states the building’s “slender footprint/form provides a complimentary yet varied built form within the local streetscape” and contributes to “a varied, yet ordered skyline.”

Contreras Earl noted in its Architectural Statement that from the early stages, the project addressed a fundamental challenge: how to accommodate the required residential yield while avoiding the conventional model of a tower sitting on a rigid, fully resolved parking podium.

“The most direct response would have been to consolidate parking into a singular, flat podium and extrude a repetitive tower above,” the statement said. “While efficient, this approach would result in a consolidated built form with limited engagement with the surrounding landscape and public realm.”

Instead, the conventional podium model was “deliberately rejected”. The architects described the base of the building as “a landscaped architectural condition where structure, planting and circulation are integrated”.

“Rather than presenting a continuous built mass, the base of the building is articulated through a series of concrete planter elements that organise the podium into a fragmented system,” the statement said. “This approach reduces the perceived bulk of the lower levels while establishing a more permeable interface with the streetscape and adjacent open space.”

<img alt="First look: Sunland Group returns to Broadbeach with new Old Burleigh Road tower plans" data-entity-type="file" data-entity-uuid="9b5ace00-dd04-4875-a2dc-1b7583c2da24" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_2.png?VersionId=GfaTxcd9XPo3IZ.jP9pGjYYrmx7i7iCQ" />

The site sits within the High Density Residential Zone and inside the City of Gold Coast’s unrestricted “HX” building height area, where the planning framework anticipates intensified residential development tied to the expanding light rail corridor. The planning report notes the area is undergoing “transition toward more intense development forms” given its proximity to Broadbeach, Surfers Paradise, and high-frequency public transport infrastructure.

Positioned directly opposite Broadbeach Park and within walking distance of Florida Gardens light rail station, the development would sit among a rapidly evolving stretch of Old Burleigh Road that has become one of the Gold Coast’s most active apartment development corridors.

The application joins a growing pipeline of luxury residential projects reshaping Broadbeach, including nearby developments by 5Point Projects, Polycell, and Graya.

The planning report argues the project contributes toward the Gold Coast’s long-term housing targets under the South East Queensland Regional Plan, which forecasts the need for more than 100,000 additional high-rise dwellings across the city by 2046.

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The Abedian family departed Sunland Group in late 2023, ending a four-decade association with the company, and subsequently established the private development firm Abedian &amp; Co. The group is currently delivering <a href="https://www.apartments.com.au/new-apartments/greenmount-residences-cnr-hill-street-and-marine-parade-coolangatta-qld-4225">Greenmount Residences</a> at Rainbow Bay and recently launched <a href="https://www.apartments.com.au/new-apartments/18-mary-avenue-14-18-mary-avenue-broadbeach-qld-4218">18 Mary Avenue</a> in Broadbeach.
</section>

Joel Robinson

First look: Sunland Group returns to Broadbeach new apartment market with new Old Burleigh Road tower plans

The Minns Labor Government has established the new Bays West Delivery Authority to lead the development&nbsp;of the Bays West Precinct and Blackwattle Bay Precinct.&nbsp;

The Authority is charged with creating Sydney’s newest precinct, a thriving, connected, sustainable hub with White Bay Power Station as its cultural heart. Its vision is to build on the area’s natural, cultural and industrial history to shape a vibrant new neighbourhood.

The precinct will deliver up to 8,500 well-located homes, including a minimum of 10 per cent affordable and essential worker homes. Combine new housing with public open space, opening public access to the waterfront for the first time in more than 100 years, while retaining important deep-water facilities to support Sydney’s working harbour.

Located just minutes from the Sydney CBD and connected to a world-class metro, ferry, walking and cycling links, the Bays West precinct will rebalance housing growth towards well-serviced inner-city locations and help tackle the state’s housing crisis.

The Bays West Delivery Authority,&nbsp;an agency of the Department of Planning, Housing and Infrastructure, will report to the NSW Minister for Lands and Property who already has oversight of major precinct renewal projects including at Blackwattle Bay and Barangaroo.

As part of the broader Bays West transformation, the Minns Government recently announced that a proposal from Lendlease to redevelop part of the Bays West Precinct has progressed to Stage 2 of the NSW Government’s unsolicited proposals process.

<img alt="Sydney" data-entity-type="file" data-entity-uuid="2ed71eb9-d8e8-4fa7-b9d1-de4531dcf2f3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%209.42.31%E2%80%AFAM.png?VersionId=IDryFIbped9SNDg72LEN_EecvhUsOPvp" />

The Minns Labor Government has also confirmed the Bays West precinct will have a new suburb name. This will be the first major suburb built in close proximity to Sydney’s CBD in decades and will encompass the area currently being referred to as Bays West, including Glebe Island and the White Bay Power Station. Served by a new Metro station just five minutes from the CBD, it will become one of the most populous suburbs in the Inner West and one of Sydney’s premier cultural destinations.

An early works program is taking shape, which&nbsp;includes the first stages of an international design competition.&nbsp;

The aim of the Bays West&nbsp;International&nbsp;Design Competition is to&nbsp;ensure design excellence is embedded in the project from the start. The competition will deliver an&nbsp;urban framework that defines the character, ambition and long-term identity of&nbsp;this&nbsp;former industrial precinct as it transitions to a vibrant, inclusive and sustainable residential&nbsp;neighbourhood.

The competition will be led by the Bays West Delivery Authority in partnership with Government Architect NSW.&nbsp;

It will launch with an invitation for a global Expressions of Interest, before moving to an invitation-only stage that will be assessed by a panel that&nbsp;will provide advice to Cabinet who will select a winner.

Premier of NSW, Chris Minns said the establishment of the new Authority is the first step in transforming the Bays West precinct into a vibrant, livable suburb minutes from the Sydney CBD and two stops from Hunter St Station on the Metro West line.

“The Authority will deliver well-located homes close to the heart of the city and integrate the new precinct with Blackwattle Bay and the new Sydney Fish Market.

“This is a generational opportunity to build a new suburb on the city’s edge and open the harbour foreshore to the public for the first time in a century.”&nbsp;

Minister for Lands and Property Steve Kamper said the new Bays West Delivery Authority established by the Minns Government will turbocharge the development of Sydney’s newest suburb.

“The Authority is working at a record pace to deliver an international design competition, planning pathways and a financial model so that this development benefits Sydney with well-designed homes in a central location, close to public transport, jobs, entertainment and essential services.

“If we want Sydney to stay liveable and affordable, we need to be bold about using underutilised government-owned land to deliver homes for the future while making sure essential working harbour functions can be accommodated.”

Bays West Delivery Authority established to "turbocharge" Sydney’s newest suburb

Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.

A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.

Renewal SA Acting Chief Executive Shane Wingard said he welcomed the code amendment, with the increase in heights and homes making a positive impact on the supply of high-quality, well-connected housing close to the city.

“By going higher across some parts of Southwark Grounds, we are adding a substantial number of very well-located homes with little impact on project delivery time or planned open space,” Mr Wingard said.

Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.

“The very strong early interest we’ve seen since homes were first released in the precinct reinforces our plans to create more housing opportunities,” he said.

The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.

It proposed increasing maximum building heights from eight to 14 storeys on the eastern section of Southwark Grounds, and to 12 storeys across the remainder of the site, with minimum building heights ranging from two to four storeys.

The code amendment was implemented through an Early Commencement policy in late January, allowing developers to quickly explore the viability of increased height and housing yield while other planning processes continue.

One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.

Samaras’ development adjacent to the future Colonel Light Park is now planning to deliver 125 apartments across 11 storeys, significantly greater than original plans of around 50 apartments across four storeys.

The developer is also exploring the potential for additional affordable housing outcomes.

Most of the apartments at Southwark Grounds will be delivered within a master-planned precinct on a large parcel of land on the eastern portion of the site, covering around two-thirds of its 8.4 hectares.

Wingard said detailed precinct planning over the coming months may identify further opportunities to increase yield further that could see total apartment numbers at Southwark Grounds, exceed this number.

Affordable homes at Southwark Grounds will also see a net increase, with Renewal SA maintaining its commitment to a minimum of 20 per cent affordable housing across the development.

&nbsp;

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Civil works have begun across the site, with construction under way on the first new roads surrounding a townhouse precinct in the south‑west corner of Southwark Grounds. This includes Renewal SA’s 17 Founder’s Row homes, which are on track for completion by Christmas.

“We expect to have people living at Southwark Grounds by the end of the year, so delivering roads and public spaces for those residents is among our highest priorities.”

Construction of 40 townhouses off Anderson Street, known as West Village and being delivered by Contour, is forecast to begin in mid‑2026. Kolabb’s Anderson Lane development will follow shortly after, delivering a further 26 townhouses.

Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.

Homes will be supported by a supermarket, a range of retail and hospitality offerings anchored by a revitalised Walkerville Brew Tower, a childcare centre, car parking and well‑connected public spaces.

400 new homes planned for Adelaide's former West End Brewery site

Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/cavcorp">Cavcorp</a> has lodged plans for a new mixed-use residential development at <a href="https://www.apartments.com.au/new-apartments/55-wyandra-street-teneriffe-qld-4005">55 Wyandra Street</a>, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.

The buildings, known as Teneriffe House and Teneriffe Lane, would replace the existing Queensland Cotton head office site with a 15-storey residential tower transitioning to eight storeys toward Helen Street. The project has been designed by Plazibat Architects and lodged as a code assessable development application for 93 apartments across a 3,401 sqm mixed-use site within the Newstead and Teneriffe Waterfront neighbourhood plan.

Central to the scheme is the transformation of an existing service easement into a publicly accessible cross-block connection linking Wyandra and Helen Streets. Cavcorp says the new laneway will act as both a pedestrian shortcut and a landscaped civic space between the Teneriffe Riverwalk, ferry terminal, and Gasworks precinct.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="26e7f058-b065-4de8-b13d-a2b8cb64dfcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bldg.png?VersionId=sELS0ZKYi361oYipUa1BIKfe_.DLZoFV" />

“The revised proposal delivers a legacy public-realm cross-block link, permanently secured for community use, transforming an existing private easement into a safe, high-quality pedestrian connection between the Teneriffe heritage riverwalk and the Gasworks–Long Island precinct,” the planning report states.

The laneway will sit beneath a large subtropical loggia integrated into the podium levels of the development. The design incorporates deep landscaping, water gardens, lobby spaces, business lounges, and ground-floor apartments to create what Cavcorp describes as a climate-responsive “urban verandah.”

The tower itself has been designed as a slender form with recessed floorplates and curved translucent corners inspired by contemporary Japanese architecture. The building height aligns with the Commercial Road precinct controls, which permit towers up to 15 storeys within proximity to Longland Street.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="a8a17d40-43b6-4718-b3fd-67676fcbb485" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_1.png?VersionId=i3VwDtp5AmL_8InW7w4qRbDFEpb744Jt" />

The project will comprise a mix of larger-format apartments aimed at owner-occupiers, downsizers, and families. The proposed apartment mix includes 11 loggia apartments across the lower levels, 50 four-bedroom Sky-Terrace apartments from levels three to seven, and 32 Sky-Pool Homes occupying the upper tower levels. The Sky-Pool Homes will feature private thermal plunge pools integrated into oversized balconies.

According to the application, the apartments are intended to reinterpret the scale and character of Teneriffe’s woolstore conversions and Queensland homes within a vertical residential format.

“The sky-pool homes build on Cavcorp’s previous projects and introduce a distinct apartment typology to Teneriffe, informed by both local and international precedent and responding to an identified market demand for enhanced safety, space and amenity,” the planning submission notes.

A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.

Amenities proposed include a rooftop Swim &amp; Racquet Club with a 25-metre Olympic lap pool and tennis court, coworking spaces and libraries, golf simulators, wine storage, concierge facilities, business lounges, pet wash areas, and rooftop longevity-focused wellness spaces with spas, outdoor fitness zones, and landscaped terraces.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="944b352c-49b9-4247-a4c6-5967b4b69fda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenity.png?VersionId=Ed_qKjAtMwFT.5gfl3jiA9QwdWxSMsaX" />

All parking will be concealed within basement levels accessed from Wyandra and Helen Streets. Cavcorp says the deep-basement engineering approach allows the entire ground plane to prioritise landscaping, pedestrian movement, and active frontage rather than vehicle infrastructure.

The development continues Cavcorp’s concentration in Newstead and Teneriffe, where the Brisbane developer has delivered a number of apartment projects including Lucent, Le Bain, and Luminare, as well as the Long Island Wellness Precinct nearby. Several of those projects have received national design and architecture awards, including recognition under Brisbane’s “Buildings that Breathe” program.

Cavcorp unveils wellness-focused Teneriffe House and Teneriffe Lane apartment buildings

Focus Group Investments has lodged plans for a new apartment development at <a href="https://www.apartments.com.au/new-apartments/64-70-hanover-street-fitzroy-vic-3065">64–70 Hanover Street</a> in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.

The proposal is among the latest developments to emerge through the state-led initiative, which was established to fast-track well-designed residential projects in activity centres and transport-connected inner-city locations. The pathway allows qualifying developments that meet elevated design and housing benchmarks to bypass traditional council planning timeframes and instead be assessed directly by the Department of Transport and Planning.

Designed by SJB, the development will comprise a mix of apartments above activated lower levels, with a strong focus on architectural articulation, landscaping, and communal amenity. The design response seeks to balance the industrial character of Richmond’s former warehouse precincts with a more contemporary residential form.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="abea51cc-d85b-479e-9aef-a589f3b37ca7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ground.png?VersionId=e1Kf8EyPWwyiVumtqQ4rM5S4GpOR3CCz" />

Proposed are 63 new dwellings, a wide ranging mix of studio, one-, two-, and three-bedroom apartments, and townhouses and duplexes. They will be spread across a part-three, part-eight storey building.

The Planning and Urban Context Report by Tract says the development is of an "exemplary architectural standard" and has been carefully crafted by SJB Architects.

"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.

The architectural material highlights the project’s integration of landscaped elements and communal spaces throughout the building. The proposal also incorporates sustainability initiatives aligned with the Victorian Government’s push for higher-performing apartment developments under the fast-track program.

The Great Design Fast Track was unveiled by the Victorian Government in 2024 as part of a broader housing supply strategy aimed at accelerating the delivery of new homes. Projects assessed through the pathway must demonstrate high-quality architecture, sustainability outcomes, and housing diversity while being located close to public transport and existing infrastructure.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="afdbe834-8dc4-4a77-a943-ba07bc927348" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_11.png?VersionId=0J657j.TaChAZfp93wqJYBTqSsnREJx2" />

Focus Group, founder and led by Paul De Lutiis, is increasingly active across Melbourne’s inner suburbs, targeting well-connected urban renewal locations suited to medium and higher-density residential development. The Fitzroy proposal continues that strategy, leveraging the area’s strong transport links, established retail amenity, and proximity to the CBD.

Fitzroy has been one of the most popular spots for developers and buyers in recent years. The likes of PACE Development Group, SMA Projects, Crema Group and Chapter Group, currently selling projects in the suburb.

First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Fitzroy apartments

Melbourne

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The <a href="https://wp.architecture.com.au/news-media/national-building-agreement-welcome-now-focus-on-action/">Australian Institute of Architects</a> is calling for a fundamental overhaul of building regulation to improve compliance and accountability. 
At the moment, Australian regulation and building codes lack transparency and as we have seen in the recent events, do little to protect residents and homeowners. 
Currently, anybody can procure and construct an apartment building in Australia without evidence of education, experience or insurance held where previously, independent and rigorous checks would oversee the design, materials choice and construction to ensure the utmost safety and sustainability for residents. Over the years this compliance has decreased to prioritise cost-saving over quality and is a reflection of our quick supply and demand culture. 
Countries such as <a href="https://www.building.govt.nz/building-code-compliance/">New Zealand</a> have a building code compliance that all builders must comply with even without building consent to ensure the safety and durability for everyone that uses them. New Zealand builders must abide by the technical guidance by the Building Code of 2004 with strict warnings and bans in place which could see the builder or developer paying a fine of up to $200,000 for which all buildings must focus on:

<ul>
<li>General Provisions</li>
	<li>Stability</li>
	<li>Protection from Fire</li>
	<li>Access</li>
	<li>Moisture</li>
	<li>Safety of Users</li>
	<li>Service and Facilities</li>
	<li>Energy Efficiency</li>
</ul>
Japan’s strict building regulations may be due to protecting citizens from the incredible amount of seismic activity the country experiences but are incredibly helpful when considering updating and strengthening Australia’s as bans on combustible building materials is much more closely regulated than here.

 

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/neo_apartment_screen_peter_clarke-54.jpg" rel="gallery-all" title="In early February 2019, Neo200 on Spencer experienced a balcony cladding fire up levels 21 to 27. Image by Hayball."><img alt="" class="image-article-full-width-580px" height="870" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/neo_apartment_screen_peter_clarke-54.jpg?itok=PQvzB5Fo" title="In early February 2019, Neo200 on Spencer experienced a balcony cladding fire up levels 21 to 27. Image by Hayball." width="580"></a>

<figcaption>In early February 2019, Neo200 on Spencer experienced a balcony cladding fire up levels 21 to 27. Image by <a href="/architects/hayball">Hayball</a>.</figcaption></figure>In late 2018, Victoria banned lethal flammable building cladding, which includes aluminium panels. 
The ban provides builders with a clear and strict guideline of materials that can and cannot be used in the construction of buildings above two levels high. 
The VBA, <a href="https://www.vba.vic.gov.au/">Victorian Building Authority</a> has put builders on notice, as they inspect the hundreds of at risk buildings in a statewide audit to crack down on non-compliant structures. 
Architects and developers design buildings and communities with the intent of enriching the lives of people and the environment in which it stands, therefore building codes in Australia need to match that intensity with strict regulation and inspection to ensure the well being of all people. 
In recent news, residents of <a href="/buildings/australia-108-southbank-70-southbank-boulevard-southbank">Australia 108</a> respond in panic due to hearing cracking noises, power outages and lift operating failures. Since the first settlers took residence in the soon to be 101 story tower in late 2018, there have been a slew of complaints regarding construction noise and construction defects within apartments such as windows not closing or opening due to the curved facade. 
These stories have now either been exacerbated by the media to take advantage of panicked citizens to incite fear and sell papers or forcing builders and developers to take accountability and be more transparent about their building practices.  
With articles published in The Age and Herald Sun displaying the latest apartment building disasters, people are on high alert in fear their building's too, falls under the same underegulated practices. What holds true to these statements is that resident’s voices deserve to be heard with their safety and quality of life at the utmost importance.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image_by_worzil_skyscrapercity.jpg" rel="gallery-all" title="Most updated construction image of Australia 108 by worzil of Skyscrapercity.com"><img alt="" class="image-article-full-width-580px" height="547" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/image_by_worzil_skyscrapercity.jpg?itok=wP1ehTRH" title="Most updated construction image of Australia 108 by worzil of Skyscrapercity.com" width="580"></a>

<figcaption>Most updated construction image of <a href="/buildings/australia-108-southbank-70-southbank-boulevard-southbank">Australia 108</a> by worzil of Skyscrapercity.com</figcaption></figure>Multiplex denied any structural damages in a statement and said the building is bound to move slightly as it is still under construction and minor defects are quickly fixed with absolutely no risk to residents.  
These complaints of noise are common with residents within and surrounding high density skyscrapers under construction and are not permanent. 
A multiplex representative states that “all residents have access to the Multiplex onsite customer team and our onsite service team has been working closely with the residents to rectify these items in a timely manner.” 
A benefit to the exposure of towers such as Opal in Sydney and its defects is that consumers and citizens are conscious and have opened up a dialogue with government about the loosened regulations and building codes our individual states hold. 
The next step is to hold builders accountable and to provide transparency with VBA and other councils alike in order to adhere to the highest quality of building and ensuring the safety of residents and communities. 
As work commences in Victoria establishing a ban on all flammable materials used in construction, a push for other councils and states is imminent and blatantly necessary. 
The Australian Institute of Architects are taking their demands of an industry revolution to VBA and multiple councils across New South Wales insisting on addressing the root of the issue, a culture and practice that has put time and cost above quality.  
This construction industry crisis facing Australia are systemic and it is crucial to make those steps forward to eradicate unlawful practices.

 

Read their latest article demanding industry revolution by clicking this <a href="https://wp.architecture.com.au/news-media/nsw-president-says-our-construction-industry-needs-nothing-short-of-a-revolution/">link</a>.
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Nick Dante

Australia called, we want our Building Codes updated and regulated

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Melbourne's weekend auction market had its highest clearance rate since 2017 with the CoreLogic figures showing a 74 per cent success rate. 
It reflected a substantial boost on Melbourne’s recent clearance rates which have consistently been in the 60 per cent range for the past eight weeks.
But despite the improved market conditions the 119 year old Footscray and District Angling Club didn't snag a buyer for its Yarraville base.
The shopfront building at <a id="LPlnk294376" class="OWAAutoLink" href="https://www.hockingstuart.com.au/property/70-pentland-parade-yarraville-vic-3013-159361" target="_blank">70 Peatland Parade</a> - with fish and mermaid murals on its facade (pictured) - was passed in on a $750,000 vendor bid after just one earlier bid.
Hocking Stuart Yarraville agent Leo Dardha advised a $780,000 reserve had been set.
There had been $790,000 to $820,000 price guidance for the 180 sqm premises marketed as poised for conversion.
The fishing club members met monthly to discuss “where we’ve been fishing, what fish  we’ve caught, what bait and lures we’ve used, and club business”, its president Lucky Pavlidis told The Herald Sun.
The club plans to move its headquarters somewhere closer to the water while staying in the western suburbs.
Melbourne had the nation's cheapest sale, but it represented a loss for the vendor.
<img src="https://www.urban.com.au/images/2019/7/29/Alma%20Street%20apartment.JPG" alt="">
The $215,000 studio apartment was sold pre-auction at <a id="LPlnk178875" class="OWAAutoLink" href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/apartment/vic/melbourne-inner-south/st-kilda-east/411522" target="_blank">37/87 Alma Rd, St Kilda East</a> (pictured above).
It was offered with a $200,000 to $220,000 price guidance having sold at $255,000 in 2013 and $228,100 in 2009.
It was offered as a $280 a week rental last last year.
Commentators attribute the overall market improvement to factors including low auction volumes, the RBA Governor Dr Philip Lowe advising rates would be staying low for a while, along with the restored confidence since the federal election was decided.
Melbourne's highest sale was in Murrumbeena at $2.265 million.
<a id="LPlnk848257" class="OWAAutoLink" href="https://www.propertyobserver.com.au/https://www.jelliscraig.com.au/property-details-11-Wahroongaa-Crescent-Murrumbeena-3163/808849" target="_blank">The 11 Wahroongaa Crescent</a> offering through Jellis Craig was a four bedroom 1920s residence.
CoreLogic noted a 78.5 per cent preliminary clearance rate was recorded across Sydney, making it the best performing capital city.
There were 391 Sydney homes taken to auction up on the week prior when 303 homes were auctioned.
Sydney's final prior week success rate had been 72.8 per cent.
Across the smaller auction markets, Adelaide was the best performing with a preliminary clearance rate of 56 per cent, while only 14 per cent of Perth homes sold at auction.
Canberra secured a 55 percent success rate and Brisbane got a 41 percent clearance rate.
There was a pre-auction sale on the Gold Coast when $5.5 million was paid for a newly built opulent<a id="LPlnk989489" class="OWAAutoLink" href="https://www.realestate.com.au/property-house-qld-sovereign+islands-131469114" target="_blank" rel="noopener noreferrer"> six-bedroom, seven bathroom mega-mansion</a> on the Sovereign Islands.
Its luxury inclusions at <a id="LPlnk692437" class="OWAAutoLink" href="http://www.prestigepropertyagent.com.au/property/10706228-the-sovereign-mile-sovereign-islands-qld/" target="_blank">85 The Sovereign Mile</a> included a "presidential master suite," an underground entertainment den, vertical garden and pool.
Ivy Wu, at Amir Mian Prestige Property Agents’ Ivy Wu, sold the house to a local family. 
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There were 1,115 homes taken to auction across the combined capital cities, up from the 896 homes auctioned last week.
The national preliminary auction clearance rate sat at 71.2 percent after last week’s 65.4 per cent final clearance rate.
Over the same week one year ago 1,536 were taken to auction.
The highest residential sale across the capital cities was in Sydney where <a id="LPlnk418464" class="OWAAutoLink" href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house/nsw/upper-north-shore/wahroonga/411079" target="_blank">79 Junction Road, Wahroonga</a> fetched $3,360,000 through McGrath.
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The five bedroom 2004-built home last sold in 2005 at $1.63 million.
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jchancellor-FAypfDUnLy

Melbourne scores highest auction success rate in two years

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A retail investment opportunity in the Northcote Plaza in Melbourne’s inner northern suburbs is on the market. 
The property, shop 30, comprises a single level retail shop with a 98 sqm of floorspace.
Plaza Deli has a three year lease expiring March 2021 at a current rental of $47,336 per annum with 4 per cent annual rent reviews. 
According to marketing agents, Teska Carson’s Fergus Evans and Adrian Boutsakis, the property presents an opportunity for purchasers to acquire a secure investment property located within a successful and vibrant mall.  
Shop 30 benefits from its position in a centre anchored by Coles and Kmart, along with 60 specialty retailers including national brands OPSM, Specsavers and Bank of Melbourne.
The centre has 900 plus car spaces and operates with a catchment of five to six million customers per year.  
The property will be auctioned August 16.
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j.ballantyne1990-6AQqhLzZaK

Northcote Plaza shop in inner northern Melbourne listed

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There are certainly opportunities in the current 2019 market to pay less than the last price.
But is there really such a thing as buying a bargain when it comes to property? And where are they?
This series of articles looks are specific examples of sale price or asking price falling. 
We take a look at where and if possible why this is happening.  
We came across this property for consideration.
The first resale in Victoria One, the Golden Age on Elizabeth Street, Melbourne has sold for a small loss.
Brand new, with construction completed in 2018, it was sold after just 67 days on the market.
Rita Lin of Melcorp Real Estate marketed the listing.
Situated at <a href="https://www.realestate.com.au/sold/property-apartment-vic-melbourne-130288586" target="_blank">1409/462 Elizabeth Street</a>, the property traded for $520,000 in late March.
The two bedroom one bathroom apartment holds 55 sqm of internal space.
Located on the 14th floor, the unit boasts full windows which gives west-facing views of the Queen Victoria Market.
Victoria One, the Golden Age offers residents facilities which include a pool, spa, gym &amp; recreation area, garden retreat, poker room, communal lounge, communal kitchen and dining, library and business centre, plus a rooftop cinema on the 76th floor.
Architect Elenberg Fraser designed the 645 unit complex which was developed by the Golden Age Group.
Last sold off-the-plan, the apartment traded for $526,500 in April 2014.
<img src="https://www.urban.com.au/images/2019/7/19/The%20Golden%20Age%202.png" alt="">
<div class="image-wrapper">Property Observer advise that it is up to you to determine if the offering is a truly beneficial bargain.</div>
<div class="image-wrapper">
Remember buying at the bottom of the cycle is fraught – as you can't really precisely pick the bottom nor know just how long until you see some price growth.
Be aware you could be buying a poor quality property in an area with ongoing issues of oversupply of stock.
The oversupply could be also putting downward pressure on rents.
Other price declines could be because the vendor needs a quick sale or paid way over the top on its last purchase chase.
Property Observer suggests property purchasing really does need to be a very well considered proposition with a long term mindset.
As a part of this series, we've already had a look at properties in <a href="/expert-insights/buying/bargain-property-at-mount-eliza-home-at-2-million-discount">Mount Eliza</a>, <a href="/expert-insights/buying/bargain-property-in-central-geelong-sale-price-dips-after-one-year">Central Geelong</a>, <a href="/expert-insights/buying/bargain-property-in-east-perth-near-new-apartment-makes-150-000-loss">East Perth</a> and <a href="/expert-insights/buying/bargain-property-in-sydney-olympic-park-apartment-listed-at-180-000-value-discount">Sydney Olympic Park</a>.
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Bargain property in the Melbourne CBD? First Victoria One Elizabeth Street resale makes loss

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Melbourne house prices have followed the Sydney market downturn, with an estimated 15% drop from a December 2017 peak to June 2019.
Despite lower interest rates and the easing in credit market conditions, high levels of supply will keep a lid on prices in 2019/20, according to the BIS Oxford Economics Residential Property Prospects 2019 to 2022 report. 
However, as dwelling completions fall away rapidly from 2020/21 price growth is expected to return, particularly given Melbourne’s strong population outlook. 
A more constrained lending environment, particularly towards investors, is expected to contain total growth in the median house price to 7% in the three years to June 2022, the firm said. 
With new supply more concentrated in the unit sector, the report said a more moderate aggregate rise of 4% is forecast for unit prices over the same period.
<a href="https://www.propertyobserver.com.au/images/2019/7/15/BIS%201.jpg" target="_blank">Click here</a> to enlarge:
<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/2019/7/15/BIS%201.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2019/7/15/BIS%202.jpg" target="_blank">Click here</a> to enlarge:
<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/2019/7/15/BIS%202.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2019/7/15/BIS%203.jpg" target="_blank">Click here</a> to enlarge:
<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/2019/7/15/BIS%203.jpg" alt="">
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Melbourne dwelling price growth expected to return from 2020/21: BIS Oxford Economics 

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Hub Australia, Australia’s largest privately owned coworking provider, has opened its third Melbourne CBD coworking space, Hub Parliament Station.
Located at 1 Nicholson Street in the ICI House, also known as the Orica Building, Hub Parliament Station totals 2,757 sqm across three levels (levels 16, 17 and 18)
Hub Parliament Station will accommodate over 500 members with MitchelLake Group, ClearPoint Counsel and The Bravery Trust each leasing space at the coworking site.'
The newly opened location is Hub Australia’s sixth, with its footprint now totalling 23,000 sqm across Australia.
ICI House was constructed in 1958 and considered one of Australia’s first skyscrapers with this year marking its 60th anniversary.
<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/2019/7/3/Hub%20parliament%202.jpg" alt="">
Designed by Bates Smart, the space underwent a multi-million dollar refurbishment to create a coworking space with Palm Spring-like influences
Over five tonne of custom breezeblocks are used throughout, in screens, walls and joinery, referencing the existing concrete waffle slab and ground floor lobby brickwork.
Hub Parliament Station offers its members access to a range of workspaces including bespoke offices for up to 14 people, private offices, open plan dedicated and flexible desks, break out areas, high-tech meeting and event spaces.
Additional amenities include a fully serviced café operated by Hub Australia’s dedicated in-house hospitality team, large serviced meeting rooms, member kitchen and lounge, fitness space, end-of-trip facilities with towel service, parent and wellness rooms.
A media studio is also made available to all members which includes a full suite of podcasting equipment as well as the latest in Virtual Reality equipment.
<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/2019/7/3/Hub%20parliament%203.jpg" alt="">
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Hub Australia opens first skyscraper coworking space, Hub Parliament Station in Melbourne

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The Andrews Government is set to establish Cladding Safety Victoria.
It will oversee the removal of combustible cladding from buildings to make them safe.
The word of the new government body emerged on 3AW, which did not advise on the means of the funding of the removal.
Property Observer gathers Cladding Safety Victoria (CSV) will act as a "one-stop-shop for advice and assistance to the community in relation to the removal of combustible cladding."
It will provide funding for owners to help them fix their building’s cladding by providing guidance, funding and connections to the right experts who can fix their buildings.
It will select the buildings for rectification after an expert panel review with recommendations made to the Municipal Building Surveyor.
It will support building owners by providing funding for:
<ul>
<li>Project Management support</li>
<li>Draughts people or Architectural Services</li>
<li>Building Surveying</li>
<li>Permits and approvals</li>
<li>Building materials and work</li>
</ul>
It is not known if there will be a levy on the building industry to fund the new government section within the Victorian Building Authority.
Initial emergency orders have been issued on some apartment blocks. The rectification is likely to take up to six years before all apartments are deemed safe.
Currently the rectification process centres around the implementation of Cladding Rectification Agreements (CRAs), a three-way voluntary agreement between an owner or owners corporation, lender and council to fund cladding rectification works. The lender will loan the funds to an owner or owners corporation and loan repayments will be made over time through the council rates system.
There is a cladding taskforce currently seeking to review the extent of the problem after Melbourne’s Lacrosse apartment towers caught fire in 2014.
The Lacrosse block was completed in 2012. LU Simon was ordered to pay $5.7 million to the owners of apartments of the Lacrosse tower earlier this year.
Initially up to 1400 Victorian buildings could have reportedly had potentially dangerous panelling according to the Victorian Cladding Taskforce, chaired by former premier Ted Baillieu and former deputy premier John Thwaites.
Created in 2017 after the London Grenfell fire, it is set to report in coming weeks.
The taskforce audit inspected 1,800 buildings and already identified 71 as "extreme" risk and 368 as "high" risk.
There are around 800 on the list with the search still underway. The cladding has been used by builders for the past two decades.
The councils with the most apartment blocks at risk are:
<table id="cladding-map-data" class="dataTable no-footer"><tbody>
<tr class="odd">
<td>Moreland City</td>
<td class="sorting_1">145</td>
</tr>
<tr class="even">
<td>Melbourne City</td>
<td class="sorting_1">64</td>
</tr>
<tr class="odd">
<td>Port Phillip City</td>
<td class="sorting_1">59</td>
</tr>
<tr class="even">
<td>Monash City</td>
<td class="sorting_1">55</td>
</tr>
<tr class="odd">
<td>Stonnington City</td>
<td class="sorting_1">41</td>
</tr>
<tr class="even">
<td>Glen Eira City</td>
<td class="sorting_1">35</td>
</tr>
<tr class="odd">
<td>Greater Dandenong City</td>
<td class="sorting_1">30</td>
</tr>
<tr class="even">
<td>Boroondara City</td>
<td class="sorting_1">28</td>
</tr>
<tr class="odd">
<td>Bayside City</td>
<td class="sorting_1">22</td>
</tr>
<tr class="even">
<td>Yarra City</td>
<td class="sorting_1">22</td>
</tr>
<tr class="odd">
<td>Moonee Valley City</td>
<td class="sorting_1">21</td>
</tr>
<tr class="even">
<td>Darebin City</td>
<td class="sorting_1">19</td>
</tr>
<tr class="odd">
<td>Banyule City</td>
<td class="sorting_1">17</td>
</tr>
<tr class="even">
<td>Knox City</td>
<td class="sorting_1">16</td>
</tr>
<tr class="odd">
<td>Kingston City</td>
<td class="sorting_1">11</td>
</tr>
<tr class="even">
<td>Frankston City</td>
<td class="sorting_1">8</td>
</tr>
<tr class="odd">
<td>Manningham City</td>
<td class="sorting_1">8</td>
</tr>
<tr class="even">
<td>Surf Coast Shire</td>
<td class="sorting_1">8</td>
</tr>
<tr class="odd">
<td>Whittlesea City</td>
<td class="sorting_1">8</td>
</tr>
<tr class="even">
<td>Wyndham City</td>
<td class="sorting_1">8</td>
</tr>
<tr class="odd">
<td>Casey City</td>
<td class="sorting_1">7</td>
</tr>
<tr class="even">
<td>Maribyrnong City</td>
<td class="sorting_1">7</td>
</tr>
<tr class="odd">
<td>Greater Geelong City</td>
<td class="sorting_1">6</td>
</tr>
<tr class="even">
<td>Hobsons Bay City</td>
<td class="sorting_1">5</td>
</tr>
<tr class="odd">
<td>Maroondah City</td>
<td class="sorting_1">5</td>
</tr>
</tbody></table>
There was a fire in early 2019 at the <a href="/news/fire-at-neo200-spencer-street-melbourne-reignites-apartment-cladding-concerns">Neo200 Spencer Street building</a> which was a significant incident which had the potential to be very serious.
In Victoria, residents have a 10-year period to claim on the builders' warranty under the Domestic Building Contracts Act. 
The Victorian Government has previously budgeted money to fix government buildings with combustible cladding, but not private dwellings.
It has been estimated the removal costs across Australia could be of the order of $6.8 billion.
 
 
 
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Cladding Safety Victoria to be established by Andrews Government

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Co-working office spaces increased by nearly 300% in the last five years, with Melbourne holding the largest share.
Co-working office space is one of the fastest growing segments of the commercial leasing market, the latest report by Herron Todd White (HTW) noted.
Research shows the number of co-working spaces in Australia grew by 297% between 2013 and 2017, occupying 193,190 square metres across six cities.
Melbourne holds the largest concentration of co-working spaces with 49% followed by Sydney with 38%.
"We expect this segment of the market to continue growing strongly," the HTW report noted.
Melbourne CBD’s overall office vacancy rate has reduced to 4.6% over the six months to January 2018, according to the Property Council of Australia’s Office Market Report.
Melbourne CBD is now level with Sydney CBD, together showing the lowest vacancy rates amongst all of Australia’s CBDs.
According to the latest report from HTW, the reduction in vacancy is primarily due to the high net absorption rate of prime Melbourne CBD office stock.
The North-Eastern and Docklands precincts have the lowest vacancy rates at 1.5% and 1.2% respectively, while vacancy rates are highest in the Western and Spencer precincts, reflecting vacancy rates of 6.6% and 8.2% respectively.
There is limited new prime office supply in the CBD due for completion over the next two years before the large increase of supply forecast for 2020.
Therefore, it is anticipated that vacancy rates will continue to fall over 2018 and 2019 before rising again in 2020.
The report suggests the market will see potentially sharp rental growth over the next two years as well as a decline in incentives, before levelling out again from 2020.
Strong demand is continuing for good quality office properties and properties with value-add or redevelopment potential within the Melbourne CBD, Metro and St Kilda Road office markets.
This is primarily due to the lack of suitable stock on the market and weight of capital seeking limited investment opportunities in this segment of the market.
The two recent sales in the CBD this year, 470 Bourke Street and 454 Collins Street, both achieved strong results.
470 Bourke Street, the headquarters of The Law Institute of Victoria, sold subject to a short-term leaseback for more than $35 million.
The nine-storey office building with excess land to the rear was purchased by an offshore investor with a capital value rate of circa $10,500 per square metre which reflects the balance land of 368 square metres.
454 Collins Street, an 11-storey C grade building situated at the corner of Collins and Williams Streets, was sold to a Macau investor for $40.1 million on a sharp fully leased yield of 4.21%.
The property was sold subject to a single-tenant leaseback to Robert Christie’s national co-working business on a 10-year term.
The valuation firm suggests that market yields are firming for well located investment grade assets exhibiting sound fundamentals, such as strong lease profiles and limited capital expenditure requirements.
The report suggests that investor demand is particularly strong for assets in the vicinity of $5 million to $50 million within the CBD and inner suburban locations.
The new statutory revaluations will be conducted as at January 2018 and valuations will be released as part of the FY2018/19 council rates notices and 2019 Land Tax assessments.
The valuers estimate that council site values will continue to increase across the CBD owing to strong capital growth over the past two years since the last Council revaluation in January 2016.
The potential rise in site values implies higher council rates and land tax costs which may impact upon the cash flow of landlords, especially where properties are subject to gross leases.
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Melbourne holding the largest share of nation's co-working office spaces: HTW 

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Melbourne Connect, delivered by the University of Melbourne in partnership with a consortium led by Lendlease, is set to create a mixed-use hub at the site of the former Royal Women’s Hospital.
Located on the corner of Grattan and Swanston Streets, Melbourne Connect will see industry, researchers, students, government and the community co-locate and collaborate.
Melbourne Connect will be home to the Melbourne School of Engineering as well as the Science Gallery Melbourne, which will showcase experiments and exhibitions from artists, scientists and researchers.  
In addition, it will create a vibrant hub for Carlton and the broader Melbourne community with shops, cafes, public spaces and interconnected laneways, providing pedestrians with direct access to Swanson, Grattan and Cardigan Streets. 
Ground floor retail spaces will also accompany the development, with eight spaces to be offered to tenants.  
CBRE’s Zelman Ainsworth, Jason Orenbuch and Tan Thach have been appointed to exclusively market the retail spaces and will be launching the campaign in July.  
Mr Ainsworth said, “the ultimate drawcard is the large amount of university students, however, Melbourne Connect is not restricted by university schedule – we see this as a 52-week precinct,” Mr Ainsworth said. 
Although the retail campaign has not officially been launched, CBRE stated that they had received strong interest for the ground floor opportunities, situated below office spaces, childcare and co-working space.  
Lendlease Development Director Emma Woodhouse said the project is attracting an increased amount of attention and interest, both domestically and internationally.
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Melbourne Connect drawing interest domestically and internationally

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EXPERT OBSERVER
As Melbourne’s record population growth continues unabated, so too does a property revolution in the urban-regional perimeter surrounding the city.
Recent years has seen Victoria’s regional and peri-urban markets evolve to be increasingly similar to the rest of metropolitan Melbourne, with trends observed in the city becoming more pronounced on its perimeter as a range of factors reshape market relationships.
These include population growth, declines in affordability, changing patterns of employment, new infrastructure and the level of maturity (or how established a market is).
By comparing price and land size trends in metropolitan Melbourne and several key regional and peri-urban markets (including those in the Greater Geelong, Surf Coast, Moorabool and Baw Baw municipalities), we can identify current and emerging trends that can provide developers and property buyers with superior insights.
Recent data suggests that over the past few years there has been a significant change in the relativities between prices and sizes across different land markets with prices generally rising faster in metropolitan and large regional cities, while reductions in land sizes generally were greater in peri-urban markets.
To enlarge, <a href="https://www.propertyobserver.com.au/images/2019/6/20/HUME1.jpg" target="_blank">click here</a>.
<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/2019/6/20/HUME1.jpg" alt="">
For example, median prices rose strongly in metropolitan Melbourne (57 per cent) and Greater Geelong (51 per cent) over the period 2014 to 2019.
In Geelong’s case (and the Surf Coast to an extent), strong price growth has been driven by increased integration with Melbourne’s western region (especially the Wyndham and Melton municipalities) and significant improvements in transport connectivity between Melbourne and Geelong.
Peri-urban and regional locations such as the Moorabool (mostly Bacchus Marsh) and Baw Baw (mostly Warragul) municipalities experienced lower, but still significant, price growth of 38 per cent and 34 per cent respectively relative to metropolitan. 
To enlarge, <a href="https://www.propertyobserver.com.au/images/2019/6/20/HUME2.jpg" target="_blank">click here</a>.
<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/2019/6/20/HUME2.jpg" alt="">
Price growth for peri-urban areas was also higher than traditionally has been the case due primarily to these locations’ increased integration with metropolitan Melbourne and higher population growth.
Although forecasting prices is difficult, we could expect price growth of at least this magnitude, if not higher, in the future as these locations becoming increasingly integrated with Melbourne.
In markets with generally larger lots (especially peri-urban areas which are also less mature and established), the adjustment process has been via a relatively sharper reduction in land sizes (compared to prices).
To enlarge, <a href="https://www.propertyobserver.com.au/images/2019/6/20/HUME3.jpg" target="_blank">click here</a>.
<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/2019/6/20/HUME3.jpg" alt="">
For example, the median lot size declined by 18 per cent in Moorabool and 19 per cent in Baw Baw from 2014 to 2019.  This was greater than the decline observed in metropolitan Melbourne, Greater Geelong and the Surf Coast.
Looking ahead, we expect to see further reductions in lot sizes across all markets, with peri-urban markets potentially seeing the greatest decrease as markets converge.
However, while the fundamentals are in place for continued land price increases in key metropolitan and regional city markets over the medium to long-term, peri-urban markets might also exhibit greater price growth than they have in past as they converge with other markets.
George Bougias is the national head of research at Oliver Hume.
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