<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

Off the plan

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The AFR columnist Christopher Joye has speculated the affluent Wentworth voters "might inflict massive financial losses on themselves in what is one of Australia's most investment-orientated electorates."
He was suggesting the electorate was playing dice with a Labor government and its housing policies as potentially detrimental. 
Joye noted, according to the last census, the proportion of investment properties in Wentworth is 42 per cent higher than the national average (specifically, 44 per cent versus 31 per cent of all homes).
In addition to being an electorate of landlords, there is an unusually large number of renters in Wentworth, some of whom who might welcome Aussie house prices falling 10 per cent to 15 per cent, which is "base case before factoring in Labor's policies."
Joye noted RiskWise Property Research predicts that if Labor comes to power at the next Federal Election, the situation will get much worse with house prices slumping a further 9 per cent in Sydney and Melbourne as a result of its policies to eliminate negative gearing and hike capital gains tax (CGT) by 50 per cent for anyone who holds assets for 12 months or more.
"Extensive RiskWise modelling shows that, nationally, dwelling prices would fall nine to 12 per cent should the proposed changes to tax legislation be voted through," the RiskWise authors concluded.
The report found that Labor's proposal to eliminate negative gearing would be equivalent to a 23 per cent increase in interest repayments for a new property investor, lifting theeffective annual mortgage rate from 5.10 to 6.25 per cent.
The 50 per cent increase in CGT further reduces the net present value of a property by two percentage points assuming an historically low 4 per cent rate of annual capital gains. 
Joye wrote the timing of Labor's policies could not be worse with the banking royal commission having wiped $42 billion off the value of the major banks - hammering super funds' equity portfolios - while limiting borrowers' access to credit.
"Even though Australian lenders have consistently maintained among the lowest mortgage default rates in the world, they are rationing credit to home owners because they are worried about breaching Labor's byzantine responsible lending laws, which have entangled the royal commission's activists.
"This is intensifying the correction in the housing market, which after appreciating almost 50 per cent since March 2012 has given back 4 per cent to 5 per cent of its value since October 2017 (and more than 7 per cent in Sydney).
"And with record numbers of apartments in Sydney, Melbourne and Brisbane still under construction, this pain is only likely to worsen."
Joye concluded that "the silver lining is that the bursting of the housing bubble blown by the RBA's ultra-cheap monetary policy has coincided with an economic boom fuelled by a highly competitive exchange rate and elevated commodity prices."
 
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j.ballantyne1990-6AQqhLzZaK

Off-the-plan settlement sales price pain to worsen: Christopher Joye

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<div class="cq-article-content-paras section">
Veteran South Yarra developer Michael Yates has sold his last remaining site in South Yarra.
<a href="https://www.realcommercial.com.au/property-land+development-vic-south+yarra-502792806" target="_blank">The 55 Claremont Street offering</a> was bought pre-auction by a local developer for $8.6 million.
It sold in 2014 at $6.188 million with extended settlement terms.
The 50 plus year veteran, who turned 74 this week, says he's not leaving development, but he has sub-leased his office.
The auction had been delayed twice due to disputes between Yates, his financiers and a buyer of an off-the-plan apartment in the permitted scheme who wished to proceed with their off the plan purchase. 
The site has approval for a 15-storey tower with 37 apartments. 
CBRE marketed the property in conjunction with Gorman Commercial's Jonathon McCormack and Stephen Gorman.
</div>
<div class="cq-article-content-paras section">
<div id="article-inline-ad" class="adWrapper">Yates pulled the permitted residential project last year after selling only 20 of the penthouse-style apartments.</div>
<div class="adWrapper"> </div>
<div class="adWrapper">He then offered it as an amalgamated, 969-square-metre site, with the neighbouring property owned by cleaning company AES Services boss George Haritos, but it failed to sell. </div>
</div>
<div class="cq-article-content-paras section">
"It was a problem child," Mr Yates told the Australian Financial Review last week of his decision to put it back on the market as a single site. "I've never had to pull a project on the market in 57 years."
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jchancellor-FAypfDUnLy

Michael Yates finally secures onsale of 55 Claremont Street, South Yarra

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Well presented and high-quality properties in Sydney’s west are still achieving relatively strong results, however less desirable and average quality stock is being discounted, according to the June update on residential prices by the valuation firm, Herron Todd White (htw).
It says western Sydney buyers have more options and aren’t willing to pay strong money for average stock.
Interest in new land releases, whether vacant land or house and land packages, remains steady, it noted, with developers continuing to stage releases to ensure demand remains relatively strong.
"This has resulted in a consistent level of demand for master-planned subdivisions," HTW suggested.
"We have noticed a number of settlement valuations for new units not meeting their off the plan prices when purchased during stronger market conditions, mostly in 2015 and 2016.
"Whilst mostly occurring for overseas buyers, this could trigger a flow of sales post-settlement due to difficulties obtaining nance and rental yields not meeting expectations thanks to high investor participation.
HTW gave an example in Parramatta with an off the plan sale in October 2014 of $672,000 and recent resale in March 2018 at for $630,000.
"Whilst not an indication of the wider Parramatta market, it does highlight that discounting does occur and if a large number of vendors have to offload property at the same time, it could lead to a market correction as new benchmarks are set.
"Market drivers to keep an eye on during the remainder of the year are interest rates, any tightening of lending criteria and property supply. Any signi cant increases to the cash rate may have flow-on effects to the home loan market, leading to the potential for more distressed sales as homeowners and investors may struggle to meet the larger repayments on highly geared mortgages.
"This has the potential for some pockets of Sydney to experience sharp decreases in values in the short term.
HTW warned any large volume of supply flooding a particular market sector combined with an overall slowdown, tougher lending criteria and possibly higher interest rates will eventually lead to a sharper slowing of the market.
"We believe this is more likely with high-density units as investor participation is higher and as densities increase markets can be supplied quickly."
HTW advised another area to keep an eye on for the remainder of the year was suburbs that allow dual occupancy development following the recent release of the NSW Government’s new Low Rise Medium Density Housing Code. 
"This will allow one and two storey dual occupancies, manor houses and terraces to be constructed under a fast track complying development approval.
"With duplex style development popular in some areas of western Sydney, this fast tracking of approvals may lead to more interest and participation in the market resulting in a boost to owners of blocks meeting the new minimum requirements," the June report suggested.
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Losses in Western Sydney OTP resales could trigger market correction

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COLI Australia, the property development arm of China's China State Construction Engineering, sold 60 of 120 apartments at its first project in Australia, Neue by Coli in Macquarie Park on Saturday.
The 285-apartment project sits on a corner site next to Macquarie University. COLI started in 1979 with its first project in Hong Kong, and in 2016 on Neue, its first Australian project at Macquarie Park.
Neue by Coli comprises two residential towers with DA approval for 285 apartments designed by architects SJB.
Its architectural designs see 85 percent of the apartments being on a corner position.
There were also a number of first time property buyers as well as property investors, due to the close proximity to Macquarie University, shopping centre and the railway station, managing director of Coli Australia, Jason Huang said.
“I believe being part of the world's largest development company puts buyers at ease that Coli will deliver one of the best developments in Sydney.  
"We have already achieved this around the World in London, Hong Kong, China and New York".
Current buyers in the market need the confidence and assurance that any development they buy into has the capacity to deliver, the selling agents suggested.
COLI has had more than 500 residential and commercial projects in over 60 global gateway cities.
</div>
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Neue, Macquarie Park secures strong weekend OTP sales

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Zetland - part of the Green Square precinct in Sydney's inner-ring - has been labelled as the riskiest off-the-plan suburb in 2018 in an analysis conducted by RiskWise Property Review.
RiskWise analysed more than 3000 suburbs in an attempt to identify the Top 100 Oversupply Danger Zones across the country.
It says more than 315,000 units have been approved for construction across Australia over the next two years.
Zetland tops the list, which is dominated by suburbs in Sydney and Brisbane.
There are currently nearly 600 apartments for sale in <a href="https://www.realestate.com.au/buy/property-unit+apartment-in-zetland%2c+nsw+2017/list-1?activeSort=list-date&amp;source=location-search" target="_blank">Zetland, and surrounding suburbs, on realestate.com.au</a>.
"Taking out number one spot is Zetland, a former industrial zone 4km south of Sydney’s CBD," Doron Peleg said.
"Now in an advanced stage of gentrification as part of an urban renewal project, the residential development of choice has been high-density units and apartments, with more than 5000 new units in the pipeline across Zetland and neighbouring Waterloo since 2016," the Riskwise report advised.
The Green Square urban renewal area – encompassing Waterloo, Zetland, and parts of Alexandria and Rosebery – is forecast to record a near tripling of its population from 21,000 people to more than 61,000 within 12 years.
Some, like Symphony built by Meriton, are ready to occupy.
<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/2018/2/13/green%20square.jpg" alt=""> 
Off-the-plan projects include Waterfall by Crown Group in Waterloo, four towers ranging from seven to 20 storeys. 
Natural features are centred on a tranquil internal lagoon, lush rooftop escape, tropical bamboo walk, and a 22m high cascading waterfall.
Mirvac's multi-million dollar Ebsworth building has been described as the crown jewel in the City of Sydney's Green Square development. All 174 apartments offered in Ebsworth were sold off the plan in 2015, and completed last year.
Mirvac also secured a near sell-out of Ovo, Green Square with a reported 221 of the 224 apartment Ovo apartments sold in 2015, with an expected completion by early 2018.
Ovo comprised six open plan one bedroom apartments, 46 one bedroom apartments, 152 two bedroom apartments, and 20 three bedroom apartments located at the northern end of Green Square Town Centre.
First home buyers paid $700,000 plus for one-bedroom apartments without parking in what will be the tallest Green Square Town Centre tower.
<table style="height: 278px; width: 725px;" border="0"><tbody>
<tr>
<td>State</td>
<td>Post code</td>
<td>Suburb</td>
<td>New units in next 24 months</td>
<td>New units next 24 months as % of units</td>
</tr>
<tr>
<td>NSW</td>
<td>2017</td>
<td>ZETLAND</td>
<td>2332</td>
<td>39.8%</td>
</tr>
<tr>
<td>NSW</td>
<td>2121</td>
<td>EPPING</td>
<td>2460</td>
<td>42%</td>
</tr>
<tr>
<td>NSW</td>
<td>2142</td>
<td>HOLROYD</td>
<td>3184</td>
<td>853.6%</td>
</tr>
<tr>
<td>NSW</td>
<td>2762</td>
<td>SCHOFIELDS</td>
<td>1389</td>
<td>754.9%</td>
</tr>
<tr>
<td>QLD</td>
<td>4000</td>
<td>BRISBANE CITY</td>
<td>3201</td>
<td>38.5%</td>
</tr>
<tr>
<td>QLD</td>
<td>4006</td>
<td>FORTITUDE VALLEY</td>
<td>1040</td>
<td>23.6%</td>
</tr>
<tr>
<td>QLD</td>
<td>4101</td>
<td>SOUTH BRISBANE</td>
<td>2145</td>
<td>49.7%</td>
</tr>
<tr>
<td>SA</td>
<td>5000</td>
<td>ADELAIDE</td>
<td>1720</td>
<td>20.1%</td>
</tr>
<tr>
<td>VIC</td>
<td>3006</td>
<td>SOUTHBANK</td>
<td>2212</td>
<td>12.5%</td>
</tr>
<tr>
<td>WA</td>
<td>6000</td>
<td>PERTH</td>
<td>1151</td>
<td>13.7%</td>
</tr>
</tbody></table>
There are three suburbs from Queensland that make the top 10.
Adelaide, Melbourne's Southbank and Perth have also been pinpointed as the highest risk across the rest of the country.
Brisbane was always likely to be a contender as one of the high risk, particularly with the likes of the RBA and BOQ highlight their concerns for the amount of apartments.
Riskwise suggest :inner-ring demand doesn’t extend to units" with CBD units delivering poorer capital growth than units in the middle ring. 
It cites prime examples of poor growth as Melbourne’s Southbank, and Fortitude Valley in Brisbane, with negative growths of 1% and 4.8%, respectively.
"In 2017, more than 5300 units were completed in Brisbane, with another 11,000 in construction. 
"What we’re currently seeing on the market is a lot of incentivised advertising, from offers of full furnishings included to a free car on settlement," Riskwise advised.
"A significant number of new developments have led to very high supply of units in NSW, VIC, QLD and WA.
"In many areas inside these states, there has been major oversupply, inflicting significant losses on investors.
"High supply in our major cities, particularly in the CBDs, has often impacted capital growth and rental returns, leading to the instatement of lending restrictions.
"The strength of the units market must be assess on the suburb by suburb basis.
"This slowdown is likely remain at least in the medium term."
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Zetland the riskiest off-the-plan suburb in 2018

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Figures compiled by realestate.com.au show that searches for Australian property by Chinese-based property seekers fell 15 per cent nationally last year.
Sydney searches were down more than 30 per cent and Melbourne down over 10 per cent.
"The biggest drops were in the last quarter of 2017," REA Group chief economist Nerida Conisbee told Fairfax Media.
"I think a lot has to do with taxes introduced last year, sentiment towards Australian property in general and perhaps a slowdown in the construction cycle meaning less to buy.
"Chinese capital controls are perhaps also making an impact – fewer Chinese developers may be impacting buyers." 
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Chinese property searches for Sydney property down 30 percent on realestate.com.au

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Delayed demolition works in the Melbourne CBD after an objection by the owner, have triggered the sales of 556 off the plan apartment buyers being cancelled by its Singapore-based developer.
Developer Chip Eng Seng bought a commercial tower at 150 Queen Street in 2011 with plans for a 71 storey project, known as Tower Melbourne.
It has become one of the first cancelled buildings in Melbourne, with the group now considering its options for the thwarted site.
The decision, announced to the stock exchange in Singapore, comes amid the broader local concerns about the mooted outlook for apartment market oversupply.
Demolition works on the original building have stalled since 2013 after an objection by the owner of an adjoining property at 140 Queen Street worried the demolition might damage its property.
Chip Eng Seng said the legal cases “may still take a considerable period of time” and it was “not possible for the company to ascertain when they can be resolved” nor when demolition could restart.
The group could not meet its deadline to register the plan of subdivision due to the delay, so advised the appropriate course was to terminate all sales contracts.
Some 579 units had been sold, but some buyers had already cancelled their contracts due to the delay.
Some 556 contracts remained with full buyers’ deposits set to be repaid in full with any interest accrued.
Construction of Melbourne’s envisaged highest residential tower was due to start in 2013 with an expected completion date of late 2016.
The CEL development was to come with a 25-metre pool, spa, sauna, steam room and a gym.
One-bedroom apartments in Tower Melbourne had a starting price of $381,000.
Two-bedroom apartments start from $492,000 and three-bedroom apartments start from $763,000.
The skyscraper had been designed by local architects Elenberg Fraser.
“Tower Melbourne is a city defining project,” says Callum Fraser, principal of Elenberg Fraser said at the time of its launch.
“If you take a high-rise tower and add a twist, we have a continuously evolving form and the result is a luxurious living sculpture,” he said.
Property Observer first <a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/developments/singapore-developer-cheeky-for-selling-unapproved-melbourne-cbd-high-rise-project-off-the-plan-lord-mayor/2012101657194">reported on the problematic development in October </a>2012 when the Singapore developer was selling apartments, despite not yet receiving planning approval from then Victoria Planning Minister Matthew Guy.
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Tower Melbourne stuck in demolition dispute, so 556 off the plan contracts cancelled

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Sydney was riding the spring racing fervour, with strong buyer demand evident for the latest off the plan apartment offering at Randwick on Saturday.
And Melbourne's embrace of the 13th season of The Block saw big crowds turn up at the inspections of the five Elsternwick house offerings.
The relocated and extended homes were open for the first time on Sunday with queues extending along Regent Street.
The upcoming October 28 auctions have come with indicative sale prices between $2.4 million and $2.64 million, although market commentators have suggested previously the homes ought fetch $3 million.
The first stage of the Newmarket Randwick project sold out - all 124 apartments mostly to owner occupiers for a $175 million total.
Known as <a href="https://www.newmarketrandwick.com.au/?gclid=EAIaIQobChMIr_mc2-Pz1gIVxgRoCh3_zQ9IEAAYAiAAEgJP6fD_BwE" target="_blank">Newmarket Residences</a> (above), the two eight storey proposed buildings were designed by Bates Smart taking inspiration from the nearby heritage Newmarket House and the grand old stable buildings on the site.
Some of the buyers in the conversion of the former Inglis thoroughbred sales complex went onto The Everest race day.
During the four hours sales session, a three-bedroom apartment sold at the top $2.8 million price. Prices for one-bedroom apartments started from $780,000, two-bedroom apartments from $1,200,000 and three-bedroom apartments from $2,200,000. There were 54 x one bedroom apartments, raging between 51sqm- 70sqm; 62 x two bedroom apartments, 73sqm- 93sqm and 12 x three bedroom apartments, 114sqm- 137sqm.
The Cbus Property development will have 642 apartments and terraces on its 2020 completion after the five-hectare site was secured for a reported $250 million in 2015.
The site had accommodated up to 620 horses and included a 1000 person arena used regularly for major horse sales.
William Inglis &amp; Son Ltd, the 150-year-old family business had secured the site for £50,000 in 1917, but sold after shifting to new headquarters near Warwick Farm Racecourse in south-west Sydney.
Meanwhile Sydney’s preliminary auction clearance rate was 69.5 per cent across 916 auctions, after last week saw the final 61.3 percent clearance rate fell to the lowest level since late 2015.
"This is likely to revise lower over the next few days as more results are collected," CoreLogic auction analyst Kevin Brogan said.
This time last year, Sydney auction volumes were similar, although the clearance rate was much stronger at 81.4 per cent.
The Eastern suburbs (81.5 per cent), North Sydney and Hornsby (81.0 per cent) and Northern Beaches (80.7 per cent) had the highest clearance rates.
Sydney's Bronte secured the top weekend sale across the nation with a pre-auction sale of <a href="https://www.realestate.com.au/sold/property-house-nsw-bronte-126425298" target="_blank">a $6.43 million contemporary home</a>.
Architect Michael Folk captured the essence of beach house luxe, selling agent Alexander Phillips at Phillips Pantzer Donnelley said.
But Domain's senior economist Dr Andrew Wilson decreed the boom-time results of recent years have now clearly ended.
"Although home prices are now falling, the underlying drivers of the Sydney housing market remain positive with strong migration, a robust local economy and an underlying chronic shortage of homes," Dr Andrew Wilson, the Domain senior economist added.
The national auction clearance rate held firm, buoyed by stronger results across the Melbourne and Canberra housing markets, according to CoreLogic.
There were 2,497 auctions held across the combined capital cities, up from 2,318 last week.
So far, 2,007 results have been reported to CoreLogic, returning a preliminary clearance rate of 70.6 per cent, increasing from last week when the final clearance rate slipped to 64.4 per cent, the lowest clearance rate since January 2016.
Over the corresponding week last year, auction volumes were similar, with 2,443 properties taken to auction, while the clearance rate was stronger at 76.2 per cent.
Melbourne's 74.8 per cent success rate was the nation's strongest, followed closely by Canberra on 74.5 per cent. 
Melbourne was host to 1,208 auctions and with 1,042 results sits above the prior weekend's final clearance rate of 70.3 per cent.
At the same time last year, Melbourne’s clearance rate was 77.7 per cent across 1,182 auctions.
Of the Melbourne sub-regions, 6 of the 9 regions recorded clearance rates above 75 per cent.
Melbourne's top sale was $6.37 million at Middle Park. <a href="https://www.realestate.com.au/sold/property-house-vic-middle+park-126443678" target="_blank">The 307 Beaconsfield Pde offering</a> was sold without heritage overlay through Greg Hocking Holdsworth agent Simon Gowling.
Both the Inner South and the North West Melbourne regions recorded a preliminary clearance rate of 78.8 per cent this weekend, followed by the Outer East region where 76.7 per cent of auctions cleared.
 
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Race to buy Newmarket Randwick off the plan highlight of weekend sales

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Property developer Tim Gurner says demand from investors has "stopped, not just slowed."
He told The Australian Financial Review that a drop off in Chinese off-the-plan investors would reduce supply of new apartments - and mean that prices and rents would go up.
"We need 16,000 new apartments a year in Melbourne and this will be the first year we meet that target. But we'll only get 5000 next year," he said.
With demand from investors having stopped, following the recent removal of off-the-plan stamp duty concessions, Mr Gurner said he was happy to be now developing apartments for local owner occupiers at the high end of the market.
He said downsizers had been the most significant demographic shift into the new apartment market that he had seen as a developer in recent times.
He has a $65 million Toorak development.
Prices in Mr Gurner's six-level Hawksburn Village project will start from $1.1 million for a two-bedroom apartment rising to more than $3 million for a three-bedder and over $10 million for the biggest 400 square metre-plus top floor penthouse. 
The project at 162-164 Williams Road, which recently received planning approval, is being developed in partnership with landowners the Smorgons whose Escor Group occupy premises on the site.
There will be 22 apartments plus ground floor commercial space to be occupied by Escor Group alongside an upmarket wine bar.
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Melbourne apartment investor demand has stopped, not just slowed: Tim Gurner

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Around 14 buyers who bought apartments off the plan in a tower in Sydney's south-west at discounted prices are now facing the loss of their investment.
It comes after the developer defaulted on a loan from a British Virgin Island lender.
The home buyers, described by the Australian Financial Review as mostly Mandarin speakers, all with Chinese names, are considering legal action.
It comes after Hua Cheng International Holdings Group, the developer of the 100-unit Royal Plaza property in Woodville Street, Hurstville, defaulted on a loan to Chinese-backed Super Vision Resources.
In July, Super Vision appointed Ernst &amp; Young and Hall Chadwick as receiver and liquidator.
They have now seized the 14 apartments that were purchased off the plan at a big discount, along with another 16 unsold apartments. 
The property know as 2 Barratt St and 18-22 Woodville St, Hurstville.
When the 14 buyers paid for their discounted apartments in 2013, they paid for them in full, but did not received title. 
Some of the buyers hired lawyers before they bought the apartments and were warned not to buy them.
Lawrence Xu, the chief executive of Hua Cheng, told the paper that he was unable to get development and construction finance from the big four local banks but found $35 million from British Virgin Islands registered Super Vision. They agreed on a interest rate of 15 per cent.
Super Vision is a subsidiary of the state-owned Chinese financial services firm, China Orient Asset Management Corporation, based in Beijing.
Mr Xu blamed the lender for the default, the AFR reported.
He ran into cost overruns and the funds that arrived five months late.
Paying down the loan to Super Vision, Hue Cheng said that in 2013 it sold 14 two-bedroom apartments at a discounted price of $450,000 to the 14 Chinese buyers who paid upfront. 
The normal sale price was $650,000 to $700,000 each, World Square Property Group said.
The buyers said they were looking at the role of both the lender and the developer in this mess. 
"We want to chase these two parties for justice," one buyer said.
Interest rates vary depending on the risks of projects from standard rates of about seven per cent for apartment loans up to 20 per cent for development loans.
The receiver and liquidator declined to comment.
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