<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

Auctions

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EXPERT OBSERVER
When live auctions were banned due to the health crisis, the number of auctions dropped dramatically with a double hit coming from a broader drop in listing volumes.
Yesterday, there were 137 auctions scheduled in Sydney and 110 scheduled in Melbourne, representing a significant drop compared to this time last year – and auction numbers were already very low due to the 2019 federal election.
While clearance rates only look at a very small portion of the market, the big spike in the New South Wales clearance rate last weekend to 77% is perhaps proof that buyer activity remains strong and that buyers are more comfortable buying in-person than online. This theory is also supported by increased levels of buyer enquiry and search activity on <a href="https://www.realestate.com.au/buy" target="_blank" rel="noopener noreferrer">realestate.com.au.</a>
This weekend, the clearance rate hit 72% in New South Wales and 70% in Victoria.
Restrictions on overseas travel could be a boon for domestic tourism
Australians love overseas travel, spending more money overseas ($58.3 billion) in 2019 than foreign tourists spent in Australia ($44.6 billion).
With borders shut due to the COVID-19 pandemic, that $58.3 billion will stay in Australia and it’s likely a fair proportion of it will be spent on domestic travel. Once domestic travel is up and running again, we may even get close to the $80.7 billion spent on domestic overnight travel last year, or perhaps even exceed that figure.
Tourism Research Australia provides a high level of detail on where both domestic and overseas tourists like to travel. In every part of Australia, domestic tourists spend more than overseas tourists except in one location – Sydney.
If our travel patterns remain consistent, then the area that will benefit most from a domestic tourism boom will be Melbourne, followed by Sydney and Brisbane. The regional areas that will benefit include the northern coast of New South Wales, Gold Coast and Sunshine Coast.
Domestic tourism could surge on Queensland’s Sunshine Coast after COVID-19.
There is a lot of uncertainty about whether domestic travel patterns will remain consistent. Can Melbourne continue to offer the sporting and cultural events it is so famous for in this environment? Will some states continue to maintain border closures?
The rate of domestic tourism will also depend on marketing expenditure – big campaigns may get us all travelling to the outback, the Limestone Coast or the Fleurieu Peninsula.
Banks are flush with cash but access to funding isn’t easy
The one positive in this downturn is that we are not in a financial crisis. Our banks are well capitalised and, at this stage, are not weighed down by bad debt.
Nevertheless, according to mortgage brokering business Smartline, the banks are being very cautious and taking measures to:
1.Tighten lending policies including discounting of non-core income such as bonuses, casual income and overtime and;
2. Introduce more questions and forms to mitigate losses from people who have been impacted by COVID-19;
3. Meanwhile, Smaller lenders who are less able to weather the storm are being even more cautious – some have even lifted interest rates – and service levels are now varying greatly – those that have relied on off-shore lending operations seem far more heavily impacted. Insurers are also being much stricter.
While access to funding isn’t easy, it hasn’t dented demand for home loans and many people are looking to refinance to get a better deal. Total submissions for home loans through Smartline have increased 21% while settlements have increased by 8%.
NERIDA CONISBEE <a href="https://www.realestate.com.au/news/author/nerida-conisbee/" target="_blank">is the chief economist for the REA Group</a>
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j.ballantyne1990-6AQqhLzZaK

Return of live auctions is great news for Australian property: REA's Nerida Conisbee

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The number of homes scheduled for auction continues to trend lower, with only 365 auctions to take place this week, lower than the 480 auctions last week, according to CoreLogic data.
CoreLogic noted that while most states have lifted the ban on onsite auctions and inspections, it’s likely to take a few weeks before we see an uplift in scheduled volumes.
This is due to vendors and agents generally relying on at least a four week marketing campaign leading up to the auction event.
There are 110 Melbourne homes scheduled for auction this week, down on the 163 held last week.
Sydney is expected to be the busiest auction market for another week, with 167 scheduled auctions this week, down on the 216 held last week.
Brisbane &amp; Perth are the only capital city auction markets expected to see an increase in volumes over the week, with volumes lower across Adelaide and Canberra. Tasmania has no scheduled auctions this week.
The capital city final auction clearance rate came in at 59.9% last week, the highest final result seen since Mid-March.
<img src="https://www.urban.com.au/images/2020/5/14/CL%20May%2010.JPG" alt="">
Of the 395 results collected last week, 22% were withdrawn which was much lower than the 50% seen a few weeks ago, which is the main factor in the improvement of clearances rates.
The number of ‘sold prior’ results was also slightly lower this week, however still remain higher than we would usually see with 43.8% of properties selling prior to the scheduled date.
During this weekend last year there was a 65% clearance rate from 359 auctions held in Melbourne, according to the REIV.
The REIV is expecting about 130 auctions in 97 suburbs this week.
The highest volume auction locations this week are Craigieburn with 4 scheduled auctions. Mount Waverley, Lara, Albert Park, Coburg, Templestowe, Burwood East, Caulfield South, Mulgrave and Pascoe Vale follows with 3 listings in each.
An example of the auction volume in Craigieburn this weekend is 1 Yorkshire Terrace.
The three bedroom, one bathroom home is described as the ideal first house in the marketing material.
It comes with a price guide of $435,000.
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Auction volumes down despite restrictions lifting across multiple states

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Likened to an Australian-style Brady Bunch home, the Dwyer Street property has sold for $1,023,500 in an online auction.
The unique property at 49 Dwyer Street in Cook, resulted in the expected 31-hour online auction running 55 minutes overtime.
The property was the most-viewed ACT listing on realestate.com.au in the week to 23 April and has been among the top 10 most-viewed properties in the state for the past three weeks.
Selling agent Matt Sebbens, from Blackshaw - Belconnen, said the house was a standout in Canberra's market.
He said, "Bidding activity among the nine registered parties was subdued in the first 24 hours after the opening bid of $900,000, but there was a flurry of activity late on Friday."
"We were always really hopeful of getting around the $1 million mark so I was very happy with the outcome," Sebbens said.
It was the first time Blackshaw had used the timed online strategy to auction a property, which was staged via auction platform, AuctionNow.
Untouched since 1971, the five-bedroom, two-bathroom home is set on a 920sqm block and has 330sqm of internal living space as well as a 95sqm garage with parking for four vehicles.
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Standout 'Brady Bunch' style Canberra home sells in online auction overtime 

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On-site real estate auctions will be able to go ahead from Wednesday after Victoria announced on that it would begin loosening restrictions.
Auctions will be limited to 10 people, plus the minimum amount of people required to facilitate the sale and those selling the house.
The same eased restrictions will apply to open for inspections, and real estate agents will be required to take the name and phone number of each visitor to make it easier to contact trace, similar to the recent changes in other states.
On-site auctions have been banned since March, when restrictions began. The lack of auctions has seen buyer activity plummet in Melbourne.
Victoria now joins NSW, Western Australia, Queensland and South Australia in announcing the easing of auction bans.
Agents have welcomed the news, but said they wouldn’t be rushing back into in-person auctions en masse.
Most agencies said they weren't in a rush to jump back into onsite auctions especially for properties mid-campaign but were going to shift offline soon.
Real Estate Institute of Victoria President Leah Calnan welcomed the Victorian Government’s decision to allow on-site property auctions and open for inspections to return to in Victoria with restrictions.
Both on-site property auctions and open for inspections will be restricted to 10 people in addition to staff required to facilitate the auction or inspection, the contact details of attendees will also be recorded.
REIV President Leah Calnan said the real estate sector was prepared to take the measures necessary to assist with a safe return to business.
“The real estate sector has adapted extremely well during this pandemic, while restrictions are being lifted, the threat of Coronavirus remains and it is imperative that we continue to run auctions safely and responsibly.” Ms Calnan said.
“The REIV encourages all members to download the COVIDSafe App and implement strong safety protocols as we begin our return to work routines. In addition, the REIV recommends that all individuals attending an open or auction should also download the App, provide contact details to the agent and follow social distancing measures as required.
“Online auctions have worked well over the last few weeks and we encourage members to use this as an additional channel for wider engagement.”
“Having public auctions will inspire increased confidence in our economy, auctioneers across the state are looking forward to getting back to what they do best”.
“We are very excited about auctions coming back, the real estate sector is prepared to do the right thing to ensure auctions and open for inspections are run safely.”
Meanwhile Real Estate Institute of Queensland head Antonia Mercorella told The Courier-Mail she was still seeking clarification from the state government over who exactly was included in its partial easing of restrictions for on-site auctions to 10 people.
“We are currently seeking clarity regarding the composition of the group – does it include or exclude the auctioneer, real estate agent and other support staff required to conduct an auction as well as the property owners?”
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Victoria lifts ban on onsite auctions amid loosening Covid-19 restrictions

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

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As auction restrictions ease across New South Wales, Ray White agents are cautiously optimistic for this upcoming weekend action.
Across New South Wales open home inspections will resume this weekend with a minimum of six pre-booked attendees, a relaxation of the previous two person private inspections. Similarly in Queensland, Ray White members will also be holding ‘controlled inspections’ of six people, including the agent.
Physical auctions will be held at 33a Pearl St, Newtown and 3/1 Cardigan Lane, Camperdown (pictured above) and all attendees must first flag their interest to attend with the agents to control the crowd.
Ray White Erskineville | Surry Hills | Alexandria Director Ercan Ersan ,said the Camperdown townhouse, with a price guide of $1 million, should attract between five and seven registered bidders.
“Six weeks ago when restrictions came in it was tough to sell anything because of the unknown and we were still adapting," he said.
“Since then we’ve really adapted well and since the transition to online we’ve sold 14 of 16 properties under auction conditions. But it’s great news that we can now do open homes and onsite auctions.
<img src="https://f.datasrvr.com/f1/620/45399/Drummoyne.JPG" width="640" data-imagetype="External">
Ray White Drummoyne will still be using the online auction method for the three bedroom cottage at 30 Byrne Ave, Drummoyne (pictured above) but sales agent Chris Wilkins was confident the sale will be just as competitive as an on-site auction.
Mr Wilkins said already he has had 47 private inspections and is giving out a price guide of $1.75 million.
“This particular house has attracted buyers because it’s well priced and there is no work that needs to be done, it’s close to schools, shops and restaurants and the layout is great.”
<img src="https://f.datasrvr.com/f1/720/52842/Stamford.JPG" width="640" data-imagetype="External">
In Victoria, the north side team at Ray White Glenroy have two online auctions coming up this weekend. Glenroy sales agent Omer Koksal said both properties have attracted quality buyers throughout the campaigns.
With a price guide of $480,000 to $528,000, the agent is expecting between 10 to 15 online bidders for the "renovator’s dream" at 7 Byfield Close, Gladstone Park (pictured above).
There are 424 capital city homes scheduled for auction this week, down on the 612 homes auctioned last week, according to CoreLogic data.
Their data shows that last few weeks have seen fewer scheduled auctions due to a combination of low sentiment, tough selling conditions and policies preventing open homes and on-site auctions.
However with news that the NSW and WA state governments are lifting the ban on on-site auctions and inspections, with other states likely to follow suit, auction volumes could potentially see an uplift sooner than expected.
A lift in auctions isn’t likely to happen straight away, with vendors and agents generally relying on at least a four week marketing campaign leading up to the auction event.
There are 152 Melbourne homes scheduled for auction this week, down on the 217 held last week.
Sydney is expected to be the busiest auction market for the third week in a row, with 191 scheduled auctions this week, however this is down on the 283 held last week.
Canberra is the only capital city auction market expected to see an increase in volumes over the week, with 40 homes currently scheduled for auction.
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On-site auctions resuming in NSW this weekend

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Auction volumes were up to 1,848 across the nation this weekend, according to CoreLogic, up from 634 last week.
Clearance rates however were similarly low across the nation with hundreds pulling out of auctions especially in Sydney and Melbourne.
Of the auctions scheduled 852 were withdrawn across the nation, 500 from Melbourne and 314 in Sydney, according to Domain's findings.
CoreLogic data showed preliminary clearance rates reached 40% in Sydney and Melbourne with 73.2% of the successful Melbourne auction properties actually sold prior to the scheduled auction date.
A similar showing occurred in Sydney where 60.2% were sold prior to the scheduled auction event.
<img src="https://www.urban.com.au/images/2020/4/20/CL%20auctions%20April%2018th.JPG" alt="">Across the smaller cities, Canberra continues to outperform the remaining capital cities with a 66.7% preliminary success rate and the lowest rate of withdrawn auctions (25%).
The existing challenges around new policies banning onsite auctions and inspections are still impeding on activity across the auction market.
As confidence remains low and circumstances uncertain, it’s expected that fewer vendors will elect auction as their preferred method of sale and either convert to private treaty method or hold off on selling all together and scheduled volumes will likely decrease over the coming weeks.
Online auctions have helped take some of this strain off but as evidenced by the 50% pullout rate, many people would rather hold their cards close to their chest than trust in online auctions and marketing.
One standout home bucked this trend attracting competition from nine registered bidders at 199 Military Road, Dover Heights (pictured in title).
Featuring sweeping Sydney City, Harbour Bridge and Opera House views, the home, which has been owned by the same family for over 60 years, sold for $3.86 million.
The winning bidder told Ray White “I’ve been looking for the perfect property for six months... I plan on moving in first and then seeking DA approval to rebuild because it offers me a great opportunity to build the property of my dreams."
The three bedroom, one bathroom property sits directly opposite Dudley Page Reserve and is close to schools, bus and ferry transport.
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Majority of weekend 'auction sales' took place prior the scheduled auction 

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The holding of public open for inspections for houses for sale have been banned in Australia from Thursday to help stop the spread of coronavirus.
Auctions have also been banned, Prime Minister Scott Morrison announced after the Tuesday night national cabinet meeting.
"Real estate auctions and open house inspections, in particular open house inspections — that cannot continue," Scott Morrison said.
"In the retail space, auction houses, gatherings together in auction rooms, that can no longer continue."
“We’re trying to limit the gathering of people in large numbers that can relate to the transmission of that virus,” Mr Morrison said.
Private appointments for inspection are permitted, the official paperwork showed.
There were 2000 onsite and inroom auctions scheduled around Australia in the capital cities for the next two weekends in the traditional pre-Easter sales rush.
The decision came despite a concerted eleventh hour campaign by the property industry who suggested home open for inspections could be held with inspectees keeping their hands in their pockets.
The major real estate brands had lobbied the Federal Government for its agents to be deemed an “essential service”,  the same as the financial services industry, in a bid to prevent a "catastrophic fallout" in the property sector.
The national cabinet has been asked to consider the property market as one of the foundational cornerstones of the economy.
“Despite some media reports to the contrary, the property market is continuing to yield high clearance rates and it’s clear that many Australians still have a strong need to buy and sell property, regardless of the current situation,” one agent complained. 
There are around 115,000 sale listings on the market, according to CoreLogic. 
Limiting auctions to registered bidders practising social distancing had been initially suggested, along with the shift of some auctions slated for indoor to move outdoors to stay within the government's then 100 person limit on indoor non-essential social gatherings.
Agents were also seeking to encourage more online auctions along with absentee phone bidding.
Last week the New York Governor Andrew Cuomo barred brokers from showing homes, as part of a sweeping ban on activities that risk spreading the coronavirus.
At a press conference Friday, Cuomo announced an executive order mandating all employees of non-essential businesses to stay home from work.
The <a href="https://esd.ny.gov/guidance-executive-order-2026" target="_blank">list of essential jobs</a> includes food delivery, doormen and some construction.
It does not include real estate brokers.
The Real Deal website reported when Cuomo discussed the 90-day ban on evictions, he said, “I don’t know who you think you’re going to rent an apartment to now, anyway, if you kick someone out. 
"By my mandate, you couldn’t even have your real estate agent out showing the apartment.”
Across the other side of America, parts of California’s real estate industry are grinding to a halt because of Gov. Gavin Newsom’s “stay at home” order.
The 15,000 L.A.-based realtors represented in the local Multiple Listing Service (MLS) had been hoping for the best but preparing for the worst.
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Real estate open for inspections have been banned by Australian government

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EXPERT OBSERVER
February 2020 has been our first big auction month for Sydney’s prime Real Estate.
Throughout the Sydney Metropolitan area, 911 properties went to auction with an 83% clearance rate last weekend!
Giving vendors all of the confidence they need to get their property on and sold before Easter 2020.
Buyers are inspired by choice of properties for sale and the more properties on the market for sale for buyers to choose from, the more buyers will be looking.
At the moment we have noticed there is a glut of buyers at all of our open houses.
Another very interesting strategy taken on Saturday 22nd February, by one of Australia’s top banks - ANZ, was a very aggressive approach to drop their 2 year fixed rate to 2.68% indicating there could be a home loan war between the big banks.
This is great news for home buyers and mortgage holders.
One half of a million-dollar loan - at 2% interest rate - can save a family up to $900 per month.
So, whilst prices are going up, the cost of mortgages are going down, which is some relief for home buyers.
At NGFarah, whilst we believe in the auction system, we recognise that it’s not for everybody and it’s not for every property but it is one of the most powerful methods of sale, with a genuine competitive nature which creates new price levels in high demand areas.
In a rising market it’s the auction process that leads the way for growth.
GLENN FARAH is a NGFarah Marketing Director &amp; Sales Executive 
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