<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

<html><body><div class="page" title="Page 28">
<div class="section">
<div class="layoutArea">
<div class="column">
When looking at prestige properties on the Sunshine Coast the one thing you can say is that it has ‘all been happening’, according to the valuation firm, Herron Todd White.
 Buyer demand is strong with the stock levels being low in turn leading to upward pressure being placed on prices, its May report noted.
When defiining the Sunshine Coast prestige market, the $1 million mark has always been considered the starting point. 
Just like lower-priced entry-level properties, the entry levels of the prestige market, between $1 million to $1.5 million have been the most popular.
"As this sector of the market took off we have seen a fuse being lit. 
"Activity has picked up right through the value bands all the way to the three record-breaking transactions that occurred in the space of four months," HTW advised.
The most popular areas in the prestige market have continued to be coastal locations.
When looking at the coast you can break it up by the old shire council regions being Caloundra to the south, Maroochy to the central area and Noosa to the north.
"There is no doubt that beachside and canal front areas have all been performing really well.
"Suffice to say they aren’t making any more of these property types which should hold owners in good stead.
</div>
<div class="column">
When looking at the prestige rural residential/ lifestyle market, things are a bit different," HTW advised.
 This market is little hard to gauge as it is very property specific with personal preferences presentation and motivation of both purchases vendor is having an impact on the ultimate sale price. 
Therefore wider market parameters should be expected than those experienced for more traditional residential properties.
An interesting observation in this lifestyle market is that proportionally, values for smaller acreage prestige properties have performed better than the larger acreage counterparts. 
It appears that the cost to run these larger acreage properties have had a bearing on the market that does sometimes struggle to get its ‘head around’ what’s involved.
For units, HTW have seen a flight to larger permanent occupancy style product. 
The main market operating in this area is the ‘empty nester’s that are looking to downsize and have a property where they can ‘lock and leave’ and go travelling etc.
Within the resort/holiday space, we have also started to see the Hasting Street beachfront units come back but still a bit off from the last market peak.
</div>
<div class="column">
The improvement in the prestige/higher end properties has historically been driven by a high percentage of interstate investors from Sydney and Melbourne. 
"This is especially the case in the Noosa region. 
"The relative affordability, when you compare Sydney and Melbourne prices to those of the Sunshine Coast, demonstrate pretty good value. 
"It also appears that Sunshine Coast is pretty high on a number of the list of the baby boomers that have started to retire."
There have been three record sale prices that have transacted in the space of four months. 
First off 29 Wyuna Drive, Noosaville sold in October 2017 for $10.3 million (Listed for $11.9 million) which was on the market for 351 days. 
Next was 46 Seaview Terrace Sunshine Beach, which sold for $15.2 million (Listed for $18 million) in January 2018 and was on the market for approximately 581 days.
Finally 21 Webb Road, Sunshine Beach sold in February 2018 for $18 million (Listed for $22 million) after being on the market for only 52 days. 
It is HTW's understanding that the purchases of some of the properties were highly successful business people that had effectively sold large businesses.
The ‘ultra- prestige’ sector is more a matter of timing rather than anything else and tends to be more active during periods of stronger M&amp;A activity.
<div class="page" title="Page 29">
<div class="section">
<div class="layoutArea">
<div class="column">
"The question that we always get when we looking at the prestige markets is that - is the current growth that we are experiencing sustainable?
"There is no doubt that the prestige market is heavily linked to the wider economy which has been performing well.
"HTW do however have a history of volatility (up to 40% in some cases) in this market given that these properties are ‘wants’ rather than ‘needs.’ I mean, is there anything more discretionary than a multimillion-dollar holiday home?"
The report concluded the big positive at the moment is that the Sunshine Coast appears to be ‘on a lot of people’s lips’ and while the economy keeps performing well and barring any unforeseen incidents, the prestige market should keep chugging along for a little while yet.
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div></body></html>

j.ballantyne1990-6AQqhLzZaK

Upwards pressure on prices in Sunshine Coast trophy home market

<html><body><div class="page" title="Page 6">
<div class="section">
<div class="layoutArea">
<div class="column">
Downsizers are playing a significant part in driving the local market in the Sutherland Shire, as they sell their larger family homes for smaller three- bedroom units or duplex homes, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm took a look at what things traditionally matter to property markets and how current crisis is playing into decision making. 
"These types of properties appeal to the downsizer market as they cash in on their large family home for a more modern and low maintenance alternative," the valuation firm said. 
Prestige units located in central areas near transport and shops have always been popular with the empty nester demographic and more recently, low maintenance duplexes with a lift, minimal stairs or the ability to have a bedroom and bathroom on the ground floor are also proving popular.
A one bedroom apartment with parkland views in Miranda has recently been sold for $531,500.
Situated at <a href="https://www.realestate.com.au/sold/property-apartment-nsw-miranda-133200262" target="_blank">74/7-15 Jackson Avenue</a> (pictured below), the apartment is close to Miranda Station, shops, cafes and restaurants.
It comes with kitchen with gas appliances, enclosed balcony, sleek bathroom and lock up garage. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/4/14/miranda%201.jpg" alt="">
"We have also noticed a trend in the downsizer market to demolish the existing family home and build a duplex pair, staying in one and selling or renting the other," the valuation firm said. 
The report notes upgraders have also been active in the market over the past six months, with young families moving from a unit or townhouse to a detached dwelling or duplex.
"Upgraders are looking for something near transport, schools and shops, and often prefer modern or renovated properties so that they can move in with nothing to do.
"This is a change to what we have seen in the past as this demographic tended to prefer a dwelling they could renovate themselves and therefore increase the value," the valuation  firm continued. 
<div class="page" title="Page 7">
<div class="section">
<div class="layoutArea">
<div class="column">
First home buyers are generally attracted to two- bedroom units along the railway line, particularly from Sutherland to Cronulla.
A two bedroom apartment in Sutherland is currently on the market with a price guide of $600,000 - $650,000.
The two bedroom, one bathroom apartment is situated at <a href="https://www.realestate.com.au/property-apartment-nsw-sutherland-133409382" target="_blank">17/76 Auburn Street </a>(pictured below). 
It comes with open plan living and dining area, covered balcony, modern kitchen and double garage. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/4/14/sutherland.jpg" alt="">
However the recent increase in new unit complexes around the Miranda, Kirrawee and Caringbah areas created an oversupply with developers having to implement incentives such as cash back or stamp duty rebates to clear the remaining stock, the report notes. 
"This oversupply issue has started to ease in recent months as the number of complexes under construction has reduced. Despite this we are still seeing examples of units that were completed mid 2019 for sale, with developers offering incentives to clear the remaining stock," the valuation firm said. 
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div></body></html>

Sutherland Shire property market driven by downsizers: HTW residential 

<html><body>
HTW expects there to be steady activity and growth within Melbourne’s outer eastern suburbs, however, it is possible that uncertainty in the market caused by international political decisions may result in activity being marginally subdued in comparison to 2016, according to its February 2017 update.
The valuation firm says that it expects that downsizers will continue to cash in on larger blocks as the supply of development sites reduces, particularly in areas such as Croydon, Mooroolbark and Kilsyth.
“Ringwood North is perhaps another suburb worth watching due to its proximity to Eastlink and Eastland shopping centre, as well as access to good schools,” the reports says.
“The suburb continues to increase in popularity among up-sizers and families.
“Larger blocks with subdivisional potential in the outer eastern suburbs tend to be considerably more affordable than blocks on the outskirts of the middle eastern suburbs such as Ringwood East.
“Additionally homes located in the far outer eastern suburbs such as Coldstream still represent good value, especially for those not required to be close to transport links or the rail network.”
HTW says Croydon South is also a suburb that tends to be relatively affordable and is therefore also a suburb that is likely to experience higher than average growth this year as first home buyers rush to take advantage of the record low interest rates.
Apartments in suburbs such as Croydon and Mooroolbark tend to be relatively affordable but buyers should be cautious about the quality of finish on many of these newly constructed buildings, the report states.
“However, it could be argued that the majority of these apartments are built for the investor market and therefore affordability would tend to be the overriding factor rather than quality.
“We believe that the resale value of these apartments may be adversely impacted in the future as a result of the below standard quality of fittings and fixtures.”
At the average price of $671,000 an investor can purchase a house such as the one at <a href="https://www.realestate.com.au/property-house-vic-croydon-124606754" target="_blank">2 Nuraylia Avenue</a>, Croydon (above) that is currently available for between $670,000 to $737,000.
Similarly at the average price of $490,000 an investor can purchase a unit such as the one at <a href="https://www.realestate.com.au/property-unit-vic-croydon-124343538" target="_blank">4/32 Dorset Road</a>, Croydon (below) that is available for $499,000.
<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/2017/02/15/4_32%20Dorset%20Road.jpg" alt="">
</body></html>

jonathanchancellor-7SQnKwU6yx

Melbourne's Croydon attractive to first home buyers: HTW

<html><body>
Horsham has plenty of room for improvement in 2017, but improvements in the rural season may lead to improvements, according to HTW’s February 2017 update.
The valuation firm says the Horsham residential market is coming off a sluggish 2016, however, above average harvest yields produced this season may instil some confidence back into the region and the property market.
Despite the better rural season, the market is expected to remain slow at the top end with a limited buyer pool in this price range.
"We hope to see an increase in the volume of sales within the owner-occupier market ($300,000 to $400,000)," the report says.
"Local agents are already reporting an increased buyer interest this year in comparison to the same period last year, however we expect prices to remain relatively stable within this price bracket.
"Unit prices are likely to remain stable with interest from both investors and people looking to downsize.
"The rural residential market will again be closely watched with a low volume of sales and high volatility expected."
A four bedroom house at <a href="https://www.realestate.com.au/property-house-tas-newstead-124658554" target="_blank">4 Brooke Court</a>, Horsham (above) has been listed for $479,000.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/property-house-vic-horsham-124502074" target="_blank">7 Florence Street</a>, Horsham (below) has been listed for $339,000.
<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/2017/02/21/7%20Florence%20Street.jpg" alt="">
</body></html>

Green shoots for Horsham residential property market: HTW

<html><body>
In the Clarence Valley there are opportunities for first home buyers to purchase a property that is ripe for renovation, according to HTW’s Month in Review: March 2017. 
The valuation firm says there is a range of townhouses available below $400,000 in Yamba and in Maclean, where less than 30% of recent recorded sales were over $400,000.
“Residential development in Townsend is creating an appealing product marketed to first home buyers,” it says.
“This locality has both vacant land and house and land packages available for less than $500,000.”
HTW suggests these areas for home buyers:
• Townsend – Suited to first home buyers that are interested in a brand new product. Townsend creates a perfect environment for vacant land as well as land and housing packages - that are available for less than $500,000.
• Maclean – Suited to first home buyers in the market for perhaps an older product, holding the potential/opportunity for renovation
• Yamba – Suited to first home buyers that are in the market specifically for townhouses/ units. This area provides the most opportunity/widest range of different units for sale.
“Often a premium is paid for brand new product and this may not always be recouped at the time of the next sale if the market has not continued to benefit from capital gains,” HTW says.
“However, there are no overwhelming dangers for these buyers given current market conditions.
“The biggest mistakes that you see first time buyers making in this area is that it is possible that they may overcommit or forget the illiquid nature of property as an asset.”
A three bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-maclean-124709222" target="_blank">57 Woodford Street</a>, Maclean (above) has been listed for $315,000.
Similarly a two bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-townsend-124631734" target="_blank">32 Jubilee Street</a>, Townsend (below) has been listed for $227,500.
<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/2017/03/09/32%20Jubilee%20Street.jpg" alt="">
</body></html>

Townsend, Yamba and Maclean affordable options for first time buyers: HTW

<html><body><div class="page" title="Page 38">
<div class="section">
<div class="layoutArea">
<div class="column">
The prestige property sector is currently outperforming the remainder of Perth’s property market, according to the valuation firm, Herron Todd White.
 After years of soft market conditions due to a total lack of market con dence, a rebound has nally begun in the desirable western suburbs of Perth, the CBD fringe area and desirable coastal localities. 
The substantial price contraction over the past 3 years has brought many properties to represent apparent “good buying”, resulting in today’s increasing market activity it noted.
In the second half of 2017, upgraders started to gain the required level of confidence to secure homes in areas they never thought they could afford. 
The period of opportunity and/or “fear of missing out” has been identified by a large group of upgraders within a relatively short period of time, causing a substantial uplift in demand which has eventually affected property prices. 
Many sought after areas are recovering while several suburbs have exceeded house value medians witnessed back in 2013 and 2014 when Perth enjoyed stronger conditions.
North Beach and Applecross are two of the top performing suburbs in today’s market with a 25.00% uplift in median value for both suburbs over the last year, according to the Real Estate Institute of Western Australia’s studies. 
The current median prices re ect a 15.8% improvement in values in North Beach and 9.8% in Applecross, since 2014. 
Supply of quality housing in prestige areas is well below current demand levels, which is also contributing to the improved prices.
Sales volumes are therefore relatively low somewhat restricting the market in several prestige areas, the latest HTW report advised.
Prices appear to still be on the rise, enquiries are increasing and the overall prestige market is expected to continue in this direction throughout 2018.
</div>
<div class="column">
As the rare opportunity to get a foot in the prestige market has already sailed for many, well established, upgrader suburbs have become the second best option. 
Rossmoyne along Swan River and Coolbinia near Perth CBD have already started to shoot up with a 14.8% and 29.7% increase in values respectively over the last 12 months.
Land values in excess of one million dollars can generally be described as prestige. Due to the limited stock of prestige housing in upper-end suburbs, there is currently a high demand for properties representing near land value with good views and close proximity to the beach. 
Demolition of existing, modest housing makes room for new prestige housing that is more suitable for the areas. 
"This is becoming prevalent, resulting in solid value increases at entry level stock in many sought after localities," the HTW report added.
Properties falling in the value brand of two to three million dollars fall within the lower end of the “prestige” range. 
"As always, values are heavily influenced by size, age, quality and condition of the home as well as locational aspects including views, proximity to private schools, beach, city and river."
</div>
<div class="column">
Mount Pleasant, South Perth, Nedlands, Dalkeith, Cottesloe, Claremont, City Beach Attadale, Subiaco, Trigg, North Beach and Sorrento are all examples of such premium suburbs. It should be noted that there is also modest housing of lesser values in some of these areas.
Properties holding a value of $4 million or above, located in prime af uent suburbs can be categorised as ultra-prestige - arguably required to be located on the river or ocean side. Peppermint Grove, Mosman Park and Applecross fit right into this category.
Apartments worth $1 million and above are typically seen as prestige. The state’s overall apartment market including the prestige sector is currently somewhat stagnant, although there has been good demand for good quality apartment projects in many prestige areas that have long lacked options for downsizing baby boomers.
High income earning professionals who desire large family homes close to private schools and Perth CBD are typical buyers in the prestige areas. Doctors and other health professionals take up a great portion of the prestige areas, especially southern suburbs such as Applecross and Mount Pleasant due to the proximity to the cities growing health district in Murdoch.
Agents have reported increased activity and interest in these areas. Applecross is currently the top-selling suburb in the state as of REIWA’s most recent update. Some of Perth’s most impressive mansions are located along the riverside in Applecross. The median house price is $1,570,000 although; a large portion of the suburb comprises modest dwellings reducing the overall median price substantially. A mansion located along Duncraig Road in Applecross, was sold in March 2018 for $8 million and would be classifed as ultra-prestige. The property was initially listed for $8.5 million in November 2017.
<div class="page" title="Page 39">
<div class="section">
<div class="layoutArea">
<div class="column">
Peppermint Grove is sitting at the very top of the prestige range, holding a median house price of $3,475,000, well above any other prestige suburbs. The mansions are typically located on quarter acre blocks surrounded by greenery. A fairly recent sale occurring in December 2017 saw the property sold for $11 million after being on the market for 53 days. The seller received the asking price for the property, "something we don’t see very often in today’s market."
Dalkeith is also among the top af uent suburbs in Perth with a median house price of $2.57 million. The suburb comprises residential buildings that are often seen as impressive, with somewhat different architecture. Dalkeith’s riverside along the well- known Victoria Avenue is one of Perth’s most expensive locations. The street is known for taking luxury to a whole new level. Below is a property situated along Victoria Avenue that sold in January 2018 for $5.35 million after being on the market for 145 days. 
Cottesloe is one of the top performing suburbs in Perth’s current market with a 16.9% rise in house median over the last 12 months, landing at $2,127,000. The proposed redevelopment plan of Cottesloe foreshore involving a complete makeover including multi-storey living, restaurants and an ocean side swimming pool is likely to play a part in the increasing demand currently seen. This has been identified by investors and also upgraders hoping for improvement. A property sold for $4,600,000 in March 2018 after only 5 days of proper marketing.
</div>
<div class="column">
In the short to medium term, the prestige sector is expected to see a slight increase in price as a result of supply restrictions caused by increasing con dence levels among buyers. Secondary suburbs are also expected to see improved market conditions, an opportunity increasingly identified by investors. 
HTW's valuers have confidently suggested growth or at the very minimum stable market conditions over the coming year, however, the long-term is uncertain as the overall state economy plays an important role in the performance of the property market.
"All we can say is that the economic key measures are tracking in the right direction," the report concluded.
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div></body></html>

Perth trophy home market outperforming the rest of the market

<html><body><div class="page" title="Page 15">
<div class="section">
<div class="layoutArea">
<div class="column">
The property market has shone in the past seven years showing extraordinary growth in property prices in the northern suburbs of Melbourne, according to the latest Herron Todd White (HTW) residential report. 
The report notes last year’s property market results ended on a high note as we saw the fastest turnaround in history, with improving prices and clearance rates leading into the new year of 2020.
With property values rising, sellers are expected to cautiously return to the market, increasing stock levels.
<div class="page" title="Page 16">
<div class="section">
<div class="layoutArea">
<div class="column">
"So, what do we know moving forward into 2020? We can be assured that the Reserve Bank’s main focus will be to decrease unemployment rates and to increase wages, which will likely result in interest rates falling further throughout the year, making it even more affordable to enter the market," the valuation firm said. 
This trend could see an upside in developing areas such as Craigieburn, Kalkallo and Mickleham, which may prove to be the only truly affordable option for the inner and outer northern suburbs.
"By offering properties at affordable prices, these areas may still be the choice for migrating families moving to Melbourne or country Victorians wanting to move closer to Melbourne," the valuation firm said. 
A Craigieburn three bedroom house has been sold for $570,000.
The three bedroom, two bathroom home is situated at <a href="https://www.realestate.com.au/sold/property-house-vic-craigieburn-132823606" target="_blank">32 Newlyn Drive </a>(pictured below).
Set on 650sqm, the home comes with well-appointed kitchen, meals area, and pergola overlooking backyard. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/2/24/craigeburn.jpg" alt="">
Areas in the desirable suburbs of the inner north such as Abbotsford, Carlton and Richmond should expect to see moderate to low stock on the market.
The report notes blue chip properties that tick all the boxes will continue to perform in 2020.
"Low vacancy rates will also be evident in these areas with vacant dwellings being snapped up either by investors or renters," the valuation firm said. 
A Richmond Victorian house has recently been sold for $1.67 million. 
The three bedroom, one bathroom home is situated at <a href="https://www.realestate.com.au/sold/property-house-vic-richmond-132848686" target="_blank">10 Moorhouse Street</a> (pictured below). 
It comes with open plan living, north facing courtyard and spacious kitchen. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/2/24/richmond%20.jpg" alt="">
 
</div>
</div>
</div>
</div>
 
</div>
</div>
</div>
</div></body></html>

Desirable Melbourne inner north suburbs to see low vacancy rates in 2020: HTW residential 

<html><body>
The Illawarra residential market prices continue to grow strong, according to a recent Herron Todd White (HTW) report.
The property valuation firm says that various factors such as low interest rates, employment and decreasing affordability in Sydney are creating strong demand.
“There has been strong growth in the Illawarra residential market for a number of years in all locations and property types,” the report stated.
The market is particularly driven by what is happening in Sydney but there is also a flow on effect to Wollongong and Shoalhaven.
"Low interest rates, stable employment, improving infrastructure and decreasing affordability in Sydney all combine to create strong demand for residential property at all price levels," the report said.
"There are a number of factors that could cause the market to change.
"These include interest rate hikes, an oversupply of new properties, an economic downturn in the region, or a crash in the Sydney market.\
Wollongong is in the middle of a construction boom, especially in unit developments.
"New unit developments are at an all time high and the supply of new units are at unprecedented levels," HTW said.
"In addition there are many new land developments of varying sizes with the majority in West Dapto, Calderwood, Shell Cove and South Nowra.
"As long as the supply is being met by strong demand the market will continue to be strong.
"However, all this new supply may exaggerate any downturn in the market if developers cannot offload their new stock."
HTW says Illawarra’s economic situation is tied to its property market.
"The region continues to diversify from its mining and steel roots and has enjoyed good growth in medical and aged care and tourism sectors," it said.
"Market confidence is still derived from the steel and mining sectors.
"Major downturns in these sectors could result in a downturn in the property markets.
"With the region being more and more accessible to Sydney through improved infrastructure, the link between the Sydney and Illawarra property markets is closer than ever.
"It is likely that the events that would cause a slow down in the Sydney market would also impact the Illawarra and if Sydney buyers were removed from the Illawarra market demand for property would be reduced,” the report stated.
A three bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-figtree-125477566" target="_blank">9 Mark Street</a>, Figtree (above) has been listed for between $699,000 to $768,900.
Similarly, a two bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-woonona-125478226" target="_blank">45 Hillcrest Avenue</a>, Woonona (below) has been listed for $600,000.
<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/2017/05/16/45%20Hillcrest%20Avenue.jpg" alt="">
A two bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-north+wollongong-125324826" target="_blank">1/4 Pleasant Avenue</a>, North Wollongong (below) was recently sold for $570,000.
<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/2017/05/16/1_4%20Pleasant%20Avenue.jpg" alt="">
Similarly, a four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-horsley-125281798" target="_blank">21 Norman Clark Crescent</a>, Horsley (below) was recently sold for $955,000.
<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/2017/05/16/21%20Norman%20Clark%20Crescent.jpg" alt="">
</body></html>

Illawarra residential market continues to grow strong: HTW

<html><body>
The Bundaberg and Bargara markets are still going well despite COVID, according to the latest report from valuation firm Herron Todd White.
They found that, according to CoreLogic's platform, there have been five properties sold in 2020 for between $1 million and $1.5 million, and eight properties sold for $800,000 to $1 million.
These properties are diverse, ranging from prestige homes and units in Bargara, either in upmarket estates or oceanfront or with ocean views, to redevelopment blocks on the oceanfront along with two properties over one hectare improved with large dwellings. 
The high value sales figures were considerably less last year.
Catherine Kersnovske, a property valuer at Herron Todd White, says it will be interesting to see what eventuates as the weather warms up, with a number of listings over $800,000 in the area.
</body></html>

Bundaberg prestige market sales volume grows: HTW

<html><body>
Prices remain resilient and on an upward trend in Melbourne’s eastern suburbs, valuation firm Herron Todd White found.
They found, despite the unprecedented year, there have been some notable prestige sales in the inner east of the city.
A home at 13 Wimba Avenue in Kew sold for an $7.9 million in March 2020, just before COVID took over the housing market.
The home has six bedrooms and six bathrooms across three lift-accessible levels on 918 square metres of land.
The property, with northern sunlight and range views, has a Hampton’s inspired summer room that opens to a large pool and alfresco area. There's a basement-level theatre, billiards room, gym and cellar, along with a six-car garage.
The substantial property sales aren’t only limited to houses on large sites in some of Melbourne’s most affluent neighbourhoods.
Luxury units, townhouses and apartments built with well-appointed finishes, highly desirable features and clever design also fetch prices much higher than the median prices seen in the eastern corridor.
A city-facing, ground level unit at G02/8 Main Drive, Kew sold off-the-plan in August 2020 for $2.15 million.
The residence will comprise three bedrooms and two bathrooms and feature natural stone and timber surfaces throughout its kitchen, bathroom and ensuite as well as an abundance of brushed chrome finishes.
It also features a study nook, outdoor entertainment area and space to park two cars.
The property is one of 17 residences in the <a href="/buildings/oakwood-kew-residences-8-main-drive-kew">Oakwood development in Kew</a>, located on a tree-lined boulevard, approximately 15 minutes drive from the CBD.
 
</body></html>

Htw

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Htw