<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.

<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

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The office market in Geelong, south west of Melbourne, is approaching its peak, according to valuation firm Herron Todd White.
The market kicked in to gear early last year when the offices of insurer TAC sold for a region record $115 million (pictured above).
It was sold by Impact Investment Group, who set a record when they paid $95.8 million in 2014.
The six level trophy asset was bought by Centuria Property Funds Limited.
Herron Todd White now believe the office market in Geelong is approaching the peak, along with Brisbane and Sydney.
To enlarge the National Office Property Clock, click here.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/5/Geelong1.jpg" alt="">
The Brougham Street offices of the Transport Accident Commission are located on a 5475 sqm waterfront site.
The record setting sale bred confidence.
Following the sale, a <a href="https://www.realcommercial.com.au/property-offices-vic-geelong-502580650" target="_blank">Ryrie Street office block</a> sold for $40 million through Savills.
It was sold fully leased to the likes of the State Government and a number of ASX listed and growth industries.
The confidence didn't just breed sales success.
Savills negotiated the lease of a 13,200 sqm Malop Street office to WorkSafe Victoria who moved their head office to the site.
The 14 level A grade office building was only completed in December 2017 having been developed by Quintessential Equity. 
Earlier this year the former Target Head Office at <a href="https://www.commercialrealestate.com.au/property/12-14-thompsons-road-geelong-vic-3220-2014720216" target="_blank">12-14 Thompsons Road in North Geelong</a> (pictured below) sold for $10.6 million.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/5/Target1.jpg" alt="">
It included a large land holding of around 38,000 sqm.
The property has been earmarked for a mixed-use rezone and sold with vacant possession.
Geelong has a number of offices in prime locations currently for sale.
An office block at <a href="https://www.realcommercial.com.au/property-offices-vic-geelong-503199098" target="_blank">49 Mercer Street</a> (pictured below), just one road back from the harbour, has been listed for sale.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/5/Mercer1.jpg" alt="">
Set on 240 sqm in the Western Wedge zone, the current fitout has six office spaces across its two levels. 
It is currently tenanted by the Australian Red Cross and last traded for $335,000 in 2004. It was last advertised for rent at $55,000 per annum in 2016.
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jonathanchancellor-7SQnKwU6yx

Geelong offices approaching the peak of market: HTW national office clock

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Mount Warren Park, Beenleigh and Windaroo are top of the list for buyer interest on the north-west of Gold Coast, according to a recent Herron Todd White (HTW) residential report. 
The report suggests while market activity and in some cases prices have come off a bit in recent months, it is still possible to find a value for money house or unit.
"There are options for those who want to buy and renovate for a profit or rental returns. Some positively geared options are also around," the valuation firm said. 
"The suburbs we have chosen are established older areas, not flooded with redevelopment, new estates or investors."
A on-ground semi modern house in Mount Warren Park has been sold for $230,000 (pictured above). 
The circa 1990 brick house at <a href="https://www.realestate.com.au/sold/property-unit-qld-mount+warren+park-130205206" target="_blank">14/9 Quinton Court</a> comes with three-bedroom, one-bathroom, tiled roof and single-car garage.
The property includes renovated kitchen, bathroom and new carpets.
It rents for $310 per week with body corporate fees of $40 per week.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/21/windaroo.jpg" alt=""> 
The property at <a href="https://www.realestate.com.au/sold/property-house-qld-windaroo-129568426">13 Mewing Court, Windaroo</a> comprises a semi modern, on-ground, circa 1992, brick three-bedroom, two-bathroom dwelling with single-car garage and tiled roof.
It includes recent floor coverings and paint with original kitchen and bathrooms. Land area is 622 square metres. Property rents for $390 per week.
The compromises are that you are mainly looking at older properties which may require maintenance or updating soon, the report noted.
"When you look at nearby suburbs such as Bahrs Scrub or Holmview where you can buy a new dwelling, these properties are usually priced up to the dollar and can often take some years before you see a capital gain given the premium paid for being new," it advised.
"We consider there to be a likelihood of prices falling somewhat for most of this year in these locations, then hopefully a resurgence in the market thereafter.
"However at present, the rental market in these locations is pretty strong providing a good holding income in the meantime.
"The property to buy as a home or an investment are regarded as the same property in these locations."
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j.ballantyne1990-6AQqhLzZaK

North West Gold Coast's established suburbs offer value for money: HTW

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Hollywell is often overlooked in property searches due to its size and the well known surrounding suburbs, according to a recent Herron Todd White (HTW) residential report.
It is a small suburb located just below Paradise Point and just above Runaway Bay on the Gold Coast, Queensland.
It features canal front properties with bridge free broadwater access to a number of sites, as well as broadwater views.
"Whilst the suburb does lack quality shopping facilities, restaurants and cafes, it is within walking distance to suburbs that offer these," the valuation firm said. 
"Furthermore, public transport is readily accessible and runs straight through the middle of the suburb."
Price points within the suburb do range as the property mix comprises units, dry block houses and canal front houses.
"Over the past six months we have seen entry level two-bedroom, two-bathroom units being acquired for just under $400,000, dry block houses selling upwards from $525,000 and canal front properties with bridge free broadwater access from $900,000," the report said.
There was a recent $900,000 sale.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/21/hollywell%201.jpg" alt="">
A circa 1980 five bedroom brick house at <a href="https://www.realestate.com.au/sold/property-house-qld-hollywell-129400990" target="_blank">361 Bay View Street</a>, Hollywell was sold for $900,000 (pictured above). 
The house features updated kitchen with timber floors, solar panels, concrete boat ramp, pontoon jetty and swimming pool.
Other highlights include north-east facing, 18 metre canal frontage with bridge free broadwater access, and 725 square metre land area. 
The property is positioned on a local thoroughfare road that runs through Hollywell, which is a detracting factor.
The property was on the market for 64 days and original asking price was $1.15 million.
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Hollywell, the often overlooked Central North Gold Coast suburb: HTW

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The weather has played an interesting part in the property matrix over the past 18 months, according to the latest Herron Todd White (HTW) rural report.
The valuation firm took a look at the property sales in drought-affected regions across the country. 
"Generally when we have seen depleted cash flows through lack of feed, eventually there has been a corresponding drop in market interest due to the inability to service any expansionary ideas," the valuation firm said.
"Up until recently, from our perspective, it has not had the greatest impact on the general property market however over the past eight weeks we have begun to see decisions made on farm that have been prompted by the lack of cash flow and debt servicing ability.
"While this has had some softening effect on the level of interest within the general market place there is still solid market participation at auctions and marketing campaigns, albeit at a lower level than previously experienced."
The report notes this drought impact is not as evident in the corporate sector as a majority of these purchases are undertaken with funds under management and not borrowings.
"In fact we are seeing an increase in activity of smaller corporate players at present, particularly in central New South Wales around the Forbes district where a number of the smaller entities have been active searching for properties in the $3 million to $7 million range," said the report. 
"We are aware of a transaction under contract at present in central New South Wales which does involve one of the smaller corporate entities mentioned which has been purchased on a sale and lease back agreement.
"The lease equates to a 4% return on initial investment. This would be reflective of the general market now in terms of yields with most tenanted properties in the 3.5-4% range.
"This is a reflection of the substantial increase in underlying land value which has resulted in compression of yields as tenants are unwilling and unable to afford the previously accepted yield range of 4.5-5%."
A recent sale in the Riverina which has just settled is the property called <a href="https://www.realestate.com.au/sold/property-cropping-nsw-barellan-700006818" target="_blank">The Peak</a>.
This property was put out for tender rather than auction and received significant interest from local landholders and nearby landholders looking to expand.
This is a 659 hectare property subdivided to five main paddocks and improved with a basic machinery shed and silo. Soils are good quality red loams typical of the area.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/7/the%20peak.jpg" alt="">
The property is located 25 kilometres north- east of Barellan and 25 kilometres south-east of Weethalle.
It has now settled and indicates an overall improved value of $3,188 per hectare which equates to approximately $1,290 per acre.
This is a particularly strong sale and would be considered to be setting new benchmark levels for the area to the south of Weethalle, HTW said. 
"When we look at the property clock of an area, knowing when we have hit the top of the market is always a retrospective analysis," said the report.
"In other words, we will only know we have hit the top of the market after we have passed it. 
"We have previously reported the sale of Forest Vale (pictured below) in the southern Riverina area around Holbrook and Gundagai."
This is a 1,165 hectare open grazing property in a well-regarded location on the Hume Highway and the sale included substantial improvements including a fully renovated circa 1902 homestead.
The reported purchase price of the land was $13.25 million which equates to $11,373 per hectare overall.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/7/forest%20vale%201.jpg" alt="">
"Whilst this appears only marginally in front of other smaller area sales in terms of achieved dollar per hectare rates, it is not until we know the details of the balance of the contract that we will be able to accurately assess the real price paid for the land itself.
"However after consideration of the reported price and the scale of the property involved, I believe we will look back at this sale and call it the peak of the market for this area.
"Mind you, only time will tell."
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Drought impact on Central and Southern NSW property market has been limited: HTW rural

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The north-western Sydney suburb Castle Hill is seen as a desirable location and a suburb many locals aspire to live in, according to a recent Herron Todd White (HTW) residential report. 
"This suburb provides a variety of real estate, but houses begin from $1.2 million for entry-level dwellings to executive style mansions at between $3 million and $4 million," says the valuation firm. 
The report notes the main draw cards are high quality schools, larger blocks, quiet leafy streets and close proximity to a major shopping centre, bulky goods precinct and the Norwest business park.
In addition there are two new train stations being built within the suburb.
The median value in Castle Hill for houses in 2018 was $1.4 million, according to realestate.com.au.
"For that sort of money, you can get an updated four-bedroom home on a decent parcel of land with potentially a pool," says the HTW report. 
The house at<a href="https://www.realestate.com.au/sold/property-house-nsw-castle+hill-130380630" target="_blank"> 23 St Marks Avenue </a>(pictured below) recently sold for $1.35 million and provides four bedrooms, three bathrooms, double garage and a pool on a 923 square metre block.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/7/castle%20hill%201.jpg" alt="">
An example of a high-end property is this six-bedroom, six-bathroom executive dwelling at <a href="https://www.realestate.com.au/sold/property-house-nsw-castle+hill-128303606" target="_blank">3 Lomond Place </a>(below) with an eight-car garage.
This home features high quality inclusions with an in ground pool all improved on 2,000 square metres of landscaped land. This property sold for $3.8 million in June 2018.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/7/castle%20hill%202.jpg" alt="">
"The absolute entry level for dwellings in Castle Hill is the sub-$1 million market. Any dwellings under this mark have a number of less desirable features, but for the savvy purchaser, present a foothold in the market," says the HTW valuer.
The dwelling at <a href="https://www.realestate.com.au/sold/property-house-nsw-castle+hill-130174250" target="_blank">3 Gary Street</a> (pictured below) sold for $940,500 in January. It provides three bedrooms and one bathroom with a built-in garage.
Overall the property is in below average condition and is positioned on a 696 square metre corner block.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/7/castle%20hill%203.jpg" alt="">
"The compromise for buying this property is being located on the outskirts of Castle Hill and the dwelling is in need of attention which could be costly. Is it worth it? It all depends on what you want.
"Some people want a detached house they can add value to and escape strata living. Others may wish to spend similar money on a more modern townhouse offering the same or maybe more accommodation with superior features throughout.
"Long term, land in Sydney will become more valuable and having 700 square metres in Castle Hill should prove to be a smart decision."
In the past five years, dwellings in Castle Hill have risen 52% off the back of a huge price boom in Sydney.
While the median has dropped in the past 12 months, Castle Hill in the long term is seen as "a wise move given the solid fundamentals and major draw cards that underpin the area", said HTW. 
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Castle Hill could be a good long-term investment: HTW residential 

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Australia's largest independent valuation and advisory firm, Herron Todd White, have announced long-serving CEO, Brendon Hulcombe, is stepping down from his role.
Hulcombe, who has held the top job for over a decade, informed the Herron Todd White board of his decision today.
"The Board of HTW has thanked Brendon for his many contributions right across our network, for leading us through a long period of sustained growth, for his expert client relationship management, his valuation industry leadership, and his stewardship of HTW," said Herron Todd White chairman, Jeff Forbes.
"I am very pleased to confirm that Jacqui Bayles will be stepping into the role of Acting CEO of HTW with immediate effect, and until such time as the Board of HTW has concluded its search for Brendon’s replacement," Mr Forbes said.
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He has been at HTW over a 16 year period; 13 of those years as its chief executive.
He will remain an employee of HTW until the end of August 2019, but will be taking a period of extended leave between now and then.
Jacqui has been at HTW for five years, most recently as General Counsel &amp; Company Secretary. 
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Jacqui Bayles becomes HTW's acting CEO after Brendon Hulcombe departure 

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The Sydney house price downturn has continued to spread further across New South Wales, according to valuation firm Herron Todd White.
In February (bottom), houses in Newcastle slipped in to a declining market, and now the March National Property Clock has South East NSW joining them.
The Sydney has been a declining market since May 2018. 
The Central Coast and Coffs Harbour housing market are expected to be next to follow suit. They have been starting to decline for a number of months.
Click <a href="https://www.propertyobserver.com.au/images/2019/3/5/National-March.jpg" target="_blank">here to enlarge</a> the March National Property Clock.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/3/5/National-March.jpg" alt="">
Having defied the downturn in Sydney for a number of months, Herron Todd White noted that 2018 was marked as a year of transition for the Newcastle and Hunter Valley residential markets.
"That transition, from a bullish and fast-moving market early on to a soft and increasingly brittle market by the end of the year, was always going to occur at some stage.
"It just happened to be 2018. This year of transition followed many years of strong and sustained growth, largely unprecedented in its length."
The NSW house price cooling is yet to reach the Mid North Coast region, which continues to sit at the peak of the market. It was recently joined by Dubbo.
There was good news in the Queensland capital, where Brisbane moved from approaching the peak of the market to a rising market, suggesting there's some way to go in their house price up-cycle. 
"Brisbane in the coming twelve months will, generally speaking, see a stable market across most locations," HTW noted.
"We aren’t historically prone to mighty price movements in either direction.
"As mentioned in Month in Reviews past, Brisbane has been on the cusp of substantial price rises for about six years now.
"While there are plenty punting on the idea that 2019 will bring big gains, we prefer to think our real estate values will strengthen in a more measured way."
Click <a href="https://www.propertyobserver.com.au/images/2019/3/5/National-February.jpg" target="_blank">here to enlarge</a> the February National Property Clock.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/3/5/National-February.jpg" alt="">
 
 
 
 
 
 
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Sydney housing market downturn spreads across New South Wales: HTW national property clock

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Three of the eight capital cities are now at the bottom of the retail market, with Darwin now joining Adelaide and Perth, according to valuation firm Herron Todd White's (HTW) latest retail property clock.
Brisbane remains the strongest capital city market for retail, retaining its peak of market position.
It has been joined this month by Dubbo and the Gold Coast. 
Melbourne, Newcastle and Coffs Harbour have all moved into the beginning of a retail market decline, while Sydney is approaching the peak of the market.
<a href="https://www.propertyobserver.com.au/images/2019/2/4/Jan%20Retail%20Clock.JPG" target="_blank">Click</a> to enlarge.
<img src="https://www.urban.com.au/images/2019/2/4/Jan%20Retail%20Clock.JPG" alt="">
There's not great news for Canberra, which is now in a declining market, joining Alice Springs, Echuca and Gippsland.
Hobart's retail market is still nearing the bottom of the market, as is the Adelaide Hills, Barossa Valley, South West WA and the Iron Triangle region.
Retail space in Sydney continues to approach market peak.
Ballarat, Bendigo, Launceston, Burnie-Devonport, the Mid North Coast and the Sunshine coast are all classified as rising markets.
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Three capital cities at the bottom of the retail market: HTW Property Clock

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The office market across New South Wales, including Sydney, is performing strongly, according to valuation firm Herron Todd White (HTW).
HTW have all eight New South Wales areas that they value at either approaching the top of the market or at the market peak.
Coffs Harbour, Dubbo, Lismore, Tamworth and South East NSW are all at the peak of the market, along with Melbourne who has been at its peak for the last 12 months.
Click <a href="https://www.propertyobserver.com.au/images/2018/11/19/HTW-Clock.jpg" target="_blank">here</a> to enlarge.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/19/HTW-Clock.jpg" alt="">
The last time HTW analysed the national office markets in August, Sydney's office market was rising.
Gold Coast had previously been at the peak of market, however their office market is now starting to decline having spent the last 12 months at the peak.
There is little change from October last year at the bottom of the market.
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Office market across NSW performing strongly while Melbourne remains at peak: HTW

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After a sustained period of growth, the housing market in Newcastle is starting to decline, according to valuation firm Herron Todd White.
Newcastle has been either approaching the peak or at the peak of the market for the last 12 months, despite the downturn in Sydney.
Coffs Harbour had been performing at a similar rate, even when the Central Coast market began declining three months ago.
Herron Todd White said housing requirements and an ageing population within Coffs Harbour and surrounding regions will be a key issue in years to come.
"The 2016 census showed there were 41.8 per cent of people aged over 50 in Coffs Harbour compared with NSW at 34.6 per cent, highlighting the need for forward thinking in this market sector," they noted.
Click <a href="https://www.propertyobserver.com.au/images/2018/11/8/Clock-Houses-Nov.jpg" target="_blank">here to enlarge</a> the national housing property clock.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/8/Clock-Houses-Nov.jpg" alt="">
 
Sydney houses and apartments remain a declining market for the second month in a row, while Melbourne continues its decline in both markets.
There was good news in Darwin, where the housing market is starting to recover, however the unit market is still declining.
Click <a href="https://www.propertyobserver.com.au/images/2018/11/8/HTW-units.jpg" target="_blank">here to enlarge</a> the national unit property clock.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/8/HTW-units.jpg" alt="">
 
Bundaberg was the worst performer across the country.
Both their housing and unit markets are have moved to approaching the bottom of the market.
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