<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>
Investor demand in south Sydney has dropped, according to Herron Todd White’s latest September report.
The property data firm says that however home owners remain active in the market.
Like other parts of Sydney, investor demand has declined in recent months while home owners are generally remaining active in the market.
First home buyers generally budget up to $1,000,000, which in this part of Sydney generally restricts property options to units, villas and townhouses.
The report said there are a number of new unit developments in the Sutherland Shire which are attractive for first home buyers including those at Woolooware Bay and the South Village development currently under construction at Kirrawee.
For the latter, 1-bedroom units are selling off the plan for between $600,000 and $700,000, and 2-bedroom units for between $680,000 and $900,000.
Upsizers and families require a budget of $1 million up to $3 million in more popular beachside and riverside suburbs.
Duplex properties are becoming increasingly attractive, allowing a more affordable option of a good sized modern home on a smaller low maintenance block of land.
A sale at <a href="https://www.realestate.com.au/sold/property-duplex+semi-detached-nsw-caringbah-125922062" target="_blank">32B Carabella Road</a>, Caringbah, (above) which sold for $1.562 million in August 2017, comprised a new two storey semi- detached duplex with 4-bedrooms, 2-bathrooms and 1-car garage on a 280 square metre lot.
Empty nesters and downsizers are increasingly looking at large modern apartments in premium locations, which provide a low maintenance lifestyle close to cafes, restaurants and shopping facilities.
In many cases, these buyers are looking to spend as much as, or more than, the sale proceeds from their large family home.
Cronulla has become a popular location for empty nesters and retirees with a number of modern boutique complexes being constructed in recent years.
A large modern garden apartment, opposite the beach, sold in June 2017 for $2.76 million.
The apartment, at 4/29-31 Prince Street, (below) comprised 3-bedrooms, 2-bathrooms, double basement car space and a large wraparound yard area providing beach and ocean views.
<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/2017/09/08/429-31%20Prince%20Street.jpg" alt="">
</body></html>

j.ballantyne1990-6AQqhLzZaK

Property investor demand in south Sydney drops: HTW

<html><body>
Australia’s top cities Sydney, Melbourne, Brisbane and Canberra are approaching the peak of market position in the retail market, according to property advisory firm Herron Todd White’s latest commercial property clock.
However, the peak of the market position continues to be empty.
The approaching the peak cycle slots are completed by the Gold Coast and Coffs Harbour, though Newcastle has dropped a notch to 'rising market' from the last time in June when the retail market was tracked.
Perth remains at the bottom of the market, along with another capital city, Darwin, which is the new entrant to the group. Darwin slid two notches from being a declining market in June.
The other joiners are Emerald and Gladstone.
Adelaide is now at the start of recovery, same as Cairns.
Retail property markets are influenced by a variety of factors from economy to technology, though the performance of retail property investments can be distilled down to a very important measure – rents, say HTW.
Tenant success has a direct impact for landlords and wading through the nuances of retail rents can be a challenge.
<a href="https://www.propertyobserver.com.au/images/2017/09/11/Sept13CommPropHTWRetailClock.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/09/11/Sept13CommPropHTWRetailClock.png" alt="">
 
</body></html>

prateek24-ezbwHMbNAk

Four capital cities closing in on peak of retail market: HTW commercial clock

<html><body>
Sydney housing market is at its peak, according to Herron Todd White’s latest property clock.
<div class="cq-article-content-paras section">
But the "frenzied" house buying is fading, according to analysis by valuers' Herron Todd White.
Regulatory pressure<a href="https://www.afr.com/business/banking-and-finance/apra-takes-on-australias-dangerous-addiction--interestonly-home-loans-20170331-gvarm5"> </a>on lenders to encourage lower risk principal and interest loans plus larger deposits are also increasing encouraging owner-occupiers back into a market that has been dominated by investors, it noted.  
</div>
<div class="cq-article-content-paras section">
Sydney is joined by Coffs Harbour, Newcastle and NSW Central Coast at the peak of the market.
"Buyers in these markets are increasingly being drawn towards low maintenance living within close proximity of schools, public transport and other services," it concludes.
While the home buying frenzy has flattened, Melbourne's market has more room for growth, according to the analysis.
</div>
<div class="cq-article-content-paras section">
Perth, Darwin, Alice Springs and Mackay are at the bottom of the market. 
</div>
<a href="https://www.propertyobserver.com.au/images/2017/09/07/Screen%20Shot%202017-09-07%20at%202.14.39%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/07/Screen%20Shot%202017-09-07%20at%202.14.39%20pm.jpg" alt="">
Perth’s housing market continues to decline with it now at the bottom of the market moving from approaching the bottom last month.
Millers Point has been a strong Sydney market. A three bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-millers+point-126320070">30 Kent Street</a>, Millers Point (above) has been listed for between $2.5 million to $2.7 million.
A four bedroom house at <a href="https://www.realestate.com.au/property-house-wa-perth-126169642">33 Ruth Street</a>, Perth (below) has been listed for over $840,000.
<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/2017/09/07/33%20Ruth%20Street.jpg" alt="">
</body></html>

Sydney housing market reaches peak while Perth hits bottom: HTW property clock

<html><body>
Residents in Perth are very careful when upgrading or renovating their homes, according to a recent Herron Todd White report.
The property investment firm says that this is due to lack of consumer confidence.
“The Western Australian economy has been haunted by a lack of consumer confidence over the past couple of years, hence home owners have utilised a high degree of caution when it comes to upgrading or extending their homes.
“Similarly, the prospect of paying stamp duty in a subdued economy has stalled transactions of established dwellings unless the product is highly desired by the market.
“The problem with undertaking a renovation project in a subdued market is that there is always a risk that the expenditure will not reflect a direct increase in capital value.
“This has definitely been an issue in the Perth residential market in previous years and also extends to the new housing market.
“The issue is however exacerbated in the established housing market given the proportionately higher costs involved in extension or renovation works.
“As an example, new construction typically occurs for rates of $1,000 to $1,500 per square metre of living area.
In the situation of an extension or renovation, these rates quite commonly start at $2,000 and rise rapidly towards $3,000 per square metre for single level properties,” the report stated.
Decisions for renovations are usually done due to emotional choices Herron Todd White comments.
“Hence in the current market, decisions made to extend or renovate are most often based on emotional choices rather than financial common sense.
“They commonly occur with families in well located, established areas offering little housing variety, where the location is not willing to be sacrificed regardless of the cost of the works involved to transfer the dwelling into something more modern and comfortable,” the report commented.
Herron Todd White warns that renovating a property in a unpopular area will be particularly challenging.
“In the current market, undertaking such a project in an outlying, potentially less desirable area is likely to be particularly challenging.
“We have seen several investors follow the flip method and come unstuck, either due to the higher holding costs associated with longer selling periods or by simply mistiming the market and the market corrects downwards as money is invested into the project. Hence these projects are not for the faint hearted.
“Some typical areas that are still seeing a decent level of extension or renovation work include Duncraig in the north where a renovator’s delight can be obtained for a little over $500,000, but well renovated properties can achieve in the $800,000s.
“The suburb is well located, being close to the coast but with good transport links to the CBD.
“An example in the south is Parkwood, where entry level housing sits at around $400,000 and good product can nudge past $600,000.
“The area offers little variety of housing but is well established with good sporting, shopping and employment centres in close proximity.
“Also in the south, the suburb of Melville has seen a significant amount of redevelopment along with restoration of the original cottages.
“The suburb is garnering interest due to its proximity to the Swan River and Fremantle and proximity to more upmarket and sought after suburbs such as Alfred Cove and Attadale,” the report warns.
A four bedroom house renovation-ready at <a href="https://www.realestate.com.au/property-house-wa-duncraig-125713754" target="_blank">6 Griffell Way</a>, Duncraig (above) has been listed for $699,000.
Similarly a renovation-ready three bedroom house at <a href="https://www.realestate.com.au/property-house-wa-melville-123699462" target="_blank">29 Shelshaw Street</a>, Melville (below) has been listed from $769,000.
<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/2017/06/20/29%20Shelshaw%20Street.jpg" alt="">
Being careful is a top priority for home owners that plans on renovations in the near future Herron Todd White says.
“All in all, we would urge caution for any home owner considering undertaking an extension or renovation project in the current market place.
“It would be wise to speak to multiple builders to ensure you are getting the most competitive quote and seek the advice of a local property valuer to ensure that you understand the risk and reward equation prior to committing to anything,” the report stated.
</body></html>

Perth residents careful when upgrading or renovating properties: HTW

<html><body>
Renovation in Echuca is generally done in lower market segments, according to recent Herron Todd White report.
The property investment firm says that most older residences are taken down to make way for new buildings.
“Renovation is generally completed in the lower market segments where the finished product will be at an affordable rate while not competing with new stock.
“Interestingly there has been limited demand for centrally located properties to be renovated with most older residences being demolished to make way for new builds.
“Longer term investors have also been known to renovate (including bathroom, kitchen and a general spruce up) basic dwellings in reasonable locations with a view to achieving a substantially higher rental based on a long term hold.
“This approach has been relatively good based on strong rental demand at the current time.
“Care needs to be taken in many instances not to over capitalise in upper market segments in order not to compete with new housing stock albeit in secondary locations,” the report stated.
A recently renovated house at <a href="https://www.realestate.com.au/property-house-vic-echuca-125229202" target="_blank">1 Jamieson Drive</a>, Echuca (above) has been listed for $359,000.
Similarly a two bedroom house that is in need of renovations at <a href="https://www.realestate.com.au/property-acreage+semi+rural-vic-strathallan-120286521" target="_blank">Lot 3/920 Burgoine Road</a>, Strathallan (below) has been listed for $175,000.
<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/2017/06/20/Lot%203_920%20Burgoine%20Road.jpg" alt="">
</body></html>

Echuca renovations uncommon for higher market segments: HTW

<html><body>
Investor interest in Mount Gambier is high, according to Herron Todd White’s latest August report.
The property investment firm says that investors are interested in a range of property types.
“Investor interest in the Mount Gambier region has been relatively good in recent years.
“A range of property types, such as units, maisonettes and house and land packages in modern divisions, appeals to investors in the area
“Local and out of town investors are purchasing properties in Mount Gambier. Local investors typically spend less on a property and will generally lean towards units rather than house and land packages.
“In comparison, out of town investors often have larger budgets and will invest in properties that provide good yields, such as flats or house and land packages,” the report stated.
Different investors will have a different preference on what type of property they want to invest in Herron Todd White says.
“Local investors generally look at properties in the mid range whereas out of town investors look at properties in the low or high range.
“In recent years there has been limited capital growth in the Mount Gambier region.
“However, in comparison to cities and other regional areas, the returns on properties within the region are considered quite good and are therefore attractive for investment properties.
“New modern divisions have been targeted by out of town investors in recent years.
“These modern divisions have had bigger marketing campaigns that purely focus on drawing in investors,” the report commented.
Unit sales in the Mount Gambier region is increasing Herron Todd White advises.
“In recent years the number of unit sales occurring has been increasing and in 2016 unit sales were almost double what they were in previous years.
“As seen in the graph below, last year there were 98 unit sales, whilst in 2013 and 2014 there were only approximately 50 unit sales.
<a href="https://www.propertyobserver.com.au/images/2017/08/04/Screen%20Shot%202017-08-04%20at%202.29.22%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/08/04/Screen%20Shot%202017-08-04%20at%202.29.22%20pm.jpg" alt="">
A three bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-sa-mount+gambier-124861866" target="_blank">1/11 Bertha Street</a>, Mount Gambier (above) was recently sold for $212,000.
Built in 1987 the property is currently rented for $270 a week reflecting a rental yield of 6%.
A two bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-sa-mount+gambier-124096182" target="_blank">2/1 Hart Street</a>, Mount Gambier (below) was recently sold for $205,000.
Built in 1992 the property was last sold in 2008 for $200,000.
<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/2017/08/04/2_1%20Hart%20Street.jpg" alt="">
“A high percentage of these unit sales tends to be to investors.
“Investors are generally seen as a positive for the Mount Gambier region,” the report advised.
Investors are also keen on obtaining rental properties in the area Herron Todd White stated.
“With the recent creation of the James Morrison Academy of Music, there has been more interest from investors because there are more people looking for rental properties.
“If investor activity were to slow within the Mount Gambier region we do not consider this to significantly impact the current market.
“There would likely be a bigger impact if investors were looking to exit the market altogether, as this could create an oversupply of properties.
“If we could give any advice to investors who are thinking of buying in the Mount Gambier market, it would be to do your research on locations and look deeper than just the yield.
“It would be beneficial to look at the local industry and employment within the region and also the health of the local economy,” the report stated.
</body></html>

Interest in Mount Gambier from investors continues: HTW

<html><body>
Renovations are common in Canberra, according to a recent Herron Todd White report.
The property valuation firm says that Belconnen, Woden Valley and Weston Creek are among the suburbs popular for renovations.
“Buyers looking to renovate in the ACT tend to gravitate towards the outer areas such as Belconnen, Woden Valley and Weston Creek.
“There are also some opportunities in the inner north suburbs of Lyneham, Watson and Downer.
“The majority of these houses were built in the 1960s and 1970s and are on much larger blocks than are available in new suburbs,” the report stated.
“Significant capital growth has occurred recently Herron Todd White says.
“Recently there has been some significant capital growth in these areas and well renovated houses have been selling at a premium.
“In some cases renovators prefer the character of an older house but want the functionality of a modern home.
“This is especially true for original houses built in the 1930s, 1940s and 1950s in suburbs such as Ainslie, Braddon, Campbell and Yarralumla.
“They are relatively small houses however are often on large blocks meaning there is good potential for extension.
“The majority of renovations in the ACT are in the detached housing market.
“Unit renovations have been done however the large supply of new apartments currently on the market has meant that the profits are relatively low for these projects.
Owner-occupiers seem to be the most common to complete renovations on houses in the ACT,” the report commented.
A recently renovated three bedroom house at <a href="https://www.realestate.com.au/property-house-act-holt-125554338">13 Longworth Place</a>, Holt (above) was listed on June for $495,000.
Built in 1972 it has since been sold in July for $490,000.
Another three bedroom house at <a href="https://www.realestate.com.au/property-house-act-chifley-125970806" target="_blank">10 Eggleston Crescent</a>, Chiefley (below) has been listed for $625,000 plus.
Built in 1960 it last sold in 2016.
<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/2017/08/23/10%20Eggleston%20Crescent.jpg" alt="">
A recently renovated five bedroom house at <a href="https://www.realestate.com.au/sold/property-house-act-flynn-125394210">5 Homann Place</a>, Flynn (below) was sold in May for $746,500.
Built in 1975 it last sold for $610,000 in 2010.
<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/2017/08/23/5%20Homann%20Place.jpg" alt="">
Similarly a recently renovated three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-act-palmerston-125393934">21 Bendora Crescent</a>, Palmerston (below) was sold in May for $681,000.
Built in 2001 it last sold in 2002 for $240,000.
<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/2017/08/23/21%20Bendora%20Crescent.jpg" alt="">
</body></html>

Canberra popular for renovators: HTW

<html><body>
Median residential prices in Darwin continues to decline, according to Herron Todd White’s June report.
The property advisory firm says that sales are dominated by first home buyers.
“Buying property in Darwin hasn’t been this affordable in a very long time.
“The present market can be characterised as a buyer’s market with property prices and sales volume depressed in the first quarter of 2017.
“Sales are primarily dominated by first home buyers on the back of government incentives and record low interest rates.
“In contrast, subdued rental growth continues to deter property investors from buying and investing in the local market, instead chasing larger gains in the eastern and southern states.
“The latest quarterly report from REINT for the greater Darwin area (including Palmerston) indicates that the median price has reduced by 9% year on year to $530,000 and 14% to $430,000 for detached dwellings and units respectively,” the report stated.
The majority of existing units in the CBD and inner suburbs are 15 years old Herron Todd White advises.
“Existing units in the Darwin CBD and inner Darwin suburbs of Stuart Park, Larrakeyah, Parap and Woolner offer good value with 3-bedroom, 2-bathroom apartments selling in the range of $360,000 to $500,000 and $300,000 to $450,000 for 2-bedroom, 2-bathroom apartments.
“The majority of this stock is 15 years old and offers a modest standard of accommodation.
“Furthermore, entry level units which are mainly comprised of 2-bedrooms and 1-bathroom can be found in the northern suburbs of Nightcliff, Coconut Grove, Millner and Rapid Creek.
“These units are selling in the price range of $200,000 to $350,000 and offer entry level accommodation.
A two bedroom unit at <a href="https://www.realestate.com.au/property-unit-nt-millner-122612146" target="_blank">16/165 McMillans Road</a>, Millner (above) has been listed for $350,000.
It was last sold in 2006 for $215,000.
“Apart from the inner city and northern suburbs, units in Palmerston also offer an affordable option for those looking for a bargain with current selling prices ranging from $220,000 to $300,000 for a 2-bedroom, 1-bathroom unit and $300,000 to $350,000 for a 3-bedroom, 2-bathroom unit,” the report advised.
Inner Darwin suburbs cost above the $500,000 price bracket Herron Todd White warns.
“On the other side, dwellings in the inner Darwin suburbs are far beyond the reach of purchasers with only half a million to spend, with the latest REINT March quarter 2017 report indicating a median price of $667,500,” the report warned.
Herron Todd White states that northern suburbs are less expensive.
“However, the northern suburbs which are areas between Nightcliff and Karama have a lower median price of $580,000 and $520,000 respectively.
“Older dwellings in the less popular suburbs of Malak and Karama offer affordable entry level home ownership with a ground level 3-bedroom, 1-bathroom dwelling selling in the range of $350,000 to $400,000.
“These dwellings have a fairly basic level of improvement and require some degree of renovation.
“Other more popular suburbs such as Leanyer, Wulagi, Anula and Jingili also provide a host of options but sell at a slightly higher price range from $400,000 to $500,000.
“Further away to Palmerston, Gunn, Rosebery and Durack are some of the suburbs that most buyers would get houses with good value for money, particularly dwellings in the price range of $400,000 to $500,000 with 3-bedrooms and 2-bathrooms,” the report stated.
A three bedroom house at <a href="https://www.realestate.com.au/property-house-nt-durack-125752690" target="_blank">13 Deakin Place</a>, Durack (below) has been listed for $459,000.
Built in 2000 the property was last sold in 2006 for $390,000 and in 2002 for $110,000.
<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/2017/07/25/13%20Deakin%20Place.jpg" alt="">
New land developments have a low median price Herron Todd White commented.
“In terms of purchasing your own block of land and building a new dwelling, the newly developing suburb of Zuccoli offers affordable land options with prices as low as $100,000 or house and land packages from builders as low as $450,000.
“We expect property prices to remain depressed for the remainder of 2017, with minimal evidence of stabilisation in the form of increased transactions.
“A combination of factors has led to the sustained slowing down in the Darwin economy, such as the winding down of the INPEX LNG project and a shrinking of the local Territory population.
“The inner city unit market has been one of the worst hit segments, with a considerable supply still applying significant downward pressure on prices.
“These conditions are compounded by a lack of investors entering the market, with subdued rental conditions likely to continue in the short to medium term.
“Overall, the current property market presents a great opportunity for purchasers looking to secure a property,” the report commented.
</body></html>

First home buyers dominate Darwin residential sales: HTW

<html><body>
Local and non-local investors are strong in Tamworth, according to Herron Todd White’s latest August report.
The property investment firm says that local investors tend to pick properties that are in a good location and have average rent return.
“The Tamworth region has a strong investment sector with both local and non-local investors taking part.
“The trend for local investors is to buy a safe property (good location, average rent return and lower risk).
“On the other side we see non-local investors being more risky, with a focus on higher rent returns which tends to be properties in less desirable areas with returns of up to 8% gross but less capital gain,” the report stated.
Non-local investors are starting to invest more in new subdivisions Herron Todd White advises.
“There has also been a notable increase in non-local investors investing in new subdivisions that are entirely aimed at outside investors.
“These sub-divisions become a less desirable location due to the lack of owner-occupiers and so far have appeared to enjoy little in the may of increased market value.
“Local investors operate within a large price range depending on their financial capacity with investments occurring from around $200,000 all the way to $600,000.
“Non-local investors are a bit more constrained with their investments with the lower bracket being around $150,000 (parts of West Tamworth) up to around $500,000.
“Each price point represents a different goal for the property with the lower end focusing on higher rental yields and the upper end focused on capital growth,” the report advised.
Tamworth’s continued expansion means that investors will now have to consider capital gains when purchasing properties Herron Todd White says.
“With Tamworth continuing to expand and doing quite well, the strategy of medium price point with average rental return but opportunity for capital gains seems to be the better strategy of the two.
“The reason for this is that with an average return of 5% to 6% gross on these properties, the return is still better than capital cities and it provides less risk than higher yield properties.
“Over the past 12 months we have seen an increase in investor activity within the Oxley Vale area as there is opportunity to buy both new and established homes within an expanding suburb that is not too expensive.
“Nice established homes can be purchased for $300,000 and enjoy a return of roughly 5.5% gross.
“The continual expansion of Tamworth makes investors a vital part in allowing it to grow, as more people come to town and require accommodation.
“At this time there has been minimal to no impact on first home owners from investors, due to the affordability of Tamworth,” the report commented.
A three bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-tamworth-126074126" target="_blank">20 Robyn Street</a>, Tamworth (above) has been listed for $275,000.
Built in 1950 it was last sold in 2013 for $226,500.
Another three bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-tamworth-126043098" target="_blank">6 Wentworth Place</a>, Tamworth (below) has been listed for $279,000.
<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/2017/08/04/6%20Wentworth%20Place.jpg" alt="">
</body></html>

Investment in Tamworth strong from both local and non-locals: HTW

<html><body>
Lower end retail spaces in Canberra can be purchased from between the mid $5,000 to mid $7,000 per square metre, according to Herron Todd White’s latest June report.
The property investment firm says that waterfront locations can cost up to $10,000 per sqm as the opportunity to secure a water view is preferred over standard street frontage.
“Purchasers wanting access to the retail market in Canberra have the choice of the primary locations of Canberra City, Braddon and Kingston Foreshore, and the secondary locations of Woden, Belconnen and Gungahlin," it says.
Yields achieved for good quality accommodation in primary locations are in the range of 5.5% to 7.25%, according to HTW.
“The typical property would be a unit (strata title) in a complex comprising 50 to 150 square metres within a mixed use commercial and residential development. It would include good exposure to passing traffic and a mix of tenancy occupants such as restaurants, individual clothing retailers and boutique outlets, accompanied by an office and residential component on the upper levels."
“Secondary locations such as Woden and Belconnen are more accessible at the lower end of the market,” the report stated.
New mixed use developments are providing modern, affordable retail spaces, said Herron Todd White.
“A number of new mixed use developments are providing modern space at ground floor level which is more affordable than primary location equivalents.
“These include developments such as Mystere at Macquarie and Altitude, Northpoint Place, Belconnen.
“Market entry prices range from $2,000 per square metre to $7,500 per square metre for a 92 square metre unit with a ten year lease in an established centre.
“Yields achieved for secondary commercial properties range from 6% to 10% and reflect the strength of the lease covenant nature, age of the improvements and the type of purchaser investor or owner-occupier,” the report advised.
Presently the lower sector is stable with demand coming mostly from owner-occupiers or self-managed occupiers Herron Todd White comments.
“The lower price sector is stable at present with demand coming from self managed superannuation funds and owner-occupiers.
“The market appears to be securing long term potential over the initial yield.
“The population growth in the northern suburbs of Canberra and densification of the inner city is seeing demand for this property type grow as people enjoy the convenience of accessible local goods and services.
“Both primary and secondary locations are offering this type of property and continue to evolve.
“We are seeing the emergence of Melbourne style laneway occupants providing interesting and point of difference uses that were previously unavailable to retail uses.
“An example is No Name Lane in the city opposite Hobart Place which provides a vehicle free pedestrian zone, allowing a pleasant alternative to the typical corner shop or shopping centre space situated between two buildings.
Secondary locations are providing opportunities for purchasers to acquire property in the lower price sector at an entry level that is similar to that in prime locations, yet more affordable, the report said.
A retail showroom property at <a href="https://www.realcommercial.com.au/property-retail-act-hume-502425706" target="_blank">4 Sawmill Circuit</a>, Hume (above) has sold for $4,310,000 through Burgess Rawson, according to CoreLogic data. It sold after just four weeks on the market.
Similarly, an office building at <a href="https://www.realcommercial.com.au/property-land+development-act-bruce-502430022" target="_blank">15 Thynne Street</a>, Bruce (below) has been put on the market through CBRE. It last changed hands for $3,200,000 back in 2004, CoreLogic RP Data shows.
<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/2017/06/23/15%20Thynne%20Street.jpg" alt="">
</body></html>

Htw

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Htw