<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

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New rail infrastructure has boosted the profile of Adelaide’s seaside suburbs Christies Beach and Seaford, according to HTW’s February 2017 update.
The valuation firm says segments worth watching this year are: detached housing in the suburbs of Welland, West Hindmarsh, Renown Park and Devon Park where improved infrastructure is in place; Edwardstown in the southern suburbs (eight kilometres from the CBD); Christies Beach and Seaford (beachside southern suburbs); and quality properties under $500,000 within 10 kilometres of the CBD as these are increasing in scarcity.
“Welland, West Hindmarsh, Renown Park and Devon Park are all situated within close proximity to solid performer suburbs such as Allenby Gardens, Croydon and West Croydon,” the report says.
“These suburbs provide an opportunity for purchasers attempting to enter the latter suburbs but at a more affordable price point.
“These areas are gentrifying, have increasing levels of in-fill development occurring as well as renovations and upgrades of older, character style housing.”
The firms says the Torrens to Torrens project, which is upgrading a large section of South Road, will further improve access to these areas and increase appeal to potential purchasers.
Edwardstown is in proximity to the increasingly popular areas of Clarence Gardens and Daw Park and is currently undergoing large levels of in-fill development.
“Driving through this suburb at the moment, there are a number of dwellings being demolished to make way for higher density, modern housing,” HTW says.
“The suburb is well serviced and has access to a number of arterial roads, providing good vehicle access to the north and south of the city as well as the CBD.
“Christies Beach and Seaford, in particular, provide more affordable opportunities than the neighbouring suburb of Port Noarlunga.”
The recent electrification of the Seaford railway line has improved access to this area.
The Southern Expressway also provides access to the Adelaide CBD which will be further enhanced via the Darlington upgrade currently underway.
“There are increasingly improved facilities in these areas, as there is increasing development in the area, both in-fill and in the Seaford Meadows South development.
“Areas such as Happy Valley and Reynella East still provide affordable detached housing under $450,000 which is comparatively affordable compared to many sections of the market.
“Land release prices in suburbs such as Penfield and the Gawler area continue to increase.”
A three bedroom house at <a href="https://www.realestate.com.au/property-house-sa-reynella+east-124526034" target="_blank">13 McClure Avenue</a>, Reynella East (above) has been listed for between $330,000 to $340,000.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/property-house-sa-happy+valley-124644618" target="_blank">20 James Road</a>, Happy Valley (below) has been listed for between $345,000 - $365,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/21/20%20James%20Road.jpg" alt="">
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jonathanchancellor-7SQnKwU6yx

HTW's top Adelaide property spots to watch in 2017

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The Cairns property market remains hampered by a continued lack of confidence and optimism despite solid fundamentals, according to HTW’s February 2017 update.
The valuation firm says low rental vacancy rates, no obvious oversupply in any market sector and continued improvement in tourism are positive signs for the region’s market.
Plans have recently been announced by Syrian billionaire Ghassan Aboud to invest $200 million to redevelop the Rydges Tradewinds Hotel on the Cairns waterfront and to build a new 200-room hotel at the corner of Lake and Aplin Streets in the CBD.
In addition, sales in the $550 million Nova City development by World Class Land, a subsidiary of Singaporean listed company Aspial, have now been launched.
The report suggests that these developments may be the catalyst the Cairns economy and property market needs to overcome investor scepticism created by the numerous other projects that have not managed to get out of the ground over the past few years.
“If successful they will inject much needed confidence into the city,” the report says.
“The performance of the Cairns economy and Cairns property market in 2017 will be dependent to a large degree on the above projects commencing.
“If no large projects get out of the ground we envisage little change and 2017 may well be a carbon copy of 2016 with slow but consistent sale rates, tight rental vacancies and a constrained finance environment.”
A three bedroom unit at <a href="https://www.realestate.com.au/property-unit-qld-cairns+city-124788370" target="_blank">24/189-191 Abbott Street</a>, Cairns City (above) has been listed for $595,000.
Similarly a three bedroom house at <a href="https://www.realestate.com.au/property-house-qld-mount+sheridan-124655726" target="_blank">53 Marsden Street</a>, Mount Sheridan (below) has been listed for $389,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/20/53%20Marsden%20Street.jpg" alt="">
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New projects may be Cairns' much needed confidence shot: HTW

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HTW is seeing new signs of a property market turnaround in Townsville following a year where its economy hit bottom and the property market travelled sideways at best, according to its February 2017 update.
The valuation firm says the residential property market has stabilised and confidence is now starting to improve.
However, it cautions that the market right now is fragile and remains positioned at the bottom of the cycle.
The firm predicts that throughout 2017 the residential market is likely to continue ticking over with purchases being made by intending owner occupiers, with some signs of activity re-emerging in the investor market.
“We are likely to see further stabilisation in transactions with the market poised to enter a recovery phase during 2017 as confidence increases,” the report says.
“The housing market has seen a stabilisation in volumes and median sale price and this is likely to continue throughout 2017.”
Townville’s unit market is predicted to remain stable for the first part of the year at least, reflecting ongoing buyer aversion, low levels of investor activity and a lack of new units being brought to market with supply of new developer units now at a seven year low.
The land market is tipped to slow with a lack of new home buyer confidence and the economics of new versus existing housing continuing to retard new home construction.
“The rental market remains in an over-supply situation with the latest survey indicating an overall trending vacancy rate of 5.6%,” HTW says.
“The year ahead will hopefully bring some relief to the rental market seeing the vacancy rate return to a more balanced situation.”
A four bedroom house at <a href="https://www.realestate.com.au/property-house-qld-kelso-121501894" target="_blank">2 Doyles Circuit</a>, Kelso (above) has been listed for $270,000.
Similarly a two bedroom unit at <a href="https://www.realestate.com.au/property-apartment-qld-south+townsville-124530190" target="_blank">42/38 Morehead Street</a>, South Townsville (below) has been listed for $285,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/20/42_38%20Morehead%20Street.jpg" alt="">
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Market turnaround underway in Townsville: HTW

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There are signs the worst may be behind the Mackay residential market with indications prices may be stabilising, according to HTW’s February 2017 update.
The valuation firm says there was an increase in sales volumes throughout the back end of 2016, rental vacancies fell throughout the year and a general sense of optimism returned to the Mackay economy.
Prices for metallurgical coal rose in late 2016, the mining sector started to show signs of strengthening and Adani’s Carmichael Coal project is getting closer to construction.
Other infrastructure projects in and around Mackay include the Mackay Ring Road Project, Eton Range Bypass and Vines Creek Bridge with construction commencing this year.
Other small projects include a new fire station in Mackay city and upgrades to the Mackay showgrounds.
HTW says all of these and other smaller projects will increase employment opportunities and benefit the entire Mackay economy.
However, the firm cautions that the Mackay residential market isn’t expected to show any real signs of improvement in terms of value in the first half of 2017.
“We think there will be a consolidation of values during this time and that sales volumes will continue to be strong in early 2017,” the report says.
“The key to any movement in values will be buyer sentiment.
“There has been negative buyer sentiment in Mackay over the past few years.
“We have seen this sentiment start to change during the last half of 2016, leading to higher sales volumes across the residential market, albeit at value levels not seen in Mackay in over 10 years.
“This is seen as a possible predictor that the market has reached the bottom.”
A three bedroom house at <a href="https://www.realestate.com.au/property-house-qld-mackay-124597310" target="_blank">18 Keats Street</a>, Mackay (above) has been listed for over $249,000.
Similarly a two bedroom unit at <a href="https://www.realestate.com.au/property-house-qld-mackay-124472694" target="_blank">6/331 Shakespeare Street</a>, Mackay (below) has been listed for $149,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/20/6_331%20Shakespeare%20Street.jpg" alt="">
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Hints of optimism for Mackay residential property market: HTW

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Anyone hoping 2017 will prove to be “The Year of the Brissie” will probably be disappointed, according to HTW’s February 2017 update.
The valuation firm says the biggest fault line continues to be employment-fuelled interstate migration.
“Truth be told, we can’t see anything on the economic horizon to suggest southern buyers will start heading here in droves,” the report says.
“That’s not to say we should be ignored – on the contrary, Brisbane is one of the country’s most forgiving capital city markets.
“There are very few disappointed long-term buyers in our sunshine state’s big city, provided they stuck with the fundamentals and bought the right property in the right position at the right price.”
HTW says there are opportunities in Brisbane that will deliver a result after a couple of market cycles.
Inner-city property continues to be the strongest performer and the firm says if you’re hoping to get into suburbs such as Paddington, Bulimba, or Woolloongabba, don’t expect to find much under $700,000 as a low buy-in for a modest detached house.
A four bedroom house at <a href="https://www.realestate.com.au/property-house-qld-paddington-124628702" target="_blank">30 Prince Street</a>, Paddington (above) has been listed for $1,279,000.
Similarly a three bedroom house at <a href="https://www.realestate.com.au/property-house-qld-paddington-124743018" target="_blank">47 Ewart Street</a>, Paddington (below) has been listed for $829,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/20/47%20Ewart%20Street.jpg" alt="">
“While these areas will continue to offer great potential, make sure you seek good quality property with strong tenant appeal for the best long-term results.
“Middle ring addresses are experiencing some capital gains fuelled by the affordability wave, and steady growth over 2017 is likely in locations such as Kedron and Wavell Heights.
“You’re still in the $600,000-plus price points in order to buy something decent, but as long as the land size and position are appealing, then there’s solid real estate to be had.”
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Brisbane market set for another disappointing year: HTW

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The rural sector in the Northern Territory welcomes 2017 in a very positive fashion, with a promising start to the wet season and very good commodity prices generally, according to Herron Todd White’s latest report.
The property valuation firm says that it brings an air of confidence which will hopefully result in increased activity and investment.
In the pastoral sector, strong live export prices are still being experienced out of Darwin and other northern ports.
Although it would appear that most NT properties changed hands in the course of 2015/6, there are in fact a number of properties still on the market.
“We are aware of at least three pastoral lease transactions to have exchanged not only in the Top End but also in the Centre, and hope to report on these once they are finalised.
Additionally, the purchase of Phoenix Park at Katherine by the Hancock Group has seen renewed interest in larger freehold blocks with good highway access, which are suitable for depot blocks, especially for owners of more remote pastoral leases that do not have good access.
Again, we will provide details once these properties have settled,” the report stated.
Many of these types of properties also have horticultural potential.
Through 2016, the sandalwood industry continued to show its dominance in this sector, purchasing and developing more country.
The latest sale of Early Storms in the Douglas Daly district further consolidated this trend.
Early Storms had previously been a very productive melon farm, however its conversion to sandalwood is indicative of changing land uses in this district.
The emergence of the sandalwood industry is also part of the reason for an increasing focus on water allocations in the NT.
“At this time, we are not aware of any arm’s length sales of water licences between properties in the NT.
However as investment in horticulture increases, it is expected that demand for water will increase.
Over time, we expect to see the value of water allocations in the NT become much more important to the same extent seen in irrigation areas in southern states,” the report stated.
The NT has an abundance of water and an abundance of land but there are relatively few places where good quality soil types and reliable water intersect.
Certainly the NT Government wants to ensure that the mistakes of over allocation of water licences which occurred in other jurisdictions is not repeated here.
“We therefore see that the limited amount of allocated water will become more valuable over time, possibly at a faster rate than the land on which it is used,” the report stated.
A rural property at <a href="https://www.realestate.com.au/sold/property-mixed+farming-nt-katherine-7818338" target="_blank">6755 Florina Road</a>, Katherine (above), the Florina Station, was sold for $6,802,534 last August.
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Northern Territory rural market on a positive note: HTW

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Inner city suburbs such as Port Melbourne, St Kilda, South Yarra, Richmond, Carlton and Fitzroy are worth watching to see if they maintain the capital growth shown over the past few years, according to HTW's February 2017 update.
The valuation firm says that, in particular, established apartments offering functional floor plans and superior living areas are expected to grow due to their attractiveness compared to new off the plan stock.
With the continuing development of large apartment complexes outside the Melbourne CBD, these apartments are usually marketed for lower than off the plan apartments and often provide a superior product, the report says.
“The Melbourne apartment market however is one that should be treated with caution as the threat of oversupply looms large, with the RBA warning that the rush of apartments scheduled for completion in the next couple of years will constrain price growth and also impact rents,” HTW says.
“There is also the increased risk of off the plan apartments not settling upon completion.”
The firm says the inner north western apartment market should be treated with caution due to the large amount of supply particularly in the suburbs of North Melbourne, West Melbourne, Travancore and Parkville. This concern may be contributing to softening values.
At the average price of $950,000 an investor can purchase a house such as the one at <a href="https://www.realestate.com.au/sold/property-house-vic-north+melbourne-123638770" target="_blank">44 Bryon Street</a>, North Melbourne (above) that was sold for $990,000.
Similarly at the average price of $521,000 an investor can purchase a unit such as the one at <a href="https://www.realestate.com.au/property-apartment-vic-north+melbourne-124513242" target="_blank">307/139 Chetwynd Street</a>, North Melbourne (below) that is available for $520,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/16/307_139%20Chetwynd%20Street.jpg" alt="">
“While North Melbourne had unit capital growth of 5.2%, there was negative capital growth in unit prices in West Melbourne of -19% (Core Logic, 2017).
It will be interesting to watch the performance of this submarket over the year ahead as more supply is released on to the market.”
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Inner Melbourne buyers ditching off the plan for established units: HTW

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Market conditions throughout the Ballina Shire remained strong throughout 2016 and there are early signs that the market will remain strong into the first quarter of 2017, according to HTW’s February 2017 update.
The valuation firm says price levels across most market segments are at record levels and stock remains low.
“Given that price levels are at record levels any further increases in value would appear unlikely in the short term however low stock levels, particularly throughout the sought after beachside localities may result in some further growth in prices,” the report says.
“The lack of stock and strong demand resulted in the Byron Shire area having tremendous growth in 2016 and it is predicted to remain this way into 2017.
“If interest rates remain low, it will cause demand in the area to become very high, particularly in the coastal resort towns of Lennox and Byron Bay.”
HTW tips the suburbs that are worth watching this year in the Byron Shire to be Ocean Shores, New Brighton and South Golden Beach.
These have had an entry level pricing point of $500,000 to $1 million for a coastal place for many years and are well sought out on the coast due to proximity to Byron.
But the firm is less keen on Mullumbimby, which it says seems to be a particular suburb to treat with caution.
“This is a suburb that has had a very strong price increase in recent years and the worry is that if interest rates rise, it may not be sustainable,” the report says.
“The overall feel for the Byron Shire is that if interest rates and stock levels remain low there will be a strong demand for the area and the markets in Lennox, Byron and Suffolk will have growth, particularly Lennox Head as buyers choose this suburb as a less expensive alternative to Byron Bay.”
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Byron prices at record levels amid low stock: HTW

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The strength of Gold Coast house prices is forcing first home buyers to look further west to obtain an affordable home, according to HTW’s February 2017 update.
The valuation firm says the north-west Gold Coast and southern Logan area is one of the largest growth areas within south-east Queensland with a number of satellite cities now gaining momentum and newer residential estates moving in to a more mature phase with established infrastructure, schools and local amenities.
“The growth area of Upper Coomera continues to be underpinned by the investment and interstate market with these buyers accounting for the majority of vacant lot purchases and house and land sales,” the report says.
“This market saw vacant land prices increase during the second half of 2016, with larger lots coming on to the market, which hadn’t been offered in this area for some time.”
“Over the coming year, this market should be treated with caution as these prices may be reaching their peak.”
The government increased the First Home Buyer’s Grant to $20,000 during the latter part of 2016 which encouraged more construction activity.
“However with price levels increasing in this area, it is becoming extremely difficult for first home owners to purchase or build new product and are we are seeing these buyers moving further west to the satellite cities of Yarrabilba and Flagstone at Jimboomba.”
Property Observer found a four bedroom house in Upper Coomera on 1001sqm that recently sold for $730,000 (above).
The property, <a href="https://www.realestate.com.au/sold/property-house-qld-upper+coomera-123855210" target="_blank">74a River Meadows Drive</a>, fronts the river.
A four bedroom home, <a href="https://www.domain.com.au/9-summerview-avenue-yarrabilba-qld-4207-2013311045?topspot=1" target="_blank">9 Summerview Avenue, Yarrabilba</a> (below) is currently on the market expecting offers over $575,000.
The home features an in-ground saltwater swimming pool and is on 640sqm.
<img src="https://www.urban.com.au/images/2017/02/16/Screen%20Shot%202017-02-16%20at%201.35.12%20PM.png" alt="">
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Gold Coast prices forcing first home buyers west: HTW

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Whitsundays has a balanced housing market, according to Herron Todd White’s latest report.
The property valuation firm says that Whitsundays has a tightening rental vacancy trend with a fair demand for new houses.
<a href="https://www.propertyobserver.com.au/images/2017/02/13/Screen%20Shot%202017-02-13%20at%2010.59.37%20am.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/2017/02/13/Screen%20Shot%202017-02-13%20at%2010.59.37%20am.jpg" alt="">
This is supported by a steady trend of new houses being constructed as well as demand for new housing.
Whitsundays' housing market is starting to recover although new properties are almost never sold at prices that exceed their potential resale value.
A two bedroom house at <a href="https://www.realestate.com.au/property-house-qld-whitsundays-124269270" target="_blank">3264 Shute Harbour Road</a>, Whitsundays (above) is currently listed for $2,000,000.
A seven bedroom house at <a href="https://www.realestate.com.au/property-house-qld-whitsundays-121901782" target="_blank">383 Mandalay Road</a>, Whitsundays (below) is currently 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/2017/02/14/383%20Mandalay%20Road.jpg" alt="">
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